From GlobeNewswire: 2025-02-20 08:00:00

In the fourth quarter of 2024, Talkspace saw a 15% increase in total revenue to $48.7 million, with a net income of $1.2 million and adjusted EBITDA of $2.7 million. Full year 2024 showed a 25% growth in total revenue to $187.6 million, with a net income of $1.1 million and adjusted EBITDA of $7.0 million.

CEO Dr. Jon Cohen highlighted Talkspace’s strategic shift towards the payor market, reaching nearly 200 million covered lives. The company has established a competitive advantage by offering accessible, high-quality behavioral health services to a wide range of demographics.

Key performance metrics for the fourth quarter of 2024 included a 34% increase in Payor revenue and a 7% increase in Direct to Enterprise revenue. Gross profit increased by 3%, while operating expenses decreased by 11%. Net income improved to $1.2 million, and adjusted EBITDA was $2.7 million.

For the full year 2024, revenue increased by 25%, driven by a 54% increase in Payor revenue. Gross profit increased by 15%, with operating expenses decreasing by 7%. Net income improved to $1.1 million, and adjusted EBITDA was $7.0 million.

Looking ahead to 2025, Talkspace expects revenue to be in the range of $220 million to $235 million, with adjusted EBITDA in the range of $14 million to $20 million. The company continues to focus on providing high-quality mental healthcare services to a broad audience.

Adjusted EBITDA is a key performance measure for Talkspace, excluding certain items to assess operating performance. Investors are encouraged to review both GAAP and non-GAAP financial measures to evaluate the company’s performance accurately. Reconciliation of adjusted EBITDA to net income is provided for transparency.



Read more at GlobeNewswire:: Talkspace Announces Fourth Quarter and Full Year 2024