GoHealth, Inc. (NASDAQ:GOCO) Q4 2022 Earnings Conference Call March 16, 2023 5:00 PM ET Company Participants John Shave - VP, IR Vijay Kotte - Chief Executive Officer Jason Schulz - Chief Financial Officer Conference Call Participants Michael Cherny - Bank of America Jonathan Yong - Credit Suisse Ben Hendrix - RBC Capital Markets Adam Klauber - William Blair Operator Good afternoon, and welcome to the GoHealth Fourth Quarter and Full Year 2022 Earnings Conference Call. My name is Lisa, and I will be your op ...

Financial Performance - For the three months ended September 30, 2022, net revenues were $133.052 million, a decrease of 37% compared to $211.734 million for the same period in 2021[24] - Commission revenues for the nine months ended September 30, 2022, were $414.735 million, down 16.4% from $496.437 million in the same period of 2021[24] - The company reported a net loss of $74.654 million for the three months ended September 30, 2022, compared to a net loss of $55.518 million for the same period in 2021[24] - For the three months ended September 30, 2022, GoHealth, Inc. reported a net loss of $74.654 million, compared to a net loss of $55.518 million for the same period in 2021, representing a 34.4% increase in losses year-over-year[27] - Comprehensive income attributable to GoHealth, Inc. for the three months ended September 30, 2022, was a loss of $29.942 million, compared to a loss of $20.231 million in the same period of 2021, indicating a 48.5% increase in losses[27] - For the nine months ended September 30, 2022, GoHealth reported a net loss of $225.6 million, compared to a net loss of $102.0 million for the same period in 2021, representing a 121% increase in losses year-over-year[40] - The company experienced a significant increase in share-based compensation, totaling $22.8 million for the nine months ended September 30, 2022, compared to $20.1 million in the prior year, reflecting a 13.4% increase[40] - The company reported a total of $113.6 million in deferred revenue for the nine months ended September 30, 2022, compared to a decrease of $175,000 in the prior year, indicating a positive shift in revenue recognition[40] - The effective tax rate for the three months ended September 30, 2022, was 0.00%, compared to 0.14% for the same period in 2021, primarily due to the effect of loss entities[119] Operating Expenses - Operating expenses totaled $192.191 million for the three months ended September 30, 2022, down from $260.440 million in the same period of 2021[24] - The cost of revenue for the three months ended September 30, 2022, was $48.044 million, a decrease from $53.632 million in the same period of 2021[24] - Marketing and advertising expenses were $22.661 million for the three months ended September 30, 2022, significantly lower than $59.511 million in the same period of 2021[24] - The company experienced operating lease impairment charges of $25.3 million for the nine months ended September 30, 2022, compared to $1.1 million for the same period in 2021[58] - The Company recorded total share-based compensation expense of $6.456 million for the three months ended September 30, 2022, compared to $7.389 million for the same period in 2021, reflecting a decrease of approximately 12.6%[104] Assets and Liabilities - Total current assets increased to $468.147 million as of September 30, 2022, from $428.995 million as of December 31, 2021, reflecting an increase of 9.5%[30] - Cash and cash equivalents rose significantly to $215.403 million as of September 30, 2022, compared to $84.361 million at the end of 2021, marking a substantial increase of 155.7%[30] - Total liabilities increased to $1.264 billion as of September 30, 2022, from $1.176 billion at December 31, 2021, representing a rise of 7.5%[30] - The accumulated deficit as of September 30, 2022, was $295.691 million, up from $208.317 million at the end of 2021, indicating an increase of 42%[30] - GoHealth's total assets decreased to $2.002 billion as of September 30, 2022, from $2.069 billion at December 31, 2021, a decline of 3.2%[30] - Non-controlling interests decreased to $364.294 million as of September 30, 2022, from $539.387 million at December 31, 2021, a decline of 32.5%[30] - GoHealth's total stockholders' equity attributable to the company was $324.944 million as of September 30, 2022, down from $353.103 million at the end of 2021, reflecting a decrease of 8.0%[30] Debt and Financing - The company experienced a loss on extinguishment of debt of $39.752 million for the nine months ended September 30, 2022[24] - As of September 30, 2022, the total long-term debt amounted to $660.4 million, a slight decrease from $665.1 million as of December 31, 2021[66] - The Company has a total debt of $665.7 million as of September 30, 2022, which includes term loan facilities and revolving credit facilities[66] - The effective interest rate for the Incremental Term Loan Facility was 8.8% at September 30, 2022, compared to 7.5% at December 31, 2021[74] - The Company incurred $2.5 million, $1.7 million, and $1.0 million in debt issuance costs associated with Amendments No. 6, 7, and 8, respectively, which are being amortized over the life of the debt[69][70][71] Revenue and Commissions - Total commission revenue for the three months ended September 30, 2022, was $87.058 million, down from $174.948 million in the same period of 2021, reflecting a 50.2% decrease[124] - As of September 30, 2022, commissions receivable amounted to $1.177 billion, a decrease from $970.734 million as of September 30, 2021, indicating a 21.3% increase year-over-year[129] - The total enterprise revenue for the nine months ended September 30, 2022, was $147.564 million, compared to $116.378 million for the same period in 2021, representing a 26.8% increase[124] Restructuring and Workforce - The restructuring initiatives led to a total of $9.797 million in restructuring and related charges for the three months ended September 30, 2022[159] - Employee termination benefits accounted for $8.722 million of the restructuring charges in the third quarter of 2022[159] - The company eliminated 828 full-time positions, representing approximately 23.7% of its workforce, primarily in customer care and enrollment[158] Operational Efficiency - The company reported a segment profit of $328, compared to a loss of $404 in the same quarter of 2021, indicating a slight improvement in operational efficiency[154] - Interest expense increased to $15.630 million for the three months ended September 30, 2022, compared to $6.921 million in the same period of 2021[154] - The company incurred a loss before income taxes of $74.654 million for the three months ended September 30, 2022, compared to a loss of $55.597 million in the prior year[154]

Financial Data and Key Metrics Changes - Cash flow from operations improved significantly from a loss of $40 million in Q3 2021 to a positive $96 million in Q3 2022, marking a $136 million improvement [9][42] - Revenue for Q3 2022 was $133 million, down from $212 million year-over-year, reflecting a strategic focus on higher-quality revenue [10][38] - Adjusted EBITDA was approximately flat compared to the previous year despite a $79 million decline in revenue, indicating improved operational efficiency [10][40] Business Line Data and Key Metrics Changes - Commission revenue decreased by 50% year-over-year to $87 million, attributed to a reduction in the number of agents to enhance quality [39] - Enterprise revenue increased by 25% year-over-year to $46 million, driven by the Encompass business generating $9 million in revenue [39] Market Data and Key Metrics Changes - The company reported a 20% improvement in retention and a 10% reduction in complaints to Medicare, indicating positive market reception of the Encompass solution [22] Company Strategy and Development Direction - The company is transitioning from a transactional e-broker model to a trusted consumer marketplace, focusing on quality and relationships with beneficiaries [7][15] - Encompass is positioned as a critical component of the strategy, expected to enhance customer service and financial performance [15][33] - The company anticipates a shift towards a more predictable revenue model with Encompass Connect, reducing exposure to the volatility of the traditional LTV model [25][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow breakeven on a trailing 12-month basis in early 2023, supported by the early success of strategic initiatives [45] - The company plans to effectuate a reverse stock split to benefit stakeholders, indicating a proactive approach to financial management [30] Other Important Information - The company received a $50 million strategic investment from significant partners to enhance customer service and market value [14] - The company ended the quarter with $250 million in cash, a significant increase from $84 million at year-end, driven by Encompass cash collections [43] Q&A Session Summary Question: Deferred revenue dynamics and future expectations - Management indicated that the increase in deferred revenue is related to the Encompass arrangement and will fluctuate with business volume throughout the year [48][49] Question: Interaction with seniors and go-forward strategy - Management explained that the Encompass model provides a different experience for beneficiaries, emphasizing quality relationships and improved technology tools for better plan matching [50][53]

GoHealth, Inc. (NASDAQ:GOCO) Q2 2022 Earnings Conference Call August 15, 2022 5:00 PM ET Company Participants Brian Farley - Chief Legal Officer Vijay Kotte - Chief Executive Officer Jason Schulz - Chief Financial Officer Conference Call Participants Elizabeth Anderson - Evercore Inc. Michael Cherny - Bank of America Merrill Lynch Tobey Sommer - Truist Securities Jonathan Yong - Credit Suisse Operator Welcome to the GoHealth Q2 2022 Earnings Conference Call. My name is Kevin, and I’ll be your operator for t ...

GoHealth² First Quarter 2022 Earnings Slides May 10, 2022 Disclaimer Forward-Looking Statements | --- ...

GoHealth, Inc. (NASDAQ:GOCO) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET Company Participants Brian Farley - Chief Legal Officer Clinton Jones - Co-Founder and Chief Executive Officer Travis Matthiesen - Chief Financial Officer Operator Welcome to the GoHealth Q1 2022 Earnings Conference Call. My name is Darryl, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a ...

GoHealth® Fourth Quarter 2021 Earnings Slides March 15, 2022 Disclaimer 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 and objectives of management for future operatio ...

GoHealth, Inc. (NASDAQ:GOCO) Q4 2021 Earnings Conference Call March 15, 2022 5:00 PM ET Company Participants Brian Farley – Chief Legal Officer Clint Jones – Co-Founder and Chief Executive Officer Travis Matthiesen – Interim Chief Financial Officer Shane Cruz – Chief Operating Officer Conference Call Participants Elizabeth Anderson – Evercore ISI Jailendra Singh – Credit Suisse Michael Cherny – Bank of America Tobey Sommer – Truist Securities Ben Hendrix – RBC Capital Markets Operator Thank you for standing ...

GoHealth, Inc. (NASDAQ:GOCO) Q3 2021 Earnings Conference Call November 9, 2021 5:00 PM ET Company Participants Brian Farley - Chief Legal Officer Clint Jones - Co-Founder and Chief Executive Officer Travis Matthiesen - Chief Financial Officer Conference Call Participants Elizabeth Anderson - Evercore ISI Michael Cherny - Bank of America Merrill Lynch Jailendra Singh - Credit Suisse Frank Morgan - RBC Capital Markets Tobey Sommer - Truist Securities, Inc. Alex Bolton - Raymond James & Associates, Inc. Nathan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Commission File Number: 001-39390 GoHealth, Inc. 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 September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Exact name of registrant as specified in its charter) _________________________ Delaware 85-0563805 (St ...