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GoHealth(GOCO) - 2025 Q2 - Quarterly Report
2025-08-12 20:25
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39390 GoHealth, Inc. (Exact name of registrant as specified in its charter) _________________________ (State or other jurisdiction ...
Stonegate Capital Partners Updates Coverage On GoHealth Inc. (GOCO) 2025 Q2
Newsfile· 2025-08-08 13:36
Company Performance - GoHealth Inc. reported a challenging second quarter in 2025, with net revenues decreasing by 11.2% year-over-year to $94.0 million, primarily due to a significant drop in partner revenue by 44.4% and non-agency revenue by 79.4% [1] - The overall revenue decline was partially offset by a strong increase in other revenues, particularly from GoHealth Protect [1] - The company experienced a net loss of $115.9 million in Q2, which was impacted by a $53 million intangible asset impairment charge; however, adjusted EBITDA improved slightly year-over-year to -$11.3 million [7] Strategic Initiatives - Management indicated a focus on adapting to market conditions and capitalizing on opportunities as they arise, particularly in light of the upcoming Annual Enrollment Period (AEP) [1] - The company secured $115 million in new and rolled-up loans and amended its credit agreement to waive near-term principal payments, creating a $250 million debt basket for pursuing strategic deals [7] Cost Management - Marketing and consumer care expenses were reduced by 26% and 33% year-over-year, respectively, leading to improved cost efficiency per submission despite a 7.5% decline in total submissions [7]
GoHealth(GOCO) - 2025 Q2 - Earnings Call Transcript
2025-08-07 13:00
Financial Data and Key Metrics Changes - The company announced a super priority senior secured term loan facility totaling $115 million, which includes $80 million in new money and $35 million in existing revolving loans [6][8][10] - The company expects to record an impairment related to intangible assets, which is the only remaining item required to finalize their Form 10-Q [10] Business Line Data and Key Metrics Changes - The company pulled back significantly from the Medicare Advantage space starting in May, which impacted their performance in Q2 [24][57] - The GoHealthProtect product suite generated approximately $8 million in revenue during the quarter, indicating a successful shift in focus [36][50] Market Data and Key Metrics Changes - The non-agency revenue was lower in Q2 compared to the same period last year, primarily due to a shift in health plan contracts and competitiveness [57] - The company noted that the health plans that were winning during the Special Enrollment Period were more agency-based, affecting the overall revenue mix [58] Company Strategy and Development Direction - The company is focused on pursuing mergers and acquisitions in a fragmented market, leveraging proprietary technology and AI to drive efficiency and scale [8][9] - A transformation committee has been established to identify and vet acquisition opportunities, indicating a more aggressive approach to growth [21][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the new capital structure and governance changes, which are expected to enhance financial flexibility and long-term positioning [3][10] - The company anticipates a disruptive market environment for the upcoming Annual Enrollment Period, with health plans making significant changes to their benefits [41][61] Other Important Information - The company has made meaningful changes to its governance structure, including the appointment of three new directors to the Board [7][8] - The lenders have approved a basket of up to $250 million for the company to pursue new transactions, which is a significant change from previous limitations [21][22] Q&A Session Summary Question: Can you compare the new loan covenants to the old ones? - The new covenants are more flexible, with only a minimum liquidity covenant moving forward, allowing the company to be nimble during the Annual Enrollment Period [13][14] Question: What does the ideal acquisition profile look like? - The company is looking for targets that offer integrated value, such as product diversification and contract assets, to enhance capabilities [15][16] Question: Is pursuing transformative acquisitions a priority for the new board members? - Yes, the new board members will focus on identifying acquisition opportunities, supported by a debt capacity of up to $250 million [20][22] Question: What is the outlook for customer acquisition cost (CAC) and revenue per submission? - The company expects to improve efficiency and performance in future quarters, with Q2 not being indicative of their capabilities [24][25] Question: How has the final expense product performed? - The final expense product has met expectations, generating approximately $8 million in revenue, and the company plans to continue focusing on this product line [36][50] Question: How do regulatory changes impact confidence in the upcoming Annual Enrollment Period? - The regulatory environment is expected to be disruptive, but health plans are stabilizing, which will influence the company's resource deployment [61][62]
GoHealth(GOCO) - 2025 Q2 - Quarterly Results
2025-08-07 11:08
AMENDMENT NO. 14 TO THE CREDIT AGREEMENT AMENDMENT NO. 14 TO THE CREDIT AGREEMENT, dated as of August 6, 2025 (this "Amendment"), by and among Blizzard Midco, LLC, a Delaware limited liability company ("Holdings"), Norvax, LLC, a Delaware limited liability company (the "Borrower"), the Lenders party hereto (constituting the Required Lenders, all of the Revolving Lenders and all of the Term Lenders) and Blue Torch Finance, LLC, as the administrative agent and the collateral agent (in such capacities, the "Ad ...
GoHealth (GOCO) Earnings Call Presentation
2025-08-07 11:00
Company Overview - GoHealth is a leading health insurance marketplace providing personalized guidance to Medicare-eligible consumers[12] - GoHealth has assisted over 11 million consumers with Medicare plan options[15] - The Medicare market is large and growing, with over 68 million eligible lives and over 11,000 new members each day[18] Business Model and Technology - GoHealth utilizes a consumer-centric approach and streamlined Encompass operating model[22] - The company's PlanFit technology platform optimizes enrollment and ensures the best outcomes for consumers[14] - GoHealth's differentiated operating model results in industry-leading customer acquisition costs, with Direct Operating Cost per Submission at $578 in FY24[51, 52] Market Position and Growth - GoHealth is ranked 1 Medicare enroller for health plans[25] - The company projects over 40 million Medicare Advantage enrollees by 2030[55] Competitive Advantage - GoHealth's Direct Operating Cost per Submission is 17% to 31% lower than peers in FY24[51]
GoHealth to Announce Strategic Capital and Governance Actions to Support Long-Term Value Creation and Second Quarter 2025 Results
Globenewswire· 2025-08-06 20:15
CHICAGO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- GoHealth, Inc. (GoHealth) (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, will announce strategic capital and governance actions to support long-term value creation and its second quarter 2025 financial results on the morning of August 7, 2025. Chief Executive Officer, Vijay Kotte, and Chief Financial Officer, Brendan Shanahan, will host a conference call and live audio webcast on the day of the release at 8:00 a. ...
Go Metals Announces KM98 Bulk Sample Program and Partnership with INRS and UQAC
Newsfile· 2025-07-21 13:07
Core Insights - Go Metals Corp. is initiating a bulk sampling program at the KM98 Vanadium Titanomagnetite Project to support a maiden metallurgical study [1][2] - The company has partnered with INRS and UQAC for a collaborative research initiative, with a proposed budget of up to $300,000 [3] - The flagship Monster Project in Yukon is a significant Iron Oxide Copper-Gold (IOCG) system, fully permitted for advanced exploration activities through 2032 [4] Group 1: KM98 Project - The bulk sampling program will focus on the central part of a 12-kilometre-long magnetic anomaly, aiming to assess the viability of processing mineralized material into a marketable concentrate [2] - If the metallurgical study yields favorable results, the company plans to extend testing to the large southwestern portion of the anomaly [2] Group 2: Research Partnership - The partnership with INRS and UQAC aims to support a three-year research study in the HSP anorthosite complex, supervised by Dr. Sarah Dare and Dr. Renaud Soucy-La Roche [3] - The research initiative will seek grant funding through the Fonds de recherche du Québec – Nature et technologies (FRQNT) [3] Group 3: Monster Project - The Monster Project is characterized by high-grade copper and cobalt mineralization at the surface, with significant depth potential indicated by three large-scale magnetic and gravity anomalies [4] - The project is one of the few IOCG systems in Canada and is fully permitted for advanced exploration activities until 2032 [4] Group 4: Company Overview - Go Metals prioritizes innovation and responsible exploration practices in the pursuit of critical metals within Canada's mining-friendly jurisdictions [5]
GoHealth Secures Amended Credit Agreement Highlighting Broad Based Support from Stakeholders
Globenewswire· 2025-06-30 20:30
Core Viewpoint - GoHealth, Inc. has amended its credit agreement with lenders to provide covenant adjustments and extend the maturity of its revolving credit facility until September 30, 2025, aiming to strengthen its financial foundation and support future growth [1][2]. Group 1: Financial Adjustments - The amendment allows GoHealth to pursue receivables financing, including a securitization transaction, as part of a comprehensive financing plan to address its going concern position [1][2]. - The company has received broad-based support from stakeholders, enabling it to focus on long-term strategic priorities [2]. Group 2: Company Overview - GoHealth is a leading health insurance marketplace focused on Medicare, utilizing a technology platform that employs machine-learning algorithms to match health plans to consumer needs [3]. - The company has facilitated the enrollment of millions of consumers in Medicare plans since its inception, emphasizing its role in helping consumers navigate complex health insurance options [3].
GoHealth(GOCO) - 2022 Q3 - Earnings Call Presentation
2025-06-30 12:50
Encompass Q3 Earnings 1 Forward-Looking Statements and Use of Non-GAAP Financial Measures and Key Performance Indicators Forward-Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding the Company's future results of operations and financial position, business strategy and plans ...
GoHealth(GOCO) - 2020 Q4 - Earnings Call Presentation
2021-03-09 21:42
Financial Performance Highlights - GoHealth achieved record revenue of $877 million for FY 2020, representing a 63% increase year-over-year[7, 12] - Adjusted EBITDA for FY 2020 reached $271 million, a 59% increase compared to the previous year[7, 12] - The Adjusted EBITDA margin for FY 2020 was 31%[8, 12] - Q4 2020 revenue was $446 million, a 55% increase year-over-year[12] - Q4 2020 Adjusted EBITDA was $170 million, a 31% increase year-over-year, with a 38% margin[12, 27] Growth and Efficiency - Total submissions for FY 2020 were 730,000, a 71% increase year-over-year[6, 12] - Medicare-Internal segment revenue growth was 110% for FY 2020 and 75% for Q4 2020[12] - The company's commissions receivable balance grew by 112% to $810 million in 2020[29, 31] Outlook for 2021 - Projected revenue for FY 2021 is estimated to be between $1.15 billion and $1.3 billion, representing a growth of 31% to 48%[14] - Adjusted EBITDA for FY 2021 is projected to be between $345 million and $385 million, a growth of 27% to 42%[14] - The Adjusted EBITDA margin for FY 2021 is expected to be around 30%[14]