GoHealth, Inc. (GOCO) stock plummeted 29.59% in the current-market trading session at the price of $1.40 after reporting its preliminary financial results for the fourth quarter and year 2021.
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GOCO is a leading Medicare-focused digital health insurance firm. Its vision is to enhance access to healthcare facilities in America. The company integrates data science, advanced technology, and in-depth market expertise to provide services for the clients.
GOCO Q4 2021 Financial Highlights
On 1st March 2022, GOCO published its preliminary financial and operating results for the fourth quarter ended 31st December 2021. For the Q4 of 2021, GOCO expects revenue to range from $425.0M to $470.0M. Net revenue was $445.9M for the same period of 2020. Net loss has anticipated ranging from $52.7M to $38.8M for the Q4 of 2021. The company has a net loss of $133.1M for the same period of 2020.
For the year 2021, GOCO expects revenue to be from $1,040M to $1,085.0M. Net revenue was $877.4M for the year ended 31st December 2020. Net loss has expected to be from $155M to $141.0M for the year ended 31st December 2021. The company has a net income of $97.2M for the previous year. Adjusted EBITDA has expected to range from $26.5M to $40.5M for 2021.
Chief Executive Officer of GOCO, Clint Jones, thanked all workers for their outstanding efforts during the challenging circumstances. They had assisted and registered one million customers in Medicare during 2021. They are happy to surpass MA Approved Submissions and revenue expectations during 2021, Jones added.
GOCO had undergone significant strains resulting from rising customer shopping with more than desired labor and associated charges. It resulted in lower Adjusted EBITDA and LTV results during the year. These outcomes are highly unacceptable for the company. Moving onwards, they will improve their financial and operational performance. GOCO will provide further details regarding its 2021 performance and 2022 financial guidance, Jones concluded.