Talkspace Inc Stock Price, News & Analysis

Talkspace (Nasdaq: TALK) announced the immediate resignation of President and COO Mark Hirschhorn following an internal review of his conduct during a recent company offsite. The executive team will take over his responsibilities. Talkspace is a prominent virtual behavioral healthcare provider, utilizing a secure technology platform to deliver therapy services, which have reportedly been accessed by over 2 million individuals. As of September 2021, more than 75 million lives are covered for Talkspace services through various insurance and employee assistance programs.

Talkspace reported a 23% year-over-year growth in Net Revenue for Q3 2021, reaching approximately $26.4 million. This was driven by a 92% increase in B2B eligible lives and a 96% rise in completed B2B sessions, totaling 71,300. However, the overall results fell short of management expectations due to a decline in B2C customers and a $3.4 million increase in credit loss reserves. Net income was reported at $1.5 million, a positive shift from a net loss of $2.7 million in the prior year.

Talkspace, Inc. (Nasdaq: TALK) announced on November 15, 2021, that co-founders Oren and Roni Frank are stepping down from their roles as CEO and Head of Clinical Services, respectively. They will serve as Strategic Advisors for six months. Chairman Douglas Braunstein has been appointed as interim CEO while the Board conducts a search for a permanent successor, engaging Korn Ferry for assistance. The Franks highlighted their pride in the company’s journey and their confidence in Talkspace's future growth amid the increasing demand for mental health services.

Talkspace (NASDAQ: TALK) has been awarded a $3 million grant from the National Institute of Mental Health (NIMH) to research the effectiveness of Cognitive Processing Therapy (CPT) for treating PTSD virtually. This study aims to enhance access to mental health care for individuals affected by trauma. Preliminary findings suggest that virtual CPT can significantly reduce trauma symptoms. The three-year study, led by researchers from Stanford and UT Health San Antonio, will recruit participants starting March 2022 and offer services in English and Spanish.

Talkspace (Nasdaq: TALK) is set to release its 2021 third quarter financial results on November 15, 2021, after market close. The company will host a conference call at 5 p.m. E.T. to review these results. Participants can join via a live audio webcast at this link or by dialing (800) 708-4540 for U.S. callers, and (847) 619-6397 for international callers. A replay will be available shortly after the call for 90 days. Talkspace offers comprehensive virtual behavioral healthcare through its secure web and mobile platform.

Talkspace (NASDAQ: TALK) has launched a new feature allowing members to choose their live therapy session format – video, audio, or chat. This move aims to enhance accessibility and personalization in mental health care. The decision was influenced by member feedback, responding to the need for flexible therapy options. The live chat function is expected to be available to most members immediately, with wider access planned for employer benefits later this year. Talkspace remains committed to offering comprehensive and convenient mental health services.

Talkspace reported robust Q2 results with net revenue increasing 73% year-over-year, reaching approximately $31 million. Active members grew over 40% to about 61,500, showcasing strong demand for virtual behavioral healthcare.

The company reaffirmed its FY 2021 net revenue guidance of $125 million, indicating an anticipated growth of 64% for the year. Despite operational challenges, including a 261.8% rise in operating expenses, Talkspace remains positioned to capture the growing mental health services market.

Talkspace, a leading virtual behavioral healthcare company, has appointed Erin Boyd as the new Chief Growth Officer for its Enterprise division, effective August 2, 2021. With over 25 years in healthcare, Boyd previously led Cigna’s behavioral network strategy. Talkspace aims to leverage her expertise to enhance growth and deliver innovative solutions to Enterprise customers. The appointment follows recent expansions in Talkspace's senior leadership team, which includes the Chief Medical Officer and Chief Financial Officer. Talkspace serves over 2 million users, providing therapy options through a secure digital platform.

Talkspace, a top virtual behavioral healthcare company, will present at the 41st Annual Canaccord Genuity Growth Conference on August 11, 2021, at 3:00 p.m. ET. Key executives including Oren Frank (Co-Founder and CEO), Mark Hirschhorn (President), and Jennifer Fulk (CFO) will participate. The conference presentation will be available live and as a replay on Talkspace's investor website. With over 2 million users and coverage for 55 million lives through various programs, Talkspace is addressing the urgent need for mental health care.