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Jun 30, 2020
eHealth Q2 2020 Earnings Report
Reported strong revenue and Medicare enrollment growth.
Key Takeaways
eHealth's Q2 2020 revenue increased by 35% to $88.8 million compared to Q2 2019. The company's GAAP net loss was $3.4 million, an improvement from the $5.8 million net loss in the same quarter last year. Adjusted EBITDA increased to $1.7 million from $0.8 million in Q2 2019.
Revenue for the second quarter of 2020 was $88.8 million, a 35% increase compared to $65.8 million for the second quarter of 2019.
GAAP net loss for the second quarter of 2020 was $3.4 million compared to net loss of $5.8 million for the second quarter of 2019.
Adjusted EBITDA was $1.7 million for the second quarter of 2020 compared to $0.8 million for the second quarter of 2019.
Net cash used in operating activities for the second quarter of 2020 was $21.3 million compared to $11.5 million for the second 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 $630.0 million to $670.0 million. GAAP net income is expected to be in the range of $79.0 million to $94.0 million. Adjusted EBITDA is expected to be in the range of $140.0 million to $155.0 million.
Positive Outlook
- Total revenue is expected to be in the range of $630.0 million to $670.0 million, compared to the previous guidance of $600.0 million to $640.0 million.
- Revenue from the Medicare segment is expected to be in the range of $583.0 million to $619.0 million, compared to the previous guidance of $553.0 million to $589.0 million.
- GAAP net income is expected to be in the range of $79.0 million to $94.0 million, compared to the previous guidance of $70.0 million to $85.0 million.
- Adjusted EBITDA is expected to be in the range of $140.0 million to $155.0 million, compared to the previous guidance of $125.0 million to $140.0 million.
- Medicare segment profit is expected to be in the range of $176.0 million to $193.0 million, compared to the previous guidance of $157.0 million to $174.0 million.
Challenges Ahead
- 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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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