Behavioral Health Business February 28, 2024
Lifestance Health Group Inc. (Nasdaq: LFST) will focus inward during 2024 to push toward profitability.
The Scottsdale, Arizona-based outpatient mental health provider will continue to abstain from M&A activity, open fewer de novo clinics and juggle several business optimization efforts, executives said Wednesday on its year-end earnings call.
“We have steadied the ship, but we have not yet come close to optimizing the potential of our business,” Ken Burdick, Lifestance Health CEO, said on the call.
LifeStance Health continues to reduce losses on a net basis and positive earnings figures on an adjusted basis. In 2023, its comprehensive net loss was $187 million, 12% lower than in 2022. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) nearly increased 12%...
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