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Side-by-side financial comparison of Enphase Energy (ENPH) and LifeStance Health Group, Inc. (LFST). Click either name above to swap in a different company.
LifeStance Health Group, Inc. is the larger business by last-quarter revenue ($382.2M vs $282.9M, roughly 1.4× Enphase Energy). LifeStance Health Group, Inc. runs the higher net margin — 3.1% vs -2.6%, a 5.7% gap on every dollar of revenue. On growth, LifeStance Health Group, Inc. posted the faster year-over-year revenue change (17.4% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $46.6M). Over the past eight quarters, LifeStance Health Group, Inc.'s revenue compounded faster (12.8% CAGR vs -3.4%).
Enphase Energy, Inc. is an American energy technology company headquartered in Fremont, California, that develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers. Enphase was established in 2006 and is the first company to successfully commercialize solar micro-inverters, which convert the direct current (DC) power generated by solar panels into grid-compatible alternating current (AC) for use or export.
Lifestance Health (Lifestance) is an American outpatient behavioral health services provider. They provide their services in person and via tele-health. Their services include therapy, psychiatry, TMS, and ketamine therapies. They have landed in lawsuits multiple times over labor violations, leaking of customer information, and misleading investors.
ENPH vs LFST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $382.2M |
| Net Profit | $-7.4M | $11.7M |
| Gross Margin | 35.5% | — |
| Operating Margin | 54.0% | 4.7% |
| Net Margin | -2.6% | 3.1% |
| Revenue YoY | -20.6% | 17.4% |
| Net Profit YoY | -124.9% | 264.1% |
| EPS (diluted) | $-0.06 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $382.2M | ||
| Q3 25 | $410.4M | $363.8M | ||
| Q2 25 | $363.2M | $345.3M | ||
| Q1 25 | $356.1M | $333.0M | ||
| Q4 24 | $382.7M | $325.5M | ||
| Q3 24 | $380.9M | $312.7M | ||
| Q2 24 | $303.5M | $312.3M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $11.7M | ||
| Q3 25 | $66.6M | $1.1M | ||
| Q2 25 | $37.1M | $-3.8M | ||
| Q1 25 | $29.7M | $709.0K | ||
| Q4 24 | $62.2M | $-7.1M | ||
| Q3 24 | $45.8M | $-6.0M | ||
| Q2 24 | $10.8M | $-23.3M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | — | ||
| Q2 24 | 45.2% | — |
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | 4.7% | ||
| Q3 25 | 16.1% | 2.0% | ||
| Q2 25 | 10.2% | -0.9% | ||
| Q1 25 | 9.0% | 0.5% | ||
| Q4 24 | 14.3% | 0.3% | ||
| Q3 24 | 13.1% | 0.0% | ||
| Q2 24 | 0.6% | -5.1% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 3.1% | ||
| Q3 25 | 16.2% | 0.3% | ||
| Q2 25 | 10.2% | -1.1% | ||
| Q1 25 | 8.3% | 0.2% | ||
| Q4 24 | 16.2% | -2.2% | ||
| Q3 24 | 12.0% | -1.9% | ||
| Q2 24 | 3.6% | -7.5% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | — | ||
| Q3 25 | $0.50 | — | ||
| Q2 25 | $0.28 | — | ||
| Q1 25 | $0.22 | — | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $0.08 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $497.5M | $248.6M |
| Total DebtLower is stronger | — | $282.8M |
| Stockholders' EquityBook value | $1.1B | $1.5B |
| Total Assets | $2.7B | $2.2B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $248.6M | ||
| Q3 25 | $1.5B | $203.9M | ||
| Q2 25 | $1.5B | $188.9M | ||
| Q1 25 | $1.5B | $134.3M | ||
| Q4 24 | $1.6B | $154.6M | ||
| Q3 24 | $1.8B | $102.6M | ||
| Q2 24 | $1.6B | $87.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $282.8M | ||
| Q3 25 | $1.2B | $284.6M | ||
| Q2 25 | $1.2B | $286.4M | ||
| Q1 25 | $1.2B | $288.2M | ||
| Q4 24 | $1.3B | $290.0M | ||
| Q3 24 | $1.3B | $287.3M | ||
| Q2 24 | $1.3B | $288.0M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $995.0M | $1.5B | ||
| Q2 25 | $880.6M | $1.5B | ||
| Q1 25 | $810.7M | $1.5B | ||
| Q4 24 | $833.0M | $1.4B | ||
| Q3 24 | $931.4M | $1.4B | ||
| Q2 24 | $884.5M | $1.4B |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $2.2B | ||
| Q3 25 | $3.3B | $2.1B | ||
| Q2 25 | $3.2B | $2.1B | ||
| Q1 25 | $3.1B | $2.1B | ||
| Q4 24 | $3.2B | $2.1B | ||
| Q3 24 | $3.3B | $2.1B | ||
| Q2 24 | $3.2B | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.19× | ||
| Q3 25 | 1.21× | 0.19× | ||
| Q2 25 | 1.37× | 0.19× | ||
| Q1 25 | 1.48× | 0.20× | ||
| Q4 24 | 1.56× | 0.20× | ||
| Q3 24 | 1.40× | 0.20× | ||
| Q2 24 | 1.47× | 0.20× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $102.9M | $57.6M |
| Free Cash FlowOCF − Capex | $83.0M | $46.6M |
| FCF MarginFCF / Revenue | 29.3% | 12.2% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | — | 4.93× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $110.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $57.6M | ||
| Q3 25 | $13.9M | $27.3M | ||
| Q2 25 | $26.6M | $64.4M | ||
| Q1 25 | $48.4M | $-3.1M | ||
| Q4 24 | $167.3M | $62.3M | ||
| Q3 24 | $170.1M | $22.7M | ||
| Q2 24 | $127.1M | $44.1M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $46.6M | ||
| Q3 25 | $5.9M | $17.0M | ||
| Q2 25 | $18.4M | $56.6M | ||
| Q1 25 | $33.8M | $-10.3M | ||
| Q4 24 | $159.2M | $56.0M | ||
| Q3 24 | $161.6M | $17.7M | ||
| Q2 24 | $117.4M | $39.0M |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | 12.2% | ||
| Q3 25 | 1.4% | 4.7% | ||
| Q2 25 | 5.1% | 16.4% | ||
| Q1 25 | 9.5% | -3.1% | ||
| Q4 24 | 41.6% | 17.2% | ||
| Q3 24 | 42.4% | 5.7% | ||
| Q2 24 | 38.7% | 12.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 2.9% | ||
| Q3 25 | 2.0% | 2.8% | ||
| Q2 25 | 2.3% | 2.2% | ||
| Q1 25 | 4.1% | 2.2% | ||
| Q4 24 | 2.1% | 1.9% | ||
| Q3 24 | 2.2% | 1.6% | ||
| Q2 24 | 3.2% | 1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 4.93× | ||
| Q3 25 | 0.21× | 25.34× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 1.63× | -4.36× | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 3.72× | — | ||
| Q2 24 | 11.73× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
