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GoHealth GoHealth Reports First Quarter 2021 Results May 12 , 2021 Reaffirms Full Year 2021 Growth Outlook CHICAGO , May 12 , 2021 / PRNewswire / -- GoHealth . Inc. ( NASDAQ : GOCO ) , a leading health insurance marketplace and Medicare - focused digital health company , announced financial results for the three months ended March 31 , 2021 . • First quarter 2021 net revenue of $ 204.2 million increased 45 % compared to the prior year period • First quarter 2021 Medicare- Internal revenue of $ 157.4 million increased 65 % compared to the prior year period • First quarter 2021 Medicare Advantage ( " MA " ) Approved Submissions of 171 , 127 increased 48 % compared to the prior year period • First quarter 2021 MA LTV Per Approved Submission of $ 995 increased 17 % compared to the prior year period • First quarter 2021 net loss of $ 7.3 million compared to a net loss of $ 0.9 million in prior year period ; Adjusted EBITDA¹ of $ 32.0 million decreased 8 % compared to the prior year period due to the 2021 strategic investments in agent capacity , marketplace technology , branding and Encompass Platform • The Company reaffirmed its full year 2021 outlook , and expects total net revenue of $ 1,150 - $ 1,300 million ( + 31 % to + 48 % ) powered by commission net revenue of $ 950 - $ 1,100 million ( + 42 % to + 64 % ) . The Company also expects Adjusted EBITDA of $ 345 - $ 385 million ( + 27 % to + 42 % ) Clint Jones , co - founder and CEO said , " GoHealth's first quarter revenue growth of 45 % was driven by a 65 % gain in our Medicare - Internal segment as LTVs expanded 17 % . TeleC are initiatives continued to drive persistency gains and our ramped up investments in our Encompass Platform led to $ 9 million in revenue contribution from the platform's additional services beyond enrollment for carriers . Given our first quarter results were consistent with our expectations , as well as the excellent progress we achieved toward our 2021 hiring and efficiency goals , we are reaffirming our full year 2021 growth outlook . " Jones continued , " Seniors continue to demonstrate a high degree of interest in our model , and increasingly want to explore their Medicare plan choices from the safety and comfort of their own home through our Choice platform . GoHealth's telesales agents are equipped with the decision support tools and experience to help consumers select the best plan for their unique needs , and in the process , achieve a superior health outcome with lower costs . We are in the early days of realizing this enormous market opportunity by building GoHealth's position as the trusted advisor for consumers , helping these consumers navigate their healthcare journey through our Encompass offerings , and in the process , create value for our partners . " First Quarter 2021 Highlights 2 • Total company revenue grew 45 % to $ 204.2 million o Total Medicare Submitted Policies³ grew 40 % to 185,045 • Medicare- Internal net revenue increased 65 % to $ 157.4 million o Medicare - Internal segment profit increased 11 % to $ 46.4 million , with a 30 % margin • LTV Per carrier Approved MA Submission increased 17 % to $ 995 , powered by the combination of persistency gains and Encompass revenue . Adjusted EBITDA decreased 8 % to $ 32.0 million o Aggregate investment in customer care and enrollment and technology grew $ 28.1 million , an increase of 99 % , as the Company prepares for the upcoming Annual Enrollment Period , including enhanced tools and training to continue powering conversion gains and improved effectuation , as well as investments in Encompass o Total cost of revenue , marketing and advertising expense grew 51 % , roughly in line with sales growth • Newly expanded credit facility , combined with prior facilities , provides $ 200 million of incremental borrowing capacity , in addition to $ 174 million of cash and cash equivalents on hand 2021 Financial Outlook The trajectory of the U.S. economy remains challenging to predict , particularly given the continued uncertainty associated with the pace of recovery from the COVID - 19 pandemic . During this time , demand for healthcare has demonstrated great resilience , and we believe that the COVID - 19 pandemic has created favorable , long - term industry dynamics for technology - driven , direct - to - consumer models such as GoHealth's insurance marketplace . The Company is reaffirming its financial outlook for the fiscal year ending December 31 , 2021 based on current market conditions and expectations : • Full - year 2021 net revenue of $ 1,150 - $ 1,300 million , representing year - over - year growth of 31 % -48 % o Full - year 2021 commission revenue of $ 950 - $ 1,100 million , representing year - over - year growth of 42 % - 64 % , fueled by the Company's continued investment in its Medicare business , including GoHealth's Encompass Platform • Full - year 2021 adjusted EBITDA of $ 345 - $ 385 million , representing year - over - year growth of 27 % -42 % Conference Call Details The Company will host a conference call today , Wednesday , May 12 , 2021 at 5:00 p.m. ( ET ) to discuss its financial results . A live audio webcast and a supplemental presentation will be available online at https://investors.gohealth.com . The conference call can also be accessed by dialing 1-833-519-1310 for U.S. participants , or 1-914-800-3876 for international participants , and referencing participant code 9944456. A replay of the call will be available for 30 days via webcast for on - demand listening shortly after the completion of the call , at the same web link . About GoHealth , Inc .: As a leading health insurance marketplace and Medicare - focused digital health company , GoHealth's mission is to improve access to healthcare in America . Enrolling in a health insurance plan can be confusing for customers , and the seemingly small differences between plans can lead to significant out - of - pocket costs or lack of access to critical medicines and even providers . Go Health combines cutting - edge technology , data science and deep industry expertise to match customers with the healthcare policy and carrier that is right for them . Since its inception , GoHealth has enrolled millions of people in Medicare and individual and family plans . For more information , visit https://www.gohealth.com . Investor Relations : Jay Koval , VP of Investor Relations IR@gohealth.com Media Relations : Pressinquiries@gohealth.com ( 1 ) Adjusted EBITDA is a non - GAAP measure . For a definition of Adjusted EBITDA and a reconciliation to the most comparable GAAP measure , please refer to the appendix . ( 2 ) First quarter 2021 results compared to the comparable prior year period . ( 3 ) Total Medicare Submitted Policies includes commissionable and non - commissionable policies .