SLIDE 1
1
Castlight Health
Investor Presentation J une 2020 (NY S E : C S LT)
2
S afe Harbor S tatement
This presentation contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 including, but not limited to, our trends, our strategies and the anticipated performance of our business, our guidance for the second half and full year of 2020, the current and future impacts of COVID-19 on our business, actions we have taken in response to COVID-19, our long-term outlook, expected AR R growth, our license agreement and relationship with Anthem, our executive leadership, cost savings efforts, impact of non-renewals, sales momentum and expected timing of sales cycles, future churn risk and future cash position. Forward-looking statements are subject to risks and uncertainties that may cause our actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks set forth in our filings with the Securities and Exchange Commission. Statements contained herein are made as of or for the first fiscal quarter ended March 31, 2020. The information in the presentation is provided to you as of the dates indicated and we do not intend to update the information after its distribution, even in the event that the information becomes materially inaccurate, unless required by law. The guidance provided in this presentation is based on the statements made as of May 7, 2020 in connection with the release of
- ur earnings results for the quarter ended March 31, 2020 and reflect management’s views and expectations at that time. We are
not reaffirming or providing any further guidance or updates on our performance now. Please refer to the risk factors included in
- ur filings with the Securities and Exchange Commission for discussion of important factors that may cause actual events or
results to differ materially from those contained in our forward-looking statements, including in our Form 10-Q for the quarter ended March 31, 2020.
Non-GA A P Financial Meas ures
To supplement Castlight Health’s financial statements presented in accordance with generally accepted accounting principles (GAAP), we also use and provide investors and others with non-GAAP measures of certain components of financial performance, including non-GAAP gross profit and margin, non-GAAP operating expense, non-GAAP operating loss, non-GAAP net loss and non-GAAP net loss per share. Non-GAAP gross profit and margin, non-GAAP operating expense, non-GAAP operating loss, and non-GAAP net loss exclude stock-based compensation, goodwill impairment, certain legal expenses, amortization of intangibles, capitalization and amortization of internal-use software, and lease exit and related charges. We believe that these non-GAAP financial measures provide useful supplemental information to investors and others, facilitate the analysis
- f the company’s core operating results and comparison of operating results across reporting periods, and can help enhance overall
understanding of the company’s historical financial performance. These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, measures prepared in accordance with GAAP. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore comparability may be limited. Castlight Health encourages investors and others to review the company’s financial information in its entirety and not rely on a single financial measure. We have provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, which is available in the appendix.