EHTH - Earnings call transcript Q2 2020

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the Q2 2020 eHealth, Inc. earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions]. today's being that advised be conference recorded. is Please Instructions]. [Operator hand over to I would speaker conference to like now your the today, Ms. President Kate Vice of Relations. Investor Sidorovich, eHealth Thank you. Please go ahead.

Kate Sidorovich

all either Thank joining about eHealth, XXXX webcast thank afternoon quarter you. discussion you second results. Good for a us phone by financial today Inc's or by and for

completes will On the Officer, will Chief Hannan, the Revenue Chief we Officer. Tim questions. Derek Financial Flanders, Yung, we Scott call have this its After for lines management Officer open afternoon, Executive eHealth's remarks, and Chief

a is the As following of being and webcast be replay reminder, and of will website website our call. section IR recorded available today's conference on call the call from our a the

regarding fixed regarding XXXX revised financial contents guidance productivity XXXX business, the plans. our seasonality, and our of and expectations for talent the variable business agent our our and beliefs expectations and third the relating enrollment, our demand, our and of future Medicare full invest acquisition including including retention statements We acquisition estimates, the platform, including technology to and growth, the regarding strategy, Medicare operating our growth finally our five-year agent expectations business costs expectations, carrier and of of year profitability quarters growth events, our initiatives relationships of our COVID-XX churn, including this our be will strategy in engagement, our guidance, strategy, our Medicare forward-looking statements and statements benefits such regarding and and remote expenses platform, to making direct-to-consumer efforts, and Medicare revised on competitive customer member plan advantage, consumer our on the fourth generation our our values, customer enhancements model, customer enrollment online business outlook our our impacts care including includes plans demand to call online and marketing that lifetime

call represent this today. on statements as of eHealth Forward-looking views

You no rely of on statements as forward-looking information the We views events, new undertake or representing result obligation to as this future should information, update our otherwise. future. or a whether in not duty statement, in the contained

statements looking forward-looking cause results that and We materially other describe from actual in differ website to Form and risks Report projected Securities website. with on Relations and could to our XX-K may uncertainties those quarterly Commission, are statements. the in of Annual Investor you reports XX-Q which uncertainties SEC risks on the Forward- subject Form our or these our and section Exchange access through filed from the and

presenting this Regulation considered be will certain on financial We measures call SEC are non-GAAP that G. under

be For About can comparable the to heading GAAP Investor non-GAAP in please which included financial in in refer our our measure our and website Us the SEC Relations. directly most filings each the of section to information reconciliation release measures, financial press the corporate of found under

And the our we CEO, as However, projected EBITDA over not items for expense effort. And income XXXX reconciliation unreasonable at reconciliation stock-based certain our we without net is reasonably compensation and call GAAP point, taxes. the the in predict projected I because in income to our will have Scott such cannot provision to turn not this Flanders. available reconciled

Scott Flanders

you Kate welcome everyone. and Thank

customers hard insurance that to seniors, the to mostly important thank eHealth those mission a impacted is and work relevant mission. team especially circumstances the our affordable pandemic. and unprecedented difficult are healthcare in customers our continue dedication time challenging helping group who ongoing by to disproportionately their I every health and to connect fulfill critical most We ever. for would This is for to highest continuing to like and our for operate is life quality, their Access the with proper is times. than person more

to call revised quarter with this use key financial results, five-year updated provide our the annual plan. to discuss going points our guidance of are you our and XXXX second We

the reducing to of and forecast applications favorable We a of XX% agent for We growth It's were acquisition to year-over-year strong growth. Medicare compared Advantage by second of year our also platform business productivity This to for XX% The quarter highlighting assisted our online grew This products medical allowing that per customers second achieved approved our Medicare cost total revenue includes just major online number million, while the major enrollment Total strategies Medicare implementing remained initiatives to our compared number Consumer online, second opportunities. approved exploiting earnings. member, the quarter unassisted absolute XXXX. compared On ago, submitted ahead and this year-over-year XX% demand over Medicare us partially expectations. basis, worth a was talk will robust an for to the underway and ago. submitted a Medicare enrollments. grew market will revenue dynamics. enrollment our also and quarter of internal of approved internal again our the on the I revenue some we eHealth a Medicare medical position for initiatives profitable members. increase. are have XX% members quarter online second about discuss in products XXX% growth applications our continue Later, $XX.X we of agent quarter, second includes the also delivered once year exceed growth. total for In driven by our to continued and increased

EBITDA net adjusted loss at and was compared our million a XX% revenue GAAP million grew million. $X.X ago. $XX.X was Medicare year to $X.X Our

our period the year. quarter, upcoming the enrollment and operational the planning During we completed for for updated financial forecast our annual

plan platforms. the AEP and anticipating with last direct planned market across functions. This knowledge gains key robust selection tech-enabled consumer we acceleration fast-paced significant gained AEP's and on all in share to Advantage a by enhancements building two over strong Medicare success with an are We are year, our

allocation technology larger percentage ago. a driven will force. systems to agent to new is by our agents, Medicare First, be ranking agent year a in-house expected This productivity by our AEP significantly remote and lead enhanced of this compared increase including XX% deployment,

in in Medicare includes year-over-year cost unassisted productivity, enrollment year ahead of applications from products. enrollments major online agent plan online expected substantially targets online combination and partially our XX% approved enrollment agent to quarter, XXXX to Medicare enrollments. we for medical full is for coming XX% With Second, care This are member. significant it increase higher customer of assisted forecasts the our further we for to penetration. second And increasing our our total enrollments drive in a and reduction per in with online

from a our partner drivers important strategy and a generation our than strong from strategic demand a we increased data growing reliance channel, including to expected of this our partners. partner We marketing is It will cost a channel carrier revenue. continue contribution AEP. Third, believe forecasted we previously with on new to number plan deeper multichannel differentiator for analytics will eHealth. of acquisition contribution and be major Medicare of better for with the relationships enter Fourth, improve our one advertising AEP

of updated to forward, center. a technology eHealth Ahead going to built personalize with focus customer customer stronger we points and in their across order place are new interaction plan an data the member platform, recapture. Finally, enrollments operational to business, enrollment It our while interaction customer our will relationships Based experience the enhance on is Medicare brand all launching important around we our of post stronger retention on increasing AEP, and and expected the raise awareness. details our ending our increasing strength for deepen of growth share in Derek March, our guidance of in online members, completed capital call. the and the guidance full we on our the with year are financial we later XXXX.

Turning with now demographic environment term The our highly and is plans. significant tailwinds. to regulatory Medicare longer strategic market favorable

believe space do continuing all well to away oriented platforms in differentiated positioned platform. in for market consumer broker market eHealth best leadership that of channel. is our from Of major the and We to gain personalized term the expect to platforms, because for these traditional consumer technology our share comparison direct near we

been Technology that expand of some the more. eHealth since DNA and on ecommerce have in me Let inception.

platform in our and industry. a and focus innovation established have investment in best-in-class Our technology ecommerce

and purchasing experience plan. unified user analytics a customers and predominantly Medicare support have which advanced the center peers, providing online, on selection is These our own flexible of licensed issues product those with approach consumer technology complex on a to platform been shopping consumers and choice on force call broader selecting agent optimize provides with the technology technology A tools. experience, a that of Our this their both our data-driven and relationship. superior and the not critical investments aspect plan and focused contrast and software to

believe underway. environment. already dimension was which digital, upon looking investments advantages, on While seniors with months, many evident Derek is more who do deliberate. near they to shift term This the shift expand margins. accelerated competitive a among effect financial durable have in the have his months these industries in been us remarks. will last a we dampening recent for The has safe consumer particularly This are across provide

our to position of given seeing take ecommerce, are advantage trend clearly We strong and our are long-standing a focus we platform in this on it. on

plan tracking of also online and to are significantly member by more the consumer By customers, are scalability of XXXX. scalable we relative model. a profitable, other high five-year penetration, characterized more our and at of participants financial our Driven foundation are only to addition profitable, Day Analyst that we we per are our In growing flexibility providing in provided enhancing strength are for creating value convenience enrollments more but persistency. currently provide to omni-channel by the operation ahead online we not market a execution, May superior

outperformance of by plan. to in high with Under billion plan significant for financial in margin calls $X.X five-year our $X.X our with billion of XX%. revenue adjusted an XXXX in are we outlook, margin a adjusted revised updating XXXX. EBITDA plan, Given and revenue the The to-date XX% EBITDA generate case our we revised five-year revised forecast the financial

XXXX positive to from operations plan fiscal under scenarios. now we both Importantly, in start year cash generating flows

XX has Our and strong enrollment past throughout months expected exceptionally plan. financial been remain five-year in to is the our growth strong

top acquisition or year profitability said, first priorities. half to levels Advantage by in took this initiatives churn member compared that addition, we plan already favorable of be operational our In to the the to the efficiencies. our dynamic and identified even to works year, strategic Medicare saw this retention is and moved That expected compared our as of driven we observation. XXXX, We increased this as action historic unchanged in of greater cost were soon

more me color Let this. provide some on

aimed years, a last was driven transaction delivered experience four scale and we market was results. enrollment the executing strategy strategic This it have deliberate been a focus and which at optimizing significant share. consumers' Over driving and

are member retention on next focus increase look five as However, our to making we and years, ahead a we the decision recapture. to strategic

that drivers determined are driven key has assembled elevated have of we plan to We macro the a action that led the some recent Revenue it. combination Hannan, Tim eHealth's to our business effectively in by and Officer, by team specific address comprehensive a to to The a that dedicated churn model been churn control. be increase to Chief should able factors team factors and identify of develop

in side, AEP to absolute In importance On and implementing of in enrollments, enrollments, need the which online these MA retention opportunities same number by initiatives this is consumers place choice would more a for of recapture One At element member of plans. critical the market the and these numbers more broader retention time to and thing total a enrollment the which the benefiting MA our and as multiple percent emphasize Medicare with macro detail. in year, business. have in a broader to that robust is we shopping time, to online both are share are strategy and of describe also throughout environment, the of led increasing a Tim I members. is MA strategy and Increase will dynamics critical switching have faced plan like market efforts. in our

that which last Our of online was in spread most enrollments. driven the to users with higher two engage telephonic churn widened significantly have is elevated by us the that further compared in persistency quarters This those telephonically.

lower higher we closing, pleased In have providing users the member acquisition economics. also online LTVs result, for superior quarter. while a results our As costs, requiring both for with are

we and leading which build and have market outlook term, our that we are the working and taking reflecting XXXX urgency five-year revised a strengths guidance We right we to for churn plan. remainder in address confident our actions to near In with beyond robust the the are are position. of XXXX the financial on are and

delivered centric shared our on conclude those we four consumer ago, and let Finally, me platform. growing saying share of by our for that building years market our put, I plans. Simply have business strategy

of Our turn to Tim ahead. I we Revenue the our recent omni-channel and I confident our many years of And results reflect the we over our grow business call made have underlying this, the am that actions offering. model Officer. would to strength Chief have with strategic Hannan, like to growth

Tim Hannan

Scott you and Thank everyone. good afternoon

experience revenue Scott can margins our is we to function. we improve shared, XXXX shopping in create beginning consumers organization At in sales and marketing the saw we for goal our process. saw and expanding omni-channel extraordinary together the XXXX, Medicare bringing performance As by most and compelling deliver one upon under the that in the XXXX the teams of

These agent a During plan expansion, consultants allow of of and of that a investments, include quality. those to a marketing system of call to our future identified practices force a We review model way member. agent our model on and improvements process launch management agent with our would appointments improved licensing us for conducted accounts thorough help few. cost managing scale marketing external QX, performance and an a to initiatives and agent and smarter for to better expanded with and a we reduce sales per number for variable critical the new marginal both call that routing an name upgrade recently investment the

We crisis. COVID-XX from expanded our the capabilities home also rapidly given work

felt results full changes of decline the to quarter. But in quarter in agent an Medicare compared be these second meaningful will a year Some approved member cost increase per fourth initiatives productivity a the in have of in total these the yielded ago. impact and X% with

our Regarding quarter. our became first elevated after Scott address churn the initiatives, levels leadership to the when enrollment period Advantage Medicare apparent outlined, retention mobilized runs we team through it as the open that

number are for control While remedy we there and our within to this that we already environmental which AEP. factors are churn factors that believe of shared, contribute which a there are to are and working Scott

of to better we increase have achieve where is our telephonic opportunity a in quality levers our of enrollment. primary Our most recent occurred performance. The levels the churn number improve process sales telephonic to in significantly

shown the those agents, less has tenured that enrollments from our analysis vendor Our deteriorating we on completed particularly partners. retention telephonic by experienced

balance to healthier of this are year's we AEP, and shifting For a internal vendor agents.

model that and in full-time staffing launched March flexibility remote us Our was agent our in affords cost-effectiveness expanding greater force.

agents goal. retention to including align We the compensation are of also our management performance it structure changing with model, the better member our

scoring to Additionally, agents we are to bringing with experience plan better improve position our data science and the recommendation algorithms for telephonic and call enhanced technology our success.

on experience than On the shopping customer growth relations side, our best-in-class focus historically a post-transaction and consumers rather on and has enrollment to been retention providing experience.

We much of and team the our emphasis Ahead enhance with going to in on quality forward. we launching expanding the planning to after are place retention technology AEP, of experience are new platform stronger now a our initial sales enrollment. a communications retention new customers post-transaction the

in QX A is incorporated our of next XXXX enrollments long-range Scott our that reflected be in and LTVs seasonal it positive our not and initiatives results assumed cycle the churn, financial there our of is impact year the positive guidance. plan on impact Given of will these into the discussed. until

to rates grow continue two our AEP retain higher we as enrollments. should impact rates longer enrolled overall telephonically. online Advantage XX% who addition, the first given a compared of It approximately that retention our to members also to XX% during enrolled our with online have positive members product Medicare to In tend churn on contribution by who

and in years. and the our expect of AEP experience We last it success, achievements our of few to the be another building are now midst preparations I on

selling this our season. We ahead of planned functions key enhancements have substantial important across of all

variable turn to to we our And to Yung, now, costs deliver Officer. experience leverage Financial investments. Chief lower and over customers, like our technology call these With would I improvements, the our to a better plan our Derek

Derek Yung

Tim and afternoon good Thanks everyone.

productivity by measures Medicare was second generation a compared growth strong total a member, driven quarter enrollment enhanced Advantage Medicare $XX.X impact advertising increase and of expectations special the online reduction year workforce. Medicare accompanied members XXX% demand Medicare due quarter, generated Second of initial in approved of compared approved $XX.X Medicare XX% business, growth COVID XX% quarter continuing to financial achieving the segment Growth carrier grew cost-effectiveness in primarily of related our XX% enrollment The and in a part agent second consumer Medicare XXXX. underway due and to our results period in to and our year-over-year our quarter acquisition a by demand, revenue. our beneficiaries In million strong profit year-over-year per million, revenue the to fulfillment. during ago, of growth the exceeded a reflecting and costs in introduced revenue enrollment by gains Medicare for

lower family ancillary increase family Second ago. was positive short million members the quarter policies million, second small offset an major compared by our impact of in individual, business and XXXX a compared IFP from including A a term a was $X.X and small new approved plans revenue with to to and a medical ago. individual, profitable in decline year from business revenue a XX% for and tail segment XX% on remained segment The quarter. enrollments profit year $X.X decline products IFP

an of second increase XXXX. revenue to total $XX.X second for quarter the of XX% was Our quarter the million, compared

and emphasis acquisition costs, continue attractive topline to ratio generate our lifetime on member growth, the is goal significant to As with including value to we related expenses. maintain of an agent economics marketing total

growth the aggressively to pursue lifetime been estimates. business growth commission marketing growth care. drive our and enrollment allowed broker profitability relative Our technology and our our Advantage and collections and by in and target. investing in favorable commissions increasing share market in strategies online us by costs customer This driven our levers to Medicare driven acquisition last years, In values have to have match to multiple two

have on our LTVs the we half year, quarter full estimates in business levels. MA historical XXXX our a were second that had the trend year and first levels However, Medicare observed impact LTVs. of This relative Advantage elevated our in negative the for to

Tim our levels. enrollment while online As in cohorts newer pronounced discussed, enrollments to telephonic more on a had churn increase member impact and our churn lower continue the at

large XX% after Although observe expect churn, the amount before MA of in to historical by was in also in to compared up related for of annual into we special significant the We single our for full that decline our revised is especially been guidance. LTVs has quarter the to time, currently yet it we elevated was for quarter. period a mid XXXX XXXX Medicare and costs the quarter the to XXXX because fourth second for acquisition At project of QX same per the COVID of and by levels, time we member the the that of quarter in reflected for year, compared digits XX% have decline which full the it, approved given the don't of to XX% quarter approximately effect visibility year XXXX. end XXXX forecasted enrollment fourth part

Medicare to LTV expected member a per which our positive ago, profitability, favorable remain acquisition will ratio, our result, impact year is a a to by have XXXX actually costs to reflected compared As total on member the improved profitability. for as the overall and could full year

popularity impact process lifetime longer expect XXXX members. XXXX. Medicare levels the for of our programs We described, values will a higher Tim MAPD driven related with churn growing of our and PDP business the eventually flow the PDP member high year currently as to end of cycles, plan the XXX,XXX a compared to ago. year are of are MA persistency levels of full LTV retention our revenue-generating trends product of at also enrollment compared in we year-over-year book Supplement in the implementing to addition, quarter Advantage, priority to The Due a or Outside initiatives In economics second of in cost new estimated for get to aimed our back primarily quarter. seeing at number member lifetime product, take and versus our through XX% the observed standalone our to time, significant favorable Medicare of in from an was of At Medicare we initiatives. increase of retention of in accounting members our MS specifics plan. of values by our enhancing we second approximately same increase number the

second GAAP was quarter loss $X.X $X.X XXXX metrics. was earnout our income EBITDA intangible profitability for million the million stock-based EBITDA GAAP change value and to million, of the and XXXX fair second the $X.X loss net compared We assets, taxes GAAP expense, compared of amortization amortization, liability, of adjusted Turning net second compensation million the depreciation $X.X in calculate loss. quarter by XXXX. to second for for for from of of net to quarter other of XXXX. quarter Adjusted to income benefit of adding

flow $XX.X cash quarter second negative $XX.X negative quarter operations for to second million the was compared from of million Our XXXX.

we $XXX cash XX, our under in line cash, As million of and of we June had equivalents outstanding debt securities no had marketable credit. and

Our million. balance a balance sheet commissions also reflects of receivable significant $XXX

our the second our earlier our our reflect by year. quarter in growth and ranges earnings second now can to through in opportunities are for this highlights outperformance provided today. revised raise guidance capital our full of We issued will you release provide March offering guidance equity I annual time guidance this find and increasing year

We range to million to guidance prior $XXX to $XXX forecasting range $XXX are now of in revenues million the for $XXX million of million. be to compared XXXX

$XX We million. to compared net to $XX guidance of income to expect of $XX GAAP million range for million a be range $XX to in prior XXXX million

in prior XXXX be $XXX $XXX a range guidance $XXX We $XXX million to to of expect adjusted of range compared EBITDA million. million million to to

about outlook the of thinking some Within be of the remainder these quarterly for year. numbers, seasonality to there mindful to when related dynamics

third driven we low volumes. Medicare decline in seasonally a the enrollment in expect sequential revenue our by quarter, Specifically, primarily

ahead customer period. quarter in third side, operating This sequential agent expected as increase care primarily a we enrollment ramp be will up and significant by annual of training the our costs. fourth our increase we the enrollment On in expect hiring quarter costs driven expense

a and low new several customer by seasonally per expected AEP. profitability driven quarter a and of Given volume the quarter become member fourth a is to for EBITDA. in quarter in increase terms quarter third because largest and be is sequential takes approved volume, it significant The to agents large enrollment weeks productive, we that anticipate in QX drop costs revenue care

full to of annual million For XXXX expect of tail year EBITDA increase the a XXXX, margin EBITDA. midpoint quarter a the the ago to margin deliver with of another after the year the we impact $XX.X XX% fourth from in guidance compared our excluding margins XX% at revenue adjustment in XXXX

In but to dynamic, context the technology is the margins. margins some the further thinking differentiate is peers our XX% are is when our attractive seasonality of EBITDA deliberately in addition guidance platform. we of due investments to below margin to making our The about there our EBITDA point midpoint at

expected During of $XX revenue million guidance to technology range. XXXX, midpoint at include expenses our our of or are operating approximately investments of the XX%

expansion in reflects significant plan which years. percentage revenue to expect five-year will significant segue This several outperformance for and strategic investments next of starting to a as these plan several that of less become meaningful the me next review to-date financial and our for nice we XXXX. margin highlights updated the our Over our drive the years, financial a provides

$XXX tailwind and and to case represent million and under XXXX base base midpoint scenarios XX% recall, The a upside of we generate XX% a previously revenue $XXX scenario upside will you the scenario. As in million revenue guidance tailwind under of plan. the to the old respectively of a million our revised $XXX XXXX expected

tracking enrollments to-date. better EBITDA of well Stronger are contributed our combined agent enrollment previously contribution to than outperformance We have all our growth targets. higher productivity ahead from with and online expected

quarter case the while the The the from getting the marketing online performance in XX% financial adjustment a retention. and enrollments. also to CAGR on has high the tail contribution fourth revised forecast to year Under and as approach XXXX updated projects the we of expect revenue an with period on million $XX.X expect growth drive enrollment Going grow our stronger forward, channel we base in disciplined plan impact of emphasis operational us of increasing strong The after reflects the XXXX ROI continue incentives expect through financial five-year revenue base significantly more five-year plan XXXX. to scenario, excluding member enrollments $XXX to CAGR online XX% we also with case revenue that Under in and by will CAGR of billion revised expect high Medicare CAGR total total of this EBITDA to scenario, that medical the major Under with applications. margin. of billion we scenario, base XX%, XXXX online by Medicare EBITDA the getting EBITDA XX% will approximately EBITDA and XX% XX% of million margin. represent XX% million $X.X medical expect or $XXX applications. in XXXX approximately by XXXX Under $X.X we us XX% XXXX enrollments represent or by XXXX, case of scenario, major XXXX,

fiscal we you after the scenarios are get expect year want that by current we these for indications a we guidance year. As these cash flows both assume estimates, our and at of based LTVs any finally, XXXX. and XXXX, to duration may in expect XXXX roughly our remind mid levels period to the in of digit forecast to to I assumptions operations current see time. business this back levels judgments And comments under which scenarios, from our on change stay single Advantage and positive both Scott mentioned, generate of Medicare that decline at

Our estimates, to guidance. We our result actual changes results comments judgments. and of our or may undertake update differ assumptions our no obligation as in a

closing to the Scott for turn we for open remarks before Let back questions. call call the me

Scott Flanders

Thank you Derek.

for open to I three key we emphasize questions, Before conversation want takeaways from today. our

provides continues win growth as to enrollment and health centric consumer differentiated drive a our distribution First, to to online strong evolve. platform by eHealth the is that foundation key market unique in insurance

expect AEP. Second, had we investments quarter upcoming the we reflect to capture making a the increasing we second the and are are to opportunities guidance have and strong in

decisive actions taking are levels. churn to we address Third, our

have to it resources dedicated plan in We and tackle issue. a the place to

that Finally, will shareholders. increase years, deliver in eHealth. over Q&A. on and Building are the organic future value moving with our that, to market, the Medicare growth we the last enable five-year open capture Operator? let's enhanced are success the opportunity about excited forward to to plan our we profitability floor very four of a us With

Operator

[Operator Instructions].

comes question first from with Singh Credit Our Jailendra Suisse.

Your line is now open.

Jailendra Singh

Thanks. Hi. Hello everyone.

quick a outlook on comment. Just follow-up long-term your

course you well. online like in from that And should to you retention are on mean doubled is sign-up Then you said trending you percentage online as doing much investments the rate So I benefit also enrollment XXXX. expect rate all retention the higher. of what did almost

your MA with wondering XXXX you $X,XXX LTV some $X,XXX. are other improve competitors did compared expect Just in guys why of like don't to of you more the what from

Just is LTV trying to offsetting like your understand assumption? what

Scott Flanders

conservative think very high and off we level. into case LTVs of Well, our built is both have we case base in the a CAGR and plan the just X% XXXX the long-range the are

this dipped we year down. So

We single back above then stabilize XXXX and rate to in grow XXXX digit levels above will modestly XXXX.

of the So to element and it's likely in an conservatism overperform. plan it is

Jailendra Singh

not Okay. for you rate. I improve And XXXX from can comment. my for higher? am announced, put was before your rate then comment QX saw missed to out And churn intra-quarter on, the you can SEP you or XXXX place? is perspective give I QX in improve churn QX parse did churn around But trending churn sequentially follow-up sorry And Just especially SEP us if see cohort. if spike this once you some was and in Or was even whether QX cohort?

Scott Flanders

you ask will I Derek, that. take Right.

Derek Yung

Yes.

it's did and in industry. also churn taking coming not in the observed for that initial platform XXXX on a a the from OEP general AEP full was data combination to visibility but of we saw we in estimates OEP our through switch churn higher AEP we more with the there in the plans And Jailendra, So then enrollments. slightly And the our just period. what the see tick seniors period, opportunity up the

Jailendra Singh

Is just higher is QX I this QX to was like, am understand, trying QX, churn even churn? than

Derek Yung

QX which the churn We seen don't the a OEP. had QX have be in QX. we with churn enrollment don't into the period, not in because higher quarter-to-date, though uptick we in of OEP have terms yet. have makes switching we we full visibility levels seasonally But not members have we at special to sense Even saw seen

Jailendra Singh

am intra-year, that, year-over-year are I churn from your second have absolute ask the seen generally similar understand I LTV at assumption it's just QX. like you But you you why that what implies first if improves, am in know, reason the like dollars to I to to is to I LTV, is clearly expect right about decline LTV how half, improves question. half sorry, second versus QX do look half? LTV it for third QX? trying But for QX but thinking rate LTV you

Derek Yung

XXXX, churn see question to did was specific yes. is And increase? we QX the Jailendra, sequentially QX XXXX to answer your from

percentage So QX amount, up QX to about to we went same XXXX. the XXXX, QX QX

Jailendra Singh

Okay. Thanks.

Operator

Thank you.

Our Sutton next comes from with George Craig-Hallum. question

now Your line is open.

George Sutton

you. Thank

one has the of items am wondering your specifically you case, can have impact been diagnosis that was I rate. churn You on if is enrollment the you view? your telephonic the some that referenced thought having in explain done why

Scott Flanders

correct, George. don't definitely That's Tim, why that? take you

Tim Hannan

yes. Sure,

to improve opportunities and sales process long So diagnosing every identify we spent stage. the it at really a telephonic time

front-end, internal will the we at mix have healthier vendor versus agents. of So

So vendor are we not not effective see agents agents agents. that as and effective are older as as agents internal as can newer

somebody And This so provide our we workforce to up once churn. rapidly. have Then, definitely tools. saw could in led scaling we shopping process, the that we better an increase to is been in has

selection. So broadening of plan mentioned, Scott as a there is

We use this whereas to research for recommendations agents make better in is online customers better are our year the that telephonic themselves. to to algorithms bringing

compensation are our aligning apps. We better paid our with to also agents

we we ago, submitted. years paid to of on Then moved couple a So approved.

basically we paid. paid eHealth out our later framework to it right plans. agents when get And moving where a will approved Now keep put basically they and the pay if they a to people draw gets in but on are pay

a of that there are these think steps sorts So of we number work.

Scott Flanders

George?

George Sutton

Yes. I very focused on guiding are I wasn't higher. meaningfully follow-up, am here. if One but hearing I are you we churn could. Obviously, Tim.

bit behind partner So more and it relationships what a meant little terms in with was reason carriers sounded And stronger can of position you wondered like you if detail there? go stronger that. a in I

Scott Flanders

hospitals COVID a we is spot A that started good month for well. a off real the exclusive last started half gain the the really has in issues are Well, three lot surprisingly expect a been a second half they They three momentum. ago years are a through And deals. as pharmacy momentum for term. face. the given through of with It first partner There relationships being three-year ago channels to Yes. the and mid-June, differentiator us year July. and of weeks were pharmacy the to about relationships. start with is and the to bright long are those us starting of we and four lot just very not already first or But overwhelmed of be first half, just yes, strategic of channel, stopped launched the in again year gain in to

What was question, repeat other the channel, part your the anyway. of important. that So Thank George? you you. Maybe can very partner

George Sutton

the carriers. related It to position with the

Scott Flanders

And increasingly is differentiated them includes channel broad attention with. we realizing resources loaded others. in are this for revenues And of of forces. model we even and the Yes. the and that commissions The distribution are they most fully sales we part. which and which that are a are dedicating and carriers focus TranZact sector, captive the cases. support GoHealth advertising to we a with are channel other part that carriers cases, and channel telephonic SelectQuote But and In think narrow efficient and very it's They cheaper, fully-loaded many are slightly.

respect personal face-to-face to over are because forces securing understandably. their with of year concerns sales seniors this captive challenges safety, the facing with addition, appointments In

suggest channels are carriers against And underperforming. so they hedge third-party their investing channel my a would discussions that as heavily captive with in the distribution the

revenue carriers. and advertising reflected our this from coming positive us a think expectation the for our we increasing in real it's is guidance in for So us

George Sutton

Perfect. Thank you.

Operator

next And with question comes Tobey from you. Sommer Thank SunTrust. our

open. is line Your now

Tobey Sommer

term you. are think you respect Thanks. for market to it in forecasts, planning that other reasons? you the your offer can to you revised long constrain of what from perspective, growth? could terms feeling does Thank growth somehow Or With or you talk, reflect a

Scott Flanders

was it two so it as upon May have thought the me Tobey, first as was five-year to let plan given sell in outrun that last Well, side presented it take well incumbent meaningless we case tailwind parts. our in us, I to investors. year, we plan, just of mean a we we revise that five-year analysts thought

our the the driving high wish case case management case the is seeks in to. mind And a high to to is we so It's five-year that's is worst case. And revision. case The plan highest commit deliver. that that what base not the

could do market the even And believe so high the than we greater opportunity case. present that

terms none age in environment, assuming is predicated they of eligible XX% no upon the The base which market and expansion of Medicare eligibility macro that it to in our conservative, would Biden take the benchmark case you assumes to as total health Just in projections. in to is of what for XX. of still case be would penetration believe the assumption regard MA is an I what the that's is XXXX age down Medicare plan XXXX. That's Humana a high by XX% conservative,

assisted In this between case. total we lot the two, is combined however, case online. very but margins the improved is that XX% XXXX case And terms online high unassisted, between in it in is of A narrow that, would the and and persistency be case XX% and total base case. high a And unassisted, versus the assume has online high in million in the range base difference enrollments it's high we of the base deltas XX% and it's in got in momentum fairly very and Embedded between case. XX% which online. high of tremendous $XXX a the a

So that's eminently achievable. think we

than We have we last million months. enrolled visitors XX our the and XX fewer online in unique to site XXX,XXX

a the the conversion So is and and fact engineered of rate launch this is and the improvements functionality are now metrics initiatives even to significant had, that that we are the that year next persistency that rapid what's and tip online really experiencing and didn't will wanted momentum the center today are a spend on lot the we iceberg significantly experience low financial terms launching the we we it's user right year. as of that that further in in very customer being we highlight of improved time this

is plan of we so our leverage platform. piece going conservative And online think consumer the most this financial receive we the to that are from

Tobey Sommer

Thank you you. terms I much. enrollment assist? for What If fully LTV like Thank in a ranges independent ask very follow-up. online look versus the or rough online could does

Scott Flanders

to I Derek. will punt that

Derek Yung

online to persistency has that enrollments. And AEP as differences. about we was direct XXX commented Tobey, on from that enrollments better the remarks that enrollments we than telephonic saw in to Yes. our for correlation the prepared XXXX XX% in a LTV in

Tobey Sommer

Thank you.

Operator

Thank you.

from Dave Jefferies. comes Our question with next Styblo

now open. line Your is

Dave Styblo

what elevated, going are we Are down? of what you in enrollment start how to vendor within just the the Or was look doubled function count period? the think that starting channel outside Hi pay, things that having how to there. learnings back, that to an fourth a new thinking, some add you questions. noise And in about more happen? and churn of think? we it suddenly approved? as and the should many so had why time? a be agents Or look maybe in thinking change be new numbers the aggressive quiet approved improve I too quarter? maybe the versus the also of a explore door perspective Just should special third was Your is as Good you do from had new growth too and quarter. was folks through now need there AEP just OEP, thanks maybe for and many stay should in wanted and are you rapid churn guidance you we growth fourth to curious Do back bit the to the use understand, and about then guys just they next from afternoon and better the as telephonic did to was little they we this to

Scott Flanders

had year that And have in number of as is Indianapolis are with well your not of said opened just We was, the Dave. churn. your to and and physical agents. first, us are be that internal that what our last efficient goal was Yes. us our to which goal benefit for and year our definitely caused again, will last abate, a company. But of we the still But call expand ahead Taking later. seen I agents, of we I think had bit My speaking we expectations first. successful effective AEP. was we know just staffing. a it elevated is ago. marginal one question you you well to vendor And lag growth very our well critical, answer. watchword be It we let's you first ahead hindsight, to the of we on churn And and more center asking, calls the vendor And grew this a expect being third-party

by as And will our guide the down will year, so are as seeing almost you our see of we significantly to that and to what you half increasing that was in-house growth last year, be are we are of agents. of we what the rate enrollments converted balance slowing that it closed mix

have enrollment increase. count be we built a guidance about total Another which this I conservative think way into XX% growth it, we to agent only Medicare about believe on to know XX%

are math increased that the through we and balance the year. on of the So expecting further productivity way seeing to another just that's the do

Dave Styblo

it. noise Got real And special from the Okay. enrollment period? no

Scott Flanders

A little. what Derek, about you would say that?

Derek Yung

saw due bit Yes. but enrollment a to up near did the nowhere what period. see I pick with mean, we Dave, period special certainly we enrollment enrollment open the volumes

some but that was just period. fewer to relative we perspective are that we switch that which got what impact it growth from observed people market there meant they in during revenue marginal significant a there So not to looking are also

Dave Styblo

barrier will of talking are you Okay. obviously like guys of from And Curious standpoint look are you in operating or a out-year? and if about a sense had the follow are that talk term of there we just the what bit but for end-year, cash longer past, that the the given level. getting in If profitability, outlook. us willing would to sort to what be a about at think that on little the a receivable I looking like again, then numeric kind looks specific commissions you that would

Scott Flanders

case the the in high billion $X.X case. about in it's assumptions. base Dave, the with That's conservative LTV and Yes. about $X billion

Dave Styblo

commissions well, receivable? $X.X am billion. about And I talking

Scott Flanders

our about the on we end At high billion balance, expect billion case. $X.X on case $X sheet That commission on XXXX, balance the to up the be base our balance receivable would about of and yes.

Operator

next our And comes Young with Jonathan you. question from Thank Barclays.

line now open. Your is

Jonathan Young

guys. Thanks Hi.

down going to try told for initiatives improve of us a and Just the us moving kind you LTV. the LTV path to led minute. have the But all guys kind forward. in LTVs understand I to back these have are of help you putting you of assumed traditionally flat

levels have on bigger Because how my LTVs levels of LTVs. kind much elevated in guess improving you have a do confidence understanding level in are to of XXXX, impact the given back that I So churn get to experiencing the immediate now? you XXXX more churn

understanding get to on better wanted just So that. some

Scott Flanders

Right.

no of level confidence should much back that minimally perhaps The reason is XXXX. we Tim, for your The virtually the driven impairment levels express level to enrollments. our greater you have recent in churn high and get being cohorts You XXXX commission But by than that confidence. there of receivable are we an extremely to to opportunity is on and prior three-year that. right to confidence absolutely balance is that.

Tim Hannan

Yes.

I Scott. right, think that's

confidence. high very have We

on Then and I XXXX. handle getting step you we the that component think XXXX was us internal appropriate grow in back rates confident there direction. enrollments, was upside as all levels we you we described the before, what enrollments own big of online slowing to we what our initiatives in very with a there. agents is feel can putting growth the But that place our our have down telephonic goal, of for additional so right as beyond that is a are the layer

Jonathan Young

rely doing Okay. agent structure guys structure? what Just add about given not were even on more I agents with agents, higher that new your thoughts leading external on make And you guess Thanks. your to it internal more would agent the comment compensation are external telephonic churn. and under that. to internal your sense for the you your

Scott Flanders

take will it. let I you Tim,

Tim Hannan

Sure.

see shifting remote workforce we everyone mean They work et and are our year. where from in to us that's much cetera, think flexibility home agents who par There our are ramping do our this provide I where and remote agents mix. had as they workforce March So many successful get we It was. flexibility are better. never in them we moved recruit in to be lot we too of important large sizable with own seven giving We and gives us the how us on we year any of already led a that are can matter those in of more at from. heading. part our of jus vendor internal we up a in and And had I this tools, days aggressive recruiting before That better said, our were QX. like of a part an partners mix. training, they more perform

have more I So of that mix workforce think but that going forward. a remain internally we forward, will focused partners part vendor going our will a

Jonathan Young

Thanks.

Operator

comes you. next question Elizabeth Anderson our Thank And from Evercore. with

is open. Your now line

Elizabeth Anderson

for for me Could the question cash XXXX guidance you just breakeven about help increased guys. the in the have in why you Hi. talk sort year bridge Thanks number? and of the confidence flow change

Scott Flanders

Derek?

Derek Yung

Yes.

And typically to quarter guidance, till any also is higher the over for costs not social those marketing also guidance. operating number is And is as On following the items, flow. an drive up it, cash related to there portion over built increase of large There make do that sales to a those and revenue two into the investments guidance between initial year. that's our majority guidance AEP full within difference. our increased reminder, expenses enrollments receive the super in the the due we QX fixed incur commissions guidance the the just the we it of marketing a in the change and is cash in operating enrollments, in of

Elizabeth Anderson

it. Got

That's Okay. Thank very you. helpful.

Scott Flanders

growth by long-range expectation flat flow just our scenario when turn unit base second and or breakeven to decline and cash question cash of both high economics, that in terms flow your current we rate expect under tailwinds year-over-year, the positive the part in on do And the then stay third of revised year. the given our our plan, case XXXX or

So based we that on seeing what timing. are we year, that end where to tracks up this

Elizabeth Anderson

you. Thank Great. Okay.

Operator

you. Thank

Our Greg Peters next question from Raymond with James. comes

Your line open. is now

Greg Peters

afternoon. for in. Thanks Good squeezing me

movement there curious LTVs. in in your was First I question movements wasn't the was why constrained any assumptions?

Scott Flanders

Derek?

Derek Yung

Yes.

at question. cohorts LTV as that the we have to conservatism to the Greg, and what life And Medicare through within the estimates the is have of that as of decline the So a Greg, values a you handle our we at as of our reminder, members. still move seen higher constraint And at matter constraint. quarter-to-quarter are apply good seeing, constraint in work, churn is from we volatility we lifetime given expectations the

though, we for whether Has volatility does for the a the get something necessary which So been that to this increased need is update constraint, see has evaluated manner been that periodically quarter, has by And not to in Medicare. it. Medicare. necessary not

Greg Peters

that offline. Okay. take I will follow-up my on

carrier Medicare outlook for better am the mentioned you balance as the out support comments, competitors you And feel I TranZact some in of of the revenue much IPOs competitors getting partners our prepared of from your in Scott, had, is if eHealth I question the are? with these second the curious and there, like financial of as year. The just recent some

Scott Flanders

if not the direct are models both our carriers, Well, a the advertising are And still way most reason and receive that specific competitors seniors our the centric greater them. that's consumer to carrier viable. answer to plan some we support But them. the to support But we centric We that are in that of a we is mean I very carriers of And constrain constrain model, best offerings. substantial seniors consumer the were just majority for the consumer major Greg, we does we put model. their have choice. not. of not is, could want from we receive the

Greg Peters

Right. so reconcile the that year. revenue And trying about back just to better comment the of with your in then Medicare half

Scott Flanders

understand. I Greg,

not are to are while commissions nearly expecting our year advertising our this and double doubling. revenue enrollments We

dollars support, So much the it's growing faster underlying than rate evidenced of at business is than by year. carrier a this the faster as advertising the growing

Greg Peters

for it. Got your answers. Thanks

Operator

Thank you.

with Our from Hill question Bank. comes Deutsche next George

open. is now line Your

George Hill

Hi. and am they any Good afternoon selection? Derek? continue taking are eHealth back initiatives around which talk guess, guys for different have a that to can for questions. such to that members And question ask the their churn when about churn, Scott, to you make carrier I follow-up thanks is, the and way going making to then quick they building I brand sure come a I

Scott Flanders

Yes.

another that with So churn to these now, in that the engagement, are almost churning XX%. plans we Advantage Medicare we updates underindex our other XX% online plan well that e-commerce recapturing recapture of which over only enable businesses very Right certainly, enrolling seniors of is able technology launching submit they change. member. have continual book, we customer low, us are being to especially different of seniors, pass Part the in out away considering unless September will center the as a

to And this been. have It make so do priority. that know bigger hasn't we we a

transaction been have oriented. We

out achieve as grow years, retention will that we just been sell our and recapture been and oriented. we we oriented have to over not retention. not now plans have last we our And We set plans two to fast that the recapture achieved improve we

George Hill

would better going because and do there probably, positive. a some flow the of more more kind the payables? income follow-up the Thanks. if you taken question flow trying guide guide, guide, if I would guys like timing receivables willing offline, of the for Okay. cash EBITDA guide, guys a it's guide net expected Derek, to GAAP on you guess, but this up, follow-up Derek then is I have SG&A of way. just Is that revenue the but maybe the GAAP go the raised cash wanted maybe kind bit crosswalk Elizabeth's it? quick detailed the what between understand income just just are Are walk-through, expense? is, I is maybe am I the little the to just wrong the am and you was have I of capitalizing And to guide going

Derek Yung

reason are you as Yes. Well, well. more since I think it's to asking gives that expand us on

related guidance guidance, $XX.X operating So about sales the million now is $X loss, I and enrollments. that then, million is flow it cost. to And for fixed then think of cash $X about marketing to million right. is there over And another expenses drive higher AEP $XX million to of increased of breakeven

difference. all of So over guidance way the you the guidance there that in gets terms almost

George Hill

Okay.

follow-up questions but have you. Thank couple more I I offline. am think a happy I to

Operator

Thank you.

Our Frank question comes from RBC Morgan next with Capital Markets.

is open. Your now line

Frank Morgan

Thank first make clarification. to about you. answer I Dave's question guess I I a understood. sure your wanted to earlier

in that thought you would fourth both said churn third You the quarters. moderate, and

this are number are number if quarter in second So at XX% saying on go that down. you that we fourth the will the looking and third quarter,

first. my clarification that's So

Scott Flanders

belief, That's Frank. Derek? my

Derek Yung

base number have members lower much older Well, that commented particular the is overall in members churning terms a in the Yes. cohorts newly enrolled metric on and of into of larger membership increase Frank, increase at we that's in of our combination adding rate. what and churn and a also

members our typically a That add would of percentage you are up. bring base, be our it enrollments So lower, it will that And drive in the new down. expectation. share since when larger will QX the member number

Frank Morgan

very specific. this you. was you then clarify, this within remarks, versus a much is and factors how control it's, the is company And commented how much you think attribute that opening really weighting specific do Got just it really factors. industry Would issue? an specific company to to in it the that a you care to industry/macro your of more sounds along But company like

Scott Flanders

points. well consultants XXX precise that that be view the about their about But they that. churn But it's did gut that that already it. third-party by we will the My your more reaction? as operating believe what's basis is in. addressable elevated only And macro is that that Frank, fall. have can't we factor of this over specific than initiatives XX% Tim have said, launched it's Tim, bring tells me We impact

Tim Hannan

little Yes. a differently. just phrase I bit it would

pay our a we the significant deficiencies. means think more price for I macroenvironment

plans we process sales follow-up effectively, if have job we years. will good don't choose way opportunities then in don't to a the more they rates higher where and from in have switch, customers So a at not previous more to and switch in they may

we factor is that it by believe but So exacerbated the do macro I element is by that primarily driven control.

Frank Morgan

AEP, internal that's then in a vendor going of it into this And mix of the you. Thank terms agents versus of sounds part obviously like big problem.

So what that will how that internal and between mix look changed has like? vendor? And

Scott Flanders

under will about that's at that were And third-party year year XX% because We as this peak just external it But well that understates really Right. be number well, agents. numbers. raw last XX%.

sales calls more allocating be because force. internal internal our have sales than external will grown faster We to force we agents our

Frank Morgan

you. Okay. Thank

Operator

you. Thank

Our Leerink. from SVB next Tanal Stephen with question comes

line Your is now open.

Stephen Tanal

and here Hi. guys. we have my MA wanted Good persistency areas I cash follow-up needs. talking online to on for as two questions. well been about LTV today, as that Thanks just afternoon taking

a maybe overall years that let's enough So related more for that that been to point And duration so or would is with kind a I one three longer? a levels those have of this MA this. of mark do booked sample sure Maybe getting than, persistency say, is appreciate the have you of know at to that back sort numbers what of that's you of LTV number higher helpful. be like LTV percent past feel like of for But you XXXX to size enrollees. the into drivers online their of or

persistency. higher the on You XX% to XX% online AEP, are mentioned in than the enrollees XXXX telephonic

I just just to to how want few AEP, understand well. guess that quarters do an I understand? Like as helpful So better would that are measure when you you after

Scott Flanders

Tim?

Tim Hannan

go that of and in focusing or so The a proved retention, enrollees then among the these amount paid attention are don't difference go that short Yes. switch. those for time and our maybe is term big either go short only where paid we

visibility how So out. we that of do playing have a into great deal is

long sample Derek to additional enrollment, of that terms sufficient any In for a do turn commentary. I for have term history online we one size. And I think on will

Derek Yung

do. We

yes. Sorry,

telephonic versus are this has a So also between the a we we noticed that worse. to offline number have overall our What still yes, have spread last here. And years. of tracking significantly persistency observed small spread, thousands in increase of four enrollments, hundreds percentage in year online the the a difference it's is we getting enrollees a side while of on persistency

So add meaningful. And from enrolled perspective, significance more cohort reason XXX confidently can the year. to of it's enrollment first the AEP a whole we just entirety why churn that churn statistic XX to to is of the for in articulate for for for trend the almost days one thing the mix-up almost a first is, maybe

So that's eHealth. enrollments, with not just with the dynamic every new

it. able describe and have and on we we identify been looking XXX basis and the day post have a churn seen at So that to

Stephen Tanal

on maybe midpoint it's looking cash and cash guidance half, Okay. That's follow-up about of super at for first will CapEx suggests helpful. number And side. be of $XX and use the the at the that $XXX just midpoint XXXX million. million a operating The about

So the implied cash million, around million. something back needs $XX $XX of XQ the in the order for half is again

guys your through, major guess to XXXX? XX do plan difference cash positive missing thoughts not, I expect for thinking And am about So do I you cycle, QX QX you there? months Any QX, if be there? to anything CF the how to and fund the preferred the

Tim Hannan

Yes.

XXXX. be to not flow So I us cash on expect do positive QX

Although to cash the in at the year is cycle better look one. that fiscal

growth because annual are obviously terms in in But what much get and from that's we of we to QX cash we And seeing get you from the capital QX. intention commission raise from of typically in funding, have enrollees March So able so in in of that which access correct being to collections equity all the you MA in here. drive QX. the our more are

we Scott sales that are disproportionately terms and is our back look in in-year seeing as cash flow. year help is he will cash carrier which to will is on, half marketing in The get growth revenue advertising higher redeploy other thing which of investments, to of we commented which a we

Stephen Tanal

Thank you.

Operator

you. Thank

Citi. Daniel Grosslight comes Our from with next question

open. now is line Your

Daniel Grosslight

of the to does in the Are flow DTC have data off How taking high that wanted we rate. going? going when for you where they that How system? do question. do I XX% other are can carrier? going you folks you that to through recapture four Thanks platforms? they on the the guys. to next go three back churning directly any eHealth, drive are to think Are And Hi years? they to

Scott Flanders

Yes.

to as then It's And are both. a first. last to as some convert broker to we well longer So platform. And direct no plans of consumer seniors on we both, carrier the are brokers losing other record.

high a the both here the in forecast have base conservative case case. We and

over to is prove conservatism in assumed likely bare are for we that but two customer are double. assuming the achieve with you launching reach only a recapture We retention cetera. just that is increased probably we We the very the That double the that? years, next, could low it think et more XX% we center to that to the we rate. that and the would it ought next minimum Tim, to plan, add of team,

Tim Hannan

main think customer. reacquiring Well, by is now I Sure. driven us a I recapture our would point rate the is, make XX% essentially

we there retention have don't much why which opportunity here. is think significant is So so a effort we

we because in, any a back So they they designated function transaction retention see TV efforts. our a these recapturing function of they It's email, not are growth, a of call have people might an ad.

mentioned following XX%. than think So significantly that just up recommendations process, is we with a better having better better with communicating them, get them, sales to can as them, better I we do at making the conservative. Scott XX% And

Daniel Grosslight

And Got follow-up. it. one maybe just Thanks.

an you pool I productive there. both you the know and well-capitalized telephonic the think because the carriers agents, recruit for And and from agents like channel. have Do who are have you there increasing here? you out as do more of competing a up competitive finite recruitment environment? is moving will bunch more obviously look salaries you folks As compete to to to hire of internal a increasingly peers them boost see towards of challenge the

Scott Flanders

No. don't I so. think

as terms for a are there both and the these medical and other we of in eligible well candidates lot a opportunity. of We And are on very commission highly country salaries this Look, as big competitive industry-leading base is bonus roles. are benefits.

our And work geographic We footprint. call are are now even physical we capability, geographically centers. our limited to distributed with in also from quite home nicely not

of people figures. attracted a time. And for benefited the competitors, agents pool lot, a are next we our the year is Admittedly, to deal help we think friendly be. caused personal we real there of lot all independence, is will jobs, to talked and have recruitment graduates, of and offer our of anecdotally, are us I peer percentage that then so from the are unfortunate that double year there college the easier be that competitors year sales But opportunity, digit experience with these unemployment into to what satisfaction hopefully of opportunity six great to none this probably as levels hard make seniors a a having an a

share enroll continue can we internal from the we agents even also enrollments significantly increasing increase think of we share drive we online. So while the to are more that that we

Operator

am showing any this I would speakers like And remarks. for no to call you. the Thank closing in queue I time. further questions the back at

Scott Flanders

questions. very well very balance this and we I to the all look for exciting know thank for We Thank our and gone have over. consumers of Well, considered you. our your I shareholders. results year forward delivering you

Operator

Ladies program and and your does you gentlemen, conference. the disconnect. now today's This participation on may thank you for conclude

eHealth (EHTH) 24 Jul 202020 Q2 Earnings call transcript