LifeStance Health Reports Q4 and FY 2023 Financial Results

February 28, 2024

DENVER, Colo., Feb 28, 2024 (247marketnews.com)- LifeStance Health Group, Inc. (NASDAQ:LFST) reported, this morning, its fourth quarter and full year 2023 financial results.

LifeStance is trading at 8.605, up $1.905 (+28.43%), on trading volume of 8.1M shares. Its 52-week range is $4.63 to $9.59 and reached $9.20 this morning. If it can break through this morning’s $9.20 high, on strong volume, it could ride another upside wave.

Its 2023 highlights include a 22% in fourth quarter revenue to $280.6 million increased 22% and 23% increase in full year revenue of $1,055.7 million, compared to $859.5 million in 2022, while its clinician base increased 18% to 6,645 clinicians.

It expects $1.19-1.24 billion in 2024 revenue and positive Free Cash Flow.

“I am encouraged by the progress made in 2023, the first year of our two-year plan to fortify the foundation of the business,” said Ken Burdick, Chairman and CEO of LifeStance. “We remain focused on operational improvements, profitable growth, and disciplined capital deployment. Our 2024 guidance reflects the strong positive momentum of the organization. We look forward to continuing to invest in the patient and clinician experience while at the same time delivering margin expansion and positive free cash flow.”

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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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