2023-03-08 11:32:11 ET
LifeStance Health ( NASDAQ: LFST ) shares gained ~28% to reach the highest level since November after the outpatient mental care provider reported better-than-expected Q4 revenue and set its full-year outlook ahead of consensus.
Scottsdale, Arizona-based LifeStance ( LFST ) announced $229.4M revenue for the quarter with ~21% YoY growth, compared to $216.7M in the consensus as its clinician base grew ~18% YoY to ~5.6K with 200 net additions in Q4.
Its loss from operations contracted ~60% YoY to $46.0M as the center margin improved to ~63% compared to ~54% in the prior-year period. Meanwhile, the net loss narrowed by ~57% YoY mainly due to stock and unit-based compensation.
LifeStance’s ( LFST ) full-year revenue rose ~29% YoY to $859.5M as the company added 841 net new clinicians with 13 new acquisitions and opened 90 de novo centers bringing the total number of centers to more than 600.
LifeStance ( LFST ) ended the year with $108.6M of cash and equivalents, marking a ~27% YoY decline.
“The fourth quarter and full year of 2022 concluded on a positive note. We are encouraged by the early signs of improvement but fully recognize that we have much work ahead,” Chief Executive Ken Burdick remarked.
The company expects its 2023 Q1 and full-year revenue to reach $242M – $252M and $980M – $1.02B compared to ~$235.5M and ~$972.2M in the consensus, respectively.
Before the earnings release, Hedgeye added LifeStance ( LFST ) as a long idea indicating a ~400% upside.
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LifeStance Health adds 28% to reach three-month high after Q4 beat