LifeStance Health Group, Inc.

Hello and thank you for standing by. My name is Mark and I will be your conference operator for today. At this time, all lines have been placed on mute to prevent any background noises. After the speaker remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star and number one again. Thank you. And I would now like to turn the call over to Monica Borkoski. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to LifeStance Health First Quarter 2026 Earnings Conference Call. I'm Monica Borkoski, Vice President of Finance and Investor Relations. Joining me today are Dave Borden, Chief Executive Officer, and Ryan McGurry, 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, investors.lifestance.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 FCC 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 gap 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 LifeGap. Dave?

Thanks, Monica, and thank you all for joining us today. We had an exceptional start to the year at LifeStance. We've seen each of our guided metrics with strong revenue growth of over 21% and more than $50 million in adjusted EBITDA, a 48% increase over last year. We grew our clinician base by more than 300 and a quarter to over 8,300 clinicians. we also delivered meaningful year-over-year improvements in clinician productivity, reflecting the continued impact of the initiatives we implemented last year. Given the outperformance in the quarter, we are raising our full-year guidance across all metrics, and later Ryan will provide the details on our improved view of 2026. From a macro environment perspective, we continue to see a growing demand for high-quality mental health care, as well as patients seeking more affordable solutions, driving a shift from cash pay to insurance coverage. LifeStance is uniquely positioned to meet these needs. We're seeing this through our success in growing our clinician base, attracting new patients, and driving clinical and operational excellence. Regarding operational execution, the momentum we established in 2025 was strong visit growth and clinician productivity carried into the first quarter. These efforts centered around enhancements to new patient conversion and engagement. Importantly, these initiatives are embedded in our operating model and supported by clinician-level visibility, education, and incentives. giving us confidence in their durability as we continue to scale our clinician base. Turning to technology, we continue to apply digital and AI tools in focused, practical ways to improve patient access, clinician experience, and operational efficiency. Across the organization, digital and AI tools, including digital patient check-in, AI-driven workflows, and robotic process automation support operational excellence, particularly in areas with heavy manual processes such as revenue cycle management. In addition, AI-enabled scheduling tools support our new patient telephone booking process, resulting in converting more calls to appointments. We are also rolling out AI-assisted clinical documentation to reduce administrative burden and cognitive load for clinicians, enabling them to spend more time with patients, which should improve patient and clinician satisfaction. As for our new EHR, last quarter we announced the selection of a best-in-class vendor with implementation expected to begin this year and the transition occurring during 2027. Our focus has now shifted to organizational readiness and early clinician engagement. The transition to the new EHR will support our ability to scale efficiently, integrate AI more seamlessly, and improve the consistency of both the clinician and patient experience while delivering clinical excellence. There remains a tremendous opportunity for technology, to further enable the business. We will remain focused on prioritizing use cases with clear clinical and operational impact as we deploy these tools more broadly across the organization. This approach to technology strengthens LifeStance's leadership position while reinforcing clinician trust and the quality of care we deliver to patients. Turning to geographic expansions. we see a significant opportunity ahead to increase both density within our existing markets and to expand our geographic footprint. As we've discussed, tuck-in acquisitions are our preferred way of entering new MFAs, and after three years, we're back to executing on M&A with a disciplined and targeted approach. We have established a strong pipeline of potential acquisitions, and expect tuck-ins going forward to be a meaningful part of our geographic expansion strategy. We're pleased that during the first quarter, we opened two new markets through acquisitions, adding high-quality practices that align well with our model and our culture. While these deals will contribute a non-material amount of revenue this year, they establish new market entry points to support future growth in 2027 and beyond. Where attractive talking opportunities are not available to us, we'll continue to enter new geographies with a de novo approach. Finally, I'd like to highlight our progress on clinical excellence. Our clinicians and the positive impact we're having on patients is the foundation of everything we do at LifeStamps. Measuring How we're improving patient outcomes at scale is critical to ensuring our care is effective, and we also use these findings to identify opportunities to improve that care. In April, we published new clinical outcomes data from nearly 180,000 LifeStance patients that showed roughly three-quarters benefited from clinically significant improvements in their anxiety and depression. further validating our commitment to clinical excellence. These clinical outcomes, combined with strong patient satisfaction, as reflected in our over 4.7 out of 5 Google Stars rating for our over 575 centers, reinforce that our model is working. And importantly, these strong patient outcomes and high satisfaction scores are the direct result of the dedication of our clinicians and our ongoing commitment to enable our clinicians to deliver high-quality care to patients. With that, I'll turn it over to Ryan to provide additional commentary on our financial performance and outlook. Ryan?