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Ehealth, Inc. (EHTH) SEC Filing 10-Q Quarterly Report for the period ending Friday, March 31, 2023

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Ehealth, Inc.

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CIK: 1614067 Ticker: EHTH
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eHealth, Inc. Announces First Quarter 2023 Results

Strong first quarter performance reflects positive impact of ongoing transformation plan
Continued positive trends in unit economics drive YoY Q1 profitability improvement
$12.9M improvement in net loss and $12.2M improvement in adjusted EBITDA YoY
29% increase in cash flow from operations YoY

SANTA CLARA, California — May 9, 2023 —
eHealth, Inc. (Nasdaq: EHTH), a leading private online health insurance marketplace, today announced its financial results for the first quarter ended March 31, 2023.

CEO Comments
“We delivered strong first quarter performance, reflecting the positive impact of the transformation plan that we started to implement in Q2 of 2022. We entered the first quarter of this year on a significantly improved cost foundation compared to the first quarter of last year while continuing to enhance our telesales conversions, member economics and enrollment quality. eHealth observed another 50% year-over-year decrease in its CTM rates from Q1 2022 to Q1 2023 based on data available to-date. Many of our key carrier partners have recognized this important service improvement. Based on our encouraging first quarter results, we are reaffirming the guidance ranges we gave on last quarter’s earnings call for 2023. Our year-to-date performance has put us in a strong position as we continue to execute on our strategic and operational goals. We look forward to sharing more information about our business, strategy, and longer-term financial goals at our investor day, on May 18th.” – Fran Soistman, Chief Executive Officer

Results Overview
■Q1 2023 revenue decreased 30% to $73.7 million compared to $105.3 million in Q1 2022 demonstrating eHealth's focus on profitable growth versus top-line growth at any cost.
■Q1 2023 total operating costs and expenses decreased 33% to $96.6 million compared to $145.0 million in Q1 2022 driven by significant fixed and variable cost reduction as a result of our cost transformation efforts.
■Q1 2023 net loss of $19.9 million improved $12.9 million compared to Q1 2022.
■Q1 2023 Adjusted EBITDA(1) of $(12.7) million improved $12.2 million compared to Q1 2022 on a lower revenue base.
■Q1 2023 cash flow from operations of $60.8 million compared to $47.1 million in Q1 2022, a 29% increase.
■$202.7 million in cash, cash equivalents and marketable securities as of March 31, 2023.
■Unit economics continue to improve on a year-over-year basis with total acquisition costs per MA-equivalent approved member down 22% compared to Q1 2022.
■Customer care and enrollment expense per MA-equivalent approved member down 15% year-over-year.
■Variable marketing cost per MA-equivalent approved member down 27% year-over-year.
■Q1 2023 telephonic conversion rates continued to improve on a year-over-year basis, increasing 21% compared to Q1 2022.
__________
Note: See tables at the end of this press release for a reconciliation of our GAAP financial measures to our non-GAAP financial measures for the relevant periods and footnote (1) on page 12 at the end of this press release for definitions of our non-GAAP financial measures.

1
The following information was filed by Ehealth, Inc. (EHTH) on Tuesday, May 9, 2023 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
Commitment And Contingencies - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Schedule Of Future Minimum Obligations (Details)
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 Cash, Cash Equivalents And Restricted Cash (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)

Material Contracts, Statements, Certifications & more

Ehealth, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: EHTH
CIK: 1333493
Form Type: 10-Q Quarterly Report
Accession Number: 0001333493-23-000063
Submitted to the SEC: Tue May 09 2023 4:36:11 PM EST
Accepted by the SEC: Tue May 09 2023
Period: Friday, March 31, 2023
Industry: Insurance Agents Brokers And Service

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