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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.
On September 4, 2020, Castlight Health (CSLT) announced an equity inducement award to Vijay Anand, its new Executive Vice President of Engineering. The Compensation and Talent Committee granted Anand a stock option to purchase 1,178,000 shares and a restricted stock unit award for 760,870 shares, both tied to his employment. The option's exercise price is $1.19 per share, matching the closing price on September 3, 2020. Vesting will occur over four years, starting with 25% on the one-year anniversary of August 16, 2020.
Castlight Health (NYSE: CSLT) announced on September 1, 2020, that it has regained compliance with the NYSE's listing standards after exceeding the minimum average closing share price of $1.00 over 30 days. This compliance follows a notification received on March 30, indicating non-compliance due to low share price. CEO Maeve O'Meara highlighted the company’s commitment to healthcare navigation solutions, especially during the COVID-19 pandemic, referencing innovations like a COVID-19 testing site directory and a back-to-work support solution called Working Well.
Castlight Health, a leader in health benefits platforms, announced participation in two upcoming investor conferences. CFO Will Bondurant will speak at the 2020 Colliers Institutional Investor Conference on September 10, 2020. Additionally, CEO Maeve O'Meara and CFO Bondurant will present at the 2020 Cantor Global Virtual Healthcare Conference on September 17, 2020 at 10:40 AM ET. Interested parties can access a live audio webcast and presentation materials on the company's Investor Relations page.
Castlight Health, Inc. (NYSE: CSLT) has appointed Brian Marcotte, former President and CEO of Business Group on Health, as a strategic advisor. This addition is expected to bolster the company's growth following recent successes, including signing a new national health plan effective January 1, 2021. Marcotte will leverage his extensive experience to enhance Castlight's health navigation services and support employer benefits. The company has made significant strides during the pandemic, providing essential technology and services to health plans and employers.
Castlight Health (CSLT) reported its Q2 2020 financial results, revealing GAAP revenue at $35.5 million, slightly down from $35.9 million in Q2 2019. The GAAP gross margin improved to 64.1%, while non-GAAP gross margin reached 68.3%. The operating loss narrowed to $4.3 million, down from $8.6 million year-over-year. The company has a cash position of $44.3 million as of June 30, 2020. For 2020, Castlight anticipates revenues between $127 million and $135 million and expects a non-GAAP net loss per share between $0.11 and $0.16.
Castlight Health, a health benefits platform provider, will disclose its second quarter 2020 financial results on July 28, 2020, after market close. The management will hold a conference call at 5:00 p.m. Eastern Time to discuss financial performance. Interested parties can register for the conference call via the company website, and a live webcast will also be available. Castlight aims to simplify healthcare navigation for users, enhancing their ability to make informed decisions and improve healthcare outcomes.
On June 24, 2020, Castlight Health (NYSE: CSLT) launched Working Well for Higher Education, a comprehensive solution designed for academic institutions to manage safe campus re-entry amidst the COVID-19 pandemic. This platform allows universities to track health statuses of faculty, staff, and students through tools like symptom self-assessment, lab testing, and contact tracing. The system also features a real-time reporting dashboard to assist administrators in making informed decisions. It aims to address both physical safety and mental health concerns within academic environments.
