Livongo is Still Blowing Minds with Its Success

Livongo, a digital health specialist that raised more than $350 million in an initial public offering last year, continues to blow investors away. The Mountain View, CA-based company said its 4Q19 revenue was $50.2 million a significant increase over its 4Q18 revenue of $21.2 million. Despite beating Wall Street expectations, Livongo has yet to make a profit. The company lost about $6 million for the quarter and about $55 million for 2019. However, that will come, said Lee Shapiro, Livongo’s CFO. "I also feel confident reaffirming our commitment to profitability in 2021 on an adjusted EBITDA basis,” Shapiro said, according to a transcript of the call from Seeking Alpha. “Simply stated, this business continues to perform ahead of my expectations.” Revenue guidance for 2020 is expected to be between $280 million to $290 million and this represents growth of 65% to 71% over 2019. Livongo was founded in 2008 and is a data-based health coaching program that enables people with diabetes to share blood glucose records with Certified Diabetes Educators. It has hit all of the right notes. The firm not only promotes patient empowerment, but it combines two of the hot topics in healthcare that often score well with investors - diabetes management and artificial intelligence. In addition to operating in these two areas, Livongo has secured key agreements with Blue Cross Blue Shield of Kansas City and their Federal Em...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Digital Health Source Type: news