LifeStance Health Group, Inc.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 25, 2026
LFST$14.56-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income (loss) | $9,663 | $(57,443) | $(186,262) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 54,753 | 70,950 | 80,437 |
| Non-cash operating lease costs | 41,907 | 39,502 | 39,987 |
| Stock-based compensation | 74,701 | 76,172 | 99,388 |
| Deferred income taxes | 2,422 | (958) | (21,920) |
| Loss on debt extinguishment | — | 5,032 | — |
| Amortization of discount and debt issue costs | 1,019 | 1,666 | 2,101 |
| Gain on remeasurement of contingent consideration | — | (1,725) | (3,972) |
| Other, net | 2,030 | 1,431 | 7,080 |
| Change in operating assets and liabilities, net of businesses acquired: | |||
| Patient accounts receivable, net | 36,092 | (6,397) | (24,175) |
| Prepaid expenses and other current assets | (46,685) | (3,332) | (3,070) |
| Accounts payable | (1,563) | 501 | (5,605) |
| Accrued payroll expenses | 25,866 | 14,984 | 26,484 |
| Operating lease liabilities | (48,129) | (46,748) | (37,564) |
| Other accrued expenses | (5,925) | 13,625 | 10,207 |
| Net cash provided by (used in) operating activities | $146,151 | $107,260 | $(16,884) |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchases of property and equipment | (36,125) | (21,566) | (40,520) |
| Acquisitions of businesses, net of cash acquired | — | — | (19,820) |
| Net cash used in investing activities | $(36,125) | $(21,566) | $(60,340) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from long-term debt, net of discount | — | 287,809 | 57,753 |
| Payments of debt issue costs | — | (1,818) | (188) |
| Payments of long-term debt | (7,250) | (289,494) | (2,470) |
| Payments of contingent consideration | — | (6,444) | (7,668) |
| Taxes related to net share settlement of equity awards | (8,705) | — | — |
| Net cash (used in) provided by financing activities | $(15,955) | $(9,947) | $47,427 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 94,071 | 75,747 | (29,797) |
| Cash and cash equivalents - beginning of period | 154,571 | 78,824 | 108,621 |
| CASH AND CASH EQUIVALENTS – END OF PERIOD | $248,642 | $154,571 | $78,824 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||
| Cash paid for interest, net | $17,800 | $24,992 | $21,044 |
| Cash paid for taxes, net of refunds | $1,574 | $57 | $80 |
| SUPPLEMENTAL DISCLOSURES OF NON CASH INVESTING AND FINANCING ACTIVITIES | |||
| Contingent consideration incurred in acquisitions of businesses | $— | $— | $1,985 |
| Acquisition of property and equipment included in liabilities | $2,898 | $1,469 | $3,827 |
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