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LifeStance HEALTH LifeStance Health Reports Second Quarter 2021 Results August 11 , 2021 SCOTTSDALE , Ariz . , Aug. 11 , 2021 / PRNewswire / -- Second Quarter 2021 Highlights • Revenue of $ 160.5 million increased $ 76.5 million or 91 % ¹ compared to revenue of $ 38.6 million for the period from April 1 , 2020 to May 14 , 2020 ( Predecessor ) and $ 45.4 million for the period from April 13 , 2020 to June 30 , 2020 ( Successor ) • Total clinicians of 3,975 up 94 % year over year , including 674 net clinician adds in the second quarter • Net loss was $ 70.0 million compared to net loss of $ 27.6 million for the period from April 1 , 2020 to May 14 , 2020 ( Predecessor ) and $ 4.3 million for the period from April 13 , 2020 to June 30 , 2020 ( Successor ) • Adjusted EBITDA of $ 14.5 million increased $ 4.1 million or 39 % compared to Adjusted EBITDA of $ 4.4 million for the period from April 1 , 2020 to May 14 , 2020 ( Predecessor ) and $ 6.0 million for the period from April 13 , 2020 to June 30 , 2020 ( Successor ) • Successfully completed initial public offering ( IPO ) on the Nasdaq Global Select Market on June 10 , 2021 ; net proceeds of $ 548.9 million used to retire debt and for general corporate purposes • Established the LifeStance Health Foundation with initial endowment of $ 10.0 million ; announced partnership with The Mental Health Coalition to help end the stigma around mental health conditions and committed $ 30,000 to the U.S. Olympic & Paralympic Foundation in support of athletes ' mental health • Initiating 2021 guidance : Revenue of $ 668 million to $ 678 million ; Center Margin of $ 198 million to $ 208 million ; Adjusted EBITDA of $ 47 million to $ 53 million LifeStance Health Group , Inc. ( NASDAQ : LFST ) , one of the nation's largest providers of outpatient mental health care , today announced financial results for the second quarter ended June 30 , 2021 . " LifeStance delivered strong performance in our inaugural quarter as a public company , achieving year over year revenue growth of 91 % 1 , " said Michael Lester , CEO , LifeStance Health . " Increasing access to mental health care services is more important than ever . We are well positioned to continue to grow as we help address our nation's mental health needs every day and deliver personalized care , one patient at a time , both virtually and in - person . I am extremely proud of the efforts of our purpose - led organization to reimagine mental health through a tech - enabled care delivery model built to expand access , tackle affordability , improve outcomes and lower overall health care costs . " Financial Highlights ( in $ millions ) Total revenue ( Loss ) income from operations Center Margin Net loss Adjusted EBITDA As % of total revenue : ( Loss ) income from operations Center Margin Net loss Adjusted EBITDA Successor Three months ended June 30 , 2021 April 13 to June 30 , 2020 Predecessor April 1 to May 14 , 2020 160.5 45.4 38.6 ( 47.0 ) 0.1 3.1 51.2 14.2 11.4 ( 70.0 ) ( 4.3 ) ( 27.6 ) 14.5 6.0 4.4 ( 29.3 % ) 0.2 % 31.9 % 31.2 % 7.9 % 29.6 % ( 43.6 % ) ( 9.6 % ) ( 71.6 % ) 9.1 % 13.2 % 11.5 % Second Quarter 2021 Results • Total revenue was $ 160.5 million , up 91 % 1 year over year primarily driven by a 94 % increase in clinicians through both organic hiring and acquisitions . • Trailing twelve - month² revenue was $ 523.8 million . This represents an increase of 88 % year over year . • Loss from operations³ was $ 47.0 million , driven by stock and unit - based compensation of $ 29.5 million , a $ 10.0 million endowment to the LifeStance Health Foundation , and $ 8.1 million in Director and Officer insurance expense incurred in connection with the IPO . Net loss was $ 70.0 million . • Center Margin was $ 51.2 million , up 100 % year over year , and 31.9 % of total revenue , primarily driven by the continued clinician ramp in prior year de novo centers . • Adjusted EBITDA was $ 14.5 million , up 39 % 1 year over year . Strong Center Margin growth was partially offset by an increase in general and administrative costs driven by investments in growth initiatives and public company infrastructure . Strategy and Key Developments During the second quarter , LifeStance took several actions in support of its strategy :