Gohealth, Inc. · NASDAQ:GOCO
Gohealth — Q1 2023 Earnings Presentation
9 slides from Gohealth's earnings presentation, May 8, 2023
Slide 1: First Quarter 2023 Results
First Quarter 2023 Results MAY 8, 2023 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS These slides contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding the
Slide 3: Non-GAAP Financial Measures and Key Performance Indicators
Non-GAAP Financial Measures and Key Performance Indicators In these slides, we use supplemental measures of our performance that are derived from our consolidated financial information, but which are not presented in our Consolidated Financial Statements prepared in accordance with Generally Accepte
Slide 4: Q1'23 Reported Results Bridge to Go-Forward Financials
Q1’23 Reported Results Bridge to Go-Forward Financials Adjusting reported results for a go-forward perspective Q1’23 REPORTED REVENUE RESULTS Q1’23 REPORTED ADJ. EBITDA RESULTS – BRIDGE ($M)1,2 – BRIDGE ($M)1,2 $183 $29 $176 $27 ($7) ($2) EXIT OF NON- EXIT OF NON- REPORTED GO-FORWARD REPORTED GO-FOR
Slide 5: Q1 Medicare Unit Economics
Q1 Medicare Unit Economics Improving YoY unit economics driven by a reduction of variable costs and a more efficient operating model SALES 11% Decline GROSS MARGIN4 $897 60% Improvement UNIT ECONOMICS $794 $202 PER SUBMISSION1,3 $126 Q1‘22 Q1‘23 COST2 23% Improvement ($771) ($592) 14% 25% 1. Sales a
Slide 6: Q1'23 TTM Cash Flow from Operations Bridge to Q1'22
Q1’23 TTM Cash Flow from Operations Bridge to Q1’22 ($’s in millions) $0M $303M CFfO Dependable & Improvement improving cash flow trends 1 2 3 4 1. Non-Agency Rate: This improvement shows the change in cash on a per submission basis for Non-Agency revenue (formerly Encompass revenue). This number is
Slide 7: 2023 Financial Guidance Compared to 2022 Go-Forward Financials
2023 Financial Guidance Compared to 2022 Go-Forward Financials 1. Revenue and Adj. EBITDA numbers are provided on a go-forward basis, excluding the Lookback Adjustments and non-Encompass BPO Services. These are non-GAAP numbers. For fourth quarter and full year impact on revenue for the Lookback Adj
Slide 8: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Adjustments to EBITDA ($ in thousands) Q1 2023 Q1 2022 Net revenues $183,158 $270,593 Net income (loss) $(22,543) $(37,241) Interest expense 16,891 11,398 Income tax expense (benefit) (44) 472 Depreciation and amortization expense 26,267 25,948 EBITDA
Slide 9: Reconciliation of Net Revenue and Adjusted EBITDA to Go-Forward Financials
Reconciliation of Net Revenue and Adjusted EBITDA to Go-Forward Financials ($ in thousands) Q1 2023 Q1 2022 Net revenues $183,158 $270,593 Lookback Adjustments reported during the indicated periods1 - 2,318 Net revenue excluding Lookback Adjustments 183,158 272,911 Exit of non-Encompass BPO services