Financial Performance - Third quarter 2024 net revenues were $118.3 million, a decrease of $13.7 million compared to $132.0 million in the prior year period[3]. - Third quarter 2024 net income improved to $15.4 million, a $71.6 million increase from a net loss of $56.2 million in the prior year period[3]. - Adjusted EBITDA for the third quarter 2024 was negative $12.1 million, a decrease of $0.6 million compared to negative $11.5 million in the prior year period[3]. - The company reported a net income of $15,366 for the three months ended September 30, 2023, compared to a net loss of $56,204 in the prior year, representing a significant improvement[24]. - For the nine months ended September 30, 2023, net revenues were $409,762, a decrease of 10.5% from $457,974 in the same period last year[25]. - The adjusted EBITDA for the nine months ended September 30, 2023, was $2,479, a decrease from $18,091 in the prior year[25]. - The company reported an EBITDA of $60,860 for the three months ended September 30, 2024, compared to $(12,482) for the same period in 2023[26]. - The net income margin for the three months ended September 30, 2024, was 13.0%, compared to a net loss margin of (42.6)% for the same period in 2023[26]. Operational Metrics - Third quarter 2024 submissions increased by 2.9% to 166,195 from 161,550 in the prior year period, driven by internal captive agents[3]. - Direct Operating Cost per Submission improved by 11.0% in the third quarter 2024 compared to the prior year period, due to advancements in AI and operational efficiencies[3][4]. - Sales per submission decreased from $813 in the three months ended September 30, 2023, to $702 in the same period of 2024, a decline of 13.7%[31]. - Direct operating cost per submission decreased from $745 in the three months ended September 30, 2023, to $663 in the same period of 2024, a reduction of 11.0%[31]. - Direct operating cost of submission for the nine months ended September 30, 2024, was $346,112 thousand, down from $365,612 thousand in the same period of 2023[32]. - Sales/Direct operating cost of submission remained stable at 1.1 for the three months ended September 30, 2024, consistent with the same period in 2023[32]. Cash Flow and Assets - The trailing twelve months positive cash flow from operations was $35.1 million, an increase of $38.3 million compared to TTM negative cash flow of $3.2 million in the prior year period[3]. - Net cash used in operating activities for the nine months ended September 30, 2024, was $(36,211) thousand, compared to $37,840 thousand for the same period in 2023[30]. - Total current assets decreased from $476,440 thousand as of December 31, 2023, to $334,043 thousand as of September 30, 2024, a decline of approximately 29.9%[29]. - Total liabilities decreased from $1,499,570 thousand as of December 31, 2023, to $1,341,153 thousand as of September 30, 2024, a decline of approximately 10.6%[29]. - The accumulated deficit increased from $(420,280) thousand as of December 31, 2023, to $(448,717) thousand as of September 30, 2024[29]. - Total stockholders' equity attributable to GoHealth, Inc. decreased from $231,014 thousand as of December 31, 2023, to $212,040 thousand as of September 30, 2024[29]. Strategic Initiatives - The strategic acquisition of e-TeleQuote added approximately $90.5 million in contract assets and $22.5 million in cash, with a gain on bargain purchase of $77.4 million[3][4]. - GoHealth aims to leverage its expanded agent network and AI-driven technology to address the needs of over two million consumers losing coverage during the Medicare Annual Enrollment Period[4]. - The company appointed Brendan Shanahan as Chief Financial Officer, bringing over 30 years of healthcare and financial strategy expertise[3]. - GoHealth's investments in technology and agent capacity are expected to position the company for sustained growth and profitability amid market changes[4]. Expense Management - Total operating expenses for the three months ended September 30, 2023, decreased by 5.3% to $160,964, down from $170,013 year-over-year[24]. - Operating expenses for the nine months ended September 30, 2023, totaled $497,076, down 10.4% from $554,715 year-over-year[25]. - Marketing and advertising expenses increased by 14.9% to $45,270 for the three months ended September 30, 2023, compared to $39,416 in the same period last year[24]. - Marketing and advertising expenses for the three months ended September 30, 2024, decreased to $75 from $149 in the same period in 2023[28]. - Customer care and enrollment expenses for the three months ended September 30, 2024, were $189, down from $519 in the same period in 2023[28]. - Technology expenses for the three months ended September 30, 2024, were $293, a decrease from $676 in the same period in 2023[28]. - Total share-based compensation expense for the three months ended September 30, 2024, was $2,859, compared to a benefit of $(545) for the same period in 2023[28]. - Interest expense for the three months ended September 30, 2024, was $19,086, an increase from $17,565 in the same period in 2023[26].

CHICAGO, Oct. 17, 2024 (GLOBE NEWSWIRE) -- GoHealth Inc. (NASDAQ: GOCO) ("GoHealth" or the "Company") today announced Vijay Kotte, CEO of GoHealth, will present at the LD Micro Main Event Investor Conference on Tuesday, October 29th, 2024, at The Luxe Sunset Boulevard, Los Angeles, CA. The Company's presentation is scheduled to begin at 3:00 pm CT. The presentation will be webcast. Register to watch the virtual presentation here GOCO Investor Presentation at LD Micro Main Event. About GoHealth, Inc. GoHealt ...

CHICAGO, Oct. 10, 2024 (GLOBE NEWSWIRE) -- GoHealth, Inc. (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, today announced the appointment of Brendan Shanahan as Chief Financial Officer (CFO), effective October 14, following a comprehensive search process. Mr. Shanahan, a seasoned executive with over 30 years of financial leadership experience and over 20 years of expertise in the Medicare Advantage space, will oversee GoHealth's financial strategy and oper ...

Health insurance marketplace GoHealth has inked an agreement to buy Medicare-focused e-TeleQuote. The acquisition is expected to close Sept. 30, GoHealth said in a Wednesday (Sept. 4) news release. The company called the acquisition a "significant milestone in GoHealth's mission to deliver unparalleled consumer-centric solutions while reinforcing the companies' shared values of integrity, empathy, and accountability." GoHealth said both firms have deep industry expertise, and each has a "complementary set o ...

CHICAGO and CLEARWATER, Fla., Sept. 04, 2024 (GLOBE NEWSWIRE) -- GoHealth, Inc. (Nasdaq: GOCO), a leading health insurance marketplace, today announced that it entered into a purchase and subscription agreement which will ultimately lead to the acquisition of e-TeleQuote Insurance, Inc., a distinguished name in the Medicare insurance marketplace. The transaction is expected to close on September 30, 2024. This strategic move represents a significant milestone in GoHealth's mission to deliver unparalleled co ...

CHICAGO, Aug. 29, 2024 (GLOBE NEWSWIRE) -- GoHealth Inc. (NASDAQ: GOCO) ("GoHealth" or the "Company") today announced it will be featured as a presenting company at the H.C. Wainwright 26th Annual Global Investment Conference. The conference is being held on September 9-11, 2024. The in-person venue for the event is the Lotte New York Palace Hotel in New York City located at 455 Madison Avenue. Virtual participation will be staged simultaneously with over 550 company presentations scheduled as live feed or ...

CHICAGO, Aug. 20, 2024 (GLOBE NEWSWIRE) -- GoHealth, Inc. (GoHealth) (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, today announced the conclusion of the Alliance of Licensed Medicare Insurance Agencies (ALMIA) Medicare Conference. The event, hosted by GoHealth on Friday, August 16, convened senior healthcare leaders, policymakers, brokers, and innovators from across the healthcare sector to discuss the most pressing issues and emerging opportunities in M ...

Vancouver, British Columbia--(Newsfile Corp. - August 14, 2024) - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") is pleased to report multiple titanium-vanadium-bearing massive oxides occurrences from the reconnaissance program at the KM98 critical metals project. The property is 35 kilometres north of the Lac Tio Mine on the Côte-Nord of Québec. Scott Sheldon, CEO of Go Metals states, "We are seeing very encouraging critical minerals values at surface within all the anomalies at the greenfi ...

Financial Performance - GoHealth reported a quarterly loss of $0.75 per share, significantly better than the Zacks Consensus Estimate of a loss of $2.47, and an improvement from a loss of $1.77 per share a year ago, representing an earnings surprise of 69.64% [1] - The company posted revenues of $105.87 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 23.83%, and down from $142.78 million in the same quarter last year [2] - Over the last four quarters, GoHealth has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - GoHealth shares have declined approximately 13.4% since the beginning of the year, contrasting with the S&P 500's gain of 9% [3] - The current consensus EPS estimate for the upcoming quarter is -$2.52 on revenues of $132.56 million, and for the current fiscal year, it is -$5.26 on revenues of $744.68 million [7] Industry Outlook - The Insurance - Life Insurance industry, to which GoHealth belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact GoHealth's stock performance [5]

Financial Performance - Second quarter 2024 net revenues were $105.9 million, a decrease of $36.9 million (26%) compared to $142.8 million in the prior year period[2]. - The net loss for the second quarter 2024 was $59.3 million, an improvement of $10.9 million compared to a net loss of $70.2 million in the prior year period[2]. - Adjusted EBITDA for the second quarter 2024 was negative $12.3 million, a decrease of $13.1 million compared to positive $0.8 million in the prior year period[2]. - For the first half of 2024, net revenues were $291,470, down 10.6% from $325,937 in the first half of 2023[23]. - Total operating expenses for Q2 2024 were $146,480, down 25.2% from $195,795 in Q2 2023[22]. - The company reported a net income margin of (56.0)% in Q2 2024, compared to (49.2)% in Q2 2023[22]. - Total Medicare Revenue for the three months ended June 30, 2024, was $105,124, a decrease from $138,702 in the same period of 2023, representing a decline of 24%[25]. - Total Agency Revenue for the six months ended June 30, 2024, was $183,803, compared to $235,253 for the same period in 2023, reflecting a decrease of 22%[25]. - Non-Agency Revenue for the three months ended June 30, 2024, was $20,444, down from $28,104 in the same period of 2023, a decline of 27%[25]. Operational Metrics - Submissions in the second quarter 2024 totaled 152,394, reflecting a 6% decrease from 162,837 in the prior year period[2]. - Sales per Submission for the three months ended June 30, 2024, was $690, down from $852 in the same period of 2023, a decrease of 19%[29]. - For the six months ended June 30, 2024, submissions totaled 368,542, down from 376,482, representing a decrease of 7,940 submissions or about 2.1%[30]. - For the six months ended June 30, 2024, sales per submission was $787, compared to $819, a decrease of $32 or 3.9%[30]. - Direct cost of submission for the three months ended June 30, 2024, was $97,618, down from $118,080, a reduction of $20,462[31]. - The direct cost per submission for the three months ended June 30, 2024, was $641, compared to $725 for the same period in 2023[31]. Cash Flow and Assets - Trailing twelve months positive cash flow from operations was $53.8 million, down $32.1 million from $85.9 million in the prior year period[2]. - The company reported a net cash used in operating activities of $(23,984) for the six months ended June 30, 2024, compared to $31,340 in the same period of 2023[28]. - Total current assets decreased to $301,172 as of June 30, 2024, from $476,440 as of December 31, 2023, a decline of 37%[27]. - Total assets decreased to $1,257,075 as of June 30, 2024, from $1,499,570 as of December 31, 2023, reflecting a decrease of 16%[27]. - Total stockholders' equity attributable to GoHealth, Inc. decreased to $202,732 as of June 30, 2024, from $231,014 as of December 31, 2023, a decline of 12%[27]. Marketing and Strategic Initiatives - The company is intensifying targeted marketing efforts in preparation for the upcoming annual enrollment period (AEP) in 67 days[2]. - GoHealth is focusing on leveraging advancements in artificial intelligence and automation to enhance operational efficiency and consumer experience[2]. - The mix of agency versus non-agency agreements is expected to be a key driver of cash flow from operations performance[2]. - GoHealth's proprietary technology aims to deliver more precise, data-driven insights and improve agent efficiency[2].