Latest news with #Bourdon
Yahoo
2 days ago
- Business
- Yahoo
LFST Q1 Earnings Call: Outpatient Behavioral Health Sees Stable Growth, Margin Improvement, and Shifts in Clinician Incentives
Behavioral health company LifeStance Health (NASDAQ:LFST) met Wall Street's revenue expectations in Q1 CY2025, with sales up 10.8% year on year to $333 million. Its non-GAAP profit of $0.05 per share was significantly above analysts' consensus estimates. Is now the time to buy LFST? Find out in our full research report (it's free). Revenue: $333 million vs analyst estimates of $333.5 million (10.8% year-on-year growth, in line) Adjusted EBITDA: $34.65 million vs analyst estimates of $30.19 million (10.4% margin, 14.7% beat) The company reconfirmed its revenue guidance for the full year of $1.42 billion at the midpoint EBITDA guidance for the full year is $140 million at the midpoint, in line with analyst expectations Operating Margin: 0.5%, up from -5.6% in the same quarter last year Market Capitalization: $2.29 billion LifeStance Health's first quarter performance was driven by steady clinician headcount growth and operational streamlining, as management emphasized progress on digital initiatives and improvements in patient collections. CEO David Bourdon highlighted that the company's hybrid care model, combining in-person and virtual visits, continues to support robust clinician recruitment and retention. Bourdon also pointed to the new digital patient check-in tool, stating it 'is driving higher patient satisfaction, operational efficiencies and significant improvements in patient collections.' The company's focus on refining its value proposition for clinicians led to the implementation of a new cash-based incentive program, replacing the prior stock-based approach. Management attributed improved profitability to both greater clinician productivity and incremental payer rate increases, while also noting that specialty services—such as neuropsychological testing and treatments for resistant depression—are expanding, albeit from a small base. Looking ahead, LifeStance Health's forward guidance is shaped by the absorption of a final rate decrease from a single payer, with management anticipating near-term pressure on per-visit revenue and margins, particularly in the next quarter. CFO Ryan McGroarty explained that 'the second quarter is the first full quarter in which we will be absorbing this impact,' leading to sequential declines in revenue per visit and adjusted EBITDA margins. Management expects revenue growth to be driven primarily by increased visit volumes and gradual rate improvements from other payers in the back half of the year. Bourdon emphasized confidence in the company's insurance-based model to weather economic uncertainty, adding, 'our model is resilient to economic cycles' and may even benefit from increased demand for mental health services in a downturn. The company also plans to resume its evaluation of a new electronic health record (EHR) platform, aiming to support clinician and patient experience improvements over the next several years. Management credited first quarter performance to clinician growth, operational standardization, and digital tool adoption, while margin improvement stemmed from both higher productivity and disciplined spending. Clinician headcount expansion: The clinician base grew by 152 in the quarter, totaling over 7,500. Management attributed this to the appeal of LifeStance's hybrid care model, which offers both virtual and in-person practice flexibility. This growth is seen as essential to meeting rising patient demand and supporting visit volume increases. Digital check-in tool rollout: The company completed the rollout of its digital patient check-in platform, which improved patient satisfaction and materially enhanced the collections process. Management stated that this was a primary driver behind the reduction in days sales outstanding (DSO) to 38 days, a company low. Shift to cash-based clinician incentives: Responding to clinician feedback, LifeStance replaced its stock-based incentive program with a cash bonus structure focused on quality and productivity. Management believes this will better align clinician interests with patient care goals and potentially support retention and recruitment. Specialty services expansion: The company is growing its specialty offerings in neuropsychological testing, transcranial magnetic stimulation (TMS), and Spravato for treatment-resistant depression. While currently about $50 million in revenue, management expects these services to outpace the core business in growth and deliver higher margins over time. Operational efficiencies and margin gains: LifeStance achieved its first-ever positive net income as a public company, which management credited to both higher clinician productivity and disciplined general and administrative spending. The company's adjusted EBITDA margin reached double digits for the second straight quarter, reflecting ongoing standardization and cost management. Management's guidance focuses on volume-driven growth, modest rate improvements, and a transition period as the company absorbs a payer rate decrease. Visit volume as growth engine: The company expects overall revenue expansion to be primarily driven by higher visit volumes, supported by both clinician headcount growth and efforts to better fill existing clinician calendars. Management cited this as the main path to sustained top-line increases in the near term. Payer rate dynamics and margin pressure: A final rate decrease from a single payer will weigh on revenue per visit and margins in the upcoming quarter. Management anticipates this headwind will be partially offset by modest rate increases from other payers and greater specialty service revenue in the second half of the year. Strategic focus on operational initiatives: The company is prioritizing the evaluation of a new EHR platform and the continued rollout of specialty services. Management believes these initiatives will improve operational efficiency, clinician and patient satisfaction, and support long-term margin expansion, but cautioned that benefits will accrue gradually over several years. In coming quarters, the StockStory team will monitor (1) how LifeStance navigates payer rate changes and their effect on per-visit revenue and margins, (2) the pace of clinician headcount and productivity growth, and (3) expansion of specialty service offerings and their contribution to overall revenue and margin mix. Execution on the EHR initiative and continued digital platform enhancements will also be important markers of progress. LifeStance Health Group currently trades at a forward P/E ratio of 77.5×. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
NBC Sports
12-02-2025
- Automotive
- NBC Sports
Anthony Bourdon breaks pelvis in training crash, Supercross 2025 season ended
BarX Yamaha rider Anthony Bourdon will miss the remainder of the 2025 Monster Energy Supercross 250 West divisional championship after crashing heavily in training on Tuesday. 'SEASON OVER,' Bourdon posted on Instagram (translated from the original). 'There are days when everything goes according to plan... and others where everything changes in a fraction of a second. Big crash yesterday in training, without me being able to do much about it. Dislocated hip, broken pelvis + a lumbar vertebra. 'An operation may be coming. The road to recovery is long, but I am keeping my spirits up and motivated. Thank you very much to the people on site who helped me during this hard day. ... I will come back stronger.' In the first four rounds of the Western division, Bourdon scored three top-10s and an 11th, placing him seventh in the points standings. His season-best results were a pair of seventh-place finishes, earned in the season-opener at Anaheim, California, and in the Glendale, Arizona, Triple Crown. Bourdon finished eighth in the 2024 Supercross West division. More SuperMotocross News Detroit Supercross preview Eli Tomac breaks leg in Tampa What riders said after Tampa Pierce Brown breaks vertebra at Tampa Tampa 450 Results | 250 Results Malcolm Stewart wins first Supercross race RJ Hampshire, Tom Vialle square off McAdoo: Race day decision about Tampa How to Watch Tampa Supercross Jett Lawrence on his ACL tear: 'It is cooked'
