Financial Performance - Net revenues for Q3 2024 were $118.292 million, a decrease of 10.5% from $132.037 million in Q3 2023[28]. - The company reported a net income of $15.366 million in Q3 2024, compared to a net loss of $56.204 million in Q3 2023[28]. - Comprehensive income attributable to GoHealth, Inc. was $6,784 thousand for the three months ended September 30, 2024, compared to a loss of $23,849 thousand in the same period of the previous year[29]. - GoHealth, Inc. reported a net income of $15,366 thousand for the three months ended September 30, 2024, compared to a net loss of $56,204 thousand for the same period in 2023, marking a significant turnaround[29]. - The net income per share of Class A common stock was $0.58 for Q3 2024, a significant improvement from a loss of $2.61 per share in Q3 2023[28]. - The company reported a comprehensive loss of $65,326 thousand for the nine months ended September 30, 2024, compared to a loss of $148,787 thousand for the same period in 2023[29]. - GoHealth reported a net loss of $65.294 million for the nine months ended September 30, 2024, compared to a net loss of $148.976 million for the same period in 2023, indicating a significant improvement[35]. Revenue and Expenses - Total operating expenses for Q3 2024 were $160.964 million, down from $170.013 million in Q3 2023, reflecting a reduction of 5.9%[28]. - The company experienced a significant reduction in revenue share expenses, which were $19.683 million in Q3 2024 compared to $35.992 million in Q3 2023, a decrease of 45%[28]. - Marketing and advertising expenses increased to $45.270 million in Q3 2024 from $39.416 million in Q3 2023, representing a rise of 14.7%[28]. - The company experienced a share-based compensation expense of $6.534 million for the nine months ended September 30, 2024, down from $15.298 million in the prior year[35]. - General and administrative expenses for the three months ended September 30, 2024, were $17.1 million, an increase of $4.2 million or 32.2% compared to the prior year[167]. - Interest expense for the three months ended September 30, 2024, was $19.1 million, an increase of $1.5 million or 8.7% year-over-year[170]. Assets and Liabilities - Total current assets decreased to $334,043 thousand as of September 30, 2024, down from $476,440 thousand at the end of 2023, primarily due to a reduction in cash and cash equivalents[30]. - The company’s total assets decreased to $1,341,153 thousand as of September 30, 2024, compared to $1,499,570 thousand at December 31, 2023, reflecting a decline of approximately 10.6%[30]. - Cash and cash equivalents significantly decreased to $35,527 thousand as of September 30, 2024, from $90,809 thousand at December 31, 2023, indicating a liquidity challenge[30]. - The company’s accumulated deficit increased to $448,717 thousand as of September 30, 2024, compared to $420,280 thousand at the end of 2023, reflecting ongoing financial pressures[30]. - Total stockholders' equity attributable to GoHealth, Inc. decreased to $212,040 thousand as of September 30, 2024, from $231,014 thousand at the end of 2023, a decline of approximately 8.2%[30]. Debt and Financing - As of September 30, 2024, total long-term debt amounted to $416.3 million, down from $422.7 million as of December 31, 2023[61]. - The effective interest rate on Term Loan Facilities was 13.4% as of September 30, 2024, compared to 13.0% as of December 31, 2023[63]. - Future maturities of debt include $25.0 million due in the fourth quarter of 2024 and $40.0 million due in 2025[61]. - The principal amount outstanding under Term Loan Facilities was $99.5 million, $266.8 million, and $86.5 million for different loan categories as of September 30, 2024[203]. - The Company had $40.0 million outstanding under the Revolving Credit Facilities as of September 30, 2024, with a remaining capacity of $48.5 million[205]. Operational Metrics - Adjusted EBITDA margin is a key performance measure, calculated as Adjusted EBITDA divided by net revenues, providing insights into operational efficiency[19]. - Direct Operating Cost per Submission for the period is a critical metric for evaluating submission performance, reflecting the average cost associated with submissions generated[24]. - The number of Submissions for the nine months ended September 30, 2024, was 166,195, an increase of 2.9% from 161,550 in 2023[181]. - Sales per Submission for the three months ended September 30, 2024, decreased to $702, down 13.7% from $813 in the same period of 2023[188]. - Direct Operating Cost of Submission decreased to $110.2 million for the three months ended September 30, 2024, from $120.4 million in the prior year[193]. Market and Strategic Initiatives - The company aims to simplify the health insurance enrollment process for Medicare-eligible consumers through its technology-driven marketplace and licensed agents[36]. - The introduction of PlanFit CheckUp utilizes analytics from nearly 30 million consumer touchpoints to match consumers with suitable Medicare plans[150]. - The company is focusing on streamlining processes and improving call handle times through the launch of Encompass Express[152]. - The acquisition of e-TeleQuote Insurance, Inc. was completed on September 30, 2024, expanding agent capacity without the need for further hiring[155]. - The Company recognized a gain on bargain purchase of $77.4 million from the acquisition of e-TeleQuote Insurance, Inc., which is included in the Condensed Consolidated Statements of Operations[138].

Core Viewpoint - GoHealth reported a quarterly loss of $3.73 per share, which was worse than the Zacks Consensus Estimate of a loss of $3.19, and a significant increase from a loss of $2.61 per share a year ago, indicating ongoing financial challenges for the company [1] Financial Performance - GoHealth's revenues for the quarter ended September 2024 were $118.29 million, exceeding the Zacks Consensus Estimate by 11.67%, but down from $132.04 million in the same quarter last year [2] - Over the last four quarters, GoHealth has surpassed consensus EPS estimates only once [2] Stock Performance - GoHealth shares have declined approximately 4.4% since the beginning of the year, contrasting with the S&P 500's gain of 24.3% [3] Future Outlook - The company's earnings outlook will be crucial for its stock performance, with current consensus EPS estimates at $1.50 for the upcoming quarter and -$5.35 for the current fiscal year [4][7] - The estimate revisions trend for GoHealth is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Insurance - Life Insurance industry, to which GoHealth belongs, is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable industry outlook that could positively influence GoHealth's performance [8]

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 ...