GoHealth Inc. (GOCO) stock prices were down 4.65% as of the market closing on August 11th 2021, bringing the price per share down to USD$8.20 at the end of the trading day. Subsequent pre-market fluctuations saw the stock fall by 8.05%, bringing it down to USD$7.54.
Net Revenue Reports
The second quarter of 2021 saw GOCO stock report USD$196.9 million in net revenue, representing a 55% increase from the prior year quarter. Net revenue generated since the start of fiscal 2021 came out to USD$401.1 million, a 50% increase from the prior year period. GOCO reported an 84% increase in Q2 2021 Medicare – Internal revenue, bringing it up to USD$160.4 million. Year-to-date 2021 Medicare – Internal revenue was up by 74% as compared to the prior year period, bringing it up to USD$317.8 million.
GOCO Stock’s MA Segment
Medicare Advantage Approved Submissions were up to 152,749 for the second quarter of fiscal 2021, up 58% from the prior year quarter. Year-to-date 2021 MA Approved Submissions were up to 323,876, representing a 52% increase from the prior year period. The 2021 quarter reported MA LTV Per Approved Submission in the amount of USD$953, a 5% year-over-year increase. Year-to-date reports peg MA LTV Per Approved Submission at USD$975, an 11% increase from the prior year period.
Additional Finances
GOCO stock reported a net loss of USD$39.2 million for Q2 2021, as compared to a net loss of USD$22.9 million in the prior year quarter. Adjusted EBITDA in the amount of USD$14.3 million for the second quarter of 2021 reported a 47% decrease from prior year numbers. This year-over-year difference was largely driven by 2021 strategic investments in agent capacity, marketplace technology, branding and the Encompass Platform.
Scope of Company’s Performance
The success of the company’s Q2 2021 financial results were ensured by the company’s ability to increase their agent counts. This is in line with their 50% growth target, seeing the company ensure having ample agent capacity. GOCO stock expects the capacity to help address anticipated demand during the 2021 Annual Enrollment Period. Enhanced training and tight labor markets, however, have resulted in unexpected cost pressures. These pressures are expected to persist over the remainder of the year.
Future Outlook for GOCO Stock
GOCO is poised to capitalize on the recovery of the global economy to pre-pandemic functioning. This is evidenced by the success of its Q2 2021 financial reports. The company is keen to set the stage for its operations once Covid-19 restrictions lift. Investors are hopeful that management will execute their strategy, resulting in gains in shareholder value.
