Talkspace (TALK) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Aug. 06, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	TALKSPACE, INC.
Entity Central Index Key	0001803901
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		168,212,240
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Securities Act File Number	001-39314
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-4636604
Entity Address, Address Line One	622 Third Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	212
Local Phone Number	284-7206
Document Quarterly Report	true
Document Transition Report	false
Common stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	TALK
Security Exchange Name	NASDAQ
Warrant
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	TALKW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 114,913	$ 123,908
Accounts receivable, net	11,554	10,174
Other current assets	2,302	5,718
Total current assets	128,769	139,800
Other long-term assets	5,021	2,421
Total assets	133,790	142,221
CURRENT LIABILITIES:
Accounts payable	7,733	6,111
Deferred revenues	2,733	3,069
Accrued expenses and other current liabilities	7,313	12,468
Total current liabilities	17,779	21,648
Warrant liabilities	1,332	1,842
Other long-term liabilities	635	85
Total liabilities	19,746	23,575
Commitments and contingencies (Note 5)
STOCKHOLDERS' EQUITY:
Common stock of $0.0001 par value per share: Shares authorized: 1,000,000,000 as of June 30, 2024 (unaudited) and December 31, 2023; shares issued and outstanding: 168,169,158 and 168,428,856 as of June 30, 2024 (unaudited) and December 31, 2023, respectively	16	16
Additional paid-in capital	386,352	389,014
Accumulated deficit	(272,324)	(270,384)
Total stockholders' equity	114,044	118,646
Total liabilities and stockholders' equity	$ 133,790	$ 142,221

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	168,169,158	168,428,856
Common stock, shares outstanding	168,169,158	168,428,856

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues	$ 46,058	$ 35,645	$ 91,474	$ 68,981
Cost of revenues	25,107	17,833	48,792	34,421
Gross profit	20,951	17,812	42,682	34,560
Operating expenses:
Research and development	2,163	4,171	5,902	9,524
Clinical operations, net	1,661	1,675	3,125	3,276
Sales and marketing	13,269	13,045	26,278	26,514
General and administrative	7,344	5,329	12,542	10,693
Total operating expenses	24,437	24,220	47,847	50,007
Operating loss	(3,486)	(6,408)	(5,165)	(15,447)
Financial (income), net	(3,044)	(1,712)	(3,422)	(2,136)
Loss before taxes on income	(442)	(4,696)	(1,743)	(13,311)
Taxes on income	32	8	197	151
Net loss	$ (474)	$ (4,704)	$ (1,940)	$ (13,462)
Net loss per share:
Earnings Per Share, Basic	$ 0	$ (0.03)	$ (0.01)	$ (0.08)
Earnings Per Share, Diluted	$ 0	$ (0.03)	$ (0.01)	$ (0.08)
Weighted average number of common shares used in computing basic and diluted net loss per share:
Basic	169,148,522	164,195,697	168,997,734	163,003,363
Diluted	169,148,522	164,195,697	168,997,734	163,003,363

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Operations (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net loss per share:
Earnings Per Share, Basic	$ 0	$ (0.03)	$ (0.01)	$ (0.08)
Earnings Per Share, Diluted	$ 0	$ (0.03)	$ (0.01)	$ (0.08)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance, value at Dec. 31, 2022	$ 127,536	$ 16	$ 378,722	$ (251,202)
Beginning balance, shares at Dec. 31, 2022		161,155,030
Exercise of stock options	621		621
Exercise of stock options, share		1,739,265
Restricted stock units vested, net of tax	(65)		(65)
Restricted stock units vested, net of tax, shares		225,050
Stock-based compensation	2,303		2,303
Net Income (Loss)	(8,758)			(8,758)
Ending balance, value at Mar. 31, 2023	121,637	$ 16	381,581	(259,960)
Ending balance, shares at Mar. 31, 2023		163,119,345
Beginning balance, value at Dec. 31, 2022	127,536	$ 16	378,722	(251,202)
Beginning balance, shares at Dec. 31, 2022		161,155,030
Net Income (Loss)	(13,462)
Ending balance, value at Jun. 30, 2023	119,795	$ 16	384,443	(264,664)
Ending balance, shares at Jun. 30, 2023		166,204,295
Beginning balance, value at Mar. 31, 2023	121,637	$ 16	381,581	(259,960)
Beginning balance, shares at Mar. 31, 2023		163,119,345
Exercise of stock options	869		869
Exercise of stock options, share		1,837,734
Restricted stock units vested, net of tax	(136)		(136)
Restricted stock units vested, net of tax, shares		1,247,216
Stock-based compensation	2,129		2,129
Net Income (Loss)	(4,704)			(4,704)
Ending balance, value at Jun. 30, 2023	119,795	$ 16	384,443	(264,664)
Ending balance, shares at Jun. 30, 2023		166,204,295
Beginning balance, value at Dec. 31, 2023	$ 118,646	$ 16	389,014	(270,384)
Beginning balance, shares at Dec. 31, 2023	168,428,856	168,428,856
Exercise of stock options	$ 741		741
Exercise of stock options, share		605,565
Restricted stock units vested, net of tax	(595)		(595)
Restricted stock units vested, net of tax, shares		534,654
Stock-based compensation	2,252		2,252
Net Income (Loss)	(1,466)			(1,466)
Ending balance, value at Mar. 31, 2024	119,578	$ 16	391,412	(271,850)
Ending balance, shares at Mar. 31, 2024		169,569,075
Beginning balance, value at Dec. 31, 2023	$ 118,646	$ 16	389,014	(270,384)
Beginning balance, shares at Dec. 31, 2023	168,428,856	168,428,856
Net Income (Loss)	$ (1,940)
Ending balance, value at Jun. 30, 2024	$ 114,044	$ 16	386,352	(272,324)
Ending balance, shares at Jun. 30, 2024	168,169,158	168,169,158
Beginning balance, value at Mar. 31, 2024	$ 119,578	$ 16	391,412	(271,850)
Beginning balance, shares at Mar. 31, 2024		169,569,075
Exercise of stock options	843		843
Exercise of stock options, share		697,798
Restricted stock units vested, net of tax	(1,248)		(1,248)
Restricted stock units vested, net of tax, shares		851,177
Repurchase and cancellation of common stock	(8,004)		(8,004)
Repurchase and cancellation of common stock, shares		(2,948,892)
Stock-based compensation	3,349		3,349
Net Income (Loss)	(474)			(474)
Ending balance, value at Jun. 30, 2024	$ 114,044	$ 16	$ 386,352	$ (272,324)
Ending balance, shares at Jun. 30, 2024	168,169,158	168,169,158

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net Income (Loss)	$ (1,940)	$ (13,462)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	421	608
Stock-based compensation	5,359	4,432
Remeasurement of warrant liabilities	(510)	(119)
(Increase) decrease in accounts receivable	(1,380)	1,220
Decrease in other current assets	3,416	1,452
Increase (decrease) in accounts payable	1,622	(977)
Decrease in deferred revenues	(336)	(672)
Decrease in accrued expenses and other current liabilities	(5,155)	(6,058)
Other	(79)	(172)
Net cash provided by (used in) operating activities	1,418	(13,748)
Cash flows from investing activities:
Capitalized internal-use software costs	(2,110)	0
Purchase of computer and equipment	(40)	(10)
Other	0	28
Net cash (used in) provided by investing activities	(2,150)	18
Cash flows from financing activities:
Proceeds from exercise of stock options	1,584	1,490
Payments for employee taxes withheld related to vested stock-based awards	(1,843)	(201)
Repurchase and cancellation of common stock	(8,004)	0
Net cash (used in) provided by financing activities	(8,263)	1,289
Net decrease in cash and cash equivalents	(8,995)	(12,441)
Cash and cash equivalents at the beginning of the period	123,908	138,545
Cash and cash equivalents at the end of the period	114,913	126,104
Supplemental cash flow data:
Cash paid during the period for income taxes	33	176
Other Noncash Investing and Financing Items [Abstract]
Lease liabilities arising from obtaining right-of-use assets	595	0
Non-cash compensation capitalized as part of capitalization of internal-use software costs	$ 242	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (474)	$ (1,466)	$ (4,704)	$ (8,758)	$ (1,940)	$ (13,462)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Description of Organization and

Description of Organization and Business Operations	6 Months Ended
	Jun. 30, 2024
Description Of Organisation And Business Operation [Abstract]
Description of organization and business operations	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Talkspace, Inc. (together with its consolidated subsidiaries, the “Company” or “Talkspace”) is a leading behavioral healthcare company enabled by a purpose-built technology platform. Talkspace provides individuals and licensed therapists, psychologists and psychiatrists with an online platform for one-on-one therapy delivered via messaging, audio and video. The Company offers convenient and affordable access to a fully credentialed network of highly qualified providers. Since its inception, the Company has connected millions of patients with licensed behavioral health providers across a wide and growing spectrum of care through virtual counseling, psychotherapy, and psychiatry. The Company's principal executive office is located in New York, NY. The Company's subsidiaries are (1) Talkspace LLC and its wholly-owned subsidiary, Talkspace Network LLC, and (2) Groop Internet Platform LTD. In addition, the Company holds a variable interest in one professional association and seven professional corporations, which have been established pursuant to the requirements of their respective domestic jurisdiction governing the corporate practice of medicine. These entities are considered Variable Interest Entities (“VIEs”). See Note 11, “Variable Interest Entities,” in the notes to the condensed consolidated financial statements for further details.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2. SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). In management’s opinion, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. The Company’s interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 31, 2023, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2023, have been applied consistently in these unaudited condensed consolidated financial statements, unless otherwise stated. The Company consolidates all subsidiaries in which it has a controlling financial interest, as well as any VIEs where the Company is deemed to be the primary beneficiary. Intercompany transactions and balances have been eliminated in the preparation of the condensed consolidated financial statements. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, together with amounts disclosed in the related notes to the condensed consolidated financial statements. The Company’s significant estimates and assumptions used in these condensed consolidated financial statements include, but are not limited to, the recognition and disclosure of revenue recognition, stock-based compensation awards and the fair value of warrant liabilities. The Company bases its estimates on historical factors, current circumstances and the experience and judgment of management. The Company evaluates its assumptions on an ongoing basis. The Company’s management believes that the estimates, judgments, and assumptions used are reasonable based on information available at the time they are made. Estimates, by their nature, are based on judgment and available information, therefore, actual results could be materially different from these estimates. Stock buy-back The Company repurchases its common stock from time to time pursuant to a board-authorized share repurchase program through repurchase plans. Stock repurchases are accounted under ASC 505-30, Treasury Stock. The Company's policy is to retire all stock repurchased immediately after the transaction is completed. The Company records the amounts repurchased in accordance with ASC 505-30-30-8. Recently Issued and Recently Adopted Accounting Pronouncements The following Accounting Standards Update (“ASU”) issued by the Financial Accounting Standards Board ("FASB") has not yet been adopted by the Company: In November 2023, the FASB issued ASU 2023- 07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. This ASU applies to all public entities, including those with a single reportable segment. The revised guidance will require disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), the title and position of the CODM and how the CODM uses the reported measures of segment profit or loss in assessing segment performance, among other requirements. This ASU is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this ASU. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this ASU.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	NOTE 3. REVENUE RECOGNITION The Company recognizes revenue in accordance with ASC 606, “Revenue from Contracts with Customers”, when the Company satisfies its performance obligation to perform its defined contractual obligations to provide virtual behavioral healthcare services. Revenue is recognized in an amount that reflects the consideration that the Company will be entitled in exchange for the service rendered. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that is included in the transaction price. Variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Through its platform, Talkspace serves: • Health insurance plans and employee assistance programs (“Payor”) who offer their insured members access to the Company's platform at in-network reimbursement rates, • Direct-to-Enterprise customers (“DTE”) who offer their enterprise members access to the Company's platform while their enterprise is under an active contract with Talkspace, and • Individual subscribers (“Consumer”) who subscribe directly to the Company's platform. Payor The Company contracts with health insurance plans and employee assistance programs to provide therapy and psychiatry services to their eligible covered members. Revenue is recognized at a point in time, as virtual therapy or psychiatry sessions are rendered. The transaction price is determined based on contracted rates and includes variable consideration in the form of implicit price concessions. The Company determines the total transaction price, including an estimate of variable consideration, at contract inception and reassesses this estimate at each reporting date. The Company estimates the amount of variable consideration that is included in the transaction price primarily based on actual historical collection experience for each Payor. Revenue is presented net of implicit price concessions. Payor contracts include annual evergreen clauses and generally may be terminated by either party typically upon a minimum 60-day advance notice. DTE The Company contracts with enterprises to provide access to the Company's therapist platform for their enterprise members, primarily based on a per-member-per-month access fee model. To the extent the transaction price includes variable consideration, revenue is recognized using the variable consideration allocation exception, or, if the allocation exception is not met, the Company recognizes revenue ratably based on estimates of the variable consideration to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequent resolved. The majority of DTE contracts typically range in length from one to three years and are generally non-cancelable during the initial contractual term. Consumer The Company also generates revenues from the sale of monthly, quarterly, bi-annual and annual membership subscriptions to the Company's therapy platform as well as supplementary a la carte offerings directly to individual consumers through a subscription plan. The Company recognizes consumer revenues ratably over the subscription period, beginning when therapy services commence. The Company recognizes revenues from supplementary a la carte offerings at a point in time, as virtual therapy sessions are rendered. Members may cancel their subscription at any time and will receive a pro-rata refund for the subscription price. The transaction price from member subscription revenue and supplementary a la carte offerings includes variable consideration in the form of refunds. Revenue is presented net of refunds. The Company estimates the refund liability for the variable consideration portion of the transaction price primarily based on historical experience. The refund liability is recorded within the “Accrued expenses and other current liabilities” line item in the consolidated balance sheets. The refund liability was immaterial as of June 30, 2024 and December 31, 2023. The following table presents the Company’s revenues from sales to unaffiliated customers disaggregated by revenue source: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Revenues from sales to unaffiliated customers: Unaudited Unaudited Unaudited Unaudited Payor $ 29,945 $ 18,539 $ 58,453 $ 33,350 DTE 9,628 8,039 19,541 16,715 Consumer 6,485 9,067 13,480 18,916 Total revenue $ 46,058 $ 35,645 $ 91,474 $ 68,981 Accounts Receivable and Allowance for Credit Losses The Co mpany had receivables related to revenue from DTE customers of $ 8.7 million and $ 7.8 million at June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024 and December 31, 2023 , the balance of receivables related to revenue from Payor customers was $ 2.8 million and $ 2.4 million, respectively. Accounts receivables are stated net of credit losses allowance. The Company’s methodology for estimating credit loss is based on historical collection experience, customer creditworthiness, current and future economic condition and market condition. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. Accounts receivables are written off after all reasonable means to collect the full amount have been exhausted. Credit losses were immaterial for the three months ended June 30, 2024 and 2023. Deferred Revenue The Company records deferred revenues when cash payments from customers are received in advance of the Company's performance obligation to provide services. As of June 30, 2024 and December 31, 2023, deferred revenue related mainly to consumer subscriptions. The Company expects to satisfy the majority of its performance obligations associated with deferred revenue within one year or less. Revenue recognized in the three months ended June 30, 2024 and 2023 , that was included in the deferred revenue balance at the beginning of each reporting period was immaterial.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 4. FAIR VALUE MEASUREMENTS The carrying value of the Company’s cash equivalents, accounts receivable, other current assets, accounts payable, and accrued liabilities approximate fair value because of the relatively short-term nature of the underlying assets or liabilities. Money market funds are classified within Level 1 of the fair value hierarchy because these assets are valued based on quoted market prices in active markets. The Company's Private Placement Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities in the accompanying consolidated balance sheets. The warrant liabilities were measured at fair value at inception and thereafter on a recurring, quarterly basis, with changes in fair value presented within the statement of operations (financial income, net) line item. The Private Placement Warrants were valued using the Black-Scholes-Merton Model, which is considered to be a Level 3 fair value measurement. The primary unobservable input utilized in determining the fair value of the Private Placement Warrants is the implied volatility from trading prices of the Company's Public Warrants, significant increases (decreases) in this input in isolation would have resulted in a significantly higher (lower) fair value measurement. The following were the inputs utilized in determining the fair value of the Private Placement Warrants as of June 30, 2024 and 2023: June 30, Unaudited 2024 2023 Dividend yield (1) 0 % 0 % Expected volatility (2) 68.1 % 69.5 % Risk-free interest rate (3) 4.72 % 4.45 % Term to warrant expiration (years) 1.98 2.98 (1) No dividends were paid during the three and six months ended June 30, 2024 and 2023 . (2) The expected volatility is based on the back-solved implied volatility of the Company's public warrants as of the valuation date. (3) The risk-free interest rate is based on the yield from U.S. Treasury bonds with an equivalent term to the time to maturity of the warrants. Assets and Liabilities Measured at Fair Value The Company's assets and liabilities recorded at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, have been categorized based upon the fair value hierarchy as follows: Fair Value Measurements as of June 30, 2024 Unaudited (in thousands) Level 1 Level 2 Level 3 Total Assets Cash $ 1,139 $ — $ — $ 1,139 Cash equivalents Money market funds 113,774 — — 113,774 Total cash and cash equivalents $ 114,913 $ — $ — $ 114,913 Liabilities Private Placement Warrants — — 1,332 1,332 Total Warrant Liabilities $ — $ — $ 1,332 $ 1,332 Fair Value Measurements as of December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash $ 1,078 $ — $ — $ 1,078 Cash equivalents Money market funds 122,830 — — 122,830 Total cash and cash equivalents $ 123,908 $ — $ — $ 123,908 Liabilities Private Placement Warrants — — 1,842 1,842 Total Warrant Liabilities $ — $ — $ 1,842 $ 1,842 The following table presents changes in Level 3 liabilities measured at fair value on a recurring basis during the three and six months ended June 30, 2024 and 2023: Level 3 Liabilities Unaudited For the Three Months Ended June 30, 2024 (in thousands) Beginning Balance Change in Fair Value Ending Balance Private Placement Warrants $ 2,988 $ ( 1,656 ) $ 1,332 For the Six Months Ended June 30, 2024 (in thousands) Beginning Balance Change in Fair Value Ending Balance Private Placement Warrants $ 1,842 $ ( 510 ) $ 1,332 Level 3 Liabilities Unaudited For the Three Months Ended June 30, 2023 (in thousands) Beginning Balance Change in Fair Value Ending Balance Private Placement Warrants $ 1,128 $ ( 308 ) $ 820 For the Six Months Ended June 30, 2023 (in thousands) Beginning Balance Change in Fair Value Ending Balance Private Placement Warrants $ 939 $ ( 119 ) $ 820

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	NOTE 5. PROPERTY AND EQUIPMENT, NET Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Property and equipment, net, as of June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 (in thousands) (Unaudited) Capitalized internal-use software costs $ 2,783 $ 431 Computer and equipment 754 736 Other 35 35 Property and equipment, gross 3,572 1,202 Less: accumulated depreciation ( 1,028 ) ( 888 ) Property and equipment, net $ 2,544 $ 314

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	NOTE 6. COMMITMENTS AND CONTINGENT LIABILITIES Litigation The Company may in the future be involved in various legal proceedings, claims and litigation that arise in the normal course of business. The Company accrues for estimated loss contingencies related to legal matters when available information indicates that it is probable a liability has been incurred and the Company can reasonably estimate the amount of that loss. In many proceedings, however, it is inherently difficult to determine whether any loss is probable or even possible or to estimate the amount of any loss. In addition, even where a loss is possible or an exposure to loss exists in excess of the liability already accrued with respect to a previously recognized loss contingency, it is often not possible to reasonably estimate the size of the possible loss or range of loss or possible additional losses or range of additional losses. As of June 30, 2024 , there were no pending material legal proceedings, claims or litigation. Warranties and Indemnification The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if there is a breach of a customer’s data or if the Company’s service infringes a third party’s intellectual property rights. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company has also agreed to indemnify its directors and executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as a director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer liability insurance coverage that would generally enable it to recover a portion of any future amounts paid. The Company may also be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions.

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Capital Stock	NOTE 7. CAPITAL STOCK The Company’s authorized capital stock consists of (a) 1,000,000,000 shares of common stock, par value $ 0.0001 per share; and (b) 100,000,000 shares of preferred stock, par value $ 0.0001 per share. As of June 30, 2024 and December 31, 2023 there were outstanding 12,780,000 Private Placement Warrants and 21,350,000 Public Warrants to purchase the Company’s common stock at an exercise price of $ 11.50 per share. As of June 30, 2024 and December 31, 2023 , no shares of preferred stock were issued or outstanding. Share Repurchase Program On February 22, 2024, the Company announced that its Board of Directors approved a share repurchase program which authorizes the repurchase of up to $ 15.0 million of the currently outstanding shares of the Company’s common stock over a period of twenty-four months beginning on March 1, 2024 (the “Initial Repurchase Program”). During the three and six months ended June 30, 2024, the Company repurchased and canceled an aggregate of 2,948,892 shares of its common stock for a total consideration of $ 8.0 million ($ 2.71 per share). As of June 30, 2024, $ 7.0 million remained available under the Initial Repurchase Program. The Company may repurchase shares periodically through various methods in accordance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934 (the “Exchange Act”). Such purchases will be at times and in amounts as the Company deems appropriate, based on factors such as price, market conditions, corporate and regulatory requirements, constrains specified in any Rule 10b5-1 trading plans, alternative investment opportunities and other business considerations. All shares repurchased will be canceled. The program does not obligate the Company to repurchase any dollar amount or number of shares, and may be modified, suspended, or discontinued at any time at the Company’s discretion without prior notice.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	NOTE 8. SHARE-BASED COMPENSATION In June 2021, the Company adopted the 2021 Incentive Award Plan (the “2021 Plan”) under which the Company may grant cash and equity incentive awards to officers, employees, directors, consultants and service providers in order to attract, motivate and retain talent. The 2021 Plan replaced the Company's previous stock compensation plan. All stock-based awards are measured based on the grant date fair value and are generally recognized on a straight-line basis in the Company’s condensed consolidated statement of operations over the requisite service period (generally requiring a four-year vesting period). The following table sets forth the total share-based compensation expense related to stock options and restricted stock units included in the respective components of operating expenses in the condensed consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands) Unaudited Unaudited Unaudited Unaudited Research and development $ 362 $ 546 $ 997 $ 1,220 Clinical operations, net 80 126 131 246 Sales and marketing 630 445 1,079 836 General and administrative 2,035 1,012 3,152 2,130 Total stock-based compensation expense $ 3,107 $ 2,129 $ 5,359 $ 4,432 During the three months ended June 30, 2024, the Company modified certain equity awards in connection with certain key executives' separation from the Company and recognized $ 1.2 million of additional stock-based compensation expense as a result of these modifications.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	NOTE 9. NET LOSS PER SHARE The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands, except share and per share data) Unaudited Unaudited Unaudited Unaudited Net loss $ ( 474 ) $ ( 4,704 ) $ ( 1,940 ) $ ( 13,462 ) Weighted-average shares used to compute net loss per share: Basic and Diluted 169,148,522 164,195,697 168,997,734 163,003,363 Net loss per share: Basic and Diluted $ ( 0.00 ) $ ( 0.03 ) $ ( 0.01 ) $ ( 0.08 ) For the three and six months ended June 30, 2024 , the shares underlying the following were excluded from the calculation of diluted net loss per share since each would have had an anti-dilutive effect given the Company's net loss: 9,137,986 vested and non-vested stock options outstanding, 8,397,227 non-vested and outstanding restricted stock units, 12,780,000 Private Placement Warrants and 21,350,000 Public Warrants to purchase the Company’s common stock. For the three and six months ended June 30, 2023 , the shares underlying the following were excluded from the calculation of diluted income per share since each would have had an anti-dilutive effect given the Company's net loss: 12,365,441 vested and non-vested stock options outstanding, 10,179,411 non-vested and outstanding r estricted stock units, 12,780,000 Private Placement Warrants and 21,350,000 Public Warrants to purchase the Company’s common stock.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2024
Accrued Expenses and Other Current Liabilities Abstract
Accrued Expenses and Other Current Liabilities	NOTE 10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES The following table presents the amounts included within accrued expenses and other current liabilities as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (in thousands) Unaudited Employee compensation $ 3,358 $ 7,269 Severance 978 — Professional fees 680 626 User acquisition 648 1,525 Other 1,649 3,048 Accrued expenses and other current liabilities $ 7,313 $ 12,468

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES ("VIEs")	NOTE 11. VARIABLE INTEREST ENTITIES ("VIEs" ) The Company holds a variable interest in Talkspace Provider Network, PA (“TPN”) and seven affiliated professional corporations (“PC entities”). The Company evaluates whether an entity in which it has a variable interest is considered a VIE. VIEs are generally entities that have either a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support, or whose equity investors lack the characteristics of a controlling financial interest (i.e., ability to direct the activities of the entity that most significantly impact the entity's economic performance through voting rights and a right to receive the expected residual returns of the entity or an obligation to absorb the expected losses of the entity). TPN and the PC entities are considered VIEs. Under the provisions of ASC 810, “Consolidation”, an entity consolidates a VIE if it is determined to be the primary beneficiary of the VIE. The primary beneficiary has both (a) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company has determined that it is able to direct the activities of TPN and the PC entities that most significantly impact their economic performance and it funds and absorbs all losses of these VIEs resulting in the Company being the primary beneficiary of these entities. Accordingly, the Company consolidates these VIEs. The following table details the assets and liabilities of the VIEs as of June 30, 2024 and December 31, 2023. The assets and liabilities in the table below are presented prior to consolidation and thus a portion of these assets and liabilities are eliminated in consolidation. June 30, 2024 December 31, 2023 (in thousands) Unaudited ASSETS Cash and cash equivalents $ 83 $ 167 Accounts receivable 7,812 4,031 Other assets 12,741 11,493 Total Assets $ 20,636 $ 15,691 LIABILITIES Accrued expenses and other current liabilities 1,546 2,831 Total Liabilities $ 1,546 $ 2,831

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	NOTE 12. SUBSEQUENT EVENT Share Repurchase Program On August 1, 2024 the Company’s Board of Directors approved an additional share repurchase program authorizing the Company to repurchase up to an additional $ 25.0 million of its common stock and warrants. Such repurchases may be completed periodically through various methods in compliance with applicable state and federal securities laws and will be at times and in amounts the Company deems appropriate, based on factors such as price, market conditions, corporate and regulatory requirements, constrains specified in any Rule 10b5-1 trading plans, alternative investment opportunities and other business considerations. All shares repurchased will be canceled. The program does not obligate the Company to repurchase any dollar amount or number of shares, and may be suspended or terminated at any time. This new repurchase program will expire on August 1, 2026 . After giving effect to this new program and remaining authority under the Initial Repurchase Program, the Company currently has authority to repurchase up to an aggregate of $ 32.0 million of its common stock and warrants.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). In management’s opinion, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. The Company’s interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 31, 2023, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2023, have been applied consistently in these unaudited condensed consolidated financial statements, unless otherwise stated. The Company consolidates all subsidiaries in which it has a controlling financial interest, as well as any VIEs where the Company is deemed to be the primary beneficiary. Intercompany transactions and balances have been eliminated in the preparation of the condensed consolidated financial statements.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, together with amounts disclosed in the related notes to the condensed consolidated financial statements. The Company’s significant estimates and assumptions used in these condensed consolidated financial statements include, but are not limited to, the recognition and disclosure of revenue recognition, stock-based compensation awards and the fair value of warrant liabilities. The Company bases its estimates on historical factors, current circumstances and the experience and judgment of management. The Company evaluates its assumptions on an ongoing basis. The Company’s management believes that the estimates, judgments, and assumptions used are reasonable based on information available at the time they are made. Estimates, by their nature, are based on judgment and available information, therefore, actual results could be materially different from these estimates.
Stock buy back	Stock buy-back The Company repurchases its common stock from time to time pursuant to a board-authorized share repurchase program through repurchase plans. Stock repurchases are accounted under ASC 505-30, Treasury Stock. The Company's policy is to retire all stock repurchased immediately after the transaction is completed. The Company records the amounts repurchased in accordance with ASC 505-30-30-8.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Recently Adopted Accounting Pronouncements The following Accounting Standards Update (“ASU”) issued by the Financial Accounting Standards Board ("FASB") has not yet been adopted by the Company: In November 2023, the FASB issued ASU 2023- 07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. This ASU applies to all public entities, including those with a single reportable segment. The revised guidance will require disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), the title and position of the CODM and how the CODM uses the reported measures of segment profit or loss in assessing segment performance, among other requirements. This ASU is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this ASU. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this ASU.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Revenue Source	The following table presents the Company’s revenues from sales to unaffiliated customers disaggregated by revenue source: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Revenues from sales to unaffiliated customers: Unaudited Unaudited Unaudited Unaudited Payor $ 29,945 $ 18,539 $ 58,453 $ 33,350 DTE 9,628 8,039 19,541 16,715 Consumer 6,485 9,067 13,480 18,916 Total revenue $ 46,058 $ 35,645 $ 91,474 $ 68,981

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of determining the fair value assumptions of the private placement warrants	The following were the inputs utilized in determining the fair value of the Private Placement Warrants as of June 30, 2024 and 2023: June 30, Unaudited 2024 2023 Dividend yield (1) 0 % 0 % Expected volatility (2) 68.1 % 69.5 % Risk-free interest rate (3) 4.72 % 4.45 % Term to warrant expiration (years) 1.98 2.98 (1) No dividends were paid during the three and six months ended June 30, 2024 and 2023 . (2) The expected volatility is based on the back-solved implied volatility of the Company's public warrants as of the valuation date. (3) The risk-free interest rate is based on the yield from U.S. Treasury bonds with an equivalent term to the time to maturity of the warrants.
Summary of Fair Value Measurements	Assets and Liabilities Measured at Fair Value The Company's assets and liabilities recorded at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, have been categorized based upon the fair value hierarchy as follows: Fair Value Measurements as of June 30, 2024 Unaudited (in thousands) Level 1 Level 2 Level 3 Total Assets Cash $ 1,139 $ — $ — $ 1,139 Cash equivalents Money market funds 113,774 — — 113,774 Total cash and cash equivalents $ 114,913 $ — $ — $ 114,913 Liabilities Private Placement Warrants — — 1,332 1,332 Total Warrant Liabilities $ — $ — $ 1,332 $ 1,332 Fair Value Measurements as of December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash $ 1,078 $ — $ — $ 1,078 Cash equivalents Money market funds 122,830 — — 122,830 Total cash and cash equivalents $ 123,908 $ — $ — $ 123,908 Liabilities Private Placement Warrants — — 1,842 1,842 Total Warrant Liabilities $ — $ — $ 1,842 $ 1,842
Summary of warrants	The following table presents changes in Level 3 liabilities measured at fair value on a recurring basis during the three and six months ended June 30, 2024 and 2023: Level 3 Liabilities Unaudited For the Three Months Ended June 30, 2024 (in thousands) Beginning Balance Change in Fair Value Ending Balance Private Placement Warrants $ 2,988 $ ( 1,656 ) $ 1,332 For the Six Months Ended June 30, 2024 (in thousands) Beginning Balance Change in Fair Value Ending Balance Private Placement Warrants $ 1,842 $ ( 510 ) $ 1,332 Level 3 Liabilities Unaudited For the Three Months Ended June 30, 2023 (in thousands) Beginning Balance Change in Fair Value Ending Balance Private Placement Warrants $ 1,128 $ ( 308 ) $ 820 For the Six Months Ended June 30, 2023 (in thousands) Beginning Balance Change in Fair Value Ending Balance Private Placement Warrants $ 939 $ ( 119 ) $ 820

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property Plant and Equipment	Property and equipment, net, as of June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 (in thousands) (Unaudited) Capitalized internal-use software costs $ 2,783 $ 431 Computer and equipment 754 736 Other 35 35 Property and equipment, gross 3,572 1,202 Less: accumulated depreciation ( 1,028 ) ( 888 ) Property and equipment, net $ 2,544 $ 314

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock-Based Compensation Expense	The following table sets forth the total share-based compensation expense related to stock options and restricted stock units included in the respective components of operating expenses in the condensed consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands) Unaudited Unaudited Unaudited Unaudited Research and development $ 362 $ 546 $ 997 $ 1,220 Clinical operations, net 80 126 131 246 Sales and marketing 630 445 1,079 836 General and administrative 2,035 1,012 3,152 2,130 Total stock-based compensation expense $ 3,107 $ 2,129 $ 5,359 $ 4,432

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands, except share and per share data) Unaudited Unaudited Unaudited Unaudited Net loss $ ( 474 ) $ ( 4,704 ) $ ( 1,940 ) $ ( 13,462 ) Weighted-average shares used to compute net loss per share: Basic and Diluted 169,148,522 164,195,697 168,997,734 163,003,363 Net loss per share: Basic and Diluted $ ( 0.00 ) $ ( 0.03 ) $ ( 0.01 ) $ ( 0.08 )

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Accrued Expenses and Other Current Liabilities Abstract
Schedule of accrued expenses and other current liabilities	accrued expenses and other current liabilities as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (in thousands) Unaudited Employee compensation $ 3,358 $ 7,269 Severance 978 — Professional fees 680 626 User acquisition 648 1,525 Other 1,649 3,048 Accrued expenses and other current liabilities $ 7,313 $ 12,468

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Assets and liabilities of the Company's consolidated VIE	The following table details the assets and liabilities of the VIEs as of June 30, 2024 and December 31, 2023. The assets and liabilities in the table below are presented prior to consolidation and thus a portion of these assets and liabilities are eliminated in consolidation. June 30, 2024 December 31, 2023 (in thousands) Unaudited ASSETS Cash and cash equivalents $ 83 $ 167 Accounts receivable 7,812 4,031 Other assets 12,741 11,493 Total Assets $ 20,636 $ 15,691 LIABILITIES Accrued expenses and other current liabilities 1,546 2,831 Total Liabilities $ 1,546 $ 2,831

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue by Revenue Source (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues fom sales to unaffiliated customers:
Total Revenue	$ 46,058	$ 35,645	$ 91,474	$ 68,981
Payor Revenue
Revenues fom sales to unaffiliated customers:
Total Revenue	29,945	18,539	58,453	33,350
DTE Revenue
Revenues fom sales to unaffiliated customers:
Total Revenue	9,628	8,039	19,541	16,715
Consumer Revenue
Revenues fom sales to unaffiliated customers:
Total Revenue	$ 6,485	$ 9,067	$ 13,480	$ 18,916

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Accounts receivable, net	$ 11,554	$ 10,174
DTE Revenue | Accounts Receivable [Member]
Disaggregation of Revenue [Line Items]
Accounts receivable, net	8,700	7,800
Payor Revenue
Disaggregation of Revenue [Line Items]
Accounts receivable, net	$ 2,800	$ 2,400

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - shares		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Public Warrant [Member]
Warrants outstanding		21,350,000		21,350,000
Private Placement Warrants
Expected volatility	[1]	68.10%	69.50%
Warrants outstanding		12,780,000		12,780,000
[1] The expected volatility is based on the back-solved implied volatility of the Company's public warrants as of the valuation date.

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of determining the fair value assumptions of the private placement warrants (Details) - Private Placement Warrant [Member]		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Dividend yield	[1]	0%	0%
Expected volatility	[2]	68.10%	69.50%
Risk-free interest rate	[3]	4.72%	4.45%
Term to warrant expiration (years)		1 year 11 months 23 days	2 years 11 months 23 days
[1] No dividends were paid during the three and six months ended June 30, 2024 and 2023 . The expected volatility is based on the back-solved implied volatility of the Company's public warrants as of the valuation date. The risk-free interest rate is based on the yield from U.S. Treasury bonds with an equivalent term to the time to maturity of the warrants.

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value Measurements (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Inputs, Level 3 [Member] | Private Placement Warrants
Liabilities:
Total Warrant Liabilities	$ 1,332	$ 2,988	$ 1,842	$ 820	$ 1,128	$ 939
Fair Value, Recurring [Member]
Assets:
Cash	1,139		1,078
Money market funds	113,774		122,830
Total cash and cash equivalents	114,913		123,908
Liabilities:
Total Warrant Liabilities	1,332		1,842
Fair Value, Recurring [Member] | Private Placement Warrants
Liabilities:
Total Warrant Liabilities	1,332		1,842
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Cash	1,139		1,078
Money market funds	113,774		122,830
Total cash and cash equivalents	114,913		123,908
Liabilities:
Total Warrant Liabilities	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Private Placement Warrants
Liabilities:
Total Warrant Liabilities	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Cash	0		0
Money market funds	0		0
Total cash and cash equivalents	0		0
Liabilities:
Total Warrant Liabilities	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Private Placement Warrants
Liabilities:
Total Warrant Liabilities	0		0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Cash	0		0
Money market funds	0		0
Total cash and cash equivalents	0		0
Liabilities:
Total Warrant Liabilities	1,332		1,842
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Private Placement Warrants
Liabilities:
Total Warrant Liabilities	$ 1,332		$ 1,842

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of warrants (Detail) - Private Placement Warrants - Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Class of Warrant or Right [Line Items]
Fair value as of beginning	$ 2,988	$ 1,128	$ 1,842	$ 939
Change in value	(1,656)	(308)	(510)	(119)
Fair value as of ending	$ 1,332	$ 820	$ 1,332	$ 820

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,572	$ 1,202
Less: accumulated depreciation	(1,028)	(888)
Property and equipment, net	2,544	314
Capitalized internal-use software costs
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,783	431
Computer and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	754	736
Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 35	$ 35

Commitments and Contingent Li_2

Commitments and Contingent Liabilities - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Legal proceedings, claims or litigation	$ 0

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Feb. 22, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.5	$ 11.5		$ 11.5
Common stock, shares authorized	1,000,000,000	1,000,000,000		1,000,000,000
Common stock, par value	$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred Stock Shares Issued	0	0		0
Preferred stock, shares outstanding	0	0		0
Share Repurchase Program
Class of Stock [Line Items]
Accelerated Share Repurchases, Adjustment to Recorded Amount		$ 7
Share Repurchase Program | Board of Directors
Class of Stock [Line Items]
Stock repurchase authorized amount			$ 15
Common Stock [Member] | Share Repurchase Program
Class of Stock [Line Items]
Repurchase and cancellation of common stock, shares	2,948,892	2,948,892
Business Combination, Consideration Transferred, Total		$ 8
Consideration Per Shares		$ 2.71
Private Placement Warrants
Class of Stock [Line Items]
Warrants and Rights Outstanding	12,780,000	12,780,000		12,780,000
Public Warrants
Class of Stock [Line Items]
Warrants and Rights Outstanding	21,350,000	21,350,000		21,350,000

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	$ 3,107	$ 2,129	$ 5,359	$ 4,432
Research and Development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	362	546	997	1,220
Clinical Operations, Net
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	80	126	131	246
Sales and Marketing
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	630	445	1,079	836
General and Administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	$ 2,035	$ 1,012	$ 3,152	$ 2,130

Share-Based Compensation (Addit

Share-Based Compensation (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense	$ 3,107	$ 2,129	$ 5,359	$ 4,432
Separation Agreements [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense	$ 1,200

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net Income (Loss)	$ (474)	$ (1,466)	$ (4,704)	$ (8,758)	$ (1,940)	$ (13,462)
Denominator:
Weighted average number of common shares used in computing basic net loss per share	169,148,522		164,195,697		168,997,734	163,003,363
Weighted average number of common shares used in computing diluted net loss per share	169,148,522		164,195,697		168,997,734	163,003,363
Net loss per share: Basic	$ 0		$ (0.03)		$ (0.01)	$ (0.08)
Net loss per share: Diluted	$ 0		$ (0.03)		$ (0.01)	$ (0.08)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders (Parenthetical) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net loss per share: Basic	$ 0	$ (0.03)	$ (0.01)	$ (0.08)
Net loss per share: Diluted	$ 0	$ (0.03)	$ (0.01)	$ (0.08)

Net Loss Per Share - Additional

Net Loss Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,397,227	10,179,411	8,397,227	10,179,411
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9,137,986	12,365,441	9,137,986	12,365,441
Private Placement Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	12,780,000	12,780,000	12,780,000	12,780,000
Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	21,350,000	21,350,000	21,350,000	21,350,000

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of accrued expenses and other current liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Expense and Other Current Liabilities [Abstract]
Employee compensation	$ 3,358	$ 7,269
Severance	978
User acquisition	648	1,525
Professional fees	680	626
Other	1,649	3,048
Accrued expenses and other current liabilities	$ 7,313	$ 12,468

Variable Interest Entities -Add

Variable Interest Entities -Additional Information (Details)	6 Months Ended
	Jun. 30, 2024
Variable interest in TPN
Variable Interest Entity [Line Items]
Variable Interest Entity, Financial or Other Support, Reasons	The Company holds a variable interest in Talkspace Provider Network, PA (“TPN”) and seven affiliated professional corporations (“PC entities”). The Company evaluates whether an entity in which it has a variable interest is considered a VIE. VIEs are generally entities that have either a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support, or whose equity investors lack the characteristics of a controlling financial interest (i.e., ability to direct the activities of the entity that most significantly impact the entity's economic performance through voting rights and a right to receive the expected residual returns of the entity or an obligation to absorb the expected losses of the entity).

Variable Interest Entities - Su

Variable Interest Entities - Summary of assets and liabilities of the Company's consolidated VIE (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 114,913	$ 123,908
Accounts receivable	11,554	10,174
Total assets	133,790	142,221
LIABILITIES
Accrued expenses and other current liabilities	7,313	12,468
Variable Interest Entity [Member]
ASSETS
Cash and cash equivalents	83	167
Accounts receivable	7,812	4,031
Other assets	12,741	11,493
Total assets	20,636	15,691
LIABILITIES
Accrued expenses and other current liabilities	1,546	2,831
Total Liabilities	$ 1,546	$ 2,831

SUBSEQUENT EVENT (Additional In

SUBSEQUENT EVENT (Additional Information) (Details) - Share Repurchase Program - USD ($) $ in Millions	Aug. 01, 2024	Feb. 22, 2024
Board of Directors
Subsequent Event [Line Items]
Stock repurchase authorized amount		$ 15
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock repurchase authorized amount	$ 32
Share repurchase program, expiration date	Aug. 01, 2026
Subsequent Event [Member] | Board of Directors
Subsequent Event [Line Items]
Stock repurchase authorized amount	$ 25