Talkspace, Inc. (TALK) Stock

Talkspace, Inc. (TALK) is a Healthcare stock trading at $5.22 (as of 2026-07-24), with a market capitalization of $874.42M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Talkspace, Inc. provides behavioral healthcare through an encrypted online and mobile platform. Services include psychiatry and therapy (such as for adolescents and for individual or couples), delivered via text, voice, and video messaging with therapists and live video sessions.

Understand Talkspace, Inc.: how it makes money

Talkspace delivers virtual behavioral healthcare through an encrypted web and mobile platform, where members communicate with therapists via text, video, and voice, and it earns money from payer and employer-related coverage (plus business to business).

The profit model is driven by payer coverage conversion and usage, eligible lives become active payer members (Payer Capture Rate), those members complete sessions (Completed Sessions), and the company collects for those services (Collections Rate).

Revenue by segment (latest quarter)
Payer$0.1B
B2B$0.0B
Direct-to-Employer$0.0B

Business quality (Weak): Clear virtual care engagement metrics exist (payer members, completed sessions, capture rate, collections rate), but the latest quarter shows an operating loss (operating margin -11.6%) and the provided revenue breakdown appears incomplete versus total revenue.

Bull case

  • Payer engagement is measurable and sizable, with 124,000 Unique Active Payer Members and 450,000 Completed Sessions: This can support recurring reimbursable demand through its covered virtual therapy model.
  • Collections look strong in the quarter, with a 94% Collections Rate: If sustained, it indicates relatively reliable cash collection tied to completed payer sessions.

Bear case

  • The company is not yet profitable, with an operating margin of -11.6%: Ongoing losses can limit flexibility to invest and can pressure valuation if improvements do not show up operationally.
  • Consumer out-of-pocket revenue appears negligible in the provided data (Out-of-Pocket Consumer Revenue is 0.0): That suggests growth may depend primarily on payer and employer channels, which can be harder to win and retain.
  • Only a portion of eligible lives convert to active payer members (Payer Capture Rate is 26%): Even with large Eligible Lives, lower conversion can cap session volume growth without changes in coverage or effectiveness.
Valuation — source: SEC EDGAR (first-party)
Price$5.22
Market Cap$874.42M
Price / Book7.73
Price / Sales3.84
DCF Value (model)$0.40
DCF Upside vs Price-92.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$228.87M
Net Margin3.4%
Revenue Growth (YoY)729.2%
EPS Growth (YoY)400.0%
Financial Health — source: SEC EDGAR
Altman Z-Score29.21 (safe)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.2
Industry P/E (Healthcare Services)27.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($53.85M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryHealthcare Services
CEOJon R. Cohen
Employees521
CountryUS
IPO Date2020-07-30

Related Companies (Business model: Hospital Operator / Acute-Care Provider; 8 closest by market cap; US-domiciled)

  • LifeStance Health Group, Inc. (LFST)
  • Privia Health Group, Inc. (PRVA)
  • GeneDx Holdings Corp. (WGS)
  • InnovAge Holding Corp. (INNV)
  • The Pennant Group, Inc. (PNTG)
  • Omada Health (OMDA)
  • U.S. Physical Therapy, Inc. (USPH)
  • Strata Critical Medical, Inc. (SRTA)
TALK earnings history · TALK institutional & insider holders · TALK KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.