Castlight Health (CSLT) Financials

$523.8 M

Mkt cap, 25-May-2018

$36.5 M

Revenue Q1, 2018
Gross profit (Q1, 2018)21.5 M
Gross profit margin (Q1, 2018), %59%
Net income (Q1, 2018)-14.4 M
EBIT (Q1, 2018)-14.6 M
Cash, 31-Mar-201848.2 M

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

45.6 m75.3 m101.7 m131.4 m

Revenue growth, %

65%35%29%

Cost of goods sold

27.8 m33.8 m34.6 m47.2 m

Gross profit

17.8 m41.5 m67.1 m84.2 m

Gross profit Margin, %

39%55%66%64%

Sales and marketing expense

62.1 m67.4 m58.8 m

R&D expense

22.9 m30.1 m40.5 m54.5 m

General and administrative expense

19 m24.3 m26.9 m28.8 m

Operating expense total

104 m121.8 m126.1 m145.6 m

EBIT

(86.2 m)(80.2 m)(59 m)(61.4 m)

EBIT margin, %

(189%)(107%)(58%)(47%)

Pre tax profit

(60.8 m)

Income tax expense

5.2 m

Net Income

(85.9 m)(79.9 m)(58.5 m)(55.6 m)

Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

17.4 m19.2 m48.7 m61.3 m

Accounts Receivable

11.1 m12.8 m14.8 m20.8 m

Current Assets

210.7 m142.4 m141 m124.5 m

PP&E

3.6 m6.9 m5.3 m5.3 m

Goodwill

91.8 m

Total Assets

223.3 m173.3 m157.2 m249.3 m

Accounts Payable

3.2 m3.4 m2.3 m3.9 m

Current Liabilities

40.2 m46 m48.7 m60.4 m

Total Liabilities

55.2 m74 m

Additional Paid-in Capital

393.4 m415.5 m457.6 m586.9 m

Retained Earnings

(217.2 m)(297.1 m)(355.6 m)(411.6 m)

Total Equity

176.2 m118.4 m102 m175.3 m

Financial Leverage

1.3 x1.5 x1.5 x1.4 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

180.1 m35.3 m25.2 m27 m31.5 m25.7 m35.1 m40.7 m55.1 m56.2 m62.2 m45 m48.2 m

Accounts Receivable

6.3 m10.4 m11.3 m10.5 m11 m13.6 m14 m12.5 m15.9 m16.5 m21.4 m26 m

Current Assets

231.3 m176.2 m200.2 m203.4 m185.4 m169.8 m143.5 m149.4 m144 m132.1 m131.8 m126.6 m111.4 m

PP&E

3.1 m3.2 m3.2 m3.5 m4.5 m6.3 m6.6 m6.5 m5.9 m5.1 m5.2 m5.7 m4.8 m

Goodwill

91.4 m91.8 m91.8 m

Total Assets

256.4 m239.5 m234 m209.4 m197 m184.9 m160.6 m166.7 m159.4 m147.4 m263.2 m258.2 m268.7 m

Accounts Payable

3.3 m2.9 m2.7 m4.2 m4.2 m4.1 m4.1 m3.2 m3.6 m2.5 m2.7 m3.4 m5.5 m

Current Liabilities

26.2 m27.8 m35.7 m39.9 m41.7 m43.1 m48.1 m48.3 m46.4 m47.5 m59.1 m65.1 m55.6 m

Total Liabilities

32.1 m33.9 m44 m47.2 m50.6 m53.1 m56.8 m56.4 m54.3 m54.1 m74.3 m80.9 m66.4 m

Additional Paid-in Capital

379.8 m382.9 m387.4 m398.9 m404.4 m409.8 m422.3 m445.3 m451.6 m464.2 m573.3 m580.3 m592 m

Retained Earnings

(155.5 m)(177.3 m)(197.5 m)(236.8 m)(258 m)(278 m)(318.5 m)(335.1 m)(346.5 m)(370.8 m)(384.5 m)(403 m)(389.8 m)

Total Equity

146.4 m131.8 m103.9 m110.2 m105.1 m93.3 m188.8 m177.3 m202.2 m

Financial Leverage

1.3 x1.4 x1.5 x1.5 x1.5 x1.6 x1.4 x1.5 x1.3 x

Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(85.9 m)(79.9 m)(58.5 m)(55.6 m)

Depreciation and Amortization

1.4 m2 m3.2 m6.6 m

Accounts Receivable

(6 m)(1.7 m)(2.1 m)(2.5 m)

Accounts Payable

147 k646 k(1 m)764 k

Cash From Operating Activities

(7.7 m)(56.9 m)(37 m)(23.5 m)

Purchases of PP&E

(1.9 m)(5.4 m)(1.7 m)(2.5 m)

Cash From Investing Activities

(142.5 m)54.7 m46.5 m34.6 m

Cash From Financing Activities

189.5 m3.9 m20.1 m1.6 m

Net Change in Cash

(7.7 m)1.7 m29.6 m12.8 m

Interest Paid

117 k

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

(24.3 m)(46.1 m)(66.3 m)(19.6 m)(40.9 m)(60.9 m)(21.4 m)(38 m)(49.5 m)(14.8 m)(28.5 m)(47 m)(14.4 m)

Depreciation and Amortization

282 k604 k944 k454 k910 k1.4 m783 k1.6 m2.4 m698 k2.8 m4.6 m1.9 m

Accounts Receivable

(1.3 m)(5.3 m)(6.2 m)609 k49 k(2.5 m)(1.3 m)260 k(3.1 m)(1.7 m)(3.1 m)(7.8 m)

Accounts Payable

759 k384 k193 k1.5 m1.3 m716 k605 k(110 k)300 k177 k(508 k)401 k1.8 m

Cash From Operating Activities

(16.1 m)(35.6 m)(43.1 m)(13.2 m)(30.4 m)(44.9 m)(14 m)(25.9 m)(35.3 m)(10.9 m)(15 m)(23.4 m)(19 m)

Purchases of PP&E

(967 k)(1.4 m)(887 k)(1.7 m)(3.5 m)(466 k)(1.2 m)(1.6 m)(166 k)(931 k)(2.3 m)388 k

Cash From Investing Activities

(18.4 m)(142 m)(144.9 m)21.3 m41.8 m50.1 m28.7 m28.2 m51.4 m18.6 m28.4 m19.1 m5.3 m

Cash From Financing Activities

189.4 m187.8 m188.1 m1.5 m2.7 m3.1 m1.3 m19.3 m19.8 m(238 k)100 k581 k490 k

Net Change in Cash

9.6 m14.1 m8.2 m9.6 m14.1 m8.2 m16 m21.5 m36 m7.5 m13.5 m(3.7 m)

Ratios

USDY, 2018

Revenue/Employee

95.7 k

Financial Leverage

1.3 x
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Operating Metrics

Castlight Health's Backlog was reported to be $336m in FY, 2017. Castlight Health's Customers was reported to be 250 in Mar, 2018.
FY, 2015FY, 2016FY, 2017Mar, 2018

Backlog

$219.20 m$197.60 m$336 m

Customers

250

Retention Rate

116%104%94%
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