Lifestance Health Group, Inc. (LFST)
NASDAQ:LFST
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Lifestance Health Group
(NASDAQ:LFST)
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Rating:59Neutral
Price Target:
$7.00
▲(9.37% Upside)
Action:ReiteratedDate:03/12/26
The score is driven primarily by improving financial performance and a constructive earnings outlook with continued growth and margin expansion. These positives are tempered by weak technical momentum and a very high P/E that reduces valuation support.
Positive Factors
Revenue Growth & Guidance
Clear multi-year top-line momentum and explicit 2026 guidance (~15% growth) provide durable revenue visibility. Management’s mid‑teens longer‑term target implies scalable demand and a runway to invest in capacity and margin expansion rather than relying on short‑lived patchwork gains.
Negative Factors
Thin Profitability
Profitability is an early inflection but remains razor‑thin after several loss years. With net and EBIT margins near breakeven, modest adverse moves in reimbursement, utilization, or staffing costs could erase gains. The short track record of sustained profits raises execution risk for durable margin expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Guidance
Clear multi-year top-line momentum and explicit 2026 guidance (~15% growth) provide durable revenue visibility. Management’s mid‑teens longer‑term target implies scalable demand and a runway to invest in capacity and margin expansion rather than relying on short‑lived patchwork gains.
Read all positive factors
Lifestance Health Group (LFST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.49B
Dividend YieldN/A
Average Volume (3M)2.75M
Price to Earnings (P/E)281.2
Beta (1Y)0.65
Revenue Growth13.39%
EPS Growth90.55%
CountryUS
Employees7,535
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.01
Shares Outstanding389,783,200
10 Day Avg. Volume1,823,507
30 Day Avg. Volume2,753,224
Financial Highlights & Ratios
PEG Ratio-2.34
Price to Book (P/B)1.79
Price to Sales (P/S)1.91
P/FCF Ratio24.70
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue1.72
Enterprise Value/Gross Profit5.64
Enterprise Value/Ebitda31.02
Forecast
1Y Price Target
$10.14Price Target Upside58.44% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)0.07
Revenue Forecast (FY)$1.64B
Lifestance Health Group Business Overview & Revenue Model
Company Description
LifeStance Health Group, Inc., through its subsidiaries, provides outpatient mental health services. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychologi...
How the Company Makes Money
LifeStance primarily makes money by providing outpatient mental health services and billing third-party payors and patients for those services. The core revenue stream is patient service revenue generated from clinician-delivered visits, including...
Lifestance Health Group Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call highlights substantial progress in 2025: double-digit revenue and visit growth, clinician base expansion, meaningful productivity gains, record adjusted EBITDA margins, positive net income achieved early, strong free cash flow, and disciplined technology investments (including AI) driving operational improvements. Management provided constructive 2026 guidance with continued revenue and margin expansion and capital allocation optionality (share repurchase, disciplined M&A). The main headwinds are implementation costs and execution risk for a new EHR, ongoing competitive pressure for clinicians, a sizable stock-based compensation run rate in 2026, flat revenue per visit in the latest quarter, and the initial lower-margin impact of new center openings. Overall, the positive operational and financial momentum and clear path to margin expansion outweigh the manageable execution and market risks discussed.Positive Updates
Strong Revenue Growth
Full-year 2025 revenue of $1,424,000,000, up 14% year-over-year; Q4 2025 revenue of $382,000,000, up 17% year-over-year and modestly ahead of expectations.
Negative Updates
Flat Total Revenue Per Visit in Q4
Total revenue per visit was $160 in Q4 2025 and was roughly flat year-over-year, indicating limited per-visit pricing improvement in the quarter despite higher volumes.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Revenue Growth
Full-year 2025 revenue of $1,424,000,000, up 14% year-over-year; Q4 2025 revenue of $382,000,000, up 17% year-over-year and modestly ahead of expectations.
Read all positive updates
Company Guidance
LifeStance guided 2026 full‑year revenue of $1.615B–$1.655B (roughly 15% growth), center margin of $526M–$550M, and adjusted EBITDA of $185M–$205M (midpoint ≈11.9% margin, ~100 bps expansion), with revenue split roughly 50/50 H1/H2 (H2 slightly higher); Q1 guidance is $380M–$400M revenue, $118M–$132M center margin, and $39M–$45M adjusted EBITDA (Q1 seasonally impacted by higher payroll taxes). The company expects higher visit volumes (low double‑digit growth) plus low‑ to‑mid‑single‑digit total revenue‑per‑visit increases, plans to open 20–30 new centers, expects meaningful positive free cash flow for 2026, forecasts stock‑based compensation of ~$60M–$70M (benefiting from a ~$10M/year reduction from replacing clinician equity with cash bonuses beginning in 2026), and disclosed $20M–$30M of EHR implementation cash spend across 2026–2027 (mostly capitalized/EBITDA‑adjusted); longer term it targets mid‑teens revenue growth and mid‑teens adjusted EBITDA margins by FY2028.Lifestance Health Group Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
72
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.42B | 1.25B | 1.06B | 859.54M | 667.51M |
| Gross Profit | 406.35M | 402.40M | 302.10M | 237.02M | 201.51M |
| EBITDA | 78.78M | 39.87M | -104.93M | -143.60M | -240.06M |
| Net Income | 9.66M | -57.44M | -186.26M | -215.56M | -307.20M |
Balance Sheet | |||||
| Total Assets | 2.20B | 2.12B | 2.11B | 2.17B | 1.93B |
| Cash, Cash Equivalents and Short-Term Investments | 248.64M | 154.57M | 78.82M | 108.62M | 148.03M |
| Total Debt | 194.10M | 485.19M | 511.04M | 478.83M | 158.74M |
| Total Liabilities | 682.92M | 672.01M | 681.04M | 655.15M | 382.08M |
| Stockholders Equity | 1.52B | 1.45B | 1.43B | 1.52B | 1.55B |
Cash Flow | |||||
| Free Cash Flow | 110.03M | 85.69M | -57.40M | -26.47M | -85.07M |
| Operating Cash Flow | 146.15M | 107.26M | -16.88M | 52.79M | 9.42M |
| Investing Cash Flow | -36.13M | -21.57M | -60.34M | -139.46M | -194.08M |
| Financing Cash Flow | -15.96M | -9.95M | 47.43M | 47.26M | 313.86M |
Lifestance Health Group Technical Analysis
Negative
6.40
Price Trends
6.84
Negative
6.83
Negative
5.92
Positive
Market Momentum
-0.15
Negative
43.72
Neutral
27.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LFST, the sentiment is Negative. The current price of 6.4 is below the 20-day moving average (MA) of 6.48, below the 50-day MA of 6.84, and above the 200-day MA of 5.92, indicating a neutral trend. The MACD of -0.15 indicates Negative momentum. The RSI at 43.72 is Neutral, neither overbought nor oversold. The STOCH value of 27.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LFST.
Lifestance Health Group Risk Analysis
Lifestance Health Group disclosed 47 risk factors in its most recent earnings report. Lifestance Health Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Lifestance Health Group Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.55B | 17.67 | 11.57% | 1.80% | 23.74% | -18.99% | |
62 Neutral | $2.03B | 12.54 | 5.57% | 1.69% | -22.96% | -59.35% | |
59 Neutral | $2.49B | 281.23 | 0.65% | ― | 13.39% | 90.55% | |
58 Neutral | $3.30B | -9.62 | -523.78% | ― | 3.93% | -42.22% | |
55 Neutral | $2.30B | -1.17 | -39.42% | ― | 4.58% | -61.50% | |
53 Neutral | $1.41B | 7.31 | 953.09% | ― | 15.48% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
LFST
Lifestance Health Group
6.40
-0.13
-1.99%
ACHC
Acadia Healthcare
24.91
-2.21
-8.15%
BKD
Brookdale Senior Living
13.89
8.76
170.76%
NHC
National Healthcare
164.13
75.98
86.19%
SEM
Select Medical
16.38
0.91
5.90%
AVAH
Aveanna Healthcare Holdings
6.49
1.69
35.21%
Lifestance Health Group Corporate Events
Business Operations and StrategyExecutive/Board Changes
LifeStance Health Appoints Lisa Miller as Chief Operating Officer
Positive
Mar 12, 2026
On March 10, 2026, LifeStance Health Group, Inc. promoted Lisa Miller, 52, to Chief Operating Officer and Principal Operating Officer, elevating her from her previous roles leading practice operations since September 2022 and drawing on her prior ...
Stock BuybackPrivate Placements and FinancingRegulatory Filings and Compliance
Lifestance Health Announces Secondary Offering and Share Repurchase
Neutral
Mar 2, 2026
On February 25, 2026, LifeStance Health Group, Inc. entered into an underwriting agreement with J.P. Morgan Securities LLC and certain selling stockholders for an underwritten secondary offering of 25,000,000 shares of its common stock, under an e...
Business Operations and StrategyStock BuybackFinancial Disclosures
LifeStance Health Guides 2026 Growth, Announces Buyback Program
Positive
Feb 25, 2026
On February 25, 2026, LifeStance Health Group reported that fourth-quarter 2025 revenue rose 17% year over year to $382.2 million and full-year revenue climbed 14% to $1.42 billion, driven by an expanded clinician base, higher visit volumes and im...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.