Cloud software firm approaches its IPO price

|By:, SA News Editor

Recent IPO Castlight Health (CSLT -1.5%) trades at $17 today barely above its initial $16 price and down 60% from its opening day high. The stock debuted on March 14 peaking at $41.95 on turnover of 11.5M shares.

The firm offers cloud-based software that enables large enterprises to manage their healthcare costs. Over the past two years, it has signed up 95 new customers including 24 members of the Fortune 500.

Revenues for 2011 - 2013 are: $1.6M, $3.4M and $11.7M.

Net losses for the years are: -$19.9M-$35M and -$62.2M.

CF Ops for the same period: -$16.6M-$29.3M and -$50.1M.