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Ehealth, Inc. (EHTH) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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CIK: 1333493 Ticker: EHTH
ehealthlogoa01a02a01a01a63.jpg
eHealth, Inc. Announces First Quarter 2022 Results

SANTA CLARA, California — May 3, 2022 —
eHealth, Inc. (Nasdaq: EHTH), a leading private online health insurance marketplace, today announced its financial results for the first quarter ended March 31, 2022.
First Quarter 2022 Overview
$105.3M$(32.7)M$(24.8)M
TOTAL REVENUEGAAP NET LOSS
ADJUSTED EBITDA (1)
$47.1M+50%YoY$831.2M
OPERATING CASH FLOW
MEDICARE ADVANTAGE APPLICATIONS SUBMITTED ONLINE UNASSISTED
COMMISSIONS RECEIVABLE BALANCE
First Quarter 2022 Highlights
•First quarter financial results reflected the impact of our enrollment quality initiatives on telephonic conversion rates and intentional deceleration of our telephonic enrollment in 2022 as we focus on returning to profitable growth.
•Enrollment quality initiatives resulted in substantial improvement in retention rates and quality scores for the fourth quarter 2021 Medicare Advantage enrollments, based on preliminary data.
•Online business continues to scale with 50% year-over-year increase in online unassisted Medicare Advantage enrollments.
•Total revenue for the first quarter of 2022 was $105.3 million, a 22% decrease compared to $134.2 million for the first quarter of 2021.
•Cash flow from operations of $47.1 million.
•As of March 31, 2022, we had $232 million in cash, cash equivalents and marketable securities.
•Estimated Medicare Advantage membership and total Medicare membership as of March 31, 2022 grew 9% and 4%, respectively, compared to March 31, 2021.

CEO Comments
We delivered first quarter results with revenue in-line and adjusted EBITDA ahead of our expectations driven by the early impact of cost transformation initiatives. As part of our commitment to returning the company to profitable growth, we are currently on track to generate approximately $60 million in annualized cost savings this year. In line with our strategic plan, we are slowing down our conventional telephonic enrollment growth while continuing to invest for expansion and market share capture in our online business.
 
Providing excellent service and leveraging our platform to match customers with optimal coverage based on their specific needs is at the center of our strategy. The initial traction we are seeing through the early part of fiscal 2022 in terms of retention and quality scores combined with positive carrier feedback reinforces our belief that eHealth can establish itself as a leader in Medicare distribution as this market moves away from volume at-all-costs and toward growth built on a foundation of enrollment quality, enhanced consumer experience and cash flow generation.
_____________

(1)See the Non-GAAP Financial Information section for definitions of our non-GAAP financial measures.

1
The following information was filed by Ehealth, Inc. (EHTH) on Tuesday, May 3, 2022 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 - Narrative (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: 0001333493-22-000061
Submitted to the SEC: Fri May 06 2022 4:32:46 PM EST
Accepted by the SEC: Fri May 06 2022
Period: Thursday, March 31, 2022
Industry: Insurance Agents Brokers And Service

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