Livongo Reports Second Quarter 2020 Financial Results

Second quarter total revenue of $91.9 million, up 125% year-over-year

Over 410,000 enrolled Livongo for Diabetes Members, up 113% year-over-year

MOUNTAIN VIEW, Calif., Aug. 05, 2020 (GLOBE NEWSWIRE) -- Livongo Health, Inc. (NASDAQ: LVGO), the leading Applied Health Signals company empowering people with chronic conditions to live better and healthier lives, today announced financial results for its second quarter endedA June 30, 2020.a??Livongo entered 2020 with significant momentum and our strong results continued during the second quarter,a?? said Zane Burke, Chief Executive Officer of Livongo. A a??Innovative employers and health plans are choosing Livongo due to our leading Consumer Directed Virtual Care model and our ability to deliver significant clinical and financial improvements through a one-to-many approach. As we experience the further adoption of virtual health and remote monitoring technologies as the new standard of care, Livongo continues to build on its leadership position.a??Second Quarter Fiscal 2020 Financial Highlights:

Revenue: Total revenue for the quarter was $91.9 million, up 125% year-over-year, driven by the continued adoption of our Applied Health Signals platform. During the second quarter, the company achieved certain performance milestones and service performance obligations that resulted in approximately $2.5 million of revenue. Excluding that non-recurring revenue, second quarter revenue increased 119% year-over-year.

Gross Margin: GAAP gross margin of 76.6% and non-GAAP gross margin of 77.3%.

Net Loss and Non-GAAP Net Income: GAAP net loss of $1.6 million, and GAAP net loss per share attributable to common stockholders of ($0.02) on a diluted basis; and non-GAAP net income of $12.5 million, and non-GAAP net income per share attributable to common stockholders of $0.11 on a diluted basis.

Adjusted EBITDA: $13.3 million in the second quarter of 2020.

Livongo for Diabetes Members: Over 410,000 as of June 30, 2020, up 113% year-over-year.

Livongo Clients: 1,328 Clients as of June 30, 2020, up 75% year-over-year.

Estimated Value of Agreements (EVA): $108.7 million, up from $74.2 million in the second quarter of 2019, representing 46% growth year-over-year. EVA consists of the estimated value of agreements signed in the quarter with new Clients or expansions entered into with existing Clients.

Additional information on Livongo's reported results is included in the financial tables below.Updated Conference Call Information
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