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Castlight Health announced that CFO Will Bondurant will participate in the Needham 16th Annual Virtual Technology & Media Conference on May 18, 2021, at 11:00 am ET. The event will include a presentation, with materials accessible via the company's Investor Relations page. Castlight aims to simplify healthcare navigation through its digital platform, collaborating with Fortune 500 companies to enhance employee benefits and health outcomes.
Castlight Health, Inc. (NYSE: CSLT) announced the appointment of Erik Sossa as a strategic advisor. Sossa brings over 24 years of HR benefits experience, previously serving as Vice President of Global Benefits and Wellness at PepsiCo. He will guide Castlight's product and market strategy, focusing on enhancing health navigation solutions for employers amidst a shifting workforce landscape. CEO Maeve O'Meara expressed excitement about his collaboration, highlighting the importance of adapting healthcare solutions for a diverse, remote workforce.
Castlight Health, Inc. (NYSE:CSLT) announced Q1 2021 results revealing total revenue of $35.1 million, down from $39.0 million in Q1 2020. The company achieved a 63.6% GAAP gross margin and reported a non-GAAP operating income of $1.2 million. Noteworthy highlights include the lowest churn rate since 2016, expansion of a health plan partnership, and the launch of a vaccine navigation solution. Castlight raised its financial outlook for 2021, now projecting revenue between $135 million and $140 million.
Castlight Health, Inc. (NYSE:CSLT) will release its first quarter 2021 financial results on April 29, 2021, after market close. A conference call with senior management is scheduled for 5:00 p.m. ET to discuss the financial performance. Interested parties can join the live call at (833) 238-7953, with a replay available for one week post-call. Castlight is dedicated to enhancing healthcare navigation, partnering with Fortune 500 companies to provide an integrated health and wellbeing experience, aiming for better health outcomes and returns on healthcare investments.
Castlight Health (CSLT) has announced the appointment of Frank Jennings as Senior Vice President and Chief Sales Officer. With over 25 years of sales and business development experience, Jennings previously held leadership positions at Covera Health and Doctor on Demand. His return is seen as a strategic move to enhance the company's executive team and capitalize on the growing demand for digital health navigation solutions. This addition follows other key hires, aiming to strengthen Castlight's position in the healthcare market.
A recent study by Castlight Health revealed a significant decline in preventative cancer screenings during the early COVID-19 pandemic, with mammography rates dropping by 96% and colorectal screenings by 95% in March-April 2020. However, by the end of July 2020, screening rates rebounded to near pre-pandemic levels, with mammograms at 88.2 per 10K population. The study emphasizes the need for healthcare systems to prioritize patients who deferred screenings and highlights an ongoing opportunity for employers to encourage preventative care among employees, particularly those at higher risk.
Castlight Health (NYSE: CSLT) announced the addition of three new clinical advisors: Dr. Bruce Sherman, Dr. Justin Mohatt, and Dr. Mohannad Kusti. These experts will guide Castlight in enhancing clinical care for vulnerable populations, evaluating provider clinical quality, and assessing outcomes of interventions. Their expertise aims to deliver strategic value to Fortune 500 employers and health plans, focusing on health equity and workforce productivity. CEO Maeve O'Meara expressed excitement about their potential impact on Castlight's healthcare navigation solutions.
Castlight Health will participate in the Cowen 41st Annual Health Care Conference with CEO Maeve O'Meara and CFO Will Bondurant on March 4, 2021, at 10:30 am ET. The webcast and presentation materials will be available on the Investor Relations section of www.castlighthealth.com. Castlight is focused on simplifying healthcare navigation, connecting users to resources for better-informed decisions, and improving healthcare outcomes.
