LifeStance reported a significant beat on both the top and bottom lines for the third quarter of 2026, driven by robust clinician hiring and improved productivity. Total revenue grew 25% year-over-year, while the company achieved a positive net income of $22.4 million, a substantial improvement from the prior year's $1.1 million. Based on this momentum, management raised its full-year 2026 guidance for revenue and Adjusted EBITDA.
Key Highlights
- Clinician headcount increased 11% year-over-year to 8,863, representing 321 net new additions in the quarter.
- Adjusted EBITDA surged 70% to $68.4 million, with margins expanding to 15% due to higher revenue per visit and improved operating leverage.
- Visit volumes reached 2.7 million for the quarter, a 17% increase driven by higher clinician capacity and productivity gains.
- The company generated $22.4 million in free cash flow, ending the period with $218.8 million in cash and cash equivalents.