Ehealth, Inc. · NASDAQ:EHTH
Ehealth — Q3 2020 Earnings Presentation
13 slides from Ehealth's earnings presentation, Oct 22, 2020
Slide 1: Q3 2020 Financial Results Conference Call Slides
Q3 2020 Financial Results Conference Call Slides October 22, 2020
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: eHealth Q3 2020 Highlights
eHealth Q3 2020 Highlights Q3 2020 results reflect Q3 2020 revenue grew 35% Medicare carrier advertising strong momentum in compared to Q3 2019 revenue grew 103% year-over-year online Medicare enrollments, significant growth in Medicare 36% of Medicare major medical advertising revenue Adjusted EBIT
Slide 4: Revenue
Q3 2020 Revenue Revenue Q3 revenue growth driven by a 17% increase in approved Medicare members, a 103% growth in Revenue ($MM) Medicare carrier advertising revenue reflecting $ 94.3 carriers’ recognition of eHealth’s value proposition 35% Online marketing delivered a 125% year-over-year $ 69.9 grow
Slide 5: Net Loss and Adjusted EBITDA
Q3 2020 Net Loss and Adjusted EBITDA(1) Net Loss Adjusted EBITDA Net Loss ($MM) Adjusted EBITDA ($MM) ($ 11.0) ($ 13.3) ($ 14.5) ($ 18.8) Q3-FY19 Q3-FY20 Q3-FY19 Q3-FY20 Exceeded expectations due to significant growth in Medicare enrollments (1) Adjusted EBITDA is calculated by adding stock-based co
Slide 6: Medicare Segment Revenue and Loss
Q3 2020 Medicare Segment Revenue and Loss Q3 Medicare Medicare Segment Revenue Medicare Segment Loss Segment results reflect an Medicare Segment Revenue ($MM) Medicare Segment Loss ($MM) investment quarter in our telesales $ 70.4 23% capacity and $ 57.2 technology initiatives in preparation for the
Slide 7: Medicare Approved Members and New Paying Members
Q3 2020 Medicare Approved Members(1) and New Paying Members(2) Medicare approved Medicare Approved Members Medicare New Paying Members members grew 17% and new paying Medicare Approved Members (000s) Medicare New Paying Members members grew 21% in Q3 20 compared 60 (000s) 59 to a year ago, driven 17
Slide 8: Medicare Major Medical Online Application %
Medicare Major Medical Online Application%(1) Medicare Major Medical Online Application % Medicare Major Medical Online Application % On track to achieve 36% 37% to 40% online penetration for FY 30% 2020, compared to 24% 27% for FY 2019 21% 12% 11% Q1 Q2 Q3 FY 19 FY 20 (1) Major Medicare plans inclu
Slide 9: IFP Segment Revenue and Profit
Q3 2020 IFP Segment Revenue and Profit IFP Segment Revenue IFP Segment Profit Individual, Family and Small Business Segment Individual, Family and Small Business Segment Revenue ($MM) Profit ($MM) $23.9 88% $18.3 $12.7 387% $3.8 Q3-FY19 Q3-FY20 Q3-FY19 Q3-FY20 (1) Q3 20 IFP segment revenue and profi
Slide 10: Trailing Twelve Months Medicare Segment Commissions Cash Collections
Trailing Twelve Months (“TTM”) Medicare Segment Commissions Cash Collections Q3 20 TTM Medicare Segment commissions TTM Medicare Segment Commissions Cash Collections cash collections ($MM) increased by 47% year-over-year $300 +50% +49% +41% +45% +44% +46% +47% $250 Q3 20 TTM Medicare +44% +37% +33%
Slide 11: Medicare Advantage Variable Cost and Cash Collection
Medicare Advantage Variable Cost and Cash Collection Medicare Advantage Variable Cost and Cash Collection 2015 2016 2017 2018 2019 Variable Cost First Year Cash Collected Renewal Cash Collected Until Q3 20 Receivables Outstanding as of Q3 20 • Medicare Advantage (MA) variable cost and cash collectio
Slide 12: Medicare Advantage Plan Member Turnover Trend Since Q4 2018
Medicare Advantage Plan Member Turnover Trend Since Q4 2018 MA Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 (1) Approved Members 83,376 40,741 36,576 35,171 167,073 64,898 60,477 44,999 (2) Estimated Beginning (Paying) Membership 235,269 276,357 280,763 291,171 309,180 404,694 404
Slide 13: Medicare Advantage Plan Member Turnover Trend Since Q4 2018 (cont'd)
Medicare Advantage Plan Member Turnover Trend Since Q4 2018 (cont’d) (1) Approved members consist of the number of individuals on submitted applications that were approved by the relevant insurance carrier for the identified product during the period presented. Approved members may not pay for their