– Livongo reports Q2 19 total revenue of $40.9 million, up 156% year-over-year
– 192,934 enrolled Livongo for Diabetes Members, up 140% year-over-year with 38,170 new Livongo for Diabetes Members in Q2
– Total Contract Value of $74.2 million, up from $24.8 million in the second quarter of 2018.
Livongo Health, Inc. (NASDAQ: LVGO), an Applied Health Signals company empowering people with chronic conditions to live better and healthier lives, today announced financial results for its second quarter ended June 30, 2019. The company reported total revenue for the Q2’19 was $40.9 million, up 156% year-over-year, with a GAAP gross margin of 68.5% and non-GAAP gross margin of 69.4%.
Other Q2’19 financial, clinical, and member highlights include:
– Net Loss: GAAP net loss of $14.2 million, and net loss per share attributable to common stockholders of ($0.76) on a diluted basis; and non-GAAP net loss of $8.7 million, and non-GAAP net loss per share attributable to common stockholders of ($0.46) on a diluted basis.
– Adjusted EBITDA: ($8.1) million in the second quarter of 2019.
– 192,934 enrolled Livongo for Diabetes Members, up approximately 140% year-over-year.
– 720 Clients, up 92% year-over-year organically.
– Total Contract Value of $74.2 million, up from $24.8 million in the second quarter of 2018.
Third Quarter and Fiscal 2019 Outlook
– For the third quarter, the company expects revenue in the range of $42 million and $43 million, and adjusted EBITDA in the range of ($13) million and ($12) million.
– For 2019, the company expects revenue in the range of $159 million and $162 million, and adjusted EBITDA in the range of ($41) million and ($39) million.
“Our impressive second-quarter results reflect the growing appeal of our Applied Health Signals platform,” said Zane Burke, Chief Executive Officer of Livongo. “Livongo delivers a novel, consumer-first experience that our Members don’t just like, but love. This leads to clinical outcomes for our Members at scale, lower costs for our Clients, and a compelling return on investment.”
