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Sep 30, 2023
Talkspace Q3 2023 Earnings Report
Revenue increased driven by B2B growth, net loss reduced, and operating expenses decreased.
Key Takeaways
Talkspace reported a 32% increase in revenue to $38.6 million, driven by a 79% increase in B2B revenue. The net loss improved to $4.4 million, and operating expenses decreased by 30% year-over-year. The company is focused on expanding its clinical network and improving access and quality metrics.
Revenue increased 32% year-over-year to $38.6 million.
B2B revenue grew 79% year-over-year, while consumer revenue declined by 32%.
Operating expenses decreased by 30% year-over-year to $24.0 million.
Net loss improved to $4.4 million from $18.0 million in the third quarter of 2022.
Forward Guidance
Talkspace expects revenue to be approximately $146 million and adjusted EBITDA loss to be in the range of $(16) million to $(17) million for the fiscal year 2023. The company expects to reach break-even Adjusted EBITDA by the end of the first quarter of 2024, with a cash balance of approximately $120 million.
Positive Outlook
- Revenue to be approximately $146 million, improved from previous expectations of $137 million to $142 million.
- Adjusted EBITDA loss to be in the range of $(16) million to $(17) million, narrowed from previous expectations of $(16) million to $(19) million.
- Company expects to reach break-even Adjusted EBITDA by the end of the first quarter of 2024.
- Company expects a cash balance of approximately $120 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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