eHealth, Inc(NASDAQ:EHTH)

eHealth, Inc. provides private health insurance exchange services to individuals, families, and small businesses in the United States and China. The company operates through two segments, Medicare; and Individual, Family and Small Business. Its ecommerce platforms organize and present health insuran...
Website: http://www.ehealthinsurance.com
Founded: 1997
Full Time Employees: 1,500
CEO: Jim Hornell
Sector: Financial Services
Industry: Insurance Brokers
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At a glance:
Bull Thesis:
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Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue: | |||||||||||||||||||||||||
commission | 297,055,000 | 47,223,000 | 54,731,000 | 98,946,000 | 275,651,000 | 48,222,000 | 56,847,000 | 80,927,000 | 218,496,000 | 57,239,000 | 60,186,000 | 68,003,000 | 170,584,000 | 48,977,000 | 47,835,000 | 93,850,000 | 217,053,000 | 59,191,000 | 89,823,000 | 127,052,000 | 254,203,000 | 73,544,000 | 80,773,000 | 99,669,000 | |
other | 29,183,000 | 6,646,000 | 6,051,000 | 14,173,000 | 39,530,000 | 10,187,000 | 9,009,000 | 12,037,000 | 29,166,000 | 7,479,000 | 6,582,000 | 5,720,000 | 25,737,000 | 4,399,000 | 2,574,000 | 11,400,000 | 26,461,000 | 4,723,000 | 6,734,000 | 7,162,000 | 39,113,000 | 20,740,000 | 7,993,000 | 6,739,000 | |
total revenue | 326,238,000 | 53,869,000 | 60,782,000 | 113,119,000 | 315,181,000 | 58,409,000 | 65,856,000 | 92,964,000 | 247,662,000 | 64,718,000 | 66,768,000 | 73,723,000 | 196,321,000 | 53,376,000 | 50,409,000 | 105,250,000 | 243,514,000 | 63,914,000 | 96,557,000 | 134,214,000 | 293,316,000 | 94,284,000 | 88,766,000 | 106,408,000 | |
yoy | 3.51% | -7.77% | -7.70% | 21.68% | 27.26% | -9.75% | -1.37% | 26.10% | 26.15% | 21.25% | 32.45% | -29.95% | -19.38% | -16.49% | -47.79% | -21.58% | -16.98% | -32.21% | 8.78% | 26.13% | |||||
qoq | 505.61% | -11.37% | -46.27% | -64.11% | 439.61% | -11.31% | -29.16% | -62.46% | 282.68% | -3.07% | -9.43% | -62.45% | 267.81% | 5.89% | -52.11% | -56.78% | 281.00% | -33.81% | -28.06% | -54.24% | 211.10% | 6.22% | -16.58% | ||
operating costs and expenses: | |||||||||||||||||||||||||
marketing and advertising | 94,231,000 | 24,395,000 | 21,425,000 | 41,189,000 | 95,652,000 | 29,665,000 | 26,783,000 | 38,737,000 | 88,155,000 | 28,988,000 | 23,284,000 | 32,899,000 | 76,115,000 | 30,556,000 | 29,963,000 | 58,454,000 | 132,528,000 | 43,317,000 | 44,581,000 | 50,874,000 | 105,298,000 | 33,405,000 | 32,873,000 | 37,764,000 | |
customer care and enrollment | 60,940,000 | 36,814,000 | 27,910,000 | 37,221,000 | 62,675,000 | 39,321,000 | 28,551,000 | 32,901,000 | 58,559,000 | 40,682,000 | 32,862,000 | 26,957,000 | 40,388,000 | 29,398,000 | 29,149,000 | 42,164,000 | 57,815,000 | 48,956,000 | 38,362,000 | 34,162,000 | 71,870,000 | 43,342,000 | 27,148,000 | 30,535,000 | |
technology and content | 16,069,000 | 11,805,000 | 11,354,000 | 12,601,000 | 14,907,000 | 12,264,000 | 13,044,000 | 13,305,000 | 17,155,000 | 13,828,000 | 14,500,000 | 15,544,000 | 21,967,000 | 19,399,000 | 17,780,000 | 19,663,000 | 19,804,000 | 20,369,000 | 20,464,000 | 23,163,000 | 18,402,000 | 17,673,000 | 13,373,000 | 15,740,000 | |
general and administrative | 28,738,000 | 21,925,000 | 21,582,000 | 17,310,000 | 27,447,000 | 20,297,000 | 22,402,000 | 19,619,000 | 23,316,000 | 20,422,000 | 22,021,000 | 21,002,000 | 17,325,000 | 17,300,000 | 17,198,000 | 19,987,000 | 17,887,000 | 16,640,000 | 18,118,000 | 23,054,000 | 16,144,000 | 19,942,000 | 20,713,000 | 19,653,000 | |
impairment, restructuring and other charges | 455,000 | 1,555,000 | 66,000 | 61,000 | 3,035,000 | 6,313,000 | 8,926,000 | 4,498,000 | |||||||||||||||||
total operating costs and expenses | 199,978,000 | 95,394,000 | 83,826,000 | 108,321,000 | 202,541,000 | 101,608,000 | 93,815,000 | 110,875,000 | 188,294,000 | 104,114,000 | 92,920,000 | 96,617,000 | 165,578,000 | 101,645,000 | 95,882,000 | 144,964,000 | 277,147,000 | 129,951,000 | 121,890,000 | 134,856,000 | 213,923,000 | 115,131,000 | 95,020,000 | 105,377,000 | |
income from operations | 126,260,000 | -41,525,000 | -23,044,000 | 4,798,000 | 112,640,000 | -43,199,000 | -27,959,000 | -17,911,000 | 59,368,000 | -39,396,000 | -26,152,000 | -22,894,000 | 30,743,000 | -48,269,000 | -45,473,000 | -39,714,000 | -33,633,000 | -66,037,000 | -25,333,000 | -642,000 | 79,393,000 | -20,847,000 | -6,254,000 | 1,031,000 | |
yoy | 12.09% | -3.88% | -17.58% | -126.79% | 89.73% | 9.65% | 6.91% | -21.77% | 93.11% | -18.38% | -42.49% | -42.35% | -191.41% | -26.91% | 79.50% | 6085.98% | -142.36% | 216.77% | 305.07% | -162.27% | |||||
qoq | -404.06% | 80.20% | -580.28% | -95.74% | -360.75% | 54.51% | 56.10% | -130.17% | -250.70% | 50.64% | 14.23% | -174.47% | -163.69% | 6.15% | 14.50% | 18.08% | -49.07% | 160.68% | 3845.95% | -100.81% | -480.84% | 233.34% | -706.60% | ||
operating margin % | 38.70% | -77.09% | -37.91% | 4.24% | 35.74% | -73.96% | -42.45% | -19.27% | 23.97% | -60.87% | -39.17% | -31.05% | 15.66% | -90.43% | -90.21% | -37.73% | -13.81% | -103.32% | -26.24% | -0.48% | 27.07% | -22.11% | -7.05% | 0.97% | |
interest expense | -3,381,000 | -2,384,000 | -2,348,000 | -2,648,000 | -2,642,000 | -2,859,000 | -2,849,000 | -2,809,000 | |||||||||||||||||
other income | -896,000 | 978,000 | 1,340,000 | 1,576,000 | 475,000 | 1,699,000 | 2,335,000 | 2,391,000 | 108,000 | -841,000 | -647,000 | -1,167,000 | -1,021,000 | 244,000 | 189,000 | 172,000 | 150,000 | -58,000 | -101,000 | 452,000 | 373,000 | ||||
income before income taxes | 121,983,000 | -42,931,000 | -24,052,000 | 3,726,000 | 110,473,000 | -44,359,000 | -28,473,000 | -18,329,000 | 58,469,000 | -39,534,000 | -26,044,000 | -23,486,000 | 29,902,000 | -48,916,000 | -46,640,000 | -40,735,000 | |||||||||
benefit from income taxes | -4,029,500 | -11,240,000 | -6,654,000 | -934,000 | -1,886,000 | -505,000 | -1,345,000 | 6,279,000 | -2,509,000 | -2,543,000 | -3,608,000 | -6,724,500 | -9,767,000 | -9,138,000 | -4,819,500 | -12,834,000 | -6,752,000 | -2,730,750 | -6,443,000 | -2,432,000 | -2,048,000 | ||||
net income | 87,183,000 | -31,691,000 | -17,398,000 | 1,950,000 | 97,482,000 | -42,473,000 | -27,968,000 | -16,984,000 | 52,190,000 | -37,025,000 | -23,501,000 | -19,878,000 | 20,671,000 | -39,149,000 | -37,502,000 | -32,742,000 | -32,152,000 | -53,014,000 | -18,409,000 | -800,000 | 59,873,000 | -14,505,000 | -3,370,000 | 3,452,000 | |
yoy | -10.57% | -25.39% | -37.79% | -111.48% | 86.78% | 14.71% | 19.01% | -14.56% | 152.48% | -5.43% | -37.33% | -39.29% | -164.29% | -26.15% | 103.72% | 3992.75% | -153.70% | 265.49% | 446.26% | -123.17% | |||||
qoq | -375.10% | 82.15% | -992.21% | -98.00% | -329.52% | 51.86% | 64.67% | -132.54% | -240.96% | 57.55% | 18.23% | -196.16% | -152.80% | 4.39% | 14.54% | 1.84% | -39.35% | 187.98% | 2201.13% | -101.34% | -512.77% | 330.42% | -197.62% | ||
net income margin % | 26.72% | -58.83% | -28.62% | 1.72% | 30.93% | -72.72% | -42.47% | -18.27% | 21.07% | -57.21% | -35.20% | -26.96% | 10.53% | -73.35% | -74.40% | -31.11% | -13.20% | -82.95% | -19.07% | -0.60% | 20.41% | -15.38% | -3.80% | 3.24% | |
preferred stock dividends | -5,990,000 | -5,987,000 | -5,846,000 | -5,781,000 | -5,646,000 | -5,643,000 | -5,480,000 | -5,480,000 | -5,321,000 | -5,320,000 | -5,223,000 | ||||||||||||||
change in preferred stock redemption value | -7,261,000 | -6,903,000 | -6,539,000 | -6,141,000 | -6,149,000 | -5,832,000 | -5,540,000 | -5,247,000 | -5,178,000 | -4,898,000 | -4,191,000 | -3,069,000 | -3,162,000 | -2,916,000 | -2,756,000 | -2,501,000 | -2,591,000 | -2,373,000 | -1,397,000 | ||||||
net loss attributable to common stockholders | 73,932,000 | -44,581,000 | -29,783,000 | -9,972,000 | 85,687,000 | -53,948,000 | -38,988,000 | -27,711,000 | -27,051,500 | -47,243,000 | -32,915,000 | -28,048,000 | -32,996,500 | -46,998,000 | -45,029,000 | -20,909,000 | -59,948,000 | ||||||||
net income per share | |||||||||||||||||||||||||
basic and diluted | 2.44 | -1.46 | -0.98 | -0.33 | 2.94 | -1.83 | -1.33 | -0.96 | -0.97 | -1.68 | -1.18 | -1.01 | -1.208 | -1.72 | -1.65 | -1.46 | -0.14 | -0.55 | -0.13 | ||||||
weighted-average number of shares used in per share amounts: | |||||||||||||||||||||||||
basic and diluted | 30,484 | 30,633 | 30,404 | 29,997 | 29,335 | 29,485 | 29,233 | 28,912 | 28,016 | 28,114 | 27,822 | 27,648 | 27,346 | 27,276 | 27,278 | 26,786 | 26,487 | ||||||||
comprehensive loss: | |||||||||||||||||||||||||
unrealized gain on available for sale debt securities, net of tax | -5.75 | 5 | 9 | ||||||||||||||||||||||
foreign currency translation adjustments | 109 | 77 | -4 | 6 | -337 | 118 | -33 | 45 | 46 | 73 | -248 | 110 | 49 | -245 | -261 | ||||||||||
comprehensive loss | -11,770.75 | -31,609 | -17,393 | -21,804.25 | -42,256 | -27,999 | -16,962 | 52,241 | -36,967 | -23,742 | -19,755 | -27,470.5 | -39,398 | -37,773 | -32,711 | -18,063.75 | -53,037 | -3,569.75 | -14,498 | ||||||
provision for income taxes | 1,776,000 | -7,993,000 | 308,000 | ||||||||||||||||||||||
comprehensive income: | |||||||||||||||||||||||||
unrealized loss on available for sale debt securities, net of tax | -37 | ||||||||||||||||||||||||
comprehensive income | 1,919 | -18,385 | -833 | -3,227 | 3,446 | ||||||||||||||||||||
unrealized holding gain on available for sale debt securities, net of tax | -23 | 99 | 2 | -23 | |||||||||||||||||||||
cost of revenue | 1,109,000 | 194,000 | 253,000 | 215,000 | 857,000 | 494,000 | 423,000 | -127,000 | 775,000 | -25,000 | 246,000 | 996,000 | 1,923,000 | 482,000 | 540,000 | 1,138,000 | |||||||||
other expense | -155,500 | -138,000 | -592,000 | ||||||||||||||||||||||
unrealized gain for available-for-sale debt securities, net of tax | 1.25 | -15 | |||||||||||||||||||||||
unrealized holding gain for available-for-sale debt securities, net of tax | 7 | 13 | |||||||||||||||||||||||
paid-in-kind dividends for preferred stock | -5,101,000 | -4,937,000 | -4,933,000 | -4,771,000 | -4,717,000 | -4,563,000 | -4,561,000 | -3,082,000 | |||||||||||||||||
amortization of intangible assets | 120,000 | 121,000 | 119,000 | 176,000 | 286,000 | 287,000 | 373,000 | 547,000 | |||||||||||||||||
unrealized holding gain for available for sales debt securities, net of tax | -1.5 | -4 | 8 | -12 | 3 | -35 | -16 | 17.75 | -97 | 143 | 25 | ||||||||||||||
restructuring and reorganization charges | 1,369,000 | 4,823,000 | 1,874,000 | 573,000 | |||||||||||||||||||||
unrealized holding loss for available for sales debt securities, net of tax | -10 | ||||||||||||||||||||||||
net loss attributable to common stockholders: | -39,960,000 | ||||||||||||||||||||||||
foreign currency translation adjustment | 23 | 73 | -26 | 59 | -17 | 133 | 104 | ||||||||||||||||||
loss before benefit from income taxes | -22,875,250 | -65,848,000 | -25,161,000 | -6,336,500 | -20,948,000 | -5,802,000 | |||||||||||||||||||
net income per share | |||||||||||||||||||||||||
basic | -1.46 | -2.24 | -0.86 | -0.03 | 0.14 | ||||||||||||||||||||
diluted | -1.46 | -2.24 | -0.86 | -0.03 | 0.13 | ||||||||||||||||||||
restructuring charges | 2,431,000 | ||||||||||||||||||||||||
net income attributable to common stockholders | -22,888,000 | ||||||||||||||||||||||||
weighted-average number of shares used in per share amounts: | |||||||||||||||||||||||||
basic | 27,359 | 26,781 | 26,677 | 26,620 | 26,025 | 26,358 | 24,719 | ||||||||||||||||||
diluted | 27,359 | 26,781 | 26,677 | 26,620 | 27,014 | 26,358 | 26,179 | ||||||||||||||||||
income before provision for income taxes | -492,000 | ||||||||||||||||||||||||
change in fair value of earnout liability | |||||||||||||||||||||||||
income before benefit from income taxes | 1,404,000 | ||||||||||||||||||||||||
foreign currency translation adjustment, net of taxes | -31 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||
cash and cash equivalents | 73,725,000 | 63,089,000 | 65,920,000 | 121,092,000 | 39,197,000 | 64,032,000 | 126,344,000 | 174,986,000 | 115,722,000 | 152,118,000 | 153,185,000 | 180,633,000 | 144,401,000 | 160,258,000 | 194,741,000 | 220,563,000 | 81,926,000 | 157,530,000 | 92,250,000 | 23,466,000 | 23,466,000 | 23,466,000 | 23,466,000 | 13,089,000 |
short-term marketable securities | 3,495,000 | 12,212,000 | 39,280,000 | 34,495,000 | 43,043,000 | 53,750,000 | 24,721,000 | 13,946,000 | 5,930,000 | 8,469,000 | 36,619,000 | 22,059,000 | 4,491,000 | 4,466,000 | 10,938,000 | 41,306,000 | 70,212,000 | 33,922,000 | ||||||
accounts receivable | 7,688,000 | 1,852,000 | 1,856,000 | 3,387,000 | 16,807,000 | 5,864,000 | 1,183,000 | 1,407,000 | 3,993,000 | 522,000 | 643,000 | 1,027,000 | 2,633,000 | 1,804,000 | 442,000 | 1,978,000 | 5,750,000 | 1,305,000 | 1,847,000 | 2,332,000 | 2,332,000 | 2,332,000 | 2,332,000 | 3,601,000 |
contract assets – commissions receivable – current | 236,116,000 | 208,426,000 | 209,654,000 | 197,493,000 | 242,467,000 | 197,591,000 | 194,306,000 | 203,013,000 | 244,663,000 | 212,399,000 | 188,697,000 | 205,679,000 | 242,749,000 | 207,505,000 | 201,315,000 | 204,237,000 | 254,821,000 | 194,197,000 | 180,276,000 | 174,526,000 | 174,526,000 | 174,526,000 | 174,526,000 | |
prepaid expenses and other current assets | 13,328,000 | 17,288,000 | 11,464,000 | 12,974,000 | 12,961,000 | 19,630,000 | 9,298,000 | 11,006,000 | 12,044,000 | 23,233,000 | 11,083,000 | 11,266,000 | 11,301,000 | 21,039,000 | 9,633,000 | 11,825,000 | 23,784,000 | 36,653,000 | 12,325,000 | 7,822,000 | 7,822,000 | 7,822,000 | 7,822,000 | 5,288,000 |
total current assets | 334,352,000 | 302,867,000 | 328,174,000 | 369,441,000 | 354,475,000 | 340,867,000 | 355,852,000 | 404,358,000 | 382,352,000 | 396,741,000 | 390,227,000 | 420,664,000 | 401,084,000 | 395,097,000 | 410,597,000 | 449,541,000 | 407,587,000 | 459,897,000 | 320,620,000 | 208,146,000 | 208,146,000 | 208,146,000 | 208,146,000 | 156,168,000 |
contract assets – commissions receivable – non-current | 886,614,000 | 699,299,000 | 707,337,000 | 725,764,000 | 757,523,000 | 616,445,000 | 637,568,000 | 642,320,000 | 673,514,000 | 568,177,000 | 600,892,000 | 596,354,000 | 641,555,000 | 578,339,000 | 600,298,000 | 626,941,000 | 653,441,000 | 563,171,000 | 561,571,000 | 414,696,000 | 414,696,000 | 414,696,000 | 414,696,000 | |
property and equipment | 4,531,000 | 4,939,000 | 5,219,000 | 4,123,000 | 4,437,000 | 4,770,000 | 4,355,000 | 4,228,000 | 4,864,000 | 5,427,000 | 5,034,000 | 4,994,000 | 5,501,000 | 7,927,000 | 9,750,000 | 11,106,000 | 12,105,000 | 13,795,000 | 14,869,000 | 10,518,000 | 10,518,000 | 10,518,000 | 10,518,000 | 7,684,000 |
operating lease right-of-use assets | 8,429,000 | 9,182,000 | 10,032,000 | 11,265,000 | 12,081,000 | 12,442,000 | 13,435,000 | 16,268,000 | 22,767,000 | 23,943,000 | 23,938,000 | 25,381,000 | 26,516,000 | 30,845,000 | 34,740,000 | 36,099,000 | 37,373,000 | 38,693,000 | 41,284,000 | 36,621,000 | 36,621,000 | 36,621,000 | 36,621,000 | |
restricted cash | 3,090,000 | 3,090,000 | 3,090,000 | 3,090,000 | 3,090,000 | 3,090,000 | 3,090,000 | 3,090,000 | 3,090,000 | 3,090,000 | 3,239,000 | 3,239,000 | 3,239,000 | 3,239,000 | 3,239,000 | 3,239,000 | 3,239,000 | 3,354,000 | 3,354,000 | 3,354,000 | 3,354,000 | 3,354,000 | 3,354,000 | |
other assets | 25,452,000 | 28,038,000 | 25,859,000 | 23,479,000 | 23,819,000 | 24,377,000 | 24,315,000 | 25,374,000 | 26,758,000 | 28,998,000 | 30,105,000 | 32,402,000 | 34,716,000 | 36,446,000 | 36,294,000 | 35,936,000 | 33,624,000 | 32,307,000 | 27,471,000 | 18,004,000 | 18,004,000 | 18,004,000 | 18,004,000 | 11,276,000 |
total assets | 1,262,468,000 | 1,047,415,000 | 1,079,711,000 | 1,137,162,000 | 1,155,425,000 | 1,001,991,000 | 1,038,615,000 | 1,095,638,000 | 1,113,345,000 | 1,026,376,000 | 1,053,435,000 | 1,083,034,000 | 1,112,611,000 | 1,051,893,000 | 1,094,918,000 | 1,162,862,000 | 1,149,292,000 | 1,159,603,000 | 1,017,795,000 | 741,634,000 | 741,634,000 | 741,634,000 | 741,634,000 | 439,278,000 |
liabilities, convertible preferred stock and stockholders’ equity | ||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||
accounts payable | 28,323,000 | 6,215,000 | 5,748,000 | 7,349,000 | 23,448,000 | 5,407,000 | 4,957,000 | 6,287,000 | 7,197,000 | 7,004,000 | 6,391,000 | 5,273,000 | 6,732,000 | 6,626,000 | 5,792,000 | 8,196,000 | 13,750,000 | 10,084,000 | 10,944,000 | 24,554,000 | 24,554,000 | 24,554,000 | 24,554,000 | 5,688,000 |
accrued compensation and benefits | 41,009,000 | 24,266,000 | 17,054,000 | 44,974,000 | 43,888,000 | 26,207,000 | 20,012,000 | 40,932,000 | 40,800,000 | 26,793,000 | 20,969,000 | 27,884,000 | 20,690,000 | 14,278,000 | 11,010,000 | 18,501,000 | 16,458,000 | 20,424,000 | 24,630,000 | 29,578,000 | 29,578,000 | 29,578,000 | 29,578,000 | 20,763,000 |
accrued marketing expenses | 16,182,000 | 5,558,000 | 4,048,000 | 9,071,000 | 16,612,000 | 9,208,000 | 7,842,000 | 9,404,000 | 20,340,000 | 7,423,000 | 6,435,000 | 8,751,000 | 23,770,000 | 8,209,000 | 9,666,000 | 19,537,000 | 36,384,000 | 11,263,000 | 11,076,000 | 12,041,000 | 12,041,000 | 12,041,000 | 12,041,000 | 11,013,000 |
lease liabilities – current | 7,349,000 | 7,769,000 | 7,581,000 | 7,841,000 | 7,732,000 | 7,429,000 | 7,360,000 | 7,206,000 | 7,070,000 | 6,902,000 | 6,498,000 | 6,628,000 | 6,486,000 | 5,988,000 | 5,891,000 | 5,655,000 | 5,543,000 | 5,570,000 | 5,316,000 | 4,759,000 | 4,759,000 | 4,759,000 | ||
other current liabilities | 6,207,000 | 7,430,000 | 6,687,000 | 5,354,000 | 4,331,000 | 5,597,000 | 7,463,000 | 14,019,000 | 3,131,000 | 5,126,000 | 4,452,000 | 2,931,000 | 2,887,000 | 3,016,000 | 3,535,000 | 8,500,000 | 3,330,000 | 4,546,000 | 4,270,000 | 2,210,000 | 2,210,000 | 2,210,000 | 2,210,000 | 1,549,000 |
total current liabilities | 99,070,000 | 51,238,000 | 110,205,000 | 143,354,000 | 96,011,000 | 53,848,000 | 116,296,000 | 146,044,000 | 78,538,000 | 53,248,000 | 44,745,000 | 51,467,000 | 60,565,000 | 38,117,000 | 35,894,000 | 60,389,000 | 75,465,000 | 62,434,000 | 57,113,000 | 112,985,000 | 112,985,000 | 112,985,000 | 112,985,000 | 60,619,000 |
long-term debt | 112,954,000 | 69,423,000 | 68,458,000 | 69,155,000 | 67,754,000 | 67,321,000 | 66,905,000 | 66,508,000 | 66,129,000 | 65,725,000 | 65,403,000 | 64,989,000 | ||||||||||||
deferred income taxes – non-current | 57,223,000 | 21,860,000 | 33,675,000 | 40,400,000 | 38,870,000 | 25,347,000 | 27,057,000 | 28,305,000 | 29,687,000 | 23,048,000 | 25,659,000 | 28,748,000 | 32,359,000 | 23,589,000 | 33,478,000 | 42,763,000 | 50,796,000 | 52,185,000 | 71,748,000 | 64,130,000 | 64,130,000 | 64,130,000 | ||
lease liabilities – non-current | 14,050,000 | 15,540,000 | 17,091,000 | 18,739,000 | 20,731,000 | 22,349,000 | 24,380,000 | 26,285,000 | 28,333,000 | 30,138,000 | 30,907,000 | 32,549,000 | 34,187,000 | 31,234,000 | 32,769,000 | 34,410,000 | 35,826,000 | 37,138,000 | 39,984,000 | 34,305,000 | 34,305,000 | 34,305,000 | ||
other non-current liabilities | 5,519,000 | 4,885,000 | 4,907,000 | 5,061,000 | 5,418,000 | 4,821,000 | 4,970,000 | 4,789,000 | 4,949,000 | 4,101,000 | 4,315,000 | 4,400,000 | 5,132,000 | 4,545,000 | 4,456,000 | 4,574,000 | 5,094,000 | 4,747,000 | 5,025,000 | 3,050,000 | 3,050,000 | 3,050,000 | 3,050,000 | 3,339,000 |
total liabilities | 288,816,000 | 162,946,000 | 165,878,000 | 207,554,000 | 229,488,000 | 175,520,000 | 172,703,000 | 205,423,000 | 209,261,000 | 177,856,000 | 172,531,000 | 183,672,000 | 198,372,000 | 163,210,000 | 172,000,000 | 207,125,000 | 167,181,000 | 156,504,000 | ||||||
commitments and contingencies | ||||||||||||||||||||||||
convertible preferred stock, par value 0.001 per share... | 382,057,000 | 337,509,000 | 298,053,000 | 263,284,000 | 232,592,000 | |||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||||||
preferred stock, par value 0.001 per share... | ||||||||||||||||||||||||
common stock, par value 0.001 per share... | 44,000 | 43,000 | 41,000 | 40,000 | 39,000 | 35,000 | 31,000 | |||||||||||||||||
additional paid-in capital | 761,495,000 | 758,113,000 | 767,261,000 | 776,569,000 | 773,371,000 | 812,538,000 | 808,314,000 | 803,248,000 | 798,786,000 | 794,135,000 | 788,222,000 | 782,065,000 | 777,187,000 | 772,328,000 | 767,164,000 | 762,212,000 | 755,875,000 | 744,784,000 | 728,213,000 | 455,159,000 | 455,159,000 | 455,159,000 | 455,159,000 | 298,024,000 |
treasury stock | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 | -199,998,000 |
retained earnings | 30,116,000 | -43,815,000 | -12,124,000 | 5,274,000 | 15,246,000 | -113,363,000 | -59,415,000 | -20,427,000 | 7,284,000 | -34,407,000 | 12,836,000 | 45,751,000 | 73,799,000 | 61,227,000 | 108,225,000 | 153,253,000 | 193,213,000 | 232,519,000 | 315,355,000 | 271,852,000 | 271,852,000 | 271,852,000 | 271,852,000 | 204,965,000 |
accumulated other comprehensive loss | -62,000 | -178,000 | -260,000 | -265,000 | -234,000 | -91,000 | -60,000 | -82,000 | -133,000 | -191,000 | ||||||||||||||
total stockholders’ equity | 591,595,000 | 514,166,000 | 554,923,000 | 581,623,000 | 588,428,000 | 499,346,000 | 548,852,000 | 582,805,000 | 606,031,000 | 559,637,000 | 600,909,000 | 627,908,000 | 650,955,000 | 633,498,000 | 675,581,000 | 715,927,000 | 749,519,000 | 777,661,000 | 843,925,000 | 527,164,000 | 527,164,000 | 527,164,000 | 527,164,000 | 303,149,000 |
total liabilities, convertible preferred stock and stockholders’ equity | 1,262,468,000 | 1,047,415,000 | 1,079,711,000 | 1,137,162,000 | 1,155,425,000 | 1,001,991,000 | 1,038,615,000 | 1,095,638,000 | 1,113,345,000 | 1,026,376,000 | 1,053,435,000 | |||||||||||||
convertible preferred stock | 370,303,000 | 358,910,000 | 347,985,000 | 327,125,000 | 317,060,000 | 307,410,000 | 288,883,000 | 279,995,000 | 271,454,000 | 255,185,000 | 247,337,000 | 239,810,000 | 225,438,000 | |||||||||||
common stock | 44,000 | 44,000 | 43,000 | 43,000 | 42,000 | 42,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 39,000 | 38,000 | 38,000 | 35,000 | 35,000 | 35,000 | |||||||
short term debt | 69,087,000 | 68,765,000 | 68,662,000 | 68,196,000 | ||||||||||||||||||||
accumulated other comprehensive income | 126,000 | 50,000 | -73,000 | -99,000 | 150,000 | 421,000 | 390,000 | 318,000 | 317,000 | 116,000 | 116,000 | 116,000 | 116,000 | 127,000 | ||||||||||
total liabilities, convertible preferred stock, and stockholders’ equity | 1,083,034,000 | 1,112,611,000 | 1,051,893,000 | 1,094,918,000 | 1,162,862,000 | 1,149,292,000 | 1,159,603,000 | |||||||||||||||||
liabilities, convertible preferred stock, and stockholders’ equity | ||||||||||||||||||||||||
intangible assets | 1,923,000 | 8,153,000 | 8,393,000 | 10,062,000 | 10,062,000 | 10,062,000 | 10,062,000 | 12,249,000 | ||||||||||||||||
goodwill | 40,233,000 | 40,233,000 | 40,233,000 | 40,233,000 | 40,233,000 | 40,233,000 | 40,233,000 | |||||||||||||||||
deferred revenue | 10,547,000 | 877,000 | 2,570,000 | 2,570,000 | 2,570,000 | 2,570,000 | 876,000 | |||||||||||||||||
liabilities and stockholders’ equity | ||||||||||||||||||||||||
total liabilities and stockholders’ equity | 1,017,795,000 | 741,634,000 | 741,634,000 | 741,634,000 | 741,634,000 | 439,278,000 | ||||||||||||||||||
earnout liability – current | 37,273,000 | 37,273,000 | 37,273,000 | |||||||||||||||||||||
long-term marketable securities | ||||||||||||||||||||||||
earnout liability — current | 37,273,000 | 20,730,000 | ||||||||||||||||||||||
lease liabilities — current | 4,759,000 | |||||||||||||||||||||||
deferred income taxes — non-current | 64,130,000 | 47,901,000 | ||||||||||||||||||||||
lease liabilities — non-current | 34,305,000 | |||||||||||||||||||||||
commissions receivable — current | 134,190,000 | |||||||||||||||||||||||
commissions receivable — non-current | 211,668,000 | |||||||||||||||||||||||
debt | 5,000,000 | |||||||||||||||||||||||
earnout liability — non-current | 19,270,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-03-31 | 2020-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities: | |||||||||||||||||
net income | 1,950,000 | -800,000 | 3,452,000 | ||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||
depreciation and amortization | 497,000 | 447,000 | 466,000 | 471,000 | 502,000 | 473,000 | 475,000 | 533,000 | 632,000 | 614,000 | 638,000 | 656,000 | 1,091,000 | 946,000 | 1,730,000 | 1,138,000 | 823,000 |
amortization of internally developed software | 2,715,000 | 2,694,000 | 3,005,000 | 3,463,000 | 3,325,000 | 3,354,000 | 3,803,000 | 3,873,000 | 4,143,000 | 4,131,000 | 4,513,000 | 4,589,000 | 4,258,000 | 3,832,000 | 3,761,000 | 2,806,000 | 1,501,000 |
stock-based compensation expense | 3,456,000 | 3,922,000 | 3,876,000 | 3,789,000 | 4,756,000 | 4,479,000 | 5,106,000 | 5,540,000 | 5,472,000 | 6,554,000 | 6,193,000 | 4,994,000 | 5,505,000 | 5,285,000 | 7,976,000 | 11,402,000 | 8,714,000 |
deferred income taxes | 35,363,000 | -11,815,000 | -6,724,000 | 1,529,000 | 13,523,000 | -1,709,000 | -1,249,000 | -1,382,000 | 6,639,000 | -2,611,000 | -3,089,000 | -3,611,000 | -9,284,000 | -8,032,000 | -1,388,000 | -570,000 | -2,141,000 |
loss on debt extinguishment | |||||||||||||||||
impairment charges | 0 | 455,000 | 66,000 | 0 | 1,921,000 | 5,492,000 | |||||||||||
other non-cash items | 843,000 | 41,000 | -331,000 | -306,000 | 472,000 | 74,000 | -42,000 | -75,000 | 696,000 | 106,000 | -162,000 | 61,000 | 914,000 | 215,000 | 558,000 | 420,000 | 223,000 |
changes in operating assets and liabilities: | |||||||||||||||||
accounts receivable | -5,835,000 | 3,000 | 1,531,000 | 13,421,000 | -10,943,000 | -4,681,000 | 224,000 | 2,586,000 | -3,471,000 | 121,000 | 384,000 | 1,605,000 | 1,536,000 | 3,773,000 | -4,445,000 | -48,000 | 1,664,000 |
contract assets – commissions receivable | -215,767,000 | 9,325,000 | 6,438,000 | 77,048,000 | -186,499,000 | 17,885,000 | 13,602,000 | 73,095,000 | -137,754,000 | 9,148,000 | 12,505,000 | 82,507,000 | 29,474,000 | 77,142,000 | -151,274,000 | 50,635,000 | 26,873,000 |
prepaid expenses and other assets | 2,955,000 | -7,147,000 | 464,000 | -978,000 | 5,690,000 | -11,327,000 | 971,000 | 460,000 | 10,649,000 | -12,473,000 | 1,000 | -125,000 | 2,238,000 | 12,418,000 | 12,845,000 | 4,225,000 | -159,000 |
accounts payable | 22,120,000 | 516,000 | -1,593,000 | -16,034,000 | 18,138,000 | 509,000 | -1,537,000 | -937,000 | 306,000 | 802,000 | 872,000 | -1,493,000 | -2,386,000 | -5,525,000 | 3,861,000 | -25,826,000 | -16,279,000 |
accrued compensation and benefits | 16,742,000 | 7,213,000 | -27,921,000 | 1,087,000 | 17,680,000 | 6,195,000 | -20,920,000 | 132,000 | 14,008,000 | 5,823,000 | -6,914,000 | 7,193,000 | -6,656,000 | 2,042,000 | -3,965,000 | 4,088,000 | -11,104,000 |
accrued marketing expenses | 10,624,000 | 1,511,000 | -5,024,000 | -7,541,000 | 7,404,000 | 1,366,000 | -1,562,000 | -10,936,000 | 12,917,000 | 989,000 | -2,317,000 | -15,019,000 | -9,867,000 | -16,848,000 | 25,121,000 | -6,712,000 | -7,329,000 |
deferred revenue | 1,838,000 | -1,200,000 | 660,000 | -332,000 | 550,000 | -1,173,000 | -6,046,000 | 8,080,000 | -45,000 | 1,040,000 | 655,000 | -372,000 | 1,003,000 | -223,000 | -10,220,000 | 570,000 | 113,000 |
accrued expenses and other liabilities | 110,000 | 413,000 | 934,000 | -446,000 | 192,000 | -2,255,000 | 1,040,000 | 1,284,000 | 232,000 | -1,900,000 | 794,000 | -304,000 | -6,090,000 | 4,829,000 | -1,173,000 | 1,305,000 | 2,009,000 |
net cash from operating activities | -35,949,000 | -25,313,000 | -41,204,000 | 77,121,000 | -27,662,000 | -29,283,000 | -32,182,000 | 70,761,000 | -33,386,000 | -24,681,000 | -9,428,000 | 60,803,000 | -25,766,000 | 47,112,000 | -102,301,000 | 42,809,000 | 8,907,000 |
capital expenditures | -2,416,000 | -3,623,000 | -5,843,000 | -3,426,000 | -3,323,000 | -4,189,000 | -2,854,000 | -2,490,000 | -1,992,000 | -4,212,000 | -2,344,000 | -2,231,000 | -4,343,000 | -4,260,000 | -4,714,000 | -5,141,000 | -6,072,000 |
free cash flows | -38,365,000 | -28,936,000 | -47,047,000 | 73,695,000 | -30,985,000 | -33,472,000 | -35,036,000 | 68,271,000 | -35,378,000 | -28,893,000 | -11,772,000 | 58,572,000 | -30,109,000 | 42,852,000 | -107,015,000 | 37,668,000 | 2,835,000 |
investing activities: | |||||||||||||||||
capitalized internal-use software and website development costs | -2,273,000 | -3,409,000 | -4,258,000 | -3,118,000 | -2,692,000 | -3,191,000 | -2,593,000 | -2,286,000 | -1,665,000 | -2,826,000 | -2,038,000 | -2,164,000 | -4,171,000 | -4,205,000 | -4,403,000 | -3,242,000 | -3,564,000 |
purchases of property and equipment and other assets | -143,000 | -214,000 | -1,585,000 | -308,000 | -631,000 | -998,000 | -261,000 | -204,000 | -327,000 | -1,386,000 | -306,000 | -67,000 | -172,000 | -55,000 | -311,000 | -1,899,000 | -2,508,000 |
purchases of marketable securities | 0 | -12,132,000 | -34,516,000 | -27,362,000 | -11,105,000 | -48,489,000 | -23,594,000 | -13,797,000 | -5,912,000 | 0 | -26,593,000 | -22,009,000 | -4,464,000 | -3,938,000 | -14,091,000 | -7,771,000 | -58,064,000 |
proceeds from redemption and maturities of marketable securities | 8,800,000 | 39,450,000 | 30,240,000 | 36,260,000 | 22,420,000 | 20,000,000 | 13,000,000 | 6,000,000 | 8,500,000 | 28,500,000 | 10,950,000 | 34,319,000 | 42,996,000 | 23,409,000 | |||
net cash from investing activities | 6,384,000 | 23,695,000 | -10,119,000 | 5,472,000 | 7,992,000 | -32,678,000 | -13,448,000 | -10,287,000 | 596,000 | 24,288,000 | -16,537,000 | -24,240,000 | 2,143,000 | 26,121,000 | 24,191,000 | 10,497,000 | |
financing activities: | |||||||||||||||||
repayment of term loan credit facility | |||||||||||||||||
proceeds from revolving credit facility, net of costs | |||||||||||||||||
payments of deferred financing costs | |||||||||||||||||
net proceeds from exercise of common stock options and employee stock purchases | 215,000 | 0 | 0 | 0 | 415,000 | 0 | 0 | 1,054,000 | 3,716,000 | ||||||||
repurchase of shares to satisfy employee tax withholding obligations | -337,000 | -276,000 | -1,127,000 | -699,000 | -1,112,000 | -450,000 | -596,000 | -1,255,000 | -1,395,000 | -884,000 | -623,000 | -428,000 | -1,926,000 | -508,000 | -1,365,000 | -5,037,000 | -4,375,000 |
principal payments in connection with leases | 0 | 0 | 0 | -4,000 | -5,000 | -8,000 | -14,000 | -11,000 | -29,000 | -35,000 | -24,000 | -38,000 | -58,000 | ||||
payments of preferred stock dividends | -2,994,000 | 0 | -2,821,000 | 0 | -2,660,000 | 0 | |||||||||||
net cash from financing activities | 40,107,000 | -1,276,000 | -3,844,000 | -699,000 | -4,983,000 | -450,000 | -2,982,000 | -1,259,000 | -3,645,000 | -892,000 | -1,248,000 | -439,000 | -1,955,000 | 65,373,000 | 2,327,000 | -4,790,000 | 215,931,000 |
effect of exchange rate changes on cash, cash equivalents and restricted cash | 94,000 | 63,000 | -5,000 | 1,000 | -182,000 | 99,000 | -30,000 | 49,000 | 39,000 | 69,000 | -235,000 | 108,000 | -244,000 | 31,000 | -25,000 | -2,000 | |
net increase in cash, cash equivalents and restricted cash | 10,636,000 | -2,831,000 | -55,172,000 | 81,895,000 | -62,312,000 | -48,642,000 | 59,264,000 | -36,396,000 | -1,216,000 | -27,448,000 | 36,232,000 | -25,822,000 | 138,637,000 | -75,719,000 | 48,491,000 | 160,700,000 | |
cash, cash equivalents and restricted cash at beginning of period | 0 | 0 | 0 | 42,287,000 | 0 | 0 | 0 | 118,812,000 | 0 | 0 | 0 | 147,640,000 | 0 | 85,165,000 | 0 | 47,113,000 | 26,820,000 |
cash, cash equivalents and restricted cash at end of period | 10,636,000 | -2,831,000 | -55,172,000 | 124,182,000 | -24,835,000 | -62,312,000 | -48,642,000 | 178,076,000 | -36,396,000 | -1,216,000 | -27,448,000 | 183,872,000 | -25,822,000 | 223,802,000 | -75,719,000 | 95,604,000 | 187,520,000 |
supplemental disclosure of cash flows | |||||||||||||||||
cash paid for interest | |||||||||||||||||
net loss | -31,691,000 | -42,473,000 | -27,968,000 | -16,984,000 | 52,190,000 | -37,025,000 | -23,501,000 | -19,878,000 | -37,502,000 | -32,742,000 | |||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||
payment of deferred financing costs | |||||||||||||||||
payment of debt issuance costs | |||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | |||||||||||||||||
cash payments for income taxes | |||||||||||||||||
amortization of intangible assets | 120,000 | 176,000 | 547,000 | ||||||||||||||
proceeds from issuance of preferred stock, net of issuance costs | 0 | ||||||||||||||||
net proceeds from debt financing | 0 | 64,862,000 | |||||||||||||||
cash refunds from (payments for) income taxes | |||||||||||||||||
proceeds from issuance of common stock, net of issuance costs | 228,024,000 | ||||||||||||||||
acquisition-related contingent payments | -8,751,000 | ||||||||||||||||
change in fair value of earnout liability | |||||||||||||||||
payments for security deposits | |||||||||||||||||
debt issuance costs | |||||||||||||||||
repayment of debt | |||||||||||||||||
cash refunds from income taxes | |||||||||||||||||
net proceeds from exercise of common stock options | 285,000 | 1,091,000 | |||||||||||||||
cash from investing activities | -64,136,000 | ||||||||||||||||
operating activities | |||||||||||||||||
commissions receivable | |||||||||||||||||
accrued restructuring charges | |||||||||||||||||
investing activities | |||||||||||||||||
acquisition of business, net of cash acquired | |||||||||||||||||
financing activities | |||||||||||||||||
proceeds from line of credit | |||||||||||||||||
supplemental disclosure of non-cash investing and financing activities | |||||||||||||||||
cash refunds from (paid for) income taxes |
