Business
GoHealth Reports Fourth Quarter and Fiscal 2020 Results
Expects Continued Strong Growth in 2021 CHICAGO, March 8, 2021 /PRNewswire/ -- GoHealth, Inc. (NASDAQ: GOCO), a leading health insurance marketplace and
About this update from Gohealth, Inc.
[{"type":"text","content":"Expects Continued Strong Growth in 2021\n\n\nCHICAGO, March 8, 2021 /PRNewswire/ -- GoHealth, Inc. (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, announced financial results for the three and twelve months ended December 31, 2020.\n\n \n \n \n \n \n \n\n \nFourth quarter 2020 net revenue of $445.9 million increased 55% compared to the prior year period, and fiscal year 2020 net revenue of $877.4 million increased 63% compared to the prior year period Fourth quarter 2020 Medicare Advantage (MA) Submitted Policies of 330,604 increased 58% compared to the prior year period, and fiscal year 2020 MA Submitted Policies of 644,669 increased 81% compared to the prior year period Fourth quarter 2020 LTV per carrier Approved MA Submission of $1,073 increased 5% compared to the prior year period, and fiscal year 2020 LTV per carrier Approved MA Submission of $995 increased 3% compared to the prior year period Fourth quarter 2020 net income of $133.1 million and fiscal year 2020 net loss of $97.2 million (including $209.3 million of accelerated vesting of certain equity awards in connection with the IPO1) Fourth quarter 2020 adjusted EBITDA2 of $169.9 million increased 31% compared to the prior year period, and fiscal year 2020 adjusted EBITDA of $271.0 million increased 59% compared to the prior year period The Company provided its full year 2021 outlook, and expects total net revenue of $1,150 - $1,300 million (+31% to +48%) powered by commission revenue of $950 - $1,100 million (+42% to +64%). The company also expects adjusted EBITDA of $345 - $385 million (+27% to +42%) \nClint Jones, co-founder and CEO said, \"GoHealth's fourth quarter revenue growth of 55% was driven by 75% revenue growth in our Internal Medicare segment, including LTV expansion of 5%. These excellent top-line results reflect the great work of our agent force and a continuation of the strong full year trends where we grew revenue 63%, powered by a doubling of Internal Medicare revenue and leading to top-tier adjusted EBITDA margins of 31%. We continue to see strong consumer demand for our services, particularly around education, transparency and choice when evaluating their Medicare options.\" \nJones continued, \"We are the largest and most profitable DTC Medicare enroller with 730,000 submissions in 2020, and with...