corp
L1
Talkspace
Sphere us
UHS $835M acquisition PENDING (Q3-26 close, shareholder-approved); double-dependent like its peers. (Prior Teladoc-owned gloss was WRONG — they are competitors; fixed 2026-07-28.)
The metrics
- Posture high
- sale-pending (mid-acquisition by UHS) 3 src →
- Capital · available high
- $136.2M total assets (2026-03-31, most recent 10-Q), of which $31.4M cash & cash equivalents (down from $37.4M at 2025-12-31). This IS the weight axis for Talkspace per the wave-G recipe … 1 src →
- Capital · operating high
- FY2025 revenue $228.9M (vs. $187.6M FY2024, ~22% YoY growth). Q1 2026 revenue $61.7M (vs. $52.2M Q1 2025), an annualized run-rate of ~$247M if Q1 held flat across the year. Segments (Q1 … 2 src →
- Capital · deployed high
- New-position deployment is thin: $3.2M capitalized internal-use software costs in Q1 2026 (vs. $2.0M Q1 2025) + $2.7M R&D expense in Q1 2026 -> annualized ~$23.6M/yr combined, the basis for … 1 src →
- Capital · in med
- No new external capital inflow this period — no financing round, no debt raise disclosed. The only inbound-capital event on the horizon is the UHS acquisition itself (an inflow to … 1 src →
- Capital · out high
- Capital returned to shareholders via buyback was active pre-deal but has stopped: $6.975M spent retiring 2.5M shares in Q1 2025; ZERO buybacks in Q1 2026 (paused, consistent with a company … 2 src →
- Optionality high
- locked (band: constrained-to-locked) — mid-acquisition by a strategic buyer (UHS), stockholder vote ALREADY passed (2026-05-29), expected close Q3 2026, $32.4M termination fee disclosed. Per … 2 src →
- Gravity high
- ~$0.23B/yr, grounded directly in disclosed revenue (dependent-economy proxy = the payor/consumer economy that pays for and depends on Talkspace's care access), not gross session/member … 3 src →
Projects & threads
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The Funding Shift
capital flow
— developing · last seen 2026-08-29
· 16 entries
Full item history for Talkspace →
Vocabulary