Q2 2025 Financial Results ©2025 eHealthInsurance Services, Inc. 1 Safe Harbor Statement Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this presentation include, but are not limited to, the following: our expectations regarding our business, industry, regulatory and market trends, incl ...

Q2 2025 Performance Highlights & CEO Commentary [Q2 2025 Results Overview](index=1&type=section&id=1.1%20Q2%202025%20Results%20Overview) eHealth reported a strong Q2 2025, exceeding revenue and profitability expectations despite an 8% decrease in total revenue year-over-year to $60.8 million, driven by increased net adjustment revenue and reduced operating costs | Metric | Q2 2025 (in millions) | Q2 2024 (in millions) | Change (%) | | :------------------------------------- | :---------- | :---------- | :--------- | | Total Revenue | $60.8 | $65.9 | (8)% | | Net Adjustment Revenue | $17.8 | $11.5 | 54.8% | | Non-GAAP Total Revenue (excl. adj. rev) | $43.0 | $54.4 | (21)% | | Total Operating Costs & Expenses | $83.8 | $93.8 | (11)% | | GAAP Net Loss | $(17.4) | $(28.0) | 38% improvement | | Non-GAAP Net Loss | $(29.7) | $(34.3) | 13.4% improvement | | Adjusted EBITDA | $(14.1) | $(15.5) | 9% improvement | | MA Constrained LTV | +1% | | | | Medicare Supplement Constrained LTV | +29% | | | [CEO Commentary](index=1&type=section&id=1.2%20CEO%20Commentary) CEO Fran Soistman highlighted eHealth's strong Q2 performance, exceeding expectations and demonstrating adaptability, with updated 2025 annual guidance and preparations for a dynamic Medicare Annual Enrollment Period - eHealth delivered a **strong second quarter**, exceeding revenue and profitability expectations[2](index=2&type=chunk) - Updated **2025 annual guidance ranges** based on year-to-date performance[2](index=2&type=chunk) - Anticipates a dynamic Medicare Annual Enrollment Period (AEP) with **elevated consumer shopping activity** due to recent industry developments[2](index=2&type=chunk) - eHealth aims to differentiate itself as a trusted Medicare advisor with broad plan selection, omni-channel platform, and distinct brand[2](index=2&type=chunk) [2025 Financial Guidance Update](index=3&type=section&id=2025%20Financial%20Guidance%20Update) eHealth revised its full-year 2025 financial guidance upwards, reflecting strong year-to-date performance, with higher ranges for total revenue, GAAP net income, and Adjusted EBITDA, while operating cash flow guidance remains consistent | Metric | Previous Guidance (Low, in millions) | Previous Guidance (High, in millions) | Revised Guidance (Low, in millions) | Revised Guidance (High, in millions) | | :----------------------- | :---------------------- | :----------------------- | :--------------------- | :---------------------- | | Total Revenue | $510.0 | $550.0 | $525.0 | $565.0 | | GAAP Net Income (Loss) | $(10.0) | $15.0 | $5.0 | $26.0 | | Adjusted EBITDA | $35.0 | $60.0 | $55.0 | $75.0 | | Operating Cash Flow | $(25.0) | $10.0 | $(25.0) | $10.0 | | Net Adjustment Revenue | $11.0 | $20.0 | $29.0 | $32.0 | Condensed Consolidated Financial Statements [Condensed Consolidated Balance Sheets](index=6&type=section&id=3.1%20Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets decreased to $1,079.7 million from $1,155.4 million, primarily due to lower contract assets and accounts receivable, while total liabilities also significantly decreased | Balance Sheet Item | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | | :----------------------------------- | :--------------------------- | :------------------------------- | :-------------------- | | Cash and cash equivalents | $65,920 | $39,197 | +$26,723 | | Short-term marketable securities | $39,280 | $43,043 | -$3,763 | | Accounts receivable | $1,856 | $16,807 | -$14,951 | | Contract assets – commissions receivable – current | $209,654 | $242,467 | -$32,813 | | Contract assets – commissions receivable – non-current | $707,337 | $757,523 | -$50,186 | | Total assets | $1,079,711 | $1,155,425 | -$75,714 | | Accounts payable | $5,748 | $23,448 | -$17,700 | | Accrued compensation and benefits | $17,054 | $43,888 | -$26,834 | | Short term debt | $69,087 | — | +$69,087 | | Long-term debt | — | $68,458 | -$68,458 | | Total liabilities | $165,878 | $229,488 | -$63,610 | | Total stockholders' equity | $554,923 | $588,428 | -$33,505 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=3.2%20Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2025, total revenue decreased 8% to $60.8 million, but total operating costs and expenses decreased by 11%, leading to an 18% improvement in loss from operations and a 38% improvement in GAAP net loss | Metric (in thousands) | Q2 2025 | Q2 2024 | % Change (QoQ) | YTD 2025 | YTD 2024 | % Change (YTD) | | :----------------------------------- | :-------- | :-------- | :------------- | :--------- | :--------- | :------------- | | Commission Revenue | $54,731 | $56,847 | (4)% | $153,677 | $137,774 | 12% | | Other Revenue | $6,051 | $9,009 | (33)% | $20,224 | $21,046 | (4)% | | Total Revenue | $60,782 | $65,856 | (8)% | $173,901 | $158,820 | 9% | | Marketing and advertising | $21,425 | $26,783 | (20)% | $62,614 | $65,520 | (4)% | | Customer care and enrollment | $27,910 | $28,551 | (2)% | $65,131 | $61,452 | 6% | | Technology and content | $11,354 | $13,044 | (13)% | $23,955 | $26,349 | (9)% | | General and administrative | $21,582 | $22,402 | (4)% | $38,892 | $42,021 | (7)% | | Impairment, restructuring and other charges | $1,555 | $3,035 | (49)% | $1,555 | $9,348 | (83)% | | Total Operating Costs and Expenses | $83,826 | $93,815 | (11)% | $192,147 | $204,690 | (6)% | | Loss from Operations | $(23,044) | $(27,959) | 18% improvement | $(18,246) | $(45,870) | 60% improvement | | Net Loss | $(17,398) | $(27,968) | 38% improvement | $(15,448) | $(44,952) | 66% improvement | | Net Loss Attributable to Common Stockholders | $(29,783) | $(38,988) | 24% improvement | $(39,755) | $(66,699) | 40% improvement | | Basic and Diluted EPS | $(0.98) | $(1.33) | 26% improvement | $(1.32) | $(2.29) | 42% improvement | | Adjusted EBITDA | $(14,142) | $(15,540) | 9% improvement | $(1,621) | $(17,192) | 91% improvement | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=3.3%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash provided by operating activities was $35.9 million, while investing activities used $4.6 million, and overall cash, cash equivalents, and restricted cash increased by $26.7 million year-to-date | Cash Flow Item (in thousands) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :------------------------------------------ | :-------- | :-------- | :--------- | :--------- | | Net cash provided by (used in) operating activities | $(41,204) | $(32,182) | $35,917 | $38,579 | | Net cash used in investing activities | $(10,119) | $(13,448) | $(4,647) | $(23,735) | | Net cash used in financing activities | $(3,844) | $(2,982) | $(4,543) | $(4,241) | | Net increase (decrease) in cash, cash equivalents and restricted cash | $(55,172) | $(48,642) | $26,723 | $10,622 | | Cash, cash equivalents and restricted cash at end of period | $69,010 | $129,434 | $69,010 | $129,434 | Segment Performance Analysis [Medicare Segment](index=9&type=section&id=4.1%20Medicare%20Segment) The Medicare segment's total revenue decreased by 2% in Q2 2025 but increased by 14% year-to-date, with gross profit significantly increasing by 26% in Q2 due to reduced variable marketing and advertising expenses | Metric (in thousands) | Q2 2025 | Q2 2024 | % Change (QoQ) | YTD 2025 | YTD 2024 | % Change (YTD) | | :----------------------------------- | :-------- | :-------- | :------------- | :--------- | :--------- | :------------- | | Total Revenue | $58,059 | $59,248 | (2)% | $161,728 | $141,636 | 14% | | Variable marketing and advertising | $(13,800) | $(18,270) | 24% | $(47,553) | $(48,518) | 2% | | Medicare CC&E | $(25,078) | $(25,685) | 2% | $(59,547) | $(55,634) | (7)% | | Medicare segment gross profit | $19,145 | $15,204 | 26% | $54,892 | $37,252 | 47% | [Employer and Individual (E&I) Segment](index=9&type=section&id=4.2%20Employer%20and%20Individual%20(E%26I)%20Segment) The Employer and Individual (E&I) segment experienced a substantial 59% decline in total revenue in Q2 2025 to $2.7 million, resulting in a significant 107% decrease in segment gross profit, turning into a loss | Metric (in thousands) | Q2 2025 | Q2 2024 | % Change (QoQ) | YTD 2025 | YTD 2024 | % Change (YTD) | | :----------------------------------- | :-------- | :-------- | :------------- | :--------- | :--------- | :------------- | | Total Revenue | $2,723 | $6,608 | (59)% | $12,173 | $17,184 | (29)% | | Variable marketing and advertising | $(717) | $(698) | (3)% | $(1,907) | $(1,474) | (29)% | | E&I CC&E | $(2,201) | $(2,135) | (3)% | $(4,381) | $(4,412) | 1% | | E&I segment gross profit (loss) | $(257) | $3,682 | (107)% | $5,731 | $11,087 | (48)% | [Consolidated Segment Gross Profit Reconciliation](index=10&type=section&id=4.3%20Consolidated%20Segment%20Gross%20Profit%20Reconciliation) Consolidated total segment gross profit remained flat year-over-year in Q2 2025 at $18.9 million but increased by 25% year-to-date, driven by significant reductions in marketing, advertising, and impairment charges | Metric (in thousands) | Q2 2025 | Q2 2024 | % Change (QoQ) | YTD 2025 | YTD 2024 | % Change (YTD) | | :----------------------------------- | :-------- | :-------- | :------------- | :--------- | :--------- | :------------- | | Total segment gross profit | $18,888 | $18,886 | —% | $60,623 | $48,339 | 25% | | Other marketing and advertising | $(6,810) | $(7,633) | 11% | $(13,264) | $(15,085) | 12% | | Technology and content | $(11,354) | $(13,044) | 13% | $(23,955) | $(26,349) | 9% | | General and administrative | $(21,582) | $(22,402) | 4% | $(38,892) | $(42,021) | 7% | | Impairment, restructuring and other charges | $(1,555) | $(3,035) | 49% | $(1,555) | $(9,348) | 83% | | Loss before income taxes | $(24,052) | $(28,473) | 16% improvement | $(20,326) | $(46,802) | 57% improvement | Commission Revenue Breakdown [Commission Revenue by Product](index=11&type=section&id=5.1%20Commission%20Revenue%20by%20Product) Total commission revenue decreased by 4% in Q2 2025 to $54.7 million but increased by 12% year-to-date, with Medicare Supplement commissions seeing a significant 228% increase in Q2 | Product (in thousands) | Q2 2025 | Q2 2024 | % Change (QoQ) | YTD 2025 | YTD 2024 | % Change (YTD) | | :----------------------------------- | :-------- | :-------- | :------------- | :--------- | :--------- | :------------- | | Medicare Advantage | $38,264 | $42,168 | (9)% | $113,250 | $104,164 | 9% | | Medicare Supplement | $13,286 | $4,045 | 228% | $21,890 | $9,523 | 130% | | Medicare Part D | $(1,048) | $2,710 | (139)% | $1,395 | $5,395 | (74)% | | Total Medicare | $50,502 | $48,923 | 3% | $136,535 | $119,082 | 15% | | Non-Qualified Health Plans | $(434) | $388 | (212)% | $484 | $2,033 | (76)% | | Qualified Health Plans | $(402) | $710 | (157)% | $1,363 | $2,756 | (51)% | | Total Individual and Family | $(836) | $1,098 | (176)% | $1,847 | $4,789 | (61)% | | Ancillary | $2,249 | $2,555 | (12)% | $8,081 | $5,243 | 54% | | Small Business | $2,297 | $2,563 | (10)% | $5,731 | $6,179 | (7)% | | Commission Bonus and Other | $519 | $1,708 | (70)% | $1,483 | $2,481 | (40)% | | Total Commission Revenue | $54,731 | $56,847 | (4)% | $153,677 | $137,774 | 12% | [Commission Revenue by Segment](index=11&type=section&id=5.2%20Commission%20Revenue%20by%20Segment) Medicare segment commission revenue increased by 3% in Q2 2025 and 17% year-to-date, driven by higher net commission revenue from prior periods, while the Employer and Individual segment's commission revenue decreased substantially | Segment (in thousands) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :------------------------------------------------- | :-------- | :-------- | :--------- | :--------- | | **Medicare** | | | | | | Commission revenue from members approved during the period | $33,148 | $39,941 | $114,902 | $109,693 | | Net commission revenue from members approved in prior periods | $19,089 | $10,681 | $27,054 | $11,683 | | Total Medicare segment commission revenue | $52,237 | $50,622 | $141,956 | $121,376 | | **Employer and Individual** | | | | | | Commission revenue from members approved during the period | $1,920 | $3,265 | $5,778 | $8,942 | | Commission revenue from renewals of small business members | $1,892 | $2,142 | $4,742 | $5,170 | | Net commission revenue from members approved in prior periods | $(1,318) | $818 | $1,201 | $2,286 | | Total Employer and Individual segment commission revenue | $2,494 | $6,225 | $11,721 | $16,398 | | **Total commission revenue** | $54,731 | $56,847 | $153,677 | $137,774 | Key Operating Metrics [Approved Members](index=12&type=section&id=6.1%20Approved%20Members) Total approved members decreased by 13% in Q2 2025 to 48,936, primarily due to declines in Medicare Advantage and Individual and Family members, but increased 4% year-to-date driven by Medicare Advantage growth | Approved Members | Q2 2025 (Count) | Q2 2024 (Count) | % Change (QoQ) | YTD 2025 (Count) | YTD 2024 (Count) | % Change (YTD) | | :----------------------- | :-------- | :-------- | :------------- | :--------- | :--------- | :------------- | | Medicare Advantage | 30,568 | 37,638 | (19)% | 113,239 | 103,388 | 10% | | Medicare Supplement | 1,730 | 1,954 | (11)% | 4,295 | 8,136 | (47)% | | Medicare Part D | 1,378 | 1,468 | (6)% | 4,020 | 5,043 | (20)% | | Total Medicare | 33,676 | 41,060 | (18)% | 121,554 | 116,567 | 4% | | Individual and Family | 2,062 | 3,508 | (41)% | 7,879 | 10,668 | (26)% | | Ancillary | 12,360 | 11,078 | 12% | 29,285 | 25,028 | 17% | | Small Business | 838 | 922 | (9)% | 2,028 | 2,564 | (21)% | | Total Approved Members | 48,936 | 56,568 | (13)% | 160,746 | 154,827 | 4% | [Constrained Lifetime Value (LTV) of Commissions per Approved Member](index=12&type=section&id=6.2%20Constrained%20Lifetime%20Value%20(LTV)%20of%20Commissions%20per%20Approved%20Member) In Q2 2025, Constrained LTV per approved member for Medicare Advantage increased by 1% to $934, and Medicare Supplement LTV significantly increased by 29% to $1,435, while Medicare Part D LTV decreased by 24% | LTV per Approved Member | Q2 2025 ($) | Q2 2024 ($) | % Change | | :----------------------------------- | :-------- | :-------- | :--------- | | Medicare Advantage | $934 | $927 | 1% | | Medicare Supplement | $1,435 | $1,112 | 29% | | Medicare Part D | $171 | $225 | (24)% | | Non-Qualified Health Plans | $328 | $353 | (7)% | | Qualified Health Plans | $315 | $354 | (11)% | | Short-term Ancillary | $111 | $172 | (35)% | | Dental Ancillary | $125 | $122 | 2% | | Vision Ancillary | $84 | $76 | 11% | | Small Business | $263 | $253 | 4% | [Expense Metrics per Approved Member](index=12&type=section&id=6.3%20Expense%20Metrics%20per%20Approved%20Member) In Q2 2025, Customer Care & Enrollment (CC&E) cost per MA-equivalent approved member increased by 11% to $664, while variable marketing cost decreased by 7% to $423, but both costs significantly increased for IFP-equivalent approved members | Expense Metric | Q2 2025 ($) | Q2 2024 ($) | % Change | | :------------------------------------------ | :-------- | :-------- | :--------- | | **Medicare Plans** | | | | | CC&E cost per MA-equivalent approved member | $664 | $599 | 11% | | Variable marketing cost per MA-equivalent approved member | $423 | $457 | (7)% | | Total acquisition cost per MA-equivalent approved member | $1,087 | $1,056 | 3% | | **Individual and Family Plans ("IFP")** | | | | | CC&E cost per IFP-equivalent approved member | $422 | $284 | 49% | | Variable marketing cost per IFP-equivalent approved member | $99 | $59 | 68% | | Total acquisition cost per IFP-equivalent approved member | $521 | $343 | 52% | [Estimated Membership](index=13&type=section&id=6.4%20Estimated%20Membership) As of June 30, 2025, total estimated membership decreased by 3% year-over-year to 1,145,603, primarily due to declines in Medicare Supplement, Medicare Part D, Individual and Family, and Small Business memberships | Estimated Membership | June 30, 2025 (Members) | June 30, 2024 (Members) | % Change | | :----------------------- | :-------------- | :-------------- | :--------- | | Medicare Advantage | 596,397 | 584,649 | 2% | | Medicare Supplement | 91,845 | 97,426 | (6)% | | Medicare Part D | 176,223 | 195,671 | (10)% | | Total Medicare | 864,465 | 877,746 | (2)% | | Individual and Family | 66,374 | 79,786 | (17)% | | Ancillary | 174,632 | 174,107 | —% | | Small Business | 40,132 | 45,101 | (11)% | | Total Estimated Membership | 1,145,603 | 1,176,740 | (3)% | Non-GAAP Financial Measures Reconciliation [Operating Costs and Expenses Reconciliation](index=14&type=section&id=7.1%20Operating%20Costs%20and%20Expenses%20Reconciliation) eHealth provides reconciliations from GAAP to Non-GAAP operating costs and expenses by excluding stock-based compensation and impairment/restructuring charges, with total non-GAAP operating costs and expenses decreasing by 8.5% in Q2 2025 | Metric (in thousands) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :----------------------------------- | :-------- | :-------- | :--------- | :--------- | | GAAP marketing and advertising expense | $21,425 | $26,783 | $62,614 | $65,520 | | Non-GAAP marketing and advertising expense | $20,840 | $26,072 | $61,532 | $64,165 | | GAAP customer care and enrollment expense | $27,910 | $28,551 | $65,131 | $61,452 | | Non-GAAP customer care and enrollment expense | $27,578 | $28,040 | $64,535 | $60,417 | | GAAP technology and content expense | $11,354 | $13,044 | $23,955 | $26,349 | | Non-GAAP technology and content expense | $10,674 | $12,265 | $22,587 | $24,596 | | GAAP general and administrative expense | $21,582 | $22,402 | $38,892 | $42,021 | | Non-GAAP general and administrative expense | $19,303 | $19,297 | $34,273 | $35,518 | | GAAP operating costs and expenses | $83,826 | $93,815 | $192,147 | $204,690 | | Non-GAAP operating costs and expenses | $78,395 | $85,674 | $182,927 | $184,696 | [Net Loss and Adjusted EBITDA Reconciliation](index=15&type=section&id=7.2%20Net%20Loss%20and%20Adjusted%20EBITDA%20Reconciliation) For Q2 2025, GAAP net loss attributable to common stockholders was $(29.8) million, which reconciles to an Adjusted EBITDA of $(14.1) million after various add-backs, while Non-GAAP net loss was $(29.7) million | Metric (in thousands) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :------------------------------------------------- | :-------- | :-------- | :--------- | :--------- | | GAAP net loss attributable to common stockholders | $(29,783) | $(38,988) | $(39,755) | $(66,699) | | GAAP net loss | $(17,398) | $(27,968) | $(15,448) | $(44,952) | | Adjusted EBITDA | $(14,142) | $(15,540) | $(1,621) | $(17,192) | | Adjusted EBITDA margin | (23)% | (24)% | (1)% | (11)% | | Non-GAAP net loss | $(29,678) | $(34,317) | | | | Adjusted EBITDA excluding net adjustment revenue | $(31,913) | $(27,039) | | | [Total Revenue Reconciliation](index=15&type=section&id=7.3%20Total%20Revenue%20Reconciliation) Non-GAAP total revenue excluding net adjustment revenue for Q2 2025 was $43.0 million, a 21% decrease from Q2 2024, calculated by subtracting net adjustment revenue from GAAP total revenue | Metric (in thousands) | Q2 2025 | Q2 2024 | $ Change | % Change | | :------------------------------------------ | :-------- | :-------- | :--------- | :--------- | | GAAP total revenue | $60,782 | $65,856 | $(5,074) | (8)% | | Net adjustment revenue | $(17,771) | $(11,499) | $6,272 | 55% | | Non-GAAP total revenue excluding net adjustment revenue | $43,011 | $54,357 | $(11,346) | (21)% | [Guidance Adjusted EBITDA Reconciliation](index=17&type=section&id=7.4%20Guidance%20Adjusted%20EBITDA%20Reconciliation) eHealth's full-year 2025 Adjusted EBITDA guidance ranges from $55.0 million to $75.0 million, reconciled from GAAP net income guidance by adding back preferred stock impact, stock-based compensation, depreciation, interest, and taxes | Metric (in millions) | Full Year 2025 Guidance (Low) | Full Year 2025 Guidance (High) | | :----------------------------------- | :---------------------------- | :----------------------------- | | GAAP net loss attributable to common stockholders | $(45.0) | $(24.0) | | GAAP net income | $5.0 | $26.0 | | Stock-based compensation expense | $15.0 | $12.0 | | Depreciation and amortization | $18.0 | $17.0 | | Interest expense | $11.0 | $10.0 | | Provision for income taxes | $9.0 | $13.0 | | Adjusted EBITDA | $55.0 | $75.0 | Company Information & Footnotes [About eHealth, Inc.](index=3&type=section&id=8.1%20About%20eHealth%2C%20Inc.) eHealth, Inc. is a leading private online health insurance marketplace with over 25 years of experience, connecting millions of Americans with suitable and affordable healthcare coverage - eHealth is a leading private online health insurance marketplace[9](index=9&type=chunk) - Helps Americans find healthcare coverage for **over 25 years**[9](index=9&type=chunk) - Operates as an independent licensed insurance agency and advisor[9](index=9&type=chunk) - Offers access to **over 180 health insurers**[9](index=9&type=chunk) [Forward-Looking Statements and Risk Factors](index=3&type=section&id=8.2%20Forward-Looking%20Statements%20and%20Risk%20Factors) The press release contains forward-looking statements subject to various risks and uncertainties, including regulatory changes, competition, seasonality, and the ability to estimate key metrics - Statements are forward-looking and subject to risks and uncertainties[10](index=10&type=chunk) - Key risks include ability to retain/enroll members, changes in laws/regulations, competition, seasonality, accuracy of membership/LTV estimates, carrier relationships, security risks, and macroeconomic conditions[10](index=10&type=chunk)[14](index=14&type=chunk) - Specifically mentions a complaint filed by the U.S. Attorney's Office alleging violation of the Federal False Claims Act[10](index=10&type=chunk)[14](index=14&type=chunk) [Webcast and Investor Relations Information](index=3&type=section&id=8.3%20Webcast%20and%20Investor%20Relations%20Information) eHealth held a webcast and conference call on August 6, 2025, to discuss its Q2 2025 results, with investor relations contact information and website links provided for further inquiries - Webcast and conference call held on **August 6, 2025, at 8:30 a.m. Eastern Time**[8](index=8&type=chunk) - Investor Relations contact: **Kate Sidorovich, CFA, Senior Vice President, Investor Relations & Strategy**[16](index=16&type=chunk) - Investor Relations website: **https://ir.ehealthinsurance.com**[16](index=16&type=chunk) [Non-GAAP Financial Information Definitions](index=18&type=section&id=8.4%20Non-GAAP%20Financial%20Information%20Definitions) This section defines non-GAAP financial measures such as non-GAAP total revenue, operating costs, net income (loss), and Adjusted EBITDA, explaining their use and limitations as supplements to GAAP statements - Non-GAAP measures supplement GAAP financial statements for management and investors[52](index=52&type=chunk) - Non-GAAP total revenue excludes net commission revenue from prior periods[52](index=52&type=chunk) - Non-GAAP operating costs exclude stock-based compensation and impairment/restructuring charges[54](index=54&type=chunk) - Adjusted EBITDA excludes preferred stock impact, taxes, depreciation, stock-based compensation, impairment, interest, and other non-recurring charges from GAAP net loss[56](index=56&type=chunk) - Acknowledges limitations of non-GAAP measures as they don't reflect all costs and should not be considered in isolation[56](index=56&type=chunk) [Metrics Definitions](index=20&type=section&id=8.5%20Metrics%20Definitions) This section provides detailed definitions for key operating metrics including Approved Members, Constrained Lifetime Value (LTV) of Commissions per Approved Member, Expense Metrics per Approved Member, and Estimated Membership - **Approved Members**: Number of individuals on applications approved by carriers during the period[58](index=58&type=chunk) - **Constrained LTV of Commissions per Approved Member**: Estimated commissions collected over a plan's life, applying constraints per revenue recognition policy, considering factors like commission rates, carrier mix, plan duration, regulatory environment, and cancellations[59](index=59&type=chunk)[60](index=60&type=chunk) - **Expense Metrics per Approved Member**: Calculates CC&E and variable marketing costs per MA-equivalent or IFP-equivalent approved member, based on relative LTVs[62](index=62&type=chunk) - **Estimated Membership**: Estimated active members based on commission payments received/applied and approved members, adjusted for historical cancellations, and not updated for prior periods[64](index=64&type=chunk)

Financial Results - eHealth, Inc. announced its financial results for the second quarter ended June 30, 2025 [1] - The earnings press release and presentation are available on the eHealth Investor Relations website [1] Webcast and Conference Call - A webcast and conference call was scheduled for August 6, 2025, at 8:30 a.m. Eastern Time [3] - Interested individuals can participate by dialing (800) 549-8228 with the passcode 61513 [3] - The live and archived webcast will be accessible on the Investor Relations page of the eHealth website [3] Company Overview - eHealth has been operating for over 25 years, assisting millions of Americans in finding suitable healthcare coverage [4] - The company is a leading independent licensed insurance agency, providing access to over 180 health insurers [4] - eHealth aims to match consumers with healthcare coverage that fits their needs at an affordable price [4]

Group 1 - Reem Capital Corp. and Kalron Holdings Ltd. are providing updates on their proposed transaction, which is part of Reem's Qualifying Transaction as defined by the TSX Venture Exchange [1][2] - The completion of the Proposed Transaction is contingent upon final acceptance from the Exchange, completion of financings, and satisfaction of customary closing conditions [3][20] - The parties aim to raise a minimum of $3.4 million and up to a maximum of $4 million through non-brokered private placements of subscription receipts at a price of $0.80 each [4][10] Group 2 - Each subscription receipt will convert into one common share and one warrant of the Resulting Issuer, with the warrant allowing the purchase of an additional share at $1.20 for 24 months post-transaction [5][12] - Proceeds from the financings will be held in escrow until all conditions are met, including regulatory approvals [6][10] - The Resulting Issuer plans to allocate funds for various purposes, including sales and marketing, research and development, and general administration, with total projected uses ranging from approximately $1.63 million to $2.03 million depending on financing completion [11][12] Group 3 - Kalron Holdings Ltd. is the parent company of Seegnal eHealth Ltd., which specializes in clinical decision support software aimed at improving patient care and reducing healthcare costs [13][14] - Seegnal's software platform is currently utilized by over 10,000 clinicians in Israel and is recognized as a standard of care system [15][16] - The technology developed by Seegnal includes over 1500 algorithms and has received patents in multiple countries, enhancing its market position [16]

Core Viewpoint - Derrick Duke has been appointed as the new Chief Executive Officer of eHealth, Inc., succeeding Fran Soistman, who will retire but remain on the Board of Directors and assist during the transition period [1][4][5]. Group 1: Leadership Transition - Derrick Duke will officially assume the CEO role on September 18, 2025, after starting the transition on August 4, 2025 [1]. - Fran Soistman will continue to serve as an executive advisor until December 31, 2025, to support the transition [1]. Group 2: Derrick Duke's Background - Derrick Duke has over 30 years of strategic leadership and financial expertise in the health insurance and managed care sectors [6]. - He previously served as CEO of Magellan Health, where he led significant operational and financial initiatives [2][6]. - Duke has held various senior roles at HealthMarkets, including Chief Investment Officer and Chief Financial Officer, and played a key role in its acquisition by UnitedHealth Group in 2019 [7]. Group 3: Board and Company Statements - Beth Brooke, Chair of eHealth's Board, expressed confidence in Duke's ability to lead eHealth into a new phase of profitable growth, highlighting his operational expertise and financial acumen [3]. - Fran Soistman acknowledged the accomplishments during his tenure and expressed confidence in Duke's leadership for eHealth's future [4][5].

Core Viewpoint - eHealth, Inc. is set to release its second quarter 2025 financial results on August 6, 2025, and will host an earnings conference call to discuss these results [1] Financial Results Announcement - The financial results for the second quarter of 2025 will be announced on August 6, 2025 [1] - An earnings conference call will take place at 8:30 a.m. Eastern Time on the same day, hosted by CEO Fran Soistman and CFO John Dolan [1] Conference Call Details - Interested individuals can listen to the conference call by dialing (800) 549-8228 with the participant passcode 61513 [2] - A live webcast of the earnings call will be available on the Investor Relations page of the company's website, with a replay accessible two hours after the call and archived for one year [3] - Participants are advised to join the call or sign on at least 15 minutes in advance [3] Company Overview - eHealth, Inc. has been operating for over 25 years, assisting millions of Americans in finding suitable healthcare coverage at affordable prices [4] - The company is a leading independent licensed insurance agency, providing access to over 180 health insurers, including both national and regional companies [4]

Core Insights - A recent survey indicates that 80% of Americans not yet enrolled in Medicare are concerned about the program's future sustainability, with Millennials showing the highest level of concern at 85% [4] - The survey reveals that 76% of respondents underestimate the average healthcare costs in retirement, with many expecting to spend $100,000 or less, while current estimates suggest nearly $200,000 in costs for the average retiree [4] - The survey highlights a disconnect between public perception and reality regarding Social Security, with 54% of respondents believing it will remain solvent longer than current predictions, which estimate insolvency by 2033 [4] Medicare Insights - Medicare is celebrating its 60th anniversary, and the survey emphasizes the importance of understanding healthcare costs for retirement planning [3][4] - 78% of respondents have a positive view of Medicare, yet 81% still express concerns about retirement healthcare costs [4] - A significant portion of respondents (34%) are unwilling to raise taxes or reduce benefits to ensure Medicare's sustainability for future generations [4] Social Security Insights - Social Security is approaching its 90th anniversary, and 80% of those not yet enrolled worry about its future viability, with Baby Boomers being the least concerned [4] - 28% of Americans misunderstand the work requirements to qualify for Social Security, with only 20% correctly identifying the necessary 10 years of work [4] - The average monthly Social Security payment is underestimated by 47% of respondents, with only 17% accurately identifying it as about $2,000 [4] Survey Methodology - The findings are based on a June 2025 survey of 1,111 American adults, conducted with a margin of error of plus or minus 3% [6]

Your Medicare MatchmakerTM Investor Presentation August 2024 ©2024 eHealthInsurance Services, Inc. Safe Harbor Statement Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include those set forth in our filings with the Securities and Exchange Commission, including our latest Form 10-Q and 10-K. The forward-looking statement ...

Core Insights - eHealth, Inc. has been recognized as one of the Best Workplaces in Texas, ranking No. 25 on the list by Great Place To Work and Fortune magazine [1][3] - The selection process involved surveying nearly 116,000 employees from eligible companies, focusing on their workplace experiences and trust in leadership [2][5] - eHealth's Chief Human Resources Officer emphasized the company's remote-first approach and commitment to prioritizing people, which contributes to exceptional workplace results [3][4] Company Overview - eHealth has over 25 years of experience in helping Americans find suitable healthcare coverage at affordable prices, operating as a leading independent licensed insurance agency [4] - The company offers access to over 180 health insurers, including both national and regional companies [4] - To qualify for the Best Workplaces in Texas list, companies must be Great Place To Work Certified™, have a minimum of 10 U.S. employees, and be headquartered in Texas [4][5] Recognition Process - The Best Workplaces in Texas list is highly competitive, with honorees evaluated based on their ability to deliver positive outcomes for employees across all roles [3][5] - Great Place To Work surveyed a total of 1.3 million employees across the U.S., representing companies that employ over 8.4 million workers [5] - The recognition highlights the importance of investing in employee well-being for sustainable business performance [4]

Core Insights - eHealth, Inc. (EHTH) reported a first-quarter 2025 adjusted loss of 8 cents per share, significantly better than the Zacks Consensus Estimate of a loss of 41 cents, and an improvement from a loss of 79 cents in the prior year [2] - Revenues for the quarter reached $113.1 million, reflecting a year-over-year increase of 21.7% and surpassing the consensus estimate by 23.1% [2] - The company's shares have declined by 2.4% since the earnings report, despite strong performance in the Medicare segment [1] Financial Performance - Commissions increased by 22% year over year to $98.9 million, while other revenues rose 18% to $14.2 million [3] - Total operating costs decreased by 2% year over year to $108.3 million, primarily due to lower general and administrative expenses [4] - Net income for the quarter was $2 million, a 111% increase year over year, and adjusted EBITDA soared 858% to $12.5 million [4] Segment Analysis - Medicare segment revenues grew by 26% year over year to $103.7 million, with gross profit increasing by 62% to $35.7 million, driven by a 16% rise in approved members [4] - The Employer and Individual segment saw revenues decline by 11% year over year to $9.5 million, with gross profit down 19% to $6 million due to a decrease in approved members [5] Cash and Guidance - As of March 31, 2025, eHealth had cash and cash equivalents of $121.1 million, up from $39.2 million at the end of 2024 [6] - The company reaffirmed its 2025 revenue guidance in the range of $510-$550 million, indicating a slight dip from 2024 figures [7]