0000950170-21-001308 | 10-Q | XBRL Viewer | Lifestance Health Group INC

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2021

NOTE 7 FAIR VALUE MEASUREMENTS

The Company measures its contingent consideration liability at fair value on a recurring basis using Level 3 inputs. The Company estimates the fair value of the contingent consideration liability based on the likelihood and timing of the contingent earn-out payments. The fair value is derived using valuation methodologies, such as a discounted cash flow model, and is not based on market exchange, dealer, or broker-traded transactions. This valuation incorporates certain assumptions and projections in determining the fair value assigned to such liability. The valuation methodology differs depending on the type of earn-out target. The following is the summary of the significant assumptions used for the fair value measurement of the contingent consideration liability as of June 30, 2021 (Successor) and December 31, 2020 (Successor).


Valuation Technique	Range of Significant Assumptions
		Successor
		June 30, 2021
Probability-weighted analysis	Probability	25% - 100%
based earn-outs (1)	Discount rate	8.65% - 8.68%

(1) During the second quarter of 2021, all contingent consideration liabilities previously estimated using a Monte Carlo Simulation EBITDA based earn-out technique transitioned, as deemed appropriate due to the remaining timing of the contracts and materiality of the underlying balances, to a probability-weighted analysis based on projected outcomes.


Valuation Technique	Range of Significant Assumptions
		Successor
		December 31, 2020
Monte Carlo Simulation	Expected EBITDA	Acquisition specific
EBITDA based earn-outs	Discount rate	16.15% - 19.65%
	Counter-party risk premium	8.46% - 8.77%
	Volatility	50%

Probability-weighted analysis	Probability	25% - 100%
FTE based earn-outs	Discount rate	8.65% - 8.68%

As of June 30, 2021 (Successor) and December 31, 2020 (Successor), the Company adjusted the fair value of the contingent consideration liability due to remeasurement at the reporting date. See Note 16 for discussion of payment of contingent consideration made related to prior year acquisitions, fair value adjustments, and a roll-forward of the contingent consideration balance from the prior year.

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis using the above input categories:


June 30, 2021 (Successor)	Level 1		Level 2		Level 3		Total
Financial Instrument
Contingent consideration liability	$	—	$	—	$	14,123	$	14,123


December 31, 2020 (Successor)	Level 1		Level 2		Level 3		Total
Financial Instrument
Contingent consideration liability	$	—	$	—	$	16,414	$	16,414

At the closing of the TPG Acquisition (see Note 3), LifeStance TopCo recorded the acquired assets and assumed liabilities at their acquisition date fair values in accordance with ASC 805, Business Combinations. As disclosed in Note 4, the Company acquired several outpatient mental health practices during the three and six months ended June 30, 2021 (Successor), the period from April 13, 2020 to June 30, 2020 (Successor), the period from April 1, 2020 to May 14, 2020 (Predecessor) and the period from January 1, 2020 to May 14, 2020 (Predecessor). The values of net

tangible assets acquired, and the resulting goodwill and other intangible assets, were recorded at fair value using Level 3 inputs. The majority of the tangible assets acquired and liabilities assumed were recorded at their carrying values as of the respective dates of acquisition, as their carrying values approximated their fair values due to their short-term nature. The fair values of goodwill and other intangible assets acquired in these acquisitions were estimated with the assistance of a third-party valuation expert primarily based on the income approach. The income approach estimates fair value based on the present value of the cash flows that the assets are expected to generate in the future. The Company developed estimates for the expected future cash flows and discount rates used in the present value calculations. Other than assets acquired and liabilities assumed in these acquisitions, there were no material assets or liabilities measured at fair value on a nonrecurring basis during the periods presented.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Intangible Assets - Summary of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 503	$ 9,704	$ 4,669	$ 1,435	$ 19,323

Stock And Unit-Based Compensation - Summary of Class B Profits Interests General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Class B Profits Interests Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unit-based compensation expense	$ 530	$ 292	$ 1,135

Net Loss Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net Loss Per Share

NOTE 17 NET LOSS PER SHARE

Prior to the IPO, as discussed in Note 1, the partnership interests of LifeStance TopCo included Redeemable Class A, Class A common and Class B units. The Class B Units were intended to be "profits interests" for U.S. federal income tax purposes. Prior to the IPO, each of the holders of partnership interests in LifeStance TopCo contributed its partnership interest to LifeStance Health Group in exchange for shares of common stock (including shares of common stock issued as restricted stock subject to vesting) of LifeStance Health Group, with no changes in relative equity holder rights, rank or value before or after this exchange. As a result, the LifeStance TopCo equity exchange of common units was considered equivalent to a stock split and requires retrospective treatment for net loss per share purposes. All share and per share information has been retroactively adjusted to reflect the equity exchange for all periods presented. Vested Class B Profits Interests Units outstanding prior to the equity exchange were considered compensatory arrangements that were settled with shares of common stock at the time of the exchange and have been included as outstanding shares subsequent to that date.

The following table presents the calculation of basic and diluted net income/(loss) per share (“EPS”) for the Company’s common shares (on an as-converted basis):


	Successor
	Three months ended June 30, 2021			Six months ended June 30, 2021			April 13 to June 30, 2020
Net loss available to common stockholders'/members'	$	(70,033	)	$	(115,465	)	$	(4,342	)
Weighted-average shares used to compute basic and diluted net loss per share		313,536			309,559			297,237
Net loss per share, basic and diluted	$	(0.22	)	$	(0.37	)	$	(0.01	)

The Company has issued potentially dilutive instruments in the form of restricted stock and the RSUs. The Company did not include any of these instruments in its calculation of diluted loss per share (on an as-converted basis) for the three and six months ended June 30, 2021 (Successor) and for the period from April 13, 2020 to June 30, 2020 (Successor) because to include them would be anti-dilutive due to the Company’s net loss during the period. See Note 13 for the issued, vested and unvested Class B Profits Interests Units, restricted stock and RSUs.

Subsequent Events	6 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 18 SUBSEQUENT EVENTS Acquisitions Subsequent to June 30, 2021, the Company completed acquisitions of several outpatient mental health practices. The allocation of purchase price, including any fair value of contingent consideration, to the assets acquired and liabilities assumed as of the acquisition dates have not been completed. For acquisitions completed subsequent to June 30, 2021, total contractual consideration included cash consideration of $21,108, funded through credit facility financing, and contingent consideration with a maximum value of $3,400.

Subsequent Events

6 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

NOTE 18 SUBSEQUENT EVENTS

Acquisitions

Subsequent to June 30, 2021, the Company completed acquisitions of several outpatient mental health practices. The allocation of purchase price, including any fair value of contingent consideration, to the assets acquired and liabilities assumed as of the acquisition dates have not been completed.

For acquisitions completed subsequent to June 30, 2021, total contractual consideration included cash consideration of $21,108, funded through credit facility financing, and contingent consideration with a maximum value of $3,400.

TOTAL REVENUES - Additional Information (Details)	Jun. 30, 2021
Three Payor \| Minimum
Health Care Organization Receivable And Revenue Disclosures [Line Items]
Percentage of revenue	10.00%

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended	4 Months Ended	6 Months Ended
	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (4,342)	$ (24,945)	$ (78,715)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	5,432	3,335	25,002
Stock and unit-based compensation	292	0	30,120
Deferred income taxes	2,866	(2,345)	0
Loss on debt extinguishment	3,066	0	(5,620)
Amortization of debt issue costs	135	215	1,081
Loss (gain) on remeasurement of contingent consideration	51	(322)	557
Endowment of shares to LifeStance Health Foundation	0	0	9,000
Change in operating assets and liabilities, net of businesses acquired:
Patient accounts receivable	(2,463)	(5,122)	(11,831)
Prepaid expenses and other current assets	(4,394)	(4,526)	(14,964)
Accounts payable	891	(1,638)	2,261
Accrued payroll expenses	(3,844)	8,753	9,580
Other accrued expenses	(35,007)	40,031	15,283
Net cash (used in) provided by operating activities	(37,317)	13,436	(7,006)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(5,120)	(12,804)	(31,803)
Acquisition of Predecessor, net of cash acquired	(643,717)	0	0
Acquisitions of businesses, net of cash acquired	(22,376)	(12,274)	(39,126)
Net cash used in investing activities	(671,213)	(25,078)	(70,929)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from initial public offering	0	0	554,169
Issuance of common units to new investors	0	0	1,000
Contributions from Members related to acquisition of Predecessor	633,585	0	0
Repurchase of Series A redeemable convertible preferred units	0	(1,000)	0
Proceeds from long-term debt	235,900	74,350	98,800
Payments of debt issue costs	(6,411)	(650)	(2,360)
Payments of long-term debt	(138,540)	(18,222)	(310,729)
Payments of contingent consideration	(2,200)	(19,093)	(5,587)
Net cash provided by financing activities	722,334	35,385	335,293
NET INCREASE IN CASH AND CASH EQUIVALENTS	13,804	23,743	257,358
Cash and Cash Equivalents - Beginning of period		3,481	18,829
CASH AND CASH EQUIVALENTS – END OF PERIOD	13,804	27,224	276,187
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest and prepayment premium	2,773	2,857	24,889
Cash paid for taxes	0	25	900
SUPPLEMENTAL DISCLOSURES OF NON CASH INVESTING AND FINANCING ACTIVITIES
Unpaid deferred offering costs included in accounts payable and other accrued expenses	0	0	5,264
Equipment financed through capital leases	1	415	14
Contingent consideration incurred in acquisitions of businesses	3,191	3,788	2,739
Acquisition of property and equipment included in liabilities	2,694	2,718	10,233
Issuance of common units for convertible promissory note conversion	511	0	0
Issuance of common units for acquisitions of businesses	$ 4,500	$ 0	$ 1,486

TPG Acquisition

6 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

TPG Acquisition

NOTE 3 TPG ACQUISITION

LifeStance TopCo was formed for the purpose of completing a merger transaction with affiliates of TPG and Lynnwood MergerSub, Inc. (“Merger Sub”) in order to carry on the business of LifeStance Health, LLC and subsidiaries. On April 14, 2020, LifeStance Health Holdings, Inc. ("LifeStance Holdings") entered into a merger agreement among LifeStance Holdings, Lynnwood Intermediate Holdings, Inc., Merger Sub and Shareholder Representatives Services LLC (the "TPG Acquisition"). Immediately prior to the TPG Acquisition, LifeStance Health, LLC completed a reorganization pursuant to which the equity holders of LifeStance Health, LLC, including affiliates of Summit and affiliates of Silversmith (together with TPG and Summit, the Company’s “Principal Stockholders”) received a distribution of 100% of the equity interests of LifeStance Health Holdings, a direct subsidiary of LifeStance Health, LLC, in complete redemption of their equity interests of LifeStance Health, LLC. Pursuant to the TPG Acquisition, (i) the historic equity holders of LifeStance Health, LLC contributed a portion of their units of LifeStance

Holdings to LifeStance TopCo in exchange for equity interests of LifeStance TopCo and (ii) an indirect subsidiary of LifeStance TopCo, merged with and into LifeStance Holdings, with shareholders of LifeStance Holdings receiving cash consideration in connection with cancellation of the remainder of their shares.

LifeStance TopCo has a controlling financial interest in LifeStance Holdings under the voting interest model. Therefore, the Company determined LifeStance TopCo would consolidate LifeStance Holdings. Further, the TPG Acquisition is considered to constitute a change in control of the LifeStance business, with LifeStance TopCo being deemed the acquirer. The TPG Acquisition has been accounted for using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations, which requires, among other things, that the assets acquired and liabilities assumed be recognized at their acquisition date fair values, with any excess of the consideration transferred over the estimated fair values of the identifiable net assets acquired recorded as goodwill. Immediately prior to the transaction, LifeStance Health, LLC was the reporting entity. As noted above, this entity will be considered the predecessor entity and the period prior to and including May 14, 2020 will be the predecessor period. LifeStance Health, LLC was subsequently dissolved as part of the transaction. Given that LifeStance TopCo is the accounting acquirer, it will be considered the successor entity and the successor period will begin on April 13, 2020. For the period from April 13, 2020 through May 13, 2020, the operations of LifeStance TopCo were limited to those incident to its formation and the TPG Acquisition, which were not significant.

Pursuant to the merger, LifeStance TopCo issued 979,563 Class A-1 Units and 35,845 Class A-2 Units to certain of its equity holders, including TPG, Summit, Silversmith and members of the Company’s management team. Following the TPG Acquisition, the Company conducted its business through LifeStance TopCo and its consolidated subsidiaries, and subsequent to the IPO, the Company has conducted its business through LifeStance Health Group. All previously owned preferred units were converted into LifeStance TopCo common units upon the acquisition.

Total consideration transferred consisted of the following:


Cash consideration	$	670,941
Class A-1 units		345,978
Class A-2 units		35,845
Total consideration transferred	$	1,052,764

The total consideration of $1,052,764 consisted of $381,823 equity, including 345,978 Class A-1 Units and 35,845 Class A-2 Units at $1 per unit and $670,941 cash, including $4,500 cash placed in escrow, transaction fees, cash for debt repayment, and a working capital adjustment. The Company recorded the fair value of net assets acquired of $126,106 and recorded goodwill of $926,658 on May 14, 2020.

Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed as of the date of acquisition:


Allocation of Purchase Price	Amount
Cash	$	27,224
Patient accounts receivable		25,152
Property and equipment		34,813
Prepaid expenses and other current assets		9,590
Deposits		1,766
Intangible assets		344,300
Goodwill		926,658
Total assets acquired		1,369,503
Accounts payable		3,456
Accrued payroll expenses		25,739
Other accrued expenses		48,655
Current portion of contingent consideration		5,861
Other current liabilities		1,848
Long-term debt, net		135,006
Other noncurrent liabilities		9,617
Contingent consideration, net of current portion		4,048
Deferred tax liability, net		82,509
Total liabilities assumed		316,739
Fair value of net assets	$	1,052,764

The fair value of assets and liabilities other than intangible assets approximate the carrying amount as of the acquisition date. The liquidity of receivables is based on contractual rates to payors. The identifiable intangible assets acquired include the LifeStance corporate trade name, trade names related to the regional clinics, non-competition agreements with the Company’s executives, and non-competition agreements with providers.

In order to value trade names, the “relief-from-royalty” method was utilized. This method is based on the supposition that in lieu of ownership, the Company would be willing to pay a royalty in order to exploit the related benefits of the trade names. The value of the trade names was determined by discounting the inherent after-tax royalty savings associated with ownership or possession of the trade name over the expected useful life. The selected royalty rate (pre-tax) was based on an analysis of various factors, including an analysis of market data and comparable trade name agreements.

As it pertains to the non-competition agreements, the “with-and-without” method was utilized to determine the value. Revenue with the non-competition agreement in place was based on the Company’s forecast. The values indicated from the “with-and-without” method were adjusted to reflect the ability, feasibility and desire for the partners to compete.

Subsequent to the closing of the TPG Acquisition, there was an additional cash payment of $2,977 related to a working capital adjustment, which was accounted for as a measurement period adjustment (see Note 8).

The following table summarizes the fair values of acquired intangible assets as of the date of the TPG Acquisition:


	Amount		Useful Life
Trade names – Corporate	$	235,500	22.5 years
Trade names – Regional		22,900	5 years
Non-competition agreements – Executives		77,500	4 years
Non-competition agreements – Providers		8,400	5 years
Total intangible assets	$	344,300

Pro Forma

The Company’s unaudited pro forma revenue and net loss for the years ended December 31, 2020 and 2019 below have been prepared as if the TPG Acquisition occurred on January 1, 2019.


	Year ended December 31, 2020			Year ended December 31, 2019
Revenue	$	377,217		$	212,518
Net loss	$	(26,727	)	$	(52,463	)

Goodwill

Goodwill represented the excess of the purchase price over the net identifiable assets acquired and liabilities assumed. Goodwill is primarily attributable to the assembled workforce, customer and payor relationships and anticipated synergies and economies of scale expected from the integration of the businesses. The synergies include certain cost savings, operating efficiencies, and other strategic benefits projected to be achieved as result of the acquisition. There is no tax-deductible goodwill from the TPG Acquisition.

The transaction costs related to the TPG Acquisition were $32,942, all of which were expensed as incurred.

Stock And Unit-Based Compensation - Summary of Class B Profits Interests Units Corresponding Hurdle Values (Details) - shares shares in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Apr. 13, 2020
Class B Profits Interests Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units Outstanding	0	152,865	143,343	134,855	0

Income Taxes - Schedule of Income Tax Expense Benefit (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Income Statement [Abstract]
Benefit from income taxes	$ 3,022	$ 3,788	$ 1,370	$ 2,319	$ 6,549

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Commitments and Contingencies - Summary of Contingent Consideration Balance (Details) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended	6 Months Ended
	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Beginning Balance	$ 0	$ 25,536	$ 16,414
Additions related to TPG Acquisition	9,909
Additions related to acquisitions	3,191	3,788	2,739
Payments of contingent consideration	(2,200)	(19,093)	(5,587)
Loss on remeasurement	51	(322)	557
Ending Balance	$ 10,951	$ 9,909	$ 14,123

Future Principal Payments on Long Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Remainder of 2021	$ 809
2022	1,619
2023	1,619
2024	1,619
2025	1,619
Thereafter	154,607
Total	$ 161,892	$ 373,820

TPG Acquisition - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended	9 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021	Dec. 31, 2020	Apr. 13, 2020
Business Acquisition [Line Items]
Common Stock, Shares, Issued		374,149			374,149	0
Total consideration transferred	$ 4,980	$ 44,354	$ 31,316	$ 16,657	$ 45,862
Class of units					$ 381,823
Common Stock, par value		$ 0.01			$ 0.01	$ 0.01
Cash consideration					$ 670,941
Escrow deposit		$ 4,500			4,500
Fair value of net assets acquired	126,106			126,106
Goodwill	$ 926,658	$ 1,138,734		$ 926,658	1,138,734	$ 1,098,659	$ 0
Additional Cash Payment Related to a Working Capital Adjustment					$ (1,212)	2,977
Class A-1 Units
Business Acquisition [Line Items]
Common Stock, Shares, Issued		345,978			345,978
Class A-2 Common Units [Member]
Business Acquisition [Line Items]
Common Stock, Shares, Issued		35,845			35,845
Common Stock, par value		$ 1			$ 1
T P G Acquisition
Business Acquisition [Line Items]
Date of acquisition agreement					Apr. 14, 2020
Business acquisition, equity percentage interests acquired		100.00%			100.00%
Total consideration transferred					$ 1,052,764
Cash consideration					670,941
Goodwill		$ 926,658			926,658
Additional Cash Payment Related to a Working Capital Adjustment						$ 2,977
Transaction costs		$ 32,942			$ 32,942
T P G Acquisition \| Class A-1 Units
Business Acquisition [Line Items]
Common Stock, Shares, Issued		979,563			979,563
Class of units					$ 345,978
T P G Acquisition \| Class A-2 Common Units [Member]
Business Acquisition [Line Items]
Common Stock, Shares, Issued		35,845			35,845
Class of units					$ 35,845

TOTAL REVENUES - Schedule of Percentage Of Revenue From Insurance Companies (Details)	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Health Care Organization Receivable And Revenue Disclosures [Line Items]
% of Total Revenue	100.00%	100.00%	100.00%	100.00%	100.00%
Top five commercial payors
Health Care Organization Receivable And Revenue Disclosures [Line Items]
% of Total Revenue	70.00%	62.00%	65.00%	67.00%	63.00%
Top one payor
Health Care Organization Receivable And Revenue Disclosures [Line Items]
% of Total Revenue	24.00%	18.00%	21.00%	23.00%	19.00%
Top two payor
Health Care Organization Receivable And Revenue Disclosures [Line Items]
% of Total Revenue	17.00%	16.00%	21.00%	19.00%	17.00%
Top three payor
Health Care Organization Receivable And Revenue Disclosures [Line Items]
% of Total Revenue	12.00%	13.00%	11.00%	11.00%	13.00%

Stock And Unit-Based Compensation - Summary of Stock and Unit Based Compensation Award Valuation Assumptions (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free rate	0.14%	0.20%	0.14%
Volatility	80.00%	40.00%	80.00%
Time to liquidity event (years)	2 years	3 years	2 years
Discount for lack of marketability (DLOM)	0	20.00	0

Net Loss Per Share - Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss available to common stockholders'/members'	$ (300,397)	$ (70,033)	$ (4,342)	$ (298,189)	$ (115,465)
Weighted-average shares used to compute basic and diluted net loss per share		313,536	297,237		309,559
NET LOSS PER SHARE, BASIC AND DILUTED		$ 0.22	$ 0.01		$ 0.37

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1377-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

+ Details

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2021	Dec. 31, 2020
Common Unit, Outstanding	374,149	1,044,509
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	25,000	0
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	800,000	0
Common Stock, Shares, Issued	374,149	0
Common Stock, Shares, Outstanding	374,149	0
Redeemable Class A Unit
Temporary Equity, Shares Authorized	0	35,000
Temporary Equity, Shares Issued	0	35,000
Temporary Equity, Shares Outstanding	0	35,000
Common Unit Class A-1
Common Unit, Authorized	0	959,563
Common Unit, Issued	0	959,563
Common Unit, Outstanding	0	959,563
Common Unit Class A-2
Common Unit, Authorized	0	49,946
Common Unit, Issued	0	49,946
Common Unit, Outstanding	0	49,946
Common Unit Class B
Common Unit, Authorized	0	179,000
Common Unit, Issued	0	0
Common Unit, Outstanding	0	0

Related Party Transactions - Schedule of Related Party Rent Expenses (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Related Party Transactions [Abstract]
Rent expense	$ 148	$ 661	$ 107	$ 388	$ 1,197

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	Jul. 01, 2021	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Business Acquisition [Line Items]
Cash consideration		$ 4,103	$ 40,612	$ 23,625	$ 12,369	$ 41,312
Subsequent Event \| May 2020 Credit Agreement [Member]
Business Acquisition [Line Items]
Cash consideration	$ 21,108
Subsequent Event \| Maximum \| May 2020 Credit Agreement [Member]
Business Acquisition [Line Items]
Contingent consideration	$ 3,400

FAIR VALUE MEASUREMENTS - Summary of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration liability	$ 14,123	$ 16,414
Fair Value, Inputs, Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration liability	0	0
Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration liability	0	0
Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration liability	$ 14,123	$ 16,414

FAIR VALUE MEASUREMENTS - Additional Information (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Fair Value Disclosures [Abstract]
Materail assets or liabilities measured at fair value on a recurring basis	$ 0

GOODWILL - Schedule of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Goodwill [Line Items]
Beginning balance	$ 1,098,659	$ 0
Business acquisitions	41,287	169,024
Measurement period adjustment	(1,212)	2,977
Ending balance	1,138,734	1,098,659
T P G Acquisition
Goodwill [Line Items]
Business acquisitions		926,658
Measurement period adjustment		$ 2,977
Ending balance	$ 926,658

TOTAL REVENUES - Schedule of Revenue From Patients And Third - Party Payors (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Health Care Organization Receivable And Revenue Disclosures [Line Items]
Amount	$ 38,555	$ 160,549	$ 45,453	$ 111,661	$ 303,681
% of Total Revenue	100.00%	100.00%	100.00%	100.00%	100.00%
Commercial
Health Care Organization Receivable And Revenue Disclosures [Line Items]
Amount	$ 35,044	$ 147,391	$ 39,173	$ 98,146	$ 275,649
% of Total Revenue	91.00%	92.00%	86.00%	88.00%	91.00%
Government
Health Care Organization Receivable And Revenue Disclosures [Line Items]
Amount	$ 1,431	$ 6,488	$ 2,686	$ 5,411	$ 12,211
% of Total Revenue	4.00%	4.00%	6.00%	5.00%	4.00%
Self-pay
Health Care Organization Receivable And Revenue Disclosures [Line Items]
Amount	$ 1,276	$ 5,518	$ 2,287	$ 4,821	$ 13,282
% of Total Revenue	3.00%	3.00%	5.00%	4.00%	4.00%
Total patient service revenue
Health Care Organization Receivable And Revenue Disclosures [Line Items]
Amount	$ 37,751	$ 159,397	$ 44,146	$ 108,378	$ 301,142
% of Total Revenue	98.00%	99.00%	97.00%	97.00%	99.00%
Nonpatient service revenue
Health Care Organization Receivable And Revenue Disclosures [Line Items]
Amount	$ 804	$ 1,152	$ 1,307	$ 3,283	$ 2,539
% of Total Revenue	2.00%	1.00%	3.00%	3.00%	1.00%

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Related Party Transactions - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2021 Facility
Subsidiary Or Equity Method Investee [Line Items]
Number of office facilities \| Facility		14
Clinicians expiration		2034
Termination Fee \| $	$ 1,213

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2021

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consists of the following:


	Successor
	June 30, 2021			December 31, 2020
Leasehold improvements	$	56,233		$	39,586
Computers and peripherals		8,970			5,749
Furniture, fixtures and equipment		12,012			8,726
Medical equipment		2,603			2,143
Construction in process		22,092			7,577
Total	$	101,910		$	63,781
Less: Accumulated depreciation		(10,111	)		(4,432	)
Total property and equipment, net	$	91,799		$	59,349

Schedule of Depreciation Expense

Depreciation expense consists of the following:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Depreciation expense	$	3,070	$	5,679	$	763	$	657	$	1,900

Acquisitions - Schedule of Fair Values of Acquired Intangible Assets (Parenthetical) (Details)	6 Months Ended
	Jun. 30, 2021
Regional Trade Names [Member]
Business Acquisition [Line Items]
Useful lives for acquired intangible assets	5 years
Non-Competition Agreements [Member]
Business Acquisition [Line Items]
Useful lives for acquired intangible assets	5 years

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense Benefit

The benefit for income taxes is as follows:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Benefit from income taxes	$	3,788	$	6,549	$	1,370	$	3,022	$	2,319

Schedule of Effective Tax Rates

The effective tax rates are as follows:


	Successor									Predecessor
	Three months ended June 30, 2021			Six months ended June 30, 2021			April 13 to June 30, 2020			April 1 to May 14, 2020			January 1 to May 14, 2020
Effective tax rate		5.1	%		7.7	%		24.0	%		9.9	%		8.5	%

Related Party Transactions

6 Months Ended

Jun. 30, 2021

Related Party Transactions

NOTE 15 RELATED PARTY TRANSACTIONS

The Company leases 14 office facilities under operating leases with clinicians expiring through 2034. The leases provide for monthly minimum rent payments, and some include renewal options for additional terms. Minimum rent payments under operating leases are recognized on a straight-line basis over the term of the lease. Total related-party rent expense included in center costs in the unaudited consolidated statements of income/(loss) and comprehensive income/(loss) amounted to:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Rent expense	$	661	$	1,197	$	107	$	148	$	388

A summary of non-cancelable future minimum operating lease payments under these leases as of June 30, 2021 (Successor) is as follows:


	Amount
Remainder of 2021	$	1,376
2022		2,678
2023		2,384
2024		2,102
2025		2,011
Thereafter		682
Total	$	11,233

In addition, management fees to TPG and certain executives of the Company were identified as related party transactions. As a result of the Company’s IPO, the Company incurred a termination fee of $1,213 under its management services agreement in the second quarter of 2021. Total related-party management fees amounted to:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Management fees	$	1,356	$	1,445	$	16	$	14	$	14

Redeemable Convertible Preferred Units

6 Months Ended

Jun. 30, 2021

Temporary Equity Disclosure [Abstract]

Redeemable Convertible Preferred Units

NOTE 12 REDEEMABLE CONVERTIBLE PREFERRED UNITS

On July 20, 2017, LifeStance Health, LLC executed an Amended and Restated Limited Liability Company Agreement which established the terms of the Series A-1 redeemable convertible preferred units (“Series A-1 Preferred Units”) and Series A redeemable convertible preferred units (“Series A Preferred Units”) (collectively, referred to as the “Preferred Units”), which were issued to various investors and employees of the Company.

In connection with the TPG Acquisition, the holders of LifeStance Health, LLC’s Preferred Units exchanged 100% of their units for equity interests in LifeStance Holdings and the historic Preferred Unit holders contributed all of their interest in LifeStance Holdings to LifeStance TopCo, in exchange for LifeStance TopCo’s Class A-1 Common Units and Class A-2 Common Units. The Preferred Units were adjusted through a reverse unit split. The Preferred Units are classified as mezzanine equity in the consolidated balance sheets and remeasured to their redemption value at each reporting date. The Series A Preferred Units’ redemption value is equal to its issuance price; as such, no remeasurement adjustment amount was recorded for the period ended May 14, 2020. The Series A-1 Preferred Units’ redemption value is equal to the greater of i) fair value at the redemption date, and ii) the sum of the issuance price plus any accumulated but unpaid dividends. Changes in the carrying amount of the Series A-1 Preferred Units will be charged against retained earnings (or additional paid-in capital in the absence of retained earnings until exhausted, at which point any remainder would increase accumulated deficit). The table below includes the number of authorized

units and issued units, as well as the issuance price, liquidation preference and initial carrying amount of the Preferred Units immediately prior to the TPG Acquisition, which occurred on May 14, 2020.


	Year of Issuance	Authorized Units		Issued Units		Issuance Price per Unit		Liquidation Preference		Initial Carrying Amount
Unit Series
Series A-1	2017		110,898		87,000	$	1.00	$	106,978	$	87,000
	2018		110,898		22,838		1.00		26,568		22,838
					109,838			$	133,546	$	109,838
Series A	2017		23,600		11,741	$	1.00	$	14,504	$	11,741
	2018		23,600		1,500		1.50		2,536		2,250
	2019		23,600		2,885		2.00		6,276		5,770
					16,126			$	23,316	$	19,761

As discussed above, pursuant to the TPG Acquisition (see Note 3), the historic holders of Series A and Series A-1 Preferred Units exchanged all the units for equity interests in LifeStance Holdings, and subsequently exchanged equity interests for the successor’s Class A-1 Units and Class A-2 Units. See Note 14 for more details on the exchange.

Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 5 INTANGIBLE ASSETS

Intangible assets consists of the following:


June 30, 2021 (Successor)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life (Years)
Regional trade names	$	32,393	$	(6,286	)	$	26,107		5.0
LifeStance trade names		235,500		(11,857	)		223,643		22.5
Non-competition agreements		91,234		(24,450	)		66,784		4.2
Total intangible assets	$	359,127	$	(42,593	)	$	316,534


December 31, 2020 (Successor)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life (Years)
Regional trade names	$	30,477	$	(3,178	)	$	27,299		5.0
LifeStance trade names		235,500		(6,624	)		228,876		22.5
Non-competition agreements		90,089		(13,468	)		76,621		4.1
Total intangible assets	$	356,066	$	(23,270	)	$	332,796

Gross carrying amount is based on the fair value of the intangible assets determined at acquisitions. Total intangible asset amortization expense consists of the following:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Amortization expense	$	9,704	$	19,323	$	4,669	$	503	$	1,435

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Aug. 12, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Entity Registrant Name	LifeStance Health Group, Inc.
Entity Central Index Key	0001845257
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Trading Symbol	LFST
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		374,148,648
Entity File Number	001-40478
Entity Tax Identification Number	86-1832801
Entity Address, Address Line Two	Suite 6000
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	4800 N. Scottsdale Road
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85251
City Area Code	425
Local Phone Number	279-8500

Commitments and Contingencies - Schedule of Third-party Rent Expense (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Loss Contingencies [Line Items]
Total rent expense	$ 1,316	$ 7,526	$ 2,356	$ 4,210	$ 14,104
Center Cost [Member]
Loss Contingencies [Line Items]
Total rent expense	1,268	7,173	2,295	4,082	13,576
General And Administrative Expense [Member]
Loss Contingencies [Line Items]
Total rent expense	$ 48	$ 353	$ 61	$ 128	$ 528

Nature of the Business

6 Months Ended

Jun. 30, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Nature of the Business

NOTE 1 NATURE OF THE BUSINESS

Description of Business

LifeStance Health Group, Inc. (“LifeStance Health Group”) was formed as a Delaware corporation on January 28, 2021. The Company was formed for the purpose of completing an initial public offering (“IPO”) and related transactions in order to carry on the business of LifeStance TopCo, L.P. (“LifeStance TopCo”) and subsidiaries. LifeStance Health Group is the sole equity holder of LifeStance TopCo and operates and controls all of the business and affairs. As a result, LifeStance Health Group consolidates the financial results of LifeStance TopCo, its wholly-owned subsidiaries and variable interest entities. LifeStance Health Group and LifeStance TopCo are collectively referred to herein as the “Company”, "LifeStance" or "LifeStance Health".

The Company operates as a provider of outpatient mental health services, spanning psychiatric evaluations and treatment, psychological and neuropsychological testing, and individual, family and group therapy.

Initial Public Offering

On June 14, 2021, the Company completed its IPO in which it issued and sold 32,800 shares of common stock and affiliates of TPG Global LLC ("TPG"), affiliates of Silversmith Capital Partners ("Silversmith"), affiliates of Summit Partners ("Summit") (collectively, the "Selling Shareholders") sold 7,200 shares of common stock at an offering price of $18.00 per share. The Selling Shareholders granted the underwriters an option to purchase an additional 6,000 shares of common stock. The underwriters exercised in full their option to purchase additional shares, and the sale of the option shares was completed on June 25, 2021. The Company received net proceeds of $548,905, after deducting underwriting discounts and commissions of $32,472 and deferred offering costs of $9,023. The Company did not receive any proceeds from the sale of shares by the Selling Stockholders, including the option shares. Deferred, direct offering costs were capitalized and consisted of fees and expenses incurred in connection with the sale of the Company’s common stock in the IPO, including legal, accounting, printing and other offering related costs. Upon completion of the IPO, these deferred offering costs were reclassified from current assets to stockholders’ equity and recorded against the net proceeds from the offering.

Prior to the IPO, each of the holders of partnership interests in LifeStance TopCo contributed its partnership interests to LifeStance Health Group in exchange for shares of common stock (including shares of common stock issued as restricted stock subject to vesting) of LifeStance Health Group (the "Organizational Transactions"). Following the contribution of partnership interests, LifeStance TopCo became wholly-owned by LifeStance Health Group. The number of shares of common stock that each such holder of partnership interests in LifeStance TopCo received was determined based on the value that such holder would have received under the distribution provisions of the limited partnership agreement of LifeStance TopCo, with shares of common stock valued by reference to the IPO price. All 1,046,196 units of LifeStance TopCo’s outstanding redeemable and common Class A units and Class B units (the "Class B Common Units", "Profits Interests Units" or "Profits Interests") were contributed in exchange for 310,083 shares of common stock of LifeStance Health Group plus 30,766 shares of common stock issued as restricted stock subject to vesting. As a result of this contribution and exchange, the Company reclassified $71,648 of redeemable units and $1,008,688 of common units to additional paid-in capital and $3,408 to common stock on the Company’s consolidated balance sheets.

In connection with the IPO, the Company established the LifeStance Health Foundation, a non-profit organization that focuses on youth mental health, and the mental health of underrepresented minority communities, the underemployed and the uninsured. While the LifeStance Health Foundation was founded by LifeStance and will be operated by a board of directors that the Company expects to include from time to time certain of its officers and employees, including its Chief Executive Officer, the LifeStance Health Foundation was established as an independent legal entity and will not be owned or controlled by LifeStance or its stockholders. Concurrently with the closing of the IPO, the

Company endowed the LifeStance Health Foundation through a combination of $1,000 in cash and 500 shares of its common stock, representing aggregate cash and equity value of $10,000.

Following the effective date of the IPO, LifeStance Health Group consolidates the financial results of LifeStance TopCo, its wholly-owned subsidiaries and variable interest entities ("VIE's") and the financial statements for the periods prior to the IPO have been adjusted to combine the previously separate entities for presentation purposes. Prior to the IPO restructuring transactions, LifeStance Health Group had no operations.

Income Taxes

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 11 INCOME TAXES

The benefit for income taxes is as follows:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Benefit from income taxes	$	3,788	$	6,549	$	1,370	$	3,022	$	2,319

The effective tax rates are as follows:


	Successor									Predecessor
	Three months ended June 30, 2021			Six months ended June 30, 2021			April 13 to June 30, 2020			April 1 to May 14, 2020			January 1 to May 14, 2020
Effective tax rate		5.1	%		7.7	%		24.0	%		9.9	%		8.5	%

The difference between the Company’s effective tax rate and the U.S. statutory tax rate of 21% was primarily due to state taxes and permanent differences. The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all the deferred tax assets will not be realized. No valuation allowance was recognized as of June 30, 2021 (Successor) or December 31, 2020 (Successor).

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Acquisitions - Schedule of Fair Values of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Business Acquisition [Line Items]
Acquired intangible assets, Fair value	$ 308	$ 2,936	$ 3,144	$ 2,080	$ 3,061
Regional Trade Names [Member]
Business Acquisition [Line Items]
Acquired intangible assets, Fair value	190	1,839	2,038	1,721	1,916
Non-Competition Agreements [Member]
Business Acquisition [Line Items]
Acquired intangible assets, Fair value	$ 118	$ 1,097	$ 1,106	$ 359	$ 1,145

Commitments and Contingencies

6 Months Ended

Jun. 30, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 16 COMMITMENTS AND CONTINGENCIES

Contingent Consideration relating to Prior Acquisitions

For the three and six months ended June 30, 2021 (Successor), there were post-closing payments contingent upon the future performance of the Company’s recently acquired targets achieving certain agreed-upon performance metrics. Contingent consideration is recorded at fair value and was recognized in the purchase price allocation (see Note 4) of the acquired company.

The following table presents changes to the Company’s contingent consideration balance:


	Amount
Balance as of January 1, 2021 (Successor)	$	16,414
Additions related to acquisitions		2,739
Payments of contingent consideration		(5,587	)
Loss on remeasurement		557
Ending balance as of June 30, 2021 (Successor)	$	14,123


	Amount
Balance as of April 13, 2020 (Successor)	$	—
Additions related to TPG Acquisition		9,909
Additions related to acquisitions		3,191
Payments of contingent consideration		(2,200	)
Loss on remeasurement		51
Ending balance as of June 30, 2020 (Successor)	$	10,951

	Amount
Balance as of January 1, 2020 (Predecessor)	$	25,536
Additions related to acquisitions		3,788
Payments of contingent consideration		(19,093	)
Gain on remeasurement		(322	)
Ending balance as of May 14, 2020 (Predecessor)	$	9,909

Leases with Third Parties

The Company leases its office facilities under operating leases expiring through 2029. The leases provide for monthly minimum rent payments, and some include renewal options for additional terms. Minimum rent payments under operating leases are recognized on a straight-line basis over the term of the lease. Total third-party rent expense amounted to as follows in the unaudited consolidated statements of income/(loss) and comprehensive income/(loss):


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Center costs	$	7,173	$	13,576	$	2,295	$	1,268	$	4,082
General and administrative expenses		353		528		61		48		128
Total rent expense	$	7,526	$	14,104	$	2,356	$	1,316	$	4,210

A summary of non-cancellable future minimum third-party operating lease payments under these leases as of June 30, 2021 (Successor) is as follows:


	Amount
Remainder of 2021	$	11,980
2022		23,650
2023		21,976
2024		18,064
2025		13,965
Thereafter		25,345
Total	$	114,980

Professional Liability Insurance

The medical malpractice insurance coverage is subject to a $8,000 per claim limit and an annual aggregate limit of $12,000 per clinician. Should the claims-made policy not be renewed or replaced with equivalent insurance, claims based on occurrences during its term, but reported subsequently, would be uninsured. The Company is not aware of any unasserted claims, unreported incidents, or claims outstanding that are expected to exceed malpractice insurance coverage limits as of June 30, 2021 (Successor).

Health Care Industry

The health care industry is subject to numerous laws and regulations of federal, state, and local governments. These laws and regulations include, but are not necessarily limited to, matters such as licensure, accreditation, and government health care program participation requirements, reimbursement for patient services, and Medicare fraud and abuse. Recently, government activity has increased with respect to investigations and allegations concerning possible violations of fraud and abuse statutes and regulations by health care providers. Violation of these laws and regulations could result in expulsion from government health care programs together with imposition of significant fines and penalties, as well as significant repayments for patient services billed.

Laws and regulations concerning government programs, including Medicare and Medicaid, are complex and subject to varying interpretation. As a result of investigations by governmental agencies, various health care companies have received requests for information and notices regarding alleged noncompliance with those laws and regulations, which, in some instances, have resulted in companies entering into significant settlement agreements. Compliance with such laws and regulations may also be subject to future government review and interpretation as well as significant regulatory action, including fines, penalties, and potential exclusion from the related programs. There can be no assurance that regulatory authorities will not challenge the Company’s compliance with these laws and regulations, and it is not possible to determine the impact (if any) such claims or penalties would have upon the Company. In addition, the contracts the Company has with commercial payors also provide for retroactive audit and review of claims.

Management believes that the Company is in substantial compliance with fraud and abuse as well as other applicable government laws and regulations. While no regulatory inquiries have been made, compliance with such laws and regulations is subject to government review and interpretation, as well as regulatory actions unknown or unasserted at this time.

In response to the COVID-19 pandemic, state and federal regulatory authorities loosened or removed a number of regulatory requirements in order to increase the availability of telehealth services. For example, many state governors issued executive orders permitting physicians and other health care professionals to practice in their state without any additional licensure or by using a temporary, expedited or abbreviated licensure process so long as they hold a valid license in another state. In addition, changes were made to the Medicare and Medicaid programs (through waivers and other regulatory authority) to increase access to telehealth services by, among other things, increasing reimbursement, permitting the enrollment of out of state providers and eliminating prior authorization requirements. It is uncertain

how long these COVID-19 related regulatory changes will remain in effect and whether they will continue beyond this public health emergency period. Management does not believe that the Company’s operations or results will be materially adversely affected by a return to the status quo from a regulatory perspective.

General Contingencies

The Company is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions, injuries to employees, and natural disasters. These risks are covered by commercial insurance purchased from independent third parties. There has been no significant reduction in insurance coverage from the previous year in any of the Company’s policies.

Litigation

The Company may be involved from time-to-time in legal actions relating to the ownership and operations of its business. In management’s opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a material adverse effect on the financial position, results of operations, or cash flows of the Company.

Acquisitions - Summary of Consideration Transferred (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Business Acquisition [Line Items]
Cash consideration	$ 4,103	$ 40,612	$ 23,625	$ 12,369	$ 41,312
Contingent consideration, at initial fair value	0	325	0	0	325
Class of units					381,823
Debt consideration	0	0	0	500	0
Total consideration transferred	4,980	44,354	31,316	16,657	45,862
Debt
Business Acquisition [Line Items]
Debt consideration	0	1,486	4,500	0	1,486
Class A-2 Common Units [Member]
Business Acquisition [Line Items]
Class of units	$ 877	$ 1,931	$ 3,191	$ 3,788	$ 2,739

TOTAL REVENUES

6 Months Ended

Jun. 30, 2021

Revenues [Abstract]

TOTAL REVENUES

NOTE 10 TOTAL REVENUES

The Company’s total revenues are dependent on a series of contracts with third-party payors, which is typical for providers in the health care industry. The Company has determined that the nature, amount, timing and uncertainty of revenue and cash flows are affected by the payor mix with third-party payors, which have different reimbursement rates.

The payor mix of fee-for-service revenue from patients and third-party payors consists of the following:


	Successor
	Three months ended June 30, 2021					Six months ended June 30, 2021					April 13 to June 30, 2020
	Amount		% of Total Revenue			Amount		% of Total Revenue			Amount		% of Total Revenue
Commercial	$	147,391		92	%	$	275,649		91	%	$	39,173		86	%
Government		6,488		4	%		12,211		4	%		2,686		6	%
Self-pay		5,518		3	%		13,282		4	%		2,287		5	%
Total patient service revenue		159,397		99	%		301,142		99	%		44,146		97	%
Nonpatient service revenue		1,152		1	%		2,539		1	%		1,307		3	%
Total	$	160,549		100	%	$	303,681		100	%	$	45,453		100	%


	Predecessor
	April 1 to May 14, 2020					January 1 to May 14, 2020
	Amount		% of Total Revenue			Amount		% of Total Revenue
Commercial	$	35,044		91	%	$	98,146		88	%
Government		1,431		4	%		5,411		5	%
Self-pay		1,276		3	%		4,821		4	%
Total patient service revenue		37,751		98	%		108,378		97	%
Nonpatient service revenue		804		2	%		3,283		3	%
Total	$	38,555		100	%	$	111,661		100	%

Among the commercial payors, five insurance companies comprise the following percentage of revenue. Three payors individually exceed 10% of the Company’s revenue for three months ended June 30, 2021 (Successor), the six months

ended June 30, 2021 (Successor), the period from April 13, 2020 to June 30, 2020 (Successor), the period from April 1, 2020 to May 14, 2020 (Predecessor), and the period from January 1, 2020 to May 14, 2020 (Predecessor).


	Successor									Predecessor
	Three months ended June 30, 2021			Six months ended June 30, 2021			April 13 to June 30, 2020			April 1 to May 14, 2020			January 1 to May 14, 2020
Top five commercial payors		62	%		63	%		65	%		70	%		67	%
Top one payor		18	%		19	%		21	%		24	%		23	%
Top two payor		16	%		17	%		21	%		17	%		19	%
Top three payor		13	%		13	%		11	%		12	%		11	%

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Acquisitions - Schedule of Maximum Contingent Consideration Based on the Acquisition Agreements (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Contingent Consideration [Member]
Business Acquisition [Line Items]
Maximum contingent consideration based on acquisition agreements	$ 1,086	$ 2,350	$ 10,300	$ 4,336	$ 3,350

Summary of Interest Expense (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Debt Disclosure [Abstract]
Interest expense	$ 1,340	$ 23,174	$ 5,562	$ 3,020	$ 31,806

Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

The following table presents the calculation of basic and diluted net income/(loss) per share (“EPS”) for the Company’s common shares (on an as-converted basis):


	Successor
	Three months ended June 30, 2021			Six months ended June 30, 2021			April 13 to June 30, 2020
Net loss available to common stockholders'/members'	$	(70,033	)	$	(115,465	)	$	(4,342	)
Weighted-average shares used to compute basic and diluted net loss per share		313,536			309,559			297,237
Net loss per share, basic and diluted	$	(0.22	)	$	(0.37	)	$	(0.01	)

Commitments and Contingencies - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Lease expiration year	2029
Medical malpractice insurance, coverage per claim limit	$ 8,000
Medical malpractice insurance, annual coverage per clinician	$ 12,000

Acquisitions - Additional Information (Details) - Facility	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Business Combinations [Abstract]
Acquisitions of outpatient mental health practices	3	10	4	7	11

Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2021

Schedule Of Related-party Rent Expense

Total related-party rent expense included in center costs in the unaudited consolidated statements of income/(loss) and comprehensive income/(loss) amounted to:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Rent expense	$	661	$	1,197	$	107	$	148	$	388

Schedule Of Future Minimum Rental Payments For Operating Leases Table

A summary of non-cancelable future minimum operating lease payments under these leases as of June 30, 2021 (Successor) is as follows:


	Amount
Remainder of 2021	$	1,376
2022		2,678
2023		2,384
2024		2,102
2025		2,011
Thereafter		682
Total	$	11,233

Total related-party management fees amounted to:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Management fees	$	1,356	$	1,445	$	16	$	14	$	14

Income Taxes - Schedule of Effective Tax Rates (Details)	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Income Statement [Abstract]
Effective tax rate	9.90%	5.10%	24.00%	8.50%	7.70%

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Summary of the Significant Assumptions Used for the Fair Value Measurement of the Contingent Consideration Liability

The following is the summary of the significant assumptions used for the fair value measurement of the contingent consideration liability as of June 30, 2021 (Successor) and December 31, 2020 (Successor).


Valuation Technique	Range of Significant Assumptions
		Successor
		June 30, 2021
Probability-weighted analysis	Probability	25% - 100%
based earn-outs (1)	Discount rate	8.65% - 8.68%


Valuation Technique	Range of Significant Assumptions
		Successor
		December 31, 2020
Monte Carlo Simulation	Expected EBITDA	Acquisition specific
EBITDA based earn-outs	Discount rate	16.15% - 19.65%
	Counter-party risk premium	8.46% - 8.77%
	Volatility	50%

Probability-weighted analysis	Probability	25% - 100%
FTE based earn-outs	Discount rate	8.65% - 8.68%

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis using the above input categories:


June 30, 2021 (Successor)	Level 1		Level 2		Level 3		Total
Financial Instrument
Contingent consideration liability	$	—	$	—	$	14,123	$	14,123


December 31, 2020 (Successor)	Level 1		Level 2		Level 3		Total
Financial Instrument
Contingent consideration liability	$	—	$	—	$	16,414	$	16,414

Stock And Unit-Based Compensation - Additional Information (Details) $ in Thousands	1 Months Ended			3 Months Ended	4 Months Ended	6 Months Ended
	Aug. 31, 2021 shares	Jun. 30, 2021 USD ($) shares	May 14, 2020 USD ($)	Jun. 30, 2021 USD ($) shares	May 14, 2020 USD ($)	Jun. 30, 2021 USD ($) shares	Jun. 09, 2021 shares
Restricted Stock Units RSU [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensattion expense \| $		$ 450,908		$ 450,908		$ 450,908
Unrecognized compensattion expense, weighted-average period						2 years 10 months 24 days
Class B Profits Interests Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company's common stock							152,865,000
2021 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company's common stock		47,037,000		47,037,000		47,037,000
Share-based compensation arrangement by share-based payment award, description		The share pool will automatically increase on January 1 of each year beginning in 2022 and continuing through and including 2031 by the lesser of (i) five percent of the number of shares of the Company’s common stock outstanding as of the close of business on the immediately preceding December 31 and (ii) the number of shares determined by the Board on or prior to such date for such year.
2021 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, description	January 1 of each year beginning in 2022 and continuing through and including 2031, equal to the lesser of (i) one percent of the number of shares of the Company’s common stock outstanding as of the close of business on the immediately preceding December 31 and (ii) the number of shares determined by the Board on or prior to such date for such year, up to a maximum of 42,500 shares of the Company’s common stock in the aggregate.
Exercise o stock options	6,817,000
Percentage of Purchase Price	85
2021 Employee Stock Purchase Plan [Member] \| Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Issued During Period, Shares, Employee Stock Purchase Plans						0
2021 Employee Stock Purchase Plan [Member] \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company's common stock	42,500,000
Percentage of deduction on pay roll.	15
Class C Units and Class A Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Payment Arrangement, Expense \| $			$ 0		$ 0
Class B Profits Interests Units [Member] \| Restricted Stock Units RSU [Member] \| IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock compensation expense \| $				$ 28,985		$ 28,985
Class B Profits Interests Units [Member] \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company's common stock							179,190,000

Long- Term Debt (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Summary of Long-term Debt Instruments

Long-term debt consists of the following:


	Successor
	June 30, 2021			December 31, 2020
Term loans	$	71,140		$	283,950
Delayed Draw loans		90,752			89,870
Total long-term debt		161,892			373,820
Less: Current portion of long-term debt		(1,619	)		(3,738	)
Less: Debt issue costs		(3,206	)		(7,548	)
Total Long-Term Debt, Net of Current Portion and Debt Issue Costs	$	157,067		$	362,534

Summary of Interest Expense

Interest expense, including prepayment charge, consists of the following:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Interest expense	$	23,174	$	31,806	$	5,562	$	1,340	$	3,020

Summary of Maturities of Long-term Debt

Future principal payments on long-term debt are as follows:


	Amount
Remainder of 2021	$	809
2022		1,619
2023		1,619
2024		1,619
2025		1,619
Thereafter		154,607
Total	$	161,892

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Summary Of Consideration Transferred

Total consideration transferred for these acquisitions consisted of the following:


	Successor						Predecessor
Total consideration transferred	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Cash consideration	$	40,612	$	41,312	$	23,625	$	4,103	$	12,369
Cash consideration to be paid		325		325		—		—		—
Contingent consideration, at initial fair value		1,931		2,739		3,191		877		3,788
Class A-2 common units1		1,486		1,486		4,500		—		—
Debt consideration		—		—		—		—		500
Total consideration transferred	$	44,354	$	45,862	$	31,316	$	4,980	$	16,657

(1)

Excludes 511 Class A-2 common units related to the promissory note (see “Debt consideration”) issued during the Predecessor period that was subsequently converted to equity during the Successor period.

Schedule of Recognized Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed as of the dates of acquisition:


	Successor						Predecessor
Allocation of Purchase Price	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Cash	$	2,008	$	2,048	$	1,248	$	212	$	238
Patient accounts receivable		3,515		3,799		3,382		293		1,344
Property and equipment		676		694		590		79		234
Prepaid expenses and other current assets		221		227		77		9		68
Deposits		86		91		192		19		87
Intangible assets		2,936		3,061		3,144		308		2,080
Goodwill		40,170		41,287		24,659		4,324		14,099
Total assets acquired		49,612		51,207		33,292		5,244		18,150
Current liabilities		5,258		5,345		1,976		264		1,493
Total liabilities assumed		5,258		5,345		1,976		264		1,493
Fair value of net assets	$	44,354	$	45,862	$	31,316	$	4,980	$	16,657

Schedule of Fair Values of Acquired Intangible Assets

The following table summarizes the fair values of acquired intangible assets as of the dates of acquisition:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Regional trade names (1)	$	1,839	$	1,916	$	2,038	$	190	$	1,721
Non-Competition Agreements (2)		1,097		1,145		1,106		118		359
Total	$	2,936	$	3,061	$	3,144	$	308	$	2,080

(1)

Useful lives for regional trade names are 5 years.

(2)

Useful lives for non-competition agreements are 5 years.

Schedule of Maximum Contingent Consideration Based on the Acquisition Agreements

The following table summarizes the maximum contingent consideration based on the acquisition agreements:


	Successor						Predecessor
Contingent consideration	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Maximum contingent consideration based on acquisition agreements	$	2,350	$	3,350	$	10,300	$	1,086	$	4,336

Related Party Transactions - Schedule of Future Minimum Operating Lease Payments (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Related Party Transactions [Abstract]
Remainder of 2021	$ 1,376
2022	2,678
2023	2,384
2024	2,102
2025	2,011
Thereafter	682
Total	$ 11,233

TPG Acquisition (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Business Combination Consideration Transferred

Total consideration transferred consisted of the following:


Cash consideration	$	670,941
Class A-1 units		345,978
Class A-2 units		35,845
Total consideration transferred	$	1,052,764

Schedule of Recognized Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed as of the dates of acquisition:


	Successor						Predecessor
Allocation of Purchase Price	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Cash	$	2,008	$	2,048	$	1,248	$	212	$	238
Patient accounts receivable		3,515		3,799		3,382		293		1,344
Property and equipment		676		694		590		79		234
Prepaid expenses and other current assets		221		227		77		9		68
Deposits		86		91		192		19		87
Intangible assets		2,936		3,061		3,144		308		2,080
Goodwill		40,170		41,287		24,659		4,324		14,099
Total assets acquired		49,612		51,207		33,292		5,244		18,150
Current liabilities		5,258		5,345		1,976		264		1,493
Total liabilities assumed		5,258		5,345		1,976		264		1,493
Fair value of net assets	$	44,354	$	45,862	$	31,316	$	4,980	$	16,657

Schedule of Acquired Intangible Assets

The following table summarizes the fair values of acquired intangible assets as of the date of the TPG Acquisition:


	Amount		Useful Life
Trade names – Corporate	$	235,500	22.5 years
Trade names – Regional		22,900	5 years
Non-competition agreements – Executives		77,500	4 years
Non-competition agreements – Providers		8,400	5 years
Total intangible assets	$	344,300

Schedule Of Unaudited Pro Forma Revenue and Net Loss

The Company’s unaudited pro forma revenue and net loss for the years ended December 31, 2020 and 2019 below have been prepared as if the TPG Acquisition occurred on January 1, 2019.


	Year ended December 31, 2020			Year ended December 31, 2019
Revenue	$	377,217		$	212,518
Net loss	$	(26,727	)	$	(52,463	)

T P G Acquisition

Schedule of Recognized Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed as of the date of acquisition:


Allocation of Purchase Price	Amount
Cash	$	27,224
Patient accounts receivable		25,152
Property and equipment		34,813
Prepaid expenses and other current assets		9,590
Deposits		1,766
Intangible assets		344,300
Goodwill		926,658
Total assets acquired		1,369,503
Accounts payable		3,456
Accrued payroll expenses		25,739
Other accrued expenses		48,655
Current portion of contingent consideration		5,861
Other current liabilities		1,848
Long-term debt, net		135,006
Other noncurrent liabilities		9,617
Contingent consideration, net of current portion		4,048
Deferred tax liability, net		82,509
Total liabilities assumed		316,739
Fair value of net assets	$	1,052,764

Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 359,127	$ 356,066
Accumulated Amortization	(42,593)	(23,270)
Net Carrying Amount	316,534	332,796
Regional Trade Names
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	32,393	30,477
Accumulated Amortization	(6,286)	(3,178)
Net Carrying Amount	$ 26,107	$ 27,299
Intangible assets useful life	5 years	5 years
Life Stance Trade Names
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 235,500	$ 235,500
Accumulated Amortization	(11,857)	(6,624)
Net Carrying Amount	$ 223,643	$ 228,876
Intangible assets useful life	22 years 6 months	22 years 6 months
Non-Competition Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 91,234	$ 90,089
Accumulated Amortization	(24,450)	(13,468)
Net Carrying Amount	$ 66,784	$ 76,621
Intangible assets useful life	4 years 2 months 12 days	4 years 1 month 6 days

TPG Acquisition - Summary of Recognized Asset acquired and Liability Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	May 14, 2020	Apr. 13, 2020
Business Acquisition [Line Items]
Goodwill	$ 1,138,734	$ 1,098,659	$ 926,658	$ 0
Current portion of contingent consideration	14,123	16,414
Current portion of contingent consideration	10,876	$ 10,563
T P G Acquisition
Business Acquisition [Line Items]
Cash	27,224
Patient accounts receivable	25,152
Property and equipment	34,813
Prepaid expenses and other current assets	9,590
Deposits	1,766
Intangible assets	344,300
Goodwill	926,658
Total assets acquired	1,369,503
Accounts payable	3,456
Accrued payroll expenses	25,739
Other accrued expenses	48,655
Current portion of contingent consideration	5,861
Other current liabilities	1,848
Long-term debt, net	135,006
Other noncurrent liabilities	9,617
Current portion of contingent consideration	4,048
Deferred tax liability, net	82,509
Total liabilities assumed	316,739
Fair value of net assets	$ 1,052,764

Commitments and Contingencies - Summary of Future Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2021 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Remainder of 2021	$ 1,376
2022	2,678
2023	2,384
2024	2,102
2025	2,011
Thereafter	682
Total	11,233
Contingent Consideration [Member]
Business Acquisition, Contingent Consideration [Line Items]
Remainder of 2021	11,980
2022	23,650
2023	21,976
2024	18,064
2025	13,965
Thereafter	25,345
Total	$ 114,980

Acquisitions

6 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Acquisitions

NOTE 4 ACQUISITIONS

During three months ended June 30, 2021 (Successor), the six months ended June 30, 2021 (Successor), the period from April 13, 2020 to June 30, 2020 (Successor), the period from April 1, 2020 to May 14, 2020 (Predecessor), and the period from January 1, 2020 to May 14, 2020 (Predecessor), the Company completed the acquisitions of 10, 11, 4, 3, and 7 outpatient mental health practices, respectively, and realize synergies in the mental health markets. The Company accounted for the acquisitions as business combinations using the acquisition method of accounting. The purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the respective acquisition dates.

Total consideration transferred for these acquisitions consisted of the following:


	Successor						Predecessor
Total consideration transferred	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Cash consideration	$	40,612	$	41,312	$	23,625	$	4,103	$	12,369
Cash consideration to be paid		325		325		—		—		—
Contingent consideration, at initial fair value		1,931		2,739		3,191		877		3,788
Class A-2 common units1		1,486		1,486		4,500		—		—
Debt consideration		—		—		—		—		500
Total consideration transferred	$	44,354	$	45,862	$	31,316	$	4,980	$	16,657

(1)

The results of the acquired businesses have been included in the Company’s consolidated financial statements beginning after their acquisition dates. It is impracticable to provide historical supplemental pro forma financial information along with revenue and earnings subsequent to the acquisition dates for acquisitions during the period due to a variety of factors, including access to historical information and the operations of acquirees being integrated within the Company shortly after closing and not operating as discrete entities within the Company’s organizational structure.

Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed as of the dates of acquisition:


	Successor						Predecessor
Allocation of Purchase Price	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Cash	$	2,008	$	2,048	$	1,248	$	212	$	238
Patient accounts receivable		3,515		3,799		3,382		293		1,344
Property and equipment		676		694		590		79		234
Prepaid expenses and other current assets		221		227		77		9		68
Deposits		86		91		192		19		87
Intangible assets		2,936		3,061		3,144		308		2,080
Goodwill		40,170		41,287		24,659		4,324		14,099
Total assets acquired		49,612		51,207		33,292		5,244		18,150
Current liabilities		5,258		5,345		1,976		264		1,493
Total liabilities assumed		5,258		5,345		1,976		264		1,493
Fair value of net assets	$	44,354	$	45,862	$	31,316	$	4,980	$	16,657

The following table summarizes the fair values of acquired intangible assets as of the dates of acquisition:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Regional trade names (1)	$	1,839	$	1,916	$	2,038	$	190	$	1,721
Non-Competition Agreements (2)		1,097		1,145		1,106		118		359
Total	$	2,936	$	3,061	$	3,144	$	308	$	2,080

(1)

Useful lives for regional trade names are 5 years.

(2)

Useful lives for non-competition agreements are 5 years.

Contingent Consideration

Under the provisions of the acquisition agreements, the Company may pay additional cash consideration in the form of earnouts, contingent upon the acquirees achieving certain performance and operational targets including Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) measures and employee retention and growth (see Note 7).

The following table summarizes the maximum contingent consideration based on the acquisition agreements:


	Successor						Predecessor
Contingent consideration	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Maximum contingent consideration based on acquisition agreements	$	2,350	$	3,350	$	10,300	$	1,086	$	4,336

Stockholders' Equity Members' Deficit (Tables)

6 Months Ended

Jun. 30, 2021

Stockholders Equity Note [Abstract]

Schedule of Common Stock

The Company’s common stock/units consisted of the following common units and common stock as of the periods ended June 30, 2021 (Successor) and December 31, 2020 (Successor):


	Redeemable Class A Units			Class A-1 Units			Class A-2 Units			Class B Units			Common Stock		Total
Balance as of April 13, 2020 (Successor)		—			—			—			—			—		—
Issued		35,000			959,563			49,946			—			—		1,044,509
Balance as of December 31, 2020		35,000			959,563			49,946			—			—		1,044,509
Issued		—			—			1,687			—			—		1,687
Vested Class B Profits Interests		—			—			—			17,920			—		17,920
Conversion of pre-IPO units to common stock		(35,000	)		(959,563	)		(51,633	)		(17,920	)		340,849		(723,267	)
Initial Public Offering		—			—			—			—			32,800		32,800
Endowment to the LifeStance Health Foundation		—			—			—			—			500		500
Balance as of June 30, 2021 (Successor)		—			—			—			—			374,149		374,149

GOODWILL (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Goodwill

Goodwill consists of the following:


	Amount
Beginning balance as of April 13, 2020 (Successor)	$	—
TPG Acquisition (Note 3)		926,658
Measurement period adjustment (Note 3)		2,977
Business acquisitions (Note 4)		169,024
Ending balance as of December 31, 2020 (Successor)	$	1,098,659
Business acquisitions (Note 4)		41,287
Measurement period adjustment		(1,212	)
Ending balance as of June 30, 2021 (Successor)	$	1,138,734

Related Party Transactions - Schedule of Related Party Management Fees (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Related Party Transactions [Abstract]
Management fees	$ 14	$ 1,356	$ 16	$ 14	$ 1,445

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Property and Equipment - Schedule of Depreciation Expense (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Depreciation expense	$ 657	$ 3,070	$ 763	$ 1,900	$ 5,679

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

There have been no changes in accounting policies during the three and six months ended June 30, 2021 (Successor) from those disclosed in the annual consolidated financial statements for the period from April 13, 2020 to December 31, 2020 (Successor), the period from January 1, 2020 to May 14, 2020 (Predecessor) and the year ended December 31, 2019 (Predecessor) and the related notes.

Basis of Presentation and Principles of Consolidation

The Company has prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting, which include the accounts of LifeStance Health Group, LifeStance TopCo, its wholly-owned subsidiaries and VIEs in which LifeStance TopCo has an interest and is the primary beneficiary. Pursuant to these rules and regulations, the Company has omitted certain information and footnote disclosures it normally includes in its annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation. In management’s opinion, the Company has made all adjustments (consisting only of normal, recurring adjustments, except as otherwise indicated) necessary to fairly state its consolidated financial position, results of income/(loss) and comprehensive income/(loss) and cash flows. The Company’s interim period operating results do not necessarily indicate the results that may be expected for any other interim period or the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto in the Company’s audited financial statements for the period from April 13, 2020 to December 31, 2020 (Successor), the period from January 1, 2020 to May 14, 2020 (Predecessor) and the year ended December 31, 2019 (Predecessor).

As a result of the acquisition as further discussed in Note 3, TPG Acquisition, periods prior to May 14, 2020 reflect financial statements of LifeStance Health, LLC. Periods subsequent to the acquisition and prior to the IPO and restructuring transactions reflect the financial statements of LifeStance TopCo. Periods subsequent to the IPO and restructuring transactions reflect the financial statements of LifeStance Health Group. All periods subsequent to the TPG Acquisition have been presented as the financial statements of LifeStance Health Group. Due to the change in the basis of accounting, the consolidated financial statements for the Predecessor and Successor periods are not necessarily comparable. Where applicable, a black line separates the Successor and Predecessor periods to highlight the lack of comparability.

Use of Accounting Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Variable Interest Entities

The Company evaluates its ownership, contractual and other interests in entities to determine if it has any variable interest in a VIE. These evaluations are complex and involve judgment and the use of estimates and assumptions based on available information. If the Company determines that an entity in which it holds a contractual or ownership interest is a VIE and that the Company is the primary beneficiary, the Company consolidates such entity in its consolidated

financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. The Company performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change.

The Company acquires and operates certain care centers which are deemed to be Friendly-Physician Entities (“FPEs"). As part of an FPE acquisition, the Company acquires 100% of the non-medical assets; however due to legal requirements the physician-owners must retain 100% of the equity interest. The Company’s agreements with FPEs generally consist of both a Management Service Agreement (“MSA”), which provides for various administrative and management services to be provided by the Company to the FPE, and Stock Transfer Restriction (“STR”) agreements with the physician-owners of the FPEs, which provide for the transition of ownership interests of the FPEs under certain conditions. The outstanding voting equity instruments of the FPEs are owned by the nominee shareholders appointed by the Company under the terms of the STR agreements. The Company has the right to receive income as an ongoing administrative fee, which effectively absorbs all of the residual interests and has also provided financial support through loans to the FPEs. The Company has exclusive responsibility for the provision of all non-medical services including facilities, technology and intellectual property required for the day-to-day operation and management of each of the FPEs, and makes recommendations to the FPEs in establishing the guidelines for the employment and compensation of the physicians and other employees of the FPEs. In addition, the STR agreements provide that the Company has the right to designate a person(s) to purchase the equity interest of the FPE for a nominal amount in the event of a succession event at the Company’s discretion. Based on the provisions of these agreements, the Company determined that the FPEs are VIEs due to the equity holder having insufficient capital at risk, and the Company has a variable interest in the FPEs.

The contractual arrangements described above allow the Company to direct the activities that most significantly affect the economic performance of the FPEs. Accordingly, the Company is the primary beneficiary of the FPEs and consolidates the FPEs under the VIE model. Furthermore, as a direct result of nominal initial equity contributions by the physicians, the financial support the Company provides to the FPEs (e.g., loans) and the provisions of the contractual arrangements and nominee shareholder succession arrangements described above, the interests held by noncontrolling interest holders lack economic substance and do not provide them with the ability to participate in the residual profits or losses generated by the FPEs. Therefore, all income and expenses recognized by the FPEs are allocated to the Company members. The Company does not hold interests in any VIEs for which the Company is not deemed to be the primary beneficiary.

As noted previously, the Company acquires 100% of the non-medical assets of the VIEs. The aggregate carrying values of the VIEs total assets and total liabilities not purchased by the Company but included on the consolidated balance sheets were not material at June 30, 2021 (Successor) and December 31, 2020 (Successor).

Emerging Growth Company Status

The Company is an emerging growth company, as defined in the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company's unaudited consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

New Accounting Pronouncements Not Yet Adopted

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) and also issued subsequent amendments to the initial guidance: ASU 2017-13, ASU 2018-10, ASU 2018-11, ASU 2018-20, ASU 2019-01, ASU 2020-02, and ASU 2020-05 (collectively, “ASC 842”). ASC 842 outlines a comprehensive lease accounting model and supersedes the

current lease guidance. The new guidance requires lessees to recognize lease liabilities and corresponding right-of-use assets for all leases with lease terms of greater than 12 months. It also changes the definition of a lease and expands the disclosure requirements of lease arrangements. ASC 842 is effective for private entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, inclusive of a one year deferral provided by ASU 2020-05. ASC 842 must be adopted using a modified retrospective method and early adoption is permitted. The Company is in the process of determining the impact of the adoption of ASC 842 on the Company’s consolidated financial statements and disclosures. However, given the Company’s current operating lease portfolio (see Note 16) the Company expects the recognition of the right-of-use assets and lease liabilities to have a material impact on the Company’s consolidated balance sheets.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments (Topic 326)-Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. ASU 2016-13 is effective for private entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASU 2016-03 will apply as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company is in the process of evaluating the impact of the adoption of ASU 2016-13 on the Company’s consolidated financial statements and disclosures.

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2019-12 is effective for private entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted, including adoption in any interim period for public business entities for periods for which financial statements have not yet been issued and all other entities for periods for which financial statements have not yet been made available for issuance. The Company is in the process of evaluating the impact of the adoption of ASU 2019-12 on the Company’s consolidated financial statements and disclosures.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). This guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions, subject to meeting certain criteria, that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The amendments issued in March 2020 provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in ASU 2020-04 are effective for all entities as of March 12, 2020, through December 31, 2022. The Company is still evaluating the impact of adopting ASU 2020-04 on its consolidated financial statements and disclosures.

Redeemable Convertible Preferred Units - Additional Information (Details)	Jun. 30, 2021
T P G Acquisition
Business acquisition, equity percentage interests acquired	100.00%

Acquisitions - Schedule of Fair Value Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Business Combinations [Abstract]
Cash	$ 212	$ 2,008	$ 1,248	$ 238	$ 2,048
Patient accounts receivable	293	3,515	3,382	1,344	3,799
Property and equipment	79	676	590	234	694
Prepaid expenses and other current assets	9	221	77	68	227
Deposits	19	86	192	87	91
Intangible assets	308	2,936	3,144	2,080	3,061
Goodwill	4,324	40,170	24,659	14,099	41,287
Total assets acquired	5,244	49,612	33,292	18,150	51,207
Current liabilities	264	5,258	1,976	1,493	5,345
Total liabilities assumed	264	5,258	1,976	1,493	5,345
Fair value of net assets	$ 4,980	$ 44,354	$ 31,316	$ 16,657	$ 45,862

GOODWILL

6 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

GOODWILL

NOTE 8 GOODWILL

Goodwill consists of the following:


	Amount
Beginning balance as of April 13, 2020 (Successor)	$	—
TPG Acquisition (Note 3)		926,658
Measurement period adjustment (Note 3)		2,977
Business acquisitions (Note 4)		169,024
Ending balance as of December 31, 2020 (Successor)	$	1,098,659
Business acquisitions (Note 4)		41,287
Measurement period adjustment		(1,212	)
Ending balance as of June 30, 2021 (Successor)	$	1,138,734

Goodwill represents the excess of the purchase price over the net identifiable assets acquired and liabilities assumed. Goodwill is primarily attributable to the assembled workforce, customer and payor relationships and anticipated synergies and economies of scale expected from the integration of the businesses. The synergies include certain cost savings, operating efficiencies, and other strategic benefits projected to be achieved as a result of the acquisition. All goodwill is deductible for tax purposes except for goodwill in connection with the TPG Acquisition.

TPG Acquisition - Summary of Fair value of Acquired Intangible Assets (Details) - T P G Acquisition $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($)
Business Acquisition [Line Items]
Intangible assets	$ 344,300
Trade Name Corporate
Business Acquisition [Line Items]
Intangible assets	$ 235,500
Intangible assets useful life	22 years 6 months
Trade Name Regional
Business Acquisition [Line Items]
Intangible assets	$ 22,900
Intangible assets useful life	5 years
Non Competition Agreements Executives
Business Acquisition [Line Items]
Intangible assets	$ 77,500
Intangible assets useful life	4 years
Non Competition Agreements Providers
Business Acquisition [Line Items]
Intangible assets	$ 8,400
Intangible assets useful life	5 years

Stockholders' Equity Members' Deficit - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 14, 2021	Jun. 09, 2021	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2020	May 14, 2020	Apr. 13, 2020
Subsidiary Sale Of Stock [Line Items]
Issuance of common , Shares				1,687,000	1,044,509,000
Common Stock, Shares Authorized			800,000,000	800,000,000	0	0
Common Stock, par value			$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common Unit, Outstanding			374,149,000	374,149,000	1,044,509,000	1,044,509,000		0
Fair Value Of Mezzanine Equity		$ 36,750				$ 0
Conversion of Stock				723,267,000
Preferred Stock, Shares Authorized			25,000,000	25,000,000	0	0
Preferred Stock, par value			$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred Stock, Shares Outstanding			0	0	0	0
Class A-1 Common Units [Member]
Subsidiary Sale Of Stock [Line Items]
Issuance of common , Shares				0	959,563,000
Common Unit, Outstanding			0	0	959,563,000	959,563,000	345,978,000	0
Conversion of Stock				(959,563,000)
Class A-2 Common Units [Member]
Subsidiary Sale Of Stock [Line Items]
Issuance of common , Shares				1,687,000	49,946,000
Common Unit, Outstanding			0	0	49,946,000	49,946,000	35,845,000	0
Conversion of Stock				(51,633,000)
Redeemable Class A Unit
Subsidiary Sale Of Stock [Line Items]
Issuance of common , Shares				0	35,000,000
Common Unit, Outstanding			0	0	35,000,000	35,000,000		0
Conversion of Stock				(35,000,000)
Redeemable Class A Unit \| Chief Executive Officer
Subsidiary Sale Of Stock [Line Items]
Shares, Issued							35,000,000
Common Stock [Member]
Subsidiary Sale Of Stock [Line Items]
Common Unit, Outstanding			374,149,000	374,149,000				0
Conversion of Stock		10,234,000		340,849,000
IPO
Subsidiary Sale Of Stock [Line Items]
Shares Issued Price Per Share			$ 18.00	$ 18.00
Preferred Stock, Shares Authorized							25,000,000
Preferred Stock, par value							$ 0.01
Preferred Stock, Shares Outstanding							0
IPO \| LifeStance [Member]
Subsidiary Sale Of Stock [Line Items]
Issuance of common , Shares	32,800,000
IPO \| Common Stock [Member]
Subsidiary Sale Of Stock [Line Items]
Issuance of common , Shares			32,800,000	32,800,000
IPO \| Maximum
Subsidiary Sale Of Stock [Line Items]
Common Stock, Shares Authorized			800,000,000	800,000,000
IPO \| Minimum
Subsidiary Sale Of Stock [Line Items]
Common Stock, Shares Authorized			1,000	1,000

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Statutory tax rate	21.00%
Effective tax rate due to its valuation allowance	$ 0	$ 0

Stock And Unit-Based Compensation

6 Months Ended

Jun. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

STOCK AND UNIT-BASED COMPENSATION

NOTE 13 STOCK AND UNIT-BASED COMPENSATION

Post-IPO Equity Awards

2021 Equity Incentive Plan

Effective June 9, 2021, the Company’s Board of Directors (the "Board") and its stockholders as of that date adopted and approved the LifeStance Health Group, Inc. 2021 Equity Incentive Plan (the “2021 Equity Incentive Plan”). All equity-based awards subsequent to June 9, 2021 will be granted under the 2021 Plan. The 2021 Equity Incentive Plan permits the grant of awards or restricted or unrestricted common stock, stock options, stock appreciation rights, restricted stock units, performance awards, and other stock-based awards to employees and directors of, and consultants and advisors to, the Company and its affiliates.

The maximum number of shares of the Company’s common stock that may be delivered in satisfaction of awards under the 2021 Equity Incentive Plan is 47,037 shares. The share pool will automatically increase on January 1 of each year beginning in 2022 and continuing through and including 2031 by the lesser of (i) five percent of the number of shares of the Company’s common stock outstanding as of the close of business on the immediately preceding December 31 and (ii) the number of shares determined by the Board on or prior to such date for such year.

Restricted Stock

The restricted stock was issued as part of the Organizational Transactions (see Note 1).

The following is a summary of restricted stock transactions as of and for the three and six months ended June 30, 2021 (Successor):


	Unvested Shares		Grant Date Fair Value
Outstanding, June 9, 2021 (Successor)		—	$	—
Converted		30,766		11.98
Granted		—		—
Outstanding, June 30, 2021 (Successor)		30,766	$	11.98

Restricted Stock Units

The restricted stock units (“RSUs”) were granted in connection with the IPO. RSUs are accounted for as equity using the fair value method, which requires measurement and recognition of compensation expense for all awards granted to employees, directors and consultants based upon the grant-date fair value.

The following is a summary of RSU transactions as of and for the three and six months ended June 30, 2021 (Successor):


	Unvested Shares		Grant Date Fair Value
Outstanding, June 9, 2021 (Successor)		—	$	—
Converted		—		—
Granted		6,128		18.00
Outstanding, June 30, 2021 (Successor)		6,128	$	18.00

2021 Employee Stock Purchase Plan

Effective June 9, 2021, the Board and its stockholders as of that date adopted and approved the LifeStance Health Group, Inc. 2021 Employee Stock Purchase Plan (the “ESPP”). The ESPP permits the grant to eligible employees of the Company and its participating subsidiaries of options to purchase shares of the Company’s common stock.

The aggregate number of shares of the Company common stock available for purchase pursuant to the exercise of options under the ESPP is 6,817 shares, plus an automatic annual increase, as of January 1 of each year beginning in 2022 and continuing through and including 2031, equal to the lesser of (i) one percent of the number of shares of the Company’s common stock outstanding as of the close of business on the immediately preceding December 31 and (ii) the number of shares determined by the Board on or prior to such date for such year, up to a maximum of 42,500 shares of the Company’s common stock in the aggregate. The ESPP allows participants to purchase common stock through payroll deductions of up to 15% of their eligible compensation. The purchase price of the shares will be 85% of the lower of the fair market value of the Company’s common stock on the grant date or the exercise date.

The ESPP will generally be implemented by a series of separate offerings referred to as “Option Periods”. Unless otherwise determined by the administrator, the Option Periods will be successive periods of approximately six months commencing on the first business day in January and July of each year, anticipated to be on or around January 1 and July 1, and ending approximately six months later on the last business day in June or December, as applicable, of each year, anticipated to be on or around June 30 and December 31. The last business day of each Option Period will be an “Exercise Date”. The administrator may change the Exercise Date, the commencement date, the ending date and the duration of each Option Period, in each case, to the extent permitted by Section 423 of the Internal Revenue Code; provided, however, that no option may be exercised after 27 months from its grant date.

As of June 30, 2021 (Successor), no shares of common stock have been purchased under the Company’s ESPP.

Pre-IPO Equity Awards

Class C Units and Class A Units (Predecessor)

For the period from April 1, 2020 to May 14, 2020 (Predecessor) and prior (Predecessor), the Board of Directors of LifeStance Health, LLC issued Class C Units and Class A Units options, which represented options to purchase membership units in LifeStance Health, LLC. All Class C Units and Class A Units options were fully vested and exercised as of May 14, 2020, and all holders were granted LifeStance TopCo Class A-1 Units upon the TPG Acquisition occurring. No options to purchase Class C Units or Class A Units were outstanding at May 14, 2020.

On the grant date, recipients of the Class C Units and Class A Units purchased for cash the units at their fair market value. The Company recorded total unit-based compensation expense of $0 and $0 for the period from April 1, 2020

to May 14, 2020 (Predecessor) and the period from January 1, 2020 to May 14, 2020 (Predecessor), respectively, related to both Class C Units and Class A Units.

Class B Profits Interests Units (Successor)

On May 14, 2020, the Board of Directors of LifeStance TopCo adopted a form of Partnership Interest Award Agreement (“Award Agreement”). From May 14, 2020 through June 9, 2021 (Successor), the Company granted awards in the form of Profits Interests Units to employees, officers and directors on terms set forth in the Award Agreement.

These Profits Interests represented profits interest ownership in the Company tied solely to the accretion, if any, in the value of the Company following the date of issuance of such Profits Interests. Profits Interests participated in any increase of the Company value related to their profits interests after the hurdle value had been achieved.

A maximum of 179,190 Class B Profits Interests Units were available to be granted under the Award Agreement. Awards were granted on a discretionary basis and were subject to the approval of the Board of Directors of LifeStance TopCo. The Company granted 152,865 Class B Profits Interests Units awards from May 14, 2020 through June 9, 2021 (Successor).

Holders of the Profits Interests Units received distributions (other than tax distributions) only upon a liquidity event, as defined, that exceeded a threshold equivalent to the fair value of the Company, as determined by the Company’s Board, at the grant date. All awards included a repurchase option at the election of the Company for the vested portion upon termination of employment or service and any unvested awards would be forfeited.

Profits Interests Units are accounted for as equity using the fair value method, which requires the measurement and recognition of compensation expense for all profit interest-based payment awards made to the holders based upon the grant-date fair value. The Company has concluded that both the Service-Vesting Units and the Performance-Vesting Units are subject to a market condition and has assessed the market condition as part of its determination of the grant date fair value.

Accordingly, the Company determined the fair value of each award on the date of grant using a Monte Carlo simulation model with the following assumptions used for the grants issued for the three and six months ended June 30, 2021 (Successor) and the period from April 13, 2020 to June 30, 2020 (Successor):


	Successor
	Three months ended June 30, 2021			Six months ended June 30, 2021			April 13 to June 30, 2020
Risk-free rate		0.14	%		0.14	%		0.20	%
Volatility		80.00	%		80.00	%		40.00	%
Time to liquidity event (years)		2.00			2.00			3.00
Discount for lack of marketability (DLOM)		—			—			20.00	%

The volatility assumption used in the Monte Carlo simulation model is based on the expected volatility of public companies in similar industries, adjusted to reflect the differences between the Company and other public companies in size, resources, time in industry, and breadth of service offerings.

In connection with the IPO, the outstanding Profits Interests were contributed to LifeStance Health Group in exchange for common stock, including restricted stock. The following is a summary of Class B Profits Interests Units for the three and six months ended June 30, 2021 (Successor) and for period from April 13, 2020 to June 30, 2020 (Successor):


	Class B Profits Interests			Weighted- Average Grant Date Fair Value
Outstanding, March 31, 2021		152,865		$	0.13
Granted		—			—
Forfeited		(245	)		0.13
Converted		(152,620	)		0.13
Outstanding, June 30, 2021 (Successor)		—		$	—
Vested		17,920			0.13


	Class B Profits Interests			Weighted- Average Grant Date Fair Value
Outstanding, December 31, 2020		143,343		$	0.13
Granted		9,522			0.16
Forfeited		(245	)		0.13
Converted		(152,620	)		0.13
Outstanding, June 30, 2021 (Successor)		—		$	—
Vested		17,920			0.13


	Class B Profits Interests		Weighted- Average Grant Date Fair Value
Outstanding, April 13, 2020		—	$	—
Granted		134,855		0.13
Vested		—		—
Outstanding, June 30, 2020 (Successor)		134,855	$	0.13

There were no Class B Profits Interests Units outstanding as of June 30, 2021 (Successor).

Stock and Unit-Based Compensation Expense

The Company recognized unit-based compensation expense related to the Class B Profits Interests within general and administrative expenses in the unaudited consolidated statements of income/(loss) and comprehensive income/(loss) as follows:


	Successor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020
Unit-based compensation expense	$	530	$	1,135	$	292

As part of the Organizational Transactions, the Class B Profits Interests Units that were subject to vesting over a period of continuous employment or service and were unvested upon the Organizational Transactions were converted to restricted stock that vests over a modified requisite service period of three years. The unvested Class B Profits Interests Units that were subject to vesting upon the sale of the Company were converted to restricted stock that were modified to add both a market and service condition and vest between six months and two years following the IPO.

These awards, which were subject to vesting upon the sale of the Company, were deemed improbable until June 10, 2021 when the IPO occurred. As a result of this vesting condition being deemed probable on the date of the IPO, the equity holders of these awards received 30,766 shares of common stock issued as restricted stock that are subject to market and service-based vesting conditions.

The stock compensation expense recorded for these modifications to convert the Class B Profits Interests Units to restricted stock, acceleration of vesting terms, and the additional RSUs granted at the time of IPO was $28,985 for the three and six months ended June 30, 2021 (Successor). This amount was recognized within general and administrative expenses in the unaudited consolidated statements of income/(loss) and comprehensive income/(loss). As of June 30, 2021 (Successor), the Company had $450,908 in unrecognized compensation expense related to all non-vested awards (restricted stock and RSUs) that will be recognized over the weighted-average remaining service period of 2.9 years.

Stock And Unit-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Summary of Restricted Stock Awards (RSA) Activity

The following is a summary of restricted stock transactions as of and for the three and six months ended June 30, 2021 (Successor):


	Unvested Shares		Grant Date Fair Value
Outstanding, June 9, 2021 (Successor)		—	$	—
Converted		30,766		11.98
Granted		—		—
Outstanding, June 30, 2021 (Successor)		30,766	$	11.98

Summary of Restricted Stock Unit (RSU) Activity

The following is a summary of RSU transactions as of and for the three and six months ended June 30, 2021 (Successor):


	Unvested Shares		Grant Date Fair Value
Outstanding, June 9, 2021 (Successor)		—	$	—
Converted		—		—
Granted		6,128		18.00
Outstanding, June 30, 2021 (Successor)		6,128	$	18.00

Summary of Stock and Unit Based Compensation Award Valuation Assumptions


	Successor
	Three months ended June 30, 2021			Six months ended June 30, 2021			April 13 to June 30, 2020
Risk-free rate		0.14	%		0.14	%		0.20	%
Volatility		80.00	%		80.00	%		40.00	%
Time to liquidity event (years)		2.00			2.00			3.00
Discount for lack of marketability (DLOM)		—			—			20.00	%

Summary of Class B Profits Interests Units

The following is a summary of Class B Profits Interests Units for the three and six months ended June 30, 2021 (Successor) and for period from April 13, 2020 to June 30, 2020 (Successor):


	Class B Profits Interests			Weighted- Average Grant Date Fair Value
Outstanding, March 31, 2021		152,865		$	0.13
Granted		—			—
Forfeited		(245	)		0.13
Converted		(152,620	)		0.13
Outstanding, June 30, 2021 (Successor)		—		$	—
Vested		17,920			0.13


	Class B Profits Interests			Weighted- Average Grant Date Fair Value
Outstanding, December 31, 2020		143,343		$	0.13
Granted		9,522			0.16
Forfeited		(245	)		0.13
Converted		(152,620	)		0.13
Outstanding, June 30, 2021 (Successor)		—		$	—
Vested		17,920			0.13


	Class B Profits Interests		Weighted- Average Grant Date Fair Value
Outstanding, April 13, 2020		—	$	—
Granted		134,855		0.13
Vested		—		—
Outstanding, June 30, 2020 (Successor)		134,855	$	0.13

Summary of Class B Profits Interests Units Corresponding Hurdle Values

June 30, 2021 (Successor).

Summary of Unit Based Compensation Expense


	Successor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020
Unit-based compensation expense	$	530	$	1,135	$	292

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Company has prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting, which include the accounts of LifeStance Health Group, LifeStance TopCo, its wholly-owned subsidiaries and VIEs in which LifeStance TopCo has an interest and is the primary beneficiary. Pursuant to these rules and regulations, the Company has omitted certain information and footnote disclosures it normally includes in its annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation. In management’s opinion, the Company has made all adjustments (consisting only of normal, recurring adjustments, except as otherwise indicated) necessary to fairly state its consolidated financial position, results of income/(loss) and comprehensive income/(loss) and cash flows. The Company’s interim period operating results do not necessarily indicate the results that may be expected for any other interim period or the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto in the Company’s audited financial statements for the period from April 13, 2020 to December 31, 2020 (Successor), the period from January 1, 2020 to May 14, 2020 (Predecessor) and the year ended December 31, 2019 (Predecessor). As a result of the acquisition as further discussed in Note 3, TPG Acquisition, periods prior to May 14, 2020 reflect financial statements of LifeStance Health, LLC. Periods subsequent to the acquisition and prior to the IPO and restructuring transactions reflect the financial statements of LifeStance TopCo. Periods subsequent to the IPO and restructuring transactions reflect the financial statements of LifeStance Health Group. All periods subsequent to the TPG Acquisition have been presented as the financial statements of LifeStance Health Group. Due to the change in the basis of accounting, the consolidated financial statements for the Predecessor and Successor periods are not necessarily comparable. Where applicable, a black line separates the Successor and Predecessor periods to highlight the lack of comparability.
Use of Accounting Estimates	Use of Accounting Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Variable Interest Entities	Variable Interest Entities The Company evaluates its ownership, contractual and other interests in entities to determine if it has any variable interest in a VIE. These evaluations are complex and involve judgment and the use of estimates and assumptions based on available information. If the Company determines that an entity in which it holds a contractual or ownership interest is a VIE and that the Company is the primary beneficiary, the Company consolidates such entity in its consolidated financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. The Company performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. The Company acquires and operates certain care centers which are deemed to be Friendly-Physician Entities (“FPEs"). As part of an FPE acquisition, the Company acquires 100% of the non-medical assets; however due to legal requirements the physician-owners must retain 100% of the equity interest. The Company’s agreements with FPEs generally consist of both a Management Service Agreement (“MSA”), which provides for various administrative and management services to be provided by the Company to the FPE, and Stock Transfer Restriction (“STR”) agreements with the physician-owners of the FPEs, which provide for the transition of ownership interests of the FPEs under certain conditions. The outstanding voting equity instruments of the FPEs are owned by the nominee shareholders appointed by the Company under the terms of the STR agreements. The Company has the right to receive income as an ongoing administrative fee, which effectively absorbs all of the residual interests and has also provided financial support through loans to the FPEs. The Company has exclusive responsibility for the provision of all non-medical services including facilities, technology and intellectual property required for the day-to-day operation and management of each of the FPEs, and makes recommendations to the FPEs in establishing the guidelines for the employment and compensation of the physicians and other employees of the FPEs. In addition, the STR agreements provide that the Company has the right to designate a person(s) to purchase the equity interest of the FPE for a nominal amount in the event of a succession event at the Company’s discretion. Based on the provisions of these agreements, the Company determined that the FPEs are VIEs due to the equity holder having insufficient capital at risk, and the Company has a variable interest in the FPEs. The contractual arrangements described above allow the Company to direct the activities that most significantly affect the economic performance of the FPEs. Accordingly, the Company is the primary beneficiary of the FPEs and consolidates the FPEs under the VIE model. Furthermore, as a direct result of nominal initial equity contributions by the physicians, the financial support the Company provides to the FPEs (e.g., loans) and the provisions of the contractual arrangements and nominee shareholder succession arrangements described above, the interests held by noncontrolling interest holders lack economic substance and do not provide them with the ability to participate in the residual profits or losses generated by the FPEs. Therefore, all income and expenses recognized by the FPEs are allocated to the Company members. The Company does not hold interests in any VIEs for which the Company is not deemed to be the primary beneficiary. As noted previously, the Company acquires 100% of the non-medical assets of the VIEs. The aggregate carrying values of the VIEs total assets and total liabilities not purchased by the Company but included on the consolidated balance sheets were not material at June 30, 2021 (Successor) and December 31, 2020 (Successor).
Emerging Growth Company Status	Emerging Growth Company Status The Company is an emerging growth company, as defined in the JOBS Act. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company's unaudited consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.
Recent Accounting Pronouncements Not Yet Adopted	New Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) and also issued subsequent amendments to the initial guidance: ASU 2017-13, ASU 2018-10, ASU 2018-11, ASU 2018-20, ASU 2019-01, ASU 2020-02, and ASU 2020-05 (collectively, “ASC 842”). ASC 842 outlines a comprehensive lease accounting model and supersedes the current lease guidance. The new guidance requires lessees to recognize lease liabilities and corresponding right-of-use assets for all leases with lease terms of greater than 12 months. It also changes the definition of a lease and expands the disclosure requirements of lease arrangements. ASC 842 is effective for private entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, inclusive of a one year deferral provided by ASU 2020-05. ASC 842 must be adopted using a modified retrospective method and early adoption is permitted. The Company is in the process of determining the impact of the adoption of ASC 842 on the Company’s consolidated financial statements and disclosures. However, given the Company’s current operating lease portfolio (see Note 16) the Company expects the recognition of the right-of-use assets and lease liabilities to have a material impact on the Company’s consolidated balance sheets. In June 2016, the FASB issued ASU 2016-13, Financial Instruments (Topic 326)-Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. ASU 2016-13 is effective for private entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASU 2016-03 will apply as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company is in the process of evaluating the impact of the adoption of ASU 2016-13 on the Company’s consolidated financial statements and disclosures. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2019-12 is effective for private entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted, including adoption in any interim period for public business entities for periods for which financial statements have not yet been issued and all other entities for periods for which financial statements have not yet been made available for issuance. The Company is in the process of evaluating the impact of the adoption of ASU 2019-12 on the Company’s consolidated financial statements and disclosures. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). This guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions, subject to meeting certain criteria, that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The amendments issued in March 2020 provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in ASU 2020-04 are effective for all entities as of March 12, 2020, through December 31, 2022. The Company is still evaluating the impact of adopting ASU 2020-04 on its consolidated financial statements and disclosures.

TOTAL REVENUES (Tables)

6 Months Ended

Jun. 30, 2021

Disaggregation Of Revenue [Abstract]

Schedule of revenue from patients and third - party payors

The payor mix of fee-for-service revenue from patients and third-party payors consists of the following:


	Successor
	Three months ended June 30, 2021					Six months ended June 30, 2021					April 13 to June 30, 2020
	Amount		% of Total Revenue			Amount		% of Total Revenue			Amount		% of Total Revenue
Commercial	$	147,391		92	%	$	275,649		91	%	$	39,173		86	%
Government		6,488		4	%		12,211		4	%		2,686		6	%
Self-pay		5,518		3	%		13,282		4	%		2,287		5	%
Total patient service revenue		159,397		99	%		301,142		99	%		44,146		97	%
Nonpatient service revenue		1,152		1	%		2,539		1	%		1,307		3	%
Total	$	160,549		100	%	$	303,681		100	%	$	45,453		100	%


	Predecessor
	April 1 to May 14, 2020					January 1 to May 14, 2020
	Amount		% of Total Revenue			Amount		% of Total Revenue
Commercial	$	35,044		91	%	$	98,146		88	%
Government		1,431		4	%		5,411		5	%
Self-pay		1,276		3	%		4,821		4	%
Total patient service revenue		37,751		98	%		108,378		97	%
Nonpatient service revenue		804		2	%		3,283		3	%
Total	$	38,555		100	%	$	111,661		100	%

Schedule of percentage of revenue from insurance companies


	Successor									Predecessor
	Three months ended June 30, 2021			Six months ended June 30, 2021			April 13 to June 30, 2020			April 1 to May 14, 2020			January 1 to May 14, 2020
Top five commercial payors		62	%		63	%		65	%		70	%		67	%
Top one payor		18	%		19	%		21	%		24	%		23	%
Top two payor		16	%		17	%		21	%		17	%		19	%
Top three payor		13	%		13	%		11	%		12	%		11	%

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets consists of the following:


June 30, 2021 (Successor)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life (Years)
Regional trade names	$	32,393	$	(6,286	)	$	26,107		5.0
LifeStance trade names		235,500		(11,857	)		223,643		22.5
Non-competition agreements		91,234		(24,450	)		66,784		4.2
Total intangible assets	$	359,127	$	(42,593	)	$	316,534


December 31, 2020 (Successor)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life (Years)
Regional trade names	$	30,477	$	(3,178	)	$	27,299		5.0
LifeStance trade names		235,500		(6,624	)		228,876		22.5
Non-competition agreements		90,089		(13,468	)		76,621		4.1
Total intangible assets	$	356,066	$	(23,270	)	$	332,796

Summary of Intangible Assets Amortization Expense

Gross carrying amount is based on the fair value of the intangible assets determined at acquisitions. Total intangible asset amortization expense consists of the following:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Amortization expense	$	9,704	$	19,323	$	4,669	$	503	$	1,435

Stockholders' Equity Members' Deficit

6 Months Ended

Jun. 30, 2021

Stockholders Equity Note [Abstract]

Stockholders and Member Equity

NOTE 14 STOCKHOLDERS’/MEMBERS’ EQUITY

Common Stock – Post-IPO

As discussed in Note 1, upon completion of the Company’s IPO in June 2021, the Company sold 32,800 shares of common stock at an offering price of $18.00 per share.

In connection with the IPO, the Company increased its authorized shares from 1 to 800,000 shares of common stock, par value $0.01 per share.

The Company’s common stock/units consisted of the following common units and common stock as of the periods ended June 30, 2021 (Successor) and December 31, 2020 (Successor):


	Redeemable Class A Units			Class A-1 Units			Class A-2 Units			Class B Units			Common Stock		Total
Balance as of April 13, 2020 (Successor)		—			—			—			—			—		—
Issued		35,000			959,563			49,946			—			—		1,044,509
Balance as of December 31, 2020		35,000			959,563			49,946			—			—		1,044,509
Issued		—			—			1,687			—			—		1,687
Vested Class B Profits Interests		—			—			—			17,920			—		17,920
Conversion of pre-IPO units to common stock		(35,000	)		(959,563	)		(51,633	)		(17,920	)		340,849		(723,267	)
Initial Public Offering		—			—			—			—			32,800		32,800
Endowment to the LifeStance Health Foundation		—			—			—			—			500		500
Balance as of June 30, 2021 (Successor)		—			—			—			—			374,149		374,149

Common Units - Pre-IPO

Upon the closing of the TPG Acquisition, the Company initiated two share exchanges for all outstanding shares, including Class A and Class C Units, as well as Series A and Series A-1 Preferred Units. Subsequent to the share exchanges, holders of the units received cash consideration for a portion of their units, and the remaining units were exchanged for Class A-1 and Class A-2 units of LifeStance TopCo based on a predetermined exchange ratio. There were approximately 345,978 and 35,845 Class A-1 and Class A-2 units outstanding, respectively, as a result of the exchange of equity on May 14, 2020. No Class A Units or Class C Units were outstanding after the TPG Acquisition as a result of the conversion.

The chief executive officer (“CEO”) had 35,000 redeemable Class A units outstanding prior to the completion of the IPO. The CEO had the right, upon termination for any reason other than proper cause, to put his redeemable Class A units back to the partnership at fair value (“Put Right”). The CEO (or permitted transferee) shall have this Put Right also upon death or disability. As this was both outside of the Company’s control and probable to eventually occur, the redeemable Class A units subject to this Put Right were classified as mezzanine equity and carried at fair value (i.e., redemption price). There was a change to the fair value during the period from April 1 to June 9, 2021 (Successor) and the period from January 1 to June 9, 2021 (Successor) of $0 and $36,750, respectively, resulting from a change in the probability assumption of an IPO. On June 9, 2021, the redeemable Class A units were converted into 10,234 shares of the Company’s common stock.

Class A-1 Common Units had equal voting rights. Class A-2 and Class B Common Units were nonvoting units.

See Note 13 for discussion regarding Class B Units outstanding pre-IPO.

Preferred Stock

In connection with the Company’s IPO, the Company authorized the issuance of 25,000 shares of its preferred stock, par value $0.01 per share. There are no shares of preferred stock outstanding as of June 30, 2021 (Successor).

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) AND COMPREHENSIVE INCOME/(LOSS) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
TOTAL REVENUES	$ 38,555	$ 160,549	$ 45,453	$ 111,661	$ 303,681
OPERATING EXPENSES
Center costs, excluding depreciation and amortization shown separately below	27,143	109,341	31,275	78,777	208,475
General and administrative expenses	7,192	85,479	8,642	20,854	118,130
Depreciation and amortization	1,160	12,774	5,432	3,335	25,002
Total operating expenses	35,495	207,594	45,349	102,966	351,607
INCOME FROM OPERATIONS	3,060	(47,045)	104	8,695	(47,926)
OTHER INCOME (EXPENSE)
(Loss) gain on remeasurement of contingent consideration	(32)	(250)	(51)	322	(557)
Transaction costs	32,294	1,996	181	33,247	3,530
Interest expense	(1,340)	(23,174)	(5,562)	(3,020)	(31,806)
Other expense	(14)	(1,356)	(22)	(14)	(1,445)
Total other expense	(33,680)	(26,776)	(5,816)	(35,959)	(37,338)
LOSS BEFORE INCOME TAXES	(30,620)	(73,821)	(5,712)	(27,264)	(85,264)
INCOME TAX BENEFIT	3,022	3,788	1,370	2,319	6,549
NET LOSS AND COMPREHENSIVE LOSS	(27,598)	(70,033)	(4,342)	(24,945)	(78,715)
Accretion of Redeemable Class A units					(36,750)
Cumulative dividend on Series A redeemable convertible preferred units (Note 12)	(217)	0	0	(662)	0
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS/MEMBERS	(300,397)	$ (70,033)	$ (4,342)	(298,189)	$ (115,465)
NET LOSS PER SHARE, BASIC AND DILUTED		$ 0.22	$ 0.01		$ 0.37
Weighted-average shares used to compute basic and diluted net loss per share		313,536	297,237		309,559
Series A Preferred Stock
OTHER INCOME (EXPENSE)
Accretion of Redeemable Class A units	0	$ 0	$ 0	0	$ (36,750)
Series A1 Preferred Stock
OTHER INCOME (EXPENSE)
Accretion of Redeemable Class A units	$ (272,582)	$ 0	$ 0	$ (272,582)	$ 0

Stockholders' Equity Members' Deficit - Summary of Common Stock (Details) - shares shares in Thousands		3 Months Ended	6 Months Ended	9 Months Ended
	Jun. 09, 2021	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Subsidiary Sale Of Stock [Line Items]
Begining Balance			1,044,509	0
Issued			1,687	1,044,509
Common Stock, Shares, Issued		374,149	374,149	0
Common Stock Shares Issued		374,149	374,149	0
Vested Class B Profits Interest		17,920
Conversion to common stock			(723,267)
Initial Public Offering			32,800
Endowment to the LifeStance Health Foundation			500
Ending Balance		374,149	374,149	1,044,509
Redeemable Class A Unit
Subsidiary Sale Of Stock [Line Items]
Begining Balance			35,000	0
Issued			0	35,000
Vested Class B Profits Interest		0
Conversion to common stock			35,000
Initial Public Offering			0
Endowment to the LifeStance Health Foundation			0
Ending Balance		0	0	35,000
Class A-1 Common Units [Member]
Subsidiary Sale Of Stock [Line Items]
Begining Balance			959,563	0
Issued			0	959,563
Vested Class B Profits Interest		0
Conversion to common stock			959,563
Initial Public Offering			0
Endowment to the LifeStance Health Foundation			0
Ending Balance		0	0	959,563
Class A-2 Common Units [Member]
Subsidiary Sale Of Stock [Line Items]
Begining Balance			49,946	0
Issued			1,687	49,946
Vested Class B Profits Interest		0
Conversion to common stock			51,633
Initial Public Offering			0
Endowment to the LifeStance Health Foundation			0
Ending Balance		0	0	49,946
Class B Units [Member]
Subsidiary Sale Of Stock [Line Items]
Begining Balance			0	0
Issued			0	0
Vested Class B Profits Interest		17,920
Conversion to common stock			17,920
Initial Public Offering			0
Endowment to the LifeStance Health Foundation			0
Ending Balance		0	0	0
Common Stock [Member]
Subsidiary Sale Of Stock [Line Items]
Begining Balance				0
Conversion to common stock	(10,234)		(340,849)
Initial Public Offering			32,800
Endowment to the LifeStance Health Foundation			500
Ending Balance		374,149	374,149

TPG Acquisition - Summary of Business Consideration Trnsferred (Detaills) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	May 14, 2020	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021
Business Acquisition [Line Items]
Cash consideration					$ 670,941
Class of units					381,823
Total consideration transferred	$ 4,980	$ 44,354	$ 31,316	$ 16,657	45,862
T P G Acquisition
Business Acquisition [Line Items]
Cash consideration					670,941
Total consideration transferred					1,052,764
T P G Acquisition \| Class A-1 Units
Business Acquisition [Line Items]
Class of units					345,978
T P G Acquisition \| Class A-2 Common Units [Member]
Business Acquisition [Line Items]
Class of units					$ 35,845

Nature of the Business - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands			3 Months Ended		4 Months Ended	6 Months Ended	9 Months Ended
	Jun. 25, 2021	Jun. 14, 2021	Jun. 30, 2021	Jun. 30, 2020	May 14, 2020	Jun. 30, 2021	Dec. 31, 2020
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Organisation incorporated date						Jan. 28, 2021
Issuance of common , Shares						1,687	1,044,509
Proceeds from initial public offering				$ 0	$ 0	$ 554,169
Reclassification of redeemable investor units						71,648
Reclassification of common units to additional paid in capital			$ 1,008,688			1,008,688
Reclassification of Common Stock						$ 3,408
Life Stance Health Foundation [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Issuance of common , Shares						500
Cash payment for restructuring						$ 1,000
Aggregate cost						$ 10,000
LifeStance TopCo
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of units converted						1,046,196
LifeStance [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Proceeds from initial public offering		$ 548,905
Payments for underwriting expense		32,472
Deferred offering costs		$ 9,023
Conversion of common units into common stock upon closing of initial public offering, Shares						310,083
Common Stock Subject To Service-Based Vesting [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Conversion of common units into common stock upon closing of initial public offering, Shares						30,766
Common Stock [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Conversion of common units into common stock upon closing of initial public offering, Shares			295,663			295,663
Selling Shareholders [Member] \| Common Stock [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Issuance of common , Shares		7,200
Shares offering, price per share		$ 18.00
IPO
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Shares offering, price per share			$ 18.00			$ 18.00
IPO \| LifeStance [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Issuance of common , Shares		32,800
IPO \| Common Stock [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Issuance of common , Shares			32,800			32,800
Over-Allotment Option
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Issuance of common , Shares	6,000

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 276,187	$ 18,829
Patient accounts receivable	60,069	43,706
Prepaid expenses and other current assets	27,804	13,745
Total current assets	364,060	76,280
NONCURRENT ASSETS
Property and equipment, net	91,799	59,349
Intangible assets, net	316,534	332,796
Goodwill	1,138,734	1,098,659
Deposits	3,300	2,647
Total noncurrent assets	1,550,367	1,493,451
Total assets	1,914,427	1,569,731
CURRENT LIABILITIES
Accounts payable	9,958	7,688
Accrued payroll expenses	50,380	38,024
Other accrued expenses	38,783	14,685
Current portion of contingent consideration	10,876	10,563
Other current liabilities	2,561	4,961
Total current liabilities	112,558	75,921
NONCURRENT LIABILITIES
Long-term debt, net	157,067	362,534
Other noncurrent liabilities	15,704	11,363
Contingent consideration, net of current portion	3,247	5,851
Deferred tax liability, net	81,219	81,226
Total noncurrent liabilities	257,237	460,974
Total liabilities	369,795	536,895
COMMITMENT AND CONTINGENCIES (see Note 16)
STOCKHOLDERS’/MEMBERS’ EQUITY
Preferred stock – par value $0.01 per share; 25,000 and 0 shares authorized as of June 30, 2021 and December 31, 2020, respectively; no shares issued and outstanding as of June 30, 2021 and December 31, 2020
Common stock – par value $0.01 per share; 800,000 and 0 shares authorized as of June 30, 2021 and December 31, 2020, respectively; 373,649 and 0 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	3,742	0
Additional paid-in capital	1,669,480	1,452
Accumulated deficit	(128,590)	(13,125)
Total stockholders'/members’ equity	1,544,632	997,836
Total liabilities, redeemable units and stockholders’/members’ equity	1,914,427	1,569,731
Redeemable Class A Unit
REDEEMABLE UNITS
Redeemable Class A units – 0 and 35,000 units authorized, issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	0	35,000
Common Unit Class A-1
STOCKHOLDERS’/MEMBERS’ EQUITY
Common Unit, Issuance Value	0	959,563
Common Unit Class A-2
STOCKHOLDERS’/MEMBERS’ EQUITY
Common Unit, Issuance Value	0	49,946
Common Unit Class B
STOCKHOLDERS’/MEMBERS’ EQUITY
Common Unit, Issuance Value	$ 0	$ 0

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2021

Business Acquisition, Contingent Consideration [Line Items]

Schedule of Maximum Contingent Consideration Based on the Acquisition Agreements

The following table summarizes the maximum contingent consideration based on the acquisition agreements:


	Successor						Predecessor
Contingent consideration	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Maximum contingent consideration based on acquisition agreements	$	2,350	$	3,350	$	10,300	$	1,086	$	4,336

Schedule Of Related-party Rent Expense

Total related-party rent expense included in center costs in the unaudited consolidated statements of income/(loss) and comprehensive income/(loss) amounted to:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Rent expense	$	661	$	1,197	$	107	$	148	$	388

Contingent Consideration [Member]

Business Acquisition, Contingent Consideration [Line Items]

Schedule of Maximum Contingent Consideration Based on the Acquisition Agreements

The following table presents changes to the Company’s contingent consideration balance:


	Amount
Balance as of January 1, 2021 (Successor)	$	16,414
Additions related to acquisitions		2,739
Payments of contingent consideration		(5,587	)
Loss on remeasurement		557
Ending balance as of June 30, 2021 (Successor)	$	14,123


	Amount
Balance as of April 13, 2020 (Successor)	$	—
Additions related to TPG Acquisition		9,909
Additions related to acquisitions		3,191
Payments of contingent consideration		(2,200	)
Loss on remeasurement		51
Ending balance as of June 30, 2020 (Successor)	$	10,951

	Amount
Balance as of January 1, 2020 (Predecessor)	$	25,536
Additions related to acquisitions		3,788
Payments of contingent consideration		(19,093	)
Gain on remeasurement		(322	)
Ending balance as of May 14, 2020 (Predecessor)	$	9,909

Schedule Of Related-party Rent Expense

Total third-party rent expense amounted to as follows in the unaudited consolidated statements of income/(loss) and comprehensive income/(loss):


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Center costs	$	7,173	$	13,576	$	2,295	$	1,268	$	4,082
General and administrative expenses		353		528		61		48		128
Total rent expense	$	7,526	$	14,104	$	2,356	$	1,316	$	4,210

Summary of Future Minimum Lease Payments

A summary of non-cancellable future minimum third-party operating lease payments under these leases as of June 30, 2021 (Successor) is as follows:


	Amount
Remainder of 2021	$	11,980
2022		23,650
2023		21,976
2024		18,064
2025		13,965
Thereafter		25,345
Total	$	114,980

UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN REDEEMABLE UNITS AND STOCKHOLDERS' / MEMBERS' EQUITY - USD ($) $ in Thousands	Total	T P G Acquisition	I P O [Member]	Class A Redeemable Units [Member]	Class A Redeemable Units [Member] T P G Acquisition	Class A-1 Common Units [Member]	Class A-1 Common Units [Member] T P G Acquisition	Class A-2 Common Units [Member]	Class A-2 Common Units [Member] T P G Acquisition	Class B Common Units [Member]	Series A Redeemable Convertible Preferred Units	Series A1 Redeemable Convertible Preferred Units	Class A Common Units	Class C Common Units	Common Stock [Member]	Common Stock [Member] I P O [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] I P O [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] Series A Redeemable Convertible Preferred Units	Accumulated Deficit [Member] Series A1 Redeemable Convertible Preferred Units
Balance at Dec. 31, 2019	$ (166,355)												$ 3	$ 0			$ 0		$ (166,358)
Temporary Equity, Shares Outstanding at Dec. 31, 2019											16,459,000	109,838,000
Temporary Equity, Carrying Amount, Attributable to Parent at Dec. 31, 2019											$ 20,261	$ 282,652
Shares, Outstanding at Dec. 31, 2019													25,252,000	4,980,000
Net loss	(24,945)																		(24,945)
Accretion of Redeemable Class A Units												$ 272,582									$ 272,582
Issuance of common units for acquisitions of businesses	0
Issuance of common units for convertible promissory note conversion	0
Repurchases of Series A redeemable convertible preferred units	1,000										$ 500									$ 500
Repurchases of Series A redeemable convertible preferred units, shares											(333,000)
Balance at May. 14, 2020	(464,382)												$ 3	$ 0			0		(464,385)
Temporary Equity, Shares Outstanding at May. 14, 2020											16,126,000	109,838,000
Temporary Equity, Carrying Amount, Attributable to Parent at May. 14, 2020											$ 19,761	$ 555,234
Shares, Outstanding at May. 14, 2020													25,252,000	4,980,000
Balance at Mar. 31, 2020	(164,202)												$ 3	$ 0			0		(164,205)
Temporary Equity, Shares Outstanding at Mar. 31, 2020											16,126,000	109,838,000
Temporary Equity, Carrying Amount, Attributable to Parent at Mar. 31, 2020											$ 19,761	$ 282,652
Shares, Outstanding at Mar. 31, 2020													25,252,000	4,980,000
Net loss	(27,598)																		(27,598)
Accretion of Redeemable Class A Units												$ 272,582									$ 272,582
Balance at May. 14, 2020	(464,382)												$ 3	$ 0			0		(464,385)
Temporary Equity, Shares Outstanding at May. 14, 2020											16,126,000	109,838,000
Temporary Equity, Carrying Amount, Attributable to Parent at May. 14, 2020											$ 19,761	$ 555,234
Shares, Outstanding at May. 14, 2020													25,252,000	4,980,000
Balance at Apr. 13, 2020	0					$ 0		$ 0		$ 0							0		0
Temporary Equity, Shares Outstanding at Apr. 13, 2020				0
Temporary Equity, Carrying Amount, Attributable to Parent at Apr. 13, 2020				$ 0
Shares, Outstanding at Apr. 13, 2020								0		0
Net loss	(4,342)																		(4,342)
Issuance of common, Value		$ 633,585					$ 633,585
Issuance of common , Shares		633,585,000
Issuance of common units for acquisitions of businesses	4,500	$ 346,823			$ 35,000		$ 310,978	$ 4,500	$ 35,845
Issuance of common units for acquisitions of businesses, shares					35,000,000		310,978,000	4,500,000	35,845,000
Stock and unit-based compensation	292																292
Issuance of common units for convertible promissory note conversion	511							$ 511
Issuance of common units for convertible promissory note conversion, shares								511,000
Balance at Jun. 30, 2020	981,369					$ 944,563		$ 40,856		$ 0							292		(4,342)
Temporary Equity, Shares Outstanding at Jun. 30, 2020				35,000,000
Temporary Equity, Carrying Amount, Attributable to Parent at Jun. 30, 2020				$ 35,000
Shares, Outstanding at Jun. 30, 2020						944,563,000		40,856,000		0
Balance at Apr. 13, 2020	$ 0					$ 0		$ 0		$ 0							0		0
Temporary Equity, Shares Outstanding at Apr. 13, 2020				0
Temporary Equity, Carrying Amount, Attributable to Parent at Apr. 13, 2020				$ 0
Shares, Outstanding at Apr. 13, 2020								0		0
Issuance of common , Shares	1,044,509,000
Balance at Dec. 31, 2020	$ 997,836					$ 959,563		$ 49,946		$ 0					$ 0		1,452		(13,125)
Temporary Equity, Shares Outstanding at Dec. 31, 2020				35,000,000
Temporary Equity, Carrying Amount, Attributable to Parent at Dec. 31, 2020				$ 35,000
Shares, Outstanding at Dec. 31, 2020						959,563,000		49,946,000		0					0
Net loss	(78,715)																		(78,715)
Issuance of common, Value	$ 1,000		$ 548,905					$ 1,000								$ 328		$ 548,577
Issuance of common , Shares	1,687,000							962,000								32,800,000
Accretion of Redeemable Class A Units	$ 36,750			36,750															36,750
Issuance of common units for acquisitions of businesses	1,486							$ 1,486
Issuance of common units for acquisitions of businesses, shares								725,000
Vested Class B Profits Interest										17,920,000
Conversion of Redeemable Class A Units into common stock upon closing of initial public offering, Value	71,750			$ (71,750)											$ 102		71,648
Conversion of Redeemable Class A Units into common stock upon closing of initial public offering, Shares				35,000,000											10,234,000
Conversion of common units into common stock upon closing of initial public offering, Value						$ (959,563)		$ (52,432)							$ 2,957		1,009,038
Conversion of common units into common stock upon closing of initial public offering, Shares						959,563,000		51,633,000							295,663,000
Conversion of vested Class Profits Interests to common stock upon closing of initial public offering										17,920,000					4,186,000
Conversion of vested Class Profits Interests to common stock upon closing of initial public offering Value															$ 42		42
Conversion of Unvested Class Profits Interests to Common Stock Upon Closing of Initial Public Offering Value															$ 308		308
Conversion of Unvested Class Profits Interests to Common Stock Upon Closing of Initial Public Offering Share															30,766,000
Endowment of shares to the LifeStance Health Foundation, Shares															500,000
Endowment of shares to the LifeStance Health Foundation, Value	9,000														$ 5		8,995
Stock and unit-based compensation	30,120																30,120
Issuance of common units for convertible promissory note conversion	0
Repurchases of Series A redeemable convertible preferred units	0
Balance at Jun. 30, 2021	1,544,632					$ 0		$ 0		$ 0					$ 3,742		1,669,480		(128,590)
Temporary Equity, Shares Outstanding at Jun. 30, 2021				0
Temporary Equity, Carrying Amount, Attributable to Parent at Jun. 30, 2021				$ 0
Shares, Outstanding at Jun. 30, 2021						0		0		0					374,149,000
Balance at Mar. 31, 2021	954,009					$ 959,563		$ 50,946		$ 0					$ 0		2,057		(58,557)
Temporary Equity, Shares Outstanding at Mar. 31, 2021				35,000,000
Temporary Equity, Carrying Amount, Attributable to Parent at Mar. 31, 2021				$ 71,750
Shares, Outstanding at Mar. 31, 2021						959,563,000		50,908,000		0					0
Net loss	(70,033)																		(70,033)
Issuance of common, Value			$ 548,905													$ 328		$ 548,577
Issuance of common , Shares																32,800,000
Issuance of common units for acquisitions of businesses	$ 1,486							$ 1,486
Issuance of common units for acquisitions of businesses, shares								725,000
Vested Class B Profits Interest	17,920,000									17,920,000
Conversion of Redeemable Class A Units into common stock upon closing of initial public offering, Value	$ 71,750			$ (71,750)											$ 102		71,648
Conversion of Redeemable Class A Units into common stock upon closing of initial public offering, Shares				(35,000,000)											10,234,000
Conversion of common units into common stock upon closing of initial public offering, Value						$ 959,563		$ (52,432)							$ 2,957		1,009,038
Conversion of common units into common stock upon closing of initial public offering, Shares						959,563,000		51,633,000							295,663,000
Conversion of vested Class Profits Interests to common stock upon closing of initial public offering										17,920,000					4,186,000
Conversion of vested Class Profits Interests to common stock upon closing of initial public offering Value															$ 42		(42)
Conversion of Unvested Class Profits Interests to Common Stock Upon Closing of Initial Public Offering Value															$ 308		308
Conversion of Unvested Class Profits Interests to Common Stock Upon Closing of Initial Public Offering Share															30,766,000
Endowment of shares to the LifeStance Health Foundation, Shares															500,000
Endowment of shares to the LifeStance Health Foundation, Value	9,000														$ 5		8,995
Stock and unit-based compensation	29,515																29,515
Balance at Jun. 30, 2021	$ 1,544,632					$ 0		$ 0		$ 0					$ 3,742		$ 1,669,480		$ (128,590)
Temporary Equity, Shares Outstanding at Jun. 30, 2021				0
Temporary Equity, Carrying Amount, Attributable to Parent at Jun. 30, 2021				$ 0
Shares, Outstanding at Jun. 30, 2021						0		0		0					374,149,000

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Total	$ 101,910	$ 63,781
Less: Accumulated depreciation	(10,111)	(4,432)
Total property and equipment, net	91,799	59,349
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Total	56,233	39,586
Computers and Peripherals [Member]
Property Plant And Equipment [Line Items]
Total	8,970	5,749
Furniture, Fixtures and Equipment [Member]
Property Plant And Equipment [Line Items]
Total	12,012	8,726
Medical Equipment [Member]
Property Plant And Equipment [Line Items]
Total	2,603	2,143
Construction in Progress [Member]
Property Plant And Equipment [Line Items]
Total	$ 22,092	$ 7,577

Redeemable Convertible Preferred Units - Redeemable Convertible Preferred Units (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($) $ / shares shares
Series A1 Preferred Stock
Issued Units \| shares	109,838
Liquidation Preference	$ 133,546
Initial Carrying Amount	$ 109,838
Series A1 Preferred Stock \| 2017
Year of Issuance	2017
Authorized Units \| shares	110,898
Issued Units \| shares	87,000
Issuance Price per Unit \| $ / shares	$ 1.00
Liquidation Preference	$ 106,978
Initial Carrying Amount	$ 87,000
Series A1 Preferred Stock \| 2018
Year of Issuance	2018
Authorized Units \| shares	110,898
Issued Units \| shares	22,838
Issuance Price per Unit \| $ / shares	$ 1.00
Liquidation Preference	$ 26,568
Initial Carrying Amount	$ 22,838
Series A Preferred Stock
Issued Units \| shares	16,126
Liquidation Preference	$ 23,316
Initial Carrying Amount	$ 19,761
Series A Preferred Stock \| 2017
Year of Issuance	2017
Authorized Units \| shares	23,600
Issued Units \| shares	11,741
Issuance Price per Unit \| $ / shares	$ 1.00
Liquidation Preference	$ 14,504
Initial Carrying Amount	$ 11,741
Series A Preferred Stock \| 2018
Year of Issuance	2018
Authorized Units \| shares	23,600
Issued Units \| shares	1,500
Issuance Price per Unit \| $ / shares	$ 1.50
Liquidation Preference	$ 2,536
Initial Carrying Amount	$ 2,250
Series A Preferred Stock \| 2019
Year of Issuance	2019
Authorized Units \| shares	23,600
Issued Units \| shares	2,885
Issuance Price per Unit \| $ / shares	$ 2.00
Liquidation Preference	$ 6,276
Initial Carrying Amount	$ 5,770

TPG Acquisition - Schedule of Unaudited Pro Forma Revenue and Net Loss (Details) - T P G Acquisition [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Revenue	$ 377,217	$ 212,518
Net loss	$ (26,727)	$ (52,463)

Stock And Unit-Based Compensation - Summary of Restricted Stock Unit (RSU) Activity (Details) - Restricted Stock Unit shares in Thousands	1 Months Ended
	Jun. 30, 2021 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding \| shares	0
Conversion \| shares	0
Granted \| shares	6,128
Outstanding \| shares	6,128
Outstanding \| $ / shares	$ 0
Conversion \| $ / shares	0
Granted \| $ / shares	18.00
Outstanding \| $ / shares	$ 18.00

LONG-TERM DEBT

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Long-term Debt

NOTE 9 LONG-TERM DEBT

Long-term debt consists of the following:


	Successor
	June 30, 2021			December 31, 2020
Term loans	$	71,140		$	283,950
Delayed Draw loans		90,752			89,870
Total long-term debt		161,892			373,820
Less: Current portion of long-term debt		(1,619	)		(3,738	)
Less: Debt issue costs		(3,206	)		(7,548	)
Total Long-Term Debt, Net of Current Portion and Debt Issue Costs	$	157,067		$	362,534

The current portion of long-term debt is included within other current liabilities on the consolidated balance sheets. The fair value of long-term debt is based on the present value of future payments discounted by the market interest rates or the fixed rates based on current rates offered to the Company for debt with similar terms and maturities, which is a Level 2 fair value measurement. Long-term debt is presented at carrying value on the unaudited consolidated balance sheets. The fair value of long-term debt at June 30, 2021 (Successor) and December 31, 2020 (Successor) was $190,167 and $458,685, respectively.

In connection with the voluntary prepayment of $294,000 related to borrowings outstanding as of June 15, 2021, the Company recognized an extinguishment of debt charge within interest expense of $14,444 during the second quarter of 2021 related to the prepayment charge and the write-off of unamortized debt issuance costs.

On May 14, 2020, in connection with the TPG Acquisition, the successor company entered into the Credit Agreement among LifeStance Holdings, Lynnwood Intermediate Holdings, Inc., Capital One, National Association, and each lender party thereto (the “May 2020 Credit Agreement”). The successor company did not assume any existing debt from the predecessor company. The May 2020 Credit Agreement resulted in the extinguishment of the March 2019 Credit Agreement recorded in the predecessor period, with the May 2020 Credit Agreement debt being treated as a new issuance of debt in the successor period. Unamortized debt issue costs of $2,689 were included in the calculation of extinguishment of debt. The Company borrowed $210,000 in term loans and $50,000 in delayed draw loans, payable in quarterly principal and interest payments, with a maturity date of May 14, 2026. The interest rate is a variable interest rate determined at LIBOR plus 3.25% to 3.75%. The May 2020 Credit Agreement provides for an alternative rate structure to LIBOR. The term loans and delayed draw loans are collateralized by the tangible assets and stock pledge of the Company.

On November 4, 2020, the Company amended the May 2020 Credit Agreement, adding an aggregate $115,000 in loan commitments by increasing the term loans by $75,000 and the delayed draw loans by $40,000. The underlying terms of the agreement remained the same.

In February 2021, the Company amended the May 2020 Credit Agreement, increasing the total delayed draw term loan commitment by $50,000. The other terms of the agreement remained the same.

In February 2021, the Company drew $1,500 from the aforementioned May 2020 Credit Agreement.

On April 30, 2021, the Company amended the May 2020 Credit Agreement, adding an aggregated $70,000 in loan commitments, increase the term loans by $20,000 and the delayed draw term loan commitment by $50,000. The terms of the agreement otherwise remained the same.

The May 2020 Credit Agreement requires the Company to maintain compliance with certain restrictive financial covenants related to earnings, leverage ratios, and other financial metrics. The Company was in compliance with all debt covenants at June 30, 2021 (Successor).

Interest expense, including prepayment charge, consists of the following:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Interest expense	$	23,174	$	31,806	$	5,562	$	1,340	$	3,020

Future principal payments on long-term debt are as follows:


	Amount
Remainder of 2021	$	809
2022		1,619
2023		1,619
2024		1,619
2025		1,619
Thereafter		154,607
Total	$	161,892

Revolving Loan

Under the May 2020 Credit Agreement, the Company has a revolving loan commitment from Capital One in the amount of $20,000. Any borrowing on the revolving loan is due in full on May 14, 2025. The revolving loan can be drawn upon at an interest rate equal to LIBOR plus 4.50% to 4.75%, depending on certain financial ratios. The unused revolving loan incurs a commitment fee of 0.5% per annum.

In February 2021, the Company drew $2,500 from the credit revolver.

There are no amounts outstanding on the revolving loan as of June 30, 2021 (Successor).

FAIR VALUE MEASUREMENTS - Summary of the Significant Assumptions Used for the Fair Value Measurement of the Contingent Consideration Liability (Details)

Jun. 30, 2021

Dec. 31, 2020

E B I T D A Based Earn Outs | Volatility [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.50

Minimum | E B I T D A Based Earn Outs

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.1615

Minimum | E B I T D A Based Earn Outs | Counter-Party Risk Premium [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.0846

Minimum | Probability Weighted Analysis

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

^[1]

0.25

Minimum | F T E Based Earn Outs

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.0865

^[1]

2,500

Maximum | E B I T D A Based Earn Outs

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.1965

Maximum | E B I T D A Based Earn Outs | Counter-Party Risk Premium [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.0877

Maximum | Probability Weighted Analysis

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

^[1]

Maximum | F T E Based Earn Outs

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.0868

^[1]

10,000

[1]

During the second quarter of 2021, all contingent consideration liabilities previously estimated using a Monte Carlo Simulation EBITDA based earn-out technique transitioned, as deemed appropriate due to the remaining timing of the contracts and materiality of the underlying balances, to a probability-weighted analysis based on projected outcomes.

Summary of Significant Accounting Policies - Additional Information (Details)	Jun. 30, 2021
Accounting Policies [Abstract]
Acquisition of Non Medical Assets	100.00%

Redeemable Convertible Preferred Units (Tables)

6 Months Ended

Jun. 30, 2021

Temporary Equity Disclosure [Abstract]

Summary of Preferred Units Prior to the TPG Acquisition

The table below includes the number of authorized


	Year of Issuance	Authorized Units		Issued Units		Issuance Price per Unit		Liquidation Preference		Initial Carrying Amount
Unit Series
Series A-1	2017		110,898		87,000	$	1.00	$	106,978	$	87,000
	2018		110,898		22,838		1.00		26,568		22,838
					109,838			$	133,546	$	109,838
Series A	2017		23,600		11,741	$	1.00	$	14,504	$	11,741
	2018		23,600		1,500		1.50		2,536		2,250
	2019		23,600		2,885		2.00		6,276		5,770
					16,126			$	23,316	$	19,761

Property and Equipment

6 Months Ended

Jun. 30, 2021

Property Plant And Equipment [Abstract]

Property and Equipment

NOTE 6 PROPERTY AND EQUIPMENT

Property and equipment consists of the following:


	Successor
	June 30, 2021			December 31, 2020
Leasehold improvements	$	56,233		$	39,586
Computers and peripherals		8,970			5,749
Furniture, fixtures and equipment		12,012			8,726
Medical equipment		2,603			2,143
Construction in process		22,092			7,577
Total	$	101,910		$	63,781
Less: Accumulated depreciation		(10,111	)		(4,432	)
Total property and equipment, net	$	91,799		$	59,349

Depreciation expense consists of the following:


	Successor						Predecessor
	Three months ended June 30, 2021		Six months ended June 30, 2021		April 13 to June 30, 2020		April 1 to May 14, 2020		January 1 to May 14, 2020
Depreciation expense	$	3,070	$	5,679	$	763	$	657	$	1,900

Long- Term Debt - Summary of Long-term Debt Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	May 14, 2020
Debt Instrument [Line Items]
Term loans	$ 157,067	$ 362,534
Less: Current portion of long-term debt	(1,619)	(3,738)
Less: Debt issue costs	(3,206)	(7,548)
Total	161,892	373,820
Term Loans
Debt Instrument [Line Items]
Total	71,140	283,950	$ 210,000
Delayed Drawn Loans
Debt Instrument [Line Items]
Total	$ 90,752	$ 89,870	$ 50,000

Stock And Unit-Based Compensation - Summary of Restricted Stock Awards (RSA) Activity (Details) - Restricted Stock Award shares in Thousands	1 Months Ended
	Jun. 30, 2021 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding \| shares	0
Conversion \| shares	30,766
Granted \| shares	0
Outstanding \| shares	30,766
Outstanding \| $ / shares	$ 0
Conversion \| $ / shares	11.98
Granted \| $ / shares	0
Outstanding \| $ / shares	$ 11.98

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands				1 Months Ended	3 Months Ended	6 Months Ended
	Apr. 30, 2021	Nov. 04, 2020	May 14, 2020	Feb. 29, 2020	Jun. 30, 2021	Jun. 30, 2021	Jun. 15, 2021	Feb. 28, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term Debt, Fair Value					$ 190,167	$ 190,167			$ 458,685
Voluntary Prepayment of Borrowings Outstanding							$ 294,000
Extinguishment of Debt, Amount					14,444
Unamortized Debt Issuance Expense			$ 2,689
Long-term debt, net					161,892	161,892			373,820
Long-term Debt, Maturities, Repayment Terms			May 14, 2026
May 2020 Credit Agreement [Member]
Debt Instrument [Line Items]
Aggregate loan commitment amount	$ 70,000	$ 115,000
Increase in term loan		75,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Proceeds from Lines of Credit				$ 2,500
Revolving Credit Facility [Member] \| May 2020 Credit Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity					20,000	$ 20,000
Unused revolving loan commitment fee percentage						0.005
Revolving loan outstanding amount					0	$ 0
Revolving loan,expiration date						May 14, 2025
Term Loans
Debt Instrument [Line Items]
Long-term debt, net			$ 210,000		71,140	$ 71,140			283,950
Term Loans \| May 2020 Credit Agreement [Member]
Debt Instrument [Line Items]
Increase in term loan	20,000
Delayed Drawn Loans
Debt Instrument [Line Items]
Long-term debt, net			$ 50,000		$ 90,752	$ 90,752			$ 89,870
Delayed Drawn Loans \| May 2020 Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt, net		$ 40,000						$ 1,500
Aggregate loan commitment amount	$ 50,000							$ 50,000
London Interbank Offered Rate (LIBOR) [Member] \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.25%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum \| Revolving Credit Facility [Member] \| May 2020 Credit Agreement [Member]
Debt Instrument [Line Items]
Interest Rate						4.50%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.75%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum \| Revolving Credit Facility [Member] \| May 2020 Credit Agreement [Member]
Debt Instrument [Line Items]
Interest Rate						4.75%

Stock And Unit-Based Compensation - Summary of Class B Profits Interests Units (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Class B profits interests outstanding, forefeited	0.13
Class B profits interests outstanding, conversion	0.13
Weighted- average grant date fair value, beginning balance	$ 0.13	$ 0	$ 0.13
Weighted- average grant date fair value, granted	0	0.13	0.16
Weighted- average grant date fair value, vested	0.13	0	0.13
Weighted- average grant date fair value, forfeited			0.13
Weighted- average grant date fair value, conversion			0.13
Weighted- average grant date fair value, ending balance	$ 0	$ 0.13	$ 0
Class B Profits Interests Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Class B profits interests outstanding, beginning balance	152,865,000	0	143,343,000
Class B profits interests outstanding, granted	0	134,855,000	9,522,000
Class B profits interests outstanding, vested	17,920,000	0	17,920,000
Class B profits interests outstanding, forefeited	245,000		245,000
Class B profits interests outstanding, conversion	152,620,000		152,620,000
Class B profits interests outstanding, ending balance	0	134,855,000	0