LifeStance Health Group, Inc.

Listed Company

LFSTCIK 0001845257NasdaqLarge AcceleratedServices-Health ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.42B

Net Income

$9.66M

Total Assets

$2.20B

Equity

$1.52B

Shares Out

389.78M

Op. Cash Flow

$146.15M

Business

LifeStance Health Group, Inc. operates a tech-enabled outpatient mental healthcare platform that delivers multidisciplinary clinical services. Its primary services include psychiatric evaluations and treatment, psychological and neuropsychological testing, and individual, family and group therapy delivered through integrated virtual and in-person care supported by digital tools. The company operates through wholly‑owned centers and supported practices, employing clinicians via subsidiaries or managing centers under long‑term management services contracts and partnering with payors, physicians and employers. It provides care across the United States via a hybrid delivery model of physical centers and an online platform, with access facilitated through in‑network payor contracts and physician referrals.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
TOTAL REVENUE	1,424	1,251	1,056	860	668
Center costs, excluding depreciation and amortization shown separately below	963	849	754	623	—
General and administrative expenses	382	363	411	378	434
Depreciation and amortization	55	71	80	69	54
Total operating expenses	1,400	1,283	1,245	1,070	954
INCOME (LOSS) FROM OPERATIONS	24	−32	−189	−210	−286
Gain on remeasurement of contingent consideration	0	2	4	−2	−3
Transaction costs	0	−827,000	−89,000	−722,000	−4
Interest expense, net	−12	−27	−21	−20	—
Other expense	−123,000	−363,000	−112,000	−218,000	−1
Total other expense	−12	−26	−17	−23	−47
INCOME (LOSS) BEFORE INCOME TAXES	12	−58	−207	−233	−333
INCOME TAX (PROVISION) BENEFIT	−3	170,000	20	17	26
NET INCOME (LOSS)	10	−57	−186	−216	−307
EARNINGS (LOSS) PER SHARE, Basic	0.03	−0.15	−0.51	−0.61	−1.05
EARNINGS (LOSS) PER SHARE, Diluted	0.02	−0.15	−0.51	−0.61	−1.05
Weighted-average shares outstanding - Basic	386	379	367	355	327,523
Weighted-average shares outstanding - Diluted	391	379	367	355	327,523
Unrealized losses on cash flow hedge, net of tax	−929,000	−1	−971,000	3	0
COMPREHENSIVE INCOME (LOSS)	9	−59	−187	−212	−307

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	249	155	79	109	148
Patient accounts receivable, net	96	132	125	101	76
Prepaid expenses and other current assets	72	26	22	24	42
Total current assets	416	313	226	233	267
Property and equipment, net	162	166	188	194	152
Right-of-use assets	150	148	171	199	0
Intangible assets, net	178	191	221	263	300
Goodwill	1,293	1,293	1,293	1,273	1,205
Other noncurrent assets	5	8	11	11	3
Total noncurrent assets	1,788	1,806	1,884	1,941	1,661
Total assets	2,204	2,118	2,110	2,174	1,927
Accounts payable	6	7	7	12	14
Accrued payroll expenses	143	117	102	76	60
Other accrued expenses	42	47	35	30	27
Operating lease liabilities, current	46	49	46	39	0
Other current liabilities	15	8	4	3	2
Total current liabilities	252	229	203	176	117
Long-term debt, net	266	280	280	225	157
Operating lease liabilities, noncurrent	149	149	181	213	0
Deferred tax liability, net	16	14	16	39	54
Other noncurrent liabilities	68,000	309,000	952,000	3	54
Total noncurrent liabilities	431	443	478	479	265
Total liabilities	683	672	681	655	382
COMMITMENT AND CONTINGENCIES (see Note 12)	—	—	—	—	—
Preferred stock - par value $0.01 per share; 25,000 shares authorized as of December 31, 2025 and December 31, 2024; 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock - par value $0.01 per share; 800,000 shares authorized as of December 31, 2025 and December 31, 2024; 388,318 and 382,735 shares issued and outstanding as of December 31, 2025 and December 31, 2024 ,respectively	4	4	4	4	4
Additional paid-in capital	2,326	2,260	2,184	2,084	1,898
Accumulated other comprehensive income	0	929,000	2	3	0
Accumulated deficit	−809	−818	−761	−573	−357
Total stockholders' equity	1,521	1,446	1,429	1,519	1,545
Total liabilities and stockholders' equity	2,204	2,118	2,110	2,174	1,927

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	10	−57	−186	−216	−307
Non-cash operating lease costs	42	40	40	38	0
Stock-based compensation	75	76	99	187	259
Deferred income taxes	2	−958,000	−22	−17	−27
Loss on debt extinguishment	0	5	0	3	14
Amortization of discount and debt issue costs	1	2	2	2	2
Gain on remeasurement of contingent consideration	0	−2	−4	2	3
Other, net	2	1	7	218,000	0
Patient accounts receivable, net	36	−6	−24	−22	−24
Prepaid expenses and other current assets	−47	−3	−3	−3	−29
Accounts payable	−2	501,000	−6	8	623,000
Accrued payroll expenses	26	15	26	12	15
Operating lease liabilities	−48	−47	−38	−13	0
Other accrued expenses	−6	14	10	2	40
Net cash provided by (used in) operating activities	146	107	−17	53	9
Purchases of property and equipment	−36	−22	−41	−79	−94
Acquisitions of businesses, net of cash acquired	0	0	−20	−60	−100
Net cash used in investing activities	−36	−22	−60	−139	−194
Proceeds from long-term debt, net of discount	0	288	58	257	99
Payments of debt issue costs	0	−2	−188,000	−7	−2
Payments of long-term debt	−7	−289	−2	−188	−311
Payments of contingent consideration	0	−6	−8	−13	−12
Taxes related to net share settlement of equity awards	−9	0	0	−904,000	0
Net cash (used in) provided by financing activities	−16	−10	47	47	314
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	94	76	−30	−39	129
Cash paid for interest, net	18	25	21	14	22
Cash paid for taxes, net of refunds	2	57,000	80,000	2	1
Contingent consideration incurred in acquisitions of businesses	0	0	2	11	11
Acquisition of property and equipment included in liabilities	3	1	4	8	16

Filings

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