Livongo Health, Inc., today announced that it has publicly filed a registration statement for a proposed initial public offering (IPO) of its common stock, according to the U.S. Securities and Exchange Commission (SEC) filing. Livongo has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “LVGO.”
Livongo Growth Metrics
Founded in 2014, Livongo offers an integrated suite of solutions to promote sustainable health behavior change based on easy, real-time data capture supported by intuitive devices; insights driven by data science; and a human touch when the member needs it. Livongo’s solutions include diabetes management, hypertension, prediabetes, and weight management, and behavioral health. As of March 31, 2019, Livongo has 679 clients and over 164,000 Livongo for Diabetes members including a number of members enrolled in their hypertension, prediabetes and weight management, and behavioral health solutions.
Livongo Revenue
The company reported $30.9M and $68.4M in revenue for the years ended December 31, 2017, and 2018, respectively, representing a year-over-year growth rate of 122%. Their revenue increased from $12.5M for the three months ended March 31, 2018, to $32.1 million for the three months ended March 31, 2019, representing a year-over-year growth rate of 157%.
In addition, the company incurred net losses of $16.9M and $33.4M for the years ended December 31, 2017, and 2018, respectively. Their net loss also increased from $4.2M for the three months ended March 31, 2018 to $15.0 million for the three months ended March 31, 2019. As of March 31, 2019, Livongo reported an accumulated deficit of $128.6M.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC will serve as lead joint book-running managers for the proposed offering. Piper Jaffray & Co. and SVB Leerink LLC will serve as lead co-managers and Canaccord Genuity LLC, KeyBanc Capital Markets Inc. and Needham & Company, LLC will serve as co-managers for the proposed offering.
