LifeStance Health Approves $100M Buyback After 17% Q4 Revenue Growth
LifeStance Health reported Q4 revenue of $382.2M, up 17%, and full-year revenue of $1.424B, up 14%, delivering Q4 net income of $11.7M and adjusted EBITDA of $48.8M, up 49%. The board approved a $100M share buyback and guided 2026 revenue of $1.615–1.655B and $185–205M EBITDA.
1. Q4 and Full-Year Results
LifeStance Health generated fourth-quarter revenue of $382.2 million, a 17% year-over-year increase, and full-year revenue of $1.424 billion, up 14%. The quarter produced net income of $11.7 million versus a prior-year loss, and adjusted EBITDA rose 49% to $48.8 million, while clinician headcount grew 9% to 8,040 and visit volumes climbed 18% to 2.4 million.
2. $100M Share Buyback Program
The board has authorized a $100 million share repurchase plan, reflecting strong cash flow generation and a healthy balance sheet. Free cash flow reached $46.6 million in Q4 and $110 million for the full year, supporting a commitment to capital returns.
3. 2026 Financial Outlook
For fiscal 2026, LifeStance forecasts revenue between $1.615 billion and $1.655 billion, center margin of $526 million to $550 million, and adjusted EBITDA of $185 million to $205 million. This guidance assumes continued clinician growth, productivity gains and sustained visit volume expansion.