📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

LifeStance Health Group, Inc., through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding LFST

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	800.5K	$5.1M	0.01%	Mar 2026
Steve Cohen Point72 Asset Management	742.7K	$4.7M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly stated they met or exceeded all guided metrics, provided specific numbers for clinician adds, revenue growth, and EBITDA, and raised full-year guidance. Language such as 'I'm incredibly proud' and 'exceptionally strong free cash flow' reinforces confidence.

Q3 2025

Confident Specific

Management uses superlatives like 'record', 'exceptional', 'highest since going public' and provides concrete figures (17% organic visit growth, $40M adjusted EBITDA, 288 organic clinician adds). Tone is forward-looking and decisive about initiatives driving durability.

Q4 2025

Confident Specific

Management uses strong positive language ('exceptional year', 'outperformed', 'milestones', 'record') and provides specific numeric achievements (revenue $1.424B, Adjusted EBITDA 11.1%, free cash flow $110M) and forward guidance with detailed numbers (FY2026 revenue $1.615-1.655B), demonstrating high conviction.

Q1 2026 latest

Confident Specific

Language like 'exceptional start', 'exceeded our expectations', 'raising our full year guidance across all metrics', and 'very strong' demonstrates conviction and specificity about operational and financial results.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after Q1 2026. Revenue, EBITDA, and cash flow all topped expectations, prompting upward guidance revisions across every metric. Clinician productivity gains are sustained for a third quarter, supporting efficient scaling. The return to M&A and balanced de novo expansion shows management executing on its growth playbook. Technology investments, notably AI and a new EHR, promise further margin leverage. Key watch items: ability to maintain 11%+ clinician growth while retaining productivity momentum, managed care rate execution in the back half, and any disruption from the EHR transition. Overall, the call reinforces confidence in the mid-teens revenue growth and 2028 margin target.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED LifeStance Health: Q1 revenue up 21% to $403M, adjusted EBITDA up 48% to $51M

Revenue & Profitability

LifeStance reported Q1 2026 revenue of $403 million, up 21% year-over-year. Net income was $14 million, compared to $1 million in the prior year. Adjusted EBITDA was $51 million, a 48% increase, with a margin of 12.7%. Center margin was $136 million, or 33.7% of revenue. Free cash flow was $22 million.

Outlook

Management sees strong and growing demand for high-quality mental health care, with a shift from cash-pay to insurance coverage as patients seek affordable solutions. LifeStance expects to benefit from these macro trends. No headwinds were discussed; the environment is characterized as highly fragmented and early in consolidation.

Growth Drivers

Key growth levers include net clinician adds (309 added in Q1, 11% growth) and clinician productivity initiatives (7% year-over-year improvement in visits per clinician). Geographic expansion via tuck-in M&A and de novo centers (20-30 planned for 2026) is another driver. Specialty services (TMS, Spravato, neuropsych testing) are expected to grow 40% to $70 million in 2026.

Balance Sheet & CapEx

Not discussed in this earnings call. However, management noted low capital intensity for specialty services due to leveraging existing centers. Share repurchases of $49 million were deployed in Q1, and the company has $195 million in cash.

Margins

Center margin was 33.7% of revenue in Q1, up 130 basis points year-over-year. Adjusted EBITDA margin was 12.7%. Full-year 2026 guidance implies continued margin expansion, with adjusted EBITDA margin expected to exceed 12.7% at the midpoint. Long-term, LifeStance targets mid-teens adjusted EBITDA margins by full year 2028 and 15-20% ultimately.

Key Risks

Not discussed in this earnings call. In Q&A, analysts raised topics such as sustainability of clinician productivity improvements, clinician retention, and potential headwinds from lapping prior-year pricing impacts. Management expressed confidence in the durability of initiatives and the constructive payer environment.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Revenue grew 26% to $435M with adjusted EBITDA margin over 15% and net income of $24M. Guidance was raised across all metrics, driven by strong clinician growth, productivity, and specialty services expansion. Investments in technology, clinical excellence, and M&A support long-term growth.

Q1 2026 Q1 2026 2026-05-07

Revenue grew 21% to $403M with adjusted EBITDA up 48% and net income at $14M. Clinician base and productivity rose, driving raised full-year guidance. Technology and AI investments, strong specialty growth, and robust cash flow position the company for continued expansion.

Q4 2025 Q4 2025 2026-02-25

Delivered double-digit revenue and visit growth in 2025, surpassing all guidance metrics and achieving record Adjusted EBITDA margins. 2026 outlook projects continued strong growth, margin expansion, and significant investments in technology and specialty services.

Q3 2025 Q3 2025 2025-11-06

Record visit and clinician growth drove 16% revenue and 31% adjusted EBITDA increases year-over-year, with positive net income and margin expansion. Guidance for 2025 and 2026 remains strong, supported by operational efficiencies, tech investments, and strategic partnerships.

Q2 2025 Q2 2025 2025-08-07

Q2 delivered double-digit revenue growth, record free cash flow, and margin expansion, driven by clinician growth and productivity initiatives. Full-year guidance for adjusted EBITDA and margins was raised, with strong liquidity and a robust M&A pipeline supporting future growth.

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Investment Risk:
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