Castlight Health (CSLT) saw its loss narrow to $9.10 million, or $0.09 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $19.06 million, or $0.20 a share. On the other hand, adjusted net loss for the quarter narrowed to $1.37 million, or $0.01 a share from a loss of $14.80 million or $0.16 a share, a year ago.

Revenue during the quarter surged 40.26 percent to $29.90 million from $21.32 million in the previous year period. Gross margin for the quarter expanded 1719 basis points over the previous year period to 71.90 percent. Operating margin for the quarter stood at negative 30.86 percent as compared to a negative 89.73 percent for the previous year period.

Operating loss for the quarter was $9.23 million, compared with an operating loss of $19.13 million in the previous year period.

However, the adjusted operating loss for the quarter stood at $1.49 million compared to operating loss of $14.87 million in prior year period.

"2016 was an important year for Castlight as we executed on key initiatives to drive long-term growth, increase adoption of our full platform, and improve our operating performance,” said Giovanni Colella, M.D., co-founder and chief executive officer of Castlight Health. "With two-thirds of our new customers in 2016 purchasing the full Castlight platform, we are seeing strong traction with our health benefits platform that I believe will be even further enhanced by the Jiff acquisition."

Castlight Health expects adjusted revenue to be in the range of $138 million to $142 million for financial year 2017.

Cash flow from investing activities was $46.48 million for the year, down 15.10 percent or $8.26 million, when compared with the last year.

Cash flow from financing activities was $20.06 million for the year, up 421.17 percent or $16.22 million, when compared with the last year.

Cash and cash equivalents stood at $48.72 million as on Dec. 31, 2016, up 154.42 percent or $29.57 million from $19.15 million on Dec. 31, 2015.