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Dec 31, 2025
LifeStance Q4 2025 Earnings Report
LifeStance reported strong fourth quarter 2025 results with double-digit revenue growth, improved profitability, and strong cash generation.
Key Takeaways
LifeStance generated fourth quarter 2025 revenue of 382200000, up 17% year-over-year, driven by 18% growth in visit volumes and clinician expansion to 8040. Net income was 11700000 and Adjusted EBITDA increased 49% to 48800000, reflecting operating leverage and margin expansion.
Revenue increased 17% year-over-year to 382200000.
Visit volumes grew 18% to 2400000, supported by clinician growth.
Net income improved to 11700000 from a prior-year loss.
Adjusted EBITDA rose 49% to 48800000 with margin expanding to 12.8%.
Forward Guidance
For full year 2026, LifeStance expects revenue of 1615000000 to 1655000000, Center Margin of 526000000 to 550000000, and Adjusted EBITDA of 185000000 to 205000000.
Positive Outlook
- Revenue expected between 1615000000 and 1655000000.
- Center Margin expected between 526000000 and 550000000.
- Adjusted EBITDA expected between 185000000 and 205000000.
- Continued clinician growth momentum.
- Strong operating leverage and productivity improvements.
Challenges Ahead
- Guidance subject to reimbursement rate pressures.
- Growth dependent on clinician recruitment and retention.
- Exposure to regulatory and healthcare industry changes.
- Interest expense continues to impact net income.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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