LifeStance Q1 revenue +19% to $300.4M; raises FY2024 EBITDA guidance; COO to depart June 30

LifeStance Health Group, Inc.

Q1 revenue $300.4M (+19% YoY); net loss narrowed to $21.1M from $34.2M.
Adjusted EBITDA $27.7M (9.2% of revenue), up from $10.1M; FY2024 Adjusted EBITDA guidance raised to $88–$98M.
Clinician base grew 15% to 6,866; visit volumes up 15% to 1.9M; Center Margin $94.7M (31.5% of revenue).
President & COO Danish Qureshi notified departure effective June 30, 2024.
Q2 2024 guidance: revenue $297–$315M, Adjusted EBITDA $20–$26M.

item 2.02 item 5.02 item 7.01 item 9.01

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Departed

Danish Qureshi

President and Chief Operating Officer

LFST · LifeStance Health Group, Inc.

Effective: 2024-06-30
Filed: May 9, 2024, 7:59 PM ET

On May 6, 2024, Danish Qureshi, the President and Chief Operating Officer of LifeStance Health Group, notified the Company of his decision to depart the Company, effective June 30, 2024.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LifeStance Health Group, Inc. reported the first quarter ended March 31, 2024 results: revenue $300.4 million, net income ($21.1 million). Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $300.4 million
Net income: ($21.1 million)
Guidance: raised
Result: reported results

Exact text from the filing

LifeStance Reports First Quarter 2024 Results SCOTTSDALE, Ariz. – May 9, 2024 – LifeStance Health Group, Inc. (Nasdaq: LFST), one of the nation’s largest providers of outpatient mental healthcare, today announced financial results for the first quarter ended March 31, 2024. (All results compared to prior-year comparative period, unless otherwise noted) Q1 2024 Highlights and FY 2024 Outlook • Revenue of $300.4 million increased 19% compared to revenue of $252.6 million • Clinician base increased 15% to 6,866 clinicians, a sequential net increase of 221 in the first quarter • First quarter visit volumes increased 15% to 1.9 million • Net loss of $21.1 million, primarily driven by stock-based compensation, compared to net loss of $34.2 million

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Danish Qureshi departed as President and Chief Operating Officer at LifeStance Health Group, Inc..

Action: notified his decision to depart
Role: President and Chief Operating Officer

Exact text from the filing

On May 6, 2024, Danish Qureshi, the President and Chief Operating Officer of LifeStance Health Group, notified the Company of his decision to depart the Company, effective June 30, 2024.

View on SEC.gov

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Source: SEC EDGAR

accession 0000950170-24-056089

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