| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 363.81 | 5.4% | 16.3% |
| Total Income | 363.81 | 5.4% | 16.3% |
| Expenditure | 356.40 | 2.3% | 14.0% |
| PBT | 4.57 | 176.9% | 184.9% |
| Net Profit | 1.08 | 128.5% | 118.1% |
| OPM | 2.04% | 2.89pp | 2.02pp |
| NPM | 0.30% | 1.39pp | 2.20pp |
| EPS | — |
LifeStance Reports Q3 2025 Revenue $363.8M, Up 16% Y/Y
04 May 2026 · 4 May, 7:42 am
Summary
LifeStance Health Group reported a record-breaking quarter with a 16% increase in revenue to $363.8 million. The company saw a 17% organic visit growth, driven by improved clinician productivity and net additions, bringing the team to approximately 8,000 clinicians. Net income was $1.1 million, and Adjusted EBITDA reached $40 million with 11% margins. The company is raising its full-year Adjusted EBITDA guidance while continuing to expand margins into 2026.
Key Highlights
- 1
LifeStance Health Group's revenue for Q3 2025 reached $363.8 million, reflecting a 16% increase compared to the previous year.
- 2
The clinician base grew by 11% to 7,996 clinicians, with a net increase of 288 clinicians during the third quarter.
- 3
Visit volumes in the third quarter increased by 17% to 2.3 million.
- 4
Net income for the quarter was $1.1 million, a significant improvement from the net loss of $6.0 million in the same period last year.
- 5
Adjusted EBITDA rose by 31% to $40.2 million compared to $30.7 million in the prior-year quarter.
- 6
Net cash provided by operations in Q3 2025 was $27.3 million, resulting in a strong cash position of $203.9 million.
- 7
The company reiterates its full-year 2025 revenue expectations of $1.41 billion to $1.43 billion and raises Adjusted EBITDA expectations to $146 million to $152 million.
Management Comments
Dave Bourdon
This was a record-breaking quarter for LifeStance. We delivered 17% organic visit growth, fueled by our strongest-ever organic productivity improvements and clinician net adds—bringing our team to approximately 8,000 clinicians. We also achieved our second quarter of positive net income this year, at $1 million, along with Adjusted EBITDA of $40 million with 11% margins, both marking new highs for us as a public company. This performance reflects improved operating leverage in G&A and positions us to raise our full-year Adjusted EBITDA guidance while continuing to expand margins into 2026. The team's exceptional results this quarter provide strong momentum as we enter the fourth quarter and look ahead to the coming year.”
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