CHICAGO, August 11, 2021 — GoHealth, Inc. (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, announced financial results for the three and six months ended June 30, 2021.
- Second quarter 2021 net revenue of $196.9 million increased 55% compared to the prior year period. YTD 2021 net revenue of $401.1 million increased 50% compared to the prior year period.
- Second quarter 2021 Medicare—Internal revenue of $160.4 million increased 84% compared to the prior year period. YTD 2021 Medicare—Internal revenue of $317.8 million increased 74% compared to the prior year period.
- Second quarter 2021 Medicare Advantage (“MA”) Approved Submissions of 152,749 increased 58% compared to the prior year period. YTD 2021 MA Approved Submissions of 323,876 increased 52% compared to the prior year period.
- Second quarter 2021 MA LTV Per Approved Submission of $953 increased 5% compared to the prior year period. YTD 2021 MA LTV Per Approved Submission of $975 increased 11% compared to the prior year period.
- Second quarter 2021 net loss of $39.2 million compared to a net loss of $22.9 million in the prior year period; Adjusted EBITDA1 of $14.3 million decreased 47% compared to the prior year period due to the 2021 strategic investments in agent capacity, marketplace technology, branding and the Encompass Platform. YTD 2021 net loss was $46.4 million compared to a net loss of $23.8 million in the prior year period; Adjusted EBITDA1 of $46.4 million decreased 25% compared to the prior year period.
- The Company tightened its full year 2021 revenue outlook to $1,200 – $1,300 million (+37% to +48%) powered by commission net revenue of $1,000 – $1,100 million (+49% to +64%) as agent growth is tracking at the high end of expectations. The Company lowered its Adjusted EBITDA1 outlook to $300 – $330 million (+11% to +22%), primarily due to higher agent costs expected in 2021.
