Gohealth, Inc. · NASDAQ:GOCO
Gohealth — Q4 2022 Earnings Presentation
20 slides from Gohealth's earnings presentation, Mar 16, 2023
Slide 1: Fourth Quarter and Full Year 2022 Results
Fourth Quarter and Full Year 2022 Results MARCH 16, 2023 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS These slides contains 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: Highlights & Business Update
Highlights & Business Update Vijay Kotte | Chief Executive Officer 4
Slide 5: Fourth Quarter & Year End Highlights
Fourth Quarter & Year End Highlights • The transformation of GoHealth is advancing • Achieving improved cash flow from operations ahead of schedule • Maximizing efficiency of our model • Prioritizing more experienced, higher quality sales agents over volume 5
Slide 6: The Problem Facing the Industry
The Problem Facing the Industry The Medicare landscape can be abrasive and disjointed for consumers The number of eligible Medicare enrollees choosing Medicare Advantage (MA) plans has increased 130%* since 2009. MA’s rapid growth has led to issues for beneficiaries and health plan partners: Benefic
Slide 7: The GoHealth Model & Medicare Advantage Market Continues to Evolve
The GoHealth Model & Medicare Advantage Market Continues to Evolve • Diversification to Encompass Solution is intentional and strategic • Beneficiary needs continuously change and annual plan assessment, or shopping, is healthy but challenging in a complex environment • Average beneficiary has acces
Slide 8: GoHealth is Well-Positioned to Redefine the Medicare Experience
GoHealth is Well-Positioned to Redefine the Medicare Experience Opportunity to serve as integrated “navigator” through the Medicare care journey 10M+ Medicare evaluations, allowing us to understand Proven, high- beneficiary needs quality Medicare Marketing based agents on experience and insights fr
Slide 9: Financial Review & Outlook
Financial Review & Outlook Jason Schulz | Chief Financial Officer 9
Slide 10: Q4'22 Reported Results Bridge to Go-Forward Financials
Q4’22 Reported Results Bridge to Go-Forward Financials Adjusting reported results for a go-forward perspective 1. Numbers may not sum due to rounding. There may be slight differences to numbers shown in the Press Release due to rounding. 2. Net revenue excluding the Lookback Adjustment and Adjusted
Slide 11: FY'22 Reported Result Bridge to Go-Forward Financials
FY’22 Reported Result Bridge to Go-Forward Financials Adjusting reported results for a go-forward perspective 1. Numbers may not sum due to rounding. There may be slight differences to numbers shown in the Press Release due to rounding. 2. Net revenue excluding the Lookback Adjustments and Adjusted
Slide 12: Encompass De-Risks the Traditional LTV Model
Encompass De-Risks the Traditional LTV Model Encompass can deliver predictable, positive margins for GOCO annually, provides positive net cash in year 1, and yields a high-quality beneficiary experience Encompass can deliver more predictable, … and provides positive net cash in Y1, positive margins
Slide 13: Q4 Medicare Unit Economics
Q4 Medicare Unit Economics Improving YoY unit economics driven by expansion in revenue and reduction of variable costs Unit Economics per Submission1,3 • With the strategic shift to the Encompass Solution and moving to a more efficient operating model, the Company increased profitability 3.5x YoY (w
Slide 14: FY Cashflow & Total Debt Overview
FY Cashflow & Total Debt Overview Evolving the operating model not only drives beneficiary satisfaction, but also drives liquidity flexibility Dramatic improvement of $360M in operating cash Continue to evaluate debt options to optimize against flow, which provides liquidity flexibility market condi
Slide 15: 2023 Financial Guidance Compared to 2022 Go-Forward Financials
2023 Financial Guidance Compared to 2022 Go-Forward Financials Guidance range 1. Revenue and Adj. EBITDA numbers are provided on a go-forward basis, excluding the Lookback Adjustments and non-Encompass BPO Services. These are non-GAAP numbers. For fourth quarter and full year impact on revenue for t
Slide 16: Questions & Answers
Questions & Answers 16
Slide 17: Investor Relations and Media Contacts
Improving Access to Healthcare in America INVESTOR RELATIONS CONTACT: MEDIA CONTACT: John Shave Melissa Johnson VP, Investor Relations Senior Manager, Brand Communications Email: JShave@gohealth.com Email: MJohnson18@gohealth.com 17
Slide 18: Appendix
Appendix 18
Slide 19: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Adjustments to EBITDA ($ in thousands) Description of Adjustments Q4 2022 Q4 2021 FY 2022 FY 2021 Represents non-cash share-based compensation expense relating to 1 equity awards, as well share-based compensation expense relating to Net income (loss) $
Slide 20: Reconciliation of Net Revenue and Adjusted EBITDA to Go-Forward Financials
Reconciliation of Net Revenue and Adjusted EBITDA to Go-Forward Financials ($ in thousands) Q4 2022 Q4 2021 FY 2022 FY 2021 Net revenue $69,376 $449,600 $631,675 $1,062,415 Lookback Adjustments reported during the indicated periods 266,383 155,002 275,709 165,296 Lookback Adjustments attributed to 2