BHG - Bright Health jumps after 1Q revenue beat

The shares of Bright Health Group (BHG) have recorded the biggest intraday gain since March after the health insurer reported better than expected revenue for the first quarter of 2022. Quarterly revenue increased ~110% YoY to $1.8B as Bright HealthCare Commercial Consumers and Bright HealthCare Medicare Advantage Consumers more than doubled from year-ago levels to 1.0M and 120K, respectively. Meanwhile, the company’s NeueHealth segment, which offers virtual and in-person clinical care, reported 530K value-based patients compared to only 30K patients at the end of 1Q 2021. The Medical Cost Ratio increased to 84.8% from 79.5% a year ago, and GAAP while net loss and negative adj. EBITDA widened ~636% YoY and 441% YoY to $180.6M and $74.8M, respectively. Bright Health (BHG) reaffirmed its full-year guidance indicating $6.8M – $7.1B in total revenue and $500M – $800M negative adj. EBITDA. In March, the company shares plunged after the company’s 4Q results for

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Bright Health jumps after 1Q revenue beat