The article analyzes the relationship between the theory of a firm's life cycle and the concept of sustainable development of a company and the possibilities of using the theory of a firm's life cycle during the implementation of the concept of sustainable development by a firm. The authors identified common features of the two theories, their consistency and practical applicability. The article examines two approaches to identifying the stage of a firm's life cycle, identifies their advantages and disadvantages, and describes the main directions of implementing the concept of sustainable development at different stages of a firm's life cycle. The authors define the main features of the optimal trajectory of the life cycle and the sequence of changes in the profile of the business culture of firms whose main activity is the development of innovations, and also show the universal nature of the key provisions of the theory of a firm`s life cycle and the concept of sustainable development of a company.