Ehealth Stock Earnings Reports

eHealth delivered a Q1 2026 beat with $88M revenue, GAAP net loss of $4.7M and adjusted EBITDA of $9M. Performance was driven by stronger-than-expected Medicare enrollment economics and progress on diversification (ancillary and post-enrollment services). Management is running 2026 as an intentional ‘‘bridge year’’ prioritizing cash flow and margin over volume: they implemented ~20% (≈$30M) of fixed cost reductions for 2026 vs. 2025, reduced variable marketing spend to higher‑quality channels, and prepared/rolled out a ‘‘lifetime advisory’’ operating model plus new final‑expense insurance products to drive retention and cross‑sell. Key financials and trends: Medicare segment revenue was $81.3M (down ~22% YOY due to lower volume), Medicare LTVs up (MA +3%, Med Supp +19%, PDP +78%), MA LTV-to-CAC improved to 1.4x (17% improvement), total acquisition cost per MA approved member down 10%, quarter operating cash flow was $35.8M and cash balance was $110.8M. Management maintained 2026 guidance ranges and updated 3‑year targets: return to revenue growth in 2027 (mid-single digits), mid‑teens revenue growth in 2028, adjusted EBITDA margins expanding to ~20% by 2028, and breakeven or better free cash flow in 2027. Risks/notes: ongoing Medicare Advantage market reset and carrier bid dynamics could keep enrollment complexity elevated; tail (net adjustment) revenue guidance narrowed to $8M–$20M for 2026 and management assumes flat tail in the longer‑range plan.