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Mar 31, 2022
eHealth Q1 2022 Earnings Report
eHealth's first quarter results reflected revenue in-line and adjusted EBITDA ahead of expectations, driven by cost transformation initiatives and a focus on profitable growth through enrollment quality and online business scaling.
Key Takeaways
eHealth, Inc. reported a total revenue of $105.3 million for Q1 2022, a 22% decrease compared to Q1 2021. The company's GAAP net loss was $(32.7) million, while adjusted EBITDA was $(24.8) million. The company is focusing on profitable growth, with initiatives to improve enrollment quality and scale its online business.
Financial results reflected the impact of enrollment quality initiatives on telephonic conversion rates and a deceleration of telephonic enrollment.
Enrollment quality initiatives led to substantial improvement in retention rates and quality scores for Q4 2021 Medicare Advantage enrollments.
Online business scaled with a 50% year-over-year increase in online unassisted Medicare Advantage enrollments.
The company is on track to generate approximately $60 million in annualized cost savings this year.
Revenue by Segment
Forward Guidance
eHealth reaffirms its full year 2022 guidance, expecting total revenue between $448.0 million and $470.0 million, GAAP net loss between $106.0 million and $83.0 million, and adjusted EBITDA between $(64.0) million and $(37.0) million.
Positive Outlook
- Total revenue is expected to be in the range of $448.0 million to $470.0 million.
- GAAP net loss is expected to be in the range of $106.0 million to $83.0 million.
- Adjusted EBITDA is expected to be in the range of $(64.0) million to $(37.0) million.
- Total cash outflow, excluding the impact of our $70.0 million term loan and associated costs, is expected to be in the range of $140.0 million to $120.0 million.
- Reaffirming full year 2022 guidance.
Challenges Ahead
- GAAP net loss is expected to be in the range of $106.0 million to $83.0 million.
- Adjusted EBITDA is expected to be in the range of $(64.0) million to $(37.0) million.
- Total cash outflow, excluding the impact of our $70.0 million term loan and associated costs, is expected to be in the range of $140.0 million to $120.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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