Business
eHealth, Inc. Announces Second Quarter 2020 Results
Second Quarter 2020 Overview - Revenue for the second quarter of 2020 was $88.8 million, a 35% increase compared to $65.8 million for the second quarter of
About this update from Ehealth, Inc.
[{"type":"text","content":"Second Quarter 2020 Overview\n - Revenue for the second quarter of 2020 was $88.8 million, a 35% increase compared to $65.8 million for the second quarter of 2019.\n - GAAP net loss for the second quarter of 2020 was $3.4 million compared to net loss of $5.8 million for the second quarter of 2019.\n - Adjusted EBITDA was $1.7 million for the second quarter of 2020 compared to $0.8 million for the second quarter of 2019.\n - Net cash used in operating activities for the second quarter of 2020 was $21.3 million compared to $11.5 million for the second quarter of 2019.\n\n\n\n SANTA CLARA, Calif., July 23, 2020 /PRNewswire/ -- eHealth, Inc. (NASDAQ: EHTH), a leading private online health insurance marketplace, announces today its financial results for the second quarter ended June 30, 2020. \nScott Flanders, chief executive officer of eHealth stated, \"eHealth delivered another quarter of strong revenue and Medicare enrollment growth. The number of second quarter Medicare approved members grew ahead of our expectations driven by favorable market dynamics, growth in online enrollments and an increase in agent productivity compared to a year ago. Importantly, this enrollment growth was achieved while also reducing our total acquisition costs per approved Medicare member allowing us to once again exceed our internal forecast for revenue and earnings. Based on the strength of our business and reflecting the capital raise we completed in March, we are increasing our financial guidance for the full year ending 2020.\"\nGAAP — Second Quarter of 2020 ResultsRevenue — Revenue for the second quarter of 2020 totaled $88.8 million, a 35% increase compared to $65.8 million for the second quarter of 2019. Commission revenue for the second quarter of 2020 totaled $80.8 million, a 33% increase compared to $60.6 million for the second quarter of 2019. Other revenue for the second quarter of 2020 was $8.0 million, a 55% increase compared to $5.2 million for the second quarter of 2019.\nRevenue from our Medicare segment was $80.4 million for the second quarter of 2020, a 54% increase compared to $52.3 million for the second quarter of 2019. Revenue from our Individual, Family and Small Business segment was $8.4 million for the second quarter of 2020, a 38% decrease compared to $13.5 million for the second quarter of 2019. \nLoss from Operations — Los...