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LifeStance HEALTH LifeStance Reports Third Quarter 2021 Results November 8 , 2021 Third Quarter 2021 Highlights ( All results compared to prior - year comparative period , unless otherwise noted ) • Revenue of $ 173.8 million increased $ 71.8 million or 70 % compared to revenue of $ 102.0 million • Total clinicians of 4,375 up 72 % , a net increase of 400 clinicians in the third quarter • Net loss of $ 120.5 million compared to net loss of $ 3.3 million , primarily driven by stock and unit - based compensation • Adjusted EBITDA of $ 10.7 million compared to Adjusted EBITDA of $ 15.0 million • Expecting full year revenue toward the lower end of previously guided $ 668 million to $ 678 million range ; Center Margin and Adjusted EBITDA expectations remain unchanged ; anticipated incremental clinician holiday time off modestly impacting revenue projection ; supporting employee self - care and well - being during this acutely stressful time as a result of COVID fatigue is aligned with the company's mission SCOTTSDALE , Ariz . , Nov. 08 , 2021 ( GLOBE NEWSWIRE ) LifeStance Health Group , Inc. ( NASDAQ : LFST ) , one of the nation's largest providers of outpatient mental health care , today announced financial results for the quarter ended September 30 , 2021 . " Our strong third quarter results demonstrate continued execution of our long - term strategic vision that is transforming the way mental health care is delivered , " said Michael Lester , Chairman and CEO of LifeStance . " Despite the labor challenges faced by the healthcare industry and others , our ability to attract high quality clinical talent - the heart of our organization is a testament to our mission and commitment to a positive societal impact . We continue to prioritize the mental health of our patients , clinicians and team members . " Financial Highlights ( in thousands ) Total revenue -- ( Loss ) income from operations Center Margin Net loss Adjusted EBITDA As % of Total Revenue : $ 2021 Successor Three Months Ended September 30 2020 173.8 ( 124.7 ) 52.1 ( 120.5 ) 10.7 ( 71.7 % ) 29.9 % $ ( 69.3 % ) 6.2 % 102.0 2.7 33.1 ( 3.3 ) 15.0 Change ( Loss ) income from operations Center Margin Net loss Adjusted EBITDA ( All results compared to prior - year period , unless otherwise noted ) • Total revenue grew 70 % to $ 173.8 million . Strong revenue growth was supported by a 72 % increase in net clinicians , driven by hiring and acquisitions . 2.6 % 32.5 % ( 3.2 % ) 14.7 % 70.5 % ( 4,732.8 % ) 57.1 % 3,556.7 % ( 28.6 % ) • Loss from operations was $ 124.7 million , primarily driven by stock and unit - based compensation of $ 120.7 million . Net loss was $ 120.5 million . • Center Margin grew 57 % to $ 52.1 million , or 29.9 % of total revenue . Center Margin as a percentage of revenue declined as expected as new clinicians ramp to maturity . • Adjusted EBITDA declined 29 % to $ 10.7 million , or 6.2 % of total revenue . Adjusted EBITDA as a percentage of revenue declined due to the expected decrease in Center Margin as well as planned investments in growth initiatives and public company infrastructure . Strategy and Key Developments During the third quarter , LifeStance took several actions in support of its three - pronged strategy to expand into new markets , build market density and offer a tech - enabled platform to patients and clinicians , including : • Drove 72 % year - over - year growth to 4,375 clinicians with the addition of 400 net clinicians in the quarter , demonstrating that the company's value proposition is resonating , despite challenging dynamics in the U.S. labor market • Clinician retention stabilized to approximately 80 % annualized in the third quarter , as expected ; enhanced clinician