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TALKW

Talkspace, Inc.

TALKW

Talkspace, Inc. • NASDAQ
$0.04 ▼ -7.43% (-0.00)
Market Cap $6.81 M
52w High $0.05
52w Low $0.04
Dividend Yield 0%
P/E 0
Volume 4.51K
Outstanding Shares 165.66M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $59.381M ▲ $22.554M ▼ $3.251M ▲ 5.475% ▲ $0.02 ▲ $4.612M ▲
Q2-2025 $54.31M ▲ $25.183M ▲ $-541K ▼ -0.996% ▼ $-0.003 ▼ $253K ▼
Q1-2025 $52.182M ▲ $24.366M ▲ $318K ▼ 0.609% ▼ $0.002 ▼ $1.09M ▼
Q4-2024 $48.72M ▲ $20.964M ▼ $1.214M ▲ 2.492% ▲ $0.007 ▼ $1.392M ▼
Q3-2024 $47.399M $21.522M $-1.701M -3.589% $0.011 $2.031M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $91.608M ▼ $129.06M ▼ $19.955M ▲ $109.105M ▼
Q2-2025 $102.769M ▼ $132.786M ▼ $19.845M ▼ $112.941M ▼
Q1-2025 $108.351M ▼ $134.245M ▼ $20.827M ▼ $113.418M ▼
Q4-2024 $117.81M ▼ $138.677M ▲ $21.282M ▲ $117.395M ▼
Q3-2024 $118.994M $138.231M $20.643M $117.588M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $3.251M ▲ $4.748M ▲ $-6.316M ▼ $-9.121M ▼ $-10.689M ▼ $1.895M ▲
Q2-2025 $-253.441K ▼ $-351K ▲ $-2.367M ▲ $-3.017M ▲ $-5.735M ▲ $-2.846M ▲
Q1-2025 $318K ▼ $-1.239M ▼ $-9.019M ▲ $-6.357M ▼ $-16.615M ▲ $-3.236M ▼
Q4-2024 $1.214M ▼ $4.081M ▼ $-42.895M ▼ $-3.488M ▼ $-42.302M ▼ $2.406M ▼
Q3-2024 $1.874M $6.205M $-1.687M $-437K $4.081M $4.587M

Five-Year Company Overview

Income Statement

Income Statement Talkspace’s revenue has been climbing steadily over the past several years, and the company has moved from meaningful losses toward roughly break-even and now slight profitability. Gross profit has grown along with revenue, showing that the core service can scale without costs rising as fast as sales. Losses narrowed year after year before tipping into positive territory, helped by tighter expense control and the shift toward higher-volume B2B contracts. The main watchpoint is that the business is still relatively small in scale, so any slowdown in growth or step-up in costs could quickly swing results back into the red.

Balance Sheet

Balance Sheet The balance sheet looks relatively clean and simple. The company holds a solid cash position with no financial debt, which reduces financial risk and gives management flexibility. Total assets and equity have stabilized after earlier years of rapid change, and the company has moved from negative equity in its early days to a clearly positive equity base. The main risk is that the cash balance, while healthy, is no longer growing from financing and will increasingly depend on the business staying cash-generative to avoid future dilution.

Cash Flow

Cash Flow Cash flow has improved meaningfully. Operating cash flow moved from consistent outflows to modest inflows, indicating the business model is becoming self-sustaining rather than relying on outside funding. Capital spending is light, so free cash flow closely tracks operating cash flow and has also turned slightly positive. This suggests a capital‑light, software-like profile, but with thin cushions: modest positive cash flow can quickly reverse if growth investments or customer acquisition costs rise.

Competitive Edge

Competitive Edge Talkspace operates in a crowded, fast-growing teletherapy market but has carved out a differentiated spot. Its strongest edge is its deep integration with health insurers, employers, and government programs rather than relying mainly on direct consumer sign-ups. Being in-network for many patients makes its services easier to access and often cheaper for users, and these institutional relationships can be sticky. The company also stands out by offering both therapy and psychiatric medication management on one platform, plus its early brand recognition and partnerships, such as with large platforms like Amazon Health. Key competitive risks are intense rivalry from other digital mental health players, low switching costs for patients, and the constant need to attract and retain qualified therapists.

Innovation and R&D

Innovation and R&D Innovation is a central part of Talkspace’s story. The company has been an early mover in asynchronous, message-based therapy, enabling ongoing communication rather than only scheduled video visits. It has built a large, de-identified dataset of therapeutic interactions that can support better clinical tools over time. A dedicated AI group is rolling out features like self-harm risk detection from language patterns and automated “smart notes” that cut therapists’ paperwork, aiming to improve quality and efficiency. These tools, if executed responsibly, can deepen its moat. However, they must navigate privacy, regulatory, and clinical effectiveness concerns, and there is always a risk that competitors develop similar or better technology.

Summary

Overall, Talkspace has progressed from a cash-burning start-up toward a more mature, near-profitable digital health company with a lean, debt-free balance sheet. Revenue has grown steadily, margins have improved, and cash flow has swung from negative to slightly positive, reflecting a more disciplined cost structure and traction in its B2B and payor-focused strategy. Its competitive strengths lie in insurer and employer integration, a broad mental health offering that includes psychiatry, and meaningful investment in AI and data-driven tools. On the other hand, the company still operates at a relatively small scale in a highly competitive and fast-evolving market, where therapist retention, pricing pressure from large payors, and the need to keep innovating on technology and care quality remain ongoing risks. The future trajectory will largely depend on its ability to deepen partnerships, expand coverage (including Medicare), and turn early AI advantages into sustained operational and clinical benefits without eroding margins.