RTTNews | Aug 12, 2021 10:55AM EDT

10:55 Thursday, August 12, 2021 (RTTNews.com) - Shares of outpatient mental health care provider LifeStance Health Group, Inc. (LFST) have fallen more than 49% Thursday morning following second quarter results.

Net loss in the second quarter was $70 million compared with net loss of $27.6 million for the period from April 1, 2020 to May 14, 2020 (Predecessor) and $4.3 million for the period from April 13, 2020 to June 30, 2020 (Successor).

Total revenue was $160.5 million in the second quarter, up 91% year over year primarily driven by a 94% increase in clinicians through both organic hiring and acquisitions.

Looking forward to the third quarter, the company expects revenue between $168 million and $173 million.

For the full year, the company sees revenue to be in the range of $668 million to $678 million.

LFST touched a new low of $10.71 this morning, before edging up to $11.17 currently.

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