LifeStance is one of the nation's largest providers of virtual and in-person outpatient mental health care. At the time of its IPO, the Company operated 370 centers and employed 3,300 psychiatrists, advanced practice nurses, psychologists, and therapists across 27 states. The Company provides virtual and in-person outpatient mental health care for children, adolescents, and adults experiencing a variety of mental health conditions including depression, anxiety disorder, schizophrenia, and post-traumatic stress disorder. The Company benefitted from the state and local lockdown orders necessitated by the COVID-19 pandemic starting in the spring of 2020. However, by December 2020, several COVID-19 vaccines were being approved and administered, meaning LifeStance's access to clients seeking virtual mental health services would significantly decline while demand for in-person services would increase.