Health Insurance Innovations, Inc. Reports Record Third Quarter 2016 Financial And Operating Results

Record Q3 2016 Revenue of $46.1 million, up 79 % YOY Record Q3 2016 Earnings per Share of $0. 25 Record Q3 2016 Adjusted Earnings per Share of $0.33 Policies in force totaled approximately 252,100, up 84% YOY Revised 2016 guidance upward

TAMPA, Fla., Nov. 02, 2016 (GLOBE NEWSWIRE) -- Health Insurance Innovations, Inc. (HII) (NASDAQ:HIIQ), a leading developer, distributor, and virtual administrator of affordable health insurance and supplemental plans announced financial results for the third quarter ended September 30, 2016.  The Company will host a live conference call on Thursday, November 3, 2016 at 8:30 A.M. EST.

Third Quarter 2016 Consolidated Financial Highlights
  • Revenue was $46.1 million, an increase of 78.7% over $25.8 million in the third quarter of 2015.
  • Total collections from customers, which our industry refers to as premium equivalents, of $78.5 million, an increase of 81.0% over $43.4 million in the third quarter of 2015.
  • Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $8.1 million, compared to $1.9 million in the third quarter of 2015.
  • GAAP Net Income per diluted share for the third quarter of 2016 was $0.25, compared to $0.10 in the third quarter of 2015.
  • Adjusted EPS, also referred to as Adjusted Net Income per Share, was $0.33 in the third quarter of 2016 compared to $0.08 in the third quarter of 2015. 
  • Policies in force as of September 30, 2016, totaled approximately 252,100, an 84% increase from 136,800 as of September 30, 2015.

Premium equivalents, adjusted EBITDA, and adjusted EPS are non-GAAP financial measures.  See the reconciliations of these measures to their respective most directly comparable GAAP measure below in this press release.

Revised 2016 Full Year Guidance

For the full year 2016 we expect Revenue to grow between 60% and 70% year-over-year ($170 million to $175 million) and Adjusted EPS to grow between 210% and 240% ($0.85 to $0.92).

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