Washington-based LifeStance Health is a tech-enabled in-person mental healthcare provider and telepsychiatry platform. The company’s platform offers online assessments, video consultations for individual and group therapy, appointment scheduling, and medication management. These services are also available at LifeStance’s clinics while the company also provides additional in-person services including intensive therapeutic programs, cognitive behavioral therapy, dialectical behavioral therapy, and Transcranial Magnetic Stimulation therapy. 

LifeStance Health is one of the largest outpatient mental health platforms in the US by the number of employed clinicians and geographic scale. As of December 2021, the company had a network of more than 4,790 licensed mental health clinicians operating out of 500 centers across 32 states. Additionally, the company had served 570,000 unique patients in 2021.

Funding and financials

The company filed for an initial public offering in May 2021 and began trading on the Nasdaq under the ticker “LFST” in June 2021. The IPO was priced at USD 18.00 per share for 40 million, and LifeStance raised USD 720 million. The funds will be used to open more centers, build out its technology, and repay its outstanding debt.

In Q1 2022, net losses for the period contracted to USD 62 million, worsening by six times YoY. The company achieved revenue of USD 203 million for the period growing 42% YoY. It  reaffirmed its guidance for its 2022 performance, where it expects to earn revenue between USD 865 million–885 million (an implied growth of 29%-32% YoY) and an adjusted EBITDA between USD 63 million–67 million (up 29%-37% YoY).