GoHealth, Inc. (NASDAQ:GOCO) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET

Company Participants

Brian Farley - Chief Legal Officer

Clinton Jones - Co-Founder and Chief Executive Officer

Travis Matthiesen - Chief Financial Officer

Operator

Welcome to the GoHealth Q1 2022 Earnings Conference Call. My name is Darryl, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded.

I will now turn the call over to Brian Farley. Brian, you may begin.

Brian Farley

Thank you, and good afternoon, everyone. Thanks for joining GoHealth's First Quarter 2022 Earnings Call. Joining me today are Clint Jones, Co-Founder and Chief Executive Officer; and Travis Matthiesen, Interim Chief Financial Officer.

This afternoon's conference call contains forward-looking statements based on our current expectations. Numerous risks and uncertainties may cause actual results to differ materially from those anticipated or projected in these statements. Many of the factors that will determine future results are beyond the company's ability to control or predict. You should not place undue reliance on any forward-looking statements, and the company undertakes no obligation to update any of these statements whether due to new information, future events or otherwise.

After the market closed today, we issued a press release containing our results for the first quarter of 2022. We have posted the release on the GoHealth website under the Investor Relations tab. We have also posted on our website the presentation materials that Clint and Travis will walk through momentarily.

In the press release, we have listed a number of risk factors that you in conjunction with our forward-looking statements. Other risk factors are described in our Form 10-K and Form 10-Q reports filed with the Securities and Exchange Commission. During this call, we will be discussing certain non-GAAP financial measures. These measures are reconciled to the most directly comparable GAAP financial measures, and the reconciliations are set forth in the press release and investor presentation.

And with that, I'd like to turn the call over to Clint.

Clinton Jones

Thank you, Brian, and thank you all for joining us to review our first quarter 2022 results. As Brian mentioned, we have posted a slide deck to our Investor Relations website that we will walk through before opening up to Q&A.

Starting on Slide 4. We had a strong first quarter with revenues of $271 million and adjusted EBITDA of $11 million, which does not include the impact of our cost actions taken to date. We grew submission volume by 62% year-over-year, leveraging the investments we made in our agent force last year and continued technology enhancements. Our strategy this year is deliberately slow down and focus on operational efficiencies that will position the company for sustainable, long-term success.