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Dec 31, 2021
eHealth Q4 2021 Earnings Report
Announced financial results for the fourth quarter and fiscal year ended December 31, 2021.
Key Takeaways
eHealth, Inc. reported a revenue of $243.5 million and a GAAP net loss of $32.2 million for the fourth quarter of 2021. Adjusted EBITDA was $28.2 million. The company is implementing a multi-year transformation initiative to right-size its cost structure and drive future profitability.
Fourth quarter financial results reflected the impact of enrollment quality initiatives on telephonic conversion rates.
Revenue for the fourth quarter of 2021 was $243.5 million, a 17% decrease compared to $293.3 million for the fourth quarter of 2020.
GAAP net loss for the fourth quarter of 2021 was $32.2 million reflecting a $46.3 million impairment charge related to goodwill and intangible assets.
Online unassisted business continued to scale with 53% growth in approved members for Medicare Advantage and Medicare Supplement combined, accompanied by an increase in online conversion rates compared to the fourth quarter of 2020.
Forward Guidance
eHealth provided guidance for the full year ending December 31, 2022. Total revenue is expected to be in the range of $448.0 million to $470.0 million. GAAP net loss is expected to be in the range of $147.0 million to $124.0 million. Adjusted EBITDA is expected to be in the range of $(64.0) million to $(37.0) million. Total cash outflow, excluding the impact of our $70 million term loan and associated costs, is expected to be in the range of $140.0 million to $120.0 million.
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