Company: TALK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000950170-25-106018
Chunk: 2

Company: Talkspace, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 2
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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 Quarterly Report and the financial statements and related notes contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. 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 Part I, Item 1A, “Risk Factors” of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and “Forward-Looking Statements” sections and elsewhere in this Quarterly 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 three and six months ended June 30, 2025 and 2024.

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 health 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 mental health services of our members. Through its platform, Talkspace serves:

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

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

•Individual subscribers (“Consumer”) who subscribe directly to the Company's platform.

For the three and six months ended June 30, 2025, our clinicians completed approximately 385,100 and 735,100 sessions, respectively, related to members covered under our Payor customers, compared to 298,600 and 582,800 completed sessions, respectively, for the three and six months ended June 30, 2024. As of June 30, 202