Mountainview, Calif.-based Livongo Health's second quarter revenue will exceed expectations as the need for remote monitoring and telehealth increased during the pandemic.
The company won't report its official second quarter earnings until Aug. 6, but preliminary results show that revenue will likely hit $86 million to $87 million, far above the prior guidance of $73 million to $75 million. The new outlook includes $2 million to $3 million that Livongo believes is a one-time boost in revenue.
CEO Zane Burke also said the company had stronger than expected enrollment and member retention in the second quarter. Livongo reported first quarter revenue grew 115 percent year-over-year to $68 million on May 6, and projected full year revenue would hit $290 million to $303 million.