LifeStance Health

What LifeStance Health does

LifeStance Health Group, Inc. is a publicly traded (NASDAQ: LFST) national outpatient behavioral healthcare provider headquartered in Scottsdale, Arizona. Founded in 2017 and IPO'd in 2021, the company operates approximately 550 mental health centers across 33 U.S. states, staffed by a network of over 8,300 clinicians delivering therapy, psychiatric medication management, psychological and neuropsychological testing, specialty treatments (TMS, Spravato), child and adolescent psychiatry, and addiction treatment. Service delivery follows a hybrid model combining in-person clinic visits with telepsychiatry and a virtual waiting room, supported by an AdvancedMD-powered patient portal and a searchable provider directory.

The technology platform combines physical infrastructure with digital tools (telehealth, provider directory, patient portal), plus two internally developed AI capabilities — a clinical documentation tool and a new care-matching algorithm — that contributed to a 7% clinician productivity improvement in H2 2025. The care model is measurement-informed, capturing validated outcomes (79% anxiety improvement, 73% depression improvement) across nearly 180,000 patients using GAD-7 and PHQ-9 instruments. Patient intake occurs via online booking, phone, or in-network insurance directories.

LifeStance generates revenue primarily through insurance reimbursement across 240+ accepted plans including Aetna, Anthem, BCBS, Cigna, Kaiser, Medicare, and Optum/UnitedHealthcare, with most copays priced between $22-36. Reported FY2025 revenue was $1.424 billion (14% YoY growth), with FY2026 guidance of $1.64-1.68 billion and Q1 2026 revenue up 21% YoY. The company achieved its first full year of positive net income ($9.7M) in 2025, ahead of internal guidance. Customer acquisition is primarily direct-to-consumer via the website and provider directory, augmented by the Calm Health partnership (October 2025), a Care Access Pathway (CAP) enterprise referral program, and participation in insurance networks. Patient segments include individual adults and adolescents, families and couples, children, LGBTQIA+ populations, and veterans.

Name

LifeStance Health

Legal name

LifeStance Health Group, Inc.

Website

https://lifestance.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

LifeStance Health is a national outpatient mental health provider operating approximately 550 centers across 33 U.S. states, staffed by 8,300+ clinicians delivering therapy, psychiatry, testing, and specialty treatments via hybrid in-person and telehealth models to individuals, families, and adolescents.

Ownership category

akta.pro rank

Product category

Outpatient Behavioral Health Services

NAICS

Outpatient Mental Health and Substance Abuse Centers (621420), Offices of Physicians, Mental Health Specialists (621112), Offices of Mental Health Practitioners (except Physicians) (621330)

SIC

Services-Specialty Outpatient Facilities, Nec (8093)

akta.pro primary industry

Outpatient Mental Health Clinics & Counseling Centers (HLAFACAA)

akta.pro secondary industry

Outpatient Mental Health & Counseling Clinics (HLAFABAC)

Keywords

• Outpatient mental health
• Behavioral healthcare services
• Psychiatric care
• Telehealth therapy
• Psychology and counseling

Headquarters

HQ city

Bellevue

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Outpatient Mental Health Services: Revenue from therapy (talk therapy), psychiatry/medication management, psychological testing and evaluation, and specialty treatments (Spravato, TMS); billed through insurance reimbursement
2. Insurance Reimbursement: Accepts 240+ insurance plans including major carriers (Aetna, Anthem, BCBS, Cigna, Kaiser, Medicare, Optum/UnitedHealthcare); revenue driven by visit volumes, clinician productivity, and revenue per visit

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels5 records

Core offering

LifeStance Health operates one of the largest outpatient mental health platforms in the United States, delivering both in-person and telehealth therapy, psychiatry/medication management, psychological testing, and specialty treatments (TMS, Spravato) through approximately 550 centers across 33 states. The company employs over 8,300 licensed clinicians and accepts more than 240 insurance plans, serving children, adolescents, adults, couples, and families.

Product overview

LifeStance Health operates one of the largest outpatient mental health platforms in the United States, combining in-person and virtual (telehealth) care delivery across a network of approximately 550 centers in 33 states with over 8,300 clinicians. The platform consists of two core clinical service lines — psychotherapy (talk therapy) and psychiatry/medication management — supplemented by specialty treatments (TMS, Spravato/esketamine), comprehensive psychological and neuropsychological testing (including autism evaluation), child and adolescent psychiatry, and addiction treatment. Patient-facing digital tools include an AdvancedMD-powered patient portal, a telehealth waiting room, and a searchable provider directory. The company accepts over 240 insurance plans and positions itself within the broader behavioral health ecosystem through referral partnerships with enterprise and health system partners.

Differentiator

Problem solved

Functional benefit

Brands

• Calm Health Partnership: Partnership with Calm Health to connect Calm users with higher-acuity mental healthcare needs to LifeStance providers.

Products and services

• Talk Therapy (Psychotherapy) Individual, group, couples, and family therapy services delivered by licensed therapists including LCSWs, MFTs, and counselors, covering conditions such as depression, anxiety, trauma, OCD, and relationship issues.
• Psychiatric Medication Management Psychiatric evaluation and ongoing medication management services provided by psychiatrists (MDs) and psychiatric mental health nurse practitioners (PMHNPs) for conditions including depression, anxiety, bipolar disorder, ADHD, psychotic disorders, and eating disorders.
• Online Psychiatry (Telepsychiatry) Remote psychiatric care appointments conducted via video teleconferencing, enabling medication management and psychiatric evaluations for patients who prefer or require telehealth.
• TMS Therapy (Transcranial Magnetic Stimulation) FDA-approved non-invasive magnetic therapy for treatment-resistant depression and OCD, administered at select LifeStance centers.
• Spravato (Esketamine) Treatment FDA-approved Spravato (esketamine) nasal spray treatment for treatment-resistant depression, offered at LifeStance specialty treatment centers as an alternative for patients who have not responded to conventional antidepressants.
• Autism Testing and Evaluation Comprehensive autism spectrum disorder (ASD) diagnostic evaluations conducted by psychologists and developmental specialists, covering children, adolescents, and adults. Includes standardized assessments such as ADOS-2, M-CHAT, ADI-R, and CARS-2.
• Psychological Testing and Evaluation Neuropsychological and psychological testing services including cognitive assessment, diagnostic evaluations for ADHD, learning disabilities, mood disorders, personality disorders, and memory problems.
• Child and Adolescent Psychiatry Psychiatric care specialized for children and adolescents, addressing conditions including early-onset psychosis, anxiety, depression, ADHD, OCD, PTSD, eating disorders, autism spectrum disorders, and trauma.
• Addiction (Substance Use Disorder) Treatment Comprehensive substance use disorder treatment services including evaluation, therapy, and recovery support with protections for patient records under 42 CFR Part II.
• Care Access Pathway (CAP) for Enterprise and Health System Partners Enterprise referral program enabling health systems and care partners to refer patients to LifeStance for behavioral health services through an integrated pathway.

Quantifiable outcome

• 79% of patients experienced clinically significant improvements in anxiety symptoms; 73% in depression symptoms (measured using GAD-7 and PHQ-9 standardized tools)
• +4 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Calm HealthcoreStrategic or Co-development Partner · 28 October 2025Calm Health, a mental health platform powered by Calm, partnered with LifeStance Health in October 2025 to connect users with higher-acuity mental healthcare needs to specialized providers. The partnership enables Calm users to undergo mental health screening and be referred to LifeStance for comprehensive care, positioning LifeStance as the specialist referral destination for complex mental health cases.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Cerebral: Telehealth mental health platform offering therapy and medication management, primarily via direct-to-consumer subscriptions. Competes with LifeStance's online psychiatry and therapy offerings, particularly for ADHD, anxiety, and depression care.
• Grow Therapy: Mental health platform connecting patients with in-network therapists and psychiatrists, offering practice management software to providers. Overlaps with LifeStance in provider directory, insurance network acceptance, and patient acquisition channels.
• Headway: Mental health provider marketplace that helps therapists accept insurance and grow practices across multiple states. Targets the same patient demographic and clinician pool as LifeStance, and competes for both therapists and in-network status with major payers.
• Talkspace: Public telehealth therapy and psychiatry platform (NASDAQ: TLC) offering online mental health services to individuals and enterprise clients via insurance and B2B partnerships. Directly competes with LifeStance in virtual therapy and psychiatry, though with a much lighter physical footprint.
• Brightside Health: Telehealth psychiatry and therapy provider focused on anxiety and depression with a measurement-based care model. Directly competes with LifeStance's psychiatry/medication management services and accepts insurance across multiple states.
• Done: Telehealth platform specializing in ADHD treatment including diagnosis and medication management. Competes directly with LifeStance's psychiatry services for ADHD patients, a key service line.
• Alma: Mental health practice platform that supports independent therapists with insurance billing, credentialing, and practice management tools. Competes with LifeStance for clinician supply by making it easier to operate outside of large group practices.
• Two Chairs: Outpatient mental health provider operating a hybrid in-person and virtual therapy model with a measurement-based care approach. Differentiates via curated therapist matching, directly competing with LifeStance's care-matching algorithm and clinician network in shared geographies.
• Octave: Outpatient mental health provider operating in-person clinics with a hybrid care model, including therapy and psychiatry services. Competes with LifeStance in shared regional markets (California primarily) using a similar multi-modal delivery approach.

Broad incumbents

• Teladoc Health: Large telehealth platform (NYSE: TDOC) whose BetterHelp subsidiary dominates the direct-to-consumer online therapy market. While broader in scope and primarily virtual, it competes for the same mental health demand and offers enterprise mental health solutions overlapping with LifeStance's CAP program.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/lifestanceUS
• YouTubeyoutube.com/@lifestance_health
• Facebookfacebook.com/lifestancehealth
• LinkedInlinkedin.com/company/lifestance-health
• Instagraminstagram.com/lifestancehealth
• TikToktiktok.com/@lifestancehealth

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LifeStance Health