LFST - Earnings call transcript Q4 2024 | LifeStance Health Group, Inc.

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Operator

Thank you for standing by. My name is Danielle, and I will be your conference operator today. At this time, I would like to welcome everyone to the LifeStance Health Fourth Quarter 2024 Earnings Call. [Operator Instructions] I would now like to call over Monica Prokocki. Please go ahead.

Monica Prokocki

operator. you, Thank and Earnings everyone, LifeStance Fourth Health's Good Call. welcome XXXX Conference Quarter morning, to I'm President Prokocki, Monica Vice Investor Relations. of Finance and

me on We Burdick, Bourdon, Joining market website, opened and Ken investor.lifestance.com. Officer; Both the Relations are Dave are section morning. and our available presentation Chief before Chief Investor the issued Executive Officer. this earnings the release Financial today of

could for about forward-looking risks, their actual to materially. differ Before included prepared business please including to uncertainties outlook, model turning the results press in attention about financial call direct factors filings. involve contain earnings the other that statements noted the as Those with management cause disclaimers SEC Today's statements and filings statements over in your our and forward-looking remarks, our release remarks to and performance periodic strategy. SEC the statements,

results comparable believe earnings At measures to financial in comparisons Burdick, reconciliation addition, the in tables appendix. the presentation we otherwise the all Officer of over Executive non-GAAP release Chief results turn past to compared performance. prior and GAAP noted, year. most the measures, please to investors for included I'll using this are information A the we Ken report time, directly which Unless call help press period to Ken? LifeStance. current additional and comparable that note is of In facilitate provide

Kenneth Burdick

and up growth year our once financial which revenue X.X% $XXX metrics. for strong you beat represents and We to Monica, to XX% today. full $X.XX EBITDA the of with for quarter, all thank XXX% us guided the performance again margin. million, Thanks, In fourth on adjusted a all joining billion we delivered

on also outlook performance We more well our on positioned will financial share shortly. and deliver our XXXX Dave to commitments. feel

the strategic operational we I'd addressing leadership Before like to by covering our highlights, changes today. begin and announced

Board the CFO, as Bourdon, by been next CEO of the all LifeStance. has know appointed of whom you Directors well Dave LifeStance's as First,

X. succeed thrilled that will are We Dave CEO March effective me as

for instrumental years, CFO LifeStance's last an our X.X transformation. operational financial has Dave played the in As role and

in care both at LifeStance, firsthand carry health greater commitment mental I is the collaborative our leader care worked so brings relationships experience right into and to deep to and heights our to patients LifeStance have on I and doubt speak access and to and long business he passionate both affordable Dave's have partnership our external stakeholders. clinicians acumen, high-quality, our with We future. our makes next to the in even him can LifeStance executing guide internal about to mission health He expand tenure Dave will chapter no the that the term. during over

and tremendous simplifying Second, quarters. streamlining move We've of business role or into also for I will our made exceeding Executive strides meeting Chairman. past financial X commitments the while the the

Now time for operations. back me away from appropriate is step the to day-to-day

appointed been and Executive will team as patients, I this that our teammates has commitments continue work I to Chairman, our serve our engagement on every the in to of be serve long-term have new to will shareholders. Dave I Directors. confidence to and In and together, management roles, deliver closely continue Dave. our investor I supporting and on Board of and to Board, setting strategy, will Chairman As involved will continue Dave clinicians,

March and revenue our successfully excited ability and as for the at Ryan our over care brings CFO Third, health years have most CFO a multibillion-dollar recently Cigna roles appointed of in having served Ryan new McGroarty Help at organization. and utmost CFO. XX, will XX we to Home, finance to with company home lead Ryan providing Ryan are people welcome his as confidence experience, for care disabilities. seniors the on have and in we start multiple

It time heading momentum had into at here XXXX. We is exceptional exciting to and finish an positive have an LifeStance. XXXX

few we for I'd over Dave to remarks brief it before turn continue like discussion. with to Now a our earnings

David Bourdon

Thanks, in forward continued Ken CEO as exceptional to we lead to our in to and an service excellence, for build and as our collaboration work and privilege new focus Ken. momentum. dedicated team alongside progress the our the further for we shareholders. incredibly look It's growth management strong forward clinical mental made and continue to and as to care. patients our turn, operational I we've and proud talented serve such a LifeStance's been team, roles on on positive profitable I am health next to honored transforming of look and I'm driving

path This should look physical not will commercially health and toward as in care. believe you our major I any a and potential share strategy. seamless transition. same expect LifeStance and forward of the I Ken, wholeheartedly mental hybrid, on in for model continue our be insured see as the leading unifying pivots we our business LifeStance to vision to

like also the new Ryan I'd LifeStance our welcome team. to McGroarty CFO, to

uniquely mentioned, working large As Cigna care knowledge Ken. I'll acumen Ryan attest experience I of the to alongside Ken health Ryan reins back organization. that finance turn organizations. our his amount improving that, at mental it qualified had over over X With passion for in personally extensive and health and the to leadership, leading can take decades an business brings care for pleasure of of him and make over

Kenneth Burdick

Dave. Thanks,

as to mental ends million extremely in provided and in The nearly of operational we Turning team clinicians XXXX. X,XXX over XXXX our to leader the patients have of our exceptional Through care the proud outpatient our nearly every clinicians, for have the LifeStance day. quarter. and in provide begun visits million financial, XXXX. LifeStance to true what starts the our health show advancements, I'm we patients to With of with accomplished in care. X clinical our updates success X potential

these Promoter LifeStance the in to Both reflected Score reviews across XXXX, XX, metrics feedback at exceptional of Google X.X. The of our all LifeStance of out and already average from X.X be from improved and quality our Net patients. clinicians of year's by modestly last our In provided X centers XX stood scores patient of a care continues stars. received

operational continue we In improving performance. goals XXXX, streamlining and to to business our advance execution. of the Turning

the approach which operating our hundreds centers our groups, First, standardizes organization consistent with serve operating of new we our which is country. the processes operations. The centers model our are implemented built and model, clusters our clinicians our to across practice localized community providing support staffing better patients and at a rollout of upon concept to of

decision-making scale in XXXX operating enable beyond. LifeStance successfully this that confident drives and are to will We new model, accountability, and local which

Second, check-in great we this our of is example patient the virtual digital patient experience improved administration the of new tool. and visits. rollout A of

mid-February, by of it our have successfully national midyear. As are on XX the across states we of complete XX track rollout implemented and to

higher We where improvements deployed. operational and efficiencies patient continue significant tool patient see this been has to in satisfaction, collections

Third, we'll we positive with clinicians monthly who initiatives and a continue for our at were change, cycle on value about to We've to clinician basis. implementation previously payroll satisfaction to the clinicians received our enhance proposition this biweekly continue paid to focus feedback enhance LifeStance. of on a

in in second in public double-digit achieved performance, the financial This regard which history consecutive other on company we for year. margins. notable adjusted guided In our first X we milestones. as XXXX, was EBITDA all We a metrics delivered quarter to financial beat the

of full ahead adjusted more X third, free goal the flow significant for and pleased our And this for EBITDA. than we reached Second, we positive year full year expectations. year, doubled have are cash achieved the our to original

contributed stage, operationally ready have a free Our now as X to as and focus the of more and financially, at position year. we to trajectory early company. financial a improved cash model on as discipline operational capital years return the the both are where generation, positive operating as to and well this acquisitions are over flow positive we standardized last With an

forward, our approach M&A Going will be very disciplined. to

will selective segments. expanding on that pursuing focused We services in customer be acquisitions or capabilities, are

in to criteria. be organic deals primarily on that will we meet growth dependent be will and stringent We continue our strategic pursuing

be proud I work do, made of still progress to company. the While there a have we couldn't is as more

we of and the on to clinician while to Americans turn their commentary As the it of improve millions we XXXX, provide experience enhance the that, LifeStance clinicians. ahead over mission to Dave care to delivering continue of through additional lives access look will seek performance to our I'll financial expanding who to patient our outlook. and With Dave? on

David Bourdon

visit our clinician revenue outperformance of Thanks, Ken. team's line total was quarter, revenue $XXX pleased I'm year-over-year. XXXX, performance strong In and XX% driven of the exceeded expectations. million, which fourth the we financial per productivity. better-than-expected representing top with Ken, growth The higher results and Like delivered in by operational with

growth quarter in clinician regard quarter. to year, came driven year-over-year, primarily of to clinicians XX% our visit primarily X driven $XXX, the We XXX XX% and of slightly our the to revenue year-over-year. clinician productivity, modest full X% fourth by rate for XXX base representing With ahead clinician volumes Total million fourth net increased in year-over-year in expectations of total our per by grew payer Visit increased by it increases. growth. the X,XXX, bringing

year, XX%. visit per we X%. delivered full increased increased Visit XX% of $X.XXX up billion, revenue revenue and For total the volumes

quarter XX% and Center better-than-expected of was in in margin top year-over-year. by lower-than-expected spending. Full center the $XXX $XXX profitability, margin. revenue increased of beat to center quarter results outperformance margin through flowed million Regarding the grew the line driven the XX%. The million year

of the strong and year-over-year. Adjusted percentage a expectations, Adjusted increasing million revenue EBITDA was quarter in EBITDA as was XX.X%. $XX XX% very our of exceeded

public the achieved margin. to margins in first improvement time Ken was quarter. the the primarily attributable as in the company mentioned, a in has outperformance The is As that this center LifeStance quarter double-digit

resolved we had impact Additionally, an the fourth immaterial which in our noted litigation the results. filings, our financial labor-related SEC to quarter, in

margins the For million, to points adjusted increasing $XXX year, was with X XXX% full increasing X.X%. EBITDA

cash of to we quarter, generated $XX Turning fourth the million. In strong free flow liquidity.

in year, our free the million positive expectations. full exceeding For generated flow, $XX cash we far

this challenges XX the cyberattack. months, we light We have Healthcare are the last resulting the industry-wide from progress of proud especially in of Change front over made on that the

tremendous We million and of to net and exited $XXX the of days is team's result sequentially with the XX dedication a long-term $XXX in cash debt improved and outcome in DSO XX the quarter, resilience. the million. which days quarter

leverage in basis leverage ratios We and over X.X last and improvement gross continue net leverage the gross improving and sequentially XX and our XX with year. from represents in X.Xx points to a improvement This of X.Xx, our respectively. to net QX X.X significant see both ratios

estimate Additionally, our debt spread credit The pleased fund in have We has the with current net a this improvement that X.XX%. we been existing favorable expense new future in which agreement flexibility announced enhanced potential based in greater pricing interest million reduced of our down December to terms, acquisitions. our significant on is is to are from and year. X.XX% refinancing than to including annualized and benefit $X refinanced that leverage, per we investments from lower

by capacity terms our predictability visibility, expanded to $XXX increasing the our and the also and a years. track over $XX revolver better improving We are lender past interest positive These record X million from company's testament million. to

of of organic center margin based potential of terms growth to These In not XXXX, assumptions. acquisitions our expect we and on to million any year $X.XXX contemplate we revenue planning solely in did full million. billion, are million EBITDA to $XXX for $XXX of billion $XXX $XXX our million adjusted as outlook financials $X.XXX

roughly total revenue revenue primarily higher guidance with volumes, assumes flat. annual year-over-year Our being driven growth, per visit by visit

reimbursement rates, per more of a outlier visit overall from in due of with total would a as in our of single we book payer we Regarding line stated pressure XXXX rate first reminder, to revenue to last part the X decreases their in downward experience business. be negotiating the previously

along overall payer Factoring rate contemplates decrease, which pressure expect year-over-year. on considering we center clinician leverage. roughly guidance the anticipate to including payer in, compensation flat unique increases, we operating year-over-year, with When the offset our with margin rate rate environment, this G&A

slightly XX-XX our higher. with and in a half roughly split year the second of phasing, revenue the half first the As second contemplates of guidance for

year earnings specialty year, And the expense. the with payroll higher is by as we to throughout build tax disproportionately impacted expect first We the half of expect quarter back improvement revenue. rate modest in the along

million For to $XXX to we revenue million. quarter, $XX $XXX of of $XXX million million EBITDA the $XXX adjusted million, margin of expect first million $XX center and to

we approximately $XX million XXXX. Additionally, to $XX million of stock-based compensation expect in

once to full expect positive Regarding free meaningful year the flow, cash cash free we for again XXXX. generate flow

de related part in well novos capital for However, cash in to expenditures flow XXXX, we the payroll expect free to flow we XXXX quarter switch payments lower higher and first items to to to the cash these in versus for due last clinicians performance. part in XX driven negative XXXX. opening XX as bonus year, biweekly by free expect Similar as

expect low to we annual improvement. As to we look XXXX, to to mid-single-digit return rate

improvements, we will believe grow achieve rate be milestone our revenue as share year. Ken well public earnings his the key it that, that income Furthermore, expanding positioned journey these in full in margins. will This XXXX, to mid-teens a With turn we remarks. net we positive to while a the for I'll and closing for company. With is in back per

Kenneth Burdick

yet. in closing, face like work employee the their XXXX our every And day. bring to LifeStance passion a for of each I'd thank and In we challenges, best dedication year. year Dave. to Thanks, had fantastic was the they

to am while our resilience, We and mental deliver continue transform have demonstrated we on health the will confident industry. that commitments we financial our I

as As to to organization. this everyone, a for honor years. I'd shareholders, Board serve LifeStance, thank last dynamic in the lead to like and also of purpose-driven including over this and is has tremendous allowing been call past this the CEO X.X It our role my me

of proud our still us. is runway so much am I there of ahead While accomplishments,

into ever now Operator, transition take I role LifeStance. new will Chairman, Executive the of am than confident future my as I As questions. more we in

Operator

Hettenbach question Morgan of from Instructions] Craig [Operator comes Our Stanley.

Craig Hettenbach

on congrats in first the Ken role for turning to just I on company the around. and want the hard Dave, work margins. focus new all

ahead and the profile about you how on of longer-term Given XX% margin are thinking a leverage that you operating year the basis? hit a schedule,

David Bourdon

Thanks, Craig. Dave. It's

unique we expect last in year. rate call. digesting expansion. of the teens the flat as margins. And far margins, had a see XX% margin contemplates the we're we the the as still the into X prepared roughly while And so with long-range from this into move related XXXX, is that mid- to step XXXX, to my we're planning, dynamic remarks, And our last pressure long-term can which to that's As large, of all, consistent with high first I do path in rate as year-over-year, guidance of increases comments as we to to one mentioned through margin quarter's we payer EBITDA working resume certainly the

Craig Hettenbach

of the ability And clinicians? XX% a seeing it. you're And competitive touch backdrop follow-up on in in there on that Got can the what continue perhaps just growth, to just backdrop then clinician on recruit front? year-over-year, terms the as you your to also

David Bourdon

Yes, well. it's I'll take Dave. that one as

would would competitive XXXX. along the to So change highly nothing to. from with and similar a in very pleased the that environment in a clinicians. It's stable we in regards to XXXX. growth retention that's the clinician back saw recruiting retaining we I point dynamic very And that on strong with marketplace that and recruiting, a expect in be still We're of

Kenneth Burdick

Ken. Craig, one thing -- point this that to is I would

of that it of Change actually proved invest, difficult as value the that experienced experience. get our were or really we disruption one that clinician a to sort clinicians as is that their meaningful a one payers. LifeStance get throwaway the until continue disruption our enhance in phenomenon year, past We session, that many they perhaps conducts reimbursed this pay of which Healthcare propositions, Healthcare reinforce we because whether of when not remarks, the to up reimbursed in cyberattack. And a there industry from to the as it But while said prepared was, became and as in significant very was Change

Operator

of Gill Our from Lisa next JPMorgan. question comes

Lisa Gill

It's Lisa Gill.

turning echo those of to done great and just a really contracting Dave as on side. well. especially around, you've Congratulations the job Let comments Ken, me Ken.

that that Dave, see to you it digits. would around of noted improvements low a question. there you just just contracting is is 'XX, I'm have you Like couple Or the just be that of curious Is rate visibility first because at point? there. So expectation? mid-single questions done this my would the your

David Bourdon

Lisa. Yes,

would XXXX. wouldn't us that not all, at for can I signed give that of we have I point -- that point we this So first -- contracts say to

we annual of So contracting majority our actually the basis. an on do

X-, not multiyear. an contracts. actually type lock typically X-year annual do on in again, better in the than, something We engage feel So basis it's around payers with rather to lock we

My digesting X% and for last we a of at rate look decrease we that's from final is annualization you from year year, that a the the have rate XXXX, and significant comment one more while third last that rate decrease and if achieved payer. -- from increase, that reduction year, This payer. of

So that's this which rates to flat is going why why overcome having we're year. be we're to that,

dynamic we XXXX, that anymore. don't As have into go we

last be the payers. decrease to saw and And being mid-single-digit to low would expect the so to back with rate we in absent increase one that we what year, rate

Lisa Gill

then that customer And Like And just especially Great. as be Like acquisition: competitive Do you current you'd changed it's you targets? the Okay. been far for base, I as environment environment? are environment for you health looking mental cetera. on at all? making PE. the and what that M&A an secondly, specific how a have commented services, capabilities, with know has M&A thinking about pretty assets, et

Kenneth Burdick

all And strengthen Yes, I'll the our a enhance history one. signal trying that there ways LifeStance that which the to tuck-ins, we view of while history part can proposition more expansive we on so stakeholders. is the Lisa, tuck-in value building we in will of take have call to and may was what in were be of acquisitions. first,

strengthen It a customer a could particular service do the that's So business. could to that be segment. new provides be going it a we business way

and for this better about a difficult reasons environment that And do this that in this to would years still have demonstrate than it a than on them. macroeconomic can probably it revenue, higher valuations about At very our understands. the of they that everyone while becoming earnings. not are deliver point, not sort to for been yet it's able I X call was to ago is be, bottom X result, say acquisitions multiples it's a space ought companies is that line for environment of they

a good time for sort is this resume to So of us M&A.

Operator

from Our Goldman next question Perse Jamie of Sachs. comes

Jamie Perse

new been on the row. can congrats nonlabor to of wages going on about costs. provide Dave, color Ryan any your provide and Dave X can add a any But guess, breakdown in in forward. costs. costs roles. color cost and costs of Ken love some COGS on center-level the wanted center-level buckets quarters I'll They've I'd the I unit start declines in to down you I between And the in X with 'XX. and my you sustainability of increase on transition versus spoke those embedded additional you growth the labor

David Bourdon

Jamie. Thanks, Yes. one. that I'll It's take Dave.

So by XXXX. our out, towards consolidation estate cost you of that in a did outcome. go all, per driven we the first visit was end which real see the received the from as we down XXXX, benefits great primarily point of

So the XXXX actually itself and not visit it more as I would phenomenon of XXXX. a cost view decline will in repeat per

increase that to for 'XX compensation well. we're do for reason did the is the as And every which year. going that our in clinicians, we We

that per expect leverage And to related. so our cost some visit go have And compensation visit. always that of costs pressure we'll operating fee-for-service up per mitigation But see would on that in of put XXXX. non-clinician, upward cost that I will are center through that the some

Jamie Perse

And was stock-based spend given excluding Okay. is guess, you center-level and up strong there pretty good at fourth a the of is about business the the in in just are in top G&A then pull investment materially rate line any you infrastructure the run quarter. million then on prioritizing the it I that guess in comp, Or for thinking $XX broadly line? just fourth operational I the forward how spent the Great. or 'XX? margin And first, thereabouts G&A, quarter?

David Bourdon

Yes.

spending. what you're as the far dynamics correct on you're in So noting as G&A

have So in the G&A. step-up quarter, did in the fourth we

to looking looking ourselves that we at. One position buckets to we signaling, were we was been forward 'XX. were had already were better opportunities the wanted 'XX we in that a There the for make start of As and we identified to XXXX, to investments that we pulling 'XX of have spend business for invest business X hired a are around with on those into in, An jump developing example health physical that number pulling out working is who referral just this partners in development teammates get partnerships. year.

some so spend. recurring some of we -- that component there's So certainly of bump --

the And that nature initiatives, in is then a The was accumulation we had fourth where that number various total quarter. of the an roughly of It was small things. spent that which I just more onetime nonrecurring, decks of the point clearing in out. on were we would more $X million we none

into comparable, you then special well, you're So first step the quarter increased into but then first that that the The quarter. these I that and of X quarter recurring, in kind quarter, million is of level so But $X and things: levels in 'XX. And because if spend the items G&A bulk is the why continues you of spending the like, of some of first is mentioned, fourth investment, similar really, taxes. had explanation is okay, the payroll of first for and the the are that's as

in increase $X the first in itself. you the taxes quarter million big million have to $X G&A. So That's by payroll in

-- think the as part year full your relatively of you 'XX, going as we then, the then so to And last question say, you're G&A. flat let's see about is,

the million, year. think throughout I the million a quarter about implied $XX is $XX guidance

that is the increased through to into what's business. of doing replaced with normal spend reduction going compensation normal as but fourth we're that step see a so And quarters, from course taxes second volume-related annual other will in that drive spend as we investments that merit, you'll and payroll -- the be

replace payroll remainder the taxes flat will year G&A. in roughly again, that of the the So and

Operator

Tanquilut Brian Jefferies. of from comes question next Our

Brian Tanquilut

of to side. on you of and kind Very to to on earlier some the dynamics, you how Ryan the mentioned Congrats like about I driving an Change your of answer highlighting maybe guess Healthcare and think well. to kind the CFO the bring value question pickup you clinicians. as both clinicians good I as

move clinician population in curious where primary is the industry? you're If becoming versus viable, Just is the a independent to if to trend that model what starting the model employed seeing. option the prevalent among is for the practicing not

Kenneth Burdick

great don't know Yes, a been massive it's I that a question, there's Brian. shift.

it's to we're positioned. to I long-term the create and home we think preferred better will trying obviously the we because XXXX rule. It's a clinicians. absolutely model employed like for clinicians. experience vast think clinicians still clients. But perspective, competitors exception patients a the where The have our our we're that And to from lead for that, majority of our versus

Brian Tanquilut

maybe, the we're across Understand. the orders XX maybe level, think going this I this you're the forward? you economy? as see Should think about to novo going that And then Dave, as year. novos, clinics of especially return as openings new XX we more office this Do we de de to of to higher not see trend, think level adding if

David Bourdon

question. good a it's -- The

bit center the because up to timing and First little get first say of long had of it and running, that XX% that novos timing the last X a for this the from and the I is just takes to year build and how to into due would slid XX% all, we quarter. year elevated a the rollout de

the for in So regards it's level XXXX. a bit elevated to little

has, the There's us. that went to to in And far care as actually quarter. return as X do patients person. think things: I the virtual fourth I want And office, One don't again, receive is, that roughly the don't phenomenon the the XX% in -- from virtual XX% for of to modestly We increased. as driving that

So to to that that modestly continue. continues we move, and expect

capacity of our time, in lot we have a today. At same the still excess centers

at from the those at markets. usage whether look goals really look then and And de and each that So as rather think, growth than, our what at look we phenomenon. to I we we novo we're and for goals and a is going return-to-office drives of the clinicians more the add patients, the center, recruiting

novo acquisitions. we do is, again, we why de did reason other XXX The almost a

the We that leases we're centers them have they're up, And purpose evaluating have for -- a lot acquired leases for are we us. for those of for whether as with. come fit always future

appropriate of to not size. rather be center the for that like offices be things to X So support equality the that able standard it or like to be we'd that might the be it than XX we'd it It and offices for might might X just XX be like LifeStance. to justify not or

few go there's those novos that things a replacement So into de as well.

that's it we're the this so to And how XX with XX about thinking year.

Operator

Next Caliendo question comes from of UBS. Kevin

Andrea Zayco Narvaez Alfonso

thinking in to roles. I Alfonso remarks up 'XX you're implies Kevin the congratulatory like for to new to growth. just the echo 'XX Andrea of It's what I'd the growth Caliendo. on also when from comments follow wanted specifically for on bridging the how XXXX, and about high-level magnitude that regarding EBITDA versus revenue

remain whether I think drive just EBITDA you about they the margins. of would headwinds that greater cycle any of or rate of would trying a an improvements, to of center pace perspective, stable kind XXXX guess growth? moderate. to comp do from pushes And increases, that pulls maybe operationally and rather, sort here, rate improvement the expense the rate -- discussed the the You of

David Bourdon

Yes.

I'll So XXXX question. the take

expect about from think through a the to G&A. expect back to as prepared line as mentioned leverage improving top we would be well margins. center level again. I to remarks, in we operating as I XXXX, the we As in both expect that perspective get And And see in on margin growth to that to mid-teens come

which an the G&A to expect and the center margin will should improve you EBITDA that drive both So improvement margin. in see leverage,

EBITDA will therefore, grow So at a line. higher our than top rate

as move any the of years coming that, well as result center overall again, earlier in I believe XX% there that's margin why do EBITDA to point to see both that really the G&A business. a levers. And a those, or say for And response more being to I wouldn't come, which XXXX. is in several like on as I able that's to XX% we for to just of wouldn't path question, components just do to margin is particular years Craig's things

Operator

that Ladies turn of over will and session. Burdick, the concludes gentlemen, closing conference to for CEO I Ken now back LifeStance, our remarks. Q&A

Kenneth Burdick

operator. much, very you Thank

Just I your want LifeStance because of an all drive our Executive all in we're have again and appreciation innings continue and demonstrated express close. organization. interest my a the made, gratitude to to with once quick as what's I for an involvement LifeStance. continuing Chair as still invested we've believe early going we progress in of full be story very potential to truly you thrilled my the be to am the that toward incredible sincere to I achieving as that

again So employees much. and you call. thank make our conclude very will to XX,XXX Thank that the this happen, that you

Operator

our conference concludes call for today. This

may now You disconnect.

LifeStance Health (LFST) 27 Feb 252024 Q4 Earnings call transcript