LifeStance Health Group Inc · Q2 2022 earnings

Briefing

LifeStance reported solid results, with revenue growth driven by an increase in total clinicians. Profitability remained consistent with expectations.

LifeStance Health Group reported a 31% increase in revenue to $209.5 million. The company's net loss was $68.7 million, and Adjusted EBITDA was $14.6 million. The company is expecting full year 2022 revenue and Center Margin toward the bottom end of the previously guided ranges of $865 million to $885 million and $240 million to $255 million, respectively, due to refined clinician seasonality assumptions; reaffirming Adjusted EBITDA guidance of $63 million to $67 million.

• Revenue increased by 31% to $209.5 million compared to the prior year.
• Total clinicians increased by 31% to 5,226, a net increase of 237 in the second quarter.
• Net loss was $68.7 million, impacted by stock-based compensation expense.
• Adjusted EBITDA was $14.6 million, remaining relatively flat compared to the prior year.

Headline financials

Revenue & EPS history

LifeStance now expects full year 2022 revenue and Center Margin toward the bottom end of the previously guided ranges of $865 million to $885 million and $240 million to $255 million, respectively. LifeStance is reaffirming full year 2022 Adjusted EBITDA guidance of $63 million to $67 million. For the third quarter of 2022, the company expects revenue of $216 million to $221 million, Center Margin of $61 million to $65 million, and Adjusted EBITDA of $16 million to $19 million.