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Dec 31, 2020
eHealth Q4 2020 Earnings Report
Announced fourth quarter and fiscal year 2020 results, demonstrating progress in building capabilities and positioning for future market opportunities.
Key Takeaways
eHealth, Inc. reported a decrease in revenue for the fourth quarter of 2020, totaling $293.3 million, a 3% decrease compared to the fourth quarter of 2019. GAAP net income for the quarter was $59.9 million, a 33% decrease compared to the same period in the previous year. The company made investments in its e-commerce platform and implemented a program to improve member retention.
Revenue for the fourth quarter of 2020 was $293.3 million, a 3% decrease compared to $301.7 million for the fourth quarter of 2019.
GAAP net income for the fourth quarter of 2020 was $59.9 million compared to net income of $88.8 million for the fourth quarter of 2019.
Adjusted EBITDA was $84.2 million for the fourth quarter of 2020 compared to $142.6 million for the fourth quarter of 2019.
Fourth quarter 2020 approved members for Medicare Advantage products of 217,278, a 30% increase compared to the fourth quarter of 2019.
Revenue by Segment
Forward Guidance
eHealth is providing its guidance for the full year ending December 31, 2021, excluding the potential impact from the agreement with H.I.G. Capital for a $225 million investment announced on January 29, 2021.
Positive Outlook
- Total revenue is expected to be in the range of $660.0 million to $700.0 million.
- Revenue from the Medicare segment is expected to be in the range of $621.0 million to $659.0 million.
- Revenue from the Individual, Family and Small Business segment is expected to be in the range of $39.0 million to $41.0 million.
- GAAP net income is expected to be in the range of $42.0 million to $57.0 million.
- Adjusted EBITDA is expected to be in the range of $100.0 million to $115.0 million.
Challenges Ahead
- Medicare segment profit is expected to be in the range of $138.0 million to $155.0 million.
- Individual, Family and Small Business segment profit is expected to be in the range of $18.0 million to $19.0 million.
- Corporate shared service expenses, excluding stock-based compensation and depreciation and amortization expense, is expected to be in the range of $56.0 million to $59.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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