Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 7, 2026
Talkspace, Inc. (TALK)
A forensic read on Talkspace, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
11.0
Distress distance
Clean
Earnings quality
6
Forensic signals
6.7%
ROE
$868M
Market cap
729.2%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Talkspace, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 11.0, placing it in the Safe zone. 6 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
3.5%
FY2025
Return on invested capital.Return on invested capital is 3.5% in the latest fiscal year and rising from -9% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+3.4%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +11% over the last 3 years to FY2025 (+3.4%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~3.4% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~10%.
202% of OCF
FY2025
Shareholder returns.Returned $17M to shareholders (buybacks + dividends) in FY2025 — 202% of operating cash flow. Capex isn't disclosed for FY2025, so this is the ceiling on coverage, not the free-cash-flow payout; returns exceed even operating cash, so the extra is coming from debt or reserves.
+64.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +64.7% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply, and much of it is accounted for. The build is led by receivables up +67% against revenue +729%. That build tracks a +729% revenue year: net operating assets grew +96% and receivables +67%, so the balance sheet is carrying more volume rather than getting heavier per dollar of sales — the accrual build is funding demand the company is shipping, not earnings running ahead of collection. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 1% of net operating assets, diverging from the balance-sheet accrual read.
Key fundamentals
Latest Revenue$228.9M
Revenue Growth YoY+729.2%
Revenue CAGR (3yr)+24.2%
Net Margin3.4%
Return on Equity6.7%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Talkspace, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 7, 2026. Forensic signals flag probability, not certainty.
Talkspace, Inc. (TALK) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
4% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 4% of revenue in FY2025 — about $0.05 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 3.5% a year and is falling.
$6M
FY2022–FY2022
Goodwill impairments.Took $6M of goodwill writedowns across 1 year (FY2022 ($6M)). Writedowns mean past acquisitions underperformed what was paid for them.