Behavioral Health Business May 7, 2024
Talkspace Inc. (Nasdaq: TALK) continues to thin its financial losses as it grows its payer- and government-focused business lines.
The once direct-to-consumer, texting-based digital therapy company continues to move closer to profitability. On an adjusted basis, earnings totaled about $774,000. This is the first profitable quarter since the company’s IPO in 2021. Its net loss, however, was $1.5 million for the quarter, an 83% improvement from the year before.
The company’s future is clearly in working with payers. Talkspace CEO Dr. Jon Cohen said its push into commercial and, more recently, into Medicare is “cementing our position as the behavioral health company with the most covered lives across the United States.”
Talkspace will “go live” in traditional Medicare by...
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