Company: TALK
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038107
Chunk: 133

Company: Talkspace, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 133
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Unless the context otherwise requires, all references in this section as to “Talkspace,” the “Company,” “we,” “us” or “our” refer to the business of Talkspace, Inc. and its consolidated subsidiaries.

The following discussion and analysis of our financial condition and results of operations should be read together with the financial statements and the related notes contained in this Annual Report. This discussion contains forward-looking statements that reflect our plans, estimates, and beliefs that involve risks and uncertainties. As a result of many factors, such as those discussed in the “Risk Factors” and “Forward-Looking Statements” sections and elsewhere in this Annual Report, our actual results may differ materially from those anticipated in these forward-looking statements.

The purpose of this section is to discuss and analyze our consolidated financial condition, liquidity and capital resources and results of operations for the years ended December 31, 2024 and 2023. For a discussion of our results of operations, liquidity and capital resources for the year ended December 31, 2022, see “Management's Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

Overview 

Talkspace is a healthcare company offering its members convenient and affordable access to a fully-credentialed network of  highly qualified providers. We are a leading virtual behavioral healthcare company connecting millions of patients with licensed  mental health providers across a wide and growing spectrum of care through virtual psychotherapy and psychiatry. We created a purpose-built platform to address the vast, unmet and growing demand for behavioral health services of our members. Through its platform, Talkspace serves:

•Health insurance plans (commercial and government) and employee assistance programs (“Payor”) who offer their members access to our platform at in-network reimbursement rates,

•Direct-to-Enterprise (“DTE”) comprised of enterprises who offer their enterprise members access to our platform while their enterprise is under an active contract with Talkspace, and

•Individual subscribers (“Consumer”) who subscribe directly to our platform.

For the year ended December 31, 2024 our revenues were $187.6 million compared to $150.0 million for the year ended December 31, 2023. As of December 31, 2024, we had approximately 179.4 million eligible lives through our Payor and DTE customers compared to 131.0 million eligible lives as of December 31, 202