The company reported its fourth-quarter and full-year earnings for 2024 Feb. 20. On a call with investors, Talkspace CFO Ian Harris said the company could pursue “inorganic opportunities that may further strengthen our market position.”
“As always, we will continuously evaluate the highest and best use of our capital,” Mr. Harris said during a Feb. 20 investor call transcribed by Seeking Alpha.
Here are three things to note:
- The company has pivoted its strategy from direct-to-consumer engagement to contracting with health plans and Medicare. The company now serves Medicare beneficiaries in 48 states and is in-network with many Medicare Advantage plans, CEO Jon Cohen, MD, said.
- Talkspace reported $187.6 million in revenue in 2024, up 25% from the previous year. The company provided 1.2 million teletherapy sessions reimbursed by payers in 2024, up 45% from 2023.
- Talkspace had 7,200 direct-to-consumer customers in 2024, down 38% from 2023.
At the Becker's Fall Behavioral Health Summit, taking place November 4–5 in Chicago, behavioral health leaders and executives will explore strategies for expanding access to care, integrating services, addressing workforce challenges and leveraging innovation to improve outcomes across the behavioral health continuum. Apply for complimentary registration now.