Eheatlh | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 33.57 M

Revenue: As of FY2026 Q2, the actual value is USD 33.57 M, beating the estimate of USD 33.28 M.

EPS: As of FY2026 Q2, the actual value is USD -1.18.

EBIT: As of FY2026 Q2, the actual value is USD -26.63 M.

Q2 2026 Key Financial Results

Operational Metrics

eHealth, Inc. reported a GAAP Net Income (Loss) of - $23.6 million for Q2 2026, compared to - $17.4 million in Q2 2025. Adjusted EBITDA was - $21.8 million in Q2 2026, compared to - $14.1 million in Q2 2025. Total Operating Costs and Expenses decreased 27% to $61.0 million in Q2 2026, down from $83.8 million in the prior year. Combined technology and content, and general and administrative expenses, decreased 18% year-over-year in Q2 2026. Medicare Variable Marketing & Advertising Expense declined 58% year-over-year to $5.8 million in Q2 2026 from $13.8 million in Q2 2025. The company’s Net Adjustment Revenue for Q2 2026 was $7.6 million, compared to $17.8 million in the prior year. Ancillary Product Cross-Sell Rates doubled in Q2 2026 compared to the prior year. Total Approved Members for Q2 2026 were 31,229, a -36% change from 48,936 in the prior year. Estimated Total Membership as of June 30, 2026, was 1,039,827, a -9% change from 1,145,603. Commissions Receivable stood at $1.0 billion as of June 30, 2026, representing 10% growth from June 30, 2025.

Cash Flow

Operating Cash Flow for Q2 2026 was - $5.0 million, an improvement of $36.2 million year-over-year compared to - $41.2 million in Q2 2025. Cash, Cash Equivalents & Short-Term Marketable Securities totaled $101.0 million as of June 30, 2026.

Six Months Ended June 30, 2026 Key Financial Results

Operational Metrics

For the six months ended June 30, 2026, Net Loss was - $28.309 million, an -83% change from - $15.448 million in the prior year. Adjusted EBITDA was - $12.766 million, a -688% change from - $1.621 million in the prior year.

Cash Flow

Operating Cash Flow for the six months ended June 30, 2026, was $30.810 million, compared to $35.917 million in the prior year.

Segment Performance (Three Months Ended June 30, 2026 vs 2025)

Segment Revenue

• Medicare Segment: Total Revenue was $31,799 thousand, a -45% change from $58,059 thousand. Segment Gross Profit was $5,964 thousand, a -69% change from $19,145 thousand. The decline in Medicare segment gross profit included $10.0 million attributed to lower tail revenue. Total Medicare Commission Revenue was $26,313 thousand, a -48% change from $50,502 thousand. This included Medicare Advantage commission revenue of $27,862 thousand (-27% change), Medicare Supplement commission revenue of $2,381 thousand (-82% change), and Medicare Part D commission revenue of - $3,930 thousand (-275% change). Medicare Approved Members were 18,019, a -46% change. Medicare Estimated Membership was 779,075, a -10% change.
• Employer and Individual (E&I) Segment: Total Revenue was $1,767 thousand, a -35% change from $2,723 thousand. Segment Gross Profit (Loss) was - $840 thousand, a -227% change from - $257 thousand. Total Individual and Family Commission Revenue was - $1,497 thousand, a 79% change from - $836 thousand. Individual and Family Approved Members were 1,487, a -28% change. Individual and Family Estimated Membership was 49,813, a -25% change.
• Consolidated Total Segment Gross Profit: $5,124 thousand, a -73% change from $18,888 thousand.

Other Commission Revenue

Ancillary Commission Revenue was $2,377 thousand, a 6% change from $2,249 thousand. Ancillary Approved Members were 10,737, a -13% change. Ancillary Estimated Membership was 177,763, a 2% change. Small Business Commission Revenue was $2,242 thousand, a -2% change from $2,297 thousand. Small Business Approved Members were 986, an 18% change. Small Business Estimated Membership was 33,176, a -17% change.

Outlook / Guidance

eHealth, Inc. reiterated its full-year 2026 guidance, expecting total revenue between $405.0 million and $445.0 million, and GAAP net income between $8.0 million and $25.0 million. Adjusted EBITDA is anticipated to be in the range of $55.0 million to $75.0 million, with operating cash flow projected between - $10.0 million and $12.0 million. The company is on track to achieve over $60.0 million in annual variable spend reductions and approximately $30.0 million in annual fixed cost savings, and expects to return to growth in 2027.