eHealth, Inc. (NASDAQ:EHTH) Q1 2024 Earnings Call Transcript May 7, 2024

eHealth, Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good morning, everyone, and welcome to eHealth, Inc. Conference Call to discuss the company's First Quarter 2024 Financial Results. At this time, all participants have been placed in listen only mode. The floor will open for your questions following the prepared remarks. I will turn the floor over to Eli Newbrun-Mintz, Senior Investor Relations Manager. Please go ahead.

Eli Newbrun-Mintz: Good morning, and thank you all for joining us today. On the call today, Fran Soistman, eHealth’s Chief Executive Officer; and John Stelben, Chief Financial Officer, will discuss our first quarter 2024 financial results. Following these prepared remarks, we will open up the line for a Q&A session with industry analysts. As a reminder, this call is being recorded and webcast from the Investor Relations section of our website. A replay of the call will be available on our website later today. Today’s press release, our historical financial news releases and our filings with the SEC are also available on our Investor Relations site. We will be making forward-looking statements on this call about certain matters that are based upon management’s current beliefs and expectations relating to future events impacting the company and our future financial or operating performance.

Forward-looking statements on this call represent eHealth’s views as of today, and actual results could differ materially. We undertake no obligation to publicly address or update any forward-looking statements except as required by law. The forward-looking statements we will be making during this call are subject to a number of uncertainties and risks, including but not limited to those described in today's press release and in our most recent annual report on Form 10-K and our subsequent filings with the SEC. We will also be discussing certain non-GAAP financial measures on this call. Management's definitions of these non-GAAP measures and reconciliations to the most directly comparable GAAP financial measures are included in today's press release.

With that, I’ll turn the call over to Fran Soistman.

Fran Soistman: Thank you, Eli, and good morning, everyone. Today we plan to review key operational and financial highlights of the quarter and address important recent developments in our industry and how they may impact our company's strategic positioning and outlook for the year. eHealth delivered another quarter of strong execution in our Medicare business. In Q1, eHealth maintained the momentum we gained during the annual enrollment period, generating double-digit growth in approved Medicare members. This is driven primarily by our enhanced marketing strategies and strong execution in both our fulfillment models, Agency, our choice model, and Amplify, our carrier dedicated model. Importantly, our Q1 Medicare Advantage enrollment growth of 9% year-over-year was accompanied by another year-over-year increase in lifetime values.

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