SequelSEC

LifeStance Health Group, Inc. LFST

Services-Health Services · CIK 0001845257 · Fiscal year ends 1231

Revenue
$1.42B
Fiscal year ended 2025-12-31
Operating income
$24.15M
Fiscal year ended 2025-12-31
Free cash flow
$110.03M
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$817.21MMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$2.10Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income84.6×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue0.6×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity0.5×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Services-Health Services filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Effective tax rate21.8%0th
FCF margin7.7%88th
Operating margin1.7%77th
CapEx / revenue2.5%75th
Revenue YoY growth13.9%25th
SBC / revenue5.2%67th
Net margin0.7%62th
Long-term debt / equity0.17x40th
Current ratio1.65x54th

LifeStance Health Group, Inc. (LFST) reported revenue of $1.42B and net income of $9.66M for the fiscal year ended 2025-12-31. This page shows 6 annual periods of income statement, balance sheet and cash flow figures normalized from LifeStance Health Group, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Health Services.

Income

LifeStance Health Group, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312019-12-31
Revenue$1.42B$1.25B$1.06B$859.54M$667.51M$212.52M
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Gross profitUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Operating income$24.15M-$31.61M-$189.13M-$210.17M-$286.35M$15.24M
Net income$9.66M-$57.44M-$186.26M-$215.56M-$307.20M$5.67M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 391.14Mshares 379.15Mshares 367.46Mshares 355.28Mshares 327.52KUnavailable
Pretax income$12.36M-$57.61M-$206.58M-$232.73M-$333.10M$7.88M
Income tax expense$2.70M-$170.00K-$20.32M-$17.17M-$25.91M$2.21M
Diluted EPSUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Selling, general & administrative$382.20M$363.06M$410.79M$377.99M$433.72M$41.06M
General & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

LifeStance Health Group, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312019-12-31
Cash & equivalents$248.64M$154.57M$78.82M$108.62M$148.03MUnavailable
Total assets$2.20B$2.12B$2.11B$2.17B$1.93BUnavailable
Current assets$416.20M$312.51M$225.73M$233.22M$266.52MUnavailable
Total liabilities$682.92M$672.01M$681.04M$655.15M$382.08MUnavailable
Current liabilities$251.96M$228.89M$202.87M$176.00M$116.75MUnavailable
Total equity incl. NCI$1.52B$1.45B$1.43B$1.52B$1.55B-$166.36M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
InventoryUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivable$95.71M$131.80M$125.40M$100.87M$76.08MUnavailable
Goodwill$1.29B$1.29B$1.29B$1.27B$1.20BUnavailable
Long-term debt$265.93M$279.79M$280.28M$225.08M$157.42MUnavailable
Accounts payable$6.12M$7.24M$7.05M$12.28M$14.15MUnavailable

Cash flow

LifeStance Health Group, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312019-12-31
Operating cash flow$146.15M$107.26M-$16.88M$52.79M$9.42M$17.05M
Capital expenditures$36.12M$21.57M$40.52M$79.26M$94.49M$14.31M
Investing cash flow-$36.12M-$21.57M-$60.34M-$139.46M-$194.08M-$73.38M
Financing cash flow-$15.96M-$9.95M$47.43M$47.26M$313.86M$48.46M
Net change in cash$94.07M$75.75M-$29.80M-$39.41M$129.20M-$7.86M
Stock-based compensation$74.70M$76.17M$99.39M$187.43M$259.44M$54.00K
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortization$41.62M$40.68M$37.37M$28.92M$15.09M$3.04M

Derived

LifeStance Health Group, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312019-12-31
Free cash flow$110.03M$85.69M-$57.40M-$26.47M-$85.07M$2.73M
Gross marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Operating margin1.7%-2.5%-17.9%-24.5%-42.9%7.2%
FCF margin7.7%6.9%-5.4%-3.1%-12.7%1.3%
SBC / revenue5.2%6.1%9.4%21.8%38.9%0.0%
Current ratio1.65x1.37x1.11x1.33x2.28xUnavailable
Revenue YoY growth13.9%18.5%22.8%28.8%UnavailableUnavailable
Net margin0.7%-4.6%-17.6%-25.1%-46.0%2.7%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenue2.5%1.7%3.8%9.2%14.2%6.7%
Long-term debt / equity0.17xUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rate21.8%UnavailableUnavailableUnavailableUnavailable28.0%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open LFST in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-06View SEC filing
10-Q · Filed 2026-05-07View SEC filing
10-K · Filed 2026-02-25View SEC filing
10-Q · Filed 2025-11-06View SEC filing
10-Q · Filed 2025-08-07View SEC filing
10-Q · Filed 2025-05-07View SEC filing

Companies in the same industry

Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.