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Sep 30, 2024
GoHealth Q3 2024 Earnings Report
GoHealth's Q3 2024 performance reflected a strategic transformation towards a Medicare engagement company, marked by revenue decrease, increased submissions, net income improvement, and strategic acquisition of e-TeleQuote.
Key Takeaways
GoHealth reported a decrease in net revenues to $118.3 million, but net income improved significantly to $15.4 million. Submissions increased by 2.9% to 166,195. The company completed the acquisition of e-TeleQuote, which added $90.5 million in contract assets and $22.5 million in cash, and recorded a $77.4 million gain on bargain purchase.
Net revenues for Q3 2024 were $118.3 million, a decrease of $13.7 million year-over-year.
Submissions for Q3 2024 increased by 2.9% to 166,195.
Net income for Q3 2024 was $15.4 million, a significant improvement from a net loss of $56.2 million in the prior year period.
The acquisition of e-TeleQuote added $90.5 million in contract assets and $22.5 million in cash, with a gain on bargain purchase of $77.4 million.
Revenue by Segment
Forward Guidance
GoHealth is seeing unprecedented disruption, with over two million consumers losing coverage and more than six million experiencing reduced benefits.
Positive Outlook
- Investments in AI-driven technology
- Expanded agent network
- Focus on consumer engagement
- Positioned to lead through market changes
- Delivering both growth and improved customer experience
Challenges Ahead
- Over two million consumers losing coverage
- More than six million experiencing reduced benefits
- Broader market challenges
- Competitive landscape shifts
- Revenue decrease
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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