Company Quick10K Filing
Ehealth
Price75.05 EPS0
Shares23 P/E426
MCap1,763 P/FCF-120
Net Debt-91 EBIT-14
TEV1,672 TEV/EBIT-121
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-08-06
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10-K 2019-12-31 Filed 2020-03-02
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8-K 2020-08-14 Officers
8-K 2020-07-23 Earnings, Exhibits
8-K 2020-06-09
8-K 2020-06-04
8-K 2020-04-23
8-K 2020-03-03
8-K 2020-02-20
8-K 2020-02-20
8-K 2020-01-29
8-K 2020-01-23
8-K 2019-12-20
8-K 2019-11-19
8-K 2019-10-24
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8-K 2018-05-31
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8-K 2018-03-29
8-K 2018-03-01
8-K 2018-01-22
8-K 2018-01-16

EHTH 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements
Note 1 - Summary of Business and Significant Accounting Policies
Note 2 - Revenue
Note 3 - Supplemental Financial Statement Information
Note 4 - Fair Value Measurements
Note 5 - Equity
Note 6 - Net Income (Loss) per Share
Note 7 - Commitments and Contingencies
Note 8 - Segment and Geographic Information
Note 9 - Leases
Note 10 - Debt
Note 11 - Income Taxes
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 6. Exhibits
EX-31.1 a2020q2ex311.htm
EX-31.2 a2020q2ex312.htm
EX-32.1 a2020q2ex321.htm
EX-32.2 a2020q2ex322.htm

Ehealth Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
0.60.50.40.20.10.02012201420172020
Assets, Equity
0.20.10.10.0-0.0-0.12012201420172020
Rev, G Profit, Net Income
0.20.10.10.0-0.0-0.12012201420172020
Ops, Inv, Fin

ehth-20200630
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
OR
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to

Commission File Number: 001-33071
_____________________________________________
EHEALTH, INC.
(Exact name of registrant as specified in its charter)
_____________________________________________

Delaware
56-2357876
(State or other jurisdiction of incorporation or organization)(I.R.S Employer Identification No)

2625 AUGUSTINE DRIVE, SECOND FLOOR
SANTA CLARA, CA 95054
 (Address of principal executive offices)

(650) 584-2700
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.001 per shareEHTHThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulations S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
Accelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No
The number of shares of the registrant’s common stock, par value $0.001 per share, outstanding as of July 31, 2020 was 25,749,916 shares.




EHEALTH, INC.
FORM 10-Q

TABLE OF CONTENTS

PART I FINANCIAL INFORMATIONPAGE
Item 1.
Item 2.
Item 3.
Item 4.
PART II 
OTHER INFORMATION
Item 1.
Item 1A.
Item 6.

1




PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
EHEALTH, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
 June 30, 2020*December 31, 2019
Assets(Unaudited)
Current assets:
Cash and cash equivalents$76,842  $23,466  
Short-term marketable securities123,158    
Accounts receivable2,724  2,332  
Contract assets – commissions receivable – current141,774  174,526  
Prepaid expenses and other current assets10,635  7,822  
Total current assets355,133  208,146  
Contract assets – commissions receivable – non-current441,012  414,696  
Property and equipment, net13,751  10,518  
Long-term marketable securities11,361    
Operating lease right-of-use assets47,497  36,621  
Restricted cash3,354  3,354  
Other assets21,865  18,004  
Intangible assets, net9,142  10,062  
Goodwill40,233  40,233  
Total assets$943,348  $741,634  
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable$7,285  $24,554  
Accrued compensation and benefits21,795  29,578  
Accrued marketing expenses4,712  12,041  
Earnout liability – current  37,273  
Lease liabilities – current4,922  4,759  
Deferred revenue97  2,570  
Other current liabilities3,909  2,210  
Total current liabilities42,720  112,985  
Deferred income taxes – non-current59,244  64,130  
Lease liabilities – non-current45,784  34,305  
Other non-current liabilities3,545  3,050  
Stockholders’ equity:
Common stock37  35  
Additional paid-in capital720,976  455,159  
Treasury stock, at cost(199,998) (199,998) 
Retained earnings270,787  271,852  
Accumulated other comprehensive income253  116  
Total stockholders’ equity792,055  527,164  
Total liabilities and stockholders’ equity$943,348  $741,634  
_____________
* Reflects the impact from the adoption of ASC 326 on January 1, 2020. See Note 1Summary of Business and Significant Accounting Policies for details.

The accompanying notes are an integral part of these condensed consolidated financial statements.
2




EHEALTH, INC. 
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(in thousands, except per share amounts, unaudited)
Three Months Ended June 30, Six Months Ended June 30,
2020201920202019
Revenue:  
Commission$80,773  $60,606  $180,442  $124,833  
Other7,993  5,161  14,732  9,707  
Total revenue88,766  65,767  195,174  134,540  
Operating costs and expenses:
Cost of revenue540  449  1,678  372  
Marketing and advertising32,873  23,104  70,637  47,045  
Customer care and enrollment27,148  21,479  57,683  41,423  
Technology and content13,373  10,437  29,113  19,454  
General and administrative20,713  14,862  40,366  26,140  
Amortization of intangible assets373  547  920  1,094  
Change in fair value of earnout liability  7,200    20,506  
Total operating costs and expenses95,020  78,078  200,397  156,034  
Loss from operations(6,254) (12,311) (5,223) (21,494) 
Other income, net452  699  825  1,256  
Loss before benefit from income taxes(5,802) (11,612) (4,398) (20,238) 
Benefit from income taxes(2,432) (5,858) (4,480) (9,325) 
Net income (loss)$(3,370) $(5,754) $82  $(10,913) 
 
Net income (loss) per share:
Basic and diluted$(0.13) $(0.25) $0.00  $(0.48) 
Weighted-average number of shares used in per share amounts:
Basic26,358  23,091  25,539  22,508  
Diluted26,358  23,091  26,758  22,508  
Comprehensive income:
Net income (loss)$(3,370) $(5,754) $82  $(10,913) 
Unrealized holding gain for available for sales debt securities, net of tax143    168    
Foreign currency translation adjustment  (25) (31) 4  
Comprehensive income (loss)$(3,227) $(5,779) $219  $(10,909) 

The accompanying notes are an integral part of these condensed consolidated financial statements.
3




EHEALTH, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(in thousands, unaudited)

Three Months Ended June 30, 2020
 Common StockAdditional Paid-in
Capital
Treasury StockRetained EarningsAccumulated Other Comprehensive IncomeTotal Stockholders’ Equity
 SharesAmountSharesAmount
Balance as of March 31, 202037,258  $37  $717,380  (11,649) $(199,998) $274,157  $110  $791,686  
Issuance of common stock in connection with equity incentive plans115  —  223  —  —  —  —  223  
Repurchase of shares to satisfy employee tax withholding obligations—  (3,785) (49) —  —  —  (3,785) 
Stock-based compensation—  —  7,158  —  —  —  —  7,158  
Other comprehensive income, net of tax—  —  —  —  —  —  143  143  
Net loss—  —  —  —  —  (3,370) —  (3,370) 
Balance as of June 30, 202037,373  $37  $720,976  (11,698) $(199,998) $270,787  $253  $792,055  

Three Months Ended June 30, 2019
 Common StockAdditional Paid-in
Capital
Treasury StockRetained EarningsAccumulated Other Comprehensive IncomeTotal Stockholders’ Equity
 SharesAmountSharesAmount
Balance as of March 31, 201934,090  $34  $445,652  (11,450) $(199,998) $199,806  $156  $445,650  
Issuance of common stock in connection with equity incentive plans177  —  888  —  —  —  888  
Repurchase of shares to satisfy employee tax withholding obligations—  —  (2,172) (32) —  —  (2,172) 
Stock-based compensation—  —  4,678  —  —  —  4,678  
Foreign currency translation adjustment, net of taxes—  —  —  —  —  (25) (25) 
Net loss—  —  —  —  —  (5,754) —  (5,754) 
Balance as of June 30, 201934,267  $34  $449,046  (11,482) $(199,998) $194,052  $131  $443,265  

The accompanying notes are an integral part of these condensed consolidated financial statements.
4




EHEALTH, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(in thousands, unaudited)

Six Months Ended June 30, 2020
 Common StockAdditional Paid-in
Capital
Treasury StockRetained EarningsAccumulated Other Comprehensive IncomeTotal Stockholders’ Equity
 SharesAmountSharesAmount
Balance as of December 31, 201934,752  $35  $455,159  (11,616) $(199,998) $271,852  $116  $527,164  
Cumulative effect from the adoption of ASU 2016-13—  —  —  —  —  (1,147) —  (1,147) 
Issuance of common stock in connection with equity incentive plans256  —  1,314  —  —  —  —  1,314  
Repurchase of shares to satisfy employee tax withholding obligations—  —  (8,160) (82) —  —  —  (8,160) 
Shares issued in equity offering2,070  2  228,022  —  —  —  —  228,024  
Settlement of earnout liability295  —  28,521  —  —  —  —  28,521  
Stock-based compensation—  —  16,120  —  —  —  —  16,120  
Other comprehensive income, net of tax—  —  —  —  —  —  137  137  
Net income—  —  —  —  —  82  —  82  
Balance as of June 30, 202037,373  $37  $720,976  (11,698) $(199,998) $270,787  $253  $792,055  

Six Months Ended June 30, 2019
 Common StockAdditional Paid-in
Capital
Treasury StockRetained EarningsAccumulated Other Comprehensive IncomeTotal Stockholders’ Equity
 SharesAmountSharesAmount
Balance as of December 31, 201830,863  $31  $298,024  (11,426) $(199,998) $204,965  $127  $303,149  
Issuance of common stock in connection with equity incentive plans349  —  3,255  —  —  —  —  3,255  
Repurchase of shares to satisfy employee tax withholding obligations—  —  (3,452) (56) —  —  —  (3,452) 
Shares issued in equity offering2,760  3  126,048  —  —  —  —  126,051  
Settlement of earnout liability295  —  17,264  —  —  —  —  17,264  
Stock-based compensation—  —  7,907  —  —  —  —  7,907  
Foreign currency translation adjustment, net of taxes—  —  —  —  —  —  4  4  
Net loss—  —  —  —  —  (10,913)