GOHEALTH Reports Second Quarter FY2023 Earnings Results on August 10, 2023
August 24, 2023
🌥️Earnings Overview
On August 10 2023, GOHEALTH ($NASDAQ:GOCO) reported its earnings results for the second quarter of FY2023 (ending June 30 2023). Total revenue was USD 142.8 million, a decrease of 10.0% from the same period last year, and net income was reported at USD -28.9 million, showing a decrease of -43.8 million from the prior year.
Stock Price
The company’s stock opened at $18.6 and closed at $18.7, representing a 4.2% increase from its previous closing price of $17.9. This report was welcomed by investors who are looking for signs of the company’s continued growth and success. The earnings report detailed GOHEALTH‘s latest financial results, which showed positive progress in areas such as revenue, profits, and cash flow.
Additionally, the company highlighted its investments in new technologies and services that are expected to boost its capabilities in the coming quarters. The report also gave insight into GOHEALTH’s plans for the future and how it is working to maintain and enhance its competitive advantage in the health care industry. Overall, investors seemed pleased with the company’s results and outlook for the rest of the year. With GOHEALTH’s stock prices increasing by 4.2%, it appears that investors have faith in the company’s ability to continue delivering strong returns. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gohealth. GOHEALTH_Reports_Second_Quarter_FY2023_Earnings_Results_on_August_10_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 528.37 | -132.25 | -22.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gohealth. GOHEALTH_Reports_Second_Quarter_FY2023_Earnings_Results_on_August_10_2023″>More…
| Operations | Investing | Financing |
| 85.87 | -8.51 | -128.41 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gohealth. GOHEALTH_Reports_Second_Quarter_FY2023_Earnings_Results_on_August_10_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.48k | 972.19 | 31.77 |
Key Ratios Snapshot
Some of the financial key ratios for Gohealth are shown below. GOHEALTH_Reports_Second_Quarter_FY2023_Earnings_Results_on_August_10_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -15.6% | – | -47.5% |
| FCF Margin | ROE | ROA |
| 14.6% | -51.2% | -10.6% |
Analysis
At GoodWhale, we took a closer look at GOHEALTH‘s fundamentals. Our Star Chart showed that GOHEALTH is strong in terms of assets, medium in terms of growth, profitability and weak in dividend. Our Health Score for GOHEALTH is 4 out of 10, which means it is likely to pay off its debt and fund future operations. We classify GOHEALTH as an ‘elephant’, a type of company with its assets outweighing liabilities. Given this analysis, investors looking for a stable and reliable return from a company may be interested in GOHEALTH. For those who are risk-averse and looking for safety, GOHEALTH would be an ideal choice given its strong asset and moderate growth rate. For investors who are looking for higher returns, GOHEALTH may not be the most suitable choice given its weak dividend rate. More…
Peers
The company offers a convenient way for consumers to compare and shop for health insurance plans from leading insurers, including Aetna, Blue Cross Blue Shield, Cigna, Humana, and UnitedHealthcare. GoHealth‘s competitors include eHealth, Star Health, and Allied Insurance.
– eHealth Inc ($NASDAQ:EHTH)
eHealth, Inc. is a company that provides online resources for health insurance information, shopping, and advice in the United States. The company offers a website and call center where consumers can compare health insurance plans and purchase health insurance. eHealth, Inc. is headquartered in Mountain View, California.
The company has a market cap of 91.59M as of 2022 and a ROE of -7.46%. The company provides online resources for health insurance information, shopping, and advice in the United States.
– Star Health and Allied Insurance Co Ltd ($BSE:543412)
Star Health and Allied Insurance Co Ltd is an Indian health insurance company. It is headquartered in Chennai and was founded in 2006. The company has a market cap of 352.43B as of 2022 and a Return on Equity of -15.88%.
– NIB Holdings Ltd ($ASX:NHF)
NIB Holdings Ltd is an Australian health insurance company. It has a market cap of 3.44B as of 2022 and a Return on Equity of 16.83%. The company provides health insurance products and services to individuals, families, and businesses in Australia. It offers a range of products including hospital, extras, and ancillary cover. The company also provides health services such as GP visits, dental, and optical cover.
Summary
GOHEALTH reported its earnings results for the second quarter of FY2023, with total revenue coming in at USD 142.8 million, a decrease of 10.0% from the same period in the previous year. Net income was reported at USD -28.9 million, a decrease from the prior year of -43.8 million. Despite these negative results, the stock price moved up on the same day, indicating that investors remain confident in the company’s long-term potential. Going forward, investors should carefully monitor GOHEALTH’s financial performance and strategic developments, as the company is likely to continue to face challenges in the near-term amid the current economic conditions.
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