By Sarina Isaacs
Shares of eHealth climbed after the company raised its guidance for 2024.
The stock was up about 32% to $7.10 in early trading. As of Monday's close, it had lost about 34% over the prior year.
The Austin-based online health insurance marketplace said it now expects between a loss of $12 million and a profit of $3 million for full-year 2024, up sharply from its prior outlook, which predicted a loss of between $36.5 million and $22 million. Analysts are looking for a $40.9 million loss, according to FactSet.
The company also boosted revenue guidance, now anticipating between $500 million and $520 million, up from the prior range of $470 million to $495 million and better than the $487.4 million analyst consensus.
Chief Executive Fran Soistman attributed the boost to better performance during the Medicare annual enrollment period.
"During the AEP, we drove strong consumer demand to our omnichannel platform coupled with conversion rates that exceeded our expectations, allowing us to deliver substantial enrollment growth at enhanced margins," said Soistman.
Write to Sarina Isaacs at sarina.isaacw@wsj.com
(END) Dow Jones Newswires
December 17, 2024 09:35 ET (14:35 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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