Talkspace, Inc.

Listed Company

TALKWCIK 0001803901NasdaqAcceleratedServices-Health ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$228.87M

Net Income

$7.79M

Total Assets

—

Equity

—

Shares Out

167.51M

Op. Cash Flow

$8.53M

Business

Talkspace, Inc. is a virtual behavioral health company connecting patients with licensed mental health providers through a purpose-built digital platform. It offers psychotherapy via text, audio and video, psychiatry with medication management (excluding controlled substances), provider tools, and data-driven matching and clinical insights. The business operates through three primary customer channels—Payor (health plans and employee assistance programs), Direct-to-Enterprise (employer, academic and government contracts), and Consumer subscriptions—and leverages a hybrid network of employed and independently contracted providers. Talkspace serves members across all 50 U.S. states, the District of Columbia, and select international markets via in-network reimbursements, enterprise contracts and direct-to-consumer subscription channels.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	229	188	150	120	114
Cost of revenue, excluding depreciation and amortization	131	101	75	—	—
Research and development, net	10	10	17	22	16
Clinical operations, net	7	7	6	7	9
Sales and marketing	54	51	52	73	101
General and administrative	22	23	21	36	35
Depreciation and amortization	3	859,000	1	—	—
Total costs and operating expenses	226	192	173	143	161
Income (loss) from operations	3	−4	−23	−83	−94
Financial income, net	−5	−6	−4	−4	−31
Income (loss) before income taxes	8	1	−19	−79	−63
Income tax expense	574,000	94,000	218,000	254,000	47,000
Net income (loss)	8	1	−19	−80	−63
Basic	0.05	0.01	−0.12	−0.51	−0.72
Diluted	0.04	0.01	−0.12	−0.51	−0.72
Basic (shares)	167	169	165	157	87
Diluted (shares)	174	176	165	157	87

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	37	77	124	139	198
Marketable securities	55	41	0	—	—
Accounts receivable, net	16	10	10	10	6
Other current assets	2	3	6	4	10
Total current assets	111	130	140	153	213
Fixed assets, net	16	6	—	—	—
Goodwill	3	0	—	0	6
Other long-term assets	5	2	2	491,000	82,000
Total assets	135	139	142	156	224
Accounts payable	9	8	6	6	7
Deferred revenues	2	3	3	4	7
Accrued expenses and other current liabilities	7	8	12	17	13
Total current liabilities	17	19	22	27	27
Other long-term liabilities	452,000	2	85,000	461,000	86,000
Total liabilities	18	21	24	29	31
Commitments and contingencies (Note 8)	—	—	—	—	—
Common stock of $0.0001 par value - Authorized: 1,000,000,000 shares at December 31, 2025 and 2024; Issued and outstanding: 166,718,150 and 168,849,591 shares at December 31, 2025 and 2024, respectively	17,000	17,000	16,000	16,000	15,000
Additional paid-in capital	378	387	389	379	364
Accumulated deficit	−261	−269	−270	−251	−172
Accumulated other comprehensive income	57,000	2,000	0	—	—
Total stockholders equity	117	117	119	128	192
Total liabilities and stockholders' equity	135	139	142	156	224

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	3	859,000	1	1	2
Accretion of discount on marketable securities, net	−856,000	−417,000	0	—	—
Stock-based compensation	8	9	8	12	27
Remeasurement of warrant liabilities	−1	−152,000	903,000	−3	−32
Decrease (increase) in accounts receivable	−6	531,000	−534,000	−4	402,000
Decrease (increase) in other current assets	405,000	3	−1	5	−8
Increase (decrease) in accounts payable	791,000	2	−350,000	−968,000	503,000
Increase (decrease) in deferred revenues	−1	213,000	−1	−3	2
(Decrease) increase in accrued expenses and other current liabilities	−2	−4	−4	5	4
Other	−184,000	−219,000	−155,000	102,000	0
Net cash provided by (used in) operating activities	9	11	−16	−61	−66
Purchases of marketable securities	−49	−41	0	0	—
Proceeds from maturities of marketable securities	36	0	0	—	—
Capitalized internal-use software costs	−11	−5	0	0	—
Acquisition of business, net of cash acquired	−5	0	0	—	—
Other	−72,000	−171,000	−141,000	−317,000	—
Net cash used in investing activities	−29	−46	−141,000	−317,000	−663,000
Proceeds from exercise of stock options	913,000	2	3	3	2
Payments for employee taxes withheld related to vested stock-based awards	−3	−3	−810,000	−853,000	0
Repurchase of common stock for retirement	−17	−11	0	—	—
Net cash (used in) provided by financing activities	−19	−12	2	2	251
Net decrease in cash and cash equivalents	−39	−47	−15	−60	185
Cash paid during the year for income taxes	417,000	100,000	200,000	122,000	0
Stock-based compensation capitalized as part of capitalization of internal-use software costs	922,000	614,000	0	0	—
Lease liabilities arising from obtaining right-of-use assets	0	595,000	0	466,000	0
Issuance of common stock as consideration for acquisition	1	0	0	—	—
Excise tax liability incurred for repurchase of common stock	86,000	0	0	—	—

Filings

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