Ehealth, Inc. · NASDAQ:EHTH
Ehealth — Q1 2023 Earnings Presentation
14 slides from Ehealth's earnings presentation, May 9, 2023
Slide 1: Q1 2023 Financial Results
Q1 2023 Financial Results Conference Call Slides 2023 Copyright eHealth Insurance. 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: Q1 2023 Highlights
Q1 2023 Highlights Strong first quarter performance reflects positive impact of the ongoing transformation plan Improved earnings compared to last year: Q1 2023 net loss of $19.9 million compared to net loss of $32.7 million in Q1 2022 Q1 2023 Adjusted EBITDA(1) of $(12.7) million compared t
Slide 4: Enhanced Q1 Medicare Unit Economics
Enhanced Q1 Medicare Unit Economics Q1-FY23 Q1-FY22 $1,000 $1,000 $948 $901 $800 $800 $600 $600 ($396) $400 $400 ($545) $200 $200 14% ($375) (4%) $- $- $130 ($441) ($38) $(200) $(200) MA LTV Variable Marketing Cost CC&E per MA- Per Unit MA LTV Variable Marketing Cost per MA-equivalent CC&E per MA- P
Slide 5: Significant Improvement in Q1 Profitability
Significant Improvement in Q1 Profitability Q1 ‘23 Net loss and Total Revenue ($MM) Net Loss ($MM) adjusted EBITDA improved $105.3 significantly (30%) compared to a year ($19.9) ago, on a lower ($32.7) $73.7 revenue base. Q1-FY22 Q1-FY23 The increase in Q1 profitability was Adjusted EBITDA ($MM) dri
Slide 6: Q1 Medicare Segment Performance
Q1 Medicare Segment Performance Medicare Segment Revenue ($MM) Medicare Segment Loss(1) ($MM) Q1 ‘23 Medicare segment revenue $95.1 declined 35% year- (35%) $61.8 over-year reflecting a ($3.4) reduction in our marketing spend and ($14.8) lower agent Q1-FY22 Q1-FY23 Q1-FY22 Q1-FY23 headcount. Medicar
Slide 7: Q1 Individual, Family, and Small Business Segment Performance
Q1 Individual, Family, and Small Business Segment Performance Individual, Family, and Small Business Individual, Family, and Small Business Q1 ‘23 Individual, Segment Revenue ($MM) Segment Profit(1) ($MM) Family, and Small $11.9 Business segment 17% $7.4 $10.2 $5.3 41% revenue and profit (1) grew co
Slide 8: Cash Flow & Liquidity Metrics
Cash Flow & Liquidity Metrics Following a strong cash collection quarter in Q1, our trailing-twelve-month operating cash flow of ($13.2)M represents a year-over- year improvement of more than $145M. We believe we have ample liquidity to execute on our 2023 plan. Operating Cash Flow ($MM) Ending Cash
Slide 9: Total Cash Collected by Revenue Type
Total Cash Collected by Revenue Type Total Q1 cash collections of $160.2M declined 15% year-over-year driven by lower commission and non-commission revenue compared to Q1 2022. This was driven by lower first-year commissions collected as a result of our intentional reduction in customer acquisition
Slide 10: FY 2023 Operational Priorities
FY 2023 Operational Priorities 1 2 3 4 Build on our Improve Introduce the next Further diversify progress within conversion rates evolution of our eHealth’s revenue eHealth’s across our entire customer retention streams omnichannel enrollment strategy marketing and lead platform generation engine 20
Slide 11: FY 2023 Guidance
FY 2023 Guidance We are reaffirming our previously issued guidance ranges for the fiscal year ending December 31, 2023: 2023 Full Year Guidance Range (in millions) Total Revenue $420 – $440 GAAP Net Loss $55 – $35 Adjusted EBITDA(1) $(15) – $5 Operating Cash Flow $(30) – $(15) (1) Adjusted EBITDA is
Slide 12: Appendix
Appendix 2023 Copyright eHealth Insurance. 12
Slide 13: Net Loss Attributable to Common Stockholders to Adjusted EBITDA Reconciliation
Net Loss Attributable to Common Stockholders to Adjusted EBITDA Reconciliation 2023 Copyright eHealth Insurance. 13
Slide 14: Reconciliation of Non-GAAP Financial Measures to Guidance
Reconciliation of Non-GAAP Financial Measures to Guidance 2023 Copyright eHealth Insurance. 14