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Teladoc went public in 2015. Photo: MayApps207 / Wikimedia Creative Commons

Teladoc, a company that connects patients with doctors via video and phone, recently disclosed it has serious accounting problems tied to "stock-based compensation." Teladoc directed Axios to an investor relations firm after repeated inquiries, and the outside firm has not responded.

Why it matters: The health care industry views virtual care as an important way to treat common ailments in lower-cost settings. But Teladoc is the largest telemedicine company; its new blunders, on top of a long track record of losses, don't inspire confidence.

Key quote: "Management identified a material weakness relating to the accounting for certain fourth-quarter 2017 awards of stock-based compensation with unique or different terms than the company's standard stock awards," according to Teladoc's annual filing.

  • Executives did not address the accounting problems on the company's investor call.
  • Teladoc spent almost $31 million on stock-based pay in 2017.
  • Accounting employees will undergo "renewed training" on how to book stock awards, and the company has made other vague changes to its financial reporting, per the filing.
  • Teladoc hopes the problems will be fixed by the end of March, but there's no guarantee the company will avoid having to restate its finances.

The bottom line: Teladoc has lost $239 million since 2015, the year it went public.

Go deeper

Miriam Kramer, author of Space
Updated 21 mins ago - Science

NASA's delays Mars helicopter test flight

Ingenuity (left) with Perseverance on Mars. Photo: NASA/JPL-Caltech/MSSS

NASA announced Saturday it rescheduled its Ingenuity Mars helicopter's first experimental flight, originally planned for Sunday.

The latest: "During a high-speed spin test of the rotors on Friday, the command sequence controlling the test ended early due to a 'watchdog' timer expiration," NASA said in a statement. "This occurred as it was trying to transition the flight computer from ‘Pre-Flight’ to ‘Flight’ mode."

Scoop: Ohio Senate candidate Josh Mandel escorted out of RNC retreat

Ohio Republican Senate candidate Josh Mandel. Photo: Chris Maddaloni / Getty Images

During this weekend’s highly anticipated donor retreat hosted by the Republican National Committee in Palm Beach, Ohio Senate candidate Josh Mandel was escorted off the premises while his primary opponent, Jane Timken, was allowed to stay, two sources with direct knowledge of the situation tell Axios.

What we’re hearing: The invitation-only event is taking place at the Four Seasons Resort, and the RNC reserved the entire hotel. While Timken, former Ohio GOP chair, was invited to the event “because she is a major donor” — Mandel was not, so he was asked to leave, according to one of the sources

Ben Geman, author of Generate
2 hours ago - Energy & Environment

Report: John Kerry plans to visit China ahead of Biden's climate summit

John Kerry. Photo: Zach Gibson / Stringer

John Kerry, President Biden's special climate envoy, is expected to travel to China next week for meetings with officials aimed at boosting collaboration, the Washington Post reported Saturday.

Why it matters: China is the world's largest carbon dioxide emitter and the U.S. is second-largest.