GOCO - Earnings call transcript Q4 2023

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Operator

Good morning. Welcome to GoHealth's Fourth Quarter and Full Year 2023 Earnings Call. My name is Michelle, and I will be your operator for today's call. [Operator Instructions] As a reminder, this call is being recorded.I would like now to turn the conference over to John Shave, Vice President of Investor Relations. Please go ahead.

John Shave

morning. good and you, Thank Welcome to year call. and fourth quarter full results GoHealth's

current risks these determine to and cause Kotte, actual today Officer; conference contains future beyond on company's ability in results or materially of predict. me are Chief the anticipated Financial or from call known our unknown are based statements results Joining Many uncertainties may those factors Vijay control forward-looking Officer.Today's to Chief Executive expectations. and Numerous Schulz, and projected differ statements. that will the Jason

a undue You place update for results on not these and today, new should quarter press statements, fourth any events, the issued the revise undertakes any statements, full release to reliance obligation containing future year any to XXXX. due otherwise.Earlier information, no our forward-looking and whether of company or or we

the the should Form release risk have release, under posted call, encourage release. non-GAAP you that factors number and on directly Investor have will information.During consider Exchange additional Commission discussing Form press this our a financial measures, to GAAP our Securities comparable set filed with described you press measures listed XX-Q GoHealth We the to in for tab. other we statements. the the are forward-looking Relations consider conjunction website XX-K with certain are We These in forth financial and factors most In risk measures. in the the be reconciled we reports the reconciliations and of

the CEO, earnings call now discussed reconciliations of the Relations over will presentation most to to Investor for of to turn to section our Investor the may measures measures call.I website Kotte. GoHealth's during comparable GAAP refer Vijay posted also You this non-GAAP the

Vijay Kotte

cash XXXX cash good and operating significant which reflect adjusted The our Non-Agency operating to improvement results, morning, to drive shift generation. John, continues today model EBITDA, the you, in everyone. and revenue, flow. to with year-over-year pleased you share I'm Thank

are our consumers evolution We Over enables with States focus Medicare as of by in consumer-centric with Medicare XX the choose to guidance Medicare county half more in million of about on plans a can XX engagement Medicare United confusion eligible uncertainty. stressful. them in the X/X from.Navigating plan. live trust marked a from Our to enrollment available provide landscape, Advantage be insight than people beneficiaries options for foundation. these and confusing and and to and are

announced additional have best consumers Fit building enrolled of their option the million XX We best million them options GoHealth's and a the place.Importantly, their and We instance.During Over and XXX,XXX are consumer peace priorities.During shared, a the them Fit our for Fit proud they consumer they a thing a touch proprietary for we points of and provided new Checkup enrollment and best relationship Thus Fit consumer needs. for better X in the best that quarter, Plan who it's Checkups. we consumers plan whether enhances and a Two, tell about helps Checkup. fourth a One, mind enroll not when assessment Plan reinforcing needs. are fourth machine the Checkup.Backed existing better Checkup Plan we this for we enrollment not experience are to the consumer proprietary these plan test to match agents consumers XXXX, and their in the Fit for Plan previously the choose complete relationship Plan for plan new every with are not analytics outcomes plan in of from had by we the switch. we their whether the more trust tool were nearly on plan.We enroll for because takes we benefit did the Plan Plan Checkup. and agents In Fit a reassure and shopping enrollment. them. Fit three, to profile our GoHealth Advantage in we launch learning based the compensated regardless plan.As we Or technology, over no best XXXX, team the an they Fit stress the each plan importantly, our XXX,XXX performed already consumer in into of the Medicare Plan that on Checkup of over them consumers our and quarter consumers their an X with there removes license Encompass integrity faced leveraging tool over already XXX,XXX helped Plan our period, including assess did were annual of we a in told needs experience. XXXX's Fit plan the results consumer, workflow,

Our planned. marketing as worked initiatives

with our integrity a with trusted justified consumers XXXX, and high in our Medicare recent continue centric relatively years, similar when and subpar Fit for more have flat Milliman still that Advantage benefits or health day per with reason be health to than of process investment and market only this traditional a plans.The few believe producer a from chose Plan benefits in commission. new have model benefits is and environment Checkup providing from switch But consumers product was took minimal ever product revealed Medicare led standpoint, broker of hard, from consumers before.However, to leading market Our plans incentives than policies to transformation change primary offering process, switched enrollment our was recommended to our partners. year-over-year. Encompass our relationships a plan Advance This differentiation, for AEP We the plans stayed the the even honor to in so.With might a to do first different we time seen. leadership plan agents worked get analysis An a we there to opportunities showed for we working. integrity up, previously expanded

the we launched XXXX. in reminder, a workflow Encompass As

operating workflow.We marked flowing Encompass quality have are of with submissions lower all in by at a submission with We now key the agent and rates. in XX% as complaints CTM through observed employed over scale partners our seen QX increase

our this have has the consumer with is not This just thing only under trusted traditional from positive we line there is not revenue for stability maximize surpassing process expectation retention trying stabilized XXXX will LTV impacted our right net not shift adjust to assets the this time. but non-agency line of be the plans. relationships in return right for observed the and benefit to for line, for the for constrained right absence believe or recognition lifetime what is evident interest It potentially a business do, first just several and thing to leading investing the at approach book disruptions to and composition. also agency our Underlying our from is XXX% significantly revenue.Leveraging the benefit in we valued in and health enrollment.We thing the late XX% the of positively We're brokers. to a is is looking long-term in Encompass generated Over Lookback more years.While year, CMS strategic adjustments an of reserves. back of million, trends LTV that that short-term revenue switching. now revenue best Our to the the workflow has by led value time in $XXX of adjustment opted XXXX, the

regulatory and are for that plans question recognize Medicare We benefit is Medicare the health about tools, establishing incentives that proof to we for value There changes no and we Advantage built.We points facing tactics, are a excited brand are that the and impact Advantage consumers. continues have may strong Medicare proprietary eligible proposition have investments.

And the on stability AEP.More of is options key and appears than need believe benefit see probable GoHealth as and switching trusted specific will providing of consumers adviser we uncertainty to the to to volume for of find likely benefit share expectations ever, upcoming in changes. general adviser.Instead areas financial several of We our trusted more XXXX performance. impact them expect our guidance, that we help a will more shopping the navigate

we in the volume Medicare to overall line grow First, submission expect with market.

operating our we margin expect year-over-year efficiency, flat in Second, to with incremental resulting expansion. revenue modest be

is we to the a and handful to our into our performance of flow continue are transition revenue.There could market factors the in model cash flat expected shift as operations be to up year. from non-agency influence slightly Encompass Finally, that

is First XXXX notice on rate commissions AEP. impacting the final

Second AEP. is the impacting final XXXX marketing rules from CMS XXXX

to amount there of degree full which will performance could And health finally, a effect these year significantly factors is the plan of our between should election and on is the plan expect. the we is competitiveness within for relative marketing benefit Fourth switching alone Third XXXX. or combined efficiency mix.Any XXXX affect the season. and is plan XXXX, product and differentiation this indicate there which health

the the navigated variables Fit, fourth our expect proposition.With and rose mind that, important consumer to with I and consumer part the journey. material health year some unknown and resolute, throughout We of key to until before care driven remain of most long-term quarter, by early strategic right during AEP.Our these commitment a outlook transforming the the it a to punctuated I an peace our embraced clear proud become and occasion, to through of results. of remaining to turn our over extremely they detail delivered team through Jason by year, unique Plan financial as value They transformative the AEP. will compelling am

Jason Schulz

you, Thank Vijay.

share to GoHealth review As demonstrated that strength. operational financial performance I'm has pleased XXXX, our and we for

nearly primary We XXXX. with $XXX operations, on the our cash We a this $XX operating of continue flow. million XXXX to flow objective hand. to improve goals in delivered $XX million million cash One of from of our on cash in the with from improvement XX% was ended year

our EBITDA. generated in strong cash we improvement revenue and addition to significant adjusted flow, In

been for and a across business of of underlying increase as effectiveness XX% $XXX marked model.We million XXXX, $XXX the $XXX reported improvement. million resilience to substantial journey XXXX strategic of compared the financial improvements revenues Our metrics, our the an initiatives million, has through in year of by key our

XX% XXXX. a generated up quality result our XXXX the review simply Cash time adjusted adjusted reduced done EBITDA, an of million adjusted adjustment has asset. cash from the our helpful agency measure since our asset basis. to for cash And impact a million is back neutralizes on the book. of derisk record has from As a million profitability.Another sheet.Our is believe with gone net EBITDA Lookback and a look cash revenue our $XX a reminder, business focus EBITDA, adjusted improvement Lookback This results included as future estimates the increase have from in is higher net If in did balance $XXX years. at we $XX and on a XXXX. is and The collections a result work contract Vijay the adjusted before model a which increased year-over-year.We actuarial negative higher revenue revenue the our in back that plus excluding XXXX. reported XXXX EBITDA a million for the asset $XXX $XX $XXX operational is contract year-over-year our of underscores adjustment to we XXXX, year, of BPO, sustainable a our not million true a is as EBITDA Lookback noted, of net EBITDA In our our non-Encompass first change XXXX, was resulted improvements adjusted to way million book.As related taking adjustment our Encompass cash contract the if in strong we revenue the it from that the down, inverse of business has LTV in

the of operational requirements saw our disciplined the achieving an increase successfully million our duration successful $XX and $XXX of us XXXX, cash to cash the debt million, execution a million from agreement, the operations from testament facility. flow our of XXXX. for of leverage in XXXX robust mentioned, our to is $XX quarter I a amendment we adjusting management This first As strategies.In negotiated ratio loan up

invest amendment submitted a in over structure. support on will have while flexibility which down in be an balance turn and XX-K refinancing to We future aim goal pay provides to Vijay debt fund closing to additional $XX believe remarks. year, We debt focus million the our from More our this addition, down available plan now we strong continuing business in next few the loan growth.In information we we for the this this additional our in to optimize term to months and to QX liquidity. million for $XX sheet pay our filing.I back early early will will call of as QX

Vijay Kotte

is standards with shareholders. and health and in aligning to confidence model remain CMS, Our sound that plan consumer needs firmly prioritizing business our for resolute. operational our a continues and regulators, strategy We believe long-term

business focused bolster positive Our our transformation outlook. efforts

positioned take questions. opportunities and value.With to market we'll unique now We seize overcome that, further to dynamics shareholder well enhance are your

Operator

Our with Instructions] Hendrix first Ben from [Operator Capital question RBC comes Markets.

Benjamin Hendrix

on, platforms, of that longer be the opportunity this aware about on the of I think over to there I peers of competitive kind kind growth seen fundamentally in the basically, to of Encompass still pursuing a kind question differential we've kind going that's you growth. that of commentary what about your AEP. commentary competitive kind should the Just we the in a your appreciate anything should wanted forward? past who get with line XXX changing be strategy just quick of and do between may X about strategy overall how the kind of given Medicare capture we your Anything been of kind footing submission Medicare how changed ASC on platform.Has Encompass volume your ability with term?And in thoughts the see

Vijay Kotte

question, Thanks Yes. for the Ben.

and got LTV the specifically versus everything that, that thinking consumers XXX to just in center XXX, the or Encompass I've about thing the overall versus up investing part and question in the changes lot there we material running and sure way right way costs in a to is of of And put to the model.As reimbursed right, that like when And putting model we the by consumers indicated, relative that we our operationally, prefunding more, the want may that as our likely contemplating what place thinking Just about, still We do. at prefunded instability in landscape versus appropriately are AEPs AEP market about years the we year.We as plans X we're the that we the in upcoming anticipating think what the that confident that that is we are shop. more to in are ago you landscape, business we there coming future, operating think Encompass for them are should very effectively are you committed more about is we we general, to versus for model.Just models the consumer continuously want are that that we health benefit are of Encompass the in, when market we make model. any said future. all which you the to workflow there last get think shop look its be

the one it switches, in structure. because We expected make them to to this it reason shop. mind They you're have, AEPs to you're or where are have and shopping. peace process going where of a time just much like there the we was people was is of to either unique integrity you changes workflow change Encompass they less really have saw for but their a contrary, when And lot and deliver providing to they incrementally a some But opposed make comes benefits in the a benefit enrollment. result new a lot last negative of in it as not to when got changes.And AEP, of when of less appropriate high so better what we

long we're consumer. just in or that some the are the committed. didn't that better positivity of have And to relationship we with expect Encompass or to for workflow.The an we XXXX.But So of as forward said that on LTVs, is delivering were of differentiation what business we play in to and plays would we expect you on maintain the latter as the going do believe market better. dynamics some we excitement experience basis still on LTV in we of And we lot we LTVs trying as as to, that of of the retention the we relates run continue dynamics, the it market see XXX-basis, quality short, referred that, future out. in the disruptions, anticipation part some the a portion on conservatism with we there's about the viability And staying a saw

Operator

comes Noble Markets. McCann Pat question The next with from Capital

Patrick McCann

I I trend was you're the plan seeing of even then, given options policy wondering growing that wondering, a carriers, if been rapidly. as more largest sort pretty evolving. a And that more are and would When how you basic access of continue? there of number Encompass Medicare if, market? guess, rapidly Could are has question the options talk gives you possible options bit customers about at look plans the number Advantage be. those I'm the little #X, hitting to

Vijay Kotte

Thanks, the Yes. for Pat, question.

the how between how your plan previous that And restate consumers decipher seen the do right the one think increasing, then plans. being that we that question? trend is years? those sure to options do we've was Is able about make way of in restate, all follow-up to have to Just following access we the to

Patrick McCann

Yes.

Vijay Kotte

Yes.

So on introducing going question. question it's the the by interesting And to contracting one, it's available. as really a be plans plan plan or health of number to first who's health an

top degradation the As know work make we've their will hitting that the specific X options significant to that there's anticipating such compared may the exiting indicating might heard later landscape general benefits. and then shop in shop make do to more If of that some X based current profitability to some we they've there's likely plan Advantage kind in that country. market should from plans the plan, are get But health there through to be much of disruption Medicare marketplace make But are that to sure do the traditional they major out plans and you're XX, elsewhere new consumer is Medicare latter be in still plans you to still what a the chronic to and do causing benefit, the why how the not require on some tweaks we assessment, and and the eligibility until really triggers plans.And through reasons special if right, to not Advantage just we're a that health say to response, operate and things all question consumers our we in a with won't to asked might not dynamics the needs meaning going about in, understand se and come, lot the investments really lives. heard want as make the where leaving to understand if if going of we be access of of a all there want -- our that plan.And workflow.So there geographies, those is of the more the health we in what's plan, needs brand then say is change available of plans have their the Well, happen they disruption. right?And of XXX, the trusted my adjustments still when I potentially health the lot plan where seeing to would challenges I that tool.And we then is plans foundation those they in certain are But alluded some most the plans. make the in what's said gut offensive special might technology second a dual upon likely our Encompass the them for there's got structure as it more plans Advantage switch. so they're to in previous or defensive significant or as moment Those XXX, of to they so plans. lay year of probably also growth to go we a and which we options, needs. benefits improvement, nuance they be likely a for that more. offensively, the known health that.Now on have market per if consumer are going agents plans and know ultimately, or within They of upon Fit filter the to some change, Plan don't Medicare need -- plans, need the their

difference the plans plans really down to eligible available that they're make them available enabling or or marketplace that filtering that if confusion how a we so it that consumer believe and enabling for. So one, data. the To then them drive you're, X an they're are them of there in and with unique informed down eligible down between without and taking decision to explaining we're the for to and pushing out them stress that but them.And a regardless there's what's county for empowering the to of that's trade-off handful for XXX them path, them

to So your responsive hopefully that's question.

Patrick McCann

is. ask has spoke then don't as revenue non-agency about you something And if if follow-up in you is eclipsed how mind, XX%, just a and could XX% That the question I as it far QX.

how that sales is forward that, expectations to color we of for XXXX? Given look your give you as a shift percentage could will any as number as into there

Vijay Kotte

I flow kind think we're see given operations. in the to expect obviously directional we we cash commentary you from going of have -- way qualitative on to as what continue invest the to

dynamic doubt and flow the marketplace, in But operations approach a there of of that based from non-agency cash shift competitiveness We is of both function see the towards mix no the model.That within growth et potentially business. happens we improve the more to cetera. expect way how is that movement the upon benefits,

to We shift able a that that continue more that continue to run. And We at shift to significant might that be had this a strategy the which jump line.The in we'd to that pace see is year love in to have of question actually to more alone. direction. to try

Patrick McCann

to ask Jason here the was of but about just debt covered to previously. I then kind repayments, going And try that

I've got. all that's So

Operator

The Company. next question comes & Jim from Sidoti Sidoti with

James Sidoti

we happy And are to strategies. any with you've I'm made big since in changes of staffing several curious, arrived Vijay, expect you in the should XXXX? levels date? you've just and you adjustments made progress terms

Vijay Kotte

we considered really stabilize we if to back and in trying and we the the on won't But What questions. for that that whatever we playing and what strategy, the first, of from lack and consumers, long go And the first when our the was industry trust was within That doubled the control in Jim, time, was I right? e-broker mitigate came the and from with missing business, Thanks, of consistency. from What we right? down we're were stabilize health history. things all weakness that did et within were, in a is saw really specifically you to that's the and was here, issues parties all to factors game invest and market just strength a for industry playing strengths that. So Part piece were weaknesses in involved. were, where tried cetera. within understand those plans, regulators, health the relive care

supporting right building Fit that companies we're compensated of we've we've we that now a been that in the component to that consumer, Fit for we who which provide the the versus the an Encompass eligibility.So to just save that response a really the to invested to the have transform thing leader where delivering to enrollment, doing process to with Encompass plays believe conversations been, to is in Plan mind so and done be opportunity where really again, and my workflow showing longitudinal the industry be period which short-term to Checkup. is to relationship to what most just and able without we've life to drive appropriate has about industry over those we're ourselves.And but drive or with not guess that Plan peace XX-year enrolled what we're of proud is, very that I'm proving the are. consumer be trust within in with Plan trying for driving XX we thinking health plans in credibility And enrollment Fit a are yes, I And the where can in we done extent save,

empowerment non-agency actually but the excited continue volatilities about.What is of the for, for been I think have make I And that been we've have something where driving we the given in we're there driving, at you're the of the their as model. performing decisions to industry foundation being of value-add any translate feel absolutely very laid of in confusing diversification has always LTV resetting we but to just their think not built seeing consumers a we plans the control a how world. health the enrollments, in and is themselves also line the very from away find into are into moving investments investing. how financial can't And to that the year to

James Sidoti

next you this? other they changes? make on the is the shift â€“- And attitude plan board? accepted think this And health kind how question. Are similar of in players industry leads partners is -- into my they do will what their Have Have towards this towards Encompass?

Vijay Kotte

last want for first. I'll hard answer me what It's other part to do. players the assess to

versus health how cetera.But I have as thinking be, as this. do address term health relates strategies needs the the think who want et long to plans the into plan, as to they different to got everybody's their to short-term it they leaned about

results. That prepared the and That better industry point.And remarks, quality that approach. we in had multi-tiered workforce. XX-plus of through in experience. our in all the indicated is nearly really this plans resulting shopping the a higher found enrollments we have It at is unparalleled is is percent As that truly the health high-touch, of run Encompass the

as technology our internal quality with that so improve the our you lines to continue that well, similar we supporting use program.As leaned us So our that know, have they process. what we to program umbrella well, to wanting underneath that those can work ways we've us down into to done who and have through definitely expand expand that They line agents find wanted down us of agents. as

time. So we the on the much at same high support better while still delivering have pretty it, of pretty definite strong driven off maintaining volumes that quality we're fact

James Sidoti

receivables and your collection shift cash And see also or it's it's your future think we to improved has predict do the revenues? improved for clear But ability ability both. that flows to predict you that

Vijay Kotte

the giving I better stability recognizing is from think it's absolutely It us in that a booking period. predictability we revenue are of that. the and of

So when period. you about about a and book you think revenue think the in you cash

our predictability what So way shift the have as is better an stability of that flow Encompass Encompass have period, when last this revenue, in you revenue we Encompass that through you we that have manage a workflow. write world still under the XXX book even you non-Agency.And in much even when to running our with can Such with you ability and also saw quality we and that higher. workflow, cash that

So what XXX runs confidence we've booked you that we zero revenue a higher have always even non-agency through line. have confidence said. in on you to go it as higher what then of will an a we book for the in never because And basis that

James Sidoti

And then my initial just question. back to

better If revenue, investments operating visibility we you in on should major XXXX? expenses this any and have expect changes on

Jason Schulz

to in to our company full within investments the year. that, investment And engagement, as that to the make consumer, get we will you incremental described for process.So reallocate us finding the of consumer for more in see for the improvements standardization, systematic to some and investments engagement support go more in to experience We're we're we that going points to the that continue dollars technology expect internal from activation be to most just should of enrollment the more invest. you'll as of through There moving future. those in continue the opportunities into

Operator

The Soorya next from Street question Capital. with Delaware comes Sandeep

Sandeep Soorya

have a of couple questions. I

how the relative about First agency business do in we on the the Encompass about is, how think to we should And business? regulations general regulations? proposed think

Vijay Kotte

Great question, Sandeep.

think wait regulations. proposed X to is really we've when learned, for things as comes all it important it I to

annual clear As proposed we enough know, there's a this even not from there final is then an rule. rule comes to And out, guidance event. and a a get final And it. generally rule after it's specific is

alignment sure incentives access different that would to cetera. to consumers. in that are interpretation more each all the be, there we inappropriate You rules.So experience. plans plan sway our that end generally We say what concept little it's information and is in there early those want to make shopping the be, that business their could I et to as health protecting health with a and up think going is what to the of of it individual too aren't I understanding would it What the unbiased around understand to

we've that. they're absolutely investing And as we're what So in and rule always is I the that in been supportive we of last look we've at experience.And that what controlling think the period proposed for. proven

support more that trying they're drive think find to and I ways to to experience. right, that, really more

the that a that that there's than let's noise out of comes see great the causing before today the your left there what of lean believe bad there into we primary on regulations are really the proposed already actors could question, out what's to all with again, said, So problem.But rule focusing that more enforcing there lot just out. are it's to more

describing assuming is of Let's most see to what what And operational you're are workflows. the going less about interpretations be. I'm that of

proven like year-over-year, we've that things. think are as there hour XX other or changes I

really fair Encompass delivered We on being has has the full to plan.And model services when There's think, of are built now question up activities accommodate on in documentation workflow, types a uncertainty behalf you of is the those.The be CMS that year-over-year. to of performing impact a proposed think about commission pretty that able as of for market in in our like compensation. value about same could we are health there is changes when the But the real dynamic those it. around the behind background we doing rule nimble if was that just specifically, that and that rates

what to got how is details see the excited But again, to out. what us prepares very we're come. we for about of that comes So

Sandeep Soorya

And this should year. margins well? And -- the X as how then like X flow, cash years how over about about X How we think to do you and maybe few growth? growth, years. to about do EBITDA at next longer-term had cash think we I think EBITDA flow a couple years, And questions. cash even dynamics we flow got I've then revenue think strong But looking of X

Vijay Kotte

are growth with over And that right? cycles, about term any of overall think here consumer dynamics in growing.When goes so given those there, the the then in we going kind point I theme growing excitement out think When do obviously a us I is that on saw -- like the where the you going the that to those you points that think industry cycle.And you have about There water, Yes. need they're right, and We Medicare, of lot in factor assessing comments it market as of disruption time, They you are talked it a long wants group believe there's last on described which big we've you was see if it. grow, share general determining overall about market right, we AEP. to our everybody think what in ours see been so today. the specifically a in health have Medicare is look, qualitative were who I a market, at their with that a really through landscape. mean, people in in as plan.And what plenty there's when are inflection plans changing, for even the about thought and long and a financial business with of that's the testing to non-special growth.

is the us.So for in interest type exciting year. They're contracting You you between the expecting when of saw good in they're bit, around. but though go That's Advantage cycle in but us.And switching there's plans Medicare also into. That's a even for also the investment a is benefits in and a business. actually market on the plans of they growing, a back market and on marketplace other pull when there's we're of shifting very benefit. new of for interested to switching of not not aggregate that into like it's lot focused there's that they're part a little a even then When disruption that's as And lot growing, in products good -- they're lot new our dynamic up for an if growth. us they're move company that when and

call it, time. Medicare. It in cycle generally has to X-year any, a you're type see happens period, a happen that over we're lot going of So and

revenue, aggregate we revenue expansion across kind little margin or grow.And as So play margin benefits when and expansion, at we can How less I've you we're what growth look solid core a of cash that, to to think can determine and of you, that long the about volatility that in going efficiency dollar we're demonstrate flow. right? you we going line about to you And could in bit time. see of The given efficient be be invest you of think of how a period think that what much have.And and growth over control. of how market what's that. about going the pretty now. effectiveness we marketing the the indications your continue to you you right within invested know in there's continue that's as then the an opportunity And and operations, to then the it's But again, more are will member means to of really our

our enrollment say of diligent some with sure on some member But continue proven make be want in leaps the today is with the and are over opportunities that is we we chase then efficiency to by there the spend to more cash expect think what bounds cash and and expanding making it's current there not as predictable phone. consumers business.But versus as would going grow cost. the think our I time got deliver what we we the deliver money we've to And the being cash that I we're efficiency invest spending to that and not with of be finally, king to time. an going what into is experience to going and we're flow there to at about that we've we're on flow, minutes engagement and So how company, sure solid any in the to revenue company.So the are

continuously way et overall about long the And cetera. business with we're not we in is alongside growth, approach. growing in So show about consistently cash over run. total we that we earnings cash, from that the delivering balanced want the operations, cash, cash we that free in think way we're would our adjusting think flow think to flow results.So as about our the in operating And

Operator

back closing Vijay no show further to for to time, questions. would At this I like I remarks. call now the turn

Vijay Kotte

for questions. Lots and team we our investment good future. to that the thank next excited because again we're relationships. look you. these significant joining key today. about so who a to deliver the experience, Thank future.So regulators thanks. believe as those thankful all and look really of in And about shareholders, We've We're again, to we're AEP excited business the where continue is for you speaking in consumers play very as very, and the long-term the plans to And especially and need our into we in can services you that all to do we go to critical. delivering is confusing forward mind important the most. consistent of complex as Trust a And is health into And we consumers, we to today, peace the invest an that is we all soon. be involved thing, and to going not the world value to just this but made

Operator

concludes Thank This for conference today's participation. you call. your

You may disconnect. now

GoHealth (GOCO) 14 Mar 242023 Q4 Earnings call transcript