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Tag: CSLT stock

  • Why Castlight Health Inc. (CSLT) turnaround in the after-hours on Tuesday?

    Castlight Health Inc. (CSLT) shares soared 6.75% in after-hours on Tuesday, July 6, 2021, and closed at $2.53 per share. Earlier in the morning session on Tuesday, CSLT’s stock lost 2.87% to close Tuesday’s morning session at $2.37 per share. CSLT shares have risen 191.41% over the last 12 months, and they have moved up 3.95% in the past week. Over the past three months, the stock has gained 49.06%, while over the past six months, it has lost 82.31%.

    Let’s have a look at its recent news.

    Impact of social determinants of health

    On June 16, 2021, Castlight Health, Inc announced the results of a new study on the impact of social determinants of health (SDoH) factors on workforce health. The results were published in the Journal of Primary Care and Community Health.

    The study found that 27 percent of more than five million commercially insured people live in a zip code where the median income is at or below 200 percent of the Federal Poverty Level (FPL).

    Participation in the recent investor conference

    The senior management of Castlight Health recently participated in the William Blair 41st Annual Growth Stock Conference which held on June 3, 2021. The company’s management had one-on-one meetings with investors.

    Earlier the company’s chief financial officer, Will Bondurant presented the company at the Needham 16th Annual Virtual Technology & Media Conference which held on Tuesday, May 18, 2021.

    Castlight Health’s Navigation solution helping employees in reducing medical bills

    On May 24, 2021, Castlight Health, Inc announced the results of a study by actuarial firm Santa Barbara Actuaries Inc. (SBA), which found that employers who implemented Castlight’s navigation solution experienced significant financial savings, including a 9.1% year-over-year reduction in medical spend among members who use Castlight compared to a matched control group.

    New appointment

    On May 6, 2021, Castlight Health, Inc appointed Erik Sossa, former vice president of Global Benefits and Wellness at PepsiCo, as a strategic advisor. Sossa brings decades of HR benefits and industry experience to Castlight’s market-leading health navigation solution that helps power America’s largest employers.

    Recent financial results announcement

    On April 29, 2021, Castlight Health, Inc released its financial results for its first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Castlight Health reported revenue of $35.1 million in Q1 2021 compared to $39.0 million in Q1 2020.
    • Total operating expenses were $25.4 million in Q1 2021 compared to $81.2 million in Q1 2020.
    • The GAAP-Gross margin was 63.6% in Q1 2021 compared to 62.9% in Q1 2020.
    • The company suffered an operating loss of $3.1 million in Q1 2021, compared to $56.6 million in Q1 2020.
    • In Q1 2021, GAAP net loss per basic and diluted share was $0.02compared to a net loss per basic and diluted share of $0.38 in Q1 2020.
    • As of March 31, 2021, the company had total cash of $56.5 million.

    Conclusion

    As of this writing, there is no recent news or development which could be the reason behind its early loss and later gains on Tuesday. We hope that CSLT stock will perform well in the coming days.

  • Castlight Health Inc. (CSLT) stock rises during pre-market trading. What’s happening?

    Castlight Health Inc. (CSLT) stock rises during pre-market trading. What’s happening?

    Castlight Health Inc. (NASDAQ: CSLT) stock showed a gain of 8.38% in the last trading session while in pre-market trading on Monday the CSLT stock was up by 2.21%. There isn’t any recent news hitting the media related to this change in CSLT stock. Castlight Health is a healthcare navigation company that provides comparison tools and quality indicators for tests and procedures provided by healthcare providers. This platform is authorized by a business-to-business-based model.

    Recent Developments

    On March 4, CSLT announced the addition of three new clinical advisors in their team.

    • Bruce Sherman, M.D has been appointed as the advisor to the National Alliance of Healthcare Purchaser Coalitions.
    • The position of vice chair and director, Division of Child Psychiatry at Weill Cornell Medicine, has been given to Justin Mohatt.
    • Lastly Mohannad kusti has been declared as regional medical director at Pivot Onsite Innovations.

    It is believed that these new clinical advisors will be of great support for the reputation and efficient working of CSLT. They are expected to provide guidance in various areas which include instructions for the clinical care of unprotected population, best practices for measuring provider clinical efficiency, and robust methodologies for determining the results of our interventions.

    Another significant development made by Castlight Health is their new COVID-19 vaccine navigation feature installed directly into the Castlight app. It is expected that COVID-19 vaccine availability will increase in the coming months, the new feature is made to provide employers with a simple, centralized resource that allows workers to manage COVID-19 vaccine eligibility and availability, as well as access important educational content aimed at enhancing vaccine literacy.

    Financial Results 2020

    On February 23, Castlight Health announced its financial results for the year 2020. According to the CEO of CSLT, Castlight has delivered promising financial results in the year 2020 and has achieved several significant goals that includes adding a new health plan customer and Blue Cross Blue Shield of Alabama. In December Castlight sealed a partnership with Boston Children’s Hospital with the idea to support the national vaccination effort, and also delivering strong results from our first year live with Care Guides. To give an example, GAAP total revenue generated by Castlight was $37.1 for the fourth quarter 2020 as compared to $36.4 for the same period in 2019. This clearly shows that CSLT has managed to make better progress in 2020 compared to the previous year.