v3.25.2
Segments
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segments Segments
ASC Subtopic 280-10, “Segment Reporting,” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s Chief Executive Officer is the CODM and is responsible for reviewing financial information presented on a segment basis for purposes of making operating decisions and assessing financial performance.

The CODM measures and evaluates segments based on segment operating revenues, segment expenses, and Adjusted EBITDA. The CODM reviews annual-operating-plan-to-actual variances for these measures on a regular basis to assess the performance of the segments and to make decisions about allocating resources. The Company does not include the following items in segment expenses and Adjusted EBITDA: provision for income taxes; interest income; interest expense; other expense (income), net; depreciation of property and equipment; amortization of intangible assets; restructuring costs; acquisition, integration, and transformation charges; goodwill impairment; and stock-based compensation. Although these amounts are excluded from segment Adjusted EBITDA, they are included in reported consolidated net loss and are included in the reconciliations that follow.

The Company’s computation of segment Adjusted EBITDA may not be comparable to other similarly titled metrics computed by other companies because all companies do not calculate segment Adjusted EBITDA in the same fashion.

Operating revenues and expenses directly associated with each segment are included in determining its operating results. Other expenses that are not directly attributable to a particular segment are based upon allocation methodologies, including the following: revenue, headcount, time and other relevant usage measures, and/or a combination of such.
The Company has two reportable segments: Integrated Care and BetterHelp. The Integrated Care segment includes a suite of global virtual medical services including general medical, expert medical services, specialty medical, chronic condition management, mental health, and enabling technologies and enterprise telehealth solutions for hospitals and health systems. The BetterHelp segment includes virtual therapy and other wellness services provided on a global basis which are predominantly marketed and sold on a direct-to-consumer basis.

The CODM does not review any information regarding total assets on a segment basis. Segments do not record intersegment revenues, and, accordingly, there is none to be reported. The accounting policies for segment reporting are the same as for the Company as a whole.

The following tables present the financial results of the Company's reportable segments, along with reconciliations of the segments' total consolidated Adjusted EBITDA to the consolidated net loss for the periods indicated (in thousands):

Three Months Ended June 30, 2025Integrated CareBetterHelpConsolidated
Revenue$391,510 $240,390 $631,900 
Cost of revenue, exclusive of depreciation, amortization, and stock-based compensation (1)126,387 63,643 
Advertising and marketing, exclusive of stock-based compensation (1)134,292 
Other segment expenses (2)207,673 30,594 
Adjusted EBITDA$57,450 $11,861 69,311 
Less adjustments to reconcile to consolidated net loss:
Stock-based compensation22,344 
Goodwill impairment— 
Acquisition, integration, and transformation costs2,658 
Restructuring costs5,692 
Amortization of intangible assets88,664 
Depreciation of property and equipment4,338 
Other expense (income), net(8,371)
Interest expense4,473 
Interest income(10,064)
Loss before provision for income taxes(40,423)
Provision for income taxes(7,763)
Net loss$(32,660)
Three Months Ended June 30, 2024Integrated CareBetterHelpConsolidated
Revenue$377,421 $265,023 $642,444 
Cost of revenue, exclusive of depreciation, amortization, and stock-based compensation (1)117,645 69,100 
Advertising and marketing, exclusive of stock-based compensation (1)135,708 
Other segment expenses (2)195,748 34,762 
Adjusted EBITDA$64,028 $25,453 89,481 
Less adjustments to reconcile to consolidated net loss:
Stock-based compensation42,107 
Goodwill impairment790,000 
Acquisition, integration, and transformation costs457 
Restructuring costs1,500 
Amortization of intangible assets94,862 
Depreciation of property and equipment1,703 
Other expense (income), net563 
Interest expense5,648 
Interest income(13,572)
Loss before provision for income taxes(833,787)
Provision for income taxes3,884 
Net loss$(837,671)

Six Months Ended June 30, 2025Integrated CareBetterHelpConsolidated
Revenue$780,978 $480,291 $1,261,269 
Cost of revenue, exclusive of depreciation, amortization, and stock-based compensation (1)257,395 128,891 
Advertising and marketing, exclusive of stock-based compensation (1)267,264 
Other segment expenses (2)415,754 64,561 
Adjusted EBITDA$107,829 $19,575 127,404 
Less adjustments to reconcile to consolidated net loss:
Stock-based compensation47,507 
Goodwill impairment59,138 
Acquisition, integration, and transformation costs4,846 
Restructuring costs10,039 
Amortization of intangible assets172,968 
Depreciation of property and equipment7,902 
Other expense (income), net(10,806)
Interest expense10,238 
Interest income(22,738)
Loss before provision for income taxes(151,690)
Provision for income taxes(26,018)
Net loss$(125,672)
Six Months Ended June 30, 2024Integrated CareBetterHelpConsolidated
Revenue$754,532 $534,043 $1,288,575 
Cost of revenue, exclusive of depreciation, amortization, and stock-based compensation (1)237,958 141,931 
Advertising and marketing, exclusive of stock-based compensation (1)282,705 
Other segment expenses (2)404,872 68,488 
Adjusted EBITDA$111,702 $40,919 152,621 
Less adjustments to reconcile to consolidated net loss:
Stock-based compensation84,432 
Goodwill impairment790,000 
Acquisition, integration, and transformation costs830 
Restructuring costs11,173 
Amortization of intangible assets189,919 
Depreciation of property and equipment4,537 
Other expense (income), net933 
Interest expense11,297 
Interest income(27,514)
Loss before provision for income taxes(912,986)
Provision for income taxes6,574 
Net loss$(919,560)
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(1)The significant segment expense categories and amounts align with the information that is regularly provided to the CODM.
(2)Other segment expenses for the corresponding reportable segment includes:
Integrated Care—advertising and marketing expenses, sales expenses, technology and development expenses, and general and administrative expenses, each exclusive of stock-based compensation.
BetterHelp—sales expenses, technology and development expenses, and general and administrative expenses, each exclusive of stock-based compensation.

Geographic data for long-lived assets (representing property and equipment, net) were as follows (in thousands):

As of
June 30,December 31,
20252024
United States$23,321 $25,686 
International4,346 3,801 
Total long-lived assets$27,667 $29,487