GoHealth, Inc. (NASDAQ:GOCO) Q1 2024 Earnings Conference Call May 9, 2024 8:00 AM ET

Company Participants

John Shave - Vice President, Investor Relations
Vijay Kotte - Chief Executive Officer
Jason Schulz - Chief Financial Officer

Conference Call Participants

Ben Hendrix - RBC Capital Markets
Pat McCann - Noble Capital Markets
Jim Sidoti - Sidoti

Operator

Good morning and welcome to GoHealth’s First Quarter 2024 Earnings Conference Call. My name is Victor and I will be operator for today’s call. [Operator Instructions] Following the prepare remarks we will conduct a question-and-answer session. As a reminder, this conference is being recorded. I will turn the call over to John Shave, Vice President of Investor Relations. John, you may begin.

John Shave

Thank you and good morning. Welcome to GoHealth’s first quarter 2024 earnings call. Joining me today are Vijay Kotte, Chief Executive Officer and Jason Schulz, Chief Financial Officer.

Today’s conference call contains forward-looking statements based on our current expectations. Numerous known and unknown 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 any undue reliance on forward-looking statements and the company undertakes no obligation to update or revise any of these statements, whether due to new information, future events or otherwise.

Earlier today, we issued a press release containing our first quarter results in 2024. We have posted the release on the GoHealth website under the Investor Relations tab. In the press release, we have listed a number of risk factors that you should consider in conjunction with our forward-looking statements. We encourage you to consider the other risk factors described in our Annual Report on Form 10-K filed with the Securities and Exchange Commission for additional information.

During this call, we will be discussing certain non-GAAP financial measures. These measures are reconciled to the most directly comparable GAAP financial measure and the reconciliations are set forth in the press release. You may also refer to the investor presentation posted to the Investor Relations section of our website for reconciliations of non-GAAP measures to the most comparable GAAP measures discussed this earnings call.

I will now turn the call over to GoHealth’s CEO, Vijay Kotte.

Vijay Kotte

Thank you, John and good morning everyone. I am excited to share our first quarter results with you today. Our performance during Q1’s open enrollment period exceeded our expectations for submission, revenue and adjusted EBITDA. Notably, our internal captive channel grew submission volume by 20% year-over-year. In response to the challenging market dynamics observed during the annual enrollment period, we enhanced our targeted marketing efforts and successfully identified consumers in need of new plan option.