LifeStance Health Q1 Revenue Up 21% to $403.5M; EBITDA Climbs 48%
LifeStance Health's Q1 revenue rose 21% to $403.5 million as clinician count grew 11% to 8,349. Net income climbed to $14.2 million from $0.7 million, adjusted EBITDA increased 48% to $51.1 million, and 2026 revenue guidance was raised to $1.64–1.68 billion.
1. First Quarter Financial Performance
LifeStance Health reported Q1 revenue of $403.5 million, a 21% year-over-year increase. Net income rose to $14.2 million from $0.7 million, while adjusted EBITDA expanded 48% to $51.1 million, representing 12.7% of total revenue.
2. Operational Metrics
The clinician base grew 11% to 8,349 professionals, driving visit volumes up 18% to 2.5 million sessions. Higher patient demand and improved clinician productivity contributed to increased revenue per visit.
3. Cash Flow and Balance Sheet
Operating cash flow reached $33.1 million for the quarter, with free cash flow generation of $22.3 million. The company ended Q1 with $194.8 million in cash and $262.5 million in net long-term debt.
4. Raised Full Year Guidance
Management raised full-year 2026 revenue guidance to $1.64–1.68 billion, center margin to $547–571 million, and adjusted EBITDA to $200–220 million, reflecting confidence in continued growth and operating leverage.