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NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Talkspace (NASDAQ: TALK) – a leading online behavioral health company – was named by Crain's New York Business as one of the publication's "2024 Best Places to Work." The annual list (subscription required) recognizes 70 top employers from small, medium, and large companies and organizations headquartered in New York City who are offering their employees an exceptional experience, whether in office or remotely. Selections are based on extensive employee surveys a ...

Amazon's health platform could send a lot of business to Talkspace. Talkspace (TALK 2.21%), the provider of virtual behavioral-health services, just made a move that builds on the bull thesis for the stock. Thanks to a new collaboration with Amazon, there's a good chance that it will be able to grow its revenue significantly faster than before. But Talkspace isn't exactly a low-risk pick, nor is its success inevitable. Let's break down the importance of its Amazon deal and analyze what the business is still ...

Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in TALK over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. The inf ...

Talkspace announced an intriguing new partnership with Amazon Health Services today. Shares of online mental healthcare provider Talkspace (TALK 14.62%) have soared 16% as of 3:30 p.m. ET Tuesday, according to data provided by S&P Global Market Intelligence. The company announced a partnership with Amazon's health services unit, in a move it says aims to improve the discoverability of its services among the 145 million people who are covered by its benefits. Management believes partnering with the world's s ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39314 TALKSPACE, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 84-4636604 (State or oth ...

Financial Data and Key Metrics Changes - Revenue increased by 29% year-over-year to $46.1 million, marking the second consecutive profitable quarter with adjusted EBITDA of $1.2 million [5][18][22] - Gross profit rose by 18% year-over-year to $21 million, with a gross margin of 45.5%, lower than the previous year due to a shift towards payer revenue [20][21] - GAAP net loss improved to $500,000, a $4.2 million improvement compared to the same period last year [22] Business Line Data and Key Metrics Changes - Payer revenue grew by 62% year-over-year to $29.9 million, with payer sessions completed increasing by 49% year-over-year to nearly 299,000 [19][6] - Direct-to-Enterprise revenue increased by 20% year-over-year to $9.6 million, driven by contracts such as those with New York City [11][19] - Consumer revenue declined by 28% year-over-year to $6.5 million, aligning with the strategy to optimize traffic conversion [20] Market Data and Key Metrics Changes - Covered lives increased from 131 million to 145 million, with expectations to reach nearly 200 million within the next 12 months [6][8] - Brand awareness of Talkspace increased to over 30%, a 7% increase compared to the previous year [10] Company Strategy and Development Direction - The company aims to expand Medicare coverage to all 50 states by year-end and is focused on increasing capture rates and utilization among the growing covered lives [7][8] - Continued investment in product improvements and marketing efforts to enhance member engagement and retention [9][13] - The company is exploring partnerships to enhance brand reach and recognition, positioning itself as a leader in quality mental health care [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future of the business, supported by survey data indicating increased openness to therapy among the population [4][5] - The company is preparing for a significant rollout of Medicare Advantage plans, with expectations for increased member engagement and revenue growth in 2025 [48][54] - Management emphasized the importance of maintaining quality care and operational efficiency as the company scales [14][21] Other Important Information - The company ended the quarter with $114.9 million in cash and cash equivalents, down $5.4 million sequentially due to share repurchase activities [23] - The Board of Directors increased the share repurchase authorization by $25 million, in addition to the original $15 million [23] Q&A Session Summary Question: How should we think about the economics of government lives compared to commercial? - Management indicated that it is too early to provide data on Medicare utilization and reimbursement, as they are still in the early stages of rollout [27][31] Question: Can you provide details on the Humana TRICARE East contract? - Management confirmed that the rollout is straightforward once live, but it may take time to see revenue from the new population [35][37] Question: What challenges have been identified within the Medicare population? - Management noted significant interest in Medicare, but emphasized the need for a careful rollout to maximize patient capture [46][48] Question: How is the company addressing the competitive landscape? - Management highlighted the extensive investment and time required to transition to a payer model, which gives Talkspace a competitive advantage [38][43] Question: What is the expected impact of the Medicare rollout on marketing spend? - Management stated that while marketing spend will increase, it is not expected to have a negative impact on EBITDA this year [52][54] Question: Is there increased demand in the employer channel? - Management confirmed strong interest in mental health support from mid to lower-level firms, with a growing pipeline in the employer segment [55][56]

| --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------| | | | | | | | | | | | | 2024 SECOND QUARTER EARNINGS PRESENTATION 2 Disclaimer This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this presentation that do not relate to maers of historical fact should be considered forward-looking, including statements regarding our financial condition, anticipated financial ...

Exhibit 99.1 Talksp Talkspace Announces Second Quarter 2024 Results 2Q 2024 Total revenue grew 29% year-over-year, driven by 62% year-over-year growth in Payor revenue Reduced GAAP Net loss to $0.5 million from $4.7 million year-over-year 2Q 2024 Adjusted EBITDA1 of $1.2 million Board approved an additional $25 million share repurchase program | --- | --- | --- | --- | --- | |--------------------------------------------------------------------|-------------------|-------------------------------------------- ...

2Q 2024 Total revenue grew 29% year-over-year, driven by 62% year-over-year growth in Payor revenue Reduced GAAP Net loss to $0.5 million from $4.7 million year-over-year 2Q 2024 Adjusted EBITDA1 of $1.2 million Board approved an additional $25 million share repurchase program NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Talkspace, Inc. ("Talkspace" or the "Company") (NASDAQ: TALK), today reported second quarter 2024 financial results. | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------- ...