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Sep 30, 2022
eHealth Q3 2022 Earnings Report
Announced third quarter 2022 results, reflecting cost transformation plan and improved Medicare agent productivity.
Key Takeaways
eHealth, Inc. reported a total revenue of $53.4 million and a GAAP net loss of $39.1 million for the third quarter ended September 30, 2022. The company's results reflect a reduction in member acquisition spending and an improvement in Medicare agent productivity.
Third quarter financial results reflect a reduction in member acquisition spending pursuant to our cost transformation plan combined with a significant improvement in Medicare agent productivity.
Third quarter net cash used in operating activities improved to $29.6 million from $71.0 million in the third quarter of 2021.
Third quarter Medicare telephonic conversion rates increased over 30% year-over-year reflecting process enhancements in our telesales organization introduced ahead of the AEP.
Online unassisted Medicare Advantage submitted applications grew 18% and partially assisted applications grew 39% year-over-year.
Revenue by Segment
Forward Guidance
eHealth is reiterating guidance for the full year ending December 31, 2022.
Positive Outlook
- Total revenue is expected to be in the range of $375.0 million to $395.0 million.
- GAAP net loss is expected to be in the range of $115.0 million to $92.0 million.
- Adjusted EBITDA is expected to be in the range of $(73.0) million to $(45.0) million.
- Total cash outflow, excluding the impact of our $70.0 million term loan and associated costs and net securities activities, is expected to be in the range of $110.0 million to $90.0 million.
- Company is on track to deliver more than $90 million in total cost savings in 2022 compared to 2021.
Challenges Ahead
- Actual results may be materially different and are affected by the risk factors and uncertainties identified in this press release and in eHealth’s annual and quarterly reports filed with the Securities and Exchange Commission.
- Changes in laws, regulations and guidelines, including in connection with health care reform or with respect to the marketing and sale of Medicare plans.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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