Lifestance Health Group, Inc. · NASDAQ:LFST
Lifestance Health — Q2 2021 Earnings Presentation
26 slides from Lifestance Health's earnings presentation, Aug 11, 2021
Slide 1: Q2 2021 Earnings Presentation
Q2 2021 Earnings Presentation August 11, 2021 Exhibit 99.2
Slide 2: Forward-Looking Statements
Forward-Looking Statements DISCLAIMERS Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements about LifeStance Health Group, Inc. and its subsidiaries (“LifeStance”) and the industry in which LifeStance operates, including statements regarding futu
Slide 3: Mike Lester, President, CEO and Co-Founder
Mike Lester President, Chief Executive Officer and Co-Founder
Slide 4: LifeStance Health – Successful IPO
LifeStance Health – Successful IPO Trading Date June 10, 2021 Shares Offered 46M Offering Price (upsized from $15-$17) $18 NASDAQ Ticker LFST First Day Closing Price (up 22%) $22 First Day Closing Market Cap $8.2B
Slide 5: Today's Presenters
President, Chief Executive Officer and Co-Founder Danish Qureshi Chief Growth Officer and Co-Founder Mike Lester J. Michael Bruff Chief Financial Officer Today’s Presenters
Slide 6: Key Highlights
Key Highlights 1. Adjusted EBITDA is a non-GAAP financial measure. See “Appendix” for a reconciliation to net income (loss). 2. Reflects a year over year comparison to the same period in the prior year which includes the summation of the Predecessor Period April 1 to May 14, 2020 and Successor Perio
Slide 7: Company Snapshot
Company Snapshot NPS defined as “Net Promoter Score” refers to a measure of patient satisfaction widely used in the behavioral health care industry, calculated based on responses to patient surveys administered following a patient’s appointment from January 14, 2021 through March 31, 2021 As of Dece
Slide 8: We are Mission-Driven
We are Mission-Driven Our Vision Our Mission Our Values A truly healthy society where mental and physical healthcare are unified to make lives better To help people lead healthier, more fulfilling lives by improving access to trusted, affordable, and personalized mental healthcare Delivering Compass
Slide 9: We Remain Committed to Corporate Responsibility
We Remain Committed to Corporate Responsibility Note: Our efforts contribute to advancing several UN Sustainable Development Goals (SDGs), including SDG 3: Good Health and Well-Being; SDG 5: Gender Equality; SDG 8: Decent Work and Economic Growth; and SDG 10: Reduce Inequalities. Established Nationa
Slide 10: LifeStance Health Foundation
LifeStance Health Foundation There are millions of faces We provide compassionate, comprehensive mental health care, personalized for each individual Depression | Anxiety | Bipolar Disorder | Schizophrenia | PTSD There is no one face to: Announced a partnership with The Mental Health Coalition to en
Slide 11: Danish Qureshi, Chief Growth Officer and Co-Founder
Danish Qureshi Chief Growth Officer and Co-Founder
Slide 12: Our Growth Strategy
Our Growth Strategy A Powerful Growth Engine to Enable Market Share Gains Multiple Growth Opportunities 1 Expand into New Markets 31 states in total, operating as a leading national provider 5 states added in Q2’21 2 Build Market Density 3,975 clinicians in total (674 added in Q2’21) 183 de novos op
Slide 13: Continued Geographic Expansion – States Total
Continued Geographic Expansion – 31 States Total Operating in 31 states as a leading national provider 450+ centers nationwide National Platform with Unmatched Scale Through Q1’21 New in Q2’21 AZ CA CO DE FL GA ID IL ID KY TN TX VA PA OH NC OK NY MA NJ MD NH ME NV WA MO SC MN WI MI OR
Slide 14: Market Update
Market Update
Slide 15: J. Michael Bruff, Chief Financial Officer
J. Michael Bruff Chief Financial Officer
Slide 16: Quarterly Trends – Key Operating Metrics
Clinicians Revenue (in $M) Center Margin2 Adjusted EBITDA2 (in $M) Consistent quarterly growth driven by recruiting and hiring, as well as acquisitions Strong and differentiated clinician value proposition Less than 1% market penetration Primarily driven by growth in the clinician base and ramp of n
Slide 17: Balance Sheet Highlights and Operating Cash Flow
Balance Sheet Highlights and Operating Cash Flow Percentage description with ctetur ad ipisc ing elite 75% Cash and Cash Equivalents $276.2M Percentage description with ctetur ad ipisc ing elite 75% Long-term Debt $158.7M Percentage description with ctetur ad ipisc ing elite 75% Operating Cash Flow
Slide 18: Initiating 2021 Guidance
Full Year 2020A 1st Half 2021A Q3 2021E Q4 2021E Full Year 2021E Revenue $377M $304M $168 - $173M $196 - $201M $668 - $678M Center Margin1 $119M $95M $47 - $52M $56 - $61M $198 - $208M Adj. EBITDA1 $50M $27M $8 - $11M $12 - $15M $47 - $53M Initiating 2021 Guidance Key Assumptions Net impact of lower
Slide 19: Closing Remarks
Closing Remarks
Slide 20: Appendix
Appendix
Slide 21: Quarterly Income Statement (GAAP)
Quarterly Income Statement (GAAP) 1. Successor Period is April 13 to June 30, 2020, Predecessor Period is April 1 to May 14, 2020. Note: For the period from April 13, 2020 through May 14, 2020, the operations of LifeStance TopCo, L.P. (Successor) were limited to those incident to its formation and t
Slide 22: GAAP to Non-GAAP Reconciliations – Center Margin
GAAP to Non-GAAP Reconciliations – Center Margin 1. Successor Period is April 13 to June 30, 2020, Predecessor Period is April 1 to May 14, 2020. Due to rounding, some figures may not foot in the schedule above. 2021 2020 ($M) Q2 Q1 Q4 Q3 Successor¹ Predecessor¹ Q1 Income (loss) from operations ($47
Slide 23: GAAP to Non-GAAP Reconciliations – Adjusted EBITDA
GAAP to Non-GAAP Reconciliations – Adjusted EBITDA Represents management fees paid to certain of our executive officers and affiliates of our principal stockholders pursuant to the management services agreement entered into in connection with the acquisition of LifeStance by affiliates of TPG Global
Slide 24: Quarterly Non-GAAP Financial Metrics
Quarterly Non-GAAP Financial Metrics 1. Successor Period is April 13 to June 30, 2020, Predecessor Period is April 1 to May 14, 2020. Due to rounding, some figures may not foot in the schedule above. 2021 2020 ($M) Q2 Q1 Q4 Q3 Successor¹ Predecessor¹ Q1 Key Metrics Clinicians 3,975 3,301 3,097 2,539
Slide 25: Quarterly Balance Sheet
Quarterly Balance Sheet Due to rounding, some figures may not foot in the schedule above. 2021 2020 ($M) Q2 Q1 Q4 Q3 Q2 Q1 Cash and cash equivalents 276.2 39.5 18.8 25.1 13.8 20.3 Patient accounts receivable 60.1 47.8 43.7 34.3 31.0 25.2 Prepaid expenses and other current assets 27.8 22.3 13.7 16.1
Slide 26: GAAP Statement of Cash Flows
GAAP Statement of Cash Flows Due to rounding, some figures may not foot in the schedule above Successor Predecessor ($M) "Six months ended June 30, 2021" "April 13 to June 30, 2020" "January 1 to May 14, 2020" 2019 FY CASH FLOWS FROM OPERATING ACTIVITIES Net loss (78.7) (4.3) (24.9) 5.7 Adjustments
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