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Sep 30, 2024
LifeStance Q3 2024 Earnings Report
LifeStance's Q3 2024 performance exceeded expectations, driven by revenue growth and improved profitability.
Key Takeaways
LifeStance Health Group reported a 19% increase in revenue to $312.7 million for Q3 2024. The company's net loss significantly improved to $6.0 million, and Adjusted EBITDA increased by 110% to $30.7 million. LifeStance also raised its full-year 2024 revenue and Adjusted EBITDA expectations.
Revenue increased by 19% to $312.7 million.
The clinician base grew by 13% to 7,269 clinicians.
Net loss improved to $6.0 million from $61.6 million.
Adjusted EBITDA increased by 110% to $30.7 million.
LifeStance
LifeStance
Forward Guidance
LifeStance raised its full year revenue to $1.228 billion to $1.248 billion; raising Center Margin to $382 million to $398 million; and raising Adjusted EBITDA to $105 million to $115 million. Additionally, the Company continues to expect to generate positive Free Cash Flow for the full year. For the fourth quarter of 2024, the Company expects total revenue of $302.5 million to $322.5 million, Center Margin of $89 million to $105 million, and Adjusted EBITDA of $18 million to $28 million.
Positive Outlook
- Raising full year revenue to $1.228 billion to $1.248 billion
- Raising Center Margin to $382 million to $398 million
- Raising Adjusted EBITDA to $105 million to $115 million
- Continue to expect to generate positive Free Cash Flow for the full year
- Expect total revenue of $302.5 million to $322.5 million for Q4 2024
Challenges Ahead
- Center Margin of $89 million to $105 million
- Adjusted EBITDA of $18 million to $28 million
- Potential rate pressure
- Competition in the mental healthcare industry
- Dependence on relationships with supported practices