Company: TALK
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038107
Chunk: 140

Company: Talkspace, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 140
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 operations expenses 

Clinical operations expenses increased by $0.4 million, or 6.2%, to $6.5 million for the year ended December 31, 2024 from $6.1 million for the year ended December 31, 2023, primarily due to an increase in employee-related costs, inclusive of non-cash stock compensation expense, partially offset by a decrease in third-party subcontractor costs.

Sales and marketing expenses 

Sales and marketing expenses decreased by $1.9 million, or 3.6%, to $50.6 million for the year ended December 31, 2024 from $52.5 million for the year ended December 31, 2023. The decrease in sales and marketing expenses was primarily driven by a decrease in subcontractor costs and employee-related costs, inclusive of non-cash stock compensation expense, partially offset by an increase in direct marketing and promotional costs.

General and administrative expenses

General and administrative expenses increased by $1.3 million, or 6.2%, to $22.6 million for the year ended December 31, 2024 from $21.3 million for the year ended December 31, 2023. The increase in general and administrative expenses for the year ended December 31, 2024 was primarily due to an increase in severance costs and professional fees, partially offset by a decrease in third-party subcontractor costs.

Financial income, net

Financial income, net was $5.7 million for the year ended December 31, 2024, compared to financial income, net of $4.2 million for the year ended December 31, 2023. For the year ended December 31, 2024, financial income, net, primarily consisted of $6.0 million of interest income from our money market accounts and marketable securities. For the year ended December 31, 2023, financial income, net, primarily consisted of $5.3 million of interest income from our money market accounts partially offset by $0.9 million in non-cash losses resulting from the remeasurement of warrant liabilities. The increase in financial income, net of $1.5 million or 35.2% for the year ended December 31, 2024, was primarily due to an increase in interest earned from our money market accounts and marketable securities and a decrease in non-cash losses resulting from the remeasurement of warrant liabilities.

Taxes on income

Taxes on income consists primarily