Lifestance Health (LFST) financial statements
Lifestance Health reported revenue of $1.4B in fiscal 2025, up 46.3% a year over 5 years.
Net income was $10M and the operating margin 1.7%, against 7.2% in 2019.
Free cash flow was $110M.
The diluted share count rose 119322% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Lifestance Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $213M | $668M | $860M | $1.1B | $1.3B | $1.4B |
| Selling, general and admin | $41M | $434M | $378M | $411M | $363M | $382M |
| Operating income | $15M | -$286M | -$210M | -$189M | -$32M | $24M |
| Interest expense | $5M | $39M | $20M | $21M | $27M | $12M |
| Pre-tax income | $8M | -$333M | -$233M | -$207M | -$58M | $12M |
| Income tax | $2M | -$26M | -$17M | -$20M | -$170,000 | $3M |
| Net income | -$59M | -$307M | -$216M | -$186M | -$57M | $10M |
| Diluted shares | — | 0M | 355M | 367M | 379M | 391M |
| Operating margin | 7.2% | -42.9% | -24.5% | -17.9% | -2.5% | 1.7% |
| Net margin | -27.7% | -46.0% | -25.1% | -17.6% | -4.6% | 0.7% |
Balance sheet
Fiscal years, from Lifestance Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $3M | $148M | $109M | $79M | $155M | $249M |
| Receivables | — | $76M | $101M | $125M | $132M | $96M |
| Total current assets | — | $267M | $233M | $226M | $313M | $416M |
| Property, plant and equipment | — | $152M | $194M | $188M | $166M | $162M |
| Goodwill | — | $1.2B | $1.3B | $1.3B | $1.3B | $1.3B |
| Total assets | — | $1.9B | $2.2B | $2.1B | $2.1B | $2.2B |
| Total current liabilities | — | $117M | $176M | $203M | $229M | $252M |
| Long-term debt | — | $157M | $225M | $280M | $280M | $266M |
| Total liabilities | — | $382M | $655M | $681M | $672M | $683M |
| Shareholders' equity | -$166M | $1.5B | $1.5B | $1.4B | $1.4B | $1.5B |
| Net debt | -$3M | $11M | $119M | $204M | $132M | $32M |
Cash flow
Fiscal years, from Lifestance Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | $17M | $9M | $53M | -$17M | $107M | $146M |
| Capital spending | $14M | $94M | $79M | $41M | $22M | $36M |
| Free cash flow | $3M | -$85M | -$26M | -$57M | $86M | $110M |
| Stock-based compensation | $54,000 | $259M | $187M | $99M | $76M | $75M |
| Net borrowing | $55M | -$213M | $70M | $55M | -$2M | -$7M |
| Free cash flow margin | 1.3% | -12.7% | -3.1% | -5.4% | 6.9% | 7.7% |
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Open LFST in InvestinglyQuestions
What was Lifestance Health's revenue in 2025?
$1.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Lifestance Health generate?
$110M in fiscal 2025 (operating cash flow minus capital spending).
From Lifestance Health's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.