LifeStance Reports First Quarter 2025 Results

Core Insights - LifeStance Health Group, Inc. reported a solid financial performance for Q1 2025, achieving positive net income for the first time as a public company, driven by increased visit volumes and clinician growth [3][6][7]. Financial Highlights - Total revenue for Q1 2025 was $333.0 million, an increase of 11% compared to $300.4 million in Q1 2024 [4][7]. - Income from operations was $1.6 million, a significant improvement from a loss of $16.8 million in the prior year [4][7]. - Net income reached $0.7 million, compared to a net loss of $21.1 million in Q1 2024, marking a 103% improvement [4][7]. - Adjusted EBITDA increased by 25% to $34.6 million, representing 10.4% of total revenue [4][7]. Operational Metrics - The clinician base grew by 10% to 7,535 clinicians, with a net increase of 152 clinicians in Q1 2025 [6]. - Visit volumes increased by 10% to 2.1 million in the first quarter [6]. - Center Margin rose by 16% to $109.8 million, accounting for 33.0% of total revenue [4][7]. Balance Sheet and Cash Flow - As of March 31, 2025, LifeStance had cash of $134.3 million and net long-term debt of $276.3 million [5]. - The company used $3.1 million in cash flow from operations during the first quarter [5][6]. 2025 Guidance - LifeStance expects full-year revenue to be between $1.40 billion and $1.44 billion, with a Center Margin of $440 million to $464 million, and Adjusted EBITDA of $130 million to $150 million [6][12]. - For Q2 2025, the company anticipates total revenue between $332 million and $352 million [12].