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Jun 30, 2021
LifeStance Q2 2021 Earnings Report
LifeStance reported strong performance with significant revenue growth and strategic expansions.
Key Takeaways
LifeStance Health Group, Inc. reported a strong second quarter with a 91% increase in revenue compared to the previous year. The company successfully completed its IPO and is focused on expanding access to mental health care services, adding clinicians, and opening new centers.
Revenue increased by 91% year over year, reaching $160.5 million.
Total clinicians increased by 94% year over year, with 674 net clinician adds in the second quarter.
Net loss was $70.0 million.
Adjusted EBITDA increased by 39% year over year, reaching $14.5 million.
LifeStance
LifeStance
Forward Guidance
LifeStance Health initiated its financial guidance for 2021, expecting revenue between $668 million and $678 million, center margin between $198 million and $208 million, and adjusted EBITDA between $47 million and $53 million.
Positive Outlook
- Revenue growth driven by new clinician hiring and center additions.
- Strong performance in the inaugural quarter as a public company.
- Focus on expanding access to mental health care services.
- Continued growth in revenue and clinician base.
- Investments in infrastructure and operations to support long-term growth opportunities.
Challenges Ahead
- Change in clinician retention levels consistent with the broader healthcare industry.
- Full-year guidance does not assume material changes in the COVID-19 pandemic.
- Full-year guidance does not assume material changes in the current labor market conditions.
- Loss from operations was $47.0 million, driven by stock and unit-based compensation and IPO-related expenses.
- Net loss was $70.0 million.