Livongo Announces Preliminary Second Quarter 2020 Revenue; Exceeds Previously Announced Guidance
Second Quarter 2020 Earnings Conference Call Scheduled for August 6, 2020
MOUNTAIN VIEW, Calif., July 07, 2020 (GLOBE NEWSWIRE) -- Livongo Health, Inc., (Nasdaq: LVGO) today announced a preliminary financial result for the second quarter of fiscal year 2020.
Livongo now expects revenue for the second quarter of 2020 to be in the range of $86 million to $87 million, up from prior guidance of $73 million to $75 million. The updated revenue outlook includes approximately $2 million to $3 million of items that management considers non-recurring or one-time in nature. This financial result for the second quarter of fiscal 2020 is preliminary and subject to change in connection with the completion of the company’s quarter-end closing process and the preparation of the unaudited financial statements for the second quarter of 2020.
“Livongo’s momentum coming into the second quarter has continued, and we believe is attributed to our unique ability to deliver measurable and proven clinical and financial results at scale.
The COVID-19 pandemic has only magnified the need for Livongo’s solutions, which goes well beyond remote monitoring and video visits to generate consumer directed virtual care,” said Zane Burke,
Chief Executive Officer of Livongo. “The largest, most innovative employers and health plans are continuing to select Livongo due to our whole person approach to care which is accelerating our
growth. Investments made in our data science capabilities are paying off in stronger than expected enrollment and Member retention as revealed by this quarter’s revenues.”
Livongo management will hold a conference call on Thursday, August 6, 2020, at 4:30 p.m. Eastern Time to discuss results for the second quarter ended June 30, 2020 and forward guidance, which will also be issued in a press release after close of the U.S. stock market.
All interested parties may dial 270-215-9499 and reference “Livongo” or Conference ID 7286217 to listen to the quarterly conference call. Participants may join the webcast here. A replay of the call will be available via webcast for on-demand listening shortly after completion of the call on the Investor Relations section of the company’s website, www.livongo.com, and will remain available for approximately 90 days.
Livongo empowers people with chronic conditions to live better and healthier lives, beginning with diabetes and now including hypertension, weight management, diabetes prevention, and behavioral health. Livongo pioneered the category of Applied Health Signals to offer Members clinically-based insights that focus on the whole person and make it easier to stay healthy. Using its AI+AI engine, Livongo’s team of data scientists aggregate and interpret substantial amounts of health data and information to create actionable, personalized and timely health signals delivered to Livongo Members exactly when and where they need them. The Livongo approach delivers better clinical and financial outcomes while creating a different and better experience for people with chronic conditions. For more information, visit: www.livongo.com or engage with Livongo on LinkedIn or Twitter.