Shares of healthcare industry solutions provider Livongo Health (LVGO) - Get Report were falling hard in trading Thursday after the company reported a second-quarter loss wider than analysts' expectations.
The Mountain View, California-based company reported a 156% increase in year-over-year revenue to $40.9 million with a non-GAAP loss of 46 cents a share. Analysts were expecting the company to report revenue of $39.74 million and a loss of 41 cents.
"We are pleased with our second quarter performance," said Lee Shapiro, Livongo's chief financial officer. "Our rapid growth in sales, which includes impressive acceptance of our hypertension offering, along with our Per Participant Per Month subscription model and improving margins gives us strong confidence in our future."
For the third quarter, the company expects revenue to range between $42 million and $43 million compared to Wall Street expectations of $42.27 million.
Livongo shares are down 10.9% to $27.50 in trading.