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Side-by-side financial comparison of LifeStance Health Group, Inc. (LFST) and Perella Weinberg Partners (PWP). 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 $219.2M, roughly 1.7× Perella Weinberg Partners). Perella Weinberg Partners runs the higher net margin — 6.3% vs 3.1%, a 3.2% gap on every dollar of revenue. On growth, LifeStance Health Group, Inc. posted the faster year-over-year revenue change (17.4% vs -2.9%). LifeStance Health Group, Inc. produced more free cash flow last quarter ($46.6M vs $30.5M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% CAGR vs 12.8%).
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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
LFST vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $382.2M | $219.2M |
| Net Profit | $11.7M | $13.8M |
| Gross Margin | — | — |
| Operating Margin | 4.7% | 8.5% |
| Net Margin | 3.1% | 6.3% |
| Revenue YoY | 17.4% | -2.9% |
| Net Profit YoY | 264.1% | — |
| EPS (diluted) | — | $0.11 |
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 | $382.2M | $219.2M | ||
| Q3 25 | $363.8M | $164.6M | ||
| Q2 25 | $345.3M | $155.3M | ||
| Q1 25 | $333.0M | $211.8M | ||
| Q4 24 | $325.5M | $225.7M | ||
| Q3 24 | $312.7M | $278.2M | ||
| Q2 24 | $312.3M | $272.0M | ||
| Q1 24 | $300.4M | $102.1M |
| Q4 25 | $11.7M | $13.8M | ||
| Q3 25 | $1.1M | $6.0M | ||
| Q2 25 | $-3.8M | $2.7M | ||
| Q1 25 | $709.0K | $17.3M | ||
| Q4 24 | $-7.1M | — | ||
| Q3 24 | $-6.0M | $16.4M | ||
| Q2 24 | $-23.3M | $-66.0M | ||
| Q1 24 | $-21.1M | $-35.8M |
| Q4 25 | 4.7% | 8.5% | ||
| Q3 25 | 2.0% | 5.4% | ||
| Q2 25 | -0.9% | 5.8% | ||
| Q1 25 | 0.5% | 5.5% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.0% | 12.9% | ||
| Q2 24 | -5.1% | -30.2% | ||
| Q1 24 | -5.6% | -52.4% |
| Q4 25 | 3.1% | 6.3% | ||
| Q3 25 | 0.3% | 3.6% | ||
| Q2 25 | -1.1% | 1.8% | ||
| Q1 25 | 0.2% | 8.2% | ||
| Q4 24 | -2.2% | — | ||
| Q3 24 | -1.9% | 5.9% | ||
| Q2 24 | -7.5% | -24.3% | ||
| Q1 24 | -7.0% | -35.1% |
| Q4 25 | — | $0.11 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | — | $0.04 | ||
| Q1 25 | — | $0.24 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0.24 | ||
| Q2 24 | — | $-1.21 | ||
| Q1 24 | — | $-0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $248.6M | $255.9M |
| Total DebtLower is stronger | $282.8M | — |
| Stockholders' EquityBook value | $1.5B | $-127.4M |
| Total Assets | $2.2B | $797.6M |
| Debt / EquityLower = less leverage | 0.19× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $248.6M | $255.9M | ||
| Q3 25 | $203.9M | $185.5M | ||
| Q2 25 | $188.9M | $145.0M | ||
| Q1 25 | $134.3M | $111.2M | ||
| Q4 24 | $154.6M | $407.4M | ||
| Q3 24 | $102.6M | $335.1M | ||
| Q2 24 | $87.0M | $185.3M | ||
| Q1 24 | $49.5M | $156.7M |
| Q4 25 | $282.8M | — | ||
| Q3 25 | $284.6M | — | ||
| Q2 25 | $286.4M | — | ||
| Q1 25 | $288.2M | — | ||
| Q4 24 | $290.0M | — | ||
| Q3 24 | $287.3M | — | ||
| Q2 24 | $288.0M | — | ||
| Q1 24 | $288.8M | — |
| Q4 25 | $1.5B | $-127.4M | ||
| Q3 25 | $1.5B | $-302.4M | ||
| Q2 25 | $1.5B | $-318.4M | ||
| Q1 25 | $1.5B | $-323.1M | ||
| Q4 24 | $1.4B | $-421.4M | ||
| Q3 24 | $1.4B | $-360.8M | ||
| Q2 24 | $1.4B | $-283.0M | ||
| Q1 24 | $1.4B | $161.9M |
| Q4 25 | $2.2B | $797.6M | ||
| Q3 25 | $2.1B | $650.2M | ||
| Q2 25 | $2.1B | $606.7M | ||
| Q1 25 | $2.1B | $570.5M | ||
| Q4 24 | $2.1B | $876.8M | ||
| Q3 24 | $2.1B | $810.9M | ||
| Q2 24 | $2.1B | $645.5M | ||
| Q1 24 | $2.1B | $583.6M |
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.19× | — | ||
| Q1 25 | 0.20× | — | ||
| Q4 24 | 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 | $57.6M | $34.8M |
| Free Cash FlowOCF − Capex | $46.6M | $30.5M |
| FCF MarginFCF / Revenue | 12.2% | 13.9% |
| Capex IntensityCapex / Revenue | 2.9% | 2.0% |
| Cash ConversionOCF / Net Profit | 4.93× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $110.0M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.6M | $34.8M | ||
| Q3 25 | $27.3M | $59.2M | ||
| Q2 25 | $64.4M | $56.1M | ||
| Q1 25 | $-3.1M | $-176.5M | ||
| Q4 24 | $62.3M | $223.4M | ||
| Q3 24 | $22.7M | $200.3M | ||
| Q2 24 | $44.1M | $90.0M | ||
| Q1 24 | $-21.8M | $-206.3M |
| Q4 25 | $46.6M | $30.5M | ||
| Q3 25 | $17.0M | $57.6M | ||
| Q2 25 | $56.6M | $55.3M | ||
| Q1 25 | $-10.3M | $-177.6M | ||
| Q4 24 | $56.0M | $207.0M | ||
| Q3 24 | $17.7M | $199.3M | ||
| Q2 24 | $39.0M | $83.7M | ||
| Q1 24 | $-26.9M | $-214.8M |
| Q4 25 | 12.2% | 13.9% | ||
| Q3 25 | 4.7% | 35.0% | ||
| Q2 25 | 16.4% | 35.6% | ||
| Q1 25 | -3.1% | -83.8% | ||
| Q4 24 | 17.2% | 91.7% | ||
| Q3 24 | 5.7% | 71.6% | ||
| Q2 24 | 12.5% | 30.8% | ||
| Q1 24 | -9.0% | -210.3% |
| Q4 25 | 2.9% | 2.0% | ||
| Q3 25 | 2.8% | 0.9% | ||
| Q2 25 | 2.2% | 0.5% | ||
| Q1 25 | 2.2% | 0.5% | ||
| Q4 24 | 1.9% | 7.3% | ||
| Q3 24 | 1.6% | 0.4% | ||
| Q2 24 | 1.6% | 2.3% | ||
| Q1 24 | 1.7% | 8.3% |
| Q4 25 | 4.93× | 2.52× | ||
| Q3 25 | 25.34× | 9.85× | ||
| Q2 25 | — | 20.50× | ||
| Q1 25 | -4.36× | -10.18× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
