LifeStance Health Group, Inc (NASDAQ:LFST) Q1 2024 Results Conference Call May 9, 2024 8:30 AM ET

Company Participants

Monica Prokocki - Vice President of Investor Relations
Ken Burdick - Chief Executive Officer
Danish Qureshi - Chief Operating Officer
Dave Bourdon - Chief Financial Officer & Treasurer

Conference Call Participants

Craig Hettenbach - Morgan Stanley
Lisa Gill - JP Morgan
Jack Senft - William Blair
Kevin Caliendo - UBS
Taji Phillips - Jefferies
Stephanie Davis - Barclays

Operator

Thank you for standing by. My name is Alex, and I will be your conference operator today. At this time, I would like to welcome everyone to the LifeStance Health First Quarter 2024 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Monica Prokocki, Vice President of Investor Relations. Please go ahead.

Monica Prokocki

Thank you, operator. Good morning, everyone, and welcome to LifeStance Health's First Quarter 2024 Earnings Conference Call. I'm Monica Prokocki, Vice President of Investor Relations. Joining me today are: Ken Burdick, Chief Executive Officer; Dave Bourdon, Chief Financial Officer; and Danish Qureshi, Chief Operating Officer.

We issued the earnings release and presentation before the market opened this morning. Those are available on the Investor Relations section of our website, investor.lifestance.com. In addition, a replay of this conference call will be available following the call.

Before turning the call over to management for their prepared remarks, please direct your attention to the disclaimers about forward-looking statements included in the earnings press release and SEC filings. Today's remarks contain forward-looking statements, including statements about our financial performance outlook, business model and strategy. Those statements involve risks, uncertainties and other factors as noted in our periodic filings with the SEC that could cause actual results to differ materially.

In addition, please note that we report results using non-GAAP financial measures, which we believe provide additional information for investors to help facilitate comparison of current and past performance. A reconciliation to the most directly comparable GAAP measures is included in the earnings press release tables and presentation appendix. Unless otherwise noted, all results are compared to the comparable period in the prior year.

At this time, I'll turn the call over to Ken Burdick, CEO of LifeStance. Ken?

Ken Burdick

Thanks, Monica. And thank you all for joining us today. In the first quarter, we once again beat on all of our guided metrics, making this the sixth consecutive quarter that LifeStance has met or exceeded expectations. We delivered strong financial performance with revenue growth of 19% to $300 million and adjusted EBITDA up 174% to $28 million. We are also raising full year adjusted EBITDA guidance based on the strength of the quarter.