LifeStance Health Group, Inc.

Ladies and gentlemen, thank you for standing by. My name is Colby, and I'll be your conference operator today. At this time, I would like to welcome you to the LifeStance Health third quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise, and after the speaker's remarks, there will be a question and answer session. If you'd like to ask a question at that time, please press star, then the number one on your telephone keypad. If you'd like to withdraw your question at any time, please press star one again. Thank you. I would now like to turn the call over to Monica Prokoski. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to LifeStance Health's third quarter 2025 earnings conference call. I'm Monica Prokoski, Vice President of Finance and Investor Relations. Joining me today are Dave Borden, Chief Executive Officer, and Ryan McGrory, Chief Financial Officer. We issued the earnings release and presentation before the market opened this morning. Both are available on the investor relations section of our website, investor.lifesense.com. In addition, a replay will be available following the call. Before turning 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. 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 Dave Borden, CEO of LifeSense. Dave?

Thanks, Monica, and thank you all for joining us today. I'm incredibly proud of the LifeSense team for the exceptional results we delivered in the third quarter. For the past three years, we have met or exceeded our guided metrics, a testament to our consistency, execution, and the resilience of our commercial pay hybrid model. Offering both in-person and virtual care continues to be a key differentiator, especially in a fluid landscape that favors providers like LifeStance who can deliver high-quality care in both settings. Additionally, given our focus on commercial insurance, We have minimal exposure to government pay, largely insulating us from legislative shifts and stroke-of-the-pen risks.