LifeStance Health Group, Inc. (NASDAQ:LFST) Q4 2023 Earnings Call Transcript

Ken Burdick: I’ll just add that I think one of the most powerful things that Danish has shared in his remarks is the extent to which we are able to rely on referrals from physicians and such that our paid advertising to acquire new patients is quite tiny, frankly, compared to some others in our space.

Stephanie Davis: Super helpful. Thank you, guys.

Operator: And there are no further questions at this time. I would like to turn the conference over to Ken Burdick for closing remarks.

Ken Burdick: Thank you. As I’ve shared previously, the founders of LifeStance designed a great model to achieve an exceptional growth and have given newcomers like myself and Dave an opportunity to evolve and scale a great business. I want to remind everyone, we are still in the early stages. We are a young business. We have grown through both acquisition, approximately 100 acquired independent practices and thousands of clinicians hired one by one. And as we continue to emphasize these phrases like operational improvement and plenty of work to do, I want you to understand that is not faculty that is a realistic acknowledgment of where we are in our multiyear journey. We have more work to do. We continue to improve our focus on execution, prioritization, standardization so that we can run a more efficient business.

Recognizing that there’s more work to do, I do want to be sure to call out that I could not be more proud of my teammates across LifeStance. The passion that they demonstrate, the work ethic that they display has not only been key to our past accomplishments, but it’s going to be the source of our future achievements as we continue to realize the potential of our business. Thank you for your interest in LifeStance, and thanks for joining us today.

Operator: And this does conclude today’s conference call. Thank you for your participation. You may now disconnect.