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

Ehealth, Inc.

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CIK: 1333493 Ticker: EHTH

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eHealth, Inc. Announces Third Quarter 2021 Results

SANTA CLARA, California — November 8, 2021 —
eHealth, Inc. (Nasdaq: EHTH), a leading private online health insurance marketplace, today announced its financial results for the third quarter ended September 30, 2021.
$63.9M$(53.0)M$(55.2)M
REVENUEGAAP NET LOSS
ADJUSTED EBITDA (1) (2)
(18)%
YoY+58%YoY+88 %YoY
MEDICARE ADVANTAGE APPROVED MEMBERS
MAJOR MEDICARE (3) APPLICATIONS SUBMITTED ONLINE UNASSISTED
INDIVIDUAL AND FAMILY PLAN APPROVED MEMBERS
Third Quarter 2021 Overview
•Third quarter financial results reflected the impact of our enrollment quality initiatives on telephonic conversion rates.
•Revenue for the third quarter of 2021 was $63.9 million, a 32% decrease compared to $94.3 million for the third quarter of 2020.
•Medicare Advantage LTVs of $975 or a 9% increase compared to the third quarter of 2020.
•GAAP net loss for the third quarter of 2021 was $53.0 million compared to $14.5 million for the third quarter of 2020.
•Adjusted EBITDA(1)(2) was $(55.2) million for the third quarter of 2021 compared to $(11.2) million for the third quarter of 2020 reflecting lower revenue and an earlier start of our investment in scaling our internal Medicare agent force for the annual enrollment period this year.
•Online unassisted business continued to scale with strong enrollment growth and an increase in conversion rates year-over-year
•Over 195,000 individuals have created accounts at our Customer Center since its launch in October of 2020.

CEO Comments
I joined eHealth based on my deep appreciation for the Company’s unique customer-centric platform and a strong belief in the significant opportunities ahead of us. We are harnessing powerful secular trends that we believe will help drive the company’s growth and value creation. Our digital platform provides eHealth with a strong competitive advantage as seniors’ and consumers of all ages continue to adopt the internet for research, social interaction, shopping, and other daily needs including healthcare, a trend that has been accelerated by the global COVID pandemic. I see our consumer-centric omni-channel marketplace as the health insurance distribution model of the future which is aligned with the evolving needs and preferences of our customers. While the company has faced some setbacks over the past year, I am confident in our ability to navigate these short-term challenges under new leadership, leveraging my healthcare and Medicare industry expertise with a particular focus on driving operational efficiency and excellence. – Fran Soistman
_____________

(1)See the Non-GAAP Financial Information section for definitions of our non-GAAP financial measures. We 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 $3.4 million and $2.1 million for the third quarter 2021 and 2020, respectively, and $9.1 million and $5.3 million for the nine months ended September 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.

1
The following information was filed by Ehealth, Inc. (EHTH) on Monday, November 8, 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 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 Information (Details)
Net Loss Per Share Attributable To Common Stockholders
Net Loss Per Share Attributable To Common Stockholders (Tables)
Net Loss Per Share Attributable To Common Stockholders - Computation Of Basic And Diluted Net Loss Per Share (Details)
Net Loss Per Share Attributable To Common Stockholders - Schedule Of Anti-Dilutive Shares Excluded From Computation Of Net Income Per Share (Details)
Restructuring And Reorganization
Restructuring And Reorganization (Tables)
Restructuring And Reorganization - Narrative (Details)
Restructuring And Reorganization - Restructuring And Other Liabilities (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: 0001333493-21-000167
Submitted to the SEC: Mon Nov 08 2021 5:29:17 PM EST
Accepted by the SEC: Mon Nov 08 2021
Period: Thursday, September 30, 2021
Industry: Insurance Agents Brokers And Service

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