Benzinga | Jul 29, 2021 05:09PM EDT

eHealth Sees FY21 Adj. EPS $2.77-$3.26 vs $2.89 Est., Sales $660M-$700M vs $689.52M Est.

2021 Guidance

Based on information available as of July 29, 2021, we are reaffirming guidance for the full year ending December 31, 2021 previously provided on April 29, 2021 other than GAAP net income per diluted share, segment revenue and segment profit as detailed below.Our guidance for GAAP net income per diluted share was adjusted to reflect the impact from the convertible preferred stock issued on April 30, 2021 upon the closing of the private placement with H.I.G. Capital. We are also updating our guidance for revenue and profit for our Medicare segment and our Individual, Family and Small Business segment to increase revenue and profit ranges for our Individual, Family and Small Business segment and applying a matching reduction to our revenue and profit ranges for our Medicare segment. This update reflects the year-to-date net adjustment revenue changes relative to our expectations in both segments and the expected impact from our investments in customer engagement and enrollment quality initiatives. These expectations are forward-looking statements and we assume no obligation to update these statements. Actual results may be materially different and are affected by the risk factors and uncertainties identified in this press release and in eHealth's annual and quarterly reports filed with the Securities and Exchange Commission.

The following guidance is for the full year ending December 31, 2021:

*Total revenue is expected to be in the range of $660.0 million to $700.0 million.

*GAAP net income is expected to be in the range of $42.0 million to $57.0 million.

*Adjusted EBITDA(1)(2) is expected to be in the range of $110.0 million to $125.0 million.

*Cash used in operations is expected to be in the range of $85.0 million to $95.0 million, and cash used for capital expenditures is expected to be in the range of $24.0 million to $27.0 million.

*Non-GAAP net income per diluted share(1) is expected to be in the range of $2.77 to $3.26 per share.

*Revenue from the Medicare segment is expected to be in the range of $601.0 million to $639.0 million compared to our previous guidance of $621.0 million to $659.0 million. Revenue from the Individual, Family and Small Business segment is expected to be in the range of $59.0 million to $61.0 million compared to our previous guidance of $39.0 million to $41.0 million.

*Medicare segment profit(3) is expected to be in the range of $130.0 million to $146.0 million compared to our previous guidance of $147.0 million to $164.0 million, and Individual, Family and Small Business segment profit is expected to be in the range of $36.0 million to $38.0 million compared to our previous guidance of $19.0 million to $20.0 million.

*Corporate(4) shared service expenses, excluding stock-based compensation and depreciation and amortization expense, is expected to be in the range of $56.0 million to $59.0 million.

*GAAP net income attributable to common stockholders per diluted share is expected to be in the range of $0.84 to $1.39 per share, which reflects impacts related to the private placement with H.I.G. Capital. Prior to closing the private placement with H.I.G. Capital, we previously guided to GAAP net income per diluted share of $1.53 to $2.08 per share.