Record Clinician Growth and Productivity
LifeStance Health grew its clinician base by over 170, bringing the total to over 7,700 clinicians. Productivity improvements were noted, with a focus on initiatives to further fill clinicians' calendars and improve patient engagement.
Strong Financial Performance
The company reported a double-digit organic revenue growth and adjusted EBITDA margins of 10%. Revenue grew 11% year-over-year to $345 million, with visit volumes increasing 12% year-over-year.
Exceptional Free Cash Flow
LifeStance Health delivered exceptionally strong free cash flow of $57 million, marking the highest in the company's history, and reported a solid cash position of $189 million.
Technology and AI Investments
The company is entering a new chapter of tech enablement, leveraging AI for operational efficiency, with initiatives to improve revenue cycle processes and clinician documentation.
Improved Financial Outlook
Full-year guidance for adjusted EBITDA was raised due to outperformance in the first half, with expectations of achieving double-digit margins for the full year.