LifeStance shares fell 5.5% after earnings, suggesting investors focused on execution or outlook risks despite the company raising full-year guidance. The transcript cuts off before management provides the updated outlook, so it does not establish a specific disappointment; the reported quarter showed higher revenue and margins.
- Q3 revenue rose 25% to $456 million; visit volume increased 17% to 2.7 million, while revenue per visit rose 7% to $170.
- Adjusted EBITDA increased 70% to $68 million, a 15% revenue margin for the second consecutive quarter; net income was $22 million.
- LifeStance added 321 clinicians in the quarter, bringing its total to 8,863, up 11%; visits per average clinician increased 5% year over year.
- Free cash flow was $22 million. Quarter-end cash was $219 million and net long-term debt was $256 million; the cash balance reflected $25 million of share repurchases.
- Management said it was raising full-year guidance across all metrics, but the transcript ends before the updated figures are provided.
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