Talkspace, Inc.(:TALK)
Talkspace, Inc. operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychothera...
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 61,679,000 | 62,998,000 | 59,381,000 | 54,310,000 | ||||||||||||||||||||
yoy | ||||||||||||||||||||||||
qoq | -2.09% | 6.09% | 9.34% | |||||||||||||||||||||
costs and operating expenses: | ||||||||||||||||||||||||
cost of revenue, excluding depreciation and amortization | 36,064,000 | 36,075,000 | 34,741,000 | 30,917,000 | ||||||||||||||||||||
research and development | 2,664,000 | 2,357,000 | 1,784,000 | 2,563,000 | 3,319,000 | 2,256,000 | 2,352,000 | 2,163,000 | 3,739,000 | 3,867,000 | 4,180,000 | 4,171,000 | 5,353,000 | 4,866,000 | 6,182,000 | 5,576,000 | 5,035,000 | 3,896,000 | 4,278,000 | 4,781,000 | ||||
clinical operations | 1,874,000 | 1,793,000 | 1,638,000 | 1,921,000 | 1,856,000 | 1,740,000 | 1,677,000 | 1,661,000 | 1,464,000 | 1,478,000 | 1,405,000 | 1,675,000 | 1,601,000 | 277,000 | 2,222,000 | 2,316,000 | 1,776,000 | 3,479,000 | 1,896,000 | 1,913,000 | ||||
sales and marketing | 13,849,000 | 12,380,000 | 13,245,000 | 14,253,000 | 13,984,000 | 12,039,000 | 12,337,000 | 13,269,000 | 13,009,000 | 12,846,000 | 13,184,000 | 13,045,000 | 13,469,000 | 14,128,000 | 18,375,000 | 18,931,000 | 21,408,000 | 25,516,000 | 26,431,000 | 26,443,000 | ||||
general and administrative | 12,818,000 | 5,743,000 | 5,089,000 | 5,728,000 | 5,207,000 | 4,929,000 | 5,156,000 | 7,344,000 | 5,198,000 | 5,363,000 | 5,259,000 | 5,329,000 | 5,364,000 | 11,801,000 | 7,667,000 | 8,792,000 | 8,010,000 | 11,658,000 | 6,794,000 | 13,710,000 | ||||
depreciation and amortization | 1,537,000 | 821,000 | 686,000 | 718,000 | ||||||||||||||||||||
total costs and operating expenses | 68,806,000 | 59,169,000 | 57,183,000 | 56,100,000 | ||||||||||||||||||||
income from operations | -7,127,000 | 3,829,000 | 2,198,000 | -1,790,000 | -1,085,000 | 569,000 | 99,000 | -728,422 | -118,542 | -62,948 | ||||||||||||||
yoy | 556.87% | 572.93% | 2120.20% | |||||||||||||||||||||
qoq | -286.13% | 74.20% | -222.79% | 64.98% | -290.69% | 474.75% | 88.32% | |||||||||||||||||
operating margin % | -11.55% | 6.08% | 3.70% | -3.30% | -Infinity% | Infinity% | Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | -Infinity% | NaN% | -Infinity% | -Infinity% |
financial income | -945,000 | -1,286,000 | -1,078,000 | -1,325,000 | -1,526,000 | -424,000 | 222,250 | 1,885,000 | 5,925,000 | 26,743,000 | ||||||||||||||
income before income taxes | -6,182,000 | 813,000 | 3,276,000 | |||||||||||||||||||||
income tax expense | 124,000 | 350,000 | 25,000 | 76,000 | 123,000 | |||||||||||||||||||
net income | -6,306,000 | 4,765,000 | 3,251,000 | -541,000 | 318,000 | 1,214,000 | 1,874,000 | -474,000 | -1,466,000 | -1,306,000 | -4,414,000 | -4,704,000 | -8,758,000 | -18,307,000 | -17,983,000 | 23,022,000 | 20,360,000 | 104,416,000 | 1,505,000 | 30,441,000 | 10,361,129 | -10,114 | -35,385 | |
yoy | -2083.02% | 292.50% | 73.48% | 14.14% | -121.69% | -192.96% | -142.46% | -89.92% | -83.26% | -92.87% | -75.45% | -120.43% | -143.02% | -117.53% | -1294.88% | -24.37% | 96.50% | -14980.36% | -86127.98% | |||||
qoq | -232.34% | 46.57% | -700.92% | -270.13% | -73.81% | -35.22% | -495.36% | -67.67% | 12.25% | -70.41% | -6.16% | -46.29% | -52.16% | 1.80% | -178.11% | 13.07% | -80.50% | 6837.94% | -95.06% | 193.80% | -71.42% | |||
net income margin % | -10.22% | 7.56% | 5.47% | -1.00% | Infinity% | Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | NaN% | -Infinity% | -Infinity% |
net income per share | ||||||||||||||||||||||||
basic | -0.04 | 0.03 | 0.02 | 0.01 | -0.098 | -0.11 | -0.16 | 0.01 | ||||||||||||||||
diluted | -0.04 | 0.02 | 0.02 | 0.01 | -0.098 | -0.11 | -0.16 | 0.01 | ||||||||||||||||
weighted-average shares used for eps calculation | ||||||||||||||||||||||||
basic | 167,075,636 | 167,089,060 | 166,190,495 | 168,670,861 | 168,906,900 | 168,426,349 | 158,330,684 | 152,267,870 | ||||||||||||||||
diluted | 167,075,636 | 173,648,431 | 171,462,202 | 175,545,887 | 176,495,872 | 173,753,763 | 158,330,684 | 165,179,012 | ||||||||||||||||
loss before taxes on income | -465,000 | -442,000 | -1,301,000 | -1,253,000 | -4,400,000 | -4,696,000 | -8,615,000 | 22,933,000 | 20,339,000 | 30,431,000 | ||||||||||||||
net income per share | ||||||||||||||||||||||||
basic and diluted | -0.01 | -0.028 | -0.03 | -0.03 | -0.05 | |||||||||||||||||||
weighted-average shares used for eps calculation | ||||||||||||||||||||||||
basic and diluted | 167,532,721 | 169,148,522 | 168,846,946 | 166,570,673 | 164,195,697 | 161,797,781 | ||||||||||||||||||
revenues | 52,182,000 | 48,720,000 | 47,399,000 | 46,058,000 | 45,416,000 | 42,418,000 | 38,646,000 | 35,645,000 | 33,336,000 | 30,241,000 | 29,332,000 | 29,844,000 | 30,150,000 | 29,172,000 | 26,359,000 | 30,983,000 | ||||||||
cost of revenues | 28,901,000 | 27,187,000 | 25,778,000 | 25,107,000 | 23,685,000 | 21,447,000 | 19,797,000 | 17,833,000 | 16,588,000 | 14,066,000 | 14,737,000 | 15,297,000 | 15,129,000 | 13,201,000 | 12,187,000 | 11,697,000 | ||||||||
gross profit | 23,281,000 | 21,533,000 | 21,621,000 | 20,951,000 | 21,731,000 | 20,971,000 | 18,849,000 | 17,812,000 | 16,748,000 | 16,175,000 | 14,595,000 | 14,547,000 | 15,021,000 | 15,971,000 | 14,172,000 | 19,286,000 | ||||||||
yoy | 7.13% | 2.68% | 14.71% | 17.62% | 29.75% | 29.65% | 29.15% | 22.44% | 11.50% | 1.28% | 2.98% | -24.57% | ||||||||||||
qoq | 8.12% | -0.41% | 3.20% | -3.59% | 3.62% | 11.26% | 5.82% | 6.35% | 3.54% | 10.83% | 0.33% | -3.16% | -5.95% | 12.69% | -26.52% | |||||||||
gross margin % | 0% | 0% | 0% | 0% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | NaN% | NaN% | NaN% | NaN% |
operating expenses: | ||||||||||||||||||||||||
total operating expenses | 24,366,000 | 20,964,000 | 21,522,000 | 24,437,000 | 23,410,000 | 23,554,000 | 24,028,000 | 24,220,000 | 25,787,000 | 37,206,000 | 34,446,000 | 35,615,000 | 36,229,000 | 44,549,000 | 39,399,000 | 46,847,000 | ||||||||
income before taxes on income | 441,000 | 14,250 | 1,800,000 | -15,309,500 | -17,966,000 | -10,411,250 | 1,516,000 | |||||||||||||||||
financial (income) | -1,280,750 | -1,701,000 | -3,044,000 | -378,000 | -1,330,000 | -779,000 | ||||||||||||||||||
taxes on income | 30,750 | -74,000 | 32,000 | 165,000 | 53,000 | 14,000 | 8,000 | 143,000 | 127,000 | 17,000 | 89,000 | 21,000 | 18,000 | 11,000 | 10,000 | |||||||||
operating income | -3,486,000 | -1,679,000 | -2,583,000 | -5,179,000 | -6,408,000 | -9,039,000 | 21,068,000 | 21,208,000 | 159,268,000 | -25,227,000 | 27,561,000 | |||||||||||||
weighted-average number of common shares used in computing basic and diluted net loss per share: | 154,083,443 | |||||||||||||||||||||||
basic and diluted | 167,532,721 | 169,148,522 | 168,846,946 | 166,570,673 | 164,195,697 | 161,797,781 | ||||||||||||||||||
financial expense | -1,712,000 | 1,865,000 | -869,000 | 2,870,000 | ||||||||||||||||||||
operating | -15,531,750 | -19,851,000 | ||||||||||||||||||||||
weighted-average number of common shares: | ||||||||||||||||||||||||
basic | 167,075,636 | 167,089,060 | 166,190,495 | 168,670,861 | 168,906,900 | 168,426,349 | 158,330,684 | 152,267,870 | ||||||||||||||||
diluted | 167,075,636 | 173,648,431 | 171,462,202 | 175,545,887 | 176,495,872 | 173,753,763 | 158,330,684 | 165,179,012 | ||||||||||||||||
net income per share | ||||||||||||||||||||||||
basic and diluted net loss per share | 0.15 | 0.13 | 1.15 | |||||||||||||||||||||
weighted-average number of common shares: | ||||||||||||||||||||||||
weighted-average number of common shares used in computing basic and diluted net loss per share | 165,039,920 | 156,885,256 | 155,709,901 | 86,775,948 | 26,362,369 | |||||||||||||||||||
weighted-average number of common shares : | ||||||||||||||||||||||||
weighted-average number of common shares used in computing basic and diluted net loss per share: | 154,083,443 | |||||||||||||||||||||||
other comprehensive income | ||||||||||||||||||||||||
comprehensive income | -10,418,500 | 1,505,000 | ||||||||||||||||||||||
weighted-average number of common shares : | ||||||||||||||||||||||||
basic | 167,075,636 | 167,089,060 | 166,190,495 | 168,670,861 | 168,906,900 | 168,426,349 | 158,330,684 | 152,267,870 | ||||||||||||||||
diluted | 167,075,636 | 173,648,431 | 171,462,202 | 175,545,887 | 176,495,872 | 173,753,763 | 158,330,684 | 165,179,012 | ||||||||||||||||
comprehensive loss | 30,441,000 | |||||||||||||||||||||||
general and administrative expenses | 728,422 | 118,542 | 62,948 | |||||||||||||||||||||
other income: | ||||||||||||||||||||||||
change in fair value of warrants | 8,467,400 | |||||||||||||||||||||||
change in fair value of fpa | 2,575,000 | |||||||||||||||||||||||
interest earned on marketable securities held in trust account | 47,151 | 126,856 | 27,563 | |||||||||||||||||||||
other income | 11,089,551 | |||||||||||||||||||||||
income before provision for income taxes | 10,361,129 | 8,314 | -35,385 | |||||||||||||||||||||
provision for income taxes | -18,428 | |||||||||||||||||||||||
weighted-average shares outstanding of class a redeemable common stock | 41,400,000 | 41,400,000 | 41,400,000 | |||||||||||||||||||||
basic and diluted income per share, class a redeemable common stock | ||||||||||||||||||||||||
weighted-average shares outstanding of class b non-redeemable common stock | 10,350,000 | 10,350,000 | 10,350,000 | |||||||||||||||||||||
basic and diluted net loss per share, class b non-redeemable common stock | 1 | -0.01 | ||||||||||||||||||||||
basic and diluted income per share, class a | ||||||||||||||||||||||||
basic and diluted net loss per share, class b |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||
current assets: | |||||||||||||||||||||
cash and cash equivalents | 31,411,000 | 37,352,000 | 39,508,000 | 54,342,000 | 60,077,000 | 76,692,000 | 118,994,000 | 114,913,000 | 120,278,000 | 123,908,000 | 125,332,000 | 126,104,000 | 125,083,000 | 138,545,000 | 152,639,000 | 166,622,000 | 184,127,000 | 198,256,000 | 222,865,000 | 248,173,000 | |
marketable securities | 52,801,000 | 55,234,000 | 52,100,000 | 48,427,000 | 48,274,000 | 41,118,000 | |||||||||||||||
accounts receivable | 23,592,000 | 16,061,000 | 14,927,000 | 15,422,000 | 13,249,000 | 9,643,000 | 9,602,000 | 11,554,000 | 11,035,000 | 10,174,000 | 7,972,000 | 8,420,000 | 12,460,000 | 9,640,000 | 8,692,000 | 7,162,000 | 6,312,000 | 5,512,000 | 5,318,000 | 6,617,000 | |
other current assets | 2,695,000 | 2,415,000 | 3,800,000 | 2,476,000 | 2,519,000 | 2,729,000 | 2,922,000 | 2,302,000 | 4,417,000 | 5,718,000 | 4,413,000 | 2,920,000 | 3,813,000 | 4,372,000 | 4,606,000 | 3,940,000 | 5,039,000 | 9,562,000 | 10,023,000 | 4,318,000 | |
total current assets | 110,499,000 | 111,062,000 | 114,480,000 | 120,667,000 | 124,119,000 | 130,182,000 | 131,518,000 | 128,769,000 | 135,730,000 | 139,800,000 | 137,717,000 | 137,444,000 | 141,356,000 | 152,557,000 | 165,937,000 | 177,724,000 | 195,478,000 | 213,330,000 | 238,206,000 | 259,108,000 | 528,628 |
fixed assets | 18,000,000 | 15,794,000 | 12,728,000 | 10,136,000 | 8,016,000 | ||||||||||||||||
goodwill | 3,427,000 | 3,318,000 | 6,134,000 | 6,134,000 | 6,134,000 | 6,134,000 | 6,134,000 | 6,134,000 | |||||||||||||
other long-term assets | 4,266,000 | 4,689,000 | 1,852,000 | 1,983,000 | 2,110,000 | 8,495,000 | 6,713,000 | 5,021,000 | 2,546,000 | 321,000 | 388,000 | 464,000 | 518,000 | 85,000 | 82,000 | 82,000 | 82,000 | 98,000 | |||
total assets | 136,192,000 | 134,863,000 | 129,060,000 | 132,786,000 | 134,245,000 | 138,677,000 | 138,231,000 | 133,790,000 | 138,276,000 | 142,221,000 | 140,348,000 | 140,521,000 | 144,780,000 | 156,254,000 | 175,630,000 | 187,466,000 | 205,413,000 | 223,606,000 | 248,956,000 | 270,204,000 | 414,804,060 |
liabilities and stockholders’ equity | |||||||||||||||||||||
current liabilities: | |||||||||||||||||||||
accounts payable | 11,655,000 | 8,501,000 | 9,617,000 | 8,618,000 | 10,526,000 | 7,710,000 | 8,299,000 | 7,733,000 | 5,805,000 | 6,111,000 | 6,512,000 | 5,484,000 | 7,674,000 | 6,461,000 | 10,360,000 | 7,810,000 | 9,490,000 | 7,429,000 | 14,039,000 | 11,759,000 | |
accrued expenses and other current liabilities | 8,174,000 | 6,672,000 | 6,649,000 | 7,056,000 | 4,744,000 | 8,031,000 | 7,247,000 | 7,313,000 | 6,998,000 | 12,468,000 | 10,717,000 | 10,444,000 | 9,800,000 | 16,502,000 | 13,206,000 | 10,898,000 | 10,234,000 | 12,562,000 | 7,634,000 | 9,640,000 | |
deferred revenue | 2,983,000 | 3,112,000 | 2,866,000 | ||||||||||||||||||
total current liabilities | 22,812,000 | 17,396,000 | 19,378,000 | 18,540,000 | 19,119,000 | 19,023,000 | 19,053,000 | 17,779,000 | 15,686,000 | 21,648,000 | 20,851,000 | 19,611,000 | 21,597,000 | 27,318,000 | 29,024,000 | 24,658,000 | 25,750,000 | 27,177,000 | 29,975,000 | 28,948,000 | 1,601,608 |
other long-term liabilities | 325,000 | 452,000 | 577,000 | 443,000 | 502,000 | 569,000 | 542,000 | 635,000 | 24,000 | 85,000 | 190,000 | 295,000 | 418,000 | 288,000 | 267,000 | 191,000 | 86,000 | 86,000 | 98,000 | ||
total liabilities | 23,137,000 | 17,848,000 | 19,955,000 | 19,845,000 | 20,827,000 | 21,282,000 | 20,643,000 | 19,746,000 | 18,698,000 | 23,575,000 | 22,627,000 | 20,726,000 | 23,143,000 | 28,718,000 | 32,961,000 | 30,212,000 | 29,136,000 | 31,333,000 | 42,073,000 | 67,943,000 | 62,868,208 |
commitments and contingencies | |||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||
common stock of 0.0001 par value per share... | 17,000 | 17,000 | 17,000 | 17,000 | 17,000 | 16,000 | |||||||||||||||
additional paid-in capital | 380,830,000 | 378,384,000 | 375,235,000 | 382,364,000 | 382,292,000 | 386,612,000 | 388,021,000 | 386,352,000 | 391,412,000 | 389,014,000 | 386,783,000 | 384,443,000 | 381,581,000 | 378,722,000 | 375,549,000 | 372,151,000 | 368,152,000 | 363,788,000 | 357,330,000 | 354,213,000 | 21,873,075 |
accumulated deficit | -267,749,000 | -261,443,000 | -266,208,000 | -269,459,000 | -268,918,000 | -269,236,000 | -270,450,000 | -272,324,000 | -271,850,000 | -270,384,000 | -269,078,000 | -264,664,000 | -259,960,000 | -251,202,000 | -232,895,000 | -214,912,000 | -191,890,000 | -171,530,000 | -150,462,000 | -151,967,000 | -16,874,779 |
accumulated other comprehensive income | -43,000 | 57,000 | 61,000 | 19,000 | 27,000 | 2,000 | |||||||||||||||
total stockholders’ equity | 113,055,000 | 117,015,000 | 109,105,000 | 112,941,000 | 113,418,000 | 117,395,000 | 117,588,000 | 114,044,000 | 119,578,000 | 118,646,000 | 117,721,000 | 119,795,000 | 121,637,000 | 127,536,000 | 142,669,000 | 157,254,000 | 176,277,000 | 192,273,000 | 206,883,000 | 5,000,002 | |
total liabilities and stockholders’ equity | 136,192,000 | 134,863,000 | 129,060,000 | 132,786,000 | 134,245,000 | 138,677,000 | 138,231,000 | 133,790,000 | 138,276,000 | 142,221,000 | 140,348,000 | 140,521,000 | 144,780,000 | 156,254,000 | 175,630,000 | 187,466,000 | 205,413,000 | 414,804,060 | |||
deferred revenues | 2,223,000 | 3,849,000 | 3,282,000 | 3,507,000 | 2,733,000 | 2,883,000 | 3,069,000 | 3,622,000 | 3,683,000 | 4,123,000 | 4,355,000 | 5,458,000 | 5,950,000 | 6,026,000 | 7,186,000 | 8,302,000 | 7,549,000 | ||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at december 31, 2025 and 2024; issued and outstanding: 166,718,150 and 168,849,591 shares at december 31, 2025 and 2024, respectively | 17,000 | ||||||||||||||||||||
restricted cash | 4,145,000 | ||||||||||||||||||||
warrant liabilities | 862,000 | 1,206,000 | 1,690,000 | 1,048,000 | 1,332,000 | 2,988,000 | 1,842,000 | 1,586,000 | 820,000 | 1,128,000 | 939,000 | 3,649,000 | 5,287,000 | 3,195,000 | 4,070,000 | 12,012,000 | 38,897,000 | ||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at december 31, 2024 and 2023; issued and outstanding: 168,849,591 and 168,428,856 shares at december 31, 2024 and 2023, respectively | 17,000 | ||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at march, 2024 (unaudited) and december 31, 2023; issued and outstanding: 169,569,075 and 168,428,856 shares at march 31, 2024 (unaudited) and december 31, 2023, respectively | 16,000 | ||||||||||||||||||||
property and equipment | 314,000 | 272,000 | 456,000 | 563,000 | 677,000 | 845,000 | 623,000 | 633,000 | 624,000 | 658,000 | 549,000 | ||||||||||
intangible assets | 1,786,000 | 1,971,000 | 2,157,000 | 2,343,000 | 2,529,000 | 2,714,000 | 2,900,000 | 3,086,000 | 3,436,000 | 3,876,000 | 4,315,000 | ||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at december 31, 2023 and 2022; issued and outstanding: 168,428,856 and 161,155,030 shares at december 31, 2023 and 2022, respectively | 16,000 | ||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at september 30, 2023 and december 31, 2022; issued and outstanding: 167,065,019 and 161,155,030 shares at september 30, 2023 and december 31, 2022, respectively | 16,000 | ||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at june 30, 2023 and december 31, 2022; issued and outstanding: 166,204,295 and 161,155,030 shares at june 30, 2023 and december 31, 2022, respectively | 16,000 | ||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at march 31, 2023 and december 31, 2022; issued and outstanding: 163,119,345 and 161,155,030 shares at march 31, 2023 and december 31, 2022, respectively | 16,000 | ||||||||||||||||||||
other assets | 491,000 | ||||||||||||||||||||
other liabilities | 461,000 | ||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at december 31, 2022 and 2021; issued and outstanding: 161,155,030 and 152,862,447 shares at december 31, 2022 and 2021, respectively | 16,000 | ||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at september 30, 2022 and december 31, 2021; issued and outstanding: 158,991,019 and 152,862,447 shares at september 30, 2022 and december 31, 2021, respectively | 15,000 | ||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at june 30, 2022 and december 31, 2021; issued and outstanding: 157,372,616 and 152,862,447 shares at june 30, 2022 and december 31, 2021, respectively | 15,000 | ||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 shares at march 31, 2022 and december 31, 2021; issued and outstanding: 155,104,655 and 152,862,447 shares at march 31, 2022 and december 31, 2021, respectively | 15,000 | ||||||||||||||||||||
deferred issuance cost | |||||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ equity | |||||||||||||||||||||
convertible preferred stock: | |||||||||||||||||||||
convertible preferred stock (series seed, seed-1, seed-2, a, b, c and d) of 0.0001 par value — authorized: 0 and 95,709,146 shares at december 31, 2021 and 2020, respectively; issued and outstanding: 0 and 94,582,550 shares at december 31, 2021 and 2020, respectively | |||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 and 129,397,278 shares at december 31, 2021 and 2020, respectively; issued and outstanding: 152,862,447 and 13,413,431 shares at december 31, 2021 and 2020, respectively | 15,000 | ||||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ equity | 223,606,000 | 248,956,000 | |||||||||||||||||||
deferred issuance costs | |||||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ deficit | |||||||||||||||||||||
convertible preferred stock (series seed, seed-1, seed-2, a, b, c and d) of 0.0001 par value — authorized: 100,000,000 and 95,709,146 shares at september 30, 2021 and december 31, 2020, respectively; issued and outstanding: 0 and 94,582,550 shares at september 30, 2021 and december 31, 2020, respectively | |||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 and 129,397,278 shares at september 30, 2021 and december 31, 2020, respectively; issued and outstanding: 152,293,298 and 13,413,431 shares at september 30, 2021 and december 31, 2020, respectively | 15,000 | ||||||||||||||||||||
convertible preferred stock (series seed, seed-1, seed-2, a, b, c and d) of 0.0001 par value — authorized: 100,000,000 and 95,709,146 shares at june 30, 2021 and december 31, 2020, respectively; issued and outstanding: 0 and 94,582,550 shares at june 30, 2021 and december 31, 2020, respectively | |||||||||||||||||||||
stockholders’ deficit: | |||||||||||||||||||||
common stock of 0.0001 par value — authorized: 1,000,000,000 and 129,397,278 shares at june 30, 2021 and december 31, 2020, respectively; issued and outstanding: 152,255,736 and 13,413,431 shares at june 30, 2021 and december 31, 2020, respectively | 15,000 | ||||||||||||||||||||
total stockholders’ deficit | 202,261,000 | ||||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ deficit | 270,204,000 | ||||||||||||||||||||
current assets | |||||||||||||||||||||
cash | 377,294 | ||||||||||||||||||||
prepaid expenses | 151,334 | ||||||||||||||||||||
marketable securities held in trust account | 414,275,432 | ||||||||||||||||||||
current liabilities | |||||||||||||||||||||
accrued expenses | 1,588,952 | ||||||||||||||||||||
income taxes payable | 10,070 | ||||||||||||||||||||
promissory note – related party | 2,586 | ||||||||||||||||||||
fpa liability | 1,650,000 | ||||||||||||||||||||
warrant liability | 45,126,600 | ||||||||||||||||||||
deferred underwriting fee payable | 14,490,000 | ||||||||||||||||||||
class a common stock | 346,935,850 | ||||||||||||||||||||
preferred stock, 0.0001 par value... | |||||||||||||||||||||
class a common stock, 0.0001 par value... | 671 | ||||||||||||||||||||
class b common stock, 0.0001 par value... | 1,035 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||
net income | 4,765,000 | 318,000 | 10,361,129 | |||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||
depreciation and amortization | 821,000 | 686,000 | 702,000 | 666,000 | 207,000 | 231,000 | 220,000 | 201,000 | 283,000 | 305,000 | 302,000 | 306,000 | 351,000 | 309,000 | 268,000 | 429,000 | 515,000 | 503,000 | ||
accretion of discount on marketable securities | -184,000 | -215,000 | ||||||||||||||||||
stock-based compensation | 1,916,000 | 1,841,000 | 2,355,000 | 2,333,000 | 1,883,000 | 1,931,000 | 3,107,000 | 2,252,000 | 1,994,000 | 1,969,000 | 2,129,000 | 2,303,000 | 2,730,000 | 3,179,000 | 3,839,000 | 2,368,000 | 6,821,000 | 3,875,000 | ||
remeasurement of warrant liabilities | -414,000 | -249,000 | -344,000 | -484,000 | 642,000 | -284,000 | -1,656,000 | 1,146,000 | 256,000 | 766,000 | -308,000 | 189,000 | ||||||||
decrease in accounts receivable | -1,134,000 | -41,000 | 1,952,000 | -2,202,000 | 448,000 | -946,000 | ||||||||||||||
decrease in other current assets | 1,476,000 | -1,324,000 | 43,000 | 210,000 | 193,000 | -620,000 | 2,115,000 | 1,301,000 | -1,305,000 | -1,493,000 | 893,000 | 559,000 | 232,000 | -774,000 | 699,000 | 4,923,000 | ||||
increase in accounts payable | -1,116,000 | 999,000 | -1,908,000 | 2,816,000 | -589,000 | 566,000 | 1,928,000 | -306,000 | -401,000 | 1,028,000 | -2,190,000 | 1,213,000 | -3,899,000 | 2,550,000 | -1,680,000 | 2,061,000 | -6,610,000 | 2,280,000 | ||
increase in deferred revenues | 567,000 | -225,000 | -1,103,000 | -492,000 | -76,000 | -1,160,000 | -1,116,000 | 753,000 | ||||||||||||
decrease in accrued expenses and other current liabilities | 438,000 | -1,107,000 | 2,823,000 | -3,798,000 | -65,000 | 315,000 | -5,470,000 | 644,000 | -6,702,000 | 692,000 | -1,837,000 | |||||||||
other | -180,000 | 125,000 | -44,000 | -85,000 | 14,000 | -154,000 | -77,000 | -2,000 | -47,000 | 64,000 | -77,000 | -95,000 | ||||||||
net cash from operating activities | 5,376,000 | 4,748,000 | -351,000 | -1,239,000 | 4,081,000 | 6,205,000 | 4,809,000 | -3,391,000 | -1,530,000 | -1,115,000 | 289,000 | -14,037,000 | -14,221,000 | -13,745,000 | -17,965,000 | -15,146,000 | -24,602,000 | -23,322,000 | ||
capital expenditures | -3,296,000 | -2,853,000 | -2,495,000 | -1,997,000 | -1,675,000 | -1,658,000 | 0 | -385,000 | -131,000 | -10,000 | -1,000 | -9,000 | -96,000 | -94,000 | -72,000 | -88,000 | -41,000 | -173,000 | ||
free cash flows | 2,080,000 | 1,895,000 | -2,846,000 | -3,236,000 | 2,406,000 | 4,547,000 | 4,809,000 | -3,776,000 | -1,661,000 | -1,125,000 | 288,000 | -14,046,000 | -14,317,000 | -13,839,000 | -18,037,000 | -15,234,000 | -24,643,000 | -23,495,000 | ||
cash flows from investing activities: | ||||||||||||||||||||
purchases of marketable securities | -16,689,000 | -12,098,000 | -10,129,000 | -10,428,000 | ||||||||||||||||
proceeds from maturities of marketable securities | 13,739,000 | 8,640,000 | 10,275,000 | 3,430,000 | ||||||||||||||||
capitalized internal-use software costs | -3,296,000 | -2,853,000 | -2,495,000 | -1,997,000 | -1,675,000 | -1,658,000 | ||||||||||||||
acquisition of business, net of cash acquired | ||||||||||||||||||||
net cash from investing activities | -11,175,000 | -6,316,000 | -2,367,000 | -9,019,000 | -42,895,000 | -1,687,000 | -1,765,000 | -385,000 | -131,000 | -28,000 | -1,000 | 19,000 | -63,000 | -94,000 | -72,000 | -88,000 | -41,000 | -173,000 | ||
cash flows from financing activities: | ||||||||||||||||||||
proceeds from exercise of stock options | 51,000 | 135,000 | 49,000 | 678,000 | 394,000 | 32,000 | 843,000 | 741,000 | 648,000 | 569,000 | 869,000 | 621,000 | 485,000 | 347,000 | 286,000 | 2,063,000 | 128,000 | 84,000 | ||
payments for employee taxes withheld related to vested stock-based awards | -553,000 | -457,000 | -1,126,000 | -571,000 | -883,000 | -469,000 | -1,248,000 | -595,000 | -411,000 | -198,000 | -136,000 | -65,000 | -295,000 | -491,000 | 491,000 | -558,000 | ||||
repurchase of common stock for retirement | 0 | -8,799,000 | -1,940,000 | -6,464,000 | ||||||||||||||||
net cash from financing activities | -502,000 | -9,121,000 | -3,017,000 | -6,357,000 | -3,488,000 | -437,000 | -8,409,000 | 146,000 | 237,000 | 371,000 | 733,000 | 556,000 | 190,000 | -144,000 | 132,000 | 1,505,000 | 34,000 | -1,813,000 | ||
net decrease in cash and cash equivalents | -5,735,000 | -16,615,000 | -42,302,000 | 4,081,000 | -5,365,000 | -3,630,000 | -772,000 | 1,021,000 | -13,462,000 | -13,729,000 | ||||||||||
cash and cash equivalents at the beginning of the year | ||||||||||||||||||||
cash and cash equivalents at the end of the year | ||||||||||||||||||||
supplemental cash flow data: | ||||||||||||||||||||
cash paid during the year for income taxes | ||||||||||||||||||||
non-cash investing activity: | ||||||||||||||||||||
stock-based compensation capitalized as part of capitalization of internal-use software costs | ||||||||||||||||||||
lease liabilities arising from obtaining right-of-use assets | 0 | 0 | ||||||||||||||||||
non-cash financing activities: | ||||||||||||||||||||
issuance of common stock as consideration for acquisition | ||||||||||||||||||||
excise tax liability incurred for repurchase of common stock | ||||||||||||||||||||
increase in deferred revenue | ||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | ||||||||||||||||||||
cash, cash equivalents and restricted cash at the beginning of the period | ||||||||||||||||||||
cash, cash equivalents and restricted cash at the end of the period | ||||||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets | ||||||||||||||||||||
cash and cash equivalents | ||||||||||||||||||||
restricted cash | ||||||||||||||||||||
total cash, cash equivalents and restricted cash | ||||||||||||||||||||
cash paid during the period for income taxes | 175,000 | 33,000 | 46,000 | 12,000 | 18,000 | 15,000 | 23,000 | 8,000 | 168,000 | 25,000 | -77,000 | 174,000 | ||||||||
non-cash activities: | ||||||||||||||||||||
non-cash stock-based compensation capitalized as part of capitalization of internal-use software costs | 237,000 | |||||||||||||||||||
liability incurred for repurchase of common stock | 511,000 | |||||||||||||||||||
net loss | 1,874,000 | -474,000 | -1,466,000 | -1,306,000 | -4,414,000 | -4,704,000 | -8,758,000 | -18,307,000 | -17,983,000 | -23,022,000 | -20,360,000 | -21,068,000 | 1,505,000 | |||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||
increase in accounts receivable | -2,173,000 | -3,606,000 | -861,000 | -2,820,000 | -850,000 | -800,000 | 1,299,000 | |||||||||||||
decrease in deferred revenue | ||||||||||||||||||||
cash and cash equivalents at the beginning of the period | 0 | 76,692,000 | 0 | 0 | 123,908,000 | 0 | 0 | 138,545,000 | 0 | 0 | 198,256,000 | 0 | ||||||||
cash and cash equivalents at the end of the period | -5,735,000 | 60,077,000 | 4,081,000 | -5,365,000 | 120,278,000 | -772,000 | 1,021,000 | 125,083,000 | -13,983,000 | -17,905,000 | 184,527,000 | -25,308,000 | ||||||||
accretion of marketable securities | -176,000 | |||||||||||||||||||
non-cash compensation capitalized as part of capitalization of internal-use software costs | 215,000 | 175,000 | ||||||||||||||||||
impairment of goodwill | ||||||||||||||||||||
increase in accrued expenses and other current liabilities | 1,751,000 | 3,397,000 | 4,530,000 | |||||||||||||||||
payments from reverse capitalization | ||||||||||||||||||||
cash paid during the year for interest | ||||||||||||||||||||
non-cash stock-based compensation capitalized in internal-use software costs | ||||||||||||||||||||
repurchase and cancellation of common stock | 0 | |||||||||||||||||||
decrease in deferred revenues | -150,000 | -186,000 | -61,000 | -440,000 | -232,000 | |||||||||||||||
purchase of computer and equipment | ||||||||||||||||||||
purchase of property and equipment | -385,000 | -131,000 | -10,000 | -1,000 | -9,000 | -96,000 | -94,000 | -72,000 | -88,000 | -41,000 | -173,000 | |||||||||
proceeds from sale of property and equipment | 0 | -18,000 | 0 | 28,000 | ||||||||||||||||
amortization of debt issuance costs | ||||||||||||||||||||
proceeds from reverse capitalization, net of transaction costs | 0 | 0 | -94,000 | -1,897,000 | ||||||||||||||||
proceeds from borrowings | 0 | 0 | ||||||||||||||||||
repayment of borrowings | 0 | 0 | ||||||||||||||||||
payment of debt issuance costs | ||||||||||||||||||||
net increase in cash and cash equivalents | -14,094,000 | -13,983,000 | ||||||||||||||||||
non-cash financing activity: | ||||||||||||||||||||
employee taxes withheld related to restricted stock units vested | ||||||||||||||||||||
conversion of preferred stock to common stock | 0 | 0 | ||||||||||||||||||
payments for reverse capitalization, net of transaction costs | ||||||||||||||||||||
cash paid during the period for interest | 29,000 | 21,000 | 13,000 | 12,000 | ||||||||||||||||
increase in other liabilities | ||||||||||||||||||||
acquisition of business | ||||||||||||||||||||
purchase of an intangible asset | ||||||||||||||||||||
proceeds from restricted long-term bank deposit | ||||||||||||||||||||
deferred issuance cost on credit | ||||||||||||||||||||
amortization of debt issuance cost | 0 | |||||||||||||||||||
warrant issue costs and change in fair value | -1,638,000 | |||||||||||||||||||
increase in other long-term liabilities | 24,000 | 73,000 | 105,000 | |||||||||||||||||
payment of debt issuance cost | 0 | |||||||||||||||||||
issuance of warrant and other costs related to the credit agreement | ||||||||||||||||||||
warrant change in fair value | -875,000 | |||||||||||||||||||
payment of deferred issuance costs | ||||||||||||||||||||
deferred issuance costs | ||||||||||||||||||||
warrant issuance cost and change in fair value | -7,942,000 | -26,885,000 | ||||||||||||||||||
increase in other current assets | 462,000 | -6,731,000 | ||||||||||||||||||
proceeds from issuance of convertible preferred stock | ||||||||||||||||||||
change in cash and cash equivalents | -25,308,000 | |||||||||||||||||||
cash paid for interest | 14,000 | |||||||||||||||||||
change in fair value of warrants | -8,467,400 | |||||||||||||||||||
change in fair value of fpa | -2,575,000 | |||||||||||||||||||
interest earned on marketable securities held in trust account | -47,151 | |||||||||||||||||||
operating costs paid through promissory note | 2,586 | |||||||||||||||||||
formation cost paid by sponsor | ||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||
prepaid expenses | -32,809 | |||||||||||||||||||
accrued expenses | -42,438 | |||||||||||||||||||
net used in operating activities | -801,083 | |||||||||||||||||||
net change in cash | -801,083 | |||||||||||||||||||
cash – beginning | 1,178,377 | |||||||||||||||||||
cash – ending | 377,294 | |||||||||||||||||||
change in value of common stock subject to possible redemption | 10,361,130 | |||||||||||||||||||
offering costs included in accrued offering costs | ||||||||||||||||||||
deferred offering costs paid directly by sponsor in consideration for the issuance of class b common stock | ||||||||||||||||||||
payment of offering costs through promissory note — related party | ||||||||||||||||||||
deferred underwriting commissions | ||||||||||||||||||||
redeemable class a common stock | ||||||||||||||||||||
numerator: earnings allocable to redeemable class a common stock | ||||||||||||||||||||
interest income | 47,151 | |||||||||||||||||||
income and franchise tax | -47,151 | |||||||||||||||||||
net earnings | ||||||||||||||||||||
denominator: weighted-average redeemable class a common stock | ||||||||||||||||||||
redeemable class a common stock, basic and diluted | 41,400,000 | |||||||||||||||||||
basic and diluted net income per share, class a | ||||||||||||||||||||
non-redeemable class b common stock | ||||||||||||||||||||
numerator: net income minus redeemable net earnings | ||||||||||||||||||||
lees: redeemable net earnings | ||||||||||||||||||||
non-redeemable net income | 10,361,129 | |||||||||||||||||||
denominator: weighted-average non-redeemable class a and b common stock | ||||||||||||||||||||
non-redeemable class b common stock, basic and diluted | 10,350,000 | |||||||||||||||||||
basic and diluted net income per share, class b | 1 |