SOC Telemed (TLMD) Stock: Why Price Surged

 — SOC Telemed took steps to shore up its balance sheet, reaching an agreement with SLR Investment Corp. to allow the company to accelerate the drawdown of an additional $12.5 million in term debt to bolster its cash position

Updated 2021 Financial Outlook

For the full year 2021, SOC Telemed is providing the following revised financial guidance:

— GAAP Revenue is expected to be in the range of $91.5 million to $93.5 million, with approximately 30% expected to be attributed to Access Physicians, an increase from the prior guidance range of $90 million to $92 million

— The upward guidance revision is the result of improved consultation volume and new implementations

— Adjusted EBITDA is expected to be in the range of $(21.5) million to $(22.5) million, and improvement from the prior guidance range of $(22.0) million to $(25.0) million

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