Livongo Announces Preliminary Second Quarter 2020 Revenue; Exceeds Previously Announced Guidance
07 Julho 2020 - 8:00AM
Livongo Health, Inc., (Nasdaq: LVGO) today announced a preliminary
financial result for the second quarter of fiscal year 2020.
Livongo now expects revenue for the second
quarter of 2020 to be in the range of $86 million to $87 million,
up from prior guidance of $73 million to $75 million. The updated
revenue outlook includes approximately $2 million to $3 million of
items that management considers non-recurring or one-time in
nature. This financial result for the second quarter of fiscal 2020
is preliminary and subject to change in connection with the
completion of the company’s quarter-end closing process and the
preparation of the unaudited financial statements for the second
quarter of 2020.
“Livongo’s momentum coming into the second
quarter has continued, and we believe is attributed to our unique
ability to deliver measurable and proven clinical and financial
results at scale. The COVID-19 pandemic has only magnified
the need for Livongo’s solutions, which goes well beyond remote
monitoring and video visits to generate consumer directed virtual
care,” said Zane Burke, Chief Executive Officer of Livongo. “The
largest, most innovative employers and health plans are continuing
to select Livongo due to our whole person approach to care which is
accelerating our growth. Investments made in our data science
capabilities are paying off in stronger than expected enrollment
and Member retention as revealed by this quarter’s
revenues.”Livongo management will hold a conference call on
Thursday, August 6, 2020, at 4:30 p.m. Eastern Time to discuss
results for the second quarter ended June 30, 2020 and forward
guidance, which will also be issued in a press release after close
of the U.S. stock market.
All interested parties may dial 270-215-9499 and
reference “Livongo” or Conference ID 7286217 to listen to the
quarterly conference call. Participants may join the webcast here.
A replay of the call will be available via webcast for on-demand
listening shortly after completion of the call on the Investor
Relations section of the company’s website, www.livongo.com, and
will remain available for approximately 90 days.
About Livongo
Livongo empowers people with chronic conditions
to live better and healthier lives, beginning with diabetes and now
including hypertension, weight management, diabetes prevention, and
behavioral health. Livongo pioneered the category of Applied Health
Signals to offer Members clinically-based insights that focus on
the whole person and make it easier to stay healthy. Using its
AI+AI engine, Livongo’s team of data scientists aggregate and
interpret substantial amounts of health data and information to
create actionable, personalized and timely health signals delivered
to Livongo Members exactly when and where they need them. The
Livongo approach delivers better clinical and financial outcomes
while creating a different and better experience for people with
chronic conditions. For more information, visit: www.livongo.com or
engage with Livongo on LinkedIn or Twitter.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Forward-looking statements generally relate to
future events or Livongo’s future financial or operating
performance. In some cases, you can identify forward looking
statements because they contain words such as “may,” “will,”
“should,” “expects,” “plans,” “anticipates,” “going to,” “could,”
“intends,” “target,” “projects,” “contemplates,” “believes,”
“estimates,” “predicts,” “potential” or “continue” or the negative
of these words or other similar terms or expressions that concern
Livongo’s expectations, strategy, priorities, plans or intentions.
Forward-looking statements in this release include, but are not
limited to, statements regarding Livongo’s ability to grow and
expand its platform, number of clients, number of members, and
anticipated enrollment rates, Livongo’s ability to provide a
world-class health and care experience for members during the
COVID-19 pandemic, Livongo’s expectations regarding pipeline
demand, and Livongo’s future financial and operating performance,
including its anticipated revenue for the second quarter of fiscal
2020. Livongo’s expectations and beliefs regarding these matters
may not materialize, and actual results in future periods are
subject to risks and uncertainties that could cause actual results
to differ materially from those projected, including risks
regarding Livongo’s ability to retain clients and sell additional
solutions to new and existing clients, Livongo’s ability to attract
and enroll new members, the growth and success of Livongo’s
partners and reseller relationships, Livongo’s ability to estimate
the size of its target market, uncertainty in the healthcare
regulatory environment, the impact of the COVID-19 pandemic on
Livongo’s business and general economic conditions, and Livongo’s
future financial performance, including trends in revenue, costs of
revenue, gross profit or gross margin, operating expenses, paying
clients, and free cash flow. The forward-looking statements
contained in this release are also subject to other risks and
uncertainties, including those more fully described in Livongo’s
filings with the Securities and Exchange Commission, including
Livongo’s Quarterly Report on Form 10-Q for the quarter ended March
31, 2020. Livongo’s SEC filings are available on the Investor
Relations section of Livongo’s website at ir.livongo.com and on the
SEC’s website at www.sec.gov. The forward-looking statements in
this release are based on information available to Livongo as of
the date hereof, and Livongo disclaims any obligation to update any
forward-looking statements, except as required by law.
Investor Contact:Jason
PlagmanInvestor-relations@livongo.com 785-550-6048
Media Contact:John
HallockPress@livongo.com617-615-7712
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