LifeStance Health Group Inc. published the transcript of its fourth quarter 2025 earnings conference call, attended by Monica Prokocki (VP of Finance & Investor Relations), Dave Bourdon (Chief Executive Officer), Ryan McGroarty (Chief Financial Officer), and Ken Burdick (Executive Chairman). Management highlighted strong 2025 performance, including mid-teens revenue growth, improved clinician productivity, first-time double-digit adjusted EBITDA margins as a public company, positive full-year net income achieved a year ahead of expectations, and record free cash flow. Bourdon said, “2025 was an exceptional year for LifeStance,” adding that the company’s “team of 8,000 clinicians delivered care to over one million patients and conducted nearly nine million visits during 2025.” McGroarty reported fourth-quarter revenue of $382 million, up 17%, and visit volumes of 2.4 million, up 18%, while adjusted EBITDA rose 49% to $49 million for a 12.8% margin, “the highest in our history as a public company.” The company also outlined 2026 priorities, including continued operational initiatives to improve scheduling, access, and conversion of inquiries to visits, expanded use of AI in areas such as scheduling support and clinical documentation, and a transition to a new best-in-class EHR with implementation beginning in 2026 and a planned transition during 2027. McGroarty provided 2026 guidance of $1.615 to $1.655 billion in revenue and $185 to $205 million in adjusted EBITDA, and announced a $100 million share repurchase authorization funded with cash on hand. Burdick also said he will shift from Executive Chairman to non-Executive Chair next month, citing confidence in the leadership team. The full transcript can be accessed through the link below.

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