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Ehealth, Inc. (EHTH) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

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Ehealth, Inc.

CIK: 1333493 Ticker: EHTH
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eHealth, Inc. Announces Third Quarter 2022 Results

SANTA CLARA, California — November 7, 2022 —
eHealth, Inc. (Nasdaq: EHTH), a leading private online health insurance marketplace, today announced its financial results for the third quarter ended September 30, 2022.
Third Quarter 2022 Overview
$53.4M$(39.1)M$(33.1)M
TOTAL REVENUEGAAP NET LOSS
ADJUSTED EBITDA(1)
$(29.6)M18% YoY$785.8M
OPERATING CASH FLOW
MEDICARE ADVANTAGE APPLICATIONS SUBMITTED UNASSISTED ONLINE
COMMISSIONS RECEIVABLE BALANCE
Third Quarter 2022 Highlights
Third quarter financial results reflect a reduction in member acquisition spending pursuant to our cost transformation plan combined with a significant improvement in Medicare agent productivity.
Third quarter net cash used in operating activities improved to $29.6 million from $71.0 million in the third quarter of 2021. Net cash used in operating activities for the first nine months of 2022 improved to $8.3 million from $60.3 million in the first nine months of 2021.
Third quarter Medicare telephonic conversion rates increased over 30% year-over-year reflecting process enhancements in our telesales organization introduced ahead of the AEP.
We are on track to deliver more than $90 million in total cost savings in 2022 compared to 2021.
Our omnichannel enrollment platform continues to scale. Online unassisted Medicare Advantage submitted applications grew 18% and partially assisted applications grew 39% year-over-year. The combination of assisted and unassisted online Medicare Advantage applications represented 59% of total submitted Medicare Advantage applications in the third quarter.
We had $164.7 million in cash, cash equivalents and marketable securities and $785.8 million of total commissions receivable as of September 30, 2022.
CEO Comments
“I began my tenure at eHealth one year ago. Since then, we have assembled a new leadership team and have put in place significant operational improvements across all critical areas of the organization. While we still have work to do, our third quarter results showcase the impact of these efforts. During the quarter, we generated similar Medicare enrollment volumes to a year ago while reducing member acquisition spend by 35% through higher agent productivity and more effective marketing campaigns. We are also pleased with our performance in the first weeks of the Annual Enrollment Period, which to this point reflects another meaningful increase in agent productivity compared to last year.”
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(1)See Non-GAAP Financial Information for definitions of our non-GAAP financial measures.

1

The following information was filed by Ehealth, Inc. (EHTH) on Monday, November 7, 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
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)
Impairment, Restructuring And Other Charges
Impairment, Restructuring And Other Charges (Tables)
Impairment, Restructuring And Other Charges - Impairment, Restructuring And Other Charges (Recoveries) (Details)
Impairment, Restructuring And Other Charges - Narrative (Details)
Impairment, Restructuring And Other Charges - Restructuring And Other Liabilities (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)
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 (Details)
Summary Of Business And Significant Accounting Policies (Policies)
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: 0001333493-22-000143
Submitted to the SEC: Tue Nov 08 2022 5:08:21 PM EST
Accepted by the SEC: Tue Nov 08 2022
Period: Friday, September 30, 2022
Industry: Insurance Agents Brokers And Service

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