Business
GoHealth Announces Preliminary Fourth Quarter and Year End 2021 Results
CHICAGO, March 1, 2022 /PRNewswire/ -- GoHealth, Inc. (Nasdaq: GOCO), a leading health insurance marketplace and Medicare-focused digital health company,
About this update from Gohealth, Inc.
[{"type":"text","content":"CHICAGO, March 1, 2022 /PRNewswire/ -- GoHealth, Inc. (Nasdaq: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, announced today preliminary, unaudited financial results and select operating metrics for the fourth quarter and year ended December 31, 2021.\n\n \n \n \n \n \n \n\n \nNet revenue for the fourth quarter of 2021 is expected to be in the range of $425.0 million to $470.0 million, compared with $445.9 million for the prior year period. Net revenue for the year ended December 31, 2021 is expected to be in the range of $1,040.0 million to $1,085.0 million, compared with $877.4 million for the prior year and the Company's previously issued guidance of $1,200.0 million to $1,300.0 million. These expected net revenue ranges are inclusive of a 15% Medicare Advantage (\"MA\") lifetime value (\"LTV\") constraint applied to all MA policies sold in the fourth quarter of 2021 and negative revenue adjustments relating to performance obligations satisfied in 2018, 2019, 2020 and the first nine months of 2021 (the \"Lookback Adjustments\"), as further described below. Net loss for the fourth quarter of 2021 is expected to be in the range of $52.7 million to $38.8 million, compared with net income of $133.1 million for the prior year period. Net loss for the year ended December 31, 2021 is expected to be in the range of $155.0 million to $141.0 million, compared with net income of $97.2 million for the prior year and the Company's previously issued guidance of net income in the range of $126.6 million to $156.6 million. These expected net loss ranges exclude an expected goodwill impairment charge, as further described below. Adjusted EBITDA1 for the fourth quarter of 2021 is expected to be in the range of negative $5.5 million to positive $8.5 million, compared with positive $169.9 million for the prior year period. Adjusted EBITDA1 for the year ended December 31, 2021 is expected to be in the range of $26.5 million to $40.5 million, compared with $271.0 million for the prior year and the Company's previously issued guidance of $300.0 million to $330.0 million. Adjusted EBITDA1 includes the impact of the Lookback Adjustments for both the fourth quarter of 2021 and the year ended December 31, 2021, which is expected to have an unfavorable impact in the range of $102.0 million to $109.0 million a...