Castlight Health (CSLT) Misses Q4 EPS by 2c, Revenues Beat; Offers FY20 EPS Guidance Below Consensus, FY20 Revenue Mid-Point Outlook Below Consensus

Castlight Health (NYSE: CSLT) reported Q4 EPS of ($0.05), $0.02 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $36.4 million versus the consensus estimate of $35.39 million.

Financial performance for the three months ended December 31, 2019 compared to the three months ended December 31, 2018 includes:

• GAAP total revenue of $36.4 million, compared to $42.1 million
• GAAP gross margin of 55.3%, compared to 65.0%
• Non-GAAP gross margin of 57.8%, compared to 68.0%
• GAAP operating loss of $12.2 million, compared to $3.8 million
• Non-GAAP operating loss of $8.1 million, compared to income of $1.6 million
• GAAP net loss per basic and diluted share of $0.08, compared to a net loss per basic and diluted share of $0.03
• Non-GAAP net loss per basic and diluted share of $0.05, compared to a net income per basic and diluted share of $0.01
• Cash provided by operations of $4.0 million, compared to $7.5 million

"In the fourth quarter, we continued our momentum with execution against our top priorities, including: the launch of the Castlight Care Guides high-touch pilot, the hire of our chief commercial officer, industry veteran Keith Reynolds, and the pipeline development and advancement by our new dedicated health plan team," said Maeve O'Meara, chief executive officer at Castlight Health. "The work we've done over the last two quarters provides a solid foundation for the Company to execute on our two-prong strategy of revitalizing our employer business while unlocking new growth vectors, starting with health plans."

GUIDANCE:

Castlight Health sees FY2020 EPS of ($0.15)-($0.12), versus the consensus of ($0.10). Castlight Health sees FY2020 revenue of $130-135 million, versus the consensus of $134.83 million.

• GAAP revenue between $130 million and $135 million
• Non-GAAP operating loss between $17 million and $22 million
• Non-GAAP net loss per share between $0.12 and $0.15, based on approximately 150 million to 151 million shares

For earnings history and earnings-related data on Castlight Health (CSLT) click here.

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