Company: TALK
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038107
Chunk: 142

Company: Talkspace, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 142
---
 to similarly titled measures of other companies because they may not calculate adjusted EBITDA in the same manner as we calculate the measure, limiting its usefulness as a comparative measure. Adjusted EBITDA should not be considered as an alternative to income (loss) before income taxes, net income (loss), income (loss) per share, or any other performance measures derived in accordance with U.S. GAAP. When evaluating our performance, you should consider adjusted EBITDA alongside other financial performance measures, including our net income (loss) and other GAAP results.

A reconciliation is provided below for adjusted EBITDA to net income (loss), the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review our financial statements prepared in accordance with GAAP and the reconciliation of our non-GAAP financial measure to its most directly comparable GAAP financial measure, and not to rely on any single financial measure to evaluate our business. We do not provide a forward-looking reconciliation of adjusted EBITDA guidance as the amount and significance of the reconciling items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts. These reconciling items could be meaningful.

We calculate adjusted EBITDA as net income (loss) adjusted to exclude (i) depreciation and amortization, (ii) interest and other expenses (income), net, (iii) tax benefit and expense, (iv) stock-based compensation expense, and (v) certain non-recurring expenses that we believe do not represent our on-going operations, where applicable.

50

The following table presents a reconciliation of adjusted EBITDA from the most comparable GAAP measure, net income (loss), for the years ended December 31, 2024 and 2023:

    Year EndedDecember 31,

    (in thousands)

    2024

    2023

    Net income (loss)

    $
    1,148

    $
    (19,182
    )

    Add:

    Depreciation and amortization

    859

    1,285

    Financial income, net

    (5,739
    )

    (4,245
    )

    Income tax expense

    94

    218

    Stock-based compensation

    9,173

    8,395

    Non-recurring expenses

    1,427

    —

    Adjusted EBITDA

    $
    6,962

    $
    (13,529