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Ehealth, Inc. (EHTH) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Ehealth, Inc.

CIK: 1333493 Ticker: EHTH

ehealthlogoa01a02a01a01a63a.jpg
eHealth, Inc. Announces Second Quarter 2021 Results

SANTA CLARA, California — July 29, 2021 —
eHealth, Inc. (Nasdaq: EHTH), a leading private online health insurance marketplace, today announced its financial results for the second quarter ended June 30, 2021.

$96.6M+9%YoY$(13.0)M$(18.4)M
REVENUEREVENUE GROWTH
ADJUSTED EBITDA(1)(2)
GAAP NET LOSS
+30 %YoY+80 %YoY+78 %YoY
MEDICARE ADVANTAGE APPROVED MEMBERSMAJOR MEDICAL MEDICARE APPLICATIONS SUBMITTED FULLY ONLINEINDIVIDUAL AND FAMILY PLAN APPROVED MEMBERS
Second Quarter 2021 Overview
Revenue for the second quarter of 2021 was $96.6 million, a 9% increase compared to $88.8 million for the second quarter of 2020.
GAAP net loss for the second quarter of 2021 was $18.4 million compared to $3.4 million for the second quarter of 2020.
Adjusted EBITDA(1)(2) was $(13.0) million for the second quarter of 2021 compared to $3.4 million for the second quarter of 2020 reflecting significant investment in scaling our internal Medicare agent force.
Second quarter 2021 approved members for Medicare Advantage products was 78,569, a 30% increase compared to 60,477 for the second quarter of 2020.
Online business continued to scale with 38% of major medical Medicare applications submitted online in the second quarter of 2021 compared to 30% in the second quarter of 2020.(3)
Customer Center accounts topped 143,000 since its launch in October of 2020.

CEO Comments
Second quarter results were strong, with revenue, profitability and Medicare Advantage enrollments exceeding our expectations. During the quarter, we made significant progress toward expanding and enhancing our telesales organization, continued to scale our digital business and saw positive trends in our under-65 business.
_____________

(1)See the Non-GAAP Financial Information section for definitions of our non-GAAP financial measures. We have revised the definition of Non-GAAP net income, non-GAAP net income per diluted share and Adjusted EBITDA in the second quarter of 2021 to exclude the impact from the convertible preferred stock issued on April 30, 2021.
(2)Effective with the first quarter of 2021, we modified our calculation of adjusted EBITDA to exclude the amortization of capitalized software development costs. The amortization of capitalized software development costs were $2.9 million and $1.7 million for the second quarter 2021 and 2020, respectively, and $5.7 million and $3.2 million for the six months ended June 30, 2021 and 2020, respectively. The modified calculation is intended to more closely align with how our peer companies calculate this non-GAAP financial measure. See Revised Adjusted EBITDA Reconciliation for additional information.
(3)Major Medicare plans include Medicare Advantage and Medicare Supplement plans. Online submission % represents a combination of unassisted and partially agent-assisted online applications.
1

The following information was filed by Ehealth, Inc. (EHTH) on Thursday, July 29, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ehealth, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Stockholders' Equity
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Convertible Preferred Stock
Convertible Preferred Stock (Tables)
Convertible Preferred Stock - Narrative (Details)
Convertible Preferred Stock - Summary Of Stock (Details)
Debt
Debt (Details)
Equity
Equity (Tables)
Equity - Narrative (Details)
Equity - Schedule Of Stock-Based Compensation Expense (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Contractual Maturities (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Summary Of Financial Assets (Details)
Fair Value Measurements - Unrealized Gains And Losses (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Summary Of Income Tax Benefit (Details)
Leases
Leases (Tables)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Information (Details)
Net Income (Loss) Per Share Attributable To Common Stockholders
Net Income (Loss) Per Share Attributable To Common Stockholders (Tables)
Net Income (Loss) Per Share Attributable To Common Stockholders - Computation Of Basic And Diluted Net Income Per Share (Details)
Net Income (Loss) Per Share Attributable To Common Stockholders - Schedule Of Anti-Dilutive Shares Excluded From Computation Of Net Income Per Share (Details)
Restructuring
Restructuring (Details)
Revenue
Revenue (Tables)
Revenue - Commission Revenue By Segment (Details)
Revenue - Disaggregation Of Revenue (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Schedule Of Long-Lived Assets By Geographical Area (Details)
Segment And Geographic Information - Schedule Of Revenue By Major Customers (Details)
Segment And Geographic Information - Segment Operating Results (Details)
Summary Of Business And Significant Accounting Policies
Summary Of Business And Significant Accounting Policies (Policies)
Summary Of Business And Significant Accounting Policies - Narrative (Details)
Supplemental Financial Statement Information
Supplemental Financial Statement Information (Tables)
Supplemental Financial Statement Information - Narrative (Details)
Supplemental Financial Statement Information - Schedule Of Allowance For Credit Loss (Details)
Supplemental Financial Statement Information - Schedule Of Commissions Receivable (Details)
Supplemental Financial Statement Information - Schedule Of Credit Risk (Details)
Supplemental Financial Statement Information - Schedule Of Prepaid Expenses And Other Current Assets (Details)
Supplemental Financial Statement Information- Schedule Of Cash, Cash Equivalents And Restricted Cash (Details)
Ticker: EHTH
CIK: 1333493
Form Type: 10-Q Quarterly Report
Accession Number: 0001333493-21-000132
Submitted to the SEC: Fri Aug 06 2021 7:08:45 PM EST
Accepted by the SEC: Mon Aug 09 2021
Period: Wednesday, June 30, 2021
Industry: Insurance Agents Brokers And Service

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