A potential recession could be a boost to LifeStance Health, CEO Dave Bourdon told investors.
On a May 7 earnings call, Mr. Bourdon told investors the Scottsdale, Ariz.-based behavioral health company’s model is “resilient to economic cycles” and could even benefit from economic uncertainty.
“For example, in a period of economic uncertainty, when individuals experience greater stress and anxiety, they may benefit from mental healthcare, and this could result in increased demand for services,” he said.
Mr. Bourdon said cash-pay mental health providers will be hardest hit by a recession, which could drive patients and providers “into the insurance environment.”
The company recorded its first-ever profitable quarter in its first-quarter earnings report for 2025, posted May 7
The company currently operates in 33 states. Mr. Bourdon said LifeStance could use acquisitions to expand into new markets and add new capabilities, including digital therapeutics and specialty services.
“I want to reinforce that our primary growth driver is organic, and I think of M&A as complementary. We’re going to be very disciplined, and it’s got to make sense financially,” Mr. Bourdon said.