Coronavirus Pandemic Propels User Growth for Livongo Health
Shares of Livongo Health (NASDAQ: LVGO), maker of remote patient-monitoring solutions, soared 12% to an all-time high Thursday after the company reported first-quarter results. Revenue grew 115% to $68.8 million, better than the preliminary results of $65.5 million to $66.5 million that the company released a month ago.
GAAP net loss was $5.6 million, or $0.06 per share, as compared to a $14.4 million loss in the period a year ago. Excluding amortization, some one-time tax charges, and over $8 million in stock compensation expense, the company had non-GAAP earnings of $0.03, while analysts were expecting a loss on that basis.
Livongo makes a virtual-care platform that enables remote monitoring of patients with chronic health problems. Its smartphone-based software collects information from wirelessly connected monitors, provides information to patients, and connects them to health coaches and medical professionals. The company has partnered with DexCom for blood glucose monitoring in diabetes patients and connects to blood-pressure monitors for patients with hypertension (high blood pressure).
Source Fool.com
