2025 First Quarter Earnings Presentation May 6, 2025 2025 FIRST QUARTER EARNINGS PRESENTATION 2 Disclaimer $64 54% $39 34% Revenue1 Composition USD, Millions PAYOR DTE CONSUMER Gross Profit and % Margin USD, Millions (1) Revenue is presented on an as-reported basis. This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this presentation that do not relate to maers of historical fact sh ...

Group 1 - The core thesis for LifeStance Health Group (NASDAQ: LFST) is based on the growing demand in the industry, which the company is positioned to capitalize on [1] - The investment approach emphasizes identifying undervalued companies with long-term growth potential, focusing on quality companies purchased at a discount to their intrinsic value [1] Group 2 - The article does not provide any specific financial data or performance metrics related to LifeStance Health Group or the industry [2][3]

Investment Rating - The report does not explicitly provide an investment rating for the mental health industry Core Insights - The mental health landscape shows a significant portion of adults in both the U.S. and Mexico rating their mental health positively, with approximately three-quarters assessing it as 'excellent' or 'good' [8][10] - There is a notable generational divide, with Gen Z and Millennials reporting lower self-rated mental health compared to older generations [8][13] - Mental health impacts work and personal relationships for about 30% of respondents, with U.S. Gen Z individuals being particularly affected [27][31] Summary by Sections Background & Methodology - The study conducted by ThinkNow involved a nationally representative sample of adults in the U.S. and Mexico, utilizing online surveys to gather data [3][4] Key Findings - Around 75% of adults in both countries rate their mental health positively, with U.S. Hispanics showing a slightly higher positive rating at 79% [10] - Self-care activities are practiced by about half of the respondents, with exercise being the most common, and other activities like meditation and journaling being more prevalent in the U.S. [8][41] - Accessibility to mental health services varies, with nearly 30% of U.S. respondents reporting a professional diagnosis of a mental health condition, compared to under 20% in Mexico [17][18] Detailed Findings - Gen Z and Millennials in the U.S. are more critical of their mental health than their Mexican counterparts, with significant differences in comfort levels discussing mental health with professionals [20][24] - The most common community resources available include counseling centers, online resources, and support groups, with crisis intervention services being less common in Mexico [48][50] Self-Care and Information Seeking - About half of respondents in both countries have engaged in self-care activities, with a higher engagement among younger generations [36][38] - Social media is a primary source of mental health information for Mexicans, while Americans are more likely to consult mental health websites and personal doctors [44][46]

Core Insights - Slingshot AI is a mental health startup focused on using AI to enhance accessibility to psychological services through its application, Ash, which aims to help users manage emotions and improve relationships [2][3] - The founders, Daniel Cahn and Neil Parikh, emphasize the potential of AI in modeling human thought processes and addressing the growing demand for mental health support [3][4] Company Background and Unique Advantages - Daniel Cahn has a background in training generative models and is influenced by his family's involvement in psychology and social work, leading to his interest in AI applications in mental health [3] - Neil Parikh, initially on a path to become a doctor, shifted focus to entrepreneurship in healthcare, recognizing limited innovation opportunities in traditional medical education [3][4] AI Model Development and Application - The company focuses on three main areas: pre-training, fine-tuning, and alignment of AI models to enhance user experience and therapeutic effectiveness [7][11] - Slingshot AI aims to model psychological processes using language models, which can generate realistic interactions and help in therapy [5][6] Market Demand and User Engagement - The existing demand for AI-driven mental health solutions is significant, as users are turning to general AI models for therapy, indicating a shortage of accessible mental health resources [6][7] - The company measures success through user autonomy, competence, and connection, aiming to empower users rather than dictate solutions [7][21] Voice Interaction and User Experience - Slingshot AI is exploring voice interaction to create engaging user experiences, acknowledging the complexities involved in natural language processing and real-time dialogue [14][16] - Different user demographics show preferences for text versus voice interactions, with older users favoring voice and younger users preferring text [17] Success Measurement in Therapy - The effectiveness of therapy is determined by user feedback and their emotional responses, rather than predefined metrics set by the company [18][20] - The company believes that users should define what constitutes successful therapy, aligning with self-determination theory [21][31] Future Vision and Integration with Healthcare - Slingshot AI envisions a collaborative future where AI assists in addressing non-clinical mental health issues, complementing the work of human therapists [22][23] - The company aims to integrate into existing healthcare systems while also exploring independent business models, drawing inspiration from successful companies like BetterHelp [26][27] Challenges and Opportunities in the Market - The current healthcare reimbursement models may need to adapt to accommodate AI-driven services, as traditional models are based on in-person consultations [27][28] - The company sees potential for significant cost reductions in mental health services through AI, making therapy more accessible [28]