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EHTH

eHealth, Inc.

EHTH

eHealth, Inc. • NASDAQ
$4.08 ▲ 0.25% (+0.01)
Market Cap $125.50 M
52w High $11.36
52w Low $3.18
Dividend Yield 0%
P/E 25.5
Volume 48.88K
Outstanding Shares 30.76M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $53.869M ▼ $95.394M ▲ $-31.691M ▼ -58.83% ▼ $-1.46 ▼ $-37.406M ▼
Q2-2025 $60.782M ▼ $83.826M ▼ $-17.398M ▼ -28.624% ▼ $-0.98 ▼ $-18.233M ▼
Q1-2025 $113.119M ▼ $108.321M ▼ $1.95M ▼ 1.724% ▼ $-0.33 ▼ $10.308M ▼
Q4-2024 $315.181M ▲ $202.541M ▲ $97.482M ▲ 30.929% ▲ $2.88 ▲ $116.942M ▲
Q3-2024 $58.409M $101.608M $-42.473M -72.717% $-1.83 $-37.673M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $75.301M ▼ $1.047B ▼ $162.946M ▼ $884.469M ▼
Q2-2025 $105.2M ▼ $1.08B ▼ $165.878M ▼ $913.833M ▼
Q1-2025 $155.587M ▲ $1.137B ▼ $207.554M ▼ $929.608M ▲
Q4-2024 $82.24M ▼ $1.155B ▲ $566.997M ▲ $588.428M ▼
Q3-2024 $117.782M $1.002B $175.52M $826.471M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-31.691M ▼ $-25.313M ▲ $23.695M ▲ $-1.276M ▲ $-2.831M ▲ $-28.936M ▲
Q2-2025 $-17.398M ▼ $-41.204M ▼ $-10.119M ▼ $-3.844M ▼ $-55.172M ▼ $-47.047M ▼
Q1-2025 $1.95M ▼ $77.121M ▲ $5.472M ▼ $-699K ▲ $81.895M ▲ $77.121M ▲
Q4-2024 $97.482M ▲ $-27.662M ▲ $7.992M ▲ $-4.983M ▼ $-24.835M ▲ $-30.985M ▲
Q3-2024 $-42.473M $-29.283M $-32.678M $-450K $-62.312M $-33.472M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Ancillaries
Ancillaries
 $10.00M ▲$10.00M ▲$0 ▼$0 ▲
Commission
Commission
 $330.00M ▲$100.00M ▼$50.00M ▼$50.00M ▲
Commission Bonus
Commission Bonus
 $0 ▲$0 ▲$0 ▲$0 ▲
Commission Members Approved In Prior Periods
Commission Members Approved In Prior Periods
 $0 ▲$0 ▲$20.00M ▲$10.00M ▼
Individual and Family
Individual and Family
 $0 ▲$0 ▲$0 ▲$0 ▲
Medicare
Medicare
 $310.00M ▲$90.00M ▼$50.00M ▼$40.00M ▼
Product and Service Other
Product and Service Other
 $50.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲
Small Business
Small Business
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been choppy over the last few years, falling from earlier peaks and then starting to recover more recently. The company enjoys very strong gross margins, which means its core marketplace and service model are high value once customers are on the platform. The challenge has been high operating costs, especially sales, marketing, and service, which pushed the business into several years of losses. More recently, operating results have moved closer to break-even, with a small profit showing up again, suggesting early signs of a turnaround. Earnings per share, however, have been very volatile and still reflect a business that is sensitive to changes in demand, marketing efficiency, and commission economics.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid and fairly stable over the past five years. Total assets have stayed in a similar range, suggesting no aggressive expansion or major shrinkage. Debt levels are modest compared with overall assets and equity, indicating the company is not heavily leveraged and has some financial flexibility. Equity makes up the bulk of the capital structure, which acts as a cushion against business volatility. Cash on hand moves around but is not especially large, so while the company appears soundly capitalized, it does not have an unlimited runway if cash burn were to worsen.

Cash Flow

Cash Flow Cash generation is the weakest part of the story. Operating cash flow has been negative every year shown, although the size of the outflows has generally improved compared with the worst period. Free cash flow is also consistently negative, meaning the business has not yet been self-funding and has relied on its cash balance and other financing to support operations. On the positive side, capital spending is relatively light, so most cash use is tied to working capital and operating performance, which can improve with better execution. Still, until the company shows sustained positive operating cash flow, its financial profile remains somewhat fragile.

Competitive Edge

Competitive Edge eHealth operates in a focused niche as an online health insurance marketplace with particular strength in Medicare-related products. Its long operating history, recognizable brand, and role as an early pioneer in online health insurance give it credibility with both consumers and insurers. The platform is carrier‑agnostic, offering plans from a very broad set of insurers, which supports consumer trust and gives the company bargaining power. A large data footprint and a hybrid model that combines digital tools with licensed agents provide practical differentiation. That said, the broader market is competitive, with other online brokers, traditional agents, and insurers’ own direct channels all vying for the same customers, and the business is exposed to shifts in health policy and commission structures.

Innovation and R&D

Innovation and R&D Innovation is a clear focus. The company has built a proprietary marketplace and is layering on AI, analytics, and omnichannel tools to simplify plan selection and enrollment. Its AI voice agent and recommendation engines aim to reduce call‑center costs, speed up enrollment, and match customers to better‑fit plans, especially in the complex Medicare space. The firm also invests in digital tools and retention programs to keep members engaged and coming back during renewal seasons. These initiatives could enhance efficiency and customer lifetime value, but they also require sustained spending and carry execution risk—particularly in a regulated industry where product rules and marketing standards can change.

Summary

Overall, eHealth looks like a business with a strong strategic position in a specialized corner of the insurance market but with a financial profile still in transition. The income statement shows movement from meaningful losses toward modest profitability, while the balance sheet remains reasonably sturdy with limited leverage. However, persistent negative cash flow underlines that the turnaround is not yet complete. Its competitive edge is built on technology, a broad carrier network, and a hybrid human‑digital service model, supported by ongoing investment in AI and data. Future performance will hinge on whether these innovations can translate into consistently profitable growth and positive cash generation amid competitive and regulatory pressures.

NEWS

November 12, 2025 · 9:00 AM UTC

eHealth Advances its AI Strategy with Expanded Voice Agent Capabilities

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November 6, 2025 · 9:00 AM UTC

Health Insurance Open Enrollment: Most Americans are Satisfied with Coverage, But 73% Delay Care Due to Costs

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November 5, 2025 · 4:15 PM UTC

eHealth, Inc. Announces Third Quarter 2025 Results

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October 30, 2025 · 4:15 PM UTC

eHealth, Inc. to Hold Third Quarter 2025 Earnings Call on November 5 at 5:00 p.m. Eastern Time

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October 7, 2025 · 4:30 PM UTC

eHealth Announces Extension of Blue Torch Term Loan

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