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Jun 30, 2022
eHealth Q2 2022 Earnings Report
Reported a decrease in revenue due to reduced marketing spend and lower telephonic conversion rates, but achieved significant cost reductions.
Key Takeaways
eHealth, Inc. reported a decrease in revenue and a net loss for Q2 2022, impacted by reduced marketing spend and lower telephonic conversion rates. However, the company achieved significant cost reductions and saw growth in its unassisted online Medicare Advantage enrollments.
Total revenue for Q2 2022 was $50.4 million, reflecting the impact of $8.7 million in negative revenue adjustment.
GAAP net loss for Q2 2022 was $(37.5) million.
Adjusted EBITDA for Q2 2022 was $(33.3) million.
Online business scaled with a 15% year-over-year increase in unassisted online Medicare Advantage enrollments.
Revenue by Segment
Forward Guidance
eHealth revised its full-year 2022 guidance, lowering revenue expectations but maintaining adjusted EBITDA and GAAP net loss outlook. The company expects a positive impact on total cash outflow due to operational decisions.
Positive Outlook
- Focusing on optimizing marketing mix to focus on the most profitable and strategically important lead generation channels.
- Adjusting agent headcount goals for the AEP.
- Expect a significant positive impact on our 2022 total cash outflow.
- Revised guidance ranges to reflect the $8.7 million in negative revenue adjustment recognized in the second quarter.
- Maintaining adjusted EBITDA and GAAP net loss outlook.
Challenges Ahead
- Lowering overall 2022 enrollment and revenue expectations.
- Total revenue is expected to be in the range of $375.0 million to $395.0 million compared to our prior guidance range of $448.0 million to $470.0 million.
- GAAP net loss is expected to be in the range of $115.0 million to $92.0 million compared to our prior guidance range of $106.0 million to $83.0 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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