Business
Talkspace Reports Second Quarter 2021 Results
Q2 Net revenue grew 73% year-over-year to approximately $31 million Q2 Total active members grew more than 40% year-over-year to approximately 61,500 Reaffirm
About this update from Talkspace, Inc.
[{"type":"text","content":"Q2 Net revenue grew 73% year-over-year to approximately $31 million Q2 Total active members grew more than 40% year-over-year to approximately 61,500 Reaffirm FY 2021 Net revenue guidance, expecting 64% year-over-year growth NEW YORK, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Talkspace, Inc. (“Talkspace”) (Nasdaq: TALK), a leading virtual behavioral healthcare company, today reported financial results for the second quarter ended June 30, 2021. Oren Frank, Co-founder and CEO of Talkspace, said, “We continued to experience broad-based momentum throughout our business in the second quarter, driven by significant demand tailwinds and a generational shift to virtual care. Our differentiated and comprehensive product portfolio continues to resonate in the marketplace, and we are seeing traction in both expanding our offering within existing clients as well as adding new clients. We are ideally positioned to address the vast, unmet and growing demand for mental health services in innovative ways, and we are excited to keep executing on our strategy.” Second Quarter 2021 Financial Highlights The following table summarizes the Company’s performance during the second quarter of 2021, compared to the same period in 2020: Three Months Ended June 30, Period-Over-Period(amounts in thousands, except percentages)2021 2020 ChangeNumber of B2B eligible lives at period end 56,039.0 33,560.5 67.0% Total number of active members at period end 61.5 43.5 41.5% Net revenue$30,983 $17,877 73.3% Gross profit 19,286 12,307 56.7% Gross margin %62.2% 68.8% (660) basis pointsOperating expenses 46,847 12,948 261.8% Net loss 30,441 646 *Adjusted EBITDA (1)$(11,872) $(291) * * - not meaningful (1) Adjusted EBITDA is a non-GAAP financial measure. Refer to “Reconciliation of Non-GAAP Results to GAAP Results” table below. Outlook for Third Quarter 2021 and Full Fiscal Year 2021 The Company is reaffirming its net revenue guidance of $125 million for the full year ending December 31, 2021. The Company’s outlook for net revenue is $32 million for the third quarter ending September 30, 2021. Conference Call Details The Company will host a conference call at 5:00 p.m. E.T. to discuss these results and management’s outlook for future financial and operational performance. A live audio webcast will be available online at https://investors.talkspace.com/. The conference call can...