BHG - Bright Health Group GAAP EPS of -$8.55 revenue of $298M

2023-08-09 06:52:11 ET

• Bright Health Group press release ( NYSE: BHG ): Q2 GAAP EPS of -$8.55.
• Revenue of $298M (+99.5% Y/Y).
• Value-Based Consumers served of 371,000, an increase of 214% on a comparable basis from last year on strong growth in Care Delivery

• Bright Health is revising its 2023 financial outlook to reflect the movement of our California Medicare Advantage business to Held for Sale accounting.

  • Bright Health’s Enterprise Revenue is expected to be between $1.15 billion and $1.2 billion
  • On a segment basis, Care Solutions Revenue is expected to be between $900 million and $925 million, while Care Delivery Revenue is expected to be between $250 million and $275 million
  • Enterprise Adjusted Operating Cost Ratio is expected to be between 17.5% and 18.5%
  • Bright Health expects to be Adjusted EBITDA profitable in 2023

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