Talkspace, Inc. Revenue Disclosure
NOTE 3. REVENUE RECOGNITION
The following table presents the Company’s consolidated revenues from sales to unaffiliated customers disaggregated by revenue source:
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|
Year Ended December 31, |
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|
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2025 |
|
|
2024 |
|
|
2023 |
|
|||
(in thousands) |
|
|
|
|
|
|
|
|
|
|||
Payor |
|
$ |
171,518 |
|
|
$ |
124,339 |
|
|
$ |
80,823 |
|
DTE |
|
|
39,880 |
|
|
|
38,466 |
|
|
|
33,614 |
|
Consumer |
|
|
17,473 |
|
|
|
24,788 |
|
|
|
35,608 |
|
Total revenue |
|
$ |
228,871 |
|
|
$ |
187,593 |
|
|
$ |
150,045 |
|
For the year ended December 31, 2025, four customers represented 10% or more of the Company's consolidated revenues and these amounts were approximately $32.1 million, $27.4 million, $24.8 million and $24.0 million. For the year ended December 31, 2024, three customers represented 10% or more of total revenue. For the year ended December 31, 2023, two customers represented 10% or more of total revenue.
Accounts Receivable, net
The Company had accounts receivable, net, related to revenue from DTE customers of $8.8 million and $6.0 million at December 31, 2025 and December 31, 2024, respectively. As of December 31, 2025 and 2024, the balance of accounts receivable, net, related to revenue from Payor customers was $7.3 million and $3.6 million, respectively. Credit losses related to these receivables were immaterial for the years ended December 31, 2025, 2024 and 2023.
Deferred Revenues
For the year ended December 31, 2025 and 2024, the Company recognized revenues of $2.4 million and $2.0 million, respectively, that were included in deferred revenues at the beginning of the year. As of December 31, 2025, deferred revenue mainly related to the Company’s Consumer subscription business.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 12, 2025 | |
| 2023 | Mar 13, 2024 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.