v3.26.3
Segments
 9 Months Ended
Sep. 30, 2026
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; legal settlement costs and recoveries, net; 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, including both those who pay directly out-of-pocket and those who utilize their insurance coverage.

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 September 30, 2026Integrated CareBetterHelpConsolidated
Revenue$398,461 $206,641 $605,102 
Cost of revenue, exclusive of depreciation, amortization, and stock-based compensation (1)128,677 61,478 
Advertising and marketing, exclusive of stock-based compensation (1)24,737 98,769 
Other segment expenses (2)170,166 41,917 
Adjusted EBITDA$74,881 $4,477 79,358 
Less adjustments to reconcile to consolidated net loss:
Stock-based compensation11,616 
Legal settlement costs and recoveries, net(600)
Acquisition, integration, and transformation costs1,565 
Restructuring costs4,404 
Amortization of intangible assets88,286 
Depreciation of property and equipment2,186 
Other expense (income), net285 
Interest expense4,935 
Interest income(7,040)
Loss before provision for income taxes(26,279)
Provision for income taxes655 
Net loss$(26,934)

Three Months Ended September 30, 2025Integrated CareBetterHelpConsolidated
Revenue$389,538 $236,901 $626,439 
Cost of revenue, exclusive of depreciation, amortization, and stock-based compensation (1)124,254 62,417 
Advertising and marketing, exclusive of stock-based compensation (1)32,302 134,599 
Other segment expenses (2)166,914 36,044 
Adjusted EBITDA$66,068 $3,841 69,909 
Less adjustments to reconcile to consolidated net loss:
Stock-based compensation16,996 
Goodwill impairment12,625 
Acquisition, integration, and transformation costs1,931 
Restructuring costs1,950 
Amortization of intangible assets85,757 
Depreciation of property and equipment2,612 
Other expense (income), net815 
Interest expense4,526 
Interest income(7,081)
Loss before provision for income taxes(50,222)
Provision for income taxes(715)
Net loss$(49,507)
Nine Months Ended September 30, 2026Integrated CareBetterHelpConsolidated
Revenue$1,188,211 $637,663 $1,825,874 
Cost of revenue, exclusive of depreciation, amortization, and stock-based compensation (1)394,454 183,593 
Advertising and marketing, exclusive of stock-based compensation (1)89,910 327,235 
Other segment expenses (2)507,447 119,995 
Adjusted EBITDA$196,400 $6,840 203,240 
Less adjustments to reconcile to consolidated net loss:
Stock-based compensation35,528 
Legal settlement costs and recoveries, net(600)
Acquisition, integration, and transformation costs4,319 
Restructuring costs17,283 
Amortization of intangible assets266,554 
Depreciation of property and equipment7,115 
Other expense (income), net2,672 
Interest expense15,412 
Interest income(20,011)
Loss before provision for income taxes(125,032)
Provision for income taxes4,647 
Net loss$(129,679)

Nine Months Ended September 30, 2025Integrated CareBetterHelpConsolidated
Revenue$1,170,516 $717,192 $1,887,708 
Cost of revenue, exclusive of depreciation, amortization, and stock-based compensation (1)381,649 191,308 
Advertising and marketing, exclusive of stock-based compensation (1)97,965 401,863 
Other segment expenses (2)517,005 100,605 
Adjusted EBITDA$173,897 $23,416 197,313 
Less adjustments to reconcile to consolidated net loss:
Stock-based compensation64,503 
Goodwill impairment71,763 
Acquisition, integration, and transformation costs6,777 
Restructuring costs11,989 
Amortization of intangible assets258,725 
Depreciation of property and equipment10,514 
Other expense (income), net(9,991)
Interest expense14,764 
Interest income(29,819)
Loss before provision for income taxes(201,912)
Provision for income taxes(26,733)
Net loss$(175,179)
(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 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
September 30,December 31,
20262025
United States$18,955 $22,796 
International5,451 4,176 
Total long-lived assets$24,406 $26,972