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Talkspace, Inc.

Talkspace, Inc.

NASDAQ•TALK
CEO: Dr. Jon R. Cohen M.D.
Sector: Healthcare
Industry: Medical - Care Facilities
Listing Date: 2020-07-30
Talkspace, Inc. operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists. The company offers Talkspace Employee Assistance Program (EAP) and Talkspace Behavioral Health plan (BH) that provides online therapy to members through BH and EAP offerings; and Talkspace for Business for members to access its platform services on a benefit plan paid by the enterprise. It serves its platform through third-party platforms or marketplace, such as Apple App Store and Google Play App Store. Talkspace, Inc. was founded in 2012 and is headquartered in New York, New York.
Contact Information
622 Third Avenue, New York, NY, 10017, United States
212-284-7206
www.talkspace.com
Market Cap
$545.72M
P/E (TTM)
129.0
30.8
Dividend Yield
--
52W High
$4.36
52W Low
$2.22
52W Range
48%
2.5
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024

Financial Dashboard

Q3 2025 Data

Revenue

$59.38M+25.28%
4-Quarter Trend

EPS

$0.02+76.58%
4-Quarter Trend

FCF

$1.90M-58.69%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Growth Strong Payor Mix Total revenue reached $165.9M USD for nine months, up 19.4%. Payor revenue increased 36.9% due to higher session volume.
Nine Month Net Income Achieved Swung to nine-month net income of $3.03M USD, reversing prior year net loss of $(66K) USD for the same period.
Payor Session Volume Surges Completed 1.17M Payor sessions in nine months, a 29.8% increase, reflecting successful strategic shift toward Payor customers.
Fixed Assets Capitalization Rises Fixed assets increased as capitalized internal-use software costs totaled $14.4M USD, nearly doubling from $6.5M USD previously.

Risk Factors

Operating Cash Flow Declines Net cash provided by operating activities fell to $3.16M USD for nine months, down 58.6% from $7.62M USD prior period.
Consumer Revenue Decreasing Consumer revenue dropped 29.3% for nine months due to strategic focus shift away from individual subscribers toward Payor members.
Economic Sensitivity Remains High Demand dependent on general economy, geopolitical conditions, and interest rates; downturns could disproportionately affect solution demand.
Warrant Liability Fair Value Volatility Private Placement Warrants Level 3 valuation relies on implied volatility; changes significantly impact fair value measurement inputs.

Outlook

Strategic Focus on Payor Growth Future revenue growth expected from increasing utilization within Payor members and expanding enterprise customer base expansion.
Share Repurchase Program Active Repurchased $17.2M USD (6.6M shares) in nine months; $11.8M USD remains authorized under the current program.
Recent Acquisition Completed Completed acquisition of Wisdo Health in October 2025 using cash and shares to expand holistic mental health offerings.
Tax Shield Benefits Expected New OBBBA legislation provides positive liquidity impact via permanent R&D expensing and Bonus Depreciation provisions.

Peer Comparison

Revenue (TTM)

Community Health Systems, Inc.CYH
$12.64B
+0.7%
agilon health, inc.AGL
$5.89B
+5.2%
Cross Country Healthcare, Inc.CCRN
$1.13B
-22.1%

Gross Margin (Latest Quarter)

Rigel Pharmaceuticals, Inc.RIGL
93.2%
+7.7 pp
Avanos Medical, Inc.AVNS
48.4%
-6.2 pp
Enhabit, Inc.EHAB
46.9%
+0.4 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
RIGL$748.47M6.7204.7%25.1%
SNDA$605.52M-12.2-51.7%80.1%
TALK$545.72M129.03.7%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+6.8%
Steady Growth
4Q Net Income CAGR
+38.9%
Profitability Improved
Cash Flow Stability
50%
Cash Flow Needs Attention

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $59.38M+25.3%
    |
    EPS: $0.02+76.6%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 8, 2025|
    Revenue: $54.31M+17.9%
    |
    EPS: $-0.00+14.3%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $52.18M+14.9%
    |
    EPS: $0.00-121.9%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 12, 2025|
    Revenue: $187.59M+25.0%
    |
    EPS: $0.01+105.7%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $47.40M+22.6%
    |
    EPS: $0.01-141.9%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $46.06M+29.2%
    |
    EPS: $-0.00-90.2%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $45.42M+36.2%
    |
    EPS: $-0.01-84.0%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 13, 2024|
    Revenue: $150.05M+25.5%
    |
    EPS: $-0.00+80.0%
    Beat