Livongo Health IPO: 5 things to know about the digital-health startup

Livongo Health Inc., the digital-health startup that’s looking to help people manage chronic diseases, filed to go public in late June.

Livongo hasn’t disclosed how many shares it plans to offer, nor has it listed a price range for shares. It previously has raised around $240 million from venture capitalists over the years, and its last disclosed valuation, according to The Wall Street Journal, was $800 million. Investors have included General Catalyst, Kinnevik Online AB, Merck Global Health Innovation Fund and KPCB Holdings. MarketWatch and The Wall Street Journal share common ownership.

Revenue is growing, but so are net losses Livongo generated $68.9 million in revenue in 2018, more than double the $30.9 million it made in 2017. However, the company has not been able to turn a profit, and net losses have grown; the startup lost $33.4 million in 2018 after losing $16.9 million in 2017.

Management is well-compensated Glen Tullman, Livongo’s founder, executive chairman and former chief executive officer, made a base salary of $405,000 in 2018. With bonuses, stocks and options, his total compensation in 2018 came up to just over $3.1 million. Tullman was the CEO of Allscripts Healthcare Solutions Inc. MDRX, +0.17% from 1997 to 2012.

Livongo also acquired weight-loss company Retrofit Inc. in 2018 for $18.6 million and behavioral-health app myStrength in February for $33.5 million.

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