CSLT - Earnings call transcript Q4 2019

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Operator

Good afternoon. My name is Sheryl, and I will be your conference operator today. At this time, I would like to welcome everyone to the Castlight Health Q4 Earnings Results Conference Call. [Operator Instructions] Thank you.

I will now turn the call over to the Castlight Health management team.

Gary Fuges

to conference Health call. welcome full quarter and XXXX year afternoon, the fourth Castlight and Good Leading Executive Bondurant, Officer; call and today's are Will Chief Maeve Financial O'Meara, Chief Officer. we offer remarks Will their and your questions. will and Maeve then will take prepared

year sales, and release, website. our position, growth are cash changes our available related retention full press and of impact contains call customers, XXXX, limited including forward-looking margin Investor and trends, Our but our in existing other section strategy the trends, performance the strategies Relations materials management for business, expense not gross company’s performance. use, guidance our our new link, webcast the and changes of of This and of on operating on statements cash future regarding to anticipated the

These after XX, assumptions. disclaim of made and risks, longer at XX, any this reflect to forward-looking accurate. may call and revise update statements. this and obligation If be information any as call uncertainties expectations current no We or XXXX, February various management’s or are XXXX, replayed subject the views time, in the and to statements are February is

actual that those cause filings forward-looking Securities from Exchange and our may discussion provide This or differ do public our but the guidance, contains important the with the will further refer to unless we Please on and statements. risk forum. call or included guidance factors company’s in in so release updates factors performance Commission not for quarter financial the a during results any we contained of materially events in press today’s to

GAAP non-GAAP the that our on appendix loss, net margin, a the before basis, aid the we certain be loss filed A comparable includes per can historical metrics, of such metrics, also earnings gross operating release call. share in as and results. to understanding of operating found believe section in reconciliation diluted our financial expenses, presentation non-GAAP Today’s

Maeve to Maeve? call the turn I’ll O'Meara, over Castlight. CEO that, With of

Maeve O'Meara

Thank joining on call. us today’s for you

laid to out CEO our business; reinvigorate delivery QX executive strong next initiatives chapter. build of and our another lead the after was Anthem vectors; July our quarter on solidify the to in top growth I Company relationship; concrete out execute our direct-to-employer team stepping priorities new establish into against into the role:

The over was team’s it just last have the in significantly quarters the stronger ago. achievements months Company than two six a position put

for on sustainable importantly, our More I over us continued in growth. XXXX to the believe that, will to XXXX the half foundation path sets back second Company the work of allow ultimately, the execution put

to applicability In thesis shared more our the July, in term, in demonstrated growth our on our strategy. ecosystem. clear two-part need of is we the immediate the broader fully leverage the technology our In technology

leader. as market we First, of building on direct-to-employer our re-invigorating are strength our the position business,

we Second, positions new all health We addressable are streams work quarters two over expanded durable revenue last benefit ecosystem, our our our will believe XXXX. across and building market the with well the broader strategy serving plans. by platform expanding us and monetization for for stakeholders, of this starting

priorities. our review for reviewing QX results financial turn our fourth our who to primary by call achievements outlook the and the year. share will then Afterwards, Will, begin I’ll XXXX in this and call over quarter the I’ll

to reflects shared plan. in to Anthem signed we the October. recurring which annualized million We QX ended target relative ARR $XXX of million the in XXXX improved the renewal $XXX with with revenue, activity of you expansion ARR, $XXX we million, exceeded in or October, range agreement

the excited by We we’re in results, number a share and are of to tangible progress encouraged ARR of areas also other QX.

reduces two and the key onto wellbeing is Castlight financial operational one, support page as customer stacks; migrations technology all completing a to legacy costs our no tech of by a move milestone, milestone and unified employees and as platform. it turn of our strong, enables important forward and need an us reached two, single-stack to allows we pace our team. First, off the three, This re-accelerate to we as innovation; will longer our

launched Care a Guides, Castlight pilot Second, first November of manufacturing our customer. the XXX and high-touch successfully Fortune Complete we offering, with Castlight company in

needs reminder, impact, with Guides assistance ability offering to Castlight multiple date, To require seen support to examples Care including a strong high-touch errors. who of leverages is in our have more to support to members barriers care. provide navigating early in demonstrable results As user our platform that personalized billing simply our resolving users we’ve complex or

to and a cost-effective data infrastructure long-term services and navigation we AI-enabled is platform, engaging an Because positioned our existing alongside offering while this action best uniquely high-touch thus deep profile. next and deliver are experience. predict hightouch extension to digital our Castlight’s our offer leverages gross user’s Guides margin targeted of personalization Care that’s maintaining app

continues these services navigation to that in latest from XX% to for with Group use XX% XXXX. rise employer of in demand XXXX expected is Employer Business report showing to on the grow National Health’s

We available this are season. teams to this on-track new generally sales QX our have and service field for enabled make in

as efforts, - functions, our our I’m both of our excited the leading the to place customer was year. leading lead ARR seasonality one and the needed experienced critically This we say retention met drivers He’s business. given an goal new in candidate executive. and commercial the of a we to and hiring under two key sales unifies new our important hire we in we which end of Keith our management officer. Third, by customer of commercial XXXX chief our that our leader Reynolds business hired welcomed December success growth

CVS healthcare Plans and recently Vice President at success XX experience as roles customer sales of and of brings Aetna, and Health at leadership Strategy Health most CVS. serving from years Market Keith

many drove of and at management a Castlight that broad to also solutions digitally the assessment this attack addition and possesses responsibilities, the the company to and experienced an because as industry of sales a in Castlight chose accomplished both and early he both leader. at team focused In strongest Caremark’s sales his market Keith the belief Keith opportunity. plan days. is commercialization technology known while during and CVS, growth account smaller led in

Keith opened our certified messaging, Castlight Analytics. is our with new January event Product our with and promoted who as the where Strategy of and Marketing, veteran plays. in partnering team demos, XXXX closely SVP on season Rudnick, Keith served six-year newly the sales was sales recently VP of selling trained most a and Tamar kick-off

leading our to positioned to and both as company market, points more bringing valuable of deep will particularly be well to defining our support our growth. leverage instrumental is experience our Tamar we to go-to-market motion. market; in and returning in buyer, Keith her Complete to product seek Tamar was leverage knowledge proof the analytics her in

our to deeper our the necessary and commercial and we users. work and addition relationships the on the customers enhancement leadership, improve significant pilot Guides to In of continued with infrastructure excellence, drive develop more our Castlight Care operational value,

the short During open we a in continued ability our space. our permanent the This out City is a customer reinvigorate office to in initiative of frame quarter are example excellence of on-track great the a center business. to on of time Lake our employer to new build and Salt execute team’s

to with point members, of and partner on our for powerful plans. effectively strategy support growth plans to improving health provides ability progress proof leverage opportunity in health with further to a Anthem a our starting made their clear our we plans. vectors, technology new health to There is health Fourth, unlock navigation

multiple In In with progressed work plan to this our establish proposals last pipeline. health active meetings to call, the foundation on go-to-market have I team, we and prospects. discussed from our the built the QX, and plan

platform, three and the transparency been areas we navigation provider particularly personalization. and directory, deepest networks. having full provider value-based has Transparency The where are the top-of-mind, quality including scoring, are discussions

plan’s functionality experience the embed allows are the health us to journey. ability where on white-labeled a their Our coupled user platform into navigation plan with technology they to our meet

far new we energized I come two off As quarters. how the kick in we’ve am year, by

XXXX, to successes. on build For priorities are these our early

are We team retention. goals: to our and the extended business. leadership on of continue enable work to First, executing focused improved Keith revitalize our critical fundamentals The are and we sales direct-to-employer to our will four on

need spoken and relationships about excellence, business. for continuous operational have value, support to credible book the of We a healthy strong innovation,

shift against demonstration and lead his in and With a our collateral, engagement taking concrete marketing analytics levers, support refreshed executive are We these significant sales stepping team, Keith Tamar teams to in retention. leadership actions up messaging, to all and new including clear both positioned of importantly, we in with most of well are value. and

of We are stronger year the our half now with a book business non-Anthem Complete. on over entering also of position in

the market and goal is on deliver our as it the pilot the to and Business Health second the see National to available customers. make fully case Our early we the Guides Castlight we introduce QX prospects in in offering of hear Care and What success and build Group product supports on study.

an interest significant add-on capability services, the digital touch for positioned in solution. with effective, to high high-touch some seen in uniquely cost launch. and plus prospects market as hole touch attractive have are We we the high We digital a believe address post viewing

least XXXX. goal plan in at to is Our deal sign third health new one customer

to we through here the cycles sales While pipeline. moving XX are typically months, XX are opportunities concrete

were our this relationship. with proof than to point pipeline, go-to-market in Anthem year, developing a stronger we dedicated of team, much are a time plan our health last expanded We position and due

platform. while value and new also Anthem we Engage We closely the deliver to partnering our continue with expect to to ensure customers, with adding membership innovate

goal gross loss margin to maintain operating profile is and fourth compared our Our as XXXX. to improve

to completion plus Care office market. can we making growth of loss expect our the the value in in we Guides, our tech believe the of see efficiencies. XXXX. invest in navigation Salt reducing high We are We high while investments savings Lake R&D cost from That City given employer and said, in Castlight touch

on page urgency. We are XXXX turn XXXX to begin and excited optimism and the with

proud innovation, delivered what promise jump-start extend and relationship, accomplished since real our executive Looking enhance Anthem leadership. on new of plan to deliver initiative, a and back, our sales our we’ve July. product We expand I’m health

this progress Looking forward, foundation for as will use we XXXX. the

to return business, the product sustainable have place, rising trajectory and the in the believe with growth. I We challenge jumping to want to XXXX a into pride team work but to the we purpose. in thank entire market, strongest the in path XXXX to have for our right company team change fully visible and I do Castlight the to more of and the

results financial over QX review and call Will, will XXXX the turn now our I’ll Will? outlook. who to

Will Bondurant

thank Thanks, Maeve. for us today. joining you and afternoon Good

Our and direct-to-employer reflect and with begin growth sequential stability targeted of technology penetrating Maeve market. and We and to plan fourth infrastructure accomplish in our second-half progress book making while financial health outlined: customer ARR the reinvigorate our improved our just the continued business investments associated investments strategy drove leadership, priorities. the results right the and quarter’s careful

incremental the ARR, revenue, QX. by from and Anthem year-end, $XXX million agreement ARR or This plan. on the sequentially QX at October Annualized from increase license execution million to recurring improved totaled renewals principally was enterprise in $XX relative up driven

As QX a a quarter. and is heavy a sales reminder, light seasonally renewals quarter

is churn renewals our with value, employer discussed lagging indicator, improvement by in our the on continued deeper strategy innovation, against a expectations was and the believe we partnerships driven delivering credible customers. While QX: in-part

made them ARR into discussions QX. we end to sign As at us customers did to their in these reflected enable of and renewal progress short-term continue These principles, that renewal number be in ongoing small with a against our will are QX. QX of outcomes we the extensions dialog

have low net the October. with of year-end would renewal which dollar XX%, includes level Net Anthem saw with NDR, retention, of XXXX. year the in impact, at the ended and our of been consistent or we the the range expansion impact NDR XX% Anthem and in substantial We

to with encouraged Anthem. XX% Complete that ahead direct Castlight of associated is renewals, or are Looking we XXXX ARR

at-risk elevated in July, still we of believe point our said do we churn. solutions As are

for one-quarter we our from to now However, expect investments have account discussed retention. they we only and the them around book of benefit

and in-line and fourth of revenue million to for million revenue revenue $XXX and annual contracts $X.X guidance to our $XXX plan. XX% approximately related total of QX range customer revenue revenue XXXX, accounted Revenue was million end of included was guarantees. $XX.X quarter in-line $XXX the performance for in million. of our Subscription nonrecurring full-year the with with

recall, may of fourth non-recurring dynamic quarter had As with $X.X and in $X.X of XXXX the XXXX million with of we non-recurring revenue QX a you in similar million revenue.

our the quarter the expectation Center levels exceeded and users wellbeing Services using in incentive revenue Other points for cards higher of redeeming to Reward feature. fourth gift due Professional

card cost or While redemptions revenue that’s of this offering generate for product business core activity net focus, not gift fulfillment. is Castlight user the our and

spend of deadlines. we associated than the QX, to with in of-year business these saw with seasonality In improved from Wellbeing customer migrations end we redemptions, re-platforming which higher was expected part by stability believe and revenue and due

Now, services a to and, cost fourth write-off in primarily was factors: Utah million Fourth increase margin the turn Center increase by of revenue. professional by amortized terminated driven let’s one-time for declined of our XX%, $X.X fees quarter non-GAAP quarter This in our gross to the investment financials. Excellence. non-GAAP of second, first, Customer customers driven

of margin XXXX In team. we mid-XX% call: sales $XX.X XXXX, the to terminations margin. we marketing include XX% total levels expenses and gross expense write-off G&A with in to which have nonrecurring low expenses commission subscription expect amortized we uptick recruiting due primarily margin our totaled a discussed gross built-out our to and prior return and executive operating an on associated as Non-GAAP gross in million,

marketable with year $X and $XX quarter in expectations. fourth loss essentially cash factors, million in our with from in these on Based million operating and We million. cash securities, $X.X the generated operations QX in-line non-GAAP approximately ended was

With provide now our I’ll that, outlook.

year XXXX are strategy Castlight Maeve on to efficiently for resources and Castlight focused we return growth. will As continued mentioned, sustainable ensuring be are and achieve of our transformation to deployed a our

to In non-GAAP our financials, between terms and shares. in based and between share $XX and million; per we to of on million loss operating range of XXX million currently $XXX $X.XX million the $XXX expect loss non-GAAP $X.XX million; XXXX $XX revenue XXX

The Anthem January with became ratable which in direct-to-employer new becoming dates. third, the reflects: enterprise sales and, fewer agreement, launch revenue of on XXXX; XXXX first, license recognition effective Xst; revenue XXXX terminations the XXXX with second, effective guidance impact

our and were we we have sales light, recognition new see course tie the expect each our the in revenue launches sequentially does not year client growth do revenue not quarter XXXX Given the to over to relationship Anthem of seen that historically.

in low our non-GAAP Center deployment expect gross Utah range Care and the margin investment with subscription the the full margin XX% be for total Excellence in to gross range mid-XX% initial year Customer the Castlight remaining Guides, in of Given the of XXXX. we

we to its to operating In XX expenses, currently expect range marketing long-term terms sales and of revenue. of of non-GAAP target be within XX%

range, platform. see year-over-year, above While reduction by of we target expect the a remain will expense R&D our dollar a the R&D on XX% in basis percent partly Jiff elimination to XX% high driven single-digit to

basis G&A talent versus expect continued operations We be up to in of dollar reflecting on and XXXX, investments compliance, acquisition. a security, costs

cash. million $XX than the and to range expect of be to We with to cash end used $XX from XXXX operations in expect more $XX million in

with expect highest see As in operating to use net the XXXX, cash quarter. flow first we

As Castlight Maeve strategic focused are against mentioned, resources we on key growth. to aligning priorities that return will

six is are of execute We past and work XXXX our customers at efforts proud in of our behalf of team and hard the on shareholders. the to months further

pleased will we questions. now Operator, take be to

Operator

go comes Please Instructions] Garro Jeff The from first ahead. question William [Operator Blair. of

Your line is open.

Jeff Garro

for taking Thanks questions. the

retention over quarter? First has the somewhat fourth ask months. been positive like retention, I'll about events improved some sounds last And seven in there the

a year set us say versus the could about conversations expectations what's you for ago? help XXXX. maybe in different So And retention describe retention

Maeve O'Meara

be solution as our the a to we customers where year on versus have in were of we position XXs. health XX% a in So, Will pleased navigation mid mentioned, sitting last we're

And of lagging All is we've XX% continuing said, want that pragmatic point a to said churn that be churn. a assume with solutions, elevated before it we so on to indicator. we're

to And our are in going That put is contributed about. that to the that said, to talked decrease of and the rate extensions over right we've some confident your we're steps that that and of certainly we QX time. things attrition the we taking place point,

include a we've operational organization. innovation of every relationships healthy having at excellence, continuous value, the around focused credible level having said So, principles delivering business and our

against We've concrete done things those. really

have complete market in results, by which customers a So recently, received the from out point press extremely well our release on and put results of methodology those our a been we view.

on We lot been level Keith's that that engagement. of leadership. we participating. the we customers, of the under direct councils. close are last going of shared executive on call transformed a to are has also include we've And And XX% really to And customer now our ARR

pretty of improve. And retention lot look different to a in we're think So conversations. positioned things do these we

Jeff Garro

in at short-term and and are the clients and those comment are that engagement outcome clients? extensions? that to just Maybe a short-term the clients extension, up, been on throughout or Any their results are those of point that have follow complete the solutions, signing looking on clarify among are

Will Bondurant

absolutely, a Jeff good it's question. Yes for question thanks the

about As with Maeve them you extensions, able think end them on small at - we to majority vast year strategy the were clients point of the outlined, those and clients the signed solutions. the that number engage the that are short-term ARR of of the

book elevated able in of been do And forward conversation, on that in are them as is churn the so risk we because point there they we've bring even to solutions. think

Jeff Garro

the a a then number And competitive achieve those ask was know or color more of QX. but a light performance signed it. guys emphasizing quarter maybe I'll expectations they Got that it's signed? deals type new And little whether that or metrics mentioned I a seasonally you what in you've chose that were typically small more relationship. and not, with about why know been partnership you wondering the need on to Castlight? have of business of deals you I

new those So that's wins. evolved curious how customer in

Will Bondurant

renewals I'll on lot a quarter, QX sales Maeve more probably add numbers as I light quickly has the then the quarter, to is Absolutely, you and think market. a answer heavy mentioned.

relatively plan Maeve competitive majority on and were for. our But the small direct and looking on of they're so we and market of broader number plan what can situations, to weigh on those happy so the kind of were sales, you customers. with And be maybe

Maeve O'Meara

Jeff. Thanks,

competing competitive us And was are complete we effectively were think that And the with actually the So these actually I - in differentiated were offering ecosystem. hyper deals. larger I to personalized but competitive what they competing some specifically, do I'm And willingness way. in the to the a and partner. full care think of to spectrum to deals, cover the speaking the it everyone ability

we're those high what from really and a the was dialogue line. touch perspective a played technology complete the frankly, as got competitive that And role deals in finish developing the well. But across big very

Jeff Garro

your performance me versus you for to into historically just to just biggest to performance in any out guidance. is call the you But could in more to one we retention driver XXXX, on want the And which give guidance, been your opportunity the outlined? variants of hit the lead about I talked that guidance that the variance anything versus

Will Bondurant

Jeff. Absolutely

year XXXX Maeve a transformation that And the understand, position for remarks. heard say to setting will a we've business need kindly, where we in the we're be that, I'd approach of for a you given outcomes, towards First expectations trust. we business, financial in prepared earn pragmatic taken

the As you year. The this in the notice think of, element about wouldn't hit guidance gone could that the in-period churn real kind or and go pieces in terminations past wrong us of the challenge course is cause given have customers but could the wrong. that where we maybe could has the

into and high a tremendous ratable and we XXXX, we the revenue agreement Looking solidifies of have there recognition Anthem a launches. revenue number benefit don't of the portion the that though, from in-period

pragmatic in-period against expectations So resource we but downside, you to it know, feel way. a those execute managed our and has really poised were is, beyond like, expectations, in churn they

Jeff Garro

don't year, guidance? but And occur then upside launches I the could anything that know, to lead the in from typically

Will Bondurant

activities or our acquisitions membership the our changes clients like. number businesses, or in launch always is a made add There happened that small of and

had are launches general, conversion But year fewer especially incorporated year upside, this there. so we year the that that's relatively sales light years ARR we of mean given And might with the than past. revenue. entered view And in pretty we true some XXXX clear frankly, in into a have in have there's

Operator

of Please next comes Your ahead. Charles Rhyee Cowen. from go question

open. line Your is

Unidentified Analyst

the Charles. on more us Can like? on the strategy James getting health some the It’s and pipeline the of you progress what color feedback health from perhaps, looks we're plan for give maybe plans

Maeve O'Meara

it. talk to love So about

made of the of second the greatest So in progress this the half where is areas we year. one the

a So built since team, and you dedicated experienced the pipeline. leader, process, go-to-market in place we've mentioned, refreshed our July, we've an put as totally

the able fact that's been of that our we've quickly reasons move to the because technology Anthem the by is and strength and of of product validated been One partnership. the

active can So the months, the deal why and our of achieve in and what interest seen pipe we've in signing down of we're optimistic we've is a six course momentum that plan over goal into the started effectively proposals, which deals pipeline of XXXX. moving health those is a we lot

Unidentified Analyst

cause we about subscription looks think than bit that about for margins, talked XQ expecting. given going how Guides, related like but Care Is going XXXX? being you a services we And and into that pressured way into any should in were maybe professional higher

Will Bondurant

an fourth not heavy it's typically professional higher costs is a quarter, all have been cycle Yes, related the for X/X in are services and because high launch us.

you services of degradation we to where costs frankly, we to or as decreased. place is and and they've subscription. that The Utah little think actually return of margin related Care so Guides kind professional And to the expect bit about a of been XXXX, quarter subscription expect line cost first the

the though, mid prepared on year margin in about talked in the subscription total We XXs and do and the side. low expect the the margins gross end to XXs of remarks in the we

Unidentified Analyst

great. Okay, of was customers XQ? in what number total the And

Will Bondurant

customer we our on year lines Yes, the with in accounts. ended plans

disclose we on X, talk is can would that ARR business January Enterprise of Given which about to really going account. into you we customer measure the we effect year license in our said and where goes the believe forward. the plan we QX agreement new that know But on ARR Anthem forward ended and best

Operator

Your next ahead. Brian Canaccord Hoffman Genuity. of from question comes Please go

open. is line Your

Brian Hoffman

could it will This XXX a you existing on strategy to manufacturing of more Fortune on to remind Close. standalone Can you will Richard go-to-market or Guides, to a the Or Care that specifically, for be that of is both? an or mentioned, then, sold combination And new new respect existing customer? customer be is product be as just with customers? customers for a it Brian upsell the us

Maeve O'Meara

thanks for the question. Brian Hi,

in more that's overall strategy the is announcing is pilot. extending a is to touch market take to the to since Guides, our I apparent So become really both playing think just value that and more And out enable back and then the technology what from to us from that for Care users even buyers. we're seeing the allow step this, to deliver in going just that ultimately high kind piece interest of

answer those So was best. it's us customers. your as as directly, pilot, as available and to The solution. to made customers In new of we're question that to the the there existing and an investments have well here existing thesis complete head we've allow it in case really was the observing learning the customer, technology and start building the would

engine our and pilot. really Specifically personalization that's in of the out so borne far kind been

Brian Hoffman

you're us you And for something can only in that income. guidance as operating a giving positive I then thoughts non-GAAP around back turn to XXXX XXXX. XXXX that to of you're timing But Is to we when your could event? expect see know give is or more

Will Bondurant

accomplished and has in the underway six last XXXX. this we're we're on Brian, transformation then about talked today Maeve And what absolutely year. doing the what we've Yes, months focused on focused

We committed, XXXX getting I there the focused Maeve are we're both laser really growth business core that's focus returning sustainable are ours. to focused on today. committed to very and on of But a

Brian Hoffman

the in the XQ? that one me. contracts then last point of extension amount signed quantify solution the you of in terms And from Can short ARR

Will Bondurant

I absolutely help some can there. you Yes, give

million. had being expectation. about range million million as We XXX our XXX So you of talked year we think the a at as fourth to about, the XXX quarter, ended

the we have extensions, end ended short-term those exclude the would you range. If of toward high

So, that solution in can that think of you based range. point

Operator

of Your go Cantor next Fitzgerald. Please from question Steve comes Halper ahead.

line is open. Your

Steve Halper

Yes, just to follow-up on the question. previous

- short-term extensions you're the signed that dollars short high correct? - the saying So assuming a that within churn of you're is that rate what clients that

Will Bondurant

at think pay customers But say in of conversation first these starting us some we'd the made value do but will customers price partnership know choose some course have is strategy to engage degradaded renew we renew, that returned off. innovation I we're these of pleased very will to quarter. churn with the to will or around a that in the

Steve Halper

you point yet? And an talk prefer ARR to just about expectation is for year-end there at this a would or that not

Will Bondurant

ARR on Yes, no reported forward but we is metric, kind financials only guidance key of of there's our that. provide a view

Steve Halper

And the forward, are customers or question are number last done to going the you to continue then disclose we with of going that?

Will Bondurant

relationship you we of expect similar don't know to business or point believe that customer contribute counts health we in for is Anthem ARR. is, We relevant ways and XX% would the to account going Given and plans there. And not a indicator forward. ARR customer so you forward our material

Operator

question next ahead. from go & Dougherty Your Gene Mannheimer Company. of Please comes

Your line open. is

Eugene Mannheimer

Thanks the questions. for taking

about the roughly How comments that? the in drivers key do we It Anthem two Will Is sounds your from quarter, they of delivering activity. attainment over So the balanced? like this above to greater think the ARR prior was were renewal the top and range the agreement contributor your that activity. renewal or that

Will Bondurant

there in I of knew we there, the improved planned Anthem impact license agreement, provided was Anthem of would on license of three their pieces one sales What direct relative and when kind renewals. the agreement, October. that stepping on the performance say to plan that, the kind signed were Yes, Enterprise back we Enterprise is range we then

call we to talked fact, In our then. and signed prior it about it QX

about performance in function QX was I itself And But a so a to our the ARR sequentially it clear as you range, over impact be renewals. really want Anthem QX. of portion meaningful that the to growing think of relative the is

Eugene Mannheimer

convert middle that terms I take that? half solutions, Sure, will is we any exposed. forward? and base say, point will should - that the the installed XX% and third still ground sense. convert on about in And think we guess, a How make I of the going or color of around mean would

Maeve O'Meara

a our principles, on in we is cases are renewals many to get of that mean solutions those extended talked executing solution. that those strategy navigation about point against the I they navigation number on reasons And as solutions. is the to the them broader considering and

were that on I having principles those today. implementing effect. that strategy against We the still an of all the if think So, those with they is feel were - we're solution navigation better

Operator

time. There further at over back turn I call CEO, O'Meara remarks. this the no for the will to are Maeve closing questions

Maeve O'Meara

joining our us Have the and you you for continue on updating progress. look Thank forward in to a today. excited transformation to evening. We're XXXX good

Operator

This concludes participation. calls. you today's conference your for Thank

You may disconnect. now

Castlight Health (CSLT) 25 Feb 202019 Q4 Earnings call transcript