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Talkspace, Inc., together with its subsidiaries, operates as a virtual behavioral healthcare company that connects patients with licensed mental health providers in the United States. The company provides psychotherapy and psychiatry services to treat various mental health conditions, such as depression, anxiety, trauma, and other fields of human challenges by operating an online platform for one-on-one therapy delivered through messaging, audio, and video channels. It serves health insurance plans and employee assistance programs, direct-to-enterprise customers, and individual subscribers. The company was formerly known as Groop Internet Platform Inc. and changed its name to Talkspace, Inc. in June 2021. The company was founded in 2012 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $229M | $6M | $8M | $-2M | 6.7% | 22.0% | 578.8% |
| 2024 | $188M | $-4M | $1M | $6M | 1.0% | 25.0% | - |
| 2023 | $150M | $-22M | $-19M | $-16M | -16.2% | 25.5% | - |
| 2022 | $120M | $-76M | $-80M | $-61M | -62.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 119.57 | 150.04 | 187.59 | 228.87 |
| Cost Of Revenue | 59.23 | 75.22 | 101.31 | 130.52 |
| Gross Profit | 60.34 | 74.83 | 86.28 | 98.35 |
| Operating Expense | 137.36 | 98.03 | 90.78 | 95.20 |
| Operating Income | -77.02 | -23.21 | -4.50 | 3.15 |
| EBITDA | -75.67 | -21.92 | -3.64 | 6.03 |
| EBIT | -77.02 | -23.21 | -4.50 | 3.15 |
| Pretax Income | -79.42 | -18.96 | 1.24 | 8.37 |
| Tax Provision | 0.25 | 0.22 | 0.09 | 0.57 |
| Net Income | -79.67 | -19.18 | 1.15 | 7.79 |
| Net Income Common Stockholders | -79.67 | -19.18 | 1.15 | 7.79 |
| Total Expenses | 196.59 | 173.25 | 192.09 | 225.72 |
| Research And Development | 21.66 | 17.07 | 10.28 | 9.54 |
| Selling General And Administration | 109.11 | 73.53 | 73.10 | 75.57 |
| Normalized EBITDA | -69.53 | -21.92 | -3.64 | 6.03 |
| Normalized Income | -74.83 | -19.18 | 1.15 | 7.79 |
| Basic EPS | -0.51 | -0.12 | 0.01 | 0 |
| Diluted EPS | -0.51 | -0.12 | 0.01 | 0 |
| Tax Effect Of Unusual Items | -1.29 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.08 | 0.07 |
| Total Unusual Items | -6.13 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -6.13 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -79.67 | -19.18 | 1.15 | 7.79 |
| Reconciled Depreciation | 1.36 | 1.20 | 0.86 | 2.88 |
| Reconciled Cost Of Revenue | 59.23 | 75.31 | 101.31 | 130.52 |
| Net Interest Income | 3.74 | 4.25 | 5.74 | 5.21 |
| Net Income From Continuing And Discontinued Operation | -79.67 | -19.18 | 1.15 | 7.79 |
| Total Operating Income As Reported | -83.16 | -23.21 | -4.50 | 3.15 |
| Diluted Average Shares | 156.89 | 165.04 | 176.50 | 0 |
| Basic Average Shares | 156.89 | 165.04 | 168.91 | 0 |
| Diluted NI Availto Com Stockholders | -79.67 | -19.18 | 1.15 | 7.79 |
| Net Income Including Noncontrolling Interests | -79.67 | -19.18 | 1.15 | 7.79 |
| Net Income Continuous Operations | -79.67 | -19.18 | 1.15 | 7.79 |
| Other Income Expense | -6.13 | 0 | 0 | 0 |
| Special Income Charges | -6.13 | 0 | 0 | 0 |
| Impairment Of Capital Assets | 6.13 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | 3.74 | 4.25 | 5.74 | 5.21 |
| Total Other Finance Cost | -3.74 | -4.25 | -5.74 | -5.21 |
| Other Operating Expenses | 6.59 | 6.16 | 6.54 | 7.21 |
| Depreciation Amortization Depletion Income Statement | 0 | 1.28 | 0.86 | 2.88 |
| Depreciation And Amortization In Income Statement | 0 | 1.28 | 0.86 | 2.88 |
| Selling And Marketing Expense | 72.84 | 52.22 | 50.52 | 53.80 |
| General And Administrative Expense | 36.27 | 21.30 | 22.57 | 21.77 |
| Other Gand A | 36.27 | 21.30 | 22.57 | 21.77 |
| Operating Revenue | 119.57 | 150.04 | 187.59 | 228.87 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Talkspace, Inc.this co. | TALK | $869M | 129.75↑ premium | 7.39 | 6.7% | 128.51 |
| Sana Biotechnology, Inc. | SANA | $877M | - | 5.39 | -151.8% | -4.57 |
| LB Pharmaceuticals Inc | LBRX | $877M | - | 2.57 | -8.4% | -20.06 |
| Bright Minds Biosciences Inc. | DRUG | $872M | - | 10.63 | -14.9% | - |
| SELLAS Life Sciences Group, Inc. | SLS | $862M |
| - |
| 10.09 |
| -37.9% |
| - |
| Janux Therapeutics, Inc. | JANX | $860M | - | 0.89 | -11.9% | 0.55 |
| EVMN | EVMN | $859M | - | 3.66 | -33.5% | -8.93 |
| Theravance Biopharma, Inc. | TBPH | $859M | 8.09 | 2.87 | 35.7% | -296.42 |
| MannKind Corporation | MNKD | $849M | 137.50 | -16.57 | -11.5% | 19.49 |
| Peer Median | - | 72.80 | 3.26 | -13.4% | -6.75 | |