$TALK
Talkspace, Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022023288 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $30.24M $29.33M
YoY Change 3.66% 11.28%
Cost Of Revenue $14.07M $14.74M
YoY Change 6.55% 20.92%
Gross Profit $16.18M $14.60M
YoY Change 1.28% 2.98%
Gross Profit Margin 53.49% 49.76%
Selling, General & Admin $26.21M $26.04M
YoY Change -35.54% -21.62%
% of Gross Profit 162.02% 178.43%
Research & Development $4.866M $6.182M
YoY Change 24.9% 44.51%
% of Gross Profit 30.08% 42.36%
Depreciation & Amortization $351.0K $309.0K
YoY Change -31.84% -38.57%
% of Gross Profit 2.17% 2.12%
Operating Expenses $31.07M $34.45M
YoY Change -30.25% -12.57%
Operating Profit -$14.90M $19.85M
YoY Change -47.87% -21.31%
Interest Expense $2.851M $1.885M
YoY Change -62.13% -92.95%
% of Operating Profit 9.5%
Other Income/Expense, Net
YoY Change
Pretax Income -$18.18M $17.97M
YoY Change -13.63% -1285.09%
Income Tax $127.0K $17.00K
% Of Pretax Income 0.09%
Net Earnings -$18.31M -$17.98M
YoY Change -13.11% -1294.88%
Net Earnings / Revenue -60.54% -61.31%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$0.11 -$0.11
COMMON SHARES
Basic Shares Outstanding 159.1M 158.3M
Diluted Shares Outstanding 158.3M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $138.5M $152.6M
YoY Change -30.12% -31.51%
Cash & Equivalents $138.5M $152.6M
Short-Term Investments
Other Short-Term Assets $4.372M $4.606M
YoY Change -54.28% -54.05%
Inventory
Prepaid Expenses
Receivables $9.640M $8.692M
Other Receivables $0.00 $0.00
Total Short-Term Assets $152.6M $165.9M
YoY Change -28.49% -30.34%
LONG-TERM ASSETS
Property, Plant & Equipment $677.0K $845.0K
YoY Change 8.49% 28.42%
Goodwill $0.00 $6.134M
YoY Change -100.0% 0.0%
Intangibles $2.529M $2.714M
YoY Change -26.4% -29.98%
Long-Term Investments
YoY Change
Other Assets $491.0K $0.00
YoY Change 498.78% -100.0%
Total Long-Term Assets $3.697M $9.693M
YoY Change -64.02% -9.83%
TOTAL ASSETS
Total Short-Term Assets $152.6M $165.9M
Total Long-Term Assets $3.697M $9.693M
Total Assets $156.3M $175.6M
YoY Change -30.12% -29.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.461M $10.36M
YoY Change -13.03% -26.21%
Accrued Expenses $16.50M $10.22M
YoY Change 31.36% 33.91%
Deferred Revenue $4.355M $5.458M
YoY Change -39.4% -34.26%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $27.32M $29.02M
YoY Change 0.52% -3.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $461.0K $288.0K
YoY Change 436.05% 234.88%
Total Long-Term Liabilities $461.0K $288.0K
YoY Change 436.05% 234.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.32M $29.02M
Total Long-Term Liabilities $461.0K $288.0K
Total Liabilities $28.72M $32.96M
YoY Change -8.35% -21.66%
SHAREHOLDERS EQUITY
Retained Earnings -$251.2M -$232.9M
YoY Change 46.45% 54.79%
Common Stock $16.00K $15.00K
YoY Change 6.67% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $127.5M $142.7M
YoY Change
Total Liabilities & Shareholders Equity $156.3M $175.6M
YoY Change -30.12% -29.45%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$18.31M -$17.98M
YoY Change -13.11% -1294.88%
Depreciation, Depletion And Amortization $351.0K $309.0K
YoY Change -31.84% -38.57%
Cash From Operating Activities -$14.22M -$13.75M
YoY Change -42.2% -41.06%
INVESTING ACTIVITIES
Capital Expenditures $96.00K -$94.00K
YoY Change -334.15% -45.66%
Acquisitions
YoY Change
Other Investing Activities $33.00K
YoY Change
Cash From Investing Activities -$63.00K -$94.00K
YoY Change 53.66% -45.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 190.0K -144.0K
YoY Change 458.82% -92.06%
NET CHANGE
Cash From Operating Activities -14.22M -13.75M
Cash From Investing Activities -63.00K -94.00K
Cash From Financing Activities 190.0K -144.0K
Net Change In Cash -14.09M -13.98M
YoY Change -42.73% -44.75%
FREE CASH FLOW
Cash From Operating Activities -$14.22M -$13.75M
Capital Expenditures $96.00K -$94.00K
Free Cash Flow -$14.32M -$13.65M
YoY Change -41.71% -41.03%

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talk Warrant Issuance Cost And Change In Fair Value
WarrantIssuanceCostAndChangeInFairValue
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3180000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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IncreaseDecreaseInOtherCurrentAssets
-4848000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2931000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7113000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
1728000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-3130000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1465000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-134000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
202000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-46856000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
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254000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1493000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
251348000
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q3 us-gaap Allocated Share Based Compensation Expense
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3179000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
152639000
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q3 us-gaap Net Income Loss
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CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
46000
us-gaap Interest Paid Net
InterestPaidNet
115000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
122000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
111282000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of consolidated financial statements, in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company evaluates its assumptions on an ongoing basis. The Company’s management believes that the estimates, judgment, and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></p>
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9386000
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
158330684
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29332000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26359000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
89326000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
84499000
talk Increase In Revenue Reserve
IncreaseInRevenueReserve
1900000
talk Increase In Revenue Reserve
IncreaseInRevenueReserve
3600000
CY2022Q3 talk Increase In Revenue Reserve
IncreaseInRevenueReserve
900000
CY2021Q3 talk Increase In Revenue Reserve
IncreaseInRevenueReserve
3400000
talk Aged Receivables Wrote Off
AgedReceivablesWroteOff
3500000
talk Aged Receivables Wrote Off
AgedReceivablesWroteOff
0
CY2022Q3 talk Revenue Reserves
RevenueReserves
3300000
CY2022Q3 talk Aged Balances
AgedBalances
300000
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
48000
us-gaap Operating Lease Expense
OperatingLeaseExpense
158000
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
158991019
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
158991019
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
152862447
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
152862447
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20584000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152267870
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
156056900
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64638182
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
158330684
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
165179012
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
156056900
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2591000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64638182
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
CY2022Q3 talk Accrued Employee Compensation
AccruedEmployeeCompensation
6528000
CY2021Q4 talk Accrued Employee Compensation
AccruedEmployeeCompensation
5988000
CY2022Q3 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
2804000
CY2021Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
2680000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
891000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1303000
CY2022Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2983000
CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
13206000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
12562000

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