Talkspace Inc. (NASDAQ: TALK) reported full-year 2025 financial results demonstrating significant growth in its enterprise payor business, offsetting declines in its direct-to-consumer segment. The telehealth platform generated $228.9 million in total revenue, representing 22% year-over-year growth, while posting net income of $7.8 million and adjusted EBITDA of $15.8 million—a 127% increase from the prior year period.
The company's fourth quarter performance highlighted the diverging trajectories of its business segments. Q4 revenue reached $63.0 million, up 29% year-over-year, propelled by payor revenue growth of 38-41%. However, consumer-direct revenue declined 30% during the quarter, reflecting ongoing market dynamics in the direct-to-consumer mental health services space. The fourth quarter represented the company's strongest quarterly performance on record.
Looking ahead, Talkspace issued 2026 guidance projecting revenue between $275-290 million and adjusted EBITDA in the range of $30-35 million. The outlook reflects management's confidence in continued expansion of its enterprise payor business, which has emerged as a primary growth driver for the organization.