Ehealth, Inc. · NASDAQ:EHTH
Ehealth — Q3 2024 Earnings Presentation
18 slides from Ehealth's earnings presentation, Nov 6, 2024
Slide 1: Q3 2024 Financial Results
Q3 2024 Financial Results ©2024 eHealthInsurance Services, Inc. 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this
Slide 3: Q3 2024 Earnings Highlights
Q3 2024 Earnings Highlights Third quarter results reflect strong Medicare enrollment growth and our investments in AEP preparedness Q3 2024 Medicare submissions(1) across our core agency and carrier-dedicated Amplify platforms grew 22% compared to Q3 2023. Q3 2024 Medicare Advantage submissions(1)
Slide 4: AEP Preparation Highlights
AEP Preparation Highlights Marketing Sales Omnichannel Effectiveness Excellence Differentiation • Advancing our distinct • Entered AEP fully prepared for • Continue to set ourselves apart significant increase in call with unique omnichannel consumer brand as an volume that we anticipate enrollment t
Slide 5: Q3 2024 Revenue Reflects Strong Medicare Performance and Lower Tail Revenue
Q3 2024 Revenue Reflects Strong Medicare Performance and Lower Tail Revenue Total revenue in Q3 ‘24 Total Revenue ($MM) declined 10% as a result of lower positive net adjustment (tail) $64.7 (10%) revenue YoY, partially $58.4 offset by our strong $12.2 $1.2 Medicare business performance. Non-GAAP to
Slide 6: Q3 2024 Profitability Improved YoY Excluding Tail Revenue
Q3 2024 Profitability Improved YoY Excluding Tail Revenue (1) Q3 ‘24 GAAP net loss was GAAP Net Loss ($MM) Non-GAAP Net Loss ($MM) $42.5M compared to GAAP net loss of $37.0M ($37.0) ($43.3) in Q3 ‘23. ($42.5) ($46.3) Q3 ‘24 non-GAAP net loss(1) improved by $3.0M YoY reflecting Q3-FY23 Q3-FY24 Q3-FY2
Slide 7: Q3 2024 Medicare Segment Performance
Q3 2024 Medicare Segment Performance YoY comparisons of Medicare Segment Revenue ($MM) Medicare Segment Loss(1)($MM) Medicare segment revenue and segment loss(1) were impacted by $55.5 (4%) $53.2 a decline in Medicare $9.3 $1.1 ($15.3) segment tail revenue. ($17.9) Q3 ‘24 Medicare segment revenue de
Slide 8: Q3 2024 Medicare Segment Performance Cont.
Q3 2024 Medicare Segment Performance Cont. Q3 ’24 total Medicare Total Medicare Submissions(1) Total Acquisition Cost per Medicare submissions(1) grew 22% Advantage-equivalent Approved YoY. Member 22% Acquisition cost per Medicare Advantage- (16%) equivalent approved member improved 16% YoY. 55,518
Slide 9: Medicare Submitted Apps Growth
Medicare Submitted Apps Growth Total Submissions(1) Total BOR Submissions(1) Product Q3-2024 Q3-2023 YoY Q3-2024 Q3-2023 YoY Medicare Advantage 49,220 39,018 26.1% 47,002 38,934 20.7% Medicare Supplement 3,898 3,706 5.2% 1,728 3,706 (53.4%) Medicare Part D 2,400 2,676 (10.3%) 1,413 2,676 (47.2%) Tot
Slide 10: Cash Flow & Balance Sheet Highlights
Cash Flow & Balance Sheet Highlights Operating cash flow for the TTM ended 9/30/2024 declined year-over-year reflecting timing of certain cash receipts and cash compensation dynamics as we carried a larger advisor count this quarter than a year ago. Operating Cash Flow ($MM) Ending Cash, Cash Equiva
Slide 11: FY24 Operational Priorities
FY24 Operational Priorities 1 2 3 Advance our local Grow revenue market focused, Launch the next year-over-year omni-channel phase of our while producing enrollment engine to drive higher member loyalty & positive adjusted conversions and retention strategy EBITDA greater margins 4 5 Drive our B2B s
Slide 12: FY24 Guidance
FY24 Guidance We are reiterating the guidance ranges for FY 2024 that we updated as part of our last earnings report. Guidance includes an estimate for positive net adjustment revenue in the range of $14 to $20 million. 2024 Full Year Guidance Guidance Range (in millions) Total Revenue $470 – $495 G
Slide 13: Appendix
Appendix ©2024 eHealthInsurance Services, Inc. 13
Slide 14: Non-GAAP Financial Measure Definitions
Non-GAAP Financial Measure Definitions Non-GAAP financial measures within this presentation are defined as follows: • Non-GAAP total revenue excluding net adjustment revenue is calculated by excluding the effect of net commission revenue from members approved in prior periods (“net adjustment revenu
Slide 15: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (1) See slide 14 for the definition of non-GAAP financial measures. ©2024 eHealthInsurance Services, Inc. 15
Slide 16: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (1) See slide 14 for the definition of non-GAAP financial measures. ©2024 eHealthInsurance Services, Inc. 16
Slide 17: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (1) See slide 14 for the definition of non-GAAP financial measures. ©2024 eHealthInsurance Services, Inc. 17
Slide 18: Reconciliation of Guidance GAAP to Non-GAAP Financial Measures
Reconciliation of Guidance GAAP to Non-GAAP Financial Measures (1) See slide 14 for the definition of non-GAAP financial measures. ©2024 eHealthInsurance Services, Inc. 18