EHTH

EX-99.1

2 exhibit9912026q1earningsre.htm

EX-99.1

Document

eHealth, Inc. Announces First Quarter 2026 Results

Q1 2026 results ahead of expectations

Strong Medicare segment profitability and operating expense improvements YoY

Launches lifetime advisory model and final expense insurance offering

On track to reduce total FY 2026 operating costs by approximately $90M

INDIANAPOLIS — May 6, 2026 — eHealth, Inc. (Nasdaq: EHTH), a leading private online health insurance marketplace, today announced its financial results for the first quarter ended March 31, 2026.

CEO Comments

“We’re pleased with our first quarter results, which came in ahead of expectations, driven by stronger than anticipated enrollment volume at favorable acquisition costs. During the quarter, we made meaningful progress towards our FY 2026 strategic initiatives, including implementing targeted cost reductions and completing critical build and readiness work for initiatives that launched in April. Most notably, we prepared for the rollout of our lifetime advisory model and the introduction of our new final expense insurance product, continuing to strengthen our ability to serve consumers navigating an increasingly complex healthcare landscape.”– Derrick Duke, Chief Executive Officer

Results Overview

■Q1 2026 total revenue of $88.0 million decreased 22% compared to Q1 2025 total revenue of $113.1 million, reflecting lower Medicare approved members, consistent with our strategy to reduce variable and fixed expenses in fiscal 2026 and focus demand generation on our more profitable marketing channels.

■Q1 2026 positive net adjustment revenue of $8.0 million compared to $10.5 million in Q1 2025.

■Q1 2026 constrained lifetime value (“LTV”) of commissions improved across all Medicare products year-over-year, reflecting:

■a 3% increase in Medicare Advantage (“MA”) plans;

■a 19% increase in Medicare Supplement plans; and

■a 78% increase in Medicare Part D plans.

■Q1 2026 total operating costs and expenses decreased 16% to $90.9 million compared to $108.3 million in Q1 2025.

■Variable marketing spend within our Medicare segment declined 45% year-over-year.

■Q1 2026 non-GAAP total operating costs and expenses(1) decreased 21% year-over-year.

■Significant expansion in Q1 2026 Medicare segment gross margin to 41% from 34% in Q1 2025.

■Q1 2026 Medicare unit economics improved year-over-year, driven by higher MA constrained LTV of commissions and a 10% reduction in total acquisition cost per MA-equivalent approved member.

■ Medicare LTV-to-CAC ratio(8) of 1.4x, up from 1.2x in Q1 2025.

■Q1 2026 GAAP net loss of $4.7 million compared to Q1 2025 GAAP net income of $2.0 million primarily due to Q1 2026 restructuring charges of $6.4 million.

■ Q1 2026 GAAP net loss margin of 5% compared to Q1 2025 GAAP net income margin of 2%.

■Q1 2026 adjusted EBITDA(1) of $9.0 million declined 28% compared to Q1 2025 adjusted EBITDA(1) of $12.5 million.

■Q1 2026 adjusted EBITDA margin(1) of 10% compared to Q1 2025 adjusted EBITDA margin(1) of 11%.

■Operating cash flow of $35.8 million for the three months ended March 31, 2026; on-track to achieve operating cash flow guidance for FY 2026.

■Cash, cash equivalents and short-term marketable securities of $110.8 million as of March 31, 2026.

■Commissions receivable balance of $1.0 billion as of March 31, 2026.

Note: See the tables at the end of this press release for a reconciliation of our GAAP financial measures to our non-GAAP financial measures for the relevant periods and footnote (1) on page 14 at the end of this press release for definitions of our non-GAAP financial measures. Additionally, see accompanying footnotes on page 14 for additional definitions.

1

2026 Guidance

Based on information available as of May 6, 2026, we are reiterating guidance for the full year ending December 31, 2026. 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, 2026:

•Total revenue is expected to be in the range of $405.0 million to $445.0 million.

•GAAP net income is expected to be in the range of $8.0 million to $25.0 million.

•Adjusted EBITDA(1) is expected to be in the range of $55.0 million to $75.0 million.

•Operating cash flow is expected to be in the range of $(10.0) million to $12.0 million.

The above guidance includes the expected impact of positive net adjustment revenue which has been updated to be in the range of $8 million to $20 million to reflect the Q1 2026 positive net adjustment revenue, compared to the previous range of $0 to $20 million.

Note: See accompanying footnotes on page 14.

Webcast and Conference Call Information

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ehth-20260225FALSE000133349300013334932026-02-252026-02-250001333493dei:FormerAddressMember2026-02-252026-02-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported): February 25, 2026

EHEALTH, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware001-3307156-2357876 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

9190 PRIORITY WAY WEST DR., SUITE 110

INDIANAPOLIS, IN 46240

(Address of principal executive offices)    (Zip Code)

(737) 248-2340 (Registrant’s telephone number, including area code)

13620 RANCH ROAD 620 N, SUITE A250

AUSTIN, TX 78717

(Former name or former address, if changed since last report)

Not applicable (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name 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 is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 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. ¨

Item 2.02Results of Operations and Financial Condition.

On February 25, 2026, eHealth, Inc. (the “Company”) issued a press release announcing its financial results for the three and twelve months ended December 31, 2025 and its financial condition as of December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

On February 25, 2026, the Company posted supplemental investor material on its investor relations webpage at https://ir.ehealthinsurance.com. The Company intends to use its investor relations webpage as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. A copy of the supplemental investor materials is also furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K and the exhibits attached hereto are intended to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. Except as shall be expressly set forth by specific reference in such filing, the information contained herein and in the accompanying exhibits shall not be incorporated by reference into any filing with the Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits

Exhibit No.Description 99.1Press Release of eHealth, Inc. dated February 25, 2026 (eHealth, Inc. Announces Fourth Quarter and Fiscal Year 2025 Results)

99.2Financial Results Conference Call Slides of eHealth, Inc. dated February 25, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

eHealth, Inc. Date:February 25, 2026/s/ John J. Dolan

John J. Dolan Chief Financial Officer (Principal Financial Officer)

ehth-20251105FALSE000133349300013334932025-11-052025-11-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported): November 5, 2025

EHEALTH, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware001-3307156-2357876 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

13620 RANCH ROAD 620 N, SUITE A250

AUSTIN, TX 78717

(Address of principal executive offices)    (Zip Code)

(737) 248-2340 (Registrant’s telephone number, including area code)

Not applicable (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name 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 is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 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. ¨

Item 2.02Results of Operations and Financial Condition.

On November 5, 2025, eHealth, Inc. (the “Company”) issued a press release announcing its financial results for the three and nine months ended September 30, 2025 and its financial condition as of September 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

On November 5, 2025, the Company posted supplemental investor material on its investor relations webpage at https://ir.ehealthinsurance.com. The Company intends to use its investor relations webpage as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. A copy of the supplemental investor materials is also furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K and the exhibits attached hereto are intended to be “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. Except as shall be expressly set forth by specific reference in such filing, the information contained herein and in the accompanying exhibits shall not be incorporated by reference into any filing with the Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits

Exhibit No.Description 99.1Press Release of eHealth, Inc. dated November 5, 2025 (eHealth, Inc. Announces Third Quarter 2025 Results)

99.2Financial Results Conference Call Slides of eHealth, Inc. dated November 5, 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

eHealth, Inc. Date:November 5, 2025/s/ John Dolan

John Dolan Chief Financial Officer (Principal Financial Officer)