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Mar 31, 2020
eHealth Q1 2020 Earnings Report
Achieved revenue growth and profitability amidst the COVID-19 pandemic.
Key Takeaways
eHealth, Inc. reported a strong first quarter in 2020, with revenue increasing by 55% compared to the first quarter of 2019. The company's net income also improved, turning from a net loss in the previous year to a net income of $3.5 million. The company mission to connect every person with the highest quality, most affordable health insurance for their life circumstances is more relevant and important than ever.
Revenue for the first quarter of 2020 was $106.4 million, a 55% increase compared to $68.8 million for the first quarter of 2019.
GAAP net income for the first quarter of 2020 was $3.5 million compared to net loss of $5.2 million for the first quarter of 2019.
Adjusted EBITDA was $11.1 million for the first quarter of 2020 compared to $8.6 million for the first quarter of 2019.
Net cash provided by operating activities for the first quarter of 2020 was $8.9 million compared to $12.7 million for the first quarter of 2019.
Revenue by Segment
Forward Guidance
eHealth is updating its guidance for the full year ending December 31, 2020. Total revenue is expected to be in the range of $600.0 million to $640.0 million. GAAP net income is expected to be in the range of $70.0 million to $85.0 million. Adjusted EBITDA is expected to be in the range of $125.0 million to $140.0 million.
Positive Outlook
- Total revenue is expected to be in the range of $600.0 million to $640.0 million, compared to the previous guidance of $580.0 million to $620.0 million.
- Revenue from the Medicare segment is expected to be in the range of $553.0 million to $589.0 million, compared to the previous guidance of $533.0 million to $569.0 million.
- Revenue from the Individual, Family and Small Business segment is expected to be in the range of $47.0 million to $51.0 million, consistent with the previous guidance.
- GAAP net income is expected to be in the range of $70.0 million to $85.0 million, compared to the previous guidance of $68.0 million to $83.0 million.
- Adjusted EBITDA is expected to be in the range of $125.0 million to $140.0 million, compared to the previous guidance of $120.0 million to $135.0 million.
Challenges Ahead
- Cash used in operations is expected to be in the range of $61.0 million to $64.0 million, compared to the previous guidance of $52.0 million to $55.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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