Company: TALK
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038107
Chunk: 111

Company: Talkspace, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 111
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 determine the impact it may have on its consolidated financial statements and related disclosures.

NOTE 3. REVENUE RECOGNITIONThe following table presents the Company’s consolidated revenues from sales to unaffiliated customers disaggregated by revenue source:

        Year Ended December 31,

        2024

        2023

        2022

        (in thousands)

        Payor
         
        $
        124,339

        $
        80,823

        $
        36,168

        DTE

        38,466

        33,614

        $
        28,241

        Consumer

        24,788

        35,608

        55,158

        Total
         
        $
        187,593

        $
        150,045

        $
        119,567

70

For the year ended December 31, 2024, three customers represented 10% or more of the Company's consolidated revenues and these amounts were approximately $27.6 million, $25.3 million and $22.7 million. For the year ended December 31, 2023 and 2022, two customers represented 10% or more of total revenue.Accounts Receivable, netThe Company had accounts receivable, net, related to revenue from DTE customers of $6.0 million and $7.8 million at December 31, 2024 and December 31, 2023, respectively. As of December 31, 2024 and 2023, the balance of accounts receivable, net, related to revenue from Payor customers was $3.6 million and $2.4 million, respectively. Credit losses related to these receivables were immaterial for the years ended December 31, 2024, 2023 and 2022.Deferred RevenuesFor the year ended December 31, 2024 and 2023, the Company recognized revenues of $2.0 million and $2.8 million, respectively, that were included in deferred revenues at the beginning of the year. As of December 31, 2024, deferred revenue mainly related to the Company’s Consumer subscription business.

NOTE 4. INTANGIBLE ASSETS, NET  Intangible assets is comprised of the following:  

        As of December 31,

        (in thousands)
         
        2024

        2023

        Intangible asset with finite