Business
LifeStance Reports Fourth Quarter and Full Year 2021 Results
SCOTTSDALE, Ariz., March 10, 2022 (GLOBE NEWSWIRE) -- LifeStance Health Group, Inc. (NASDAQ: LFST), one of the nation’s largest providers of outpatient mental
About this update from Lifestance Health Group, Inc.
[{"type":"text","content":"SCOTTSDALE, Ariz., March 10, 2022 (GLOBE NEWSWIRE) -- LifeStance Health Group, Inc. (NASDAQ: LFST), one of the nation’s largest providers of outpatient mental health care, today announced financial results for the fourth quarter and full year ended December 31, 2021. (All results compared to prior-year comparative period, unless otherwise noted)2021 Highlights and 2022 Outlook Fourth quarter revenue increased 61% to $190.1 million and full year revenue of $667.5 million increased $290.3 million or 77%1 compared to revenue of $377.2 million in 2020 ($265.5 million for the Successor 2020 Period and $111.7 million for the Predecessor 2020 Period)Clinician base increased 55% to 4,790 clinicians, including 415 net clinician adds in the fourth quarter and 1,693 for the full yearNet loss of $108.0 million in the fourth quarter and $307.2 million for the full year, primarily driven by stock and unit-based compensationAdjusted EBITDA of positive $11.4 million in the fourth quarter and positive $49.2 million for the full yearReaffirming expectation of low 30s revenue growth rate: Expecting full year 2022 revenue of $865 to $885 million, Center Margin of $240 to $255 million, and Adjusted EBITDA of $63 to $67 million “2021 was a milestone year for LifeStance,” said Michael Lester, Chairman and CEO of LifeStance. “We were able to successfully drive significant topline growth and rapidly expand our clinician population. Our ability to deliver is a testament to our team, the strength of our strategic vision and the flexibility of our profitable hybrid model. I am pleased with our 2021 performance, and excited about our continued ability to help more people lead healthier, more fulfilling lives by improving access to trusted, affordable, and personalized mental healthcare.” Financial Highlights Successor Predecessor Q4 2021 Q4 2020 Y/Y FY 2021 April 13 toDecember 31, 2020 January 1 toMay 14, 2020 Y/Y1 (in millions) Total revenue $190.1 $118.1 61% $667.5 $265.5 $111.7 77%(Loss) income from operations (113.8) 3.9 (3,018%) (286.4) 6.7 8.7 Center Margin 54.2 39.0 39% 201.5 86.3 32.9 69%Net (loss) income and comprehensive (loss) income (108.0) (5.5) 1,864% (307.2) (13.1) (24.9) Adjusted EBITDA 11.4 16.5 (31%) 49.2 37.5 12.7 (2%)As % of Total Revenue: (Loss) income from operations (59.9%) 3.3% (42.9%) 2.5% 7.8% Center Margin 28.5% 33.0% 30.2% 32.5% ...