10-Q Filing

Talkspace, Inc. CIK: 1803901 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000950170-22-007572`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	talk-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 31 Cash Flow Statement 53 Stockholders Equity 22

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Allowance, Accounts Receivable	`AllowanceForDoubtfulAccountsReceivable`	$4.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$184.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$198.26M	USD	Point-in-time
Allowance, Accounts Receivable	`AllowanceForDoubtfulAccountsReceivable`	$4.71M	USD	Point-in-time
Restricted Cash	`RestrictedCash`	$400.00K	USD	Point-in-time
Accounts receivable, net of reserves of $4,706 and $4,918 as of March 31, 2022 and December 31, 2021, respectively	`AccountsReceivableNetCurrent`	$6.31M	USD	Point-in-time
Accounts receivable, net of reserves of $4,706 and $4,918 as of March 31, 2022 and December 31, 2021, respectively	`AccountsReceivableNetCurrent`	$5.51M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.04M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$9.56M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$195.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$213.33M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	155.10M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$624.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	152.86M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$633.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	155.10M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	152.86M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.09M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.44M	USD	Point-in-time
Goodwill	`Goodwill`	$6.13M	USD	Point-in-time
Goodwill	`Goodwill`	$6.13M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$82.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$82.00K	USD	Point-in-time
Total assets	`Assets`	$205.41M	USD	Point-in-time
Total assets	`Assets`	$223.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.43M	USD	Point-in-time
Deferred revenues	`ContractWithCustomerLiabilityCurrent`	$7.19M	USD	Point-in-time
Deferred revenues	`ContractWithCustomerLiabilityCurrent`	$6.03M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$10.23M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$12.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.18M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilitiesNonCurrent`	$4.07M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilitiesNonCurrent`	$3.19M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$191.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$86.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$29.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.33M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock of 0.0001 par value - Authoriszed: 1,000,000,000 shares at March 31, 2022 and December 31, 2021; Issued and outstanding: 155,104,655 and 152,862,447 shares at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$15.00K	USD	Point-in-time
Common stock of 0.0001 par value - Authoriszed: 1,000,000,000 shares at March 31, 2022 and December 31, 2021; Issued and outstanding: 155,104,655 and 152,862,447 shares at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$15.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$363.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$368.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-191.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-171.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-109.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-98.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$192.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$176.28M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$205.41M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$223.61M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Common stock, conversion ratio	`StockholdersEquityNoteStockSplitConversionRatio1`	1.13	pure	Point-in-time
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$30.15M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$27.16M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$9.81M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$15.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.34M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$2.96M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$5.04M	USD	1 Quarter
Clinical operations	`OtherCostAndExpenseOperating`	$2.08M	USD	1 Quarter
Clinical operations	`OtherCostAndExpenseOperating`	$1.78M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$22.25M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$21.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.01M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.61M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$36.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$29.90M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-21.21M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-12.56M	USD	1 Quarter
Financial (income) expense, net	`InterestAndDebtExpenseIncome`	$869.00K	USD	1 Quarter
Financial (income) expense, net	`InterestAndDebtExpenseIncome`	$-173.00K	USD	1 Quarter
Loss before taxes on income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-12.73M	USD	1 Quarter
Loss before taxes on income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-20.34M	USD	1 Quarter
Taxes on income	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Taxes on income	`IncomeTaxExpenseBenefit`	$21.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-12.74M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-20.36M	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$0.93	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$0.13	USD	1 Quarter
Weighted average number of common shares used in computing basic and diluted net loss per share:	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.76M	shares	1 Quarter
Weighted average number of common shares used in computing basic and diluted net loss per share:	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	154.08M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Restricted Cash	`RestrictedCash`	$400.00K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-12.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-20.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$462.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$429.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.51M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.37M	USD	1 Quarter
Warrant change in fair value	`WarrantIssuanceCostAndChangeInFairValue`	$875.00K	USD	1 Quarter
Warrant change in fair value	`WarrantIssuanceCostAndChangeInFairValue`	$-165.00K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.67M	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$800.00K	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.08M	USD	1 Quarter
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-4.92M	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.03M	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.06M	USD	1 Quarter
(Decrease) increase in deferred revenues	`IncreaseDecreaseInDeferredCharges`	$2.88M	USD	1 Quarter
(Decrease) increase in deferred revenues	`IncreaseDecreaseInDeferredCharges`	$-1.16M	USD	1 Quarter
Decrease in accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.84M	USD	1 Quarter
Decrease in accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-447.00K	USD	1 Quarter
Increase in other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	1 Quarter
Increase in other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$105.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.88M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-15.15M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$88.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$319.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-88.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-319.00K	USD	1 Quarter
Payment of deferred issuance costs	`PaymentOfDeferredIssuanceCosts`	-	USD	1 Quarter
Payment of deferred issuance costs	`PaymentOfDeferredIssuanceCosts`	$-75.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$797.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.06M	USD	1 Quarter
Payments for employee taxes withheld related to vested stock-based awards	`PaymentsForEmployeeTaxesWithheldRelatedToRestrictedStockUnitsVested`	-	USD	1 Quarter
Payments for employee taxes withheld related to vested stock-based awards	`PaymentsForEmployeeTaxesWithheldRelatedToRestrictedStockUnitsVested`	$-558.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.50M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$722.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-13.73M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.48M	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$184.53M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.25M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.77M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$198.26M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$184.53M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.25M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.77M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$198.26M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaidNet`	$5.00K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$12.00K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$174.00K	USD	1 Quarter
Deferred issuance costs	`PaymentOfNoncashFinancingDeferredIssuanceCosts`	$2.67M	USD	1 Quarter
Deferred issuance costs	`PaymentOfNoncashFinancingDeferredIssuanceCosts`	-	USD	1 Quarter
Issuance of warrant and other costs related to the Credit Agreement	`PaymentOfNoncashFinancingIssuanceOfWarrantAndOtherCostsRelatedToTheCreditAgreement`	-	USD	1 Quarter
Issuance of warrant and other costs related to the Credit Agreement	`PaymentOfNoncashFinancingIssuanceOfWarrantAndOtherCostsRelatedToTheCreditAgreement`	$175.00K	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Common stock, conversion ratio	`StockholdersEquityNoteStockSplitConversionRatio1`	1.13	pure	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-109.20M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-98.90M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$192.27M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$176.28M	USD	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	155.10M	shares	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	152.86M	shares	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$797.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.06M	USD	1 Quarter
Exercise of stock options, share	`StockIssuedDuringPeriodSharesStockOptionsExercised`	2.16M	shares	1 Quarter
Restricted Stock Units Vested	`RestrictedStockUnitsVested`	$-67.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.51M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.37M	USD	1 Quarter
Issuance of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$125.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-20.36M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-109.20M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-98.90M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$192.27M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$176.28M	USD	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	155.10M	shares	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	152.86M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.