Health Tech

Talkspace领导人随着公司的增长而缺乏期望

The company’s co-founders are leaving the company as it struggles with retention and billing, with revenue coming short of expectations for the quarter. In the interim, Chairman Doug Braunstein will lead the company.

Talkspace的联合创始人和顶级高管留下了少于五个月的任期作为公开交易公司。Talkspace突然宣布了首席执行官Oren Frank and Roni Frank的临床服务负责人周一,与董事长杜格尔·伦泰坦董事长在临时采取缰绳。即将与低于预期的季度收益报告相结合,向本公司的股票暴跌36%,周二收于2.16美元。

Although the company did not comment on the reason for the sudden change, Braunstein said in an earnings call, “We did not get started as a public company in the manner that we had hoped for, and obviously we’re disappointed by that.”

他补充说,董事会一直在与Talkspace对管理和继承的领导,决定性地决定改变。

“And obviously, as you can see from the press releases that came out, Oren agreed that this was the right decision at the right time,” he said.

talkspace.co-founders Oren and Roni Frank were notably absent from the Monday earnings call. The husband-and-wife team started the company nearly a decade ago, with theidea of letting people text a therapist.

在一个新闻发布中,弗兰克说:“我非常自豪地为Roni公司和我建造的。罗尼和我是企业家,我们期待着我们的下一次冒险。“

While Talkspace has touted making therapy more accessible, it has also faced its share of challenges. Back in 2016, former therapists raised concerns about patient safety,讲述边缘that Talkspace didn’t have good practices for reporting dangerous situations. Allegations about its privacy practices surfaced more recently in the纽约时报, after a former employee sued the company for wrongful termination, claiming that Talkspace’s leadership “reenacted” his private conversations with a therapist in front of other employees.Talkspace推回了报告, saying its platform is HIPAA compliant.

Talkspace于6月公开了与特殊目的习得公司合并(SPAC) formed by Braunstein, a former JP Morgan executive.

目前,这company has just over 60,000 active members,一半以上通过公司或保险访问其服务。虽然公司在其B2B业务中出现了重大增长,但即将直接访问其应用程序的人数已经放缓。

In total, the company’s net revenue of $26.4 million for the third quarter came in below analyst expectations, at just a 23% increase over the previous year.

It was also dinged by a one-time charge of $2.8 million, related to uncollected claims for visits through insurers and EAP programs. Talkspace’s new CFO, Jennifer Fulk, said that “claims processing has so far been a highly manual and complex process,” adding that improving this would be critical as the company scales its business.

The company reported a net income of $1.5 million for the quarter, up from a $2.7 million net loss last year.

As the company searches for a new CEO, Braunstein said he plans to tackle some of these challenges in the interim. For instance, he plans to focus on hiring more therapists as employees, rather than as independent contractors, which was Talkspace’s original model.

He also plans to improve synergies between the company’s B2B and B2C channels, focusing the company’s product roadmap and investing in its brand. Boiling it down, he said it’s about better execution.

“幸运的是,董事会和我认为,在本季度对业务产生负面影响的几个运营挑战是可追究的,并且应该积极影响绩效随着时间的推移,”他说。“我确实希望我们的管理团队与我一起工作,并强调执行,优先级和更为纪律的资本分配方法。”

With $223 million on the company’s balance sheet, it has plenty of cash to work with. But it’s also losing time as other companies selling mental health services to employers, such asLyra.姜/顶部空间,也雕刻了他们的市场。

“While we think execution on these initiatives should lead to more efficient customer acquisition, higher satisfaction, and better retention, that we have reached this point is disappointing, particularly given the opportunity cost of having to fix issues instead of capitalizing on the unique tailwind of raised awareness for behavioral health,” Cowen Managing Director Charles Rhyee wrote in a research note.

William Blair Partner Ryan Daniels took a slightly more optimistic tone, noting that while it was a disappointing quarter, the search for a new CEO could be a positive as the company shifts from a founder-CEO to one that has more public company experience.

照片:Alisa Zahoruiko,Getty Images

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