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• Debt Reduction and Liquidity • The company completed a debt prepayment that reduced term loan principal by $41.4 million, generating a $4.6 million gain on the transaction • Annual interest expense is lowered by approximately $4 million following the prepayment • The outstanding term loan balance now stands at $423.6 million, a reduction of more than 70% from the $1.6 billion balance carried before the company's financial reorganization • The company retains sufficient liquidity to invest in strategic priorities while continuing proactive paydown of remaining debt

• Business Progress and Mix Shift • A more disciplined operating model has demonstrated clear earnings power in the second quarter • The company is making solid progress toward its targeted higher-value business mix shift • Core Plus (behavioral segment) has delivered three consecutive quarters of sequential subscriber growth • Clinical subscription revenue continues to grow as a share of total company revenue • The business now has a stronger financial foundation with a meaningfully reduced debt load • Positive operating cash flow is expected to support ongoing strategic investment in the company's transformation

• Seasonal Marketing Cadence • Q3 is typically the company's lowest quarter for annual marketing spend • Marketing spending will ramp up in Q4 ahead of the annual peak season, consistent with the company's historical seasonal cadence

• The company reaffirms its full-year 2026 guidance, with total revenue targeted between $620 million and $635 million, and adjusted EBITDA targeted between $105 million and $115 million
• Clinical subscription revenue is expected to account for 25% to 30% of 2026 total revenue, up from 15.9% in full-year 2025
• 2026 adjusted gross margin is expected to see a modest decline versus 2025, but will remain above 72%
• 2026 marketing expense as a percentage of revenue is expected to increase modestly compared to 2025, with second half marketing spend lower than first half spend
• Product development spending is expected to remain near the Q2 2026 quarterly run rate for the remainder of the year
• The company expects to generate positive full-year 2026 operating cash flow
• Full-year 2026 interest costs are projected between $45 million and $50 million, reflecting lower quarterly interest following the Q2 2026 debt prepayment
• Quarterly capitalized software and development spending is expected to stay in line with the Q2 2026 run rate
• 2026 cash taxes are projected between $5 million and $10 million
• Within the behavioral segment, continued year-over-year growth in Core Plus subscribers is expected, alongside continued moderation in the year-over-year rate of end-of-period behavioral subscriber decline

No detailed segment-level financial performance (revenue, absolute performance or revenue contribution percentage for individual product segments) was provided in the released earning call transcript. The only segment-related data noted is that clinical subscription revenue made up 15.9% of total revenue for full-year 2025, and is targeted to reach 25% to 30% of total 2026 revenue. The call also noted that the Core Plus behavioral health product has achieved three consecutive quarters of sequential subscriber growth, with moderation in the year-over-year rate of total behavioral subscriber decline, but no absolute financial figures for any segment were disclosed.

No explicit discussion of business risks or operational failures was included in the provided earning call transcript.

No questions were submitted by call participants during the designated Q&A portion of the earning call, so no exchanges took place.