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Side-by-side financial comparison of H2O AMERICA (HTO) 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 $199.4M, roughly 1.9× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs 3.1%, a 5.1% gap on every dollar of revenue. On growth, LifeStance Health Group, Inc. posted the faster year-over-year revenue change (17.4% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 12.8%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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.
HTO vs LFST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $382.2M |
| Net Profit | $16.2M | $11.7M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | 4.7% |
| Net Margin | 8.1% | 3.1% |
| Revenue YoY | 1.5% | 17.4% |
| Net Profit YoY | -29.2% | 264.1% |
| EPS (diluted) | $0.45 | — |
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.
| Q4 25 | $199.4M | $382.2M | ||
| Q3 25 | $243.5M | $363.8M | ||
| Q2 25 | $197.8M | $345.3M | ||
| Q1 25 | $164.9M | $333.0M | ||
| Q4 24 | $196.5M | $325.5M | ||
| Q3 24 | $216.7M | $312.7M | ||
| Q2 24 | $173.1M | $312.3M | ||
| Q1 24 | $150.0M | $300.4M |
| Q4 25 | $16.2M | $11.7M | ||
| Q3 25 | $45.1M | $1.1M | ||
| Q2 25 | $24.7M | $-3.8M | ||
| Q1 25 | $16.6M | $709.0K | ||
| Q4 24 | $22.9M | $-7.1M | ||
| Q3 24 | $38.7M | $-6.0M | ||
| Q2 24 | $20.7M | $-23.3M | ||
| Q1 24 | $11.7M | $-21.1M |
| Q4 25 | 16.6% | 4.7% | ||
| Q3 25 | 26.5% | 2.0% | ||
| Q2 25 | 22.2% | -0.9% | ||
| Q1 25 | 21.8% | 0.5% | ||
| Q4 24 | 22.2% | 0.3% | ||
| Q3 24 | 26.9% | 0.0% | ||
| Q2 24 | 23.4% | -5.1% | ||
| Q1 24 | 18.6% | -5.6% |
| Q4 25 | 8.1% | 3.1% | ||
| Q3 25 | 18.5% | 0.3% | ||
| Q2 25 | 12.5% | -1.1% | ||
| Q1 25 | 10.0% | 0.2% | ||
| Q4 24 | 11.7% | -2.2% | ||
| Q3 24 | 17.8% | -1.9% | ||
| Q2 24 | 12.0% | -7.5% | ||
| Q1 24 | 7.8% | -7.0% |
| Q4 25 | $0.45 | — | ||
| Q3 25 | $1.27 | — | ||
| Q2 25 | $0.71 | — | ||
| Q1 25 | $0.49 | — | ||
| Q4 24 | $0.70 | — | ||
| Q3 24 | $1.17 | — | ||
| Q2 24 | $0.64 | — | ||
| Q1 24 | $0.36 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $248.6M |
| Total DebtLower is stronger | $1.9B | $282.8M |
| Stockholders' EquityBook value | $1.5B | $1.5B |
| Total Assets | $5.1B | $2.2B |
| Debt / EquityLower = less leverage | 1.23× | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $248.6M | ||
| Q3 25 | $11.3M | $203.9M | ||
| Q2 25 | $19.8M | $188.9M | ||
| Q1 25 | $23.7M | $134.3M | ||
| Q4 24 | $11.1M | $154.6M | ||
| Q3 24 | $4.0M | $102.6M | ||
| Q2 24 | $22.8M | $87.0M | ||
| Q1 24 | $4.5M | $49.5M |
| Q4 25 | $1.9B | $282.8M | ||
| Q3 25 | — | $284.6M | ||
| Q2 25 | — | $286.4M | ||
| Q1 25 | — | $288.2M | ||
| Q4 24 | $1.7B | $290.0M | ||
| Q3 24 | — | $287.3M | ||
| Q2 24 | — | $288.0M | ||
| Q1 24 | — | $288.8M |
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $1.3B | $1.4B | ||
| Q1 24 | $1.2B | $1.4B |
| Q4 25 | $5.1B | $2.2B | ||
| Q3 25 | $5.0B | $2.1B | ||
| Q2 25 | $4.8B | $2.1B | ||
| Q1 25 | $4.7B | $2.1B | ||
| Q4 24 | $4.7B | $2.1B | ||
| Q3 24 | $4.6B | $2.1B | ||
| Q2 24 | $4.4B | $2.1B | ||
| Q1 24 | $4.4B | $2.1B |
| Q4 25 | 1.23× | 0.19× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | 1.26× | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.20× | ||
| Q1 24 | — | 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 | $63.5M | $57.6M |
| Free Cash FlowOCF − Capex | — | $46.6M |
| FCF MarginFCF / Revenue | — | 12.2% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 3.92× | 4.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $110.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $57.6M | ||
| Q3 25 | $77.3M | $27.3M | ||
| Q2 25 | $60.8M | $64.4M | ||
| Q1 25 | $43.2M | $-3.1M | ||
| Q4 24 | $41.5M | $62.3M | ||
| Q3 24 | $53.5M | $22.7M | ||
| Q2 24 | $49.3M | $44.1M | ||
| Q1 24 | $51.2M | $-21.8M |
| Q4 25 | — | $46.6M | ||
| Q3 25 | — | $17.0M | ||
| Q2 25 | — | $56.6M | ||
| Q1 25 | — | $-10.3M | ||
| Q4 24 | — | $56.0M | ||
| Q3 24 | — | $17.7M | ||
| Q2 24 | — | $39.0M | ||
| Q1 24 | — | $-26.9M |
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 16.4% | ||
| Q1 25 | — | -3.1% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | -9.0% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | 3.92× | 4.93× | ||
| Q3 25 | 1.71× | 25.34× | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | -4.36× | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | — | ||
| Q1 24 | 4.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
LFST
Segment breakdown not available.
