LifeStance Health Group, Inc. - Common Stock (LFST)
8.0600
+0.1500 (1.90%)
Lifestance Health Group Inc is a prominent provider of mental health services that focuses on delivering high-quality behavioral health care to individuals seeking support for various mental health issues
The company operates a network of mental health professionals, including psychiatrists, psychologists, and therapists, who offer a range of services such as therapy, medication management, and telehealth consultations. Committed to improving access to mental health care, Lifestance Health emphasizes a patient-centered approach and leverages technology to enhance the therapeutic experience, making mental health services more accessible and convenient for patients across the United States.
Lifeist Wellness Inc. (TSXV: LFST) (FRANKFURT: M5B0) (OTCMKTS: LFSWF), a health-tech company reported on Tuesday its financial results for the three months ended May 31, 2024. The Toronto-based company reported a nearly 50% year-over-year drop in net revenue from continued operations to CA$3.9 million ($2.8 million) in the second quarter of fiscal 2024. Meni Morim, CEO of Lifeist said the company's second-quarter performance "is another clear indication that we must move on from operating our legacy cannabis business segments and find other solutions that have exposure to the broader wellness market."
Shareholders of four cannabis companies held their respective annual meetings, electing nominees as board directors.Sandy Li, who has been serving at cannabis edibles producer Wana Brands since 2022 as CFO joined Viridian Capital Advisors's advisory board. David Vautrinas was appointed to serve as chief retail officer of RIV Capital.
Simply Solventless Concentrates Ltd. (TSXV: HASH) is acquiring Lifeist Wellness Inc.'s (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) subsidiary CannMart Inc.The Calgary, Alberta-based company said on Wednesday that it has entered into a services agreement regarding the operations of CannMart and a share purchase agreement with Lifeist Wellness Inc. to acquire all of the shares of CannMart.
Lifeist Wellness Inc. (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) said on Wednesday the sale of Australian Vaporizers Pty Ltd., its wholly owned Australian subsidiary to Flora Growth Corp. (NASDAQFLGC).The sale, first announced in September 2023, was wrapped up through a share purchase agreement, under which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for roughly CA$900,000 ($658,439). The sum is payable by Flora issuing from treasury to Lifeist 550,000 of its common shares.In the meantime,
LifeStance Health shares are trading lower by 19.8% during Wednesday's session. The company announced pricing of a 20 million share offering by selling stockholders.
Lifeist Wellness Inc. reported on Monday its financial results for the three and 12 months ended Nov. 30, 2023. The Toronto-based company said it achieved the highest quarterly gross profit in the company's history in the fourth quarter totaling CA$2 million ($1.5 million), representing a gross margin of 42%, compared to CA$1.9 million, or 31% gross margin, in the corresponding quarter of 2022."Our performance in the fourth quarter of 2023 reflects our strategic focus on high-margin activities and operational efficiency, resulting in the highest quarterly gross profit in our company's history," Meni Morim, CEO of Lifeist, said. "Though accompanied by unique hurdles, our focus towards enhancing gross profit has produced promising results." The company recently announced that it has entered into a definitive share purchase agreement with 1463663 B.C. Ltd., a newly incorporated affiliate of Tierra Corp., and the company's Canadian cannabis subsidiaries, collectively referred to as the CannMart Group, to divest and sell all of the shares of the CannMart Group to the buyer for CA$5 million.
LifeStance Health reports 22% jump in Q4 2023 revenue of $280.60 million. Clinician base expands by 18%, visit volumes increase by 20%. Strong guidance for FY 2024, making LFST a compelling long-term investment.
