Talkspace(TALK) - 2024 Q4 - Annual Results

Revenue Growth - Full-year 2024 total revenue increased by 25% year-over-year to $187.6 million[1] - Fourth quarter 2024 total revenue grew by 15% year-over-year to $48.7 million[1] - Payor revenue for the fourth quarter increased by 33.5% year-over-year to $33.8 million, and for the full year, it rose by 53.8% to $124.3 million[15] Consumer Revenue - Consumer revenue declined by 34.8% year-over-year in Q4 to $5.3 million and by 30.4% for the full year to $24.8 million[15] Profitability and EBITDA - Adjusted EBITDA for Q4 was $2.7 million, improving from a loss of $0.3 million in Q4 2023[7] - Adjusted EBITDA for 2024 was $6,962,000, compared to a loss of $13,529,000 in 2023, indicating a substantial improvement[33] - Net income for the full year was $1.1 million, a significant improvement from a net loss of $19.2 million in 2023[7] - Net income improved significantly from a loss of $19,182,000 in 2023 to a profit of $1,148,000 in 2024[26] Financial Expectations - The company expects 2025 revenue to be in the range of $220 million to $235 million[7] Expenses and Liabilities - Operating expenses decreased by 11% year-over-year in Q4 to $21.0 million[7] - Total current liabilities decreased from $21,648,000 in 2023 to $19,023,000 in 2024, a reduction of approximately 12.06%[23] Assets and Equity - Total assets decreased from $142,221,000 in 2023 to $138,677,000 in 2024, a decline of approximately 3.85%[23] - Total stockholders' equity decreased from $118,646,000 in 2023 to $117,395,000 in 2024, a decline of approximately 1.06%[23] Cash Flow - The company reported a net cash provided by operating activities of $11,704,000 in 2024, compared to a net cash used of $16,393,000 in 2023[26] - The company incurred a net cash used in investing activities of $46,732,000 in 2024, compared to $141,000 in 2023[26] Stock-Based Compensation - Stock-based compensation increased from $8,395,000 in 2023 to $9,173,000 in 2024, an increase of about 9.25%[33] Accounts Payable - The company’s accounts payable increased from $6,111,000 in 2023 to $7,710,000 in 2024, an increase of approximately 26.2%[23]