Lifestance Health Group, Inc. · NASDAQ:LFST
Lifestance Health — Q1 2022 Earnings Presentation
16 slides from Lifestance Health's earnings presentation, May 9, 2022
Slide 1: Q1 2022 Earnings Presentation
Q1 2022 Earnings Presentation May 9, 2022 Exhibit 99.2
Slide 2: Forward-Looking Statements
Forward-Looking Statements DISCLAIMERS Cautionary Note Regarding Forward-Looking Statements This presentation and related oral statements contain forward-looking statements about LifeStance Health Group, Inc. and its subsidiaries (“LifeStance”) and the industry in which LifeStance operates, includin
Slide 3: LifeStance at a Glance
Mission-driven Increasing access to personalized, trusted and affordable mental healthcare LifeStance at a Glance* Hybrid Virtual and in-person care model 10+ Integrated care programs 32 States 500+ Centers 4,989 Clinicians $727M TTM revenues1 Building the Nation’s Leading Outpatient Mental Health P
Slide 4: Q1 Financial Highlights
Q1 Financial Highlights Q1 Revenue of $203.1 million increased 42% year-over-year Q1 Center Margin of $54.2 million, or 26.7% as a percentage of revenue Q1 Adjusted EBITDA of $12.5 million, or 6.2% as a percentage of revenue Ended Q1 with a cash position of $114.0 million Note: See reconciliation of
Slide 5: Q1 2022 Strategy & Key Developments
Q1 2022 Strategy & Key Developments Total clinicians of 4,989, +51% Y/Y; 199 net clinician adds in Q1 Completed 2 acquisitions in Q1, bringing the total since inception to 79 Opened 41 de novo centers in Q1 to support the company’s differentiated hybrid model offering both in-person and virtual care
Slide 6: Q1 2022 Results
Adjusted EBITDA (in $M) Center Margin (in $M) Clinicians Revenue (in $M) Q1 2022 Results Note: See reconciliation of GAAP to non-GAAP measures in the Appendix to this presentation. 8.8% 6.2% Adj. EBITDA (% of total revenue) 30.7% 26.7% Center Margin (% of total revenue) +23% +42% +51% -1%
Slide 7: Quarterly Trends
Clinicians Adjusted EBITDA (in $M) 8.8% 9.1% 6.2% 6.0% 6.2% Adj. EBITDA (% of total revenue) Center Margin (in $M) Revenue (in $M) Quarterly Trends Note: See reconciliation of GAAP to non-GAAP measures in the Appendix to this presentation. 30.7% 31.9% 29.9% 28.5% 26.7% Center Margin (% of total reve
Slide 8: Balance Sheet, Cash Flow & Capital Allocation
Balance Sheet, Cash Flow & Capital Allocation Percentage description with ctetur ad ipisc ing elite 75% Cash and Cash Equivalents $114M Percentage description with ctetur ad ipisc ing elite 75% Net Long-term Debt $177M Percentage description with ctetur ad ipisc ing elite 75% Operating Cash Flow (Q1
Slide 9: 2022 Guidance
2022 Guidance (All $ in M) FY 2022 Q2 2022 Revenue $865 – $885 Unchanged $209 – $214 Center Margin $240 – $255 Unchanged $57 – $61 Adj. EBITDA $63 – $67 Unchanged $12 – $15 Note: Center Margin and Adjusted EBITDA anticipated for second quarter of 2022 and full year 2022 are calculated in a manner co
Slide 10: Appendix
}) LifeStance HEALTH Appendix
Slide 11: Quarterly Statements of Operations
Quarterly Statements of Operations 2022 2021 ($M) Q1 Q4 Q3 Q2 Q1 Total Revenues $203.1 $190.1 $173.8 $160.5 $143.1 Operating expenses Center costs, excluding depreciation and amortization 148.9 135.8 121.8 109.3 99.1 General and administrative 103.4 152.7 162.9 85.5 32.7 Depreciation and amortizatio
Slide 12: GAAP to Non-GAAP Reconciliations – Center Margin
GAAP to Non-GAAP Reconciliations – Center Margin 2022 2021 2021 ($M) Q1 Q4 Q3 Q2 Q1 Loss from operations ($64.9) ($113.8) ($124.7) ($47.0) ($0.9) Adjusted for: Depreciation and amortization 15.7 15.4 13.8 12.8 12.2 General and administrative (1) 103.4 152.7 162.9 85.5 32.7 Center Margin $54.2 $54.2
Slide 13: GAAP to Non-GAAP Reconciliations – Adjusted EBITDA
GAAP to Non-GAAP Reconciliations – Adjusted EBITDA 2022 2021 2021 ($M) Q1 Q4 Q3 Q2 Q1 Net loss ($62.3) ($108.0) ($120.5) ($70.0) ($8.7) Adjusted for: Interest expense 3.4 3.6 3.5 23.2 8.6 Depreciation and amortization 15.7 15.4 13.8 12.8 12.2 Income tax benefit (6.7) (10.6) (8.8) (3.8) (2.8) Loss on
Slide 14: Quarterly Non-GAAP Financial Metrics
Quarterly Non-GAAP Financial Metrics 2022 2021 2021 ($M) Q1 Q4 Q3 Q2 Q1 Key Metrics Clinicians 4,989 4,790 4,375 3,975 3,301 Total Revenues $203.1 $190.1 $173.8 $160.5 $143.1 Center costs 148.9 135.8 121.8 109.3 99.1 Center Margin (Non-GAAP) $54.2 $54.2 $52.1 $51.2 $44.0 % Margin 26.7% 28.5% 29.9% 3
Slide 15: Quarterly Balance Sheets
Quarterly Balance Sheets 2022 2021 2021 ($M) Q1 Q4 Q3 Q2 Q1 Cash and cash equivalents 114.0 148.0 212.1 276.2 39.5 Patient accounts receivable 95.0 76.1 70.1 60.1 47.8 Prepaid expenses and other current assets 54.3 42.4 46.1 27.8 22.3 Total current assets 263.3 266.5 328.3 364.1 109.6 Property and e
Slide 16: Cash Flows
($M) 1Q’22 1Q’21 2021 FY CASH FLOWS FROM OPERATING ACTIVITIES Net loss (62.3) (8.7) (307.2) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 15.7 12.2 54.1 Stock and unit-based compensation 59.9 0.6 259.4 Deferred income taxes - - (26.9) L
LifeStance Health Group — Q1 2022 Earnings Presentation on 6ix