eHealth, Inc. (EHTH) announced preliminary, unaudited financial results. GAAP net income for the fourth quarter is expected to be in the range of $47 to $52 million. Total revenue is projected to be in the range of $241 to $249 million. Adjusted EBITDA is expected to be in the range of $65 to $70 million.
GAAP net loss for the year ended December 31, 2023 is expected to be in the range of $32 to $27 million as compared to its guidance of a GAAP net loss of $46 to $26 million. Total revenue is expected to be in the range of $446 to $454 million as compared to its guidance of $439 to $459 million. Adjusted EBITDA is expected to be in the range of $10 to $15 million.
Fran Soistman, CEO of eHealth, said: "During the fourth quarter, eHealth delivered strong year-over-year revenue and Medicare enrollment growth, while driving further expansion of our Medicare unit gross margin. Importantly, our full year 2023 operating cash flow represents a substantial improvement compared to a year ago, driven by favorable commission collections from our existing member cohorts as well as our disciplined approach to operating costs."
Shares of eHealth are up 16% in pre-market trade on Friday.
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