Twilio Lands Contract to Power Zocdoc's Telehealth Service

Twilio is partnering with Zocdoc, which is an online medical care appointment booking service.
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Twilio  (TWLO) - Get Report shares were rising premarket after the company announced that it has reached an agreement to power online medical care appointment booking service Zocdoc's telehealth video service. 

Twilio, a cloud communications platform, says that any provider can sign up to use Zocdoc's Video Service to facilitate all of their virtual appointments, whether the patients schedule a video visit through Zocdoc or not. 

"Zocdoc’s new telehealth solution makes it easier for healthcare professionals to utilize video visits in a time where providers and patients need virtual care most," said Susan Collins, global head of healthcare services at Twilio.

Twilio shares were rising 1.6% to $193.40 in pre-market trading on Wednesday. 

Zocdoc allows users to search for doctors in their healthcare network while also providing video visits with in-network local doctors who can address immediate medical needs. 

"Twilio’s speed and scale helped us rapidly respond to the needs of patients and providers with our new, free Zocdoc Video Service. Within a matter of weeks, our team deployed a customized, HIPAA-compliant video solution that reliably delivers a seamless virtual care experience," said Zocdoc CEO Oliver Kharraz, M.D.

Meanwhile, Twilio shares are still benefiting from the revenue-beat boost following its release last week despite its wide bottom-line miss. 

Twilio reported a loss of 68 cents a share on revenue of $364.9 million, versus estimates of a loss of 11 cents a share on revenue of $331 million.

Twilio gave guidance for the second quarter of revenue between $365 million to $370 million and a non-GAAP loss per share of between 8 cents and 11 cents, ahead of consensus estimates of $337 million and a non-GAAP loss of 13 cents. But the company withdrew its full year 2020 guidance due to the ongoing impact of the coronavirus pandemic.