Talkspace Inc Stock Price, News & Analysis

Talkspace (NASDAQ: TALK) has been recognized as the “Best Large Service” by Verywell Mind in its 2022 Online Therapy Awards, evaluating 55 online therapy companies. The award highlights Talkspace's commitment to making mental health care accessible and affordable. Their platform accommodates users through various subscription plans and covers approximately 86 million lives as of September 30, 2022. The recognition underscores Talkspace's innovative approach to therapy, including text-based communication and therapist matching.

Talkspace (Nasdaq: TALK) announced participation in the 5th Annual Evercore ISI HealthCONx Conference on November 30, 2022, featuring CEO Jon R. Cohen, M.D., and CFO Jennifer Fulk. Talkspace is a leading virtual behavioral healthcare company dedicated to providing accessible mental health services, including therapy and medication management, to improve overall health and well-being. As of September 30, 2022, the company covered approximately 86 million lives through collaborations with employers and health plans.

Talkspace reported a strong increase in B2B revenue, adding approximately 9 million eligible lives and 10 new enterprise accounts in Q3 2022. Total revenue reached $29.3 million, an 11% increase year-over-year, driven by a 117% spike in B2B revenue. Despite the growth, B2C revenue declined by 33%, leading to a net loss of $18 million. Adjusted EBITDA loss improved to $15 million from $21 million. Operating expenses also decreased by 13%, reflecting efforts to enhance efficiencies.

Talkspace Appoints Dr. Jon R. Cohen as CEO

Talkspace (NASDAQ: TALK) has named Dr. Jon R. Cohen as its new Chief Executive Officer, effective immediately. Cohen, a board director since September 2022, is a veteran in healthcare with over 30 years of experience. He has a successful background in scaling technology-driven healthcare companies, notably at BioReference Laboratories. Cohen aims to enhance Talkspace’s B2B platform and expand its member base, driving best-in-class mental health care delivery.

Talkspace (Nasdaq: TALK) will announce its Q3 2022 financial results on November 8, 2022, before the market opens. A conference call to discuss these results will take place at 8:30 a.m. ET. Interested parties can join the call via an audio webcast or by calling in at specified numbers for U.S. and international participants. Talkspace provides innovative virtual mental healthcare services, covering approximately 77 million lives as of June 30, 2022, through various partnerships.

Talkspace, Inc. (Nasdaq: TALK) held its first Annual Meeting of Stockholders on September 15, 2022, where shareholders approved all proposed measures. Notably, Dr. Jon Cohen was elected to the board, bringing over 30 years of healthcare experience. He replaces Jeffrey Crowe with a term ending in 2025. Michael Hansen was appointed to complete Charles Berg's term as a Class II director expiring in 2023. The meeting also saw the re-election of Erez Shachar and Madhu Pawar, ratification of independent auditors, and approval of executive compensation reviews.

Talkspace (NASDAQ: TALK) has partnered with the University of Kentucky to provide all students free access to therapy services, including messaging, live video sessions, and a Self-Guided therapy app, addressing rising mental health concerns. Mental health issues among college students have increased significantly, with depression and anxiety rising 135% and 110%, respectively, from 2013 to 2021. The partnership aims to enhance student wellbeing and follows Talkspace’s collaboration with over 20 educational institutions for similar services.

Talkspace, Inc. (Nasdaq: TALK) reported its second quarter and first half 2022 financial results with a 4% decline in revenue to $29.8 million and a 3% revenue growth for the first half at $60 million. The company saw a 53% increase in B2B revenue which could not fully offset the 20% decline in B2C revenue. Gross profit decreased by 25% for Q2 and 19% for the first half. The net loss narrowed to $23 million for Q2, attributed to lower stock-based compensation. Despite challenges, the company's B2B segment continues to show growth, reflecting operational focus and disciplined resource allocation.

Talkspace (Nasdaq: TALK) announced it will release its 2022 second quarter and first half results on August 8, 2022, after market close. A conference call to discuss these results will take place at 5 p.m. ET. Participants can join the call via audio webcast or by phone at (888) 330-2391 for U.S. callers and (240) 789-2702 internationally, using participant code 2348878. A replay will be available for about 90 days after the call. Talkspace provides a secure platform for virtual behavioral healthcare.