eHealth, Inc. (EHTH) operates as a leading private online health insurance marketplace. The company provides consumer engagement, education, and health insurance enrollment solutions through its technology and service platform. EHTH sells a broad range of insurance products, including Medicare-related plans, individual and family plans, and small business health insurance plans.
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Medicare Segment - Offers Medicare-related health insurance plans, including Medicare Advantage, Medicare Supplement, and Medicare Part D prescription drug plans. Also includes ancillary products like dental and vision plans, fee-based BPO services, post-enrollment services, and advertising programs.
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Employer and Individual (E&I) Segment - Provides individual, family, and small business health insurance plans, both qualified and non-qualified. Includes ancillary products such as dental, vision, and short-term insurance, along with online sponsorship and advertising programs, technology licensing, and lead referral activities.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Francis S. Soistman ExecutiveBoard | Chief Executive Officer | Francis S. Soistman is the Chief Executive Officer of eHealth, Inc. since November 2021 and serves on the Board of Directors from the same date. He brings nearly four decades of experience in healthcare leadership, having held roles such as Founder and President of Healthcare Management and Transformation Advisory Services LLC and Executive Vice President at CVS Health/Aetna. | View Report → | |
Gavin G. Galimi Executive | Senior Vice President, General Counsel, and Corporate Secretary | Co-Founder at Stratagem Investments | Gavin G. Galimi serves as the Senior Vice President, General Counsel, and Corporate Secretary at EHTH since June 27, 2022. He has extensive experience in legal and corporate governance roles, including previous positions at UnitedHealth Group and active involvement as Co-Founder at Stratagem Investments. | |
John J. Stelben Executive | Senior Vice President and Chief Financial Officer (CFO) | John J. Stelben has served as CFO of eHealth, Inc. since November 14, 2022. He brings over 25 years of financial leadership experience from previous roles at Aetna and Coventry Health Care, Inc.. | ||
Michelle M. Barbeau Executive | Chief Revenue Officer | Michelle M. Barbeau has been the Chief Revenue Officer at EHTH since January 1, 2024, after serving as Chief Marketing Officer from September 2022 to December 2023. |
- Given the observed commission suppression by carriers during this AEP and its impact on enrollment profitability, how does management plan to offset this risk in future cycles while maintaining attractive margins?
- With a forecast for a Q1 adjusted EBITDA loss despite record enrollment growth in 2024, how do you justify the upfront cash investment strategy relative to the long-term profitability of the Medicare business?
- Considering that the Amplify platform currently contributes less than 10% of total revenue, what specific initiatives are being implemented to improve its margins, and what is the expected timeline for these improvements?
- In light of the regulatory changes affecting D-SNPs and the anticipated shift in marketing spend between Q2/Q3 and Q4, how will management adjust its enrollment strategy to maintain strong conversion rates?
- With ongoing uncertainty in the regulatory environment and potential adjustments in Medicare Advantage rates under the new administration, what steps will management take to ensure sustained growth and mitigate the risks of a volatile market?
Research analysts who have asked questions during eHealth earnings calls.
George Sutton
Craig-Hallum
5 questions for EHTH
Jonathan Yong
UBS
3 questions for EHTH
Benjamin Hendrix
RBC Capital Markets
2 questions for EHTH
George Hill
Deutsche Bank
2 questions for EHTH
Chun-Wai Yong
UBS
1 question for EHTH
Liz Lee
Deutsche Bank
1 question for EHTH
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Humana | Health insurance carrier paying commissions for plan sales | Medicare | 24% of total revenue in 2024; 27% in 2023 |
UnitedHealthcare | Health insurance carrier paying commissions for plan sales | Medicare | 22% of total revenue in 2024; 23% in 2023 |
Aetna | Health insurance carrier paying commissions for plan sales | Medicare | 18% of total revenue in 2024; 15% in 2023 |
Recent press releases and 8-K filings for EHTH.
- EHTH reported Q3 2025 total revenue of $53.9 million, an 8% decrease year-over-year, primarily reflecting lower Medicare Advantage approved members due to recent dual-eligible enrollment rules.
- The company's Q3 2025 GAAP net loss improved to $31.7 million compared to $42.5 million a year ago, and adjusted EBITDA was $(34.0) million compared to $(34.8) million in Q3 2024.
- As of September 30, 2025, eHealth held $75.3 million in cash, cash equivalents, and marketable securities, and a commissions receivable balance of $907.7 million.
- For FY 2025 guidance, the company updated its outlook for GAAP Net Income to $9 million - $30 million (from $5 million - $26 million) and Adjusted EBITDA to $60 million - $80 million (from $55 million - $75 million), with total revenue and operating cash flow guidance remaining unchanged.
- eHealth Inc. reported Q3 2025 total revenue of $53.9 million, an 8% year-over-year decrease, while improving its GAAP net loss to $31.7 million and adjusted EBITDA loss to $34 million.
- The company raised its 2025 full-year guidance for GAAP net income to $9 million to $30 million and Adjusted EBITDA to $60 million to $80 million, primarily driven by higher-than-expected positive net adjustment (TEL) revenue, which is now projected between $40 million and $43 million.
- Medicare Advantage enrollment volume in Q3 2025 was below expectations due to regulatory changes, but AEP performance is tracking in line with internal expectations with strong consumer demand and increased commission rates.
- eHealth extended its term loan maturity to January 2027, maintaining $75.3 million in cash and $907.7 million in commission receivables as of September 30, 2025.
- eHealth, Inc. reported Q3 2025 total revenue of $53.9 million, an 8% decrease compared to Q3 2024, and a GAAP net loss of $(31.7) million, an improvement from $(42.5) million in Q3 2024.
- The company raised its full-year 2025 GAAP net income guidance to a range of $9.0 million to $30.0 million (previously $5.0 million to $26.0 million) and adjusted EBITDA guidance to $60.0 million to $80.0 million (previously $55.0 million to $75.0 million).
- Operational highlights include a 6% decrease in total operating costs and expenses to $95.4 million in Q3 2025, a 25% reduction in variable marketing spend, and the successful extension of its term loan maturity to January 2027.
- The UK Neurovascular Devices Market was valued at $269.58 Million in 2024 and is projected to grow to $383.72 Million by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 6.02%.
- This market growth is primarily driven by the rising incidence of stroke and neurovascular disorders in the UK, with over 100,000 new stroke cases recorded annually.
- A significant market trend is the expansion of mechanical thrombectomy services across the NHS, which is expected to substantially increase demand for related devices.
- However, the market faces a critical challenge due to the limited availability of trained neurointervention specialists, which could restrict operational capacity and device uptake.
- Key market players include Stryker, Medtronic Plc, and Cerenovus (Johnson & Johnson MedTech company).
- Bitdefender, a European cybersecurity leader, and secunet, Germany's leading cybersecurity company, have formed a strategic partnership to provide sovereign cybersecurity solutions for European businesses.
- The partnership offers Bitdefender's GravityZone platform hosted on SysEleven's (a secunet company) OpenStack Cloud in Germany, ensuring all customer and security-related data is processed exclusively within the EU.
- This initiative aims to help European companies, especially those in regulated sectors, meet strict data sovereignty criteria and comply with regulations such as NIS2, DORA, and DSGVO.
- secunet, Germany's leading cybersecurity company, reported a revenue of approximately 406 million Euro in 2024 and is listed on the SDAX.
- Derek Haas recently became CEO of eHealth, bringing 36 years of experience in the life and health space, including leadership roles at Magellan Health and HealthMarkets.
- eHealth reported significant financial progress over the past three years, including $111 million in cumulative EBITDA improvement and $99 million in operating GAAP net income improvement.
- For 2024, the company's guidance reflects approximately 3% revenue growth at the midpoint and flattish profitability year over year. It aims for 2026 targets of 8% to 10% revenue compound annual growth rate and 8% to 10% EBITDA margin.
- Strategic growth drivers include scaling Medicare Advantage, diversifying product offerings (Medicare Supplement, ancillary products, and Individual Coverage Health Reimbursement Arrangements (ICRA)), and leveraging technology and brand adoption.
- The company finished Q3 with over $100 million in cash on its balance sheet and successfully extended its $70 million term loan maturity to Q1 2027.
- eHealth, Inc. extended the maturity date of its term loan with Blue Torch Finance LLC to January 29, 2027, from the previous date of February 27, 2026.
- This amendment, effective October 6, 2025, maintains all other key terms of the credit agreement, including the applicable interest rate, as unchanged.
- CEO Derrick Duke stated that this extension provides additional financial flexibility for the company to strengthen its capital structure and execute strategic initiatives.
- eHealth, Inc. (Nasdaq: EHTH) announced an amendment to its term loan credit agreement with Blue Torch Finance LLC, extending the maturity date to January 29, 2027.
- This extension provides eHealth with additional financial flexibility, with all other key terms of the credit agreement, including the applicable interest rate, remaining unchanged.
- The extension addresses one of eHealth's primary capital strategy objectives, which also include leveraging its commissions receivable asset for capital access and addressing its convertible Series A preferred stock instrument.
- eHealth, Inc. announced that CEO Fran Soistman has agreed to continue serving as chief executive officer through the earlier of the appointment of his successor or September 30, 2025, and will then assume the role of executive advisor until December 31, 2025.
- In consideration for his extended service, Mr. Soistman will receive a $1.0 million cash retention award and an annual performance-based bonus for 2025, both payable in January 2026.
- At the Annual Meeting on June 18, 2025, stockholders approved an amendment and restatement of the 2024 Equity Incentive Plan to increase the maximum number of shares that may be issued by 1,500,000 shares.
- Robust Financial Performance: Q1 revenue reached $113.1 million with a 22% YoY growth, turning GAAP net income positive at $2.0 million (vs. a loss of $17.0 million in Q1 2024) and adjusted EBITDA improved to $12.5 million, reversing last year’s losses .
- Medicare Segment Strength: Total Medicare submissions increased 22% (with the agency model up 26%) and Medicare Advantage submissions rose 25%, accompanied by a 10% decline in acquisition costs; additionally, tail revenue guidance was raised to $11–$20 million with cumulative tail revenue of $234 million .
- Guidance Update: The company reiterated full year 2025 revenue guidance of $510.0 million to $550.0 million and updated key metrics including positive net adjustment revenue .
- Healthy Liquidity & Strategic Initiatives: eHealth ended the quarter with $155.6 million in cash, cash equivalents, and short-term marketable securities while advancing initiatives like AI integration and the Amplify program to enhance enrollment operations .