# LifeStance Health Group, Inc.

Summary updated: 2026-10-02T13:22:23.885479Z
Canonical: https://finbar.com/research/companies/lifestance-health-group-inc

## Overview

LifeStance Health Group, Inc. is a U.S. outpatient mental-healthcare provider delivering care through in-person and virtual visits. Its services are supported by a technology-enabled model and include care from licensed mental-health clinicians. [1](https://app.finbar.com/go?id=P115927165)[2](https://app.finbar.com/go?id=P111253139)

The company’s stated mission is to help people lead healthier, more fulfilling lives by improving access to trusted, affordable, personalized mental healthcare. [3](https://careers.lifestance.com/our-mission/) At December 31, 2025, it had 8,040 licensed clinicians across 33 states, who served more than 1.0 million unique patients during 2025. [1](https://app.finbar.com/go?id=P115927165) Revenue for 2025 was $1.424 billion. [4](https://app.finbar.com/go?id=P108570300)
[1](https://app.finbar.com/go?id=P115927165)[2](https://app.finbar.com/go?id=P111253139)[3](https://careers.lifestance.com/our-mission/)[4](https://app.finbar.com/go?id=P108570300)[3](https://careers.lifestance.com/our-mission/)

## Products & services

LifeStance Health Group provides psychiatric evaluations and treatment, psychological and neuropsychological testing, and individual, family, and group therapy. Its services address conditions including anxiety, depression, bipolar disorder, eating disorders, psychotic disorders, and PTSD. [5](https://app.finbar.com/go?id=P75106713)

Care is delivered virtually or in person, with patients able to switch between the two modalities. The company also describes online assessments, digital communication with providers, and internal referrals and follow-up; it does not disclose technical specifications for these capabilities. [5](https://app.finbar.com/go?id=P75106713)[2](https://app.finbar.com/go?id=P111253139)[6](https://app.finbar.com/go?id=P150211763)

The company reports as one operating and reportable segment, mental health services, and does not provide revenue or performance percentages by service type or care modality. [7](https://app.finbar.com/go?id=P150211635)
[5](https://app.finbar.com/go?id=P75106713)[2](https://app.finbar.com/go?id=P111253139)[6](https://app.finbar.com/go?id=P150211763)[7](https://app.finbar.com/go?id=P150211635)

## Geographic presence

LifeStance Health Group, Inc. operates in the United States. As of June 30, 2026, the company reported more than 550 centers across 33 states and 8,542 clinicians. [8](https://investor.lifestance.com/news-releases/news-release-details/lifestance-reports-strong-second-quarter-2026-financial-results) At December 31, 2025, it reported 8,040 licensed mental-health clinicians across 33 states. [1](https://app.finbar.com/go?id=P115927165)

The company reported that all revenue from patient counseling sessions was earned in the United States and that all long-lived assets were located there; it does not provide a state-level revenue breakdown. [9](https://app.finbar.com/go?id=P107510089) Its principal executive office is in Scottsdale, Arizona, and it is incorporated in Delaware. [10](https://app.finbar.com/go?id=P22479996)
[1](https://app.finbar.com/go?id=P115927165)[9](https://app.finbar.com/go?id=P107510089)[10](https://app.finbar.com/go?id=P22479996)[8](https://investor.lifestance.com/news-releases/news-release-details/lifestance-reports-strong-second-quarter-2026-financial-results)

## Business segments

LifeStance Health Group reports one operating and reportable segment: mental health services. Its services include psychiatric evaluations and treatment, psychological and neuropsychological testing, and individual, family, and group therapy, delivered virtually and in person. [7](https://app.finbar.com/go?id=P150211635)[11](https://app.finbar.com/go?id=P50210317)[12](https://app.finbar.com/go?id=P85515134)

The company does not report separate segments or revenue shares for these service lines. As an alternative view of revenue composition, for the six months ended June 30, 2026, commercial payors contributed approximately 88% of revenue ($742.0 million), government payors 7% ($55.7 million), self-pay 4% ($36.1 million), and nonpatient service revenue 1% ($5.0 million), out of $838.8 million total revenue. These are payor/revenue categories, not business segments. [13](https://app.finbar.com/go?id=T17192343)[13](https://app.finbar.com/go?id=T17192343)[13](https://app.finbar.com/go?id=T17192343)[13](https://app.finbar.com/go?id=T17192343)[13](https://app.finbar.com/go?id=T17192343)
[7](https://app.finbar.com/go?id=P150211635)[11](https://app.finbar.com/go?id=P50210317)[12](https://app.finbar.com/go?id=P85515134)[13](https://app.finbar.com/go?id=T17192343)[13](https://app.finbar.com/go?id=T17192343)[13](https://app.finbar.com/go?id=T17192343)[13](https://app.finbar.com/go?id=T17192343)[13](https://app.finbar.com/go?id=T17192343)

## Company history

LifeStance Health was founded in 2017 by Mike Lester, with investment from Silversmith Capital Partners and Summit Partners supporting the development of its behavioral-health platform. In May 2020, TPG acquired a majority interest in the company in a transaction valued at approximately $1.05 billion. [14](https://www.summitpartners.com/resources/stories-from-the-climb-lifestance-transforming-mental-health) [15](https://app.finbar.com/go?id=P8517753)

LifeStance Health Group, Inc. was formed in January 2021 to take the company public. Its IPO closed on June 14, 2021, with shares priced at $18. [16](https://app.finbar.com/go?id=P78889796) [17](https://app.finbar.com/go?id=P43640958) That year, the company marked the opening of its 200th de novo location, part of an expansion strategy that also included recruiting clinicians and acquiring existing practices. [18](https://www.prnewswire.com/news-releases/lifestance-health-celebrates-opening-of-200th-de-novo-location-bringing-total-number-of-centers-to-over-450-nationwide-announces-new-spatial-design-301375061.html) [19](https://app.finbar.com/go?id=P32203363)

Founder and CEO Michael Lester retired in September 2022, when Ken Burdick became CEO and chairman. In March 2025, Dave Bourdon, previously the company’s CFO, became CEO, and Burdick transitioned to executive chairman. [20](https://lifestance.com/media-center-release/lifestance-health-appoints-ken-burdick-as-ceo-and-chairman-founding-ceo-and-chairman-michael-lester-retires/) [21](https://www.sec.gov/Archives/edgar/data/1845257/000119312525037533/d911509dex991.htm)
[14](https://www.summitpartners.com/resources/stories-from-the-climb-lifestance-transforming-mental-health)[15](https://app.finbar.com/go?id=P8517753)[16](https://app.finbar.com/go?id=P78889796)[17](https://app.finbar.com/go?id=P43640958)[18](https://www.prnewswire.com/news-releases/lifestance-health-celebrates-opening-of-200th-de-novo-location-bringing-total-number-of-centers-to-over-450-nationwide-announces-new-spatial-design-301375061.html)[19](https://app.finbar.com/go?id=P32203363)[20](https://lifestance.com/media-center-release/lifestance-health-appoints-ken-burdick-as-ceo-and-chairman-founding-ceo-and-chairman-michael-lester-retires/)[21](https://www.sec.gov/Archives/edgar/data/1845257/000119312525037533/d911509dex991.htm)[14](https://www.summitpartners.com/resources/stories-from-the-climb-lifestance-transforming-mental-health)[18](https://www.prnewswire.com/news-releases/lifestance-health-celebrates-opening-of-200th-de-novo-location-bringing-total-number-of-centers-to-over-450-nationwide-announces-new-spatial-design-301375061.html)[20](https://lifestance.com/media-center-release/lifestance-health-appoints-ken-burdick-as-ceo-and-chairman-founding-ceo-and-chairman-michael-lester-retires/)[21](https://www.sec.gov/Archives/edgar/data/1845257/000119312525037533/d911509dex991.htm)

## Sources

1. [LifeStance Health Group, Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P115927165)
2. [LifeStance Health Group, Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P111253139)
3. [careers.lifestance.com](https://careers.lifestance.com/our-mission/)
4. [LifeStance Health Group, Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P108570300)
5. [LifeStance Health Group, Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P75106713)
6. [LifeStance Health Group, Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150211763)
7. [LifeStance Health Group, Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150211635)
8. [investor.lifestance.com](https://investor.lifestance.com/news-releases/news-release-details/lifestance-reports-strong-second-quarter-2026-financial-results)
9. [LifeStance Health Group, Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P107510089)
10. [LifeStance Health Group, Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P22479996)
11. [LifeStance Health Group, Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P50210317)
12. [LifeStance Health Group, Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P85515134)
13. [LifeStance Health Group, Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T17192343)
14. [www.summitpartners.com](https://www.summitpartners.com/resources/stories-from-the-climb-lifestance-transforming-mental-health)
15. [LifeStance Health Group, Inc. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P8517753)
16. [LifeStance Health Group, Inc. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P78889796)
17. [LifeStance Health Group, Inc. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P43640958)
18. [www.prnewswire.com](https://www.prnewswire.com/news-releases/lifestance-health-celebrates-opening-of-200th-de-novo-location-bringing-total-number-of-centers-to-over-450-nationwide-announces-new-spatial-design-301375061.html)
19. [LifeStance Health Group, Inc. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P32203363)
20. [lifestance.com](https://lifestance.com/media-center-release/lifestance-health-appoints-ken-burdick-as-ceo-and-chairman-founding-ceo-and-chairman-michael-lester-retires/)
21. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1845257/000119312525037533/d911509dex991.htm)

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