NASDAQ$LFST

LifeStance Health Group Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

LifeStance reported a 21% increase in revenue, driven by increased visit volumes, and made progress in streamlining the business.

LifeStance Health Group, Inc. reported a 21% increase in fourth-quarter revenue to $229.4 million. The company's clinician base grew by 18% to 5,631, with 200 net clinician additions in the fourth quarter. The company is focused on streamlining and standardizing its business to pave the way for profitable and sustainable growth.

  • Fourth quarter revenue increased 21% to $229.4 million.
  • The clinician base increased 18% to 5,631 clinicians, including 200 net clinician adds in the fourth quarter.
  • Net loss of $46.7 million in the fourth quarter, primarily driven by stock and unit-based compensation.
  • Adjusted EBITDA of positive $10.2 million in the fourth quarter.

Headline financials

Total Revenue

$229M

Previous: $190M+20.7%
EPS (adj)

-$0.13

Previous: -$0.32+59.4%
Clinicians

5.6K

Previous: 4.8K+17.6%
Net Income

-$46.7M

Previous: -$108M+56.8%
Operating Income

-$46M

Previous: -$114M+59.6%
Gross Profit

$237M

No prior period
Cash & Equivalents

$109M

No prior period
Total Assets

$2.17B

No prior period

Revenue & EPS history

LifeStance · Revenue · Quarterly

$229M

Q4 2022+20.7%vs Q4 2021
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Forward guidance

LifeStance expects full year 2023 revenue of $980 million to $1.02 billion, Center Margin of $270 to $290 million, and Adjusted EBITDA of $50 to $62 million.

Tailwinds

  • Expecting full year 2023 revenue of $980 million to $1.02 billion
  • Expecting Center Margin of $270 to $290 million
  • Expecting Adjusted EBITDA of $50 to $62 million
  • The Company expects total revenue of $242 to $252 million for the first quarter of 2023
  • The Company expects Center Margin of $62 to $69 million for the first quarter of 2023

Headwinds

  • Expecting Adjusted EBITDA of $7 to $12 million for the first quarter of 2023
  • Focus remains on streamlining and standardizing our business over the next two years
  • Adjusted EBITDA as a percentage of revenue decreased as a result of higher-than-expected G&A expenses in the fourth quarter
  • Expecting Adjusted EBITDA of $50 to $62 million.
  • Expecting full year 2023 revenue of $980 million to $1.02 billion

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-4.5%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+1.2%

Avg return

30 days after

42%

8 / 19 earnings

Positive

+24.6%

Q4 2023

Best reaction

-49.7%

Q2 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+19.8%+7.7%+0.5%
Q4 2025+4.3%+0.0%-11.5%
Q3 2025-3.6%+29.1%+30.1%
Q1 2025-16.0%-10.7%-10.8%
Q4 2024+3.1%+6.8%-10.8%
Q3 2024+3.2%+3.8%+2.9%
Q2 2024+1.6%+6.0%+26.1%
Q1 2024-1.7%+5.9%-19.1%
Q4 2023+24.6%+21.8%-3.4%
Q3 2023-9.4%-8.9%+7.9%
Q2 2023-5.0%-7.4%-17.1%
Q1 2023-1.4%+1.1%+1.7%
Q4 2022+22.2%+23.8%+65.6%
Q3 2022-30.4%-15.9%-23.0%
Q2 2022+6.2%+10.8%+29.3%
Q1 2022-13.9%+0.4%+10.1%
Q4 2021-12.7%-5.9%+4.2%
Q3 2021-27.3%-22.8%-29.1%
Q2 2021-49.7%-40.6%-30.2%
Q1 2021
Q4 2020
Q3 2020
Q2 2020
Q1 2020

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