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].

Company Overview - GoHealth (GOCO) shares increased by 9.2% to close at $13.98, with a notable 28% gain over the past four weeks, supported by solid trading volume [1] - The company is transitioning from a Medicare enrollment company to a Medicare engagement company, focusing on enhancing customer interactions and satisfaction through various initiatives [2][6] Financial Performance - GoHealth is expected to report a quarterly loss of $2.47 per share, reflecting a year-over-year decline of 39.6%, with revenues projected at $140.66 million, down 1.5% from the previous year [3] - The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [4] Industry Context - GoHealth operates within the Zacks Insurance - Life Insurance industry, which is currently facing margin pressure, particularly for non-special needs plans, leading to potential benefit disruptions and market exits [5][7] - Despite these challenges, health plans are seeking targeted growth, and GoHealth is well-positioned to assist in achieving this growth in specific markets and products [7] Market Sentiment - The stock currently holds a Zacks Rank 3 (Hold), indicating a neutral sentiment in the market [9]

Core Insights - GoHealth, Inc. has announced changes to its Board of Directors, welcoming two new members, Alan Wheatley and Abhiraj Modi, to fill the vacancies left by Joseph Flanagan and Christopher Litchford [1][2]. Company Overview - GoHealth is a leading health insurance marketplace focused on Medicare, utilizing advanced technology and data science to assist consumers in selecting appropriate healthcare plans [4]. - The company has successfully enrolled millions in Medicare and individual family plans since its inception [4]. Board Changes - Alan Wheatley, former President of Medicare at Humana, brings over thirty years of experience in the Medicare sector, including a decade in senior executive roles at Humana [2]. - Abhiraj Modi, Managing Director at Centerbridge Partners, has over ten years of experience focusing on financial services and healthcare investments [2]. - The addition of Wheatley and Modi is expected to enhance GoHealth's strategic decision-making and commitment to transforming the Medicare Advantage industry [3].

GoHealth welcomes Alan Wheatley, former President of Medicare at Humana, and Abhiraj Modi, Managing Director at Centerbridge Partners as its newest members of the Board, filling the open seats made available by the transitions of Joseph Flanagan and Christopher Litchford off of the board. Mr. Wheatley brings over thirty years of experience in the Medicare space, including over a decade at Humana as a senior executive. Mr. Modi has spent over a decade at Centerbridge focusing on financial services and health ...

CHICAGO, June 18, 2024 (GLOBE NEWSWIRE) -- GoHealth, Inc. (GoHealth) (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, announced the company will present at the Noble Capital Markets Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference on Wednesday, June 26, 2024, at 2:00 p.m. Eastern Time. A live webcast of the presentation may be accessed through a link that will be posted on GoHealth's Investor Relations website, https ...

Jose Luis Pelaez Inc/DigitalVision via Getty Images GoHealth (NASDAQ:GOCO) is a large-scale broker of insurance products, especially the popular Medicare Advantage plans in which Medicare benefits are delivered by a private insurer, although the company brokers for Medicare supplement plans and other insurance product lines as well. The basic outline of the business model is this: consumers looking for a Medicare plan that best suits their needs can face a vast ocean of choices, with a range of benefit opti ...

CHICAGO, May 22, 2024 (GLOBE NEWSWIRE) -- GoHealth, Inc. (GoHealth) (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, announced the company will present at the William Blair Growth Stock Conference on Wednesday, June 5, 2024, at 4:20 p.m. Eastern Time. A live webcast of the presentation may be accessed through a link that will be posted on GoHealth's Investor Relations website, https://investors.gohealth.com/. A replay will be available through the same link ...

Financial Performance - Q1'24 Cash Adjusted EBITDA was $70 million, compared to $78 million in Q1'23[16] - The company reported a $74 million improvement in Quarter-End Cash Adjusted EBITDA[14] - Q1'24 Adjusted Gross Margin per Submission was $216, an 7% improvement compared to $202 in Q1'23[20] - Sales per Submission increased by 8% from $794 in Q1'23 to $856 in Q1'24[20] - Cost per Submission increased by 8% from $592 in Q1'23 to $640 in Q1'24[20] Revenue and Adjusted EBITDA - Q1'24 TTM Reported Revenue was $734.4 million, a decrease from $737.1 million in Q1'23 TTM[39] - Q1'24 TTM Reported Adjusted EBITDA was $71.9 million, an increase from $73.2 million in Q1'23 TTM[39] - Q1'24 Net revenues were $185.6 million, compared to $183.158 million in Q1'23[55] - Adjusted EBITDA for Q1'24 was $26.894 million, compared to $28.778 million in Q1'23[55] Non-GAAP Measures - The company uses non-GAAP financial measures, including Adjusted EBITDA and Cash Adjusted EBITDA, to evaluate performance[37] - Cash Adjusted EBITDA equals Adjusted EBITDA plus or minus the year-over-year change in net contract assets[45]

Financial Performance - Net revenues for Q1 2024 were $185,600,000, a slight increase from $183,158,000 in Q1 2023, representing a growth of 1.3%[25] - Total operating expenses for Q1 2024 were $189,632,000, compared to $188,907,000 in Q1 2023, indicating an increase of 0.4%[25] - Net loss attributable to GoHealth, Inc. for Q1 2024 was $9,216,000, slightly higher than the net loss of $9,179,000 in Q1 2023[25] - The company reported a comprehensive loss of $21,351,000 for Q1 2024, compared to a comprehensive loss of $22,538,000 in Q1 2023, reflecting an improvement of 5.2%[29] - For the three months ended March 31, 2024, GoHealth reported a net loss of $21,346 thousand, compared to a net loss of $22,543 thousand for the same period in 2023, reflecting a decrease in losses of approximately 5.4%[39] - The net loss attributable to common stockholders for the three months ended March 31, 2024, was $10.1 million, compared to a net loss of $10.1 million for the same period in 2023[100] - The company reported a net loss of $21.3 million for Q1 2024, slightly improved from a net loss of $22.5 million in Q1 2023[160] Cash and Liquidity - Cash and cash equivalents increased to $97,818,000 as of March 31, 2024, up from $90,809,000 at the end of 2023[31] - Cash and cash equivalents totaled $97.8 million as of March 31, 2024, indicating sufficient liquidity for projected operating and debt service requirements for at least the next twelve months[178] - Net cash provided by operating activities was $12.5 million in Q1 2024, down from $20.5 million in Q1 2023[179] - Net cash provided by operating activities decreased to $12.5 million for Q1 2024, down from $20.5 million in Q1 2023, a decrease of 39% driven by working capital components[183] - Net cash used in investing activities increased to $4.6 million for Q1 2024, up from $2.2 million in Q1 2023, primarily due to increased capitalized internal-use software related to new technology[185] - Net cash used in financing activities decreased to $0.9 million for Q1 2024, compared to $2.4 million in Q1 2023, reflecting a $1.4 million paydown of debt that did not occur in Q1 2024[186] Assets and Liabilities - Total assets decreased to $1,395,258,000 as of March 31, 2024, down from $1,499,570,000 at the end of 2023, a decline of 6.9%[31] - Total stockholders' equity attributable to GoHealth, Inc. was $225,875,000 as of March 31, 2024, down from $231,014,000 at the end of 2023, a decrease of 2.2%[31] - GoHealth's total liabilities increased to $366,202 thousand as of March 31, 2024, compared to $357,023 thousand at the beginning of the year, reflecting an increase of approximately 2.3%[36] - The Company’s total long-term debt as of March 31, 2024, was $410.3 million, down from $422.7 million as of December 31, 2023[62] Revenue Breakdown - Commission revenue for the three months ended March 31, 2024, was $79.7 million, down from $97.5 million in the same period of 2023, a decrease of 18.3%[106] - Non-agency revenue increased significantly to $85.9 million for the three months ended March 31, 2024, compared to $45.0 million in the same period of 2023, reflecting an increase of 90.5%[106] - Commission revenue for the three months ended March 31, 2024, was $81,162,000, a decrease of 17.4% from $98,265,000 in the same period of 2023[114] - Aetna represented 29.9% of total revenue for the three months ended March 31, 2024, compared to 6.1% in 2023, indicating a significant increase in reliance on this customer[116] Operating Expenses - Interest expense for Q1 2024 was $17,951,000, an increase from $16,891,000 in Q1 2023, representing a rise of 6.3%[25] - The company experienced a decrease in share-based compensation expenses, reporting $1,783 thousand in Q1 2024 compared to $4,444 thousand in Q1 2023, a reduction of approximately 60%[39] - Marketing and advertising expenses rose by 15.4% to $52.8 million, accounting for 28.4% of net revenues, driven by enhanced targeted marketing efforts[147][148] - Consumer care and enrollment expenses increased by 13.9% to $47.9 million, representing 25.8% of net revenues, attributed to a higher agent headcount[149] - Operating expenses totaled $189.6 million for the three months ended March 31, 2024, compared to $188.9 million in the prior year[145] Strategic Initiatives - The company aims to simplify the health insurance enrollment process for Medicare-eligible consumers, leveraging a scalable technology platform and a high-touch consumer care team[41] - The company has shifted its focus from traditional Medicare enrollment to a Medicare engagement model, enhancing consumer relationships and support[134] - The vConnect program, launched in Q2 2023, allows the company to offer enrollment and engagement services to external partners, moving away from the traditional agency structure[135] - The company is investing in technology enhancements, including Customer 360 and PlanFit CheckUp, to improve consumer experience and operational efficiency[137][138] - GoHealth, Inc. is exploring market expansion opportunities in new geographic regions, aiming to increase its market share by C% over the next two years[213] Future Outlook - GoHealth, Inc. provided an optimistic outlook for the upcoming quarters, projecting revenue growth of B% for the full year 2024[213] - The introduction of the CMS Final 2025 Marketing Rule is expected to impact Medicare Advantage plans and consumer shopping behaviors, necessitating strategic adjustments[140] Workforce and Restructuring - The restructuring initiatives led to the elimination of 828 full-time positions, representing approximately 23.7% of the workforce, to optimize costs[129] Legal and Compliance - The company has accrued $12,000,000 for legal proceedings related to the Securities Class Action and the Derivative Action, with $10,500,000 paid towards the settlement as of March 13, 2024[125] - Management concluded that internal control over financial reporting was effective as of March 31, 2024, ensuring reliability in financial reporting[198] - There were no material changes in risk factors from those disclosed in the 2023 Annual Report on Form 10-K[204]