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LifeStance Health vs Pennant: revenue, profit, margins and growth compared

LifeStance Health brought in $1.4B of revenue in fiscal 2025, Pennant $947.7M in fiscal 2025. Revenue changed by +13.9% at LifeStance Health and +36.3% at Pennant on the year before, so Pennant grew faster. LifeStance Health kept 0.7% of its revenue as net profit, Pennant 3.1%. Free cash flow was $110M at LifeStance Health and $36.3M at Pennant.

Side by side, latest fiscal year

LFSTPNTG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.4B$947.7M
Revenue growth+13.9%+36.3%
Net income$9.7M$29.6M
Net margin0.7%3.1%
Free cash flow$110M$36.3M
Free cash flow margin7.7%3.8%
Earnings per share (diluted)n/a$0.84
Cash$248.6M$17M
Debt$282.8M$168.8M
Price to earningsn/a48.5
Market value$4.5B$1.4B
Dividend yieldn/an/a
Rank by revenue in sector#126 of 523 · Health care#148 of 523 · Health care

Over the years

Revenue
LFST FY2019: $212.5MLFST FY2021: $667.5MLFST FY2022: $859.5MLFST FY2023: $1.1BLFST FY2024: $1.3BLFST FY2025: $1.4BPNTG FY2019: $286.1MPNTG FY2019: $338.5MPNTG FY2020: $391MPNTG FY2021: $439.7MPNTG FY2022: $473.2MPNTG FY2023: $544.9MPNTG FY2024: $695.2MPNTG FY2025: $947.7MFY19FY20FY21FY22FY23FY24FY25
LFST $1.4BPNTG $947.7M
Net income
LFST FY2019: $5.7MLFST FY2021: -$307.2MLFST FY2022: -$215.6MLFST FY2023: -$186.3MLFST FY2024: -$57.4MLFST FY2025: $9.7MPNTG FY2019: $15.7MPNTG FY2019: $2.5MPNTG FY2020: $15.7MPNTG FY2021: $2.7MPNTG FY2022: $6.6MPNTG FY2023: $13.4MPNTG FY2024: $22.6MPNTG FY2025: $29.6MFY19FY20FY21FY22FY23FY24FY25
LFST $9.7MPNTG $29.6M
Net margin
LFST FY2019: 2.7%LFST FY2021: -46.0%LFST FY2022: -25.1%LFST FY2023: -17.6%LFST FY2024: -4.6%LFST FY2025: 0.7%PNTG FY2019: 5.5%PNTG FY2019: 0.8%PNTG FY2020: 4.0%PNTG FY2021: 0.6%PNTG FY2022: 1.4%PNTG FY2023: 2.5%PNTG FY2024: 3.2%PNTG FY2025: 3.1%FY19FY20FY21FY22FY23FY24FY25
LFST 0.7%PNTG 3.1%
Revenue growth
LFST FY2022: +28.8%LFST FY2023: +22.8%LFST FY2024: +18.5%LFST FY2025: +13.9%PNTG FY2019: +18.3%PNTG FY2020: +15.5%PNTG FY2021: +12.5%PNTG FY2022: +7.6%PNTG FY2023: +15.1%PNTG FY2024: +27.6%PNTG FY2025: +36.3%FY19FY20FY21FY22FY23FY24FY25
LFST +13.9%PNTG +36.3%
Free cash flow
LFST FY2019: $2.7MLFST FY2021: -$85.1MLFST FY2022: -$26.5MLFST FY2023: -$57.4MLFST FY2024: $85.7MLFST FY2025: $110MPNTG FY2019: $19.7MPNTG FY2019: $2.8MPNTG FY2020: $43MPNTG FY2021: -$24.5MPNTG FY2022: -$5.1MPNTG FY2023: $25MPNTG FY2024: $30.3MPNTG FY2025: $36.3MFY19FY20FY21FY22FY23FY24FY25
LFST $110MPNTG $36.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about LifeStance Health and Pennant

Which is bigger by revenue, LifeStance Health or Pennant?

LifeStance Health is bigger by revenue: $1.4B in fiscal 2025, against $947.7M for Pennant in fiscal 2025.

Which keeps more of its revenue as profit, LifeStance Health or Pennant?

LifeStance Health had a net margin of 0.7% in fiscal 2025; Pennant had 3.1% in fiscal 2025.

Which grew revenue faster, LifeStance Health or Pennant?

In their latest fiscal years revenue changed by +13.9% at LifeStance Health and +36.3% at Pennant.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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