LifeStance Health Group, Inc., one of the largest providers of mental healthcare, has reported positive financial results for Q4 and FY2022. The company intends to streamline and standardize its business operations over the next two years to drive profitable and sustainable growth and boost value creation for shareholders. The company reported strong revenue growth in Q4 driven by increased visit volumes. The financial highlights include:
- Revenue for Q4 2022 amounted to $229.5 million, an increase of 46% YoY.
- Full-year revenue was $859.7 million, an increase of 215% YoY.
- Q4 net loss amounted to $52.2 million, compared to a net loss of $10.2 million in Q4 of 2021.
- The full-year net loss was $237.0 million, up from $62.7 million in 2021.
Ken Burdick, the CEO of LifeStance, emphasized that "Our focus remains on streamlining and standardizing our business over the next two years, which will pave the way for profitable and sustainable growth, and long-term value creation for our shareholders."
The company will hold a conference call on March 8, 2023, at 8:30 a.m. Eastern Time to discuss the Q4 and full-year 2022 results. Investors can access the call by dialing 1-800-715-9871, domestically, or 1-646-307-1963, internationally.
According to the CEO, the company is not currently providing forward-looking statements for Q1 2023 or full-year 2023 due to the lack of sufficient data to make accurate estimates of variables and individual adjustments.
Note: The above summary is based on the company's excerpts from their press release and is not a comprehensive analysis of the financial results. Investors are advised to refer to the full report and consult their financial advisors before making investment decisions.