Bright Health Group(BHG) - 2025 Q2 - Quarterly Results

Financial Performance - NeueHealth reported revenue of $209,082,000 for Q2 2025, a decrease of 7.5% compared to $225,991,000 in Q2 2024[4] - The company achieved a net loss of $1,548,000 in Q2 2025, significantly improved from a net loss of $57,698,000 in Q2 2024[4] - Adjusted EBITDA for Q2 2025 was $19,020,000, compared to $3,962,000 in Q2 2024, marking a substantial increase[4] - Total revenue for the three months ended June 30, 2025, was $209,082,000, a decrease of 7.4% compared to $225,991,000 in the same period of 2024[15] - Operating income for the three months ended June 30, 2025, was $14,257,000, compared to an operating loss of $37,549,000 in the same period of 2024[15] - Net loss attributable to common shareholders for the three months ended June 30, 2025, was $(23,501,000), a significant improvement from $(71,390,000) in 2024[15] - For the three months ended June 30, 2025, the net loss was $1,548 thousand, a significant improvement compared to a net loss of $57,698 thousand in the same period of 2024[24] - Adjusted EBITDA for the six months ended June 30, 2025, was $32,499 thousand, compared to $7,618 thousand for the same period in 2024, indicating a substantial increase in operational performance[24] Consumer Metrics - The number of value-based consumers served increased by 50% year-over-year, reaching 546,000 in Q2 2025, up from 364,000 in Q2 2024[4] - The company served approximately 694,000 consumers in Q2 2025, reflecting a 45% increase over the same period in 2024[6] Assets and Liabilities - Total assets as of June 30, 2025, were $743,689,000, an increase from $544,383,000 at the end of 2024[13] - Current liabilities rose to $908,412,000 as of June 30, 2025, compared to $710,228,000 at the end of 2024[13] - Cash and cash equivalents increased to $131,618,000 as of June 30, 2025, up from $83,295,000 at the end of 2024[13] - Cash and cash equivalents at the end of the period increased to $212,931,000 from $261,458,000 in the same period of 2024[17] Cost Management - Total operating expenses for the three months ended June 30, 2025, were $194,825,000, down from $263,540,000 in 2024, reflecting a decrease of 26.1%[15] - Medical costs for the three months ended June 30, 2025, were $146,410,000, a decrease from $177,681,000 in 2024, indicating a reduction of 17.6%[15] - The Operating Cost Ratio for the three months ended June 30, 2025, improved to 21.5% from 31.1% in 2024, reflecting enhanced cost management[25] - The Adjusted Operating Cost Ratio for the six months ended June 30, 2025, was 20.1%, compared to 17.1% in 2024, showing a slight increase in operational efficiency despite higher costs[25] Future Plans and Strategies - The company is focused on advancing its value-based care enablement platform to enhance clinical, financial, and administrative functions[3] - NeueHealth is pursuing a merger agreement with NH Holdings 2025, Inc., which could significantly impact its future operations[9] - The company plans to continue focusing on market expansion and new product development to drive future growth[15] - The company plans to continue focusing on operational improvements and cost management strategies to enhance future performance[25] Other Financial Metrics - Capitated revenue increased to $82,532,000 for the three months ended June 30, 2025, from $64,005,000 in 2024, representing a growth of 28.9%[15] - Interest expense for the three months ended June 30, 2025, increased to $6,878 thousand from $4,110 thousand in 2024, indicating rising financing costs[24] - Share-based and other long-term incentive compensation expense for the three months ended June 30, 2025, was $2,012 thousand, a decrease from $21,236 thousand in 2024, reflecting a reduction in non-cash compensation[24] - The company reported a loss from discontinued operations of $8,386 thousand for the three months ended June 30, 2025, down from $18,439 thousand in 2024, indicating improved performance in ongoing operations[24] - The EBITDA adjustments from continuing operations for the three months ended June 30, 2025, totaled $12,182 thousand, compared to $43,221 thousand in 2024, suggesting a shift in operational focus[24] - The company incurred transaction costs of $1,011 thousand for the three months ended June 30, 2025, compared to a gain of $844 thousand in 2024, highlighting the impact of financing activities[24]