LifeStance Reports Third Quarter 2025 Results

Core Insights - LifeStance Health Group, Inc. reported a record-breaking third quarter for 2025, achieving 17% organic visit growth and positive net income of $1 million, alongside an Adjusted EBITDA of $40 million with 11% margins, indicating strong operational performance and improved productivity [3][4][6]. Financial Highlights - Total revenue for Q3 2025 reached $363.8 million, a 16% increase from $312.7 million in Q3 2024 [4][6]. - Income from operations was $7.4 million, compared to a break-even result in Q3 2024 [4][6]. - Center Margin grew 16% to $116.6 million, representing 32.0% of total revenue [4][6]. - Net income was $1.1 million, a significant turnaround from a net loss of $6.0 million in the previous year [4][6]. - Adjusted EBITDA increased by 31% to $40.2 million, reflecting improved operating leverage [4][6]. Operational Metrics - The clinician base expanded by 11% to approximately 8,000, with a net increase of 288 clinicians in Q3 2025 [5][6]. - Visit volumes increased by 17% to 2.3 million in the third quarter [5][6]. - Cash flow from operations for the nine months ended September 30, 2025, was $88.6 million, including $27.3 million in Q3 [5][6]. 2025 Guidance - The company reiterated its revenue expectations for the full year 2025, projecting between $1.41 billion and $1.43 billion, while raising midpoint expectations for Center Margin to between $448 million and $462 million [12][5]. - Adjusted EBITDA expectations for 2025 were also raised to a range of $146 million to $152 million [12][5]. - For Q4 2025, total revenue is expected to be between $368 million and $388 million, with Center Margin projected at $113 million to $127 million [12].