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Goodwill
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
Goodwill consisted of the following (in thousands):

Integrated
Care		BetterHelpTotal
Balance as of December 31, 2022 and 2023$— $1,073,190 $1,073,190 
Impairments— (790,000)(790,000)
Balance as of December 31, 2024— 283,190 283,190 
Additions associated with business combinations71,763 — 71,763 
Impairments(71,763)— (71,763)
Balance as of December 31, 2025$— $283,190 $283,190 

Goodwill as of December 31, 2025 is net of accumulated impairment charges of $14.3 billion, of which $12.3 billion was recognized prior to the Company reorganizing its reporting structure to include two reportable segments, $1.2 billion was recognized on the goodwill assigned to the Integrated Care segment, and $0.8 billion was recognized on the goodwill assigned to the BetterHelp segment.

As a result of sustained decreases in the Company’s publicly quoted share price and market capitalization as well as changes in the operating results of the BetterHelp reporting unit, the Company conducted an interim test of its goodwill, definite-lived intangibles, and other long-lived assets at June 30, 2024. Following this test, the Company did not identify an impairment to its definite-lived intangible assets or other long-lived assets, but recorded a $790.0 million non-deductible, non-cash goodwill impairment charge in the year ended December 31, 2024.

The Company’s June 30, 2024 goodwill impairment testing was performed using a discounted cash flow method under the income approach. Unlike in prior testing, the Company did not utilize the market approach because of limited availability of relevant comparable company information. The Company believes using only the income approach for this
impairment test was appropriate as it most directly reflects its future growth and profitability expectations. For the Company’s June 30, 2024 impairment testing, the Company reduced its estimated future cash flows related to its BetterHelp reporting unit used in the impairment assessment, including revenues and margin, to reflect its best and most recent estimates at this time. The Company also updated certain significant inputs into the valuation models including the discount rate, which increased to 15%, reflecting, in part, higher interest rates. The Company’s updates to its discount rate and estimated future cash flows each had a significant impact to the estimated fair value of the reporting unit.

Concurrent with the closing of its acquisitions of Telecare and Catapult Health, the Company performed goodwill impairment tests on its Integrated Care reporting unit and determined that the carrying value of the reporting unit continued to exceed its fair value. As a result, the Company recognized immediate impairments of $12.6 million and $59.1 million of goodwill associated with the Telecare and Catapult Health acquisitions in the three months ended September 30, and March 31, 2025, respectively, reflecting a total of $71.8 million in 2025.

At October 1, 2025, the Company performed its annual test of goodwill impairment using a discounted cash flow method under the income approach similar to previous impairment tests described above. The Company determined that the BetterHelp reporting unit’s fair value exceeded its carrying value, while the Integrated Care reporting unit’s fair value approximated its carrying value. Since the BetterHelp reporting unit's fair value exceeded its carrying value and the Integrated Care reporting unit carried no goodwill at October 1, 2025, no impairment was recorded. If the carrying value of the Integrated Care reporting unit exceeds its fair value as of the date of any future business combinations, the future business combinations that would be part of the Integrated Care reporting unit could result in further goodwill impairment charges.

In the period following December 31, 2025, there has been a decline in the Company’s market capitalization, based upon its publicly quoted share price, below its carrying or book value. If this decline in the share price is sustained, it could require further testing of goodwill in its next reporting period, which may result in an impairment. Absent changes to projected cash flows, the Company would reassess the discount rate to reflect the market’s perception of risks to achieving its projected cash flows and other economic factors. Those factors alone, or in combination with other factors, could cause the carrying value to exceed the fair value, resulting in impairment.