Cloud software firm approaches its IPO price


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.

Prospectus

(IPO) (FPX)

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Comments (2)
  • Gatzzb
    , contributor
    Comments (56) | Send Message
     
    I'd guess it has something to do with: $1.4bn market cap, $13mm Revenue, and no profit scheduled until (roughly) 2020.
    14 Apr 2014, 12:47 PM Reply Like
  • mlauritz
    , contributor
    Comments (354) | Send Message
     
    This Equity IPO was a Complete Scam even at its original $9-11 per share.

     

    The Fact it priced @ $16 and then subsequently Pumped & Dumped up to $40 per share on IPO Day is nothing-short of criminal in my mind.

     

    You know that our Market is not Healthy when complete Junk like Castlight Health can command a $1B+ Market Capitalization.

     

    (I am very short CSLT)
    14 Apr 2014, 01:58 PM Reply Like
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