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Ehealth, Inc. (EHTH) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Ehealth, Inc.

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CIK: 1333493 Ticker: EHTH


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eHealth, Inc. Announces Fourth Quarter and Fiscal 2018 Results


Fourth quarter 2018 Overview

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Revenue for the fourth quarter of 2018 was $134.9 million, an increase of 62% compared to $83.1 million for the fourth quarter of 2017.
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Net income for the fourth quarter of 2018 was $26.1 million compared to $28.0 million for the fourth quarter of 2017.
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Adjusted EBITDA for the fourth quarter of 2018 was $51.9 million, an increase of 107% compared to $25.1 million for the fourth quarter of 2017.
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Net cash used in operations for the fourth quarter of 2018 was $8.7 million compared to $10.1 million net cash used in operations for the fourth quarter of 2017.

SANTA CLARA, California — February 21, 2019 —
eHealth, Inc. (NASDAQ: EHTH), a leading private online health insurance exchange, announced today its financial results for the fourth quarter and fiscal year ended December 31, 2018.

Scott Flanders, chief executive officer of eHealth stated, “2018 was a defining year for eHealth in validating our vision and growth strategy for the Medicare market. We delivered the strongest Medicare Annual Enrollment Period in the company’s history, achieved a number of important executional milestones and reported financial results which significantly exceeded our expectations. I am proud of these accomplishments.”

GAAP — Fourth Quarter of 2018 Results

Revenue — Revenue for the fourth quarter of 2018 totaled $134.9 million, a 62% increase compared to $83.1 million for the fourth quarter of 2017. Commission revenue for the fourth quarter of 2018 totaled $122.2 million, a 61% increase compared to $76.1 million for the fourth quarter of 2017. Other revenue for the fourth quarter of 2018 was $12.7 million, a 79% increase compared to $7.1 million for the fourth quarter of 2017.

Revenue from our Medicare segment was $121.6 million for the fourth quarter of 2018, a 74% increase compared to $69.9 million for the fourth quarter of 2017. Revenue from our Individual, Family and Small Business segment was $13.3 million for the fourth quarter of 2018, a 1% increase compared to $13.2 million for the fourth quarter of 2017.

Income from Operations — Income from operations for the fourth quarter of 2018 was $41.6 million compared to income from operations of $20.8 million for the fourth quarter of 2017. Operating margin was 31% for the fourth quarter of 2018 compared to 25% for the fourth quarter of 2017.

Pre-tax Income — Pre-tax income for the fourth quarter of 2018 was $41.6 million compared to pre-tax income of $21.1 million for the fourth quarter of 2017.

Provision (Benefit) for Income Taxes — Provision for income taxes for the fourth quarter of 2018 was $15.6 million compared to benefit for income taxes of $6.9 million for the fourth quarter of 2017.

Net Income — Net income for the fourth quarter of 2018 was $26.1 million, or $1.25 net income per diluted share, compared to net income of $28.0 million, or $1.47 net income per diluted share, for the fourth quarter of 2017. Net income for the fourth quarter of 2018 includes a non-cash charge of $6 million related to an increase in fair value of the earnout liability assumed in connection with eHealth’s acquisition of GoMedigap. The increase is driven primarily by eHealth’s share price appreciation since the transaction closed in January of 2018. The share price appreciation has increased the value of the equity-based portion of the earnout consideration owed to the former holders of GoMedigap equity interests.

Segment Profit — Profit from our Medicare segment was $58.7 million for the fourth quarter of 2018, a 90% improvement compared to profit of $30.9 million for the fourth quarter of 2017. Profit from our Individual, Family and Small Business segment was $3.5 million for the fourth quarter of 2018, a 208% increase compared to $1.1 million for the fourth quarter of 2017.



The following information was filed by Ehealth, Inc. (EHTH) on Thursday, February 21, 2019 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-K Annual 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-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Acquisition
Acquisition - Narrative (Details)
Acquisition - Purchase Price Allocation (Details)
Acquisition (Tables)
Adoption Impact Of New Revenue Standard
Adoption Impact Of New Revenue Standard (Impact On Balance Sheet) (Details)
Adoption Impact Of New Revenue Standard (Impact On Income Statement) (Details)
Adoption Impact Of New Revenue Standard (Impact On Operating Segments) (Details)
Adoption Impact Of New Revenue Standard (Impact On Statements Of Cash Flows) (Details)
Adoption Impact Of New Revenue Standard (Tables)
Balance Sheet Accounts
Balance Sheet Accounts (Narrative) (Details)
Balance Sheet Accounts (Schedule Of Accounts Receivable) (Details)
Balance Sheet Accounts (Schedule Of Cash And Cash Equivalents) (Details)
Balance Sheet Accounts (Schedule Of Intangible Asset Future Amortization Expense) (Details)
Balance Sheet Accounts (Schedule Of Intangible Assets) (Details)
Balance Sheet Accounts (Schedule Of Non-Current Liabilities) (Details)
Balance Sheet Accounts (Schedule Of Other Assets) (Details)
Balance Sheet Accounts (Schedule Of Other Current Liabilities) (Details)
Balance Sheet Accounts (Schedule Of Prepaid Expenses And Other Current Assets) (Details)
Balance Sheet Accounts (Schedule Of Property And Equipment) (Details)
Balance Sheet Accounts (Tables)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Operating Lease) (Details)
Commitments And Contingencies (Schedule Of Future Minimum Obligations) (Details)
Commitments And Contingencies (Tables)
Debt
Debt (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Earnout Activity) (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Income Tax Rate Reconciliation Schedule) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits Schedule) (Details)
Income Taxes (Schedule Of Components Of Pre-Tax Income) (Details)
Income Taxes (Schedule Of Current And Deferred Income Taxes) (Details)
Income Taxes (Schedule Of Deferred Tax Assets, Net) (Details)
Income Taxes (Tables)
Net Income Per Share
Net Income Per Share (Schedule Of Anti-Dilutive Shares Excluded From Computation Of Net Income Per Share) (Details)
Net Income Per Share (Schedule Of Computation Of Basic And Diluted Net Income Per Share) (Details)
Net Income Per Share (Tables)
Operating Segments, Geographic Information And Significant Customers
Operating Segments, Geographic Information And Significant Customers (Details)
Operating Segments, Geographic Information And Significant Customers (Schedule Of Long-Lived Assets By Geographical Area) (Details)
Operating Segments, Geographic Information And Significant Customers (Schedule Of Revenue By Major Customers) (Details)
Operating Segments, Geographic Information And Significant Customers (Tables)
Restructuring Charges
Restructuring Charges (Details)
Restructuring Charges (Tables)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Details)
Selected Quarterly Financial Data (Unaudited) (Tables)
Stockholder's Equity
Stockholder's Equity (Narrative) (Details)
Stockholder's Equity (Schedule Of Fair Value Of Stock Options, Valuation Assumptions) (Details)
Stockholder's Equity (Schedule Of Option Activity Under Stock Plans) (Details)
Stockholder's Equity (Schedule Of Restricted Stock Unit Activity Under Stock Plans) (Details)
Stockholder's Equity (Schedule Of Shares Reserved) (Details)
Stockholder's Equity (Schedule Of Stock Plan Activity) (Details)
Stockholder's Equity (Schedule Of Stock-Based Compensation Expense) (Details)
Stockholder's Equity (Tables)
Subsequent Event
Subsequent Event (Details)
Summary Of Business And Significant Accounting Policies
Summary Of Business And Significant Accounting Policies (Disaggregation Of Revenue) (Details)
Summary Of Business And Significant Accounting Policies (Narrative) (Details)
Summary Of Business And Significant Accounting Policies (Policy)
Summary Of Business And Significant Accounting Policies (Property And Equipment) (Details)
Summary Of Business And Significant Accounting Policies (Tables)
Ticker: EHTH
CIK: 1333493
Form Type: 10-K Annual Report
Accession Number: 0001628280-19-002899
Submitted to the SEC: Wed Mar 13 2019 2:59:05 PM EST
Accepted by the SEC: Thu Mar 14 2019
Period: Monday, December 31, 2018
Industry: Insurance Agents Brokers And Service

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