Talkspace

Talkspace, Inc. is the virtual behavioral healthcare company committed to making care more effective, accessible, and convenient. Talkspace addresses the challenges of traditional mental healthcare by combining effective clinical solutions with technology designed for present day. The platform is powered by a diverse team of certified mental health specialists in every state providing therapy and psychiatric treatment for individuals, couples, and adolescents. Talkspace therapists meet clients where they are, on their schedules, on any device, via chat, voice, and video. All care is delivered through an easy-to-use and fully encrypted web and mobile platform, consistent with HIPAA and other state regulatory requirements. More than two million people have used Talkspace. Talkspace for Business, the enterprise division of Talkspace. Existing relationships include employers, schools, and the nation's largest health care plans, including an in-network provider agreement with Cigna. The company was founded by Frank Roni and Frank Oren in 2012 and is headquartered in New York, NY.

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Talkspace reports Q4 revenue growth, eyes breakeven by 2024

Talkspace's Q4 2022 performance showed revenue growth and strategic focus on expanding business segments and revenue streams.
While facing challenges such as consumer revenue decline and financial losses, the company aims for breakeven by the first half of 2024.
Opportunities lie in leveraging increased demand for mental health services, expanding into new business segments, and enhancing service quality through AI tools.

Talkspace reports robust Q1 growth, eyes profitability by Q1 2024

Talkspace's Q1 2023 performance reflects strong revenue growth and progress towards profitability, underpinned by strategic initiatives and market expansion.
While facing challenges in areas like DTC stabilization and cost management, Talkspace's revised guidance and market positioning indicate a path towards sustained growth.
The company's focus on payer revenue, provider relationships, and operational efficiency aligns with opportunities in the growing mental health services market, positioning Talkspace for future success.

Talkspace reports robust Q2 earnings, eyes growth in mental health

Talkspace's Q2 2023 earnings call showcased strong financial performance, marked by revenue growth and achieving cash flow positivity. The company's strategic initiatives aim to drive growth, enhance market positioning, and achieve profitability through operational excellence. While facing challenges like declining DTE business, Talkspace is well-positioned to capitalize on opportunities in the mental health services market.

Talkspace reports robust Q3 earnings, eyes profitability by Q1 2024

Talkspace's strong performance in Q3 2023 reflects its commitment to growth and innovation in the digital mental health space, with revenue and EBITDA improvements.
While facing challenges in achieving profitability, the company's strategic focus on payer revenue growth and operational efficiency sets a clear path to sustainable success.
With raised revenue guidance, a roadmap to breakeven EBITDA, and promising opportunities ahead, Talkspace is poised for continued growth and market leadership.

Talkspace reports robust 2023 results, eyes growth through payer strategy

Talkspace's strong financial performance in 2023, coupled with strategic initiatives and partnerships, sets a positive trajectory for the company. Challenges in consumer spending are being addressed through successful business pivots, while opportunities in payer coverage and brand presence offer avenues for growth.

Talkspace reports profitable Q1, eyes Medicare expansion for growth

Talkspace delivered a strong Q1 performance, achieving its first profitable quarter and demonstrating robust revenue growth in the payer category.
The company's strategic initiatives, including Medicare expansion, provider network growth, and diversified partnerships, position it well for future growth.
While facing challenges in managing costs and market competition, Talkspace's focus on profitability and expansion opportunities present avenues for sustained success.
With a solid financial position, continued investments in AI capabilities, and reaffirmed guidance, Talkspace shows confidence in its ability to navigate challenges and capitalize on growth opportunities.

Talkspace reports robust Q2 earnings, eyes growth through strategic initiatives

Talkspace delivered strong financial results in Q2 2024, with notable revenue growth and profitability, driven by expanding payor revenue and successful initiatives in key segments.
The company's strategic focus on enhancing patient care, building partnerships, and strengthening its leadership team positions Talkspace for continued success and differentiation in the competitive telehealth market.
While facing challenges in scaling operations and managing costs, Talkspace has opportunities to leverage its unique strengths, partnerships, and market positioning to drive growth and innovation.

Talkspace reports robust Q3 earnings, eyes strategic partnerships for growth

Talkspace's Q3 performance reflects strong revenue growth and strategic partnerships, positioning the company for continued expansion.
While facing challenges in optimizing marketing efforts and balancing growth initiatives, Talkspace's focus on data-driven strategies and value-based care contracting presents opportunities for future growth.
Overall, Talkspace's commitment to diverse market segments, operational efficiency, and revenue guidance reaffirm its position as a key player in the telehealth industry.

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Talkspace, Inc. engages in the operation and development of a technology platform used in connecting patients to licensed mental health professionals through messaging, video, and audio. The company was founded by Frank Roni and Frank Oren in 2012 and is headquartered in New York, NY.

Mark Cuban Cost Plus Drug Company, PBC; Talkspace; and Health Gorilla join Wheel's ecosystem to provide everything customers need to stand up virtual care at scale. AUSTIN, Texas , March 7, 2024 /PRNewswire/ --  Wheel , the virtual care platform powering the future of care, today announced it is adding three high-impact companies to its Integrated Virtual Care Ecosystem — Talkspace; Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs); and Health Gorilla.

Wheel Adds Three High-Impact Companies to Its Integrated Virtual Care Ecosystem, Delivering More Choice, Improved Access, and Affordability to Patients

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What Makes Talkspace, Inc. (TALK) a Strong Momentum Stock: Buy Now?

NEW YORK, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Talkspace (Nasdaq: TALK), a leading behavioral healthcare company, today announced that management will participate in a fireside chat and host one-on-one investor meetings at the Barclays 26th Annual Global Healthcare Conference in Miami Beach, Florida, on March 12, 2024. The fireside chat will be at 8:30am ET.

Talkspace to Present at the Barclays 26th Annual Global Healthcare Conference

Talkspace, Inc. (TALK) Q4 2023 Earnings Call Transcript

4Q 2023 Payor revenue grew 138% year-over-year 4Q 2023 Operating expenses of $23.6 million, down 37% year-over-year 4Q 2023 Net loss of $1.3 million; Adjusted EBITDA 1 loss of $0.3 million, an improvement of 97% year-over-year Provides 2024 guidance with revenue $185-$195 million and adjusted EBITDA 1 $4-$8 million Announces Initial Share Repurchase Program of $15M NEW YORK, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Talkspace, Inc. (NASDAQ: TALK), today reported fourth quarter and full year 2023 financial results.     Three Months   Full Year Unaudited     Year Ended December 31, 2023   Results   Variance from Prior Year %   Results   Variance from Prior Year % (In thousands unless otherwise noted)                 Number of eligible lives at year end (in millions)     131       42%       131       42%   Number of completed Payor sessions     249.8       95%       850.6       99%   Number of Consumer active members at year end     11.7       (24)%       11.7       (24)%                     Total revenue   $42,418       40%     $150,045       25%   Gross profit   $20,971       30%     $74,380       23%   Gross margin %     49.4%           49.6%       Operating expenses   $23,554       (37)%     $97,589       (32)%   Net loss   $(1,306)       93%     $(19,182)       76%   Adjusted EBITDA1   $(306)       97%     $(13,529)       77%   Cash and cash equivalents at year end   $123,908       —     $123,908       —   (1) Adjusted EBITDA is a non-GAAP financial measure.

Talkspace Announces Fourth Quarter and Full Year 2023 Results

NEW YORK--(BUSINESS WIRE)--Talkspace and Wheel Enter Strategic Partnership to Bring Together Complete Virtual Care Offering – Connecting Physical and Mental Health.

Talkspace and Wheel Enter Strategic Partnership to Bring Together Complete Virtual Care Offering – Connecting Physical and Mental Health

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NEW YORK, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Talkspace (Nasdaq: TALK), a leading behavioral healthcare company, today announced that management will participate in a fireside chat and host one-on-one investor meetings at the TD Cowen 44th Annual Health Care Conference in Boston on March 5, 2024.

Talkspace to Present at the TD Cowen 44th Annual Health Care Conference

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Talkspace (Nasdaq: TALK), a leading behavioral healthcare company, will release its fourth quarter and full year 2023 results on Thursday, February 22, 2024, before market open and host a conference call to review the results at 8:30 a.m. ET.

Talkspace to Report Fourth Quarter and Full Year 2023 Results and Host Conference Call

NEW YORK--(BUSINESS WIRE)--Talkspace and the American Federation of Teachers Join Forces to Enhance Mental Health Support for Educators, Healthcare and Public Workers.

Talkspace and the American Federation of Teachers Join Forces to Enhance Mental Health Support for Educators, Healthcare and Public Workers

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NEW YORK, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Talkspace (Nasdaq: TALK), a leading behavioral healthcare company, today announced that management will present and host one-on-one investor meetings at the 26th Annual Needham Growth Conference on January 16 and 19, 2024, virtually. The Company's presentation will be on January 19, 2024, at 3:00pm EST.

Talkspace to Present at the 26th Annual Needham Growth Conference

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NEW YORK--(BUSINESS WIRE)--‘Go Head First Into 2024': Talkspace Therapists Provide Simple, Actionable Steps For Prioritizing Mental Health This Year.

‘Go Head First Into 2024': Talkspace Therapists Provide Simple, Actionable Steps For Prioritizing Mental Health This Year

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BALTIMORE--(BUSINESS WIRE)--Baltimore County Public Schools Partners with Talkspace to Provide Free Telehealth Therapy to High School Students Year-Round.

Baltimore County Public Schools Partners with Talkspace to Provide Free Telehealth Therapy to High School Students Year-Round

NEW YORK--(BUSINESS WIRE)--Talkspace and Evernow Launch Strategic Partnership to Enhance Access to High Quality Mental Health and Menopause Care for Growing Member Base.

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NEW YORK--(BUSINESS WIRE)--New York City Mayor Eric Adams announced—NYC TeenSpace—in partnership with Talkspace, to provide free therapy to all New York City teens aged 13-17.

Mayor Adams, DOHMH Commissioner Dr. Vasan Launch ‘TeenSpace' With Talkspace, Tele-mental Health Service For NYC Teens

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Talkspace, Inc. (NASDAQ:TALK ) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET Company Participants Jeannine Feyen - Director of Communications Jon Cohen - Chief Executive Officer Jennifer Fulk - Chief Financial Officer Conference Call Participants Lucas Romanski - Cowen Jack Senft - William Blair. Operator Thank you for standing by.

Talkspace, Inc. (TALK) Q3 2023 Earnings Call Transcript

B2B payor revenue grew 132% year-over-year 3Q 2023 Operating expenses of $24.0 million, down 30% year-over-year Reduced Net Loss to $4.4 million and Adjusted EBITDA 1 loss to $2.8 million, an improvement of 75% and 82% year-over-year, respectively NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Talkspace, Inc. (NASDAQ: TALK), today reported third quarter 2023 financial results.     Three Months   Nine Months Period Ended September 30, 2023 (Unaudited)   Results   Variance fromPrior Year %   Results   Variance fromPrior Year % (In thousands unless otherwise noted)                 Number of B2B eligible lives at period end (in millions)   113   31%   113   31% Number of completed B2B sessions during the period   228.6   105%   600.8   102% Number of Consumer active members at period end   13.3   (26)%   13.3   (26)%                   Total revenue   $38,646   32%   $107,627   20% Gross profit   $18,849   29%   $53,409   21% Gross margin %   48.8%       49.6%     Operating expenses   $24,028   (30)%   $74,035   (30)% Net loss   $(4,414)   75%   $(17,876)   71% Adjusted EBITDA1   $(2,800)   82%   $(13,223)   74% Cash and cash equivalents at period end   $125,332   —   $125,332   —   (1) Adjusted EBITDA is a non-GAAP financial measure.

Talkspace Announces Third Quarter 2023 Results

NEW YORK, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Talkspace (Nasdaq: TALK), a leading behavioral healthcare company, today announced that Jon R. Cohen, M.D., CEO, and Jennifer Fulk, CFO, will participate in a fireside chat and host one-on-one investor meetings at the 6th Annual Evercore ISI HealthCONx Conference in Miami, FL, on November 29, 2023. The Company's fireside chat will be at 3:50 pm ET.

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