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Jun 30
GoHealth Q2 2025 Earnings Report
GoHealth reported its second quarter 2025 financial results, highlighting strategic capital and governance actions to enhance financial flexibility and long-term positioning.
Key Takeaways
GoHealth experienced a challenging second quarter in 2025 with a significant net loss and a decrease in revenue compared to the prior year. The company undertook strategic capital and governance actions, including securing new term loans and amending existing credit agreements, to improve financial flexibility and support future operations, particularly heading into the Medicare annual enrollment period. Despite a decline in submissions and sales per submission, the company aims to strengthen its position in a consolidating industry.
GoHealth reported a net loss of $115.989 million in Q2 2025, a substantial increase from the $59.314 million loss in Q2 2024.
Total net revenues decreased by 11.2% to $94.048 million in Q2 2025, down from $105.870 million in Q2 2024.
The company secured new senior secured superpriority term loans totaling $115 million and amended its existing credit agreement to waive near-term principal payments through 2026, aiming to enhance liquidity and financial flexibility.
Operating income showed a significant loss of $99.386 million in Q2 2025, compared to a loss of $40.610 million in the same period last year, largely due to a $53 million intangible asset impairment charge.
GoHealth
GoHealth
GoHealth Revenue by Segment
Revenue by Segment
Medicare Agency Revenue
CapyFin.comMedicare Non-Agency Revenue
CapyFin.comOther Non-Agency Revenue
CapyFin.comOther Agency Revenue
CapyFin.com Forward Guidance
GoHealth expects the recently secured strategic capital and governance actions to significantly enhance its financial flexibility and long-term positioning, allowing it to maintain compliance with debt covenants and fund operations for the next 12 months and beyond. The company plans to pursue disciplined growth and assess transformative opportunities in the Medicare market.
Positive Outlook
- Secured $80.0 million in new-money term loans and $35.0 million in roll-up loans to support working capital and strategic flexibility.
- Amended existing credit agreement to waive near-term principal payments through 2026 and reset financial covenants, providing important financial flexibility.
- Created debt basket capacity of up to $250.0 million under the new superpriority term loan facility and amended credit agreement to pursue potential transformative transactions.
- Appointed three new directors to the board, aligning governance with forward-looking strategic direction.
- Believes it is operating from a position of strength to continue serving the Medicare market and pursue disciplined growth.
Challenges Ahead
- The financial results included in the press release are preliminary and subject to finalization of intangible asset impairment charges.
- The company's ability to realize expectations with respect to strategic actions is not guaranteed.
- Future performance is subject to risks, assumptions, and uncertainties that are difficult to predict.
- Actual results may prove to be materially different from the results expressed or implied by forward-looking statements.
- The company's level of indebtedness and liquidity are important factors that could cause actual results to differ materially.