LifeStance Health Group Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
LFST$14.56-0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(186,262) | $(215,564) | $(307,197) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | |||
| Depreciation and amortization | 80,437 | 69,198 | 54,136 |
| Non-cash operating lease costs | 39,987 | 38,161 | — |
| Stock and unit-based compensation | 99,388 | 187,430 | 259,439 |
| Deferred income taxes | (21,920) | (16,733) | (26,945) |
| Loss on debt extinguishment | — | 3,380 | 14,440 |
| Amortization of discount and debt issue costs | 2,101 | 1,949 | 1,797 |
| (Gain) loss on remeasurement of contingent consideration | (3,972) | 1,688 | 2,610 |
| Other, net | 7,080 | 218 | — |
| Endowment of shares to LifeStance Health Foundation | — | — | 9,000 |
| Change in operating assets and liabilities, net of businesses acquired: | |||
| Patient accounts receivable, net | (24,175) | (21,663) | (24,213) |
| Prepaid expenses and other current assets | (3,070) | (3,431) | (29,121) |
| Accounts payable | (5,605) | 7,667 | 623 |
| Accrued payroll expenses | 26,484 | 12,100 | 15,265 |
| Operating lease liabilities | (37,564) | (13,169) | — |
| Other accrued expenses | 10,207 | 1,558 | 39,586 |
| Net cash (used in) provided by operating activities | $(16,884) | $52,789 | $9,420 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchases of property and equipment | (40,520) | (79,255) | (94,492) |
| Acquisitions of businesses, net of cash acquired | (19,820) | (60,206) | (99,584) |
| Net cash used in investing activities | $(60,340) | $(139,461) | $(194,076) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from initial public offering, net of underwriters discounts and commissions and deferred offering costs | — | — | 548,905 |
| Issuance of common units to new investors | — | — | 1,000 |
| Proceeds from long-term debt, net of discount | 57,753 | 257,324 | 98,800 |
| Payments of debt issue costs | (188) | (7,266) | (2,360) |
| Payments of long-term debt | (2,470) | (187,766) | (311,390) |
| Prepayment for debt paydown | — | (1,609) | (8,820) |
| Payments of contingent consideration | (7,668) | (12,515) | (12,279) |
| Taxes related to net share settlement of equity awards | — | (904) | — |
| Net cash provided by financing activities | $47,427 | $47,264 | $313,856 |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (29,797) | (39,408) | 129,200 |
| Cash and Cash Equivalents - Beginning of period | 108,621 | 148,029 | 18,829 |
| CASH AND CASH EQUIVALENTS – END OF PERIOD | $78,824 | $108,621 | $148,029 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||
| Cash paid for interest, net | $21,044 | $14,365 | $22,415 |
| Cash paid for taxes, net of refunds | $80 | $2,237 | $1,093 |
| SUPPLEMENTAL DISCLOSURES OF NON CASH INVESTING AND FINANCING ACTIVITIES | |||
| Equipment financed through finance leases | $— | $363 | $1,438 |
| Contingent consideration incurred in acquisitions of businesses | $1,985 | $11,221 | $10,685 |
| Acquisition of property and equipment included in liabilities | $3,827 | $7,891 | $15,845 |
| Surrender of common stock | $— | $982 | $— |
| Issuance of common units for acquisitions of businesses | $— | $— | $1,486 |
| Taxes related to net share settlement of equity awards included in liabilities | $— | $— | $441 |
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