(MENAFN- Baystreet)
Coya Inches up Ahead of ALS Address
Novavax to Settle Suit
SolarEdge Stock Suffers Post-Earnings Plunge
Pioneer Drops on Newest Numbers
Nvidia Wins, Palo Alto Networks Loses, and More Previous Articles Subscribe to Get Small Cap News & Alerts
Glenn Wilkin - Thursday, February 22, 2024
Talkspace Hikes on Results
Talkspace, Inc. (NASDAQ: TALK) saw its stock fortunes move sharply upward Thursday, on reports fourth-quarter financial results.
The company reported Thursday revenue increased 40% over the prior-year period to $42.4 million, driven by a 138% year-over-year increase in Payor revenue and a 3% year-over-year increase in DTE revenue; partially offset by a 26% year-over-year consumer revenue decline. Operating expenses were $23.6 million, down 37% year-over-year, driven by a reduction across all its operating cost categories.
Net loss was $(1.3) million, an improvement from $(18.3) million net loss in the fourth quarter of 2022, primarily driven by lower operating expenses, and an increase in revenue.
CFO Jon Cohen said,“2023 was a pivotal year for Talkspace, demonstrating our commitment to strategic execution. Our achievements and streamlined strategy have significantly fortified our foundation for 2024. We're poised for substantial growth in Payor revenue and continue to lead in covered mental healthcare. The opportunities in Direct to Enterprise are vast, and with our scalable infrastructure, we are set for profitable expansion.”
For 2024 Talkspace expects revenue to be in the range of $185 million to $195 million, and adjusted EBITDA to be in the range of $4 million to $8 million.
TALK shares popped 36 cents, or 15.4%, to $2.70.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN22022024000212011056ID1107888611
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.