eHealth (NASDAQ: EHTH) reported Q4 EPS of $2.32, $0.52 worse than the analyst estimate of $2.84. Revenue for the quarter came in at $293.3 million versus the consensus estimate of $331.65 million.

"Although 2020 presented challenges, eHealth made notable progress building out our capabilities, and positioning the company to capture significant market opportunities ahead," said Scott Flanders, Chief Executive Officer of eHealth. "As part of our strategy to drive growth, increase quality of enrollments and achieve higher lifetime values, we made investments in our e-commerce platform and implemented a multifaceted program to improve member retention."

"We believe that issues that impacted our fourth quarter performance were isolated and can be corrected in the near term. We took decisive and critical actions to fix these issues and cement a strong foundation for our long-term performance. Our actions are already demonstrating results in the first quarter in the form of increased agent productivity, customer engagement and enrollment growth. Looking ahead, we are confident that we have taken steps necessary to put us on track to meaningfully improve performance in 2021 and beyond."

Mr. Flanders concluded, "Over the last four-plus years, we have built a strong foundation with a best-in-class consumer facing e-commerce platform and executed a deliberate plan that has enabled us to achieve significant growth. As we move into eHealth's next stage, we are confident that we have the right strategy to continue driving growth, enhance profitability and deliver meaningful returns to shareholders."

GUIDANCE:

eHealth sees FY2021 EPS of $2.77-$3.26, versus the consensus of $3.92. eHealth sees FY2021 revenue of $660-700 million, versus the consensus of $760.62 million.

Based on information available as of February 18, 2021, eHealth is providing its guidance for the full year ending December 31, 2021, excluding the potential impact from the agreement with H.I.G. Capital for a $225 million investment announced on January 29, 2021. These expectations are forward-looking statements and eHealth assumes no obligation to update these statements. Actual results may be materially different and are affected by the risk factors and uncertainties identified in this press release and in eHealth's annual and quarterly filings with the Securities and Exchange Commission.

The following guidance is for the full year ending December 31, 2021:

• Total revenue is expected to be in the range of $660.0 million to $700.0 million. Revenue from the Medicare segment is expected to be in the range of $621.0 million to $659.0 million. Revenue from the Individual, Family and Small Business segment is expected to be in the range of $39.0 million to $41.0 million.
• GAAP net income is expected to be in the range of $42.0 million to $57.0 million.
• Adjusted EBITDA(a) is expected to be in the range of $100.0 million to $115.0 million.
• Medicare segment profit(b) is expected to be in the range of $138.0 million to $155.0 million, and Individual, Family and Small Business segment profit is expected to be in the range of $18.0 million to $19.0 million.
• Corporate(c) shared service expenses, excluding stock-based compensation and depreciation and amortization expense, is expected to be in the range of $56.0 million to $59.0 million.
• Cash used in operations is expected to be in the range of $85.0 million to $95.0 million, and cash used for capital expenditures is expected to be in the range of $24.0 million to $27.0 million.
• GAAP net income per diluted share is expected to be in the range of $1.53 to $2.08 per share.
• Non-GAAP net income per diluted share(a) is expected to be in the range of $2.77 to $3.26 per share.

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