Castlight Health total revenue up 339% year over year

Castlight Health, Inc. (NYSE: CSLT) reported first quarter 2014 total revenue was USD8.4m, an increase of 339 percent from the first quarter of 2013.

Subscription revenue was USD7.5m, an increase of 329 percent on a year-over-year basis. Professional services revenue was USD0.9m, an increase of 443 percent compared with the same period last year.

Gross margin for the first quarter of 2014 was 21.4 percent, compared to a gross loss of 70.8 percent in the first quarter of 2013. Non-GAAP gross margin for the first quarter of 2014 was 23.1 percent compared to a gross loss of 69.2 percent in the first quarter of 2013.

Operating loss for the first quarter of 2014 was USD24.3m, compared to an operating loss of USD11.5m during the first quarter of 2013. Non-GAAP operating loss for the first quarter of 2014 was USD19.3m, compared to a non-GAAP operating loss of USD11.1m during the first quarter of 2013.

Founded in 2008, San Francisco-based Castlight makes healthcare data actionable, empowering our enterprise customers to gain control over their healthcare spending and transforming how companies and employees engage in healthcare. For more information visit www.castlighthealth.com.

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