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Jun 30, 2023
GoHealth Q2 2023 Earnings Report
GoHealth's Q2 2023 earnings were reported, revealing a mix of improvements and declines.
Key Takeaways
GoHealth reported a decrease in net revenues but an improvement in net loss and Adjusted EBITDA for Q2 2023. The company is updating its full year 2023 outlook and expects total net revenue of $800 - $850 million and Adjusted EBITDA of $120 - $140 million, both excluding non-Encompass BPO Services.
Net revenues decreased to $142.8 million compared to the prior year period.
Submissions increased by 5% compared to the prior year period.
Net loss improved to $70.2 million compared to the prior year period.
Adjusted EBITDA improved to $0.8 million compared to the prior year period.
GoHealth
GoHealth
Forward Guidance
The Company updates its full year 2023 outlook and expects total net revenue of $800 - $850 million and Adjusted EBITDA of $120 - $140 million, both excluding non-Encompass BPO Services. The Company also expects positive cash flow from operations of $75 - $115 million.
Positive Outlook
- Total net revenue expected to be $800 - $850 million (excluding non-Encompass BPO Services).
- Adjusted EBITDA expected to be $120 - $140 million (excluding non-Encompass BPO Services).
- Positive cash flow from operations expected to be $75 - $115 million.
- Guidance updates reflect increases to the lower bounds previously communicated for total net revenue and Adjusted EBITDA ranges.
- Company is committed to enhancing the consumer experience through Encompass.