10-Q Filing

Talkspace, Inc. CIK: 1803901 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-037283`
Period End Date	20230630
Filing Date	20230802
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	talk-20230630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 70 Cash Flow Statement 52 Stockholders Equity 34

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$126.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.54M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.42M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.64M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.37M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	166.20M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.92M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	161.16M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	166.20M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	161.16M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$152.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$137.44M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$456.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$677.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.16M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.53M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$464.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$491.00K	USD	Point-in-time
Total assets	`Assets`	$140.52M	USD	Point-in-time
Total assets	`Assets`	$156.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.48M	USD	Point-in-time
Deferred revenues	`ContractWithCustomerLiabilityCurrent`	$4.36M	USD	Point-in-time
Deferred revenues	`ContractWithCustomerLiabilityCurrent`	$3.68M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$10.44M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$16.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.61M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilitiesNonCurrent`	$939.00K	USD	Point-in-time
Warrant liabilities	`WarrantLiabilitiesNonCurrent`	$820.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$295.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$461.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$28.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.73M	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock of $0.0001 par value - Authorized: 1,000,000,000 shares at June 30, 2023 and December 31, 2022; Issued and outstanding: 166,204,295 and 161,155,030 shares at June 30, 2023 and December 31, 2022, respectively	`CommonStockValue`	$16.00K	USD	Point-in-time
Common stock of $0.0001 par value - Authorized: 1,000,000,000 shares at June 30, 2023 and December 31, 2022; Issued and outstanding: 166,204,295 and 161,155,030 shares at June 30, 2023 and December 31, 2022, respectively	`CommonStockValue`	$16.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$384.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$378.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-251.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-264.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$176.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$127.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$157.25M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$192.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$121.64M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$119.80M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$156.25M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$140.52M	USD	Point-in-time

Income Statement 70 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$59.99M	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$29.84M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$68.98M	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$35.65M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$30.43M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$15.30M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$34.42M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$17.83M	USD	1 Quarter
Gross profit	`GrossProfit`	$29.57M	USD	2 Qtrs
Gross profit	`GrossProfit`	$34.56M	USD	2 Qtrs
Gross profit	`GrossProfit`	$14.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.81M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$10.61M	USD	2 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$4.17M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$5.58M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$9.52M	USD	2 Qtrs
Clinical operations, net	`OtherCostAndExpenseOperating`	$3.28M	USD	2 Qtrs
Clinical operations, net	`OtherCostAndExpenseOperating`	$1.68M	USD	1 Quarter
Clinical operations, net	`OtherCostAndExpenseOperating`	$2.32M	USD	1 Quarter
Clinical operations, net	`OtherCostAndExpenseOperating`	$4.09M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$40.34M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$18.93M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$26.51M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$13.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.79M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.80M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.69M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$5.33M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.22M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$35.62M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$50.01M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$71.84M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$21.07M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$15.45M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$42.28M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$6.41M	USD	1 Quarter
Financial (income) expense, net	`InterestAndDebtExpenseIncome`	$-2.14M	USD	2 Qtrs
Financial (income) expense, net	`InterestAndDebtExpenseIncome`	$-1.71M	USD	1 Quarter
Financial (income) expense, net	`InterestAndDebtExpenseIncome`	$996.00K	USD	2 Qtrs
Financial (income) expense, net	`InterestAndDebtExpenseIncome`	$1.86M	USD	1 Quarter
Loss before taxes on income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$43.27M	USD	2 Qtrs
Loss before taxes on income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.31M	USD	2 Qtrs
Loss before taxes on income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$22.93M	USD	1 Quarter
Loss before taxes on income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.70M	USD	1 Quarter
Taxes on income	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Taxes on income	`IncomeTaxExpenseBenefit`	$89.00K	USD	1 Quarter
Taxes on income	`IncomeTaxExpenseBenefit`	$151.00K	USD	2 Qtrs
Taxes on income	`IncomeTaxExpenseBenefit`	$110.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-43.38M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-20.36M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.76M	USD	1 Quarter
Net loss per share: Basic	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Net loss per share: Basic	`EarningsPerShareBasic`	$-0.08	USD	2 Qtrs
Net loss per share: Basic	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Net loss per share: Basic	`EarningsPerShareBasic`	$-0.28	USD	2 Qtrs
Net loss per share: Diluted	`EarningsPerShareDiluted`	$-0.28	USD	2 Qtrs
Net loss per share: Diluted	`EarningsPerShareDiluted`	$-0.08	USD	2 Qtrs
Net loss per share: Diluted	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Net loss per share: Diluted	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	163.00M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	155.71M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	154.90M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	164.20M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	163.00M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	164.20M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	155.71M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	154.90M	shares	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-43.38M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-20.36M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$608.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$697.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$4.43M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$6.21M	USD	2 Qtrs
Remeasurement of warrant liabilities	`RemeasurementOfWarrantLiabilities`	$119.00K	USD	2 Qtrs
Remeasurement of warrant liabilities	`RemeasurementOfWarrantLiabilities`	$-1.22M	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.22M	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.65M	USD	2 Qtrs
Decrease in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.62M	USD	2 Qtrs
Decrease in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.45M	USD	2 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-977.00K	USD	2 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$381.00K	USD	2 Qtrs
Decrease in deferred revenues	`IncreaseDecreaseInDeferredCharges`	$672.00K	USD	2 Qtrs
Decrease in deferred revenues	`IncreaseDecreaseInDeferredCharges`	$1.24M	USD	2 Qtrs
Decrease in accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.15M	USD	2 Qtrs
Decrease in accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.06M	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$178.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$-172.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.75M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-33.11M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$160.00K	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$28.00K	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$18.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-160.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.35M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.49M	USD	2 Qtrs
Payments for employee taxes withheld related to vested stock-based awards	`PaymentsForEmployeeTaxesWithheldRelatedToRestrictedStockUnitsVested`	$201.00K	USD	2 Qtrs
Payments for employee taxes withheld related to vested stock-based awards	`PaymentsForEmployeeTaxesWithheldRelatedToRestrictedStockUnitsVested`	$67.00K	USD	2 Qtrs
(Payments) proceeds from reverse capitalization, net of transaction costs	`ProceedsFromReverseCapitalizationNetOfTransactionCosts`	-	USD	2 Qtrs
(Payments) proceeds from reverse capitalization, net of transaction costs	`ProceedsFromReverseCapitalizationNetOfTransactionCosts`	$-645.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.29M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.64M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-12.44M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-31.63M	USD	2 Qtrs
Cash and cash equivalents at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$126.10M	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 beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$166.62M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$138.54M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$126.10M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$198.26M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$166.62M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$138.54M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$97.00K	USD	2 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaidNet`	$176.00K	USD	2 Qtrs

Stockholders Equity 34 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$176.28M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$127.54M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$157.25M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$192.27M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$121.64M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$119.80M	USD	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	166.20M	shares	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	161.16M	shares	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$286.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$621.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.06M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$869.00K	USD	1 Quarter
Restricted Stock Units Vested	`RestrictedStockUnitsVested`	$-126.00K	USD	1 Quarter
Restricted Stock Units Vested	`RestrictedStockUnitsVested`	$-136.00K	USD	1 Quarter
Restricted Stock Units Vested	`RestrictedStockUnitsVested`	$-67.00K	USD	1 Quarter
Restricted Stock Units Vested	`RestrictedStockUnitsVested`	$-65.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.30M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.13M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.84M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.37M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-43.38M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-20.36M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-4.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.76M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$176.28M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$127.54M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$157.25M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$192.27M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$121.64M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$119.80M	USD	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	166.20M	shares	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	161.16M	shares	Point-in-time

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