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Sep 30, 2021
eHealth Q3 2021 Earnings Report
Announced third quarter results, reflecting the impact of enrollment quality initiatives on telephonic conversion rates and scaling of online unassisted business.
Key Takeaways
eHealth, Inc. reported a 32% decrease in revenue to $63.9 million compared to Q3 2020. The GAAP net loss was $53.0 million, and adjusted EBITDA was $(55.2) million, reflecting lower revenue and investment in scaling the internal Medicare agent force.
Third quarter financial results reflected the impact of our enrollment quality initiatives on telephonic conversion rates.
Revenue for the third quarter of 2021 was $63.9 million, a 32% decrease compared to $94.3 million for the third quarter of 2020.
Medicare Advantage LTVs of $975 or a 9% increase compared to the third quarter of 2020.
GAAP net loss for the third quarter of 2021 was $53.0 million compared to $14.5 million for the third quarter of 2020.
Revenue by Segment
Forward Guidance
eHealth is revising guidance for the full year ending December 31, 2021.
Positive Outlook
- Total revenue is expected to be in the range of $535.0 million to $575.0 million compared to our previous guidance of $660.0 million to $700.0 million.
- GAAP net loss is expected to be in the range of $(43.0) million to $(63.0) million compared to our previous guidance of GAAP net income of $42.0 million to $57.0 million.
- Adjusted EBITDA is expected to be in the range of $(20.0) million to $0.0 million compared to our previous guidance of $110.0 million to $125.0 million.
- Cash used in operations is expected to be in the range of $125.0 million to $135.0 million compared to our previous guidance of $85.0 million to $95.0 million, and cash used for capital expenditures is expected to be in the range of $21.0 million to $24.0 million compared to our previous guidance of $24.0 million to $27.0 million.
- Non-GAAP net loss per diluted share is expected to be in the range of $(0.45) to $(1.13) compared to our previous guidance of non-GAAP net income per diluted share of $2.77 to $3.26 per share.
Challenges Ahead
- Total revenue is expected to be in the range of $535.0 million to $575.0 million compared to our previous guidance of $660.0 million to $700.0 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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