Significant Revenue and Profitability Growth
First quarter revenue grew 22% to $113.1 million, with GAAP net income of $2 million and adjusted EBITDA of $12.5 million. Medicare submissions increased by 22% year-over-year.
Improved Medicare Segment Performance
Medicare segment revenue was $103.7 million, a 26% increase. The segment's gross profit rose 62%, driven by enhanced unit economics and lower acquisition costs.
Innovative Technological Advancements
Launched an AI pilot program to enhance telephonic enrollment, receiving positive initial results and customer feedback.
Strong Cash Position and Collections
Ended the quarter with $155.6 million in cash and short-term marketable securities, driven by robust cash collections from Medicare enrollments.