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▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
In fiscal 2025, LifeStance Health Group, Inc. recorded $1.42B of revenue, net income of $9.66M, and an operating cash inflow of $146.15M. Revenue of $1.42B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 13.9% above fiscal 2024 revenue of $1.25B, marking a year-over-year increase. The company employed $2.20B of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.65x, showing the sales generated relative to the resources carried on the balance sheet.Profitability
Operations produced $24.15M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 1.7% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $9.66M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 0.7% margin after operating costs and the remaining recognized items. Pretax income was $12.36M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 0.9%, relating income before taxes directly to revenue. Income tax expense totaled $2.70M, providing the reported tax component that separates pretax and after-tax earnings. The effective relationship between income tax and positive pretax income was 21.8%, without assuming a statutory-rate comparison. Return on period-end equity was 0.6%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 0.4%, showing earnings relative to the full balance sheet.Liquidity and Capital Structure
Total assets were $2.20B, supported by $682.92M of liabilities and $1.52B of shareholder equity. The near-term balance sheet paired $416.20M of current assets with $251.96M of current liabilities at the reporting date. Current assets covered current liabilities by 1.65x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $248.64M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 98.7% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $280.43M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.18x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 12.7%, comparing borrowing with the total asset balance. Liabilities represented 31.0% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 11.3% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 4.0% from $2.12B in fiscal 2024, leaving current total assets higher year over year. Against $1.45B of equity in fiscal 2024, the current book-equity balance moved 5.2% and ended higher.Cash Flow and Earnings Quality
The company reported $146.15M of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 15.12x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $36.12M of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 24.7% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $110.03M of positive free cash flow for the period. Free cash flow represented 7.7% of revenue, linking post-investment cash generation with the company’s operating scale. Free cash flow equaled 5.0% of total assets, relating post-investment cash generation to the company’s resource base.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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