LifeStance Health Group (LFST) FY2024 results: revenue $1.3 billion, up 18.5% on the year

LifeStance Health Group, Inc. (LFST) reported revenue of $1.3 billion for fiscal 2024, the year ended 31 December 2024, up 18.5% on the year before. Net income was -$57 million, and diluted earnings per share $-0.15. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue

$1.3 billion

+18.5% on the year

FY2019FY2024

Operating margin

-2.5%

-17.9% a year earlier

FY2019FY2024

Net income

-$57 million

FY2019FY2024

Diluted EPS

-$0.15

FY2019FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,251	1,056	860	+18.5%
Selling, general and administrative	363	411	378	-11.6%
Operating income	-31.6	-189	-210
Operating margin	-2.5%	-17.9%	-24.5%
Interest expense	26.5	21.2	19.9	+25.0%
Pre-tax income	-57.6	-207	-233
Income tax	-0.2	-20.3	-17.2
Net income	-57.4	-186	-216
Net margin	-4.6%	-17.6%	-25.1%
Diluted EPS	-$0.15	-$0.51	-$0.61

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	107	-16.9	52.8
Capital expenditure	21.6	40.5	79.3	-46.8%
Free cash flow	85.7	-57.4	-26.5
Free cash flow margin	6.9%	-5.4%	-3.1%
Cash from investing	-21.6	-60.3	-139
Cash from financing	-9.9	47.4	47.3
Depreciation and amortisation	40.7	37.4	28.9	+8.8%
Share-based compensation	76.2	99.4	187	-23.4%
Diluted shares, weighted	379m	367m	355m	+3.2%
Shares outstanding at period end	383m	379m	376m	+1.1%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,446	1,429	1,519	+1.2%
Debt	290	289	234	+0.2%
Operating lease liabilities	149	181	213	-18.0%
Other liabilities	233	210	209	+11.0%
Total liabilities and equity	2,118	2,110	2,174	+0.4%
Fixed assets	166	188	194	-11.8%
Goodwill	1,293	1,293	1,273	0.0%
Intangible assets	191	221	263	-13.7%
Cash and equivalents	155	78.8	109	+96.1%
Receivables	132	125	101	+5.1%
Other assets	182	203	234	-10.5%
Total assets	2,118	2,110	2,174	+0.4%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.