Health Insurance Innovations, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Year 2017
November 01, 2017 at 04:05 pm EDT
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Health Insurance Innovations, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company announced revenues were $63,335,000 compared to $46,108,000 for the same period a year ago. Income from operations was $8,912,000 compared to $6,639,000 for the same period a year ago. Income before income taxes was $8,891,000 compared to $6,714,000 for the same period a year ago. Net income attributable to the company was $3,885,000 compared to $1,939,000 for the same period a year ago. Diluted earnings per share attributable to the company were $0.30 compared to $0.25 for the same period a year ago. EBITDA was $9,917,000 compared to $7,447,000 for the same period a year ago. Adjusted EBITDA was $12,842,000 compared to $8,093,000 for the same period a year ago. Adjusted pre-tax income was $12,293,000 compared to $7,785,000 for the same period a year ago. Adjusted net income was $7,622,000 compared to $4,827,000 for the same period a year ago. Adjusted net income per share was $0.46 compared to $0.33 for the same period a year ago.
For the nine months, the company announced revenues were $180,986,000 compared to $133,092,000 for the same period a year ago. Income from operations was $25,721,000 compared to $14,718,000 for the same period a year ago. Income before income taxes was $25,696,000 compared to $14,191,000 for the same period a year ago. Net income attributable to the company was $14,102,000 compared to $4,701,000 for the same period a year ago. Diluted earnings per share attributable to the company were $1.21 compared to $0.61 for the same period a year ago. EBITDA was $28,652,000 compared to $16,611,000 for the same period a year ago. Adjusted EBITDA was $34,983,000 compared to $18,892,000 for the same period a year ago. Adjusted pre-tax income was $33,527,000 compared to $18,167,000 for the same period a year ago. Adjusted net income was $20,787,000 compared to $11,264,000 for the same period a year ago. Adjusted net income per share was $1.28 compared to $0.77 for the same period a year ago.
Given the record financial performance and long-term prospects, the company is increasing its guidance for the full year 2017. The company expects revenue to grow 27% to 30% year-over-year with expected revenue of $235 million to $240 million, adjusted EBITDA to grow 48% to 58% year-over-year, with expected adjusted EBITDA of $41 million to $44 million and adjusted EPS to grow 34% to 43%, with expected adjusted EPS of $1.50 to $1.60. The company previously guided to full year revenue of $225 million to $230 million, adjusted EBITDA of $39 million to $42 million and adjusted EPS of $1.45 to $1.55.
Benefytt Technologies Inc (Benefytt) is a United States-based health insurance technology company. The Company primarily engages in the development and operation of private e-commerce health insurance marketplaces, consumer engagement platforms, agency technology systems and insurance policy administration platforms. It offers a range of Medicare-related insurance plans from carriers as well as other types of health insurance and supplemental products that meet the needs of consumers.
Health Insurance Innovations, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Year 2017