LifeStance Health Group, Inc. (LFST) Earnings
LifeStance Health Group, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $0.03. LFST has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +111.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.01 | $0.04 | +300.0% | $404M | +4.1% |
| Feb 25, 2026 | $0.06 | $0.03 | -50.0% | $382M | -0.8% |
| Nov 6, 2025 | $-0.01 | $0.00 | +127.7% | $364M | -3.9% |
| Aug 7, 2025 | $-0.03 | $-0.01 | +66.7% | $345M | -3.6% |
| May 7, 2025 | $-0.04 | $0.00 | +104.6% | $333M | -4.5% |
| Feb 27, 2025 | $-0.04 | $-0.02 | +50.0% | $325M | -2.4% |
| Nov 7, 2024 | $-0.07 | $-0.02 | +71.4% | $313M | -0.4% |
| Aug 8, 2024 | $-0.07 | $-0.06 | +14.3% | $312M | +3.2% |
| May 9, 2024 | $-0.09 | $-0.06 | +33.3% | $300M | +0.5% |
| Feb 28, 2024 | $-0.09 | $-0.12 | -33.3% | $281M | +6.7% |
| Mar 8, 2023 | $-0.13 | $-0.13 | +0.0% | $229M | -6.9% |
| Mar 10, 2022 | $-0.37 | $-0.32 | +13.5% | $190M | -0.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Technology use: Digital and AI tools support operational excellence, e.g., digital patient check-in, AI-driven workflows, robotic process automation. New EHR selection with implementation in 2027, focus on organizational readiness and clinician engagement. - Geographic expansion: Tuck-in acquisitions preferred for new markets, opened two new markets in first quarter, pipeline of potential acquisitions. Also enter new geographies de novo. - Clinical excellence: Published clinical outcomes data showing three-quarters of patients benefited from improvements in anxiety and depression, over 4.7 out of 5 Google Stars rating for centers, clinicians' dedication key.
Guidance
- Raised full-year revenue range by $25 million at midpoint to $1.64 to $1.68 billion. - Raised center margin range by $21 million at midpoint to $547 to $571 million. - Raised adjusted EBITDA range by $15 million at midpoint to $200 to $220 million. - Second quarter expected revenue $405 to $425 million, center margin $135 to $147 million, adjusted EBITDA $50 to $60 million. - Long-term expects mid-teens revenue growth and mid-teens adjusted EBITDA margins by 2028.
Segment performance
For the first quarter, revenue grew 21% to $403 million. Visit volumes of $2.5 million increased 18%. Total revenue per visit was $163, up 3%. Center margin was $136 million, a 24% increase and 33.7% of revenue. Adjusted EBITDA was $51 million, a 48% increase. Free cash flow was $22 million. For the full year, revenue range is raised to $1.64 to $1.68 billion, center margin range to $547 to $571 million, and adjusted EBITDA range to $200 to $220 million. Second quarter expected revenue $405 to $425 million, center margin $135 to $147 million, adjusted EBITDA $50 to $60 million. Long-term expects mid-teens revenue growth and mid-teens adjusted EBITDA margins by 2028.
Analyst Q&A
Q: Clinician growth was a bit above expectations in the quarter. Any tailwinds in the quarter and things to attract and retain clinicians?
A: Strong clinician results, 300+ clinician adds, third quarter of strong productivity improvements, driven by recruiting and stable retention.
Q: On margin front, how thinking about technology for longer-term margins?
A: Technology is key lever, AI enablement and technological initiatives make us more efficient for scale growth.
Q: Any new productivity initiatives planned?
A: Numerous initiatives underway, continue to look for new opportunities to improve productivity while executing on existing ones.
Q: Visit growth going forward?
A: Revenue growth at midpoint 17%, revenue more normal shape, second half lap productivity initiatives, growth primarily from clinician adds complemented by productivity.
Q: Clinician ads source and M&A contribution?
A: Net clinician growth primarily organic hiring with stable retention, M&A contribution to net clinician ads modest. Clinicians from 1099 small practice, salaried at hospital systems, new graduates.
Q: EBITDA guidance, what to keep in mind for second half?
A: G&A steps up, investments support growth, key difference between first half and second half.
Q: Technology infrastructure and patient conversion?
A: Care Matching 2.0 rolled out, improved patient conversion by 5%, rolling out across country, exploring reducing friction in patient experience.
Q: Leveraging outcome study?
A: All of the above, helps with treatment, referral partners, payer dynamic.
Q: Clinician productivity enhancements and retention?
A: Continued stable retention, anecdotally positive feedback from clinicians but no meaningful change in retention yet.
Q: Care margin and specialty services?
A: Center margin improvement from rate, operating leverage from volume and spending. Specialty services expected to grow, TMS and Spravato services with new sites added.
Q: Cadence of centers and M&A, M&A environment?
A: On pace to open 20-30 centers, strong pipeline of tuck-in acquisitions, no opportunity in larger competitors' tier due to geographic overlap.
Q: Visit rate cadence?
A: Pleased with TRPV, guiding low to mid single digit for remainder of year, environment constructive.
Q: De novo clinics and productivity ramp?
A: Majority de novos in adjacent towns with existing centers ramp quickly, minority in new geographies with slower ramp.
Q: Industry changes impact?
A: Industry fragmented, no changes seen in new patient volumes, clinician hiring, etc., LifeStance positioned to take advantage of consolidation trends.