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Dec 31, 2022
NeueHealth Q4 2022 Earnings Report
Reported fourth quarter and full year 2022 results, focusing on continuing business anchored by Consumer Care and Bright HealthCare segments, and successfully exited ACA insurance business.
Key Takeaways
Bright Health Group reported Q4 2022 results with revenue of $551.4 million and a net loss of $188.2 million. The company is focusing on its Consumer Care and Bright HealthCare segments after exiting its ACA insurance business.
Q4 2022 revenue from continuing business was $551.4 million.
Q4 2022 net loss from continuing business was $188.2 million.
Q4 2022 adjusted EBITDA loss from continuing business was $108.5 million.
The company is maintaining its expectation for 2023 adjusted EBITDA profitability.
NeueHealth
NeueHealth
Forward Guidance
Bright Health Group's 2023 outlook remains consistent with the update provided in January 2023, but the company's expectation for Revenue is now lower due to our finalized accounting treatment on certain value-based care contracts. Operating Cost expectations are unchanged, but is now forecast to be a higher percent of Revenue.
Positive Outlook
- Enterprise Revenue is expected to be between $2.9 billion and $3.1 billion.
- Bright HealthCare Revenue is expected to be greater than $1.8 billion.
- Consumer Care Revenue is expected to be between $1.1 billion and $1.3 billion.
- Enterprise Adjusted Operating Cost Ratio is expected to be between 13% and 14%.
- Bright Health Group expects to be Adjusted EBITDA profitable in 2023