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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% | -106.0% |
| 2023 | $150M | $-22M | $-19M | $-16M | -16.2% | 25.5% | -75.9% |
| 2022 | $120M | $-76M | $-80M | $-61M | -62.5% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 119.57 | 150.04 | 187.59 | 228.87 |
| Operating 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 | 98.04 | 90.78 | 95.20 |
| Research And Development | - | 21.66 | 17.07 | 10.28 | 9.54 |
| Selling General And Administration | - | 109.11 | 73.53 | 73.10 | 75.57 |
| Total Expenses | - | 196.59 | 173.25 | 192.09 | 225.72 |
| Operating Income | - | -77.02 | -23.21 | -4.50 | 3.15 |
| Total Operating Income As Reported | - | -83.16 | -23.21 | -4.50 | 3.15 |
| EBITDA | - | -75.67 | -21.92 | -3.64 | 6.03 |
| Normalized EBITDA | - | -69.53 | -21.92 | -3.64 | 6.03 |
| EBIT | - | -77.02 | -23.21 | -4.50 | 3.15 |
| Net Interest Income | - | 3.74 | 4.24 | 5.74 | 5.22 |
| Other Income Expense | - | -6.13 | - | - | - |
| Net Non Operating Interest Income Expense | - | 3.74 | 4.24 | 5.74 | 5.22 |
| Pretax Income | - | -79.42 | -18.96 | 1.24 | 8.37 |
| Tax Provision | - | 0.25 | 0.22 | 0.09 | 0.57 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.29 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -79.67 | -19.18 | 1.15 | 7.79 |
| Net Income From Continuing And Discontinued Operation | - | -79.67 | -19.18 | 1.15 | 7.79 |
| Net Income From Continuing Operation Net Minority Interest | - | -79.67 | -19.18 | 1.15 | 7.79 |
| Net Income | - | -79.67 | -19.18 | 1.15 | 7.79 |
| Net Income Common Stockholders | - | -79.67 | -19.18 | 1.15 | 7.79 |
| Net Income Including Noncontrolling Interests | - | -79.67 | -19.18 | 1.15 | 7.79 |
| Normalized Income | - | -74.83 | -19.18 | 1.15 | 7.79 |
| Diluted NI Availto Com Stockholders | - | -79.67 | -19.18 | 1.15 | 7.79 |
| Basic Average Shares | 86.78 | 156.89 | 165.04 | 168.91 | - |
| Diluted Average Shares | 86.78 | 156.89 | 165.04 | 176.50 | - |
| Reconciled Depreciation | - | 1.36 | 1.20 | 0.86 | 2.88 |
| Reconciled Cost Of Revenue | - | 59.23 | 75.31 | 101.31 | 130.52 |
| Total Unusual Items | 0 | -6.13 | 0 | 0 | - |
| Total Unusual Items Excluding Goodwill | 0 | -6.13 | 0 | 0 | - |
| Special Income Charges | 0 | -6.13 | 0 | 0 | - |
| Impairment Of Capital Assets | 0 | 6.13 | 0 | 0 | - |
| Depreciation Amortization Depletion Income Statement | - | - | 1.28 | 0.86 | 2.88 |
| Depreciation And Amortization In Income Statement | - | - | 1.28 | 0.86 | 2.88 |
| General And Administrative Expense | - | 36.27 | 21.30 | 22.57 | 21.77 |
| Other Gand A | - | 36.27 | 21.30 | 22.57 | 21.77 |
| Total Other Finance Cost | - | -3.74 | -4.24 | -5.74 | -5.22 |
| Other Operating Expenses | - | 6.59 | 6.16 | 6.54 | 7.21 |
| Selling And Marketing Expense | - | 72.84 | 52.22 | 50.52 | 53.80 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Talkspace, Inc.this co. | TALK | $871M | 111.78 | 7.44 | 6.7% | 129.10 |
| Annexon, Inc. | ANNX | $893M | -4.32 | 4.22 | -97.7% | -3.54 |
| Pacira BioSciences, Inc. | PCRX | $892M | 126.89 | 1.29 | 1.0% | 8.75 |
| Xencor, Inc. | XNCR | $890M | - | 1.40 | -14.5% | - |
| Cullinan Therapeutics, Inc. | CGEM | $887M | -4.03 | 2.17 |
| - |
| - |
| - |
| - |
| -53.8% |
| -3.32 |
| MeiraGTx Holdings plc | MGTX | $886M | -7.76 | -152.99 | 1971.4% | -10.17 |
| Jade Biosciences, Inc. | JBIO | $876M | - | -18.71 | -38.3% | - |
| Certara, Inc. | CERT | $873M | -547.16 | 0.82 | -0.2% | 9.65 |
| Arbutus Biopharma Corporation | ABUS | $859M | -25.65 | 11.22 | -43.7% | -25.48 |
| Peer Median | - | -6.04 | 1.34 | -26.4% | -3.43 | |