Why GoHealth Stock Slumped Today
Shares of GoHealth (NASDAQ: GOCO) slumped today, down by 12% as of 12:25 p.m. EDT, after the company reported second-quarter earnings. The health insurance specialist swung to a net loss despite a jump in revenue.
Revenue in the second quarter increased 71% to $127.1 million, which was ahead of the $124.2 million in sales that analysts were expecting. That resulted in a net loss of $22.9 million, compared to a net profit of $15.3 million a year ago. The health insurance company said its LTV/CAC (lifetime value of commissions per customer acquisition cost) for its Medicare-Internal segment increased from a ratio of 2.3 to 2.7 during the first half of 2020.
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Source Fool.com
