Castlight Health Inc (NYSE:CSLT) reported fourth quarter and full-year 2014 numbers and showed strong growth across the board. Revenues for the quarter were $14.5 million. That is an increase of 182% over the same period last year. Subscription revenue grew to $13.3 million and that was appositive change of 188% over last year. Gross margins came in at 54%. That was a huge turnaround as the same quarter in 20913 the company had a negative margin. Operating losses came in at $19.7 million which was a small improvement over the same period last year. Net loss per share was 22 cents. That was a huge improvement as in the same quarter of 2013 the company saw a negative EPS of $1.90.
Full Year Results
Revenues for the full 2014 period came in at $45.6 million. That’s an increase of 257% over 2013. Subscription revenue was increased by 257% also and came in at $41.6 million. Gross margins for the year completed a turnaround from the negative range and posted at 39.1%. The operating loss grew to $86 million compared to $62 million in 2013. Despite the bottom line loss, the company ended the year with 168 customers. 45of those are fortune 500 firms. This gives promise to 2015 as Castlight Health Inc (NYSE:CSLT) looks to capitalize on the strong revenue growth it has been experiencing.
Castlight Health Inc (NYSE:CSLT) also announced it will present at the Stifel Technology conference. The conference will be held in San Francisco and will feature the top company’s in the industry. This is prime exposure for Castlight and it gives its products a great showcase for investors and potential customers. Many industry professionals will be attending and that includes some of the hottest technology in the segment.
The stock suffered a heavy sell off when it missed on the bottom line number. This was despite growing revenues and subscriptions in every aspect of the operations. A lot of technical damage has been done and there is no precedent for support at any level right now.