Core Insights - Talkspace, Inc. reported a total revenue growth of 25% year-over-year, reaching $59.4 million in Q3 2025, primarily driven by a 42% increase in Payor revenue [1][4][11] - The company achieved a net income of $3.3 million, reflecting a 73% increase compared to the same period last year, alongside an adjusted EBITDA of $5.0 million, which is a significant improvement from $2.4 million in Q3 2024 [1][5][4] - Share repurchases amounted to $8.8 million during the quarter, indicating a commitment to returning value to shareholders [1] Financial Performance - Total revenue for the nine months ended September 30, 2025, was $165.9 million, a 19% increase from $138.9 million in the same period of 2024 [3][14] - Payor revenue for Q3 2025 was $45.5 million, up 42.1% from $32.0 million in Q3 2024, while Consumer revenue decreased by 23.1% year-over-year [14][4] - Costs and operating expenses increased by 21% year-over-year to $57.2 million, primarily due to a rise in the cost of revenue [4][14] Key Metrics - The number of completed Payor sessions increased by 37% year-over-year to 432.2 thousand, while the number of unique active Payor members rose by 29% [3][4] - Adjusted EBITDA for the nine months ended September 30, 2025, was $9.2 million, reflecting a 114% increase from $4.3 million in the same period of 2024 [5][29] - Cash, cash equivalents, and restricted cash at the end of the period stood at $43.7 million, with short-term marketable securities at $52.1 million [3][19] Strategic Initiatives - The CEO highlighted the positive momentum achieved through product enhancements, new marketing strategies, and additional payor partnerships, which contributed to record quarterly revenue [4][3] - The recent acquisition of Wisdo Health and advancements in AI initiatives are expected to broaden Talkspace's mental health service offerings [4][3]

Core Insights - Talkspace Inc. (NASDAQ:TALK) has announced the acquisition of Wisdo Health, an AI-powered social health and peer support platform, to enhance its mental health care offerings and address the public health crisis of loneliness and isolation [1][3]. Group 1: Acquisition Details - The acquisition of Wisdo Health aligns with Talkspace's mission to provide comprehensive mental health care [1]. - Wisdo Health has demonstrated significant health improvements, including reductions in loneliness and depression by up to 28%, and improvements in quality of life [3]. Group 2: Service Integration - The integration of Wisdo Health's capabilities will complement Talkspace's existing services, allowing for personalized, stepped care solutions that address both social and mental health needs [2]. - The combined entity aims to improve user outcomes and expand peer community capabilities to support all demographics [3].

Core Insights - Talkspace, a leading online behavioral health care company, will release its third quarter 2025 results on October 30, 2025, before market open and will host a conference call at 8:30am ET to review the results [1] Company Overview - Talkspace is a prominent virtual behavioral healthcare provider focused on improving mental health access and quality [3] - The company offers a wide range of mental health services, including therapy for individuals, teens, and couples, as well as psychiatric treatment and medication management for adults [4] - Talkspace's services are accessible through a fully-encrypted web and mobile platform that complies with HIPAA and other regulatory requirements [5] Service Accessibility - Most Americans can access Talkspace services through health insurance plans, employee assistance programs, and partnerships with healthcare companies, or as a free benefit through employers, schools, or government agencies [5]

Core Insights - Talkspace has become one of the largest online therapy platforms in the U.S., serving an estimated market of 200 million Americans and addressing various mental health issues [1] - The platform has a significant focus on teen mental health, running the largest teen mental health program in the country, providing free services to students aged 13 to 17 in cities like New York, Baltimore, and Seattle [3][11] - Talkspace is developing an AI tool aimed at improving mental health support, which is expected to be HIPAA compliant and ready for market in about three months [12] Company Overview - Talkspace offers both asynchronous text messaging and live video sessions with thousands of licensed therapists, with over 90% of teen users preferring messaging therapy [4][18] - The company has provided mental health support to 40,000 teens in New York City, resulting in 500 suicide interventions and over 40,000 suicide alerts in two years [11] - Talkspace has around 6,000 licensed therapists across the U.S. and aims to combine empathy with technology in its services [18] Industry Context - The rise of unregulated AI chatbots has raised concerns about their impact on at-risk teens, with reports of tragic outcomes linked to their use [2][5] - Talkspace's CEO highlighted the dangers of AI large language models (LLMs) in mental health contexts, noting their lack of clinical oversight and potential to exacerbate mental health crises [7][9] - There is emerging evidence that AI can lead to better mental health outcomes, with Talkspace's AI-powered "Talkcast" feature increasing patient engagement by 30% from the second to third therapy session [15][17]

Market Overview - The stock market is currently perceived as being in a shaky territory, particularly for large-cap growth stocks which have significantly contributed to the gains in 2025, as their valuation multiples appear to be widely stretched [1] Analyst Background - The analyst has extensive experience covering technology companies on Wall Street and has worked in Silicon Valley, providing insights into various themes shaping the industry today [1] Contribution and Influence - The analyst has been a regular contributor on Seeking Alpha since 2017 and has been quoted in numerous web publications, with articles syndicated to popular trading apps like Robinhood [1]

Summary of Talkspace (TALK) FY Conference - August 12, 2025 Company Overview - **Company**: Talkspace (TALK) - **Industry**: Digital and tech-enabled mental health services Key Points and Arguments Financial Performance - **Q2 Growth**: Talkspace reported an 18% overall growth and a 35% growth in payer revenue, indicating a strong acceleration compared to Q1 [3][4] - **User Growth**: The company added 10,000 net new users in Q2, marking the largest increase in over two years [4] - **Direct to Enterprise Delays**: Some direct to enterprise contracts were delayed from Q2 to Q3, but three significant contracts were announced, expected to generate SaaS revenue in Q3 [5] Strategic Initiatives - **AI Investments**: Talkspace is investing in AI to enhance user engagement and improve therapist support, including the development of a unique LLM model focused on mental health [6][7] - **Transition to Payer Model**: The company is transitioning from a consumer-based model to a payer-based model, which involves a different approach to patient engagement and provider network management [10][12] - **Payer Relationships**: Talkspace has established significant relationships with payers, covering approximately 200 million lives, which is a substantial increase from the previous year [16] Market Dynamics - **Narrowing Networks**: Payers are narrowing their networks and focusing on quality over quantity, which may impact companies that do not provide comprehensive services [19][21] - **Partnerships**: Talkspace announced a partnership with a national matching network to streamline the patient journey, allowing users to schedule appointments directly through payer directories [22][23] New Patient Populations - **TRICARE and Medicare**: Talkspace is targeting military families through TRICARE and is gradually expanding into the Medicare market, which presents unique challenges due to its size and diversity [28][30] Therapist Recruitment and Retention - **Supply Side Stability**: Currently, Talkspace is not facing issues with therapist supply, maintaining quick matching times for users [36][38] - **Psychiatry Focus**: The company is expanding its psychiatric services, which have seen significant growth, with a 40% increase in sessions [40][41] AI and Innovation - **Personalized Engagement**: Talkspace launched a personalized podcast feature for users, resulting in a 15% increase in engagement between sessions [45] - **Safety in AI**: The company emphasizes the importance of building a safe LLM for mental health, contrasting it with existing models that may not be appropriate for therapy [46][48] Additional Important Insights - **Operational Complexity**: The operational and regulatory challenges of managing a mental health network are significant, providing a defensive moat against competitors [43] - **Flexibility in Marketing**: Talkspace employs a nimble marketing strategy, adjusting allocations based on performance to ensure effective user growth [33][34] This summary encapsulates the key insights from the Talkspace conference, highlighting the company's growth, strategic initiatives, and market positioning within the mental health industry.

PART I [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited H1 2025 financial statements show increased revenue, reduced net loss, and decreased cash from investing and financing activities [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $132.8 million by June 30, 2025, driven by reduced cash, with liabilities and equity also declining Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $54,342 | $76,692 | | Marketable securities | $48,427 | $41,118 | | Accounts receivable, net | $15,422 | $9,643 | | Total current assets | $120,667 | $130,182 | | **Total assets** | **$132,786** | **$138,677** | | **Liabilities & Equity** | | | | Total current liabilities | $18,540 | $19,023 | | **Total liabilities** | **$19,845** | **$21,282** | | **Total stockholders' equity** | **$112,941** | **$117,395** | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported increased revenue for Q2 and H1 2025, alongside a significantly reduced net loss for the six-month period Statement of Operations Summary (in thousands) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $54,310 | $46,058 | $106,492 | $91,474 | | Loss from operations | $(1,790) | $(3,486) | $(2,875) | $(5,165) | | Net loss | $(541) | $(474) | $(223) | $(1,940) | | Net loss per share (Basic & Diluted) | $(0.00) | $(0.00) | $(0.00) | $(0.01) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 saw net cash used in operating activities, increased usage in investing and financing, resulting in a $22.4 million net decrease in cash Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(1,590) | $1,418 | | Net cash used in investing activities | $(11,386) | $(2,150) | | Net cash used in financing activities | $(9,374) | $(8,263) | | **Net decrease in cash and cash equivalents** | **$(22,350)** | **$(8,995)** | | **Cash and cash equivalents at end of period** | **$54,342** | **$114,913** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail business operations, revenue sources by channel (Payor, DTE, Consumer), capital management including share repurchases, and consolidation of VIEs - The company operates as a **single reportable segment**, providing **virtual behavioral healthcare services**. The CEO, as the chief operating decision maker, reviews consolidated results to assess performance and allocate resources[30](index=30&type=chunk)[31](index=31&type=chunk) Revenue by Source for Six Months Ended June 30 (in thousands) | Revenue Source | 2025 | 2024 | | :--- | :--- | :--- | | Payor | $78,343 | $58,453 | | DTE | $18,986 | $19,541 | | Consumer | $9,163 | $13,480 | | **Total revenue** | **$106,492** | **$91,474** | - The Board of Directors authorized a share repurchase program, initially for **$15.0 million** and later increased by an additional **$25.0 million**. In the first six months of 2025, the company repurchased **3,060,438 shares** for **$8.4 million**[53](index=53&type=chunk)[54](index=54&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes H1 2025 revenue growth to the Payor segment, leading to a narrowed operating loss and improved Adjusted EBITDA, while maintaining strong liquidity Key Business Metrics | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Number of completed Payor sessions (thousands) | 735.1 | 582.8 | | Number of health plan customers | 31 | 24 | | Number of enterprise customers | 165 | 187 | | Number of Consumer active members (thousands) | 6.6 | 10.7 | - The increase in revenue for the first six months of 2025 was primarily due to a **$19.8 million (34.0%)** increase in Payor revenue, driven by more completed sessions. This was partially offset by a **$4.3 million (32.0%)** decrease in Consumer revenue, reflecting a strategic shift in marketing focus towards Payor members[96](index=96&type=chunk) - General and administrative expenses decreased by **$1.6 million (12.8%)** for the six months ended June 30, 2025, mainly due to lower severance payments compared to 2024 when certain key executives departed[101](index=101&type=chunk) Adjusted EBITDA Reconciliation (in thousands) | Line Item | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net loss | $(223) | $(1,940) | | Depreciation and amortization | 1,368 | 421 | | Stock-based compensation | 4,688 | 5,359 | | Financial income, net | (2,851) | (3,422) | | Income tax expense | 199 | 197 | | Non-recurring expenses | 1,057 | 1,338 | | **Adjusted EBITDA** | **$4,238** | **$1,953** | [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes occurred in market risk disclosures during the six months ended June 30, 2025, compared to the prior annual report - There were **no material changes** to the information regarding quantitative and qualitative disclosures about market risk during the six months ended June 30, 2025[136](index=136&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2025[137](index=137&type=chunk) - **No material changes** to the company's internal control over financial reporting occurred during the second quarter of 2025[138](index=138&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) As of June 30, 2025, the company reports no material pending legal proceedings, consistent with financial statement notes - The Company has **no material pending legal proceedings** as of June 30, 2025[141](index=141&type=chunk) [Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) No material changes occurred to the risk factors previously disclosed in the company's Annual Report on Form 10-K for 2024 - During the six months ended June 30, 2025, there were **no material changes** to the risk factors detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024[142](index=142&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=26&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details share repurchase activity for Q2 2025, with all repurchases in April, leaving $20.6 million available under the program Share Repurchases for Q2 2025 | Period | Total Shares Purchased | Average Price Paid Per Share | Approx. Dollar Value Remaining (in thousands) | | :--- | :--- | :--- | :--- | | April 1 - 30 | 541,268 | $2.62 | $20,632 | | May 1 - 31 | — | — | — | | June 1 - 30 | — | — | — | | **Total** | **541,268** | **$2.62** | **$20,632** | [Defaults Upon Senior Securities](index=26&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None[145](index=145&type=chunk) [Mine Safety Disclosures](index=26&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[146](index=146&type=chunk) [Other Information](index=26&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q2 2025 - **No directors or officers adopted, modified, or terminated** a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" during the three months ended June 30, 2025[147](index=147&type=chunk) [Exhibits](index=27&type=section&id=Item%206.%20Exhibits) The report includes various exhibits, notably CEO and CFO certifications and Inline XBRL data files - Exhibits filed with the report include **CEO and CFO certifications** (31.1, 31.2, 32.1, 32.2) and **Inline XBRL documents** (101.INS, 101.SCH, 104)[150](index=150&type=chunk)

Core Insights - Talkspace, a leading behavioral healthcare company, will participate in the Canaccord Genuity 45th Annual Growth Conference on August 12, 2025 [1] - The company is committed to providing high-quality mental healthcare and believes it is essential for overall health [2] - Talkspace offers a range of mental health services, including therapy for individuals, teens, couples, and psychiatric treatment [3] Company Overview - Talkspace pioneered text-based communication with licensed therapists and now provides various therapy options, including live video, audio, and unlimited asynchronous text messaging [3] - All services are delivered through a secure, fully-encrypted platform that complies with HIPAA and other regulatory requirements [4] - Access to Talkspace is available through health insurance plans, employee assistance programs, and partnerships with healthcare companies [4]

Financial Performance - Second Quarter 2025 revenue reached $64 million[6] - Payor revenue increased by 35% year-over-year[16] - Adjusted EBITDA grew nearly 100% year-over-year[16] - The company has approximately $103 million in cash and equivalents, including available for sale securities, with zero debt[16] - Approximately $14 million of shares were repurchased under the company's buyback plan[16] Business Growth & Innovation - Unique Active Payor Members increased by 25%, and Payor sessions grew by 29% year-over-year[15] - The company is partnering with AWS Generative AI Innovation Center to develop a Safety and Quality Model[15] - The company enhanced its suicide detection technology and expanded into areas like substance misuse and abuse or neglect[15] Partnerships & Expansion - The company deepened its relationship with Amazon by launching Amazon Pharmacy Integration[16] - The company expanded in women's health through a new partnership with Tia Health[16] - Several additional partners, such as Genomind, Bark, and Hinge, will integrate Talkspace into their ecosystem[16] Financial Guidance - The company maintains its revenue guidance of $220 million to $235 million, representing a 17% to 25% year-over-year increase[21] - The company maintains its Adjusted EBITDA guidance of $14 million to $20 million, representing a 101% to 187% year-over-year increase[22]

[Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) [Second Quarter 2025 Financial Highlights](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Highlights) Talkspace achieved strong Q2 2025 top-line growth with total revenue increasing 18% to **$54.3M**, driven by a 35% rise in Payor revenue, leading to a narrower net loss and a 94% increase in Adjusted EBITDA to **$2.3M** Q2 2025 Key Financial Metrics (vs. Q2 2024) | Metric | Q2 2025 | % YoY Change | | :--- | :--- | :--- | | Total Revenue | $54.3M | 18% | | Payor Revenue | $40.5M | 35% | | Consumer Revenue | $4.4M | (32)% | | Net Loss | $(0.5)M | (14)% | | Adjusted EBITDA | $2.3M | 94% | Q2 2025 Key Operational Metrics (vs. Q2 2024) | Metric | Q2 2025 | % YoY Change | | :--- | :--- | :--- | | Completed Payor Sessions | 385.1 thousand | 29% | | Unique Active Payor Members | 111.2 thousand | 25% | - The company repurchased **$1.4M** of its shares during the second quarter of 2025[1](index=1&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) CEO Dr. Jon Cohen attributed positive Q2 operational momentum to H1 technology and marketing investments, resulting in 10% sequential growth in unique active payor members and completed payor sessions, providing strong H2 2025 visibility - Management highlighted positive momentum from technology and marketing investments made in H1 2025[2](index=2&type=chunk) - The company achieved **10%** sequential growth in unique active payor members and completed payor sessions, indicating a strong trajectory for the second half of the year[2](index=2&type=chunk) [Financial Guidance](index=2&type=section&id=Financial%20Guidance) [Full Year 2025 Outlook](index=2&type=section&id=Full%20Year%202025%20Outlook) Talkspace reaffirmed its full-year 2025 financial guidance, expecting total revenue between **$220M** and **$235M** and Adjusted EBITDA between **$14M** and **$20M** Full Year 2025 Guidance | Metric | Guidance Range | | :--- | :--- | | Revenue | $220M - $235M | | Adjusted EBITDA | $14M - $20M | [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) In Q2 2025, total revenue grew **17.9%** year-over-year to **$54.3M**, primarily from a **35.3%** increase in Payor revenue, while operating loss significantly reduced by **48.7%** to **$(1.8)M** Revenue Breakdown (Q2 2025 vs Q2 2024) | Revenue Stream | Q2 2025 ($ thousands) | Q2 2024 ($ thousands) | % Change | | :--- | :--- | :--- | :--- | | Payor revenue | 40,501 | 29,945 | 35.3% | | DTE revenue | 9,403 | 9,628 | (2.3)% | | Consumer revenue | 4,406 | 6,485 | (32.1)% | | **Total revenue** | **54,310** | **46,058** | **17.9%** | Profitability Metrics (Q2 2025 vs Q2 2024) | Metric ($ thousands) | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Loss from operations | (1,790) | (3,486) | 48.7% | | Net loss | (541) | (474) | (14.1)% | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, Talkspace maintained a strong liquidity position with **$54.3M** in cash and **$48.4M** in marketable securities, resulting in **$132.8M** in total assets and **$112.9M** in stockholders' equity Key Balance Sheet Items (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $54,342 | $76,692 | | Total current assets | $120,667 | $130,182 | | Total assets | $132,786 | $138,677 | | Total liabilities | $19,845 | $21,282 | | Total stockholders' equity | $112,941 | $117,395 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For H1 2025, net cash used in operating activities was **$1.6M**, with investing activities using **$11.4M** and financing activities using **$9.4M** (including **$8.4M** in stock repurchases), leading to a **$22.4M** net decrease in cash Cash Flow Summary - Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(1,590) | $1,418 | | Net cash used in investing activities | $(11,386) | $(2,150) | | Net cash used in financing activities | $(9,374) | $(8,263) | | **Net decrease in cash** | **$(22,350)** | **$(8,995)** | - The company repurchased **$8.4M** of common stock for retirement during the first six months of 2025[19](index=19&type=chunk) [Non-GAAP Financial Measures and Reconciliation](index=9&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliation) [Definition and Use of Non-GAAP Measures](index=9&type=section&id=Definition%20and%20Use%20of%20Non-GAAP%20Measures) Adjusted EBITDA serves as a key non-GAAP metric for assessing operating performance and business planning, providing supplemental information by excluding non-core items, despite its inherent limitations - Adjusted EBITDA is a key performance measure used by management for evaluating operating performance and for business planning purposes[20](index=20&type=chunk) - The company defines Adjusted EBITDA as net loss excluding depreciation and amortization, stock-based compensation, net financial income, income tax, and certain non-recurring expenses[24](index=24&type=chunk) [Reconciliation of Net Loss to Adjusted EBITDA](index=10&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20EBITDA) In Q2 2025, Talkspace reconciled a GAAP net loss of **$(0.54)M** to an Adjusted EBITDA of **$2.28M**, primarily by adjusting for **$2.36M** in stock-based compensation and **$1.0M** in non-recurring expenses Reconciliation of Net Loss to Adjusted EBITDA (Q2 2025 vs Q2 2024, in thousands) | Line Item | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Net loss** | **$ (541)** | **$ (474)** | | Depreciation and amortization | 718 | 220 | | Stock-based compensation | 2,355 | 3,107 | | Financial income, net | (1,325) | (3,044) | | Income tax expense | 76 | 32 | | Non-recurring expenses | 999 | 1,338 | | **Adjusted EBITDA** | **$ 2,282** | **$ 1,179** | - Non-recurring expenses for Q2 2025 primarily consisted of severance costs, one-time legal fees, and other one-time expenses[26](index=26&type=chunk) [Other Information](index=3&type=section&id=Other%20Information) [Conference Call and Webcast Information](index=3&type=section&id=Conference%20Call%20and%20Webcast%20Information) The Q2 2025 earnings conference call and webcast were held on August 5, 2025, at 8:30 a.m. E.T., with a replay available for approximately 90 days - The earnings conference call was held on August 5, 2025, at 8:30 a.m. E.T., with a replay available for 90 days[5](index=5&type=chunk) [About Talkspace](index=3&type=section&id=About%20Talkspace) Talkspace is a leading virtual behavioral healthcare provider, offering therapy and psychiatric treatment via a secure, HIPAA-compliant platform accessible through various partnerships - Talkspace offers a comprehensive suite of virtual mental health services, including therapy and psychiatric treatment, through a fully-encrypted web and mobile platform[6](index=6&type=chunk)[7](index=7&type=chunk)[8](index=8&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements regarding the company's financial condition and future performance, which are subject to risks and uncertainties, and readers should refer to SEC filings for detailed risk factors - The report contains forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. The company directs readers to its SEC filings, such as the Form 10-K, for a full list of risk factors[9](index=9&type=chunk)