EHEALTH, INC. (NASDAQ:EHTH) Files An 8-K Results of Operations and Financial Condition

0

EHEALTH, INC. (NASDAQ:EHTH) Files An 8-K Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition.

On February 24, 2017, eHealth, Inc. (the Company) issued an
earnings release announcing its financial results for the quarter
and year ended December 31, 2016 (the Original Press Release).
Information regarding the expected GAAP net loss per share was
mischaracterized in the Original Press Release as expected
non-GAAP net loss per share. On February 27, 2017, the Company
issued a corrected earnings release including such information,
as corrected (the Corrected Press Release). This misstatement did
not impact any of the Companys other earnings release disclosures
nor was there any impact to the Companys GAAP financial
statements.
A copy of the Corrected Press Release, which indicates the
expected GAAP net loss per share and corrected expected non-GAAP
net loss per share on page 1, is furnished as Exhibit 99.1 to
this Amendment No. 1 on Form 8-K/A and is incorporated herein by
reference. For convenience the expected GAAP net loss per share
and corrected expected non-GAAP net loss per share are also
excerpted below (with original reported expected non-GAAP net
loss per share struck and expected GAAP net loss per share and
corrected expected non-GAAP net loss per share in bold type).
Non-GAAP net loss per share>(d)>is
expected to be in the range of $(1.49) to $(1.59) per
share.>
GAAP net loss per share is expected to be in the range of
($1.49) to $(1.59) per share.
Non-GAAP net loss per share (d)>is expected
to be in the range of $(1.06) to $(1.17) per share.
(d) Non-GAAP net loss per share is calculated by excluding
stock-based compensation expense, intangible asset amortization
expense, restructuring (charge) benefit and the estimated tax
benefit relating to these expenses to GAAP net income (loss).
The information in Item 2.02 of this Current Report on Form 8-K/A
and the exhibits attached hereto are intended to be furnished and
shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended. Except as shall be
expressly set forth by specific reference in such filing, the
information contained herein and in the accompanying exhibits
shall not be incorporated by reference into any filing with the
Securities and Exchange Commission made by the Company, whether
made before or after the date hereof, regardless of any general
incorporation language in such filing.
This Current Report on 8-K/A and the Corrected Press Release
attached as Exhibit 99.1 contain statements that are
forward-looking statements as defined within the Private
Securities Litigation Reform Act of 1995. In addition to the
statements identified in the Corrected Press Release, these
include statements regarding future events and our guidance for
the full year ending December 31, 2017, including our guidance
for GAAP net loss per share and Non-GAAP net loss per share.
These forward-looking statements are inherently subject to
various risks and uncertainties that could cause actual results
to differ materially from the statements made, including risks
associated with the impact of healthcare reform; our ability to
retain existing members and enroll a large number of new members
during the annual healthcare reform open enrollment period and
Medicare annual enrollment period; the impact of annual
enrollment period for the purchase of individual and family
health insurance and its timing on our recognition of revenue;
our ability to sell qualified health insurance plans to
subsidy-eligible individuals and to enroll subsidy eligible
individuals through government-run health insurance exchanges;
decreased conversion rates for health insurance exchange
enrollments as a result of the federal exchange changes to
enrollment; competition, including competition from
government-run health insurance exchanges; seasonality of our
business and the fluctuation of our operating results; our
ability to retain existing members and limit member turnover;
changes in consumer behaviors and their selection of individual
and family health insurance products, including the selection of
products for which we receive lower commissions; a reduction of
product offerings among carriers and the resulting impact on our
commission revenue; carriers exiting the market of selling
individual and family health insurance and the resulting impact
on
our supply and commission revenue; our ability to execute on our
growth strategy in the Medicare and small business health
insurance markets; the impact of increased health insurance costs
on demand; our ability to timely receive and accurately predict
the amount of commission payments from health insurance carriers;
timing of commission payments from health insurance carriers;
medical loss ratio requirements; delays in our receipt of items
required to recognize Medicare revenue; changes in member
conversion rates; our ability to accurately estimate membership;
our relationships with health insurance carriers; customer
concentration and consolidation of the health insurance industry;
our success in marketing and selling health insurance plans and
our unit cost of acquisition; our ability to hire, train and
retain licensed health insurance agents and other employees; the
need for health insurance carrier and regulatory approvals in
connection with the marketing of Medicare-related insurance
products; costs of acquiring new members; scalability of the
Medicare business; lack of membership growth and retention rates;
consumers satisfaction of our service; changes in competitive
landscape; our ability to attract and to convert online visitors
into paying members; changes in products offered on our ecommerce
platform; changes and reductions in commission rates; maintaining
and enhancing our brand identity; our ability to derive desired
benefits from investments in our business, including membership
growth initiatives; dependence on acceptance of the Internet as a
marketplace for the purchase and sale of health insurance;
reliance on marketing partners; timing of receipt and accuracy of
commission reports; payment practices of health insurance
carriers; dependence on our operations in China; changes in laws
and regulations, including in connection with healthcare reform
and/or with respect to the marketing and sale of Medicare plans;
compliance with insurance and other laws and regulations;
exposure to security risks; and the performance, reliability and
availability of our ecommerce platform and underlying network
infrastructure. Other factors that could cause operating,
financial and other results to differ are described in the
Companys most recent Quarterly Report on Form 10-Q or Annual
Report on Form 10-K filed with the Securities and Exchange
Commission and available on the investor relations page of the
Companys website at http://www.ehealthinsurance.com and on the
Securities and Exchange Commissions website at www.sec.gov. The
Company does not undertake any obligation to update any
forward-looking statement to conform the statement to actual
results or changes in expectations.
Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
99.1
Corrected Press Release of eHealth, Inc. dated February
27, 2017 (eHealth, Inc. Announces Fourth Quarter and
Fiscal 2016 Results)


About EHEALTH, INC. (NASDAQ:EHTH)

eHealth, Inc. provides a private online source of health insurance for individuals, families and small businesses. The Company is the parent company of eHealthInsurance, a private health insurance exchange where individuals, families and small businesses can compare health insurance products from various insurers side-by-side, and purchase and enroll in coverage online through its Websites (www.eHealth.com, www.eHealthInsurance.com, www.eHealthMedicare.com, www.Medicare.com and www.PlanPrescriber.com) or telephonically through its customer care centers. The Company also offers various online and pharmacy-based tools to help seniors navigate Medicare health insurance options, choose the right plan, and enroll in plans online or telephonically. It markets the availability of individual and family, small business and ancillary health insurance plans of various insurance carriers through its e-commerce platforms (www.eHealth.com and www.eHealthInsurance.com).

EHEALTH, INC. (NASDAQ:EHTH) Recent Trading Information

EHEALTH, INC. (NASDAQ:EHTH) closed its last trading session up +1.62 at 12.39 with 542,235 shares trading hands.