2019 Q3 Form 10-Q Financial Statement

#000162828019010326 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2
Revenue $69.91M $65.77M $32.66M
YoY Change 71.56% 101.39% -5.52%
Cost Of Revenue $410.0K $449.0K $151.0K
YoY Change 141.18% 197.35% 169.64%
Gross Profit $69.50M $65.32M $32.51M
YoY Change 71.27% 100.94% -5.81%
Gross Profit Margin 99.41% 99.32% 99.54%
Selling, General & Admin $94.60M $69.90M $46.40M
YoY Change 82.98% 50.65% 3.8%
% of Gross Profit 136.11% 107.01% 142.74%
Research & Development $12.03M $10.44M $7.287M
YoY Change 55.47% 43.23% -8.13%
% of Gross Profit 17.31% 15.98% 22.42%
Depreciation & Amortization $765.0K $733.0K $631.0K
YoY Change 23.39% 16.16% -15.98%
% of Gross Profit 1.1% 1.12% 1.94%
Operating Expenses $12.03M $10.44M $7.287M
YoY Change 55.47% 43.23% -8.13%
Operating Profit -$20.24M -$12.31M -$16.92M
YoY Change 30.98% -27.24% 61.64%
Interest Expense $5.400M -$7.200M -$2.500M
YoY Change -242.11% 188.0%
% of Operating Profit
Other Income/Expense, Net $568.0K $699.0K $296.0K
YoY Change 91.89% 136.15% -0.67%
Pretax Income -$19.67M -$11.61M -$16.62M
YoY Change 29.79% -30.15% 63.46%
Income Tax -$8.600M -$5.900M -$4.610M
% Of Pretax Income
Net Earnings -$11.02M -$5.754M -$12.01M
YoY Change 22.87% -52.11% 697.74%
Net Earnings / Revenue -15.77% -8.75% -36.79%
Basic Earnings Per Share -$0.47 -$0.25 -$0.63
Diluted Earnings Per Share -$0.47 -$0.25 -$0.63
COMMON SHARES
Basic Shares Outstanding 22.81M shares 23.09M shares 19.06M shares
Diluted Shares Outstanding 23.09M shares 19.06M shares

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.10M $115.9M $30.80M
YoY Change 333.99% 276.3% -53.4%
Cash & Equivalents $88.07M $115.9M $30.77M
Short-Term Investments
Other Short-Term Assets $17.00M $11.10M $5.400M
YoY Change 32.81% 105.56% 14.89%
Inventory
Prepaid Expenses
Receivables $682.0K $1.059M $89.10M
Other Receivables $1.100M $1.100M $0.00
Total Short-Term Assets $234.3M $246.7M $125.3M
YoY Change 71.74% 96.87% 40.18%
LONG-TERM ASSETS
Property, Plant & Equipment $10.40M $9.708M $4.640M
YoY Change 48.35% 109.22% -11.11%
Goodwill $40.23M $40.23M $40.23M
YoY Change 0.0% 0.0% 185.42%
Intangibles $10.61M $11.16M $13.34M
YoY Change -17.09% -16.38% 65.53%
Long-Term Investments
YoY Change
Other Assets $15.42M $14.12M $9.035M
YoY Change 40.28% 56.24% 85.79%
Total Long-Term Assets $346.9M $336.8M $246.4M
YoY Change 47.27% 36.69% 664.29%
TOTAL ASSETS
Total Short-Term Assets $234.3M $246.7M $125.3M
Total Long-Term Assets $346.9M $336.8M $246.4M
Total Assets $581.2M $583.5M $371.7M
YoY Change 56.24% 56.98% 205.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.06M $5.523M $2.154M
YoY Change 267.94% 156.41% -8.11%
Accrued Expenses $26.50M $22.80M $14.80M
YoY Change 59.64% 54.05% 0.68%
Deferred Revenue $9.083M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $83.66M $64.46M $36.22M
YoY Change 79.94% 77.97% 64.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.095M $2.022M $2.197M
YoY Change -9.54% -7.97% 56.93%
Total Long-Term Liabilities $2.095M $2.022M $2.197M
YoY Change -9.54% -7.97% 53.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $83.66M $64.46M $36.22M
Total Long-Term Liabilities $2.095M $2.022M $2.197M
Total Liabilities $85.75M $66.48M $38.41M
YoY Change 75.69% 73.05% 63.46%
SHAREHOLDERS EQUITY
Retained Earnings $183.0M $194.1M $187.9M
YoY Change 2.31% 3.29% 804.2%
Common Stock $35.00K $34.00K $30.00K
YoY Change 12.9% 13.33% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $200.0M $200.0M $200.0M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 11.57M shares 11.48M shares 11.32M shares
Shareholders Equity $431.6M $443.3M $280.3M
YoY Change
Total Liabilities & Shareholders Equity $581.2M $583.5M $371.7M
YoY Change 56.24% 56.98% 205.6%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$11.02M -$5.754M -$12.01M
YoY Change 22.87% -52.11% 697.74%
Depreciation, Depletion And Amortization $765.0K $733.0K $631.0K
YoY Change 23.39% 16.16% -15.98%
Cash From Operating Activities -$15.94M -$11.52M -$300.0K
YoY Change 222.02% 3740.0% -69.07%
INVESTING ACTIVITIES
Capital Expenditures -$4.750M -$4.220M -$2.680M
YoY Change 20.87% 57.46% 141.44%
Acquisitions
YoY Change
Other Investing Activities $830.0K -$900.0K $0.00
YoY Change
Cash From Investing Activities -$3.920M -$5.120M -$2.670M
YoY Change -0.25% 91.76% 140.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.170M -1.310M -930.0K
YoY Change 314.09% 40.86% 1062.5%
NET CHANGE
Cash From Operating Activities -15.94M -11.52M -300.0K
Cash From Investing Activities -3.920M -5.120M -2.670M
Cash From Financing Activities -6.170M -1.310M -930.0K
Net Change In Cash -26.03M -17.95M -3.900M
YoY Change 151.01% 360.26% 80.56%
FREE CASH FLOW
Cash From Operating Activities -$15.94M -$11.52M -$300.0K
Capital Expenditures -$4.750M -$4.220M -$2.680M
Free Cash Flow -$11.19M -$7.300M $2.380M
YoY Change 997.06% -406.72% 1600.0%

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<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;">, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">www.eHealthInsurance.com</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">www.eHealthMedicare.com, www.Medicare.com, www.PlanPrescriber.com </font><font style="font-family:inherit;font-size:10pt;">and </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">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>
us-gaap Use Of Estimates
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<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 commissions we expect to collect for each approved member cohort, the useful lives of intangible assets, fair value of investments, recoverability of intangible assets, valuation allowance for deferred income taxes, provision (benefit) 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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