EHTH · eHealth, Inc.
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Aug 4, 2026TL;DR. eHealth (EHTH) reported Q2 2026 revenue of $33.6M, down 45% YoY, as it deliberately reduced marketing spend outside major enrollment periods to focus advisors on its newly launched lifetime advisory model. The company reiterated full-year 2026 guidance ranges for revenue, GAAP net income, adjusted EBITDA and operating cash flow, while updating net adjustment (tail) revenue guidance to $16M–$20M (from $8M–$20M) to reflect the $7.6M of Q2 tail revenue.
- + Reiterated full-year 2026 guidance ranges for revenue, GAAP net income, adjusted EBITDA and operating cash flow and raised net adjustment revenue outlook to $16M–$20M from $8M–$20M.
- + Operating cash flow improved $36.2M year-over-year in Q2 to $(5.0)M vs. $(41.2)M, supporting meaningful YoY operating cash flow improvement for the year.
- + Q2 ancillary product cross-sell rates doubled YoY and other member engagement metrics improved, providing early validation of the new lifetime advisory model launched in Q2.
- + Non-GAAP operating expenses declined 25% YoY in Q2, on track for >$60M variable and ~$30M fixed annual cost savings vs. prior year.
- + Positive net adjustment (tail) revenue of $7.6M in Q2, bringing cumulative tail revenue to $284M since 2018, and commissions receivable grew 10% YoY to $1.0B.
- − Q2 total revenue fell 45% YoY to $33.6M and Medicare segment revenue fell 45% YoY to $31.8M, driven by lower Medicare enrollment volume and lower tail revenue.
- − GAAP net loss widened to $(23.6)M from $(17.4)M and adjusted EBITDA loss deepened to $(21.8)M from $(14.1)M year-over-year.
- − Management expects an even greater YoY decline in Q3 enrollment volume and revenue than the 45% Q2 marketing cut, as the majority of marketing spend is deferred to Q4 AEP.
- − Medicare segment gross profit fell 69% YoY to $6.0M from $19.1M, with $10.0M of the decline attributable to lower tail revenue.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Insurance Brokers — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
EHTH
this stock
eHealth, Inc.
|
$29.57M | -79.9% | +31.8% | — | 1.8% |
|
MRSH
Marsh & Mclennan Companies, Inc.
|
$84.42B | -2.7% | +10.3% | 21.6 | 1.4% |
|
AON
Aon plc
|
$64.97B | -11.7% | +7.7% | 16.9 | 1.8% |
|
AJG
Arthur J. Gallagher & Co.
|
$64.02B | -2.1% | +10.1% | 41.4 | 2.6% |
|
WTW
Willis Towers Watson PLC
|
$29.31B | -1.5% | -2.2% | 19.6 | 2.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| EHTH | -6.8% | -24.3% | -38.5% | -18.3% | -79.9% |
| SPY | -1.2% | -2.0% | +16.1% | -0.8% | +11.6% |
| vs SPY | -5.6% | -22.4% | -54.6% | -17.5% | -91.5% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.