Predict your next investment

Corporation
INTERNET | Internet Software & Services / Healthcare
castlighthealth.com

See what CB Insights has to offer

Founded Year

2008

Stage

IPO | IPO

Total Raised

$178.06M

Date of IPO

3/14/2014

Market Cap

0.27B

Stock Price

1.60

Revenue

$0000 

About Castlight Health

Castlight Health, formerly Maria Health, provides a health care management suite designed to help employers make reliable cost and quality data for medical services available to employees via the Web or mobile devices. Castlight is a new category of cloud-based software that enables enterprises to gain control over their rapidly escalating health care costs. The company's Enterprise Healthcare Cloud allows customers to conquer the complexity of the existing health care system by providing personalized information to their employees, implementing technology-enabled benefit designs and integrating disparate systems and applications.

Castlight Health Headquarter Location

150 Spear Street Suite 400

San Francisco, California, 94105,

United States

415-829-1400

Latest Castlight Health News

16:05 ET Castlight Health Announces Third Quarter 2021 Results

Nov 2, 2021

Third Straight Quarter of Sequential ARR Growth News provided by Share this article Share this article SAN FRANCISCO, Nov. 2, 2021 /PRNewswire/ -- Castlight Health, Inc. (NYSE: CSLT ), a leading health navigation platform provider, today announced results for its third quarter ended September 30, 2021. "We delivered a solid third quarter reflecting continued progress across both our employer and health plan businesses," said Maeve O'Meara, chief executive officer of Castlight Health. "This quarter our team produced our highest direct-to-employer bookings in over three years, which led to our third straight quarter of sequential ARR growth, and our health plan pipeline grew substantially in  Q3. The momentum we are seeing is a direct result of the strong product-market fit of our next generation navigation solution that seamlessly blends technology and service to produce results for our customers." Financial performance for the three months ended September 30, 2021 compared to the three months ended September 30, 2020 includes: Total revenue of $34.8 million, compared to $35.1 million GAAP gross margin of 66.2%, compared to 66.1% Non-GAAP gross margin of 69.1%, compared to 69.0% GAAP operating loss of $1.9 million, compared to $0.5 million Non-GAAP operating income of $2.5 million, compared to $3.7 million GAAP net loss per basic and diluted share of $0.01, compared to a net loss per basic and diluted share of $0.00 Non-GAAP net income per basic and diluted share of $0.01, compared to net income per basic and diluted share of $0.02 Cash provided by operations of $5.8 million, compared to $2.7 million Total cash was $65.8 million as of September 30, 2021. A reconciliation of GAAP to non-GAAP results has been provided in this press release in the accompanying tables. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures." Business Outlook Revenue in the range of $135 million to $140 million Non-GAAP operating loss of $4 million to income of $1 million Non-GAAP loss per share of $0.03 to income of $0.01, based on approximately 160 million shares For the fourth quarter of 2021, the Company expects: Revenue in the range of $33 million to $35 million Quarterly Conference Call Castlight Health senior management will host a conference call to discuss its third quarter 2021 results and business outlook today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). A live audio webcast of the conference call, together with detailed financial information, can be accessed through the Company's Investor Relations website at http://ir.castlighthealth.com . An archive of the webcast can also be accessed through the same link. The live conference call can be accessed by dialing (833) 238-7953 and the replay will be available for one week at (800) 585-8367. The conference ID number for the live call and replay is 7079838. About Castlight Health Castlight is on a mission to make it as easy as humanly possible for people to navigate the healthcare system and live happier, healthier, more productive lives. As a leader in healthcare navigation, we provide a world-class digital platform with a team of clinical and benefits experts to help members easily connect and engage with the right programs and care, at the right time. Castlight partners with Fortune 500 companies and health plans to transform employee and member benefits into one comprehensive health and wellbeing experience to deliver better health outcomes and maximize returns on healthcare investments. For more information visit www.castlighthealth.com . Follow us on Twitter and LinkedIn and Like us on Facebook. Non-GAAP Financial Measures To supplement Castlight Health's financial statements presented in accordance with generally accepted accounting principles (GAAP), we also use and provide investors and others with non-GAAP measures of certain components of financial performance, including non-GAAP gross profit and margin, non-GAAP operating expense, non-GAAP operating income (loss), non-GAAP net income (loss) and non-GAAP net income (loss) per share. Non-GAAP gross profit and margin, non-GAAP operating expense, non-GAAP operating income (loss), and non-GAAP net income (loss) exclude goodwill impairment, stock-based compensation, certain legal expenses, amortization of intangibles, restructuring charges, capitalization and amortization of internal-use software, and lease exit and related charges. We believe that these non-GAAP financial measures provide useful supplemental information to investors and others, facilitate the analysis of the company's core operating results and comparison of operating results across reporting periods, and can help enhance overall understanding of the company's historical financial performance. However, these non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, measures prepared in accordance with GAAP. The non-GAAP measures we provide may differ from the non-GAAP information used by other companies, including peer companies, and therefore comparability may be limited. Castlight Health encourages investors and others to review the Company's financial information in its entirety and not rely on a single financial measure. We have provided a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure, except that we have not reconciled our non-GAAP operating loss and net loss per share guidance for the full year 2021 to comparable GAAP measures because we do not provide guidance for stock-based compensation expense, and capitalization and amortization of internal-use software, which are reconciling items between GAAP and non-GAAP. The factors that may impact our future stock-based compensation expense, and capitalization and amortization of internal-use software, are out of our control and/or cannot be reasonably predicted, and therefore we are unable to provide such guidance without unreasonable effort. Factors include our market capitalization and related volatility of our stock price and our inability to project the cost or scope of internally produced software. Safe Harbor for Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "seeks," "estimates," "can," "may," "will," "would" and similar expressions identify such forward-looking statements. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. The forward-looking statements about Castlight Health's expectations, plans, intentions, and strategies include, but are not limited to, statements regarding certain 2021 financial projections, and our expectations for our future business and financial performance. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Castlight Health's documents filed with or furnished to the Securities and Exchange Commission, including the risks set forth in our annual report on Form 10-K for the year ended December 31, 2020 as filed with the SEC on February 24, 2021, and our quarterly reports on Form 10-Q, including the quarterly report for the three months ended September 30, 2021, when filed with the SEC. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements and are based on information available to Castlight Health as of the date hereof. Castlight Health assumes no obligation to update these forward-looking statements, except as required by law. Copyright 2021 Castlight Health, Inc. Castlight Health® is the registered trademark of Castlight Health, Inc. Other company and product names may be trademarks of the respective companies with which they are associated.

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Research containing Castlight Health

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Castlight Health in 2 CB Insights research briefs, most recently on Apr 13, 2021.

Expert Collections containing Castlight Health

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Castlight Health is included in 5 Expert Collections, including HR Tech.

H

HR Tech

3,964 items

HR tech startups are helping companies manage critical pain points in HR processes such as recruitment, automation, career development, compensation, and benefits management, through a mix of software and services.

C

Conference Exhibitors

5,501 items

HLTH is a healthcare event bringing together startups and large companies from pharma, health insurance, business intelligence, and more to discuss the shifting landscape of healthcare

I

InsurTech

1,644 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

F

Fintech

7,165 items

US-based companies

H

Health Plans & Benefits Management

698 items

Companies developing or offering digital platforms and services, including online insurance marketplaces, data analytics for claims adjustment, benefits administration, and payments systems, that help make private health insurance more affordable, navigable, or transparent.

Castlight Health Patents

Castlight Health has filed 2 patents.

The 3 most popular patent topics include:

  • Data management
  • Evolutionary algorithms
  • Genetic algorithms
patents chart

Application Date

Grant Date

Title

Related Topics

Status

8/3/2017

10/19/2021

Genetic algorithms, Data management, Mathematical optimization, Evolutionary algorithms, Machine learning

Grant

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

Application Date

8/3/2017

00/00/0000

Grant Date

10/19/2021

00/00/0000

Title

Subscribe to see more

Related Topics

Genetic algorithms, Data management, Mathematical optimization, Evolutionary algorithms, Machine learning

Subscribe to see more

Status

Grant

Subscribe to see more

Castlight Health Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Castlight Health Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.