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Sep 30, 2020
eHealth Q3 2020 Earnings Report
Reported strong revenue growth driven by Medicare and Individual, Family and Small Business segments, but experienced a net loss due to increased operating costs and expenses.
Key Takeaways
eHealth, Inc. announced its third quarter 2020 financial results, with revenue increasing by 35% to $94.3 million compared to the third quarter of 2019. However, the company reported a GAAP net loss of $14.5 million, compared to a net loss of $11.0 million in the same period last year.
Revenue for Q3 2020 was $94.3 million, a 35% increase year-over-year.
GAAP net loss for Q3 2020 was $14.5 million, compared to a net loss of $11.0 million in Q3 2019.
Adjusted EBITDA was $(13.3) million for Q3 2020, compared to $(18.8) million for Q3 2019.
Net cash provided by operating activities for Q3 2020 was $1.4 million, compared to net cash used in operating activities of $15.9 million for Q3 2019.
Revenue by Segment
Forward Guidance
eHealth reaffirmed its full year 2020 guidance provided on July 23, 2020.
Positive Outlook
- Total revenue is expected to be in the range of $630.0 million to $670.0 million.
- Revenue from the Medicare segment is expected to be in the range of $583.0 million to $619.0 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.
- 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.
Challenges Ahead
- Cash used in operations is expected to be in the range of $85.0 million to $95.0 million.
- Cash used for capital expenditures is expected to be in the range of $23.0 million to $25.0 million.
- Medicare segment profit is expected to be in the range of $176.0 million to $193.0 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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