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Talkspace (TALK) Q3 Earnings call transcript Oct 29, 2024

Daily EarningsWednesday, Oct 30, 2024 3:15 pm ET

1min read

COHN -- TALK --

In Talkspace's third quarter 2024 earnings call, the company showcased its continued growth and strategic initiatives aimed at strengthening its position as a trusted behavioral health provider. The call, led by CEO Dr. Jon Cohen and CFO Ian Harris, highlighted key themes and trends that reflect the company's commitment to addressing the nation's mental health crisis and expanding its reach into various sectors.

Financial Performance and Strategic Initiatives

Talkspace reported a 23% year-over-year increase in revenue to $47.4 million, marking its third consecutive profitable quarter with an adjusted EBITDA of $2.4 million. This growth is attributed to the company's focus on strengthening relationships with key Payor partners and its strategic approach to clinical excellence at scale.

One of the most notable strategic initiatives is Talkspace's expansion into the Medicare and military sectors. The company is now CMS approved in approximately 40 states and live in 30 of them, providing access to nearly 160 million people. This move underscores Talkspace's commitment to addressing the mental health needs of seniors and military personnel, who face unique challenges.

Marketing and Technology Improvements

Talkspace is also making significant strides in marketing and technology improvements to enhance the user experience and increase member engagement. The company announced a partnership with Wisdo, an AI-driven social health platform, to address the issue of social isolation among seniors. Additionally, Talkspace's direct-to-enterprise segment grew by 17% year-over-year, driven by its successful partnerships with municipalities, schools, and employers.

Looking Ahead

As Talkspace looks ahead, it plans to focus on increasing the number of people who recognize and try Talkspace as their therapy option, keeping them engaged for subsequent sessions, and improving long-term outcomes. The company's efforts include optimizing marketing efforts, making significant technology improvements, and increasing outside referrals. Notably, Talkspace's collaboration with Amazon Health Services marks a significant step in expanding its reach and improving discoverability.

Conclusion

Talkspace's third quarter 2024 earnings call underscores the company's continued growth and strategic initiatives aimed at addressing the nation's mental health crisis. Its focus on expanding into new sectors, improving the user experience, and leveraging strategic partnerships positions Talkspace well for future success. As the company continues to navigate the dynamic landscape of mental health care delivery, investors and stakeholders will closely watch its progress in the coming quarters.

Comments

Empty_Somewhere_2135

04/02

This could shake crypto trust levels hard

1kczulrahyebb

04/02

Kelvin Lo and YAI should face consequences. This isn't just a market issue, it's a trust issue.

careyectr

04/03

@1kczulrahyebb Yikes, what a sketchy move.

Touma_Kazusa

04/03

@1kczulrahyebb Totally agree, they should face the music.

Ok-Swimmer-2634

04/02

Stablecoins need rock-solid backing. TUSD's situation highlights the need for better oversight.

moazzam0

04/02

@Ok-Swimmer-2634 True, stablecoins need solid backing. Oversight's key.

Anonym0us_amongus

04/02

Techteryx got blindsided. Hope they recover, but this could set back Web 3 gains big time.

lilshortie262

04/03

@Anonym0us_amongus You think TUSD can recover?

AbuSaho

04/02

Imagine putting $456M in some offshore account without even share certificates. Wildly reckless.

Searchingstan

04/02

Whoa, what a mess! 🤯 Hope regulators step up and secure these funds. Hong Kong's reputation is on the line here.

ReindeerApart5536

04/02

Aria DMCC in Dubai? Sounds like a movie plot, but this is real-life financial chaos.

raool309

04/02

This whole situation reeks. Fingers crossed that TUSD doesn't take a nosedive. Stability is key in crypto.

Anteater_Able

04/02

Web 3 needs tighter regs, for real.

abdul10000

04/03

@Anteater_Able True, regs can help stabilize.

vaxop

04/02

Sun's right; Web 3 can boost economies. But fraud like this could stall progress. Let's see how HK handles it.

pd14200

04/02

Regulatory action is a must. Hong Kong's reputation is on the line, and so is investor trust.

LoinsSinOfPride

04/02

What a mess, right? 🤔

CertifiedWwDuby

04/03

@LoinsSinOfPride 😂

jobsurfer

04/02

Stablecoins may promise calm, but sometimes the storm comes from within

comoestas969696

04/02

This whole situation reeks. Hong Kong needs to tighten up regs or risk losing trust. 🤔

birdflustocks

04/02

I'm in $TSLA and $AAPL for safety. This whole stablecoin scene feels too shaky right now.

aiolyfe

04/02

@birdflustocks How long you been in $TSLA? You think it's a safer bet than these stablecoins?

Straight_Turnip7056

04/03

@birdflustocks I'm in $AAPL too. I like steady tech stocks. No regrets holding them through the ups and downs.

greenpride32

04/22

SoundHound's edge in automotive AI might be its best bet against the Big Tech giants. Niche focus counts.

JobuJabroni

04/22

$3.8 billion market and growing? Piece of cake or is it? The competition's fierce but SoundHound's got potential.

rubiyan

04/22

84.6% revenue growth, bullish on $SHAI.

investortrade

04/22

Risk of technological leapfrogging? Always a worry, but SoundHound's got some barriers with their proprietary tech.

Touma_Kazusa

04/22

84.6% revenue growth? That's not just a bump, that's a rocket ship. $SHAI might be one to watch. 📈

Guy_PCS

04/22

Chat AI in cars? Finally, someone's listening. No more fiddly buttons when you can just talk. Future is now, folks.

AltruisticStorage110

04/22

@Guy_PCS 💸

Blackhole1123

04/22

SOUNdHound's AI got that sweet edge computing

BURBEYP

04/22

Let's not sleep on the localization aspect. Cultural relevance could be the game-changer in markets like China and Latin America.

Protect_your_2a

04/22

Tencent's got the muscle, SoundHound's got the brains. Together, they're unstoppable in the automotive AI game.

Lunaerus

04/22

Automotive AI is like the wild west right now. Plenty of players, plenty of risks, but also plenty of rewards.

Throwaway420_69____

04/22

Tencent team-up = serious market mojo 🚀

sobfreak

04/22

"The car is becoming the next smart device." Tom Park nailed it. Drivers want seamless, conversational control.

Stevitop

04/22

@sobfreak Tom Park's on point, but let's see if SoundHound delivers. Market's full of surprises.

Nobuevrday

04/22

@sobfreak Totally agree. Conversational control rocks.

Frozen_turtle__

04/22

Wow!Those $SOUN whale-sized options block were screaming danger! � Closed positions just in time profiting more than $299

kenicholz

8 hour ago

Damn!!🚀 GM stock went full bull trend! Cashed out $377 gains!

vaxop

02/14

Birkin bags are the ultimate status symbol.

CertifiedWwDuby

02/14

Hermès is killing it with their limited drops.

No-Sandwich-5467

02/14

Birkin bags driving growth? No surprise there. Limited supply + demand = goldmine. Anyone else holding Hermès in their portfolio?

that_is_curious

02/14

Anyone else holding $HES as a long-term play?

GlobalEvent6172

02/14

Bag trends drive more than just looks; they're a powerhouse in luxury stocks. 🤔

Booknerdworm

02/14

Ready-to-Wear sector on fire with 15% boost.

UpbeatBase7935

02/14

@Booknerdworm Ready-to-Wear's hot, but watch out, Hermès might inflate next quarter.

BlockChain Baron

02/14

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r2002

02/14

@BlockChain Baron Sure

Silver-Feeling6281

02/14

15% up? That's some serious rocket fuel. Wonder if $TSLA could learn a thing or two about consistency.

MonstarGaming

02/14

@Silver-Feeling6281 Yeah, Hermès is crushing it. Tesla's got its own vibe, though.

yeahyoubored

02/14

Hermès is like the F1 of luxury, always accelerating. Who else is cashing in on those Birkin bags? 🤑

NoAd7400

04/20

I stick to $TSLA and $AAPL for now. Crypto's too volatile and scammy for my taste. Gotta play it safe!

BunchProfessional680

04/20

Fake tokens are like phishing emails—click at your own peril. Always check the URL and trustlines, folks.

Chotibobs

04/20

@BunchProfessional680 😂

lies_are_comforting

04/20

Smart contracts are like digital guestbooks—open for anyone to sign. But that's also what makes 'em vulnerable. 🤔

MysteryMan526

04/20

Liquidity's like oxygen for tokens—without it, they're just floating in space. ETHG's got neither air nor grace.

Throwaway420_69____

04/20

Ethereum's like the Wild West—fast but risky. XRP's more like Main St—secure but slower. Which one suits you best?

jett_29

04/20

@Throwaway420_69____ alright

Repturtle

04/20

Always remember: if a deal seems too good (or shady), it probably is. DYOR, y'all. 🚀

Really_Schruted_It

04/20

@Repturtle Sure

Curious_Chef5826

04/20

ETHG scam got me thinking about my holdings. Sticking with $TSLA and $AAPL for now. Crypto still too volatile.

haarp1

04/20

Ethereum's flexibility is both its strength and weakness. It's like a Swiss Army knife—useful but requires caution.

lies_are_comforting

04/20

Vet's got a point—XRPL's architecture is like a fortress compared to Ethereum's frontier town. Security's not just a feature, it's a strategy.

tinyraccoon

04/20

Blockaid flagging ETHG as malicious? Sounds like they're waving a red flag. Heed the warning, traders.

SISU-MO

04/20

Scams like these highlight Ethereum's vulnerabilities. XRP's architecture offers a more secure alternative, limiting attack surfaces.

ashish1512

04/20

@SISU-MO True, XRP's got less risk.

haarp1

04/20

$420k ETHG scam? Oof, that's one epic burn. Don't let FOMO make you skip due diligence.

MasterDeath

04/20

Damn!!NVDA demonstrated textbook-perfect bottom and peak confirmation signals via Peak Seeker framework,with subsequent price movements validating 83.6% predictive accuracy

Playful-Guitar6127

04/20

@MasterDeath How accurate have their other predictions been?

itsjustsciencee

04/20

@MasterDeath Sweet gains, bro.

Smurfsville

04/11

15%-40% tax range is steep. But, who's surprised? Governments grabbing at crypto like it's a gold rush. 🚀

Jazzlike-Check9040

04/11

@Smurfsville Steep, yeah. Govs cashing in.

Interesting_Award_86

04/11

@Smurfsville True, crypto's a wild ride.

WickedSensitiveCrew

04/11

Crypto taxes in Turkey getting tighter, bros.

zarrasvand

04/11

0.03% transaction tax, if implemented, could boost revenue. But, will it deter trading? Only time will tell. 🤔

GoodCoffeee

04/11

Businesses taxed at 20% seems fair-ish. Lower than before, so maybe they're trying to attract crypto action without too much fuss.

yahoofinance

04/11

@GoodCoffeee 20% ain't bad, but what about individual rates? 15% to 40% seems wide.

Ok_Secret4642

04/11

GIB and CMB working together is a good thing. Oversight with innovation can lead to stability. Turkey might be onto something here.

Smurfsville

04/11

Supporting blockchain growth is smart. Turkey could become a crypto hub if they play their cards right. EU alignment wouldn't hurt either.

pd14200

04/11

Hodl strategy: Long on $BTC, short on lira.

Ou_deis

04/11

@pd14200 How long you planning to hodl BTC? Any targets in mind?

moneymonster420

04/11

Crypto taxes in Turkey? Sounds like they're trying to keep up with the digital age. Gotta love a country that acknowledges the trend.

Really_Schruted_It

04/11

@moneymonster420 Yessir

Super-Implement4739

04/11

No broad crypto exemptions, but losses can offset gains. That's a silver lining for traders. Maybe Turkey isn't as scary as it seems.

LurkerMcLurkington

04/11

@Super-Implement4739 What’s your take on the 15%-40% tax range? Do you think it’ll chill trading volume?

Dependent-Teacher595

04/11

No specific deductions for crypto, but general income tax thresholds offer some relief. Not a bad balance, maybe.

TY5ieZZCfRQJjAs

04/11

Mining and staking rewards as ordinary income? Sounds like they're treating it like a day job. Time to rethink my strategy.

Buffet_fromTemu

04/11

Crypto taxes in Turkey getting tighter. Non-compliance can hit hard. Better keep records tight if you're in the game long-term.

PancakeBreakfest

04/11

I'm holding some $BTC and $ETH, but I'm cautious. High taxes might cap gains, so I'm diversifying into stablecoins and stocks like $AAPL.

bmrhampton

04/11

@PancakeBreakfest How long you been holding BTC and ETH? Curious if you got any specific stocks in mind or timeframe for diversifying.

MasterDeath

04/11

@PancakeBreakfest I hear ya, high taxes can hit gains hard. I'm all about diversifying too. Got a decent chunk in stablecoins and stocks like $AAPL myself. Works for me, but everyone's risk tolerance is different.

NoAd7400

04/11

Turkey sees crypto as a financial asset now. Smart move, given the inflation mess they're in. Assets appreciate, right?

nrthrnbr

04/11

Fines and audits looming. Non-compliance isn't worth it. Keep records solid and consult pros if needed. Safety first, folks.

spanishdictlover

04/11

@nrthrnbr 💸

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