2019 Q1 Form 10-Q Financial Statement

#000162828019005953 Filed on May 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $68.77M $43.07M
YoY Change 59.68% 3.64%
Cost Of Revenue -$77.00K $152.0K
YoY Change -150.66% -16.02%
Gross Profit $68.85M $42.92M
YoY Change 60.42% 3.73%
Gross Profit Margin 100.11% 99.65%
Selling, General & Admin $64.20M $47.30M
YoY Change 35.73% 4.65%
% of Gross Profit 93.25% 110.21%
Research & Development $9.017M $8.341M
YoY Change 8.1% 3.33%
% of Gross Profit 13.1% 19.43%
Depreciation & Amortization $655.0K $619.0K
YoY Change 5.82% -18.77%
% of Gross Profit 0.95% 1.44%
Operating Expenses $9.017M $8.341M
YoY Change 8.1% 3.33%
Operating Profit -$9.183M -$6.720M
YoY Change 36.65% 63.38%
Interest Expense -$13.30M
YoY Change
% of Operating Profit
Other Income/Expense, Net $557.0K $184.0K
YoY Change 202.72% -33.57%
Pretax Income -$8.626M -$6.536M
YoY Change 31.98% 70.39%
Income Tax -$3.500M -$1.700M
% Of Pretax Income
Net Earnings -$5.159M -$4.845M
YoY Change 6.48% -548.61%
Net Earnings / Revenue -7.5% -11.25%
Basic Earnings Per Share -$0.24 -$0.26
Diluted Earnings Per Share -$0.24 -$0.26
COMMON SHARES
Basic Shares Outstanding 21.83M shares 18.87M shares
Diluted Shares Outstanding 21.83M shares 18.87M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $135.5M $34.70M
YoY Change 290.49% -49.12%
Cash & Equivalents $135.5M $34.74M
Short-Term Investments
Other Short-Term Assets $5.400M $6.000M
YoY Change -10.0% 33.33%
Inventory
Prepaid Expenses
Receivables $3.381M $99.40M
Other Receivables $1.100M $0.00
Total Short-Term Assets $259.2M $140.2M
YoY Change 84.88% 39.37%
LONG-TERM ASSETS
Property, Plant & Equipment $7.963M $4.616M
YoY Change 72.51% -19.06%
Goodwill $40.23M $40.23M
YoY Change 0.0% 185.42%
Intangibles $11.70M $13.89M
YoY Change -15.75% 66.94%
Long-Term Investments
YoY Change
Other Assets $12.06M $7.900M
YoY Change 52.65% 78.89%
Total Long-Term Assets $312.1M $240.4M
YoY Change 29.84% 638.75%
TOTAL ASSETS
Total Short-Term Assets $259.2M $140.2M
Total Long-Term Assets $312.1M $240.4M
Total Assets $571.2M $380.5M
YoY Change 50.11% 185.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.360M $2.789M
YoY Change 56.33% 64.16%
Accrued Expenses $18.70M $12.60M
YoY Change 48.41% 13.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $55.06M $31.73M
YoY Change 73.53% 68.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.022M $2.235M
YoY Change -9.53% 59.64%
Total Long-Term Liabilities $2.022M $2.235M
YoY Change -9.53% 56.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.06M $31.73M
Total Long-Term Liabilities $2.022M $2.235M
Total Liabilities $57.08M $33.96M
YoY Change 68.07% 67.66%
SHAREHOLDERS EQUITY
Retained Earnings $199.8M $199.9M
YoY Change -0.04% 425.49%
Common Stock $34.00K $30.00K
YoY Change 13.33% 3.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $200.0M $200.0M
YoY Change 0.0% 0.0%
Treasury Stock Shares 11.45M shares 11.25M shares
Shareholders Equity $445.7M $290.1M
YoY Change
Total Liabilities & Shareholders Equity $571.2M $380.5M
YoY Change 50.11% 185.87%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$5.159M -$4.845M
YoY Change 6.48% -548.61%
Depreciation, Depletion And Amortization $655.0K $619.0K
YoY Change 5.82% -18.77%
Cash From Operating Activities $12.75M $10.74M
YoY Change 18.74% 27.4%
INVESTING ACTIVITIES
Capital Expenditures $1.509M $217.0K
YoY Change 595.39% -74.83%
Acquisitions $0.00 $14.93M
YoY Change -100.0%
Other Investing Activities $0.00 -$14.93M
YoY Change -100.0%
Cash From Investing Activities -$2.996M -$16.14M
YoY Change -81.43% 869.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $126.1M $0.00
YoY Change
Debt Paid & Issued, Net $5.000M $0.00
YoY Change
Cash From Financing Activities $112.6M -$203.0K
YoY Change -55553.69% -38.86%
NET CHANGE
Cash From Operating Activities $12.75M $10.74M
Cash From Investing Activities -$2.996M -$16.14M
Cash From Financing Activities $112.6M -$203.0K
Net Change In Cash $122.4M -$5.551M
YoY Change -2304.76% -186.3%
FREE CASH FLOW
Cash From Operating Activities $12.75M $10.74M
Capital Expenditures $1.509M $217.0K
Free Cash Flow $11.24M $10.52M
YoY Change 6.84% 39.04%

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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4189000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4068000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5502000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3641000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7557000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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439278000 USD
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
571237000 USD
CY2018Q4 us-gaap Liabilities Current
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60619000 USD
CY2019Q1 us-gaap Liabilities Current
LiabilitiesCurrent
55057000 USD
CY2018Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
40000000 USD
CY2019Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
26500000 USD
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
5000000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
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-203000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
112571000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16135000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2996000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10737000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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12749000 USD
CY2018Q1 us-gaap Net Income Loss
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-4845000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-5159000 USD
CY2018Q4 us-gaap Noncurrent Assets
NoncurrentAssets
15992000 USD
CY2019Q1 us-gaap Noncurrent Assets
NoncurrentAssets
17039000 USD
CY2019Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2019Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
50 state
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6720000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9183000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1300000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
27580000 USD
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3430000 USD
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24150000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
900000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25730000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y6M
CY2018Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
1402000 USD
CY2019Q1 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
1450000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
11276000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12059000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
65000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
29000 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2425000 USD
CY2019Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
5528000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
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3339000 USD
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2022000 USD
CY2018Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2019Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1194000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
184000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
557000 USD
CY2018Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
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0 USD
CY2019Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
9542000 USD
CY2018Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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14929000 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
217000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1509000 USD
CY2018Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
989000 USD
CY2019Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1487000 USD
CY2018Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
62000 USD
CY2019Q1 us-gaap Prepaid Advertising
PrepaidAdvertising
610000 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5288000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6483000 USD
CY2018Q4 us-gaap Prepaid Insurance
PrepaidInsurance
161000 USD
CY2019Q1 us-gaap Prepaid Insurance
PrepaidInsurance
213000 USD
CY2018Q4 us-gaap Prepaid Rent
PrepaidRent
324000 USD
CY2019Q1 us-gaap Prepaid Rent
PrepaidRent
324000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
126051000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
109000 USD
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2367000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7684000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7963000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000 USD
CY2018Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
110 employee
CY2018Q1 us-gaap Restructuring Charges
RestructuringCharges
1856000 USD
CY2018 us-gaap Restructuring Charges
RestructuringCharges
1900000 USD
CY2019Q1 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2019Q1 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
204965000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
199806000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43070000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68773000 USD
CY2019Q1 us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
Payment is typically received within 60 days of approval.
CY2019Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
2760000 shares
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2801000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3229000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
300000 USD
CY2018Q1 us-gaap Share Price
SharePrice
18.99
CY2018Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
5595000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
17261000 USD
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
126054000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
109000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2367000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
286664000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
290103000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
303149000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
445650000 USD
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
11426292 shares
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
11449503 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
10663888 shares
CY2019Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
199998000 USD
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
199998000 USD
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18873000 shares
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21831000 shares
CY2019Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Description of Business&#8212;</font><font style="font-family:inherit;font-size:10pt;">eHealth, Inc. (the &#8220;Company,&#8221; &#8220;eHealth,&#8221; &#8220;we&#8221; or &#8220;us&#8221;) is a leading private health insurance exchange for individuals, families and small businesses in the United States. Through our website addresses (</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">www.eHealth.com</font><font style="font-family:inherit;font-size:10pt;">, &#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">www.eHealthInsurance.com</font><font style="font-family:inherit;font-size:10pt;">, &#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">www.eHealthMedicare.com, www.Medicare.com, www.PlanPrescriber.com and www.GoMedigap.com)</font><font style="font-family:inherit;font-size:10pt;">, consumers can get quotes from leading health insurance carriers, compare plans side-by-side, and apply for and purchase Medicare-related, individual and family, small business and ancillary health insurance plans. We actively market the availability of Medicare-related insurance plans and offer Medicare plan comparison tools and educational materials for Medicare-related insurance plans, including Medicare Advantage, Medicare Supplement and Medicare Part D prescription drug plans. Our ecommerce technology also enables us to deliver consumers&#8217; health insurance applications electronically to health insurance carriers. We are licensed to market and sell health insurance in all&#160;</font><font style="font-family:inherit;font-size:10pt;">50</font><font style="font-family:inherit;font-size:10pt;">&#160;states and the District of Columbia.&#160;</font></div></div>
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates&#8212;</font><font style="font-family:inherit;font-size:10pt;">The preparation of condensed consolidated financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. On an ongoing basis, we evaluate our estimates, including those related to, but not limited to, the useful lives of intangible assets, fair value of investments, recoverability of intangible assets, the commissions we expect to collect for each approved member cohort, valuation allowance for deferred income taxes, provision for income taxes and the assumptions used in determining stock-based compensation. We base our estimates of the carrying value of certain assets and liabilities on historical experience and on various other assumptions that we believe to be reasonable. Actual results may differ from these estimates.</font></div></div>

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