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Jun 30, 2024
LifeStance Q2 2024 Earnings Report
LifeStance reported a revenue increase of 20%, a net loss reduction, and raised full year 2024 expectations.
Key Takeaways
LifeStance Health Group reported a 20% increase in revenue to $312.3 million for Q2 2024. The company's net loss decreased from $45.5 million to $23.3 million. Adjusted EBITDA increased 103% to $28.6 million. The company is raising full year 2024 revenue expectations to $1.2 billion to $1.242 billion and expects positive Free Cash Flow.
Revenue increased 20% to $312.3 million.
The clinician base increased 14% to 6,984 clinicians.
Second quarter visit volumes increased 15% to 2.0 million.
Adjusted EBITDA increased 103% to $28.6 million.
LifeStance
LifeStance
Forward Guidance
LifeStance is raising full year revenue to $1.2 billion to $1.242 billion; raising Center Margin to $363 million to $383 million; and raising Adjusted EBITDA to $90 million to $100 million. Additionally, the Company continues to expect to generate positive Free Cash Flow for the full year. For the third quarter of 2024, the Company expects total revenue of $290 million to $310 million, Center Margin of $83 million to $95 million, and Adjusted EBITDA of $15 million to $21 million.
Positive Outlook
- Raising full year revenue guidance to $1.2 billion - $1.242 billion.
- Raising Center Margin guidance to $363 million - $383 million.
- Raising Adjusted EBITDA guidance to $90 million - $100 million.
- Reiterating expectations for positive Free Cash Flow for the full year.
- Expecting Q3 2024 revenue of $290 million - $310 million.
Challenges Ahead
- Expecting Q3 2024 Center Margin of $83 million - $95 million.
- Expecting Q3 2024 Adjusted EBITDA of $15 million - $21 million.
- Uncertainty in achieving the raised guidance.
- Potential impact of external factors on financial performance.
- Dependence on successful execution of business strategies for achieving guidance.