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Castlight Health (CSLT) announced the appointment of Scott Serota, former president and CEO of the Blue Cross Blue Shield Association, as an executive advisor. Serota brings over 20 years of experience, having led initiatives that improved healthcare access for 107 million Americans. His role will focus on product and market strategy, aimed at accelerating growth in Castlight's health plan market segment. CEO Maeve O'Meara expressed confidence in Serota's strategic guidance to enhance the company's position as a healthcare navigation partner.
Castlight Health (CSLT) announced its fourth quarter and full-year results for 2020, showcasing its best financial performance in history. In Q4, total revenue reached $37.1 million, a slight increase from $36.4 million in Q4 2019. The company achieved a GAAP gross margin of 65.2% and non-GAAP gross margin of 68.0%. Noteworthy achievements include adding a new customer, Blue Cross Blue Shield of Alabama, and a partnership with Boston Children's Hospital. For 2021, revenue is projected between $130 million and $135 million.
Castlight Health (NYSE: CSLT) will release its Q4 and full year 2020 financial results on February 23, 2021, post-market. A conference call with senior management is scheduled for 5:00 PM ET on the same day to discuss the financial performance. The call can be accessed at (833) 238-7953. A replay will be available starting at 8:00 PM ET that day. Castlight aims to simplify healthcare navigation for users and partners with Fortune 500 companies to enhance employee benefits and health outcomes.
Castlight Health (NYSE:CSLT) announced that CFO Will Bondurant will present at the 23rd Annual Needham Virtual Growth Conference on January 13, 2021, at 4:15 PM ET. Attendees can access the webcast and presentation materials on Castlight's Investor Relations page. The company aims to simplify healthcare navigation, connecting users with various health resources tailored to individual needs, enhancing their healthcare experience and outcomes.
Castlight Health (NYSE:CSLT) will present at the Piper Sandler 32nd Annual Virtual Healthcare Conference on December 3, 2020. CEO Maeve O'Meara and CFO Will Bondurant will engage with investors through presentations and one-on-one meetings. Interested parties can access the audio link through the Investor Relations section of www.castlighthealth.com.
Castlight aims to simplify healthcare navigation, connecting users to various health resources for better informed decisions and improved healthcare outcomes.
Castlight Health, Inc. (NYSE:CSLT) reported its third-quarter results for 2020, achieving a GAAP revenue of $35.1 million, slightly down from $35.5 million in the prior year. The company improved its GAAP gross margin to 66.1%, up from 59.1%. Notably, Castlight posted a GAAP operating loss of $0.5 million, a significant improvement from a $9.6 million loss in Q3 2019. The company is optimistic, increasing its 2020 revenue outlook to $140-$143 million. Cash provided by operations reached $2.7 million, compared to cash used in operations of $7.4 million last year.
Castlight Health (CSLT) announced a comprehensive study revealing a dramatic decline in healthcare utilization during the COVID-19 pandemic. Coverage showed a 23% decline in March and 52% in April 2020, particularly in preventive care, such as a 70% drop in colonoscopies and a 67% decrease in mammograms. While telemedicine usage surged over 4,000%, a significant number of primary care needs went unmet. The study emphasizes the risks to employee health and productivity, indicating potential downstream effects on healthcare costs due to delayed diagnoses.
Castlight Health (NYSE:CSLT) announced that CEO Maeve O'Meara and CFO Will Bondurant will present at the 29th Annual Credit Suisse Virtual Healthcare Conference on November 11, 2020, at 1:15 PM ET. The presentation will be accessible via a live audio-only webcast through the Investor Relations section of Castlight Health's website. This event showcases the company's ongoing commitment to enhance the healthcare experience for users by connecting them to essential resources and benefits.
Castlight Health (NYSE: CSLT) announced the appointment of three executives: Richa Gupta as Chief People Officer, Vijay Anand as Executive Vice President of Engineering, and Angel Rosa as Senior Vice President of Customer Experience. These leaders bring over 60 years of combined experience in technology and healthcare. Gupta aims to enhance talent strategies and culture for a workforce supporting 20 million insured lives. Anand will implement a technology strategy leveraging AI and machine learning, while Rosa will focus on improving customer experience across the U.S.
Castlight Health (NYSE:CSLT) will release its third quarter 2020 financial results on November 5, 2020, after market close. A conference call led by senior management will take place at 5:00 p.m. ET to discuss the financial performance. Investors can access the live call at (833) 238-7953, with a replay available for a week starting at 8:00 p.m. ET on the same day. Castlight focuses on simplifying healthcare navigation for users, connecting various health vendors and resources for improved outcomes.
