LifeStance Health Group (LFST) Financials

$7.36 +0.02 (+0.27%)

Closing price 04:00 PM Eastern

Extended Trading

$7.48 +0.12 (+1.62%)

As of 07:50 PM Eastern

Annual Income Statements for LifeStance Health Group

This table shows LifeStance Health Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-59	-344	-216	-186	-57	9.66
Consolidated Net Income / (Loss)	5.67	-307	-216	-186	-57	9.66
Net Income / (Loss) Continuing Operations	5.67	-307	-216	-186	-57	9.66
Total Pre-Tax Income	7.88	-333	-233	-207	-58	12
Total Operating Income	15	-286	-210	-189	-32	24
Total Gross Profit	213	668	860	1,056	1,251	1,424
Total Revenue	213	668	860	1,056	1,251	1,424
Operating Revenue	213	668	860	1,056	1,251	1,424
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	197	954	1,070	1,245	1,283	1,400
Selling, General & Admin Expense	191	900	378	411	363	382
Depreciation Expense	6.10	54	69	80	71	55
Other Operating Expenses / (Income)	-	-	623	754	849	963
Total Other Income / (Expense), net	-7.37	-47	-23	-17	-26	-12
Interest Expense	5.41	39	20	21	27	12
Other Income / (Expense), net	-1.96	-7.84	-2.63	3.77	0.54	-0.12
Income Tax Expense	2.21	-26	-17	-20	-0.17	2.70
Weighted Average Basic Shares Outstanding	0.00	327.52K	355.28M	367.46M	379.15M	386.02M
Diluted Earnings per Share	-	-	-	($0.51)	($0.15)	$0.02
Weighted Average Diluted Shares Outstanding	0.00	327.52K	355.28M	367.46M	379.15M	391.14M
Weighted Average Basic & Diluted Shares Outstanding	0.00	327.52K	376.37M	380.69M	384.55M	389.78M

This table shows LifeStance Health Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-45	-62	-45	-21	-23	-5.96	-7.11	0.71	-3.79	1.08	12
Consolidated Net Income / (Loss)	-45	-62	-45	-21	-23	-5.96	-7.11	0.71	-3.79	1.08	12
Net Income / (Loss) Continuing Operations	-45	-62	-45	-21	-23	-5.96	-7.11	0.71	-3.79	1.08	12
Total Pre-Tax Income	-52	-78	-38	-21	-23	-5.38	-8.88	-1.47	-5.94	4.57	15
Total Operating Income	-48	-74	-32	-17	-16	0.05	1.06	1.60	-2.95	7.41	18
Total Gross Profit	260	263	281	300	312	313	325	333	345	364	382
Total Revenue	260	263	281	300	312	313	325	333	345	364	382
Operating Revenue	260	263	281	300	312	313	325	333	345	364	382
Total Operating Expenses	308	337	313	317	328	313	324	331	348	356	364
Selling, General & Admin Expense	288	318	-463	89	95	85	-539	94	97	96	95
Depreciation Expense	20	20	22	23	19	15	15	14	14	14	13
Other Operating Expenses / (Income)	-	-	-	206	215	212	-	223	237	247	256
Total Other Income / (Expense), net	-3.61	-3.61	-6.05	-3.96	-6.67	-5.43	-9.94	-3.07	-2.99	-2.84	-2.88
Interest Expense	5.12	5.48	5.53	5.90	5.82	5.41	9.40	3.07	2.90	2.81	2.88
Other Income / (Expense), net	1.51	1.87	-0.51	1.94	-0.85	-0.02	-0.54	-0.00	-0.09	-0.02	-0.01
Income Tax Expense	-6.54	-16	6.64	0.36	0.66	0.58	-1.76	-2.18	-2.15	3.50	3.54
Weighted Average Basic Shares Outstanding	363.16M	372.48M	367.46M	376.33M	379.43M	380.36M	379.15M	383.27M	386.73M	386.96M	386.02M
Weighted Average Diluted Shares Outstanding	363.16M	372.48M	367.46M	376.33M	379.43M	380.36M	379.15M	390.67M	386.73M	388.90M	391.14M
Weighted Average Basic & Diluted Shares Outstanding	378.01M	378.61M	380.69M	382.29M	382.62M	382.64M	384.55M	388.88M	388.94M	389.00M	389.78M

This table details how cash moves in and out of LifeStance Health Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-7.86	129	-39	-30	76	94
Net Cash From Operating Activities	17	9.42	53	-17	107	146
Net Cash From Continuing Operating Activities	17	9.42	53	-17	107	146
Net Income / (Loss) Continuing Operations	5.67	-307	-216	-186	-57	9.66
Consolidated Net Income / (Loss)	5.67	-307	-216	-186	-57	9.66
Depreciation Expense	6.10	54	69	80	71	55
Amortization Expense	0.71	1.80	1.95	2.10	1.67	1.02
Non-Cash Adjustments To Reconcile Net Income	-0.18	285	231	142	120	119
Changes in Operating Assets and Liabilities, net	4.75	-25	-34	-56	-28	-38
Net Cash From Investing Activities	-73	-194	-139	-60	-22	-36
Net Cash From Continuing Investing Activities	-73	-194	-139	-60	-22	-36
Purchase of Property, Plant & Equipment	-14	-94	-79	-41	-22	-36
Acquisitions	-59	-100	-60	-20	0.00	0.00
Net Cash From Financing Activities	48	314	47	47	-9.95	-16
Net Cash From Continuing Financing Activities	48	314	47	47	-9.95	-16
Repayment of Debt	-2.45	-323	-197	-2.66	-291	-7.25
Issuance of Debt	56	99	257	58	288	0.00
Other Financing Activities, net	-5.02	-12	-13	-7.67	-6.44	-8.71
Cash Interest Paid	4.58	22	14	21	25	18
Cash Income Taxes Paid	0.25	1.09	2.24	0.08	0.06	1.57

This table details how cash moves in and out of LifeStance Health Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	11	-37	36	-29	38	16	52	-20	55	15	45
Net Cash From Operating Activities	-0.43	-25	17	-22	44	23	62	-3.09	64	27	58
Net Cash From Continuing Operating Activities	-0.43	-25	17	-22	44	23	62	-3.09	64	27	58
Net Income / (Loss) Continuing Operations	-45	-62	-45	-21	-23	-5.96	-7.11	0.71	-3.79	1.08	12
Consolidated Net Income / (Loss)	-45	-62	-45	-21	-23	-5.96	-7.11	0.71	-3.79	1.08	12
Depreciation Expense	20	20	22	23	19	15	15	14	14	14	13
Amortization Expense	0.53	0.52	0.51	0.42	0.42	0.42	0.40	0.25	0.26	0.26	0.26
Non-Cash Adjustments To Reconcile Net Income	44	32	33	28	35	26	32	29	32	30	28
Changes in Operating Assets and Liabilities, net	-19	-16	5.90	-52	14	-12	22	-47	22	-17	4.27
Net Cash From Investing Activities	-12	-9.80	-11	-5.10	-5.11	-5.05	-6.30	-7.17	-7.76	-10	-11
Net Cash From Continuing Investing Activities	-12	-9.80	-11	-5.10	-5.11	-5.05	-6.30	-7.17	-7.76	-10	-11
Purchase of Property, Plant & Equipment	-12	-9.80	-11	-5.10	-5.11	-5.05	-6.30	-7.17	-7.76	-10	-11
Net Cash From Financing Activities	23	-1.85	31	-2.43	-1.43	-2.03	-4.06	-9.98	-2.05	-2.02	-1.91
Net Cash From Continuing Financing Activities	23	-1.85	31	-2.43	-1.43	-2.03	-4.06	-9.98	-2.05	-2.02	-1.91
Repayment of Debt	-0.78	-0.65	-0.65	-0.73	-0.73	-0.73	-289	-1.81	-1.81	-1.81	-1.81
Other Financing Activities, net	-0.90	-1.20	-1.27	-1.70	-0.70	-1.29	-2.75	-8.16	-0.24	-0.21	-0.10
Cash Interest Paid	4.77	5.59	5.62	6.27	6.36	6.40	5.97	4.38	4.37	4.50	4.55
Cash Income Taxes Paid	0.33	0.10	-0.34	-0.25	0.10	0.21	-0.00	0.61	0.85	0.11	0.01

This table presents LifeStance Health Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,570	1,927	2,174	2,110	2,118	2,204
Total Current Assets	76	267	233	226	313	416
Cash & Equivalents	19	148	109	79	155	249
Accounts Receivable	44	76	101	125	132	96
Prepaid Expenses	14	42	24	22	26	72
Plant, Property, & Equipment, net	59	152	194	188	166	162
Total Noncurrent Assets	1,434	1,508	1,746	1,696	1,640	1,626
Goodwill	1,099	1,205	1,273	1,293	1,293	1,293
Intangible Assets	333	300	263	221	191	178
Other Noncurrent Operating Assets	2.65	3.45	210	182	156	155
Total Liabilities & Shareholders' Equity	1,570	1,927	2,174	2,110	2,118	2,204
Total Liabilities	537	382	655	681	672	683
Total Current Liabilities	76	117	176	203	229	252
Short-Term Debt	11	14	16	8.17	0.00	0.00
Accounts Payable	7.69	14	12	7.05	7.24	6.12
Accrued Expenses	15	27	30	35	47	42
Current Employee Benefit Liabilities	38	60	76	102	117	143
Other Current Liabilities	4.96	1.97	42	50	57	60
Total Noncurrent Liabilities	461	265	479	478	443	431
Long-Term Debt	363	157	225	280	280	266
Noncurrent Deferred & Payable Income Tax Liabilities	81	54	39	16	14	16
Other Noncurrent Operating Liabilities	17	54	215	182	149	149
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	998	1,545	1,519	1,429	1,446	1,521
Total Preferred & Common Equity	998	1,545	1,519	1,429	1,446	1,521
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	998	1,545	1,519	1,429	1,446	1,521
Common Stock	1,011	1,902	2,088	2,187	2,264	2,330
Retained Earnings	-13	-357	-573	-761	-818	-809
Accumulated Other Comprehensive Income / (Loss)	-	0.00	3.27	2.30	0.93	0.00

This table presents LifeStance Health Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	1,980	2,159	2,171	2,175	2,106	2,119	2,108	2,105	2,147	2,149
Total Current Assets	253	213	238	264	244	278	287	305	359	360
Cash & Equivalents	90	68	80	43	49	87	103	134	189	204
Accounts Receivable	113	118	122	150	176	167	158	140	129	121
Prepaid Expenses	49	26	36	72	19	24	26	30	40	35
Plant, Property, & Equipment, net	193	194	193	190	182	176	170	164	161	163
Total Noncurrent Assets	1,534	1,753	1,740	1,721	1,680	1,666	1,651	1,636	1,627	1,626
Goodwill	1,250	1,294	1,294	1,293	1,293	1,293	1,293	1,293	1,293	1,293
Intangible Assets	272	254	244	234	209	200	195	187	184	181
Other Noncurrent Operating Assets	11	205	203	194	178	172	162	156	150	152
Total Liabilities & Shareholders' Equity	1,980	2,159	2,171	2,175	2,106	2,119	2,108	2,105	2,147	2,149
Total Liabilities	448	653	676	720	677	689	671	648	673	656
Total Current Liabilities	112	181	181	241	207	228	218	207	242	229
Accounts Payable	7.95	7.71	8.04	10	12	9.97	7.28	7.42	7.79	12
Accrued Expenses	29	32	34	91	37	38	43	43	47	42
Current Employee Benefit Liabilities	62	84	81	84	100	123	112	100	129	114
Other Current Liabilities	2.63	44	47	47	53	53	53	57	58	60
Total Noncurrent Liabilities	336	472	495	479	470	462	453	440	431	428
Long-Term Debt	212	225	249	248	280	279	279	276	273	269
Noncurrent Deferred & Payable Income Tax Liabilities	55	38	38	38	16	16	15	14	14	14
Other Noncurrent Operating Liabilities	68	210	208	192	174	166	159	150	144	144
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,532	1,505	1,495	1,455	1,429	1,430	1,437	1,457	1,474	1,493
Total Preferred & Common Equity	1,532	1,505	1,495	1,455	1,429	1,430	1,437	1,457	1,474	1,493
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,532	1,505	1,495	1,455	1,429	1,430	1,437	1,457	1,474	1,493
Common Stock	2,054	2,112	2,145	2,167	2,208	2,233	2,247	2,274	2,295	2,313
Retained Earnings	-526	-609	-654	-716	-782	-805	-811	-818	-821	-820
Accumulated Other Comprehensive Income / (Loss)	3.19	2.00	4.15	4.38	2.89	2.64	0.77	0.61	0.35	0.00

This table displays calculated financial ratios and metrics derived from LifeStance Health Group's official financial filings.

Metric	2019	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	28.77%	22.82%	18.50%	13.85%
EBITDA Growth	0.00%	0.00%	40.55%	27.41%	140.40%	92.11%
EBIT Growth	0.00%	0.00%	27.67%	12.89%	83.23%	177.31%
NOPAT Growth	0.00%	0.00%	26.60%	10.01%	83.29%	185.29%
Net Income Growth	0.00%	0.00%	29.83%	13.59%	69.16%	116.82%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	113.33%
Operating Cash Flow Growth	0.00%	0.00%	460.39%	-131.98%	735.28%	36.26%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	47.79%	137.47%	15.92%
Invested Capital Growth	0.00%	0.00%	5.26%	-0.76%	-4.09%	-2.11%
Revenue Q/Q Growth	0.00%	0.00%	4.80%	5.10%	3.72%	4.15%
EBITDA Q/Q Growth	0.00%	0.00%	34.13%	15.60%	161.46%	25.43%
EBIT Q/Q Growth	0.00%	0.00%	24.63%	7.84%	51.73%	271.50%
NOPAT Q/Q Growth	0.00%	0.00%	24.38%	6.77%	51.32%	278.54%
Net Income Q/Q Growth	0.00%	0.00%	23.01%	0.90%	39.72%	205.99%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	11.12%	-854.09%	73.73%	-3.15%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	18.86%	442.27%	-17.06%
Invested Capital Q/Q Growth	0.00%	0.00%	-0.78%	-1.87%	-2.76%	-1.28%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	9.45%	-35.69%	-16.48%	-9.74%	3.32%	5.60%
Operating Margin	7.17%	-42.90%	-24.45%	-17.92%	-2.53%	1.70%
EBIT Margin	6.25%	-44.07%	-24.76%	-17.56%	-2.48%	1.69%
Profit (Net Income) Margin	2.67%	-46.02%	-25.08%	-17.64%	-4.59%	0.68%
Tax Burden Percent	71.99%	92.22%	92.62%	90.16%	99.70%	78.16%
Interest Burden Percent	59.28%	113.23%	109.36%	111.45%	185.38%	51.46%
Effective Tax Rate	28.01%	0.00%	0.00%	0.00%	0.00%	21.84%
Return on Invested Capital (ROIC)	0.00%	-12.78%	-9.14%	-8.05%	-1.38%	1.21%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-466.84%	-96.97%	-39.55%	-22.47%	-11.71%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-7.10%	-4.93%	-4.59%	-2.62%	-0.56%
Return on Equity (ROE)	0.00%	-19.88%	-14.07%	-12.64%	-4.00%	0.65%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-14.27%	-7.29%	2.80%	3.35%
Operating Return on Assets (OROA)	0.00%	-16.83%	-10.38%	-8.65%	-1.47%	1.11%
Return on Assets (ROA)	0.00%	-17.57%	-10.51%	-8.70%	-2.72%	0.45%
Return on Common Equity (ROCE)	0.00%	-19.61%	-14.07%	-12.64%	-4.00%	0.65%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-19.88%	-14.19%	-13.04%	-3.97%	0.00%
Net Operating Profit after Tax (NOPAT)	11	-200	-147	-132	-22	19
NOPAT Margin	5.16%	-30.03%	-17.12%	-12.54%	-1.77%	1.33%
Net Nonoperating Expense Percent (NNEP)	0.00%	454.06%	87.83%	31.51%	21.09%	12.93%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-8.36%	-7.71%	-1.28%	1.06%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	89.96%	134.79%	43.98%	38.91%	29.02%	26.83%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	92.83%	142.90%	124.45%	117.92%	102.53%	98.30%
Earnings before Interest and Taxes (EBIT)	13	-294	-213	-185	-31	24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	20	-238	-142	-103	42	80
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.31	1.22	2.07	1.95	1.80
Price to Tangible Book Value (P/TBV)	0.00	88.76	0.00	0.00	0.00	54.77
Price to Revenue (P/Rev)	3.39	5.34	2.16	2.81	2.25	1.92
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	283.41
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.35%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.29	1.21	1.94	1.87	1.79
Enterprise Value to Revenue (EV/Rev)	0.00	5.37	2.31	3.01	2.35	1.93
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	70.91	34.54
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	114.71
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	146.01
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	380.62	37.69	0.00	27.46	18.86
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	65.56	52.92
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.11	0.16	0.20	0.19	0.17
Long-Term Debt to Equity	0.00	0.10	0.15	0.20	0.19	0.17
Financial Leverage	0.00	0.02	0.05	0.12	0.12	0.05
Leverage Ratio	0.00	1.36	1.34	1.45	1.47	1.46
Compound Leverage Factor	0.00	1.54	1.46	1.62	2.73	0.75
Debt to Total Capital	0.00%	9.99%	13.69%	16.80%	16.21%	14.88%
Short-Term Debt to Total Capital	0.00%	0.82%	0.90%	0.48%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	9.17%	12.79%	16.32%	16.21%	14.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	90.01%	86.31%	83.20%	83.79%	85.12%
Debt to EBITDA	0.00	-0.72	-1.70	-2.81	6.74	3.33
Net Debt to EBITDA	0.00	-0.10	-0.93	-2.04	3.01	0.22
Long-Term Debt to EBITDA	0.00	-0.66	-1.59	-2.73	6.74	3.33
Debt to NOPAT	0.00	-0.86	-1.64	-2.18	-12.64	14.09
Net Debt to NOPAT	0.00	-0.12	-0.90	-1.58	-5.66	0.92
Long-Term Debt to NOPAT	0.00	-0.79	-1.53	-2.12	-12.64	14.09
Altman Z-Score	0.00	5.27	1.44	2.33	2.57	2.66
Noncontrolling Interest Sharing Ratio	0.00%	1.36%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	2.28	1.33	1.11	1.37	1.65
Quick Ratio	0.00	1.92	1.19	1.01	1.25	1.37
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	-230	-120	45	52
Operating Cash Flow to CapEx	119.10%	9.97%	66.61%	-41.67%	497.36%	404.57%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-11.52	-5.65	1.69	4.47
Operating Cash Flow to Interest Expense	3.15	0.24	2.65	-0.80	4.04	12.53
Operating Cash Flow Less CapEx to Interest Expense	0.51	-2.19	-1.33	-2.71	3.23	9.43
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.38	0.42	0.49	0.59	0.66
Accounts Receivable Turnover	0.00	11.15	9.72	9.33	9.73	12.52
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	6.31	4.96	5.52	7.06	8.69
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	32.75	37.57	39.12	37.52	29.15
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	32.75	37.57	39.12	37.52	29.15
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	1,569	1,651	1,639	1,572	1,538
Invested Capital Turnover	0.00	0.43	0.53	0.64	0.78	0.92
Increase / (Decrease) in Invested Capital	0.00	0.00	83	-12	-67	-33
Enterprise Value (EV)	0.00	3,585	1,990	3,174	2,945	2,756
Market Capitalization	720	3,562	1,857	2,964	2,820	2,739
Book Value per Share	$0.00	$4.13	$4.04	$3.77	$3.78	$3.91
Tangible Book Value per Share	$0.00	$0.11	($0.05)	($0.23)	($0.10)	$0.13
Total Capital	0.00	1,717	1,760	1,717	1,726	1,787
Total Debt	0.00	172	241	288	280	266
Total Long-Term Debt	0.00	157	225	280	280	266
Net Debt	0.00	24	132	210	125	17
Capital Expenditures (CapEx)	14	94	79	41	22	36
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	16	-36	-48	-71	-84
Debt-free Net Working Capital (DFNWC)	0.00	164	73	31	84	164
Net Working Capital (NWC)	0.00	150	57	23	84	164
Net Nonoperating Expense (NNE)	5.30	107	68	54	35	9.21
Net Nonoperating Obligations (NNO)	0.00	24	132	210	125	17
Total Depreciation and Amortization (D&A)	6.80	56	71	83	73	56
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	2.38%	-4.13%	-4.53%	-5.67%	-5.93%
Debt-free Net Working Capital to Revenue	0.00%	24.55%	8.50%	2.94%	6.68%	11.53%
Net Working Capital to Revenue	0.00%	22.44%	6.66%	2.17%	6.68%	11.53%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	0.00	374.27M	355.28K	367.46K	379.15M	386.02M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.02
Adjusted Weighted Average Diluted Shares Outstanding	0.00	374.27M	376.37M	367.46K	379.15M	391.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	327.52K	376.37M	380.69M	384.55M	389.78M
Normalized Net Operating Profit after Tax (NOPAT)	11	-200	-147	-132	-22	19
Normalized NOPAT Margin	5.16%	-30.03%	-17.12%	-12.54%	-1.77%	1.33%
Pre Tax Income Margin	3.71%	-49.90%	-27.08%	-19.57%	-4.61%	0.87%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	2.46	-7.56	-10.68	-8.74	-1.17	2.06
NOPAT to Interest Expense	2.03	-5.15	-7.38	-6.24	-0.83	1.62
EBIT Less CapEx to Interest Expense	-0.19	-9.99	-14.66	-10.64	-1.98	-1.04
NOPAT Less CapEx to Interest Expense	-0.62	-7.58	-11.36	-8.15	-1.65	-1.48
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from LifeStance Health Group's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.89%	20.84%	22.34%	18.94%	20.32%	18.95%	15.99%	10.83%	10.56%	16.34%	17.43%
EBITDA Growth	38.25%	-168.07%	65.40%	160.12%	108.28%	129.73%	255.03%	91.37%	404.91%	36.19%	103.74%
EBIT Growth	22.70%	-90.68%	32.48%	55.31%	64.18%	100.04%	101.59%	110.81%	81.89%	23,725.81%	3,376.54%
NOPAT Growth	19.94%	-91.45%	29.86%	50.81%	67.06%	100.06%	103.28%	109.56%	81.50%	5,205.57%	1,772.27%
Net Income Growth	33.83%	-62.69%	3.64%	38.39%	48.82%	90.33%	84.18%	103.36%	83.71%	118.08%	264.06%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	100.00%	0.00%	100.00%	0.00%
Operating Cash Flow Growth	-105.54%	-542.50%	-53.24%	-176.78%	10,252.07%	189.62%	271.04%	85.84%	46.16%	20.09%	-7.63%
Free Cash Flow Firm Growth	75.70%	69.09%	91.20%	99.05%	160.27%	193.04%	771.75%	8,801.85%	79.31%	10.73%	-30.55%
Invested Capital Growth	1.67%	0.35%	-0.76%	-0.66%	-2.88%	-3.22%	-4.09%	-3.89%	-4.21%	-3.58%	-2.11%
Revenue Q/Q Growth	2.77%	1.28%	6.74%	7.07%	3.96%	0.13%	4.08%	2.30%	3.71%	5.36%	5.05%
EBITDA Q/Q Growth	-97.83%	-95.03%	80.79%	181.10%	-72.76%	600.54%	0.17%	0.11%	-28.13%	88.96%	49.86%
EBIT Q/Q Growth	-41.32%	-54.56%	54.78%	54.76%	-13.26%	100.18%	1,577.42%	208.27%	-289.77%	342.80%	144.76%
NOPAT Q/Q Growth	-42.00%	-53.59%	56.60%	48.03%	4.92%	100.29%	2,153.19%	51.46%	-283.92%	184.53%	695.12%
Net Income Q/Q Growth	-32.81%	-35.41%	26.99%	53.08%	-10.33%	74.41%	-19.39%	109.97%	-634.70%	128.41%	983.38%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	94.50%	-5,742.17%	166.24%	-230.03%	301.76%	-48.43%	174.25%	-104.96%	2,182.66%	-57.63%	110.94%
Free Cash Flow Firm Q/Q Growth	22.53%	5.94%	82.54%	92.50%	4,990.03%	45.20%	26.07%	-2.79%	0.77%	-10.34%	-20.93%
Invested Capital Q/Q Growth	-0.02%	-0.28%	-1.87%	1.54%	-2.26%	-0.63%	-2.76%	1.76%	-2.58%	0.02%	-1.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-10.34%	-19.91%	-3.58%	2.72%	0.71%	4.98%	4.79%	4.69%	3.25%	5.83%	8.31%
Operating Margin	-18.65%	-28.28%	-11.50%	-5.58%	-5.11%	0.02%	0.33%	0.48%	-0.85%	2.04%	4.73%
EBIT Margin	-18.07%	-27.57%	-11.68%	-4.94%	-5.38%	0.01%	0.16%	0.48%	-0.88%	2.03%	4.73%
Profit (Net Income) Margin	-17.52%	-23.42%	-16.02%	-7.02%	-7.45%	-1.90%	-2.19%	0.21%	-1.10%	0.30%	3.05%
Tax Burden Percent	87.42%	78.99%	117.34%	101.75%	102.90%	110.68%	80.13%	-48.23%	63.80%	23.56%	76.75%
Interest Burden Percent	110.91%	107.56%	116.87%	139.80%	134.66%	-17,361.29%	-1,706.92%	-91.70%	195.33%	61.90%	84.10%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	76.44%	23.25%
Return on Invested Capital (ROIC)	-7.54%	-11.93%	-5.17%	-2.58%	-2.50%	0.01%	0.18%	0.27%	-0.49%	0.41%	3.33%
ROIC Less NNEP Spread (ROIC-NNEP)	-15.39%	-17.42%	-18.25%	-7.21%	-8.95%	-3.04%	-4.51%	0.05%	-1.73%	-0.13%	0.22%
Return on Net Nonoperating Assets (RNNOA)	-1.50%	-2.03%	-2.12%	-0.99%	-1.15%	-0.41%	-0.53%	0.01%	-0.17%	-0.01%	0.01%
Return on Equity (ROE)	-9.04%	-13.96%	-7.28%	-3.58%	-3.65%	-0.41%	-0.35%	0.27%	-0.66%	0.40%	3.34%
Cash Return on Invested Capital (CROIC)	-8.71%	-8.86%	-7.29%	-6.55%	-2.99%	0.50%	2.80%	3.40%	4.29%	3.96%	3.35%
Operating Return on Assets (OROA)	-8.37%	-13.33%	-5.76%	-2.55%	-2.90%	0.01%	0.09%	0.29%	-0.54%	1.30%	3.12%
Return on Assets (ROA)	-8.12%	-11.33%	-7.90%	-3.63%	-4.02%	-1.07%	-1.29%	0.13%	-0.68%	0.19%	2.01%
Return on Common Equity (ROCE)	-9.04%	-13.96%	-7.28%	-3.58%	-3.65%	-0.41%	-0.35%	0.27%	-0.66%	0.40%	3.34%
Return on Equity Simple (ROE_SIMPLE)	-10.99%	-12.92%	0.00%	-12.11%	-10.55%	-6.63%	0.00%	-2.45%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-34	-52	-23	-12	-11	0.03	0.74	1.12	-2.07	1.75	14
NOPAT Margin	-13.06%	-19.80%	-8.05%	-3.91%	-3.57%	0.01%	0.23%	0.34%	-0.60%	0.48%	3.63%
Net Nonoperating Expense Percent (NNEP)	7.85%	5.49%	13.08%	4.63%	6.44%	3.04%	4.69%	0.22%	1.23%	0.55%	3.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-1.32%	-	-	-	0.04%	0.06%	-0.12%	0.10%	0.78%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	111.13%	120.82%	-164.97%	98.07%	99.15%	95.15%	-165.55%	28.36%	28.20%	26.28%	24.80%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	118.65%	128.28%	111.50%	105.58%	105.11%	99.99%	99.67%	99.52%	100.85%	97.96%	95.27%
Earnings before Interest and Taxes (EBIT)	-47	-72	-33	-15	-17	0.03	0.52	1.60	-3.04	7.39	18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-27	-52	-10	8.16	2.22	16	16	16	11	21	32
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.30	1.78	2.07	1.64	1.31	1.86	1.95	1.76	1.36	1.43	1.80
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	114.75	54.77
Price to Revenue (P/Rev)	3.59	2.59	2.81	2.13	1.62	2.22	2.25	2.00	1.53	1.56	1.92
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	283.41
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.35%
Enterprise Value to Invested Capital (EV/IC)	2.16	1.68	1.94	1.55	1.27	1.77	1.87	1.69	1.34	1.41	1.79
Enterprise Value to Revenue (EV/Rev)	3.77	2.80	3.01	2.34	1.79	2.37	2.35	2.11	1.59	1.61	1.93
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	179.85	70.91	55.18	36.12	34.65	34.54
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	340.91	114.71
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	442.16	146.01
Enterprise Value to Operating Cash Flow (EV/OCF)	108.62	1,255.75	0.00	0.00	151.76	46.28	27.46	21.45	14.31	14.61	18.86
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	344.88	65.56	48.69	30.66	35.11	52.92
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.17	0.18	0.20	0.20	0.20	0.20	0.19	0.19	0.19	0.18	0.17
Long-Term Debt to Equity	0.17	0.17	0.20	0.20	0.20	0.19	0.19	0.19	0.19	0.18	0.17
Financial Leverage	0.10	0.12	0.12	0.14	0.13	0.14	0.12	0.13	0.10	0.08	0.05
Leverage Ratio	1.37	1.39	1.45	1.45	1.47	1.48	1.47	1.46	1.47	1.45	1.46
Compound Leverage Factor	1.52	1.50	1.70	2.03	1.98	-257.11	-25.10	-1.34	2.87	0.90	1.23
Debt to Total Capital	14.78%	15.03%	16.80%	16.59%	16.53%	16.38%	16.21%	15.94%	15.62%	15.29%	14.88%
Short-Term Debt to Total Capital	0.60%	0.52%	0.48%	0.26%	0.22%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	14.18%	14.50%	16.32%	16.33%	16.31%	16.24%	16.21%	15.94%	15.62%	15.29%	14.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	85.22%	84.97%	83.20%	83.41%	83.47%	83.62%	83.79%	84.06%	84.38%	84.71%	85.12%
Debt to EBITDA	-2.91	-2.11	-2.81	-3.51	-5.44	17.72	6.74	5.64	4.71	4.23	3.33
Net Debt to EBITDA	-2.02	-1.76	-2.04	-2.90	-3.77	11.26	3.01	2.90	1.45	1.03	0.22
Long-Term Debt to EBITDA	-2.79	-2.04	-2.73	-3.45	-5.37	17.57	6.74	5.64	4.71	4.23	3.33
Debt to NOPAT	-2.21	-1.81	-2.18	-2.36	-2.90	-6.19	-12.64	-29.82	-1,624.14	54.03	14.09
Net Debt to NOPAT	-1.53	-1.51	-1.58	-1.95	-2.01	-3.94	-5.66	-15.32	-499.57	13.13	0.92
Long-Term Debt to NOPAT	-2.12	-1.75	-2.12	-2.33	-2.87	-6.14	-12.64	-29.82	-1,624.14	54.03	14.09
Altman Z-Score	3.03	2.07	2.57	2.08	1.65	2.47	2.62	2.50	1.93	2.14	2.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.32	1.10	1.11	1.18	1.22	1.32	1.37	1.47	1.48	1.58	1.65
Quick Ratio	1.11	0.80	1.01	1.09	1.12	1.20	1.25	1.32	1.31	1.42	1.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-61	-58	-10	-0.76	37	54	68	66	66	60	47
Operating Cash Flow to CapEx	-3.75%	-258.83%	147.14%	-427.86%	862.23%	449.85%	988.99%	-43.14%	830.38%	265.15%	527.54%
Free Cash Flow to Firm to Interest Expense	-12.00	-10.55	-1.82	-0.13	6.36	9.94	7.22	21.45	22.90	21.16	16.38
Operating Cash Flow to Interest Expense	-0.08	-4.63	3.04	-3.70	7.57	4.20	6.63	-1.01	22.21	9.70	20.02
Operating Cash Flow Less CapEx to Interest Expense	-2.35	-6.42	0.97	-4.56	6.69	3.26	5.96	-3.34	19.53	6.04	16.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.46	0.48	0.49	0.52	0.54	0.56	0.59	0.61	0.62	0.64	0.66
Accounts Receivable Turnover	8.66	7.64	9.33	7.50	8.00	7.83	9.73	8.12	8.87	9.80	12.52
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.00	5.24	5.52	5.87	6.27	6.70	7.06	7.42	7.82	8.22	8.69
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	42.16	47.79	39.12	48.67	45.62	46.59	37.52	44.98	41.13	37.26	29.15
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	42.16	47.79	39.12	48.67	45.62	46.59	37.52	44.98	41.13	37.26	29.15
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,675	1,670	1,639	1,664	1,626	1,616	1,572	1,599	1,558	1,558	1,538
Invested Capital Turnover	0.58	0.60	0.64	0.66	0.70	0.73	0.78	0.79	0.83	0.86	0.92
Increase / (Decrease) in Invested Capital	28	5.75	-12	-11	-48	-54	-67	-65	-68	-58	-33
Enterprise Value (EV)	3,620	2,812	3,174	2,584	2,073	2,857	2,945	2,703	2,094	2,205	2,756
Market Capitalization	3,440	2,597	2,964	2,349	1,877	2,678	2,820	2,561	2,010	2,139	2,739
Book Value per Share	$3.97	$3.85	$3.77	$3.75	$3.74	$3.76	$3.78	$3.79	$3.79	$3.84	$3.91
Tangible Book Value per Share	($0.11)	($0.19)	($0.23)	($0.19)	($0.17)	($0.13)	($0.10)	($0.06)	($0.01)	$0.05	$0.13
Total Capital	1,754	1,712	1,717	1,713	1,713	1,719	1,726	1,733	1,747	1,762	1,787
Total Debt	259	257	288	284	283	282	280	276	273	269	266
Total Long-Term Debt	249	248	280	280	279	279	280	276	273	269	266
Net Debt	180	215	210	235	196	179	125	142	84	65	17
Capital Expenditures (CapEx)	12	9.80	11	5.10	5.11	5.05	6.30	7.17	7.76	10	11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-12	-10	-48	-8.34	-33	-31	-71	-37	-72	-72	-84
Debt-free Net Working Capital (DFNWC)	68	32	31	41	54	72	84	97	117	132	164
Net Working Capital (NWC)	57	23	23	37	50	70	84	97	117	132	164
Net Nonoperating Expense (NNE)	12	9.53	22	9.36	12	5.99	7.85	0.41	1.73	0.67	2.21
Net Nonoperating Obligations (NNO)	180	215	210	235	196	179	125	142	84	65	17
Total Depreciation and Amortization (D&A)	20	20	23	23	19	16	15	14	14	14	14
Debt-free, Cash-free Net Working Capital to Revenue	-1.26%	-1.02%	-4.53%	-0.76%	-2.86%	-2.54%	-5.67%	-2.89%	-5.50%	-5.27%	-5.93%
Debt-free Net Working Capital to Revenue	7.04%	3.22%	2.94%	3.73%	4.66%	5.97%	6.68%	7.58%	8.85%	9.64%	11.53%
Net Working Capital to Revenue	5.95%	2.33%	2.17%	3.32%	4.33%	5.76%	6.68%	7.58%	8.85%	9.64%	11.53%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	363.16K	372.48K	367.46M	376.33M	379.43M	380.36M	379.15M	383.27M	386.73M	386.96M	386.02M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	363.16K	372.48K	367.46M	376.33M	379.43M	380.36M	379.15M	390.67M	386.73M	388.90M	391.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	378.01M	378.61M	380.69M	382.29M	382.62M	382.64M	384.55M	388.88M	388.94M	389.00M	389.78M
Normalized Net Operating Profit after Tax (NOPAT)	-34	-52	-23	-12	-11	0.03	0.74	1.12	-2.07	5.19	14
Normalized NOPAT Margin	-13.06%	-19.80%	-8.05%	-3.91%	-3.57%	0.01%	0.23%	0.34%	-0.60%	1.43%	3.63%
Pre Tax Income Margin	-20.04%	-29.66%	-13.65%	-6.90%	-7.24%	-1.72%	-2.73%	-0.44%	-1.72%	1.26%	3.98%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-9.16	-13.24	-5.93	-2.51	-2.88	0.01	0.06	0.52	-1.05	2.62	6.29
NOPAT to Interest Expense	-6.62	-9.50	-4.08	-1.99	-1.92	0.01	0.08	0.37	-0.71	0.62	4.83
EBIT Less CapEx to Interest Expense	-11.42	-15.02	-7.99	-3.38	-3.76	-0.93	-0.62	-1.81	-3.72	-1.03	2.49
NOPAT Less CapEx to Interest Expense	-8.88	-11.29	-6.15	-2.85	-2.79	-0.93	-0.59	-1.97	-3.39	-3.04	1.03
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

LifeStance Health Group (LFST) has shown meaningful revenue growth over the past four years, with improving cash flow and aFinish balance sheet, though it continues to carry a large amount of goodwill and other intangibles. The company also posted a positive quarterly net income in the latest quarter, supported by solid operating cash flow. Below is a concise look at the key trends from the last four years of quarterly data.

Four-year revenue growth: Q4 2022 operating revenue was about $229.36 million, rising to about $382.20 million in Q4 2025 (roughly a 66% increase).
Q4 2025 net income: Net income (continuing operations) was about $11.67 million, marking a positive quarterly bottom line in the latest period.
Operating cash flow strength in 2025: Net cash from continuing operating activities reached around $64.40 million in Q2 2025 and about $57.56 million in Q4 2025, indicating improving cash generation from core operations.
Free cash flow potential in Q4 2025: With capex of roughly $10.91 million, free cash flow for the quarter was around $46.65 million (approximate), illustrating meaningful liquidity from operations after investing outlays.
Healthy balance sheet headroom: Total assets around $2.149 billion and total equity near $1.493 billion in Q3 2025, giving a strong equity base to support growth and financing needs.
Modest net debt position: As of Q3 2025, long-term debt was about $269.39 million and cash around $203.90 million, yielding a rough net debt position in the low tens of millions (roughly $68 million), implying manageable leverage.

Asset intensity: The balance sheet carries substantial goodwill (approximately $1.293 billion in Q3 2025) and sizable intangible assets, which can affect impairment risk and ROIC metrics.
Earnings per share: Diluted earnings per share have been reported as 0.0 in several quarters, which may reflect accounting treatment, heavy share count, or low quarterly earnings relative to shares outstanding.

Historical quarterly profitability volatility: The company has recorded quarterly net losses in several periods outside the latest quarter (e.g., Q2 2024 net income around \-$45.5 million), indicating ongoing earnings volatility beyond the latest positive quarter.
Revenue and expense mix variability: While revenue has grown, cost structure and non-cash adjustments have fluctuated, contributing to uneven quarterly operating income in some periods.

05/06/26 11:31 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About LifeStance Health Group's Financials

When does LifeStance Health Group's fiscal year end?

According to the most recent income statement we have on file, LifeStance Health Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has LifeStance Health Group's net income changed over the last 5 years?

LifeStance Health Group's net income appears to be on a downward trend, with a most recent value of $9.66 million in 2025, rising from $5.67 million in 2019. The previous period was -$57.44 million in 2024. Find out what analysts predict for LifeStance Health Group in the coming months.

What is LifeStance Health Group's operating income?

LifeStance Health Group's total operating income in 2025 was $24.15 million, based on the following breakdown:

Total Gross Profit: $1.42 billion
Total Operating Expenses: $1.40 billion

How has LifeStance Health Group's revenue changed over the last 5 years?

Over the last 5 years, LifeStance Health Group's total revenue changed from $212.52 million in 2019 to $1.42 billion in 2025, a change of 570.2%.

How much debt does LifeStance Health Group have?

LifeStance Health Group's total liabilities were at $682.92 million at the end of 2025, a 1.6% increase from 2024, and a 27.2% increase since 2020.

How much cash does LifeStance Health Group have?

In the past 5 years, LifeStance Health Group's cash and equivalents has ranged from $18.83 million in 2020 to $248.64 million in 2025, and is currently $248.64 million as of their latest financial filing in 2025.

How has LifeStance Health Group's book value per share changed over the last 5 years?

Over the last 5 years, LifeStance Health Group's book value per share changed from 0.00 in 2019 to 3.91 in 2025, a change of 391.0%.

Related Companies

Financial statements for NASDAQ:LFST last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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LifeStance Health Group (LFST) Financials

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LifeStance Health Group (LFST) Financials

Annual Income Statements for LifeStance Health Group

Quarterly Income Statements for LifeStance Health Group

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Quarterly Balance Sheets for LifeStance Health Group

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Quarterly Metrics And Ratios for LifeStance Health Group

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