Actionable news
0
All posts from Actionable news
Actionable news in HIIQ: Health Insurance Innovations, Inc.,

Health Insurance Innovations, Inc. Reports Record Second Quarter 2016 Financial and Operating Results

Record Q2 2016 Revenue of $44.5 million, up 96% YOY
Q2 2016 Earnings per Share of $0.24
Q2 2016 Adjusted Earnings per Share of $0.27
Record policies in force totaled approximately 258,400, up 128% YOY
Revised 2016 guidance upward

TAMPA, Fla., Aug. 08, 2016 (GLOBE NEWSWIRE) -- Health Insurance Innovations, Inc. (HII) (HIIQ), a leading developer, distributor, and virtual administrator of affordable health plans announced financial results for the second quarter ended June 30, 2016. The Company will host a live conference call on Tuesday, August 9, 2016 at 8:30 A.M. EST.

Second Quarter 2016 Consolidated Financial Highlights

  • Record revenue was $44.5 million, an increase of 95.6% over $22.7 million in the second quarter of 2015.
  • Record total collections from customers, which our industry refers to as premium equivalents, of $77.0 million, an increase of 99.8% over $38.5 million in the second quarter of 2015.
  • Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $6.5 million, compared to $1.8 million in the second quarter of 2015.
  • GAAP Net Income per diluted share for the second quarter of 2016 was $0.24, compared to negative $0.04 in the second quarter of 2015.
  • Adjusted EPS, also referred to as Adjusted Net Income per Share, was $0.27 in the second quarter of 2016 compared to $0.08 in the second quarter of 2015.
  • Record policies in force as of June 30, 2016, totaled approximately 258,400, a 128% increase from 113,200 as of June 30, 2015.

See the reconciliations for premium equivalents, adjusted EBITDA, and adjusted EPS within this press release.

Revised 2016 Full Year Guidance

For the full year 2016 we expect Revenue...


More