Talkspace gains on full-year revenue forecast raise, upbeat quarter

Talkspace,.

03/05/2023 14:33

** Shares of online therapy provider Talkspace Inc  TALK.O 
rise 11.5% to 89 cents 
    ** TALK late on Tuesday raised the lower end of its FY23
revenue forecast; now expects revenue between $130 mln and $135
mln, up from $125 mln to $135 mln forecast previously
    ** TALK said its unit, which provides services to businesses
and employers, contributed to 70% of its revenue in Q1
    ** Co's Q1 revenue rose nearly 11% to $33.3 mln, beating
Refinitiv IBES estimates, while operating expenses fell
    ** SVB Securities says it is more positive on TALK's
turnaround story, but says it awaits more evidence of execution
given an uncertain macro backdrop
    ** TALK shares have risen nearly 30% YTD up to the last
close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))