MobiHealth News May 8, 2024
The quarter marks the first time the company reported profitability on an adjusted EBITDA basis.
Teletherapy company Talkspace reported its first quarter financial results for the year, showing a 36% increase in revenue over the prior-year period, to $45.4 million, and a 30% increase in gross profit to $21.7 million.
Operating expenses were down 9% from the prior year to $23.4 million, while payor revenue increased 92% from the first quarter of 2023, and direct-to-enterprise revenue increased 14%.
Net loss substantially improved in the first quarter of this year to $1.5 million, compared to $8.8 million last year, which the company said was driven by increased revenue and lower operating expenses.
Adjusted EBITDA was $0.8 million in the...
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