Earnings Call Summary | NeueHealth(NEUE.US) Q1 2024 Earnings Conference

Futu News ·  May 11 03:57  · Conference Call

The following is a summary of the NeueHealth, Inc. (NEUE) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • NeueHealth reported a consolidated Q1 revenue of $245.1 million, slightly below expectations due to lower NeueCare volume and ACO business development.

  • The company delivered a gross margin of $48.2 million and a quarterly adjusted EBITDA of $2.5 million.

  • NeueCare segment revenue was $73.6 million with an operating income of $9.8 million.

  • The NeueSolution segment posted revenue of $173.9 million and an operating loss of $2.9 million.

Business Progress:

  • The NeueCare segment has expanded in Central Florida, adding 41,000 more consumers with plans for further expansions in 2024 and beyond.

  • NeueHealth served a total of 469,000 consumers across the NeueCare and NeueSolution segments in Q1 2024.

  • Growth in partnerships within the NeueSolution segment marks it as a key driver for the future.

  • The company serves approximately 40% of the 745,000 ACA marketplace consumers in the Miami-Dade market, receiving high customer satisfaction scores.

  • The company aims to serve between 475,000 and 500,000 consumers across both segments by the end of 2024, focusing on a value-driven, consumer-centric care model.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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