Press release
eHealth, Inc. Announces Fourth Quarter 2020 and Fiscal 2020 Results
Fourth Quarter 2020 Overview - Revenue for the fourth quarter of 2020 was $293.3 million, a 3% decrease compared to $301.7 million for the fourth quarter of
About this update from Ehealth, Inc.
[{"type":"text","content":"Fourth Quarter 2020 Overview\n - Revenue for the fourth quarter of 2020 was $293.3 million, a 3% decrease compared to $301.7 million for the fourth quarter of 2019.\n - GAAP net income for the fourth quarter of 2020 was $59.9 million compared to net income of $88.8 million for the fourth quarter of 2019.\n - Adjusted EBITDA was $84.2 million for the fourth quarter of 2020 compared to $142.6 million for the fourth quarter of 2019.\n - Revenue and adjusted EBITDA for the fourth quarter of 2019 include the positive impact of $42.3 million in revenue resulting from a change in estimate for expected cash commission collections relating to Medicare Advantage plans enrolled in prior to the fourth quarter of 2019.\n - Excluding the impact of the $42.3 million change in estimate in the fourth quarter of 2019 , our fourth quarter 2020 revenue increased 13% compared to a year ago.\n - Fourth quarter 2020 approved members for Medicare Advantage products of 217,278, a 30% increase compared to the fourth quarter of 2019.\n - Drove online penetration with 43% of major medical Medicare applications submitted online in the fourth quarter of 2020 compared to 36% in the fourth quarter of 2019.\n - Launched online Customer Center aimed at further enhancing consumer experience and increasing customer engagement and retention. Customer Center sign-ups are currently above 100,000.\n\n\nSANTA CLARA, Calif., Feb. 18, 2021 /PRNewswire/ -- eHealth, Inc. (NASDAQ: EHTH), a leading private online health insurance marketplace, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2020. \n\"Although 2020 presented challenges, eHealth made notable progress building out our capabilities, and positioning the company to capture significant market opportunities ahead,\" said Scott Flanders, Chief Executive Officer of eHealth. \"As part of our strategy to drive growth, increase quality of enrollments and achieve higher lifetime values, we made investments in our e-commerce platform and implemented a multifaceted program to improve member retention.\"\n\"We believe that issues that impacted our fourth quarter performance were isolated and can be corrected in the near term. We took decisive and critical actions to fix these issues and cement a strong foundation for our long-term performance. Our actions are already demonstrati...