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eHealth, Inc. Announces Fourth Quarter and Fiscal 2013 Results
Fourth Quarter 2013 Overview
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Revenue of $54.2 million, an increase of 20% compared to the fourth quarter of 2012 |
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Submitted applications for IFP products increased 49.5% from the fourth quarter of 2012 |
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Total estimated members increased 27% from the fourth quarter of 2012 |
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GAAP operating loss of $2.6 million compared to GAAP operating income of $4.3 million for the fourth quarter of 2012 |
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GAAP net loss of $2.0 million, or $(0.11) per diluted share compared to GAAP net income of $2.4 million, or $0.11 per diluted share for the fourth quarter of 2012 |
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Non-GAAP net loss of $0.3 million, or $(0.01) per diluted share, compared to non-GAAP net income of $3.9 million, or $0.18 per diluted share for the fourth quarter of 2012 |
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Cash flows from operations were $6.2 million, an increase of 18% compared to the fourth quarter of 2012 |
MOUNTAIN VIEW, Calif.—February 20, 2014—eHealth, Inc. (NASDAQ: EHTH), the nation’s first and largest private health insurance exchange, announced today its financial results for the fourth quarter and fiscal year ended December 31, 2013.
Gary Lauer, chief executive officer of eHealth stated, “Our quarterly and annual performance reflect strong membership and revenue growth across our key product areas including Individual & Family, Medicare and Ancillary products, as well as increased spend related to the Affordable Care Act implementation and other growth opportunities.”
Fourth Quarter 2013 Results
Revenue—Revenue for the fourth quarter of 2013 totaled $54.2 million, a 20% increase compared to revenue of $45.3 million for the fourth quarter of 2012. Commission revenue for the fourth quarter of 2013 totaled $44.2 million, an 18% increase compared to commission revenue of $37.3 million for the fourth quarter of 2012. Medicare revenue was $16.1 million for the fourth quarter of 2013, an 18% increase compared to Medicare revenue of $13.6 million for the fourth quarter of 2012.
Submitted Applications—Submitted applications for Individual & Family Plan product increased 49.5% in the fourth quarter of 2013 to 169,800 applications, compared to 113,600 applications in the fourth quarter of 2012. Submitted applications for Medicare products increased 68% in the fourth quarter of 2013 to 53,000 applications, compared to 31,600 applications in the fourth quarter of 2012. Submitted applications for Medicare Advantage product increased 37% in the fourth quarter of 2013 to 30,100 applications, compared to 21,900 applications in the fourth quarter of 2012. Approved members for Individual & Family Plan product increased 34% in the fourth quarter of 2013 to 125,300 members, compared to 93,600 members in the fourth quarter of 2012. Total approved members, including individual and family plan, Medicare plan and other product members, increased 43% to 266,600 members in the fourth quarter of 2013, compared to 186,700 in the fourth quarter of 2012.
Membership—Total estimated membership at December 31, 2013 was 1,244,900 members, a 27% increase over estimated membership of 982,900 at December 31, 2012. Estimated individual and family plan membership was 796,100, a 12% increase over estimated membership of 709,700 at December 31, 2012. Estimated Medicare membership was 118,200, a 67% increase over estimated membership of 70,600 at December 31, 2012.
Income (Loss) from Operations—Operating loss for the fourth quarter of 2013 was $2.6 million, compared to operating income of $4.3 million for the fourth quarter of 2012. Operating margins were (5)% and 10% in the
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Ehealth, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2014 10-K Annual Report includes:
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Ehealth, Inc. provided additional information to their SEC Filing as exhibits
Ticker: EHTH
CIK: 1333493
Form Type: 10-K Annual Report
Accession Number: 0001333493-14-000029
Submitted to the SEC: Wed Mar 12 2014 4:19:46 PM EST
Accepted by the SEC: Wed Mar 12 2014
Period: Tuesday, December 31, 2013
Industry: Insurance Agents Brokers And Service