NYSE$NEUE

NeueHealth Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Bright Health Group reported a strong start to the year with solid performance and revenue increase.

Bright Health Group reported a revenue of $1.8 billion, up 109.9% from Q1'21. The GAAP Net Loss was $180.6 million and the Adjusted EBITDA loss was $74.8 million. The company served 1.16 million Bright HealthCare members and over 530,000 NeueHealth value-based patients.

  • Revenue of $1.8 billion, up 109.9% from Q1'21.
  • Adjusted EBITDA loss of $74.8 million.
  • GAAP Net Loss of $180.6 million.
  • Enterprise Medical Cost Ratio of 84.8%, Bright HealthCare Medical Cost Ratio of 83.1%.

Headline financials

Total Revenue

$1.84B

Previous: $253M+626.2%
EPS (adj)

-$25.60

Previous: -$14.40-77.8%
Operating Cost Ratio

22.8%

No prior period
Capital Expenditures

-$5.49M

Previous: $4.22M-230.3%
Free Cash Flow

$479M

Previous: $339M+41.2%
Net Income

-$195M

Previous: -$25.2M-675.9%
Operating Income

-$177M

Previous: -$22.8M-675.1%
Gross Profit

$1.84B

Previous: $253M+626.2%
Cash & Equivalents

$1.51B

Previous: $976M+54.3%
Total Assets

$5.28B

No prior period
Stock-Based Comp

$32.9M

Previous: $5.18M+536.0%

Revenue & EPS history

NeueHealth · Revenue · Quarterly

$1.84B

Q1 2022+626.2%vs Q1 2021
Beat estimate in 2 of 7 quarters(29%)
ActualEstimate

Forward guidance

Bright Health Group provided full year 2022 guidance, expecting total Revenue between $6.8 billion and $7.1 billion with an enterprise Medical Cost Ratio between 90% and 94%.

Tailwinds

  • Total Revenue is expected to be $6.8 billion to $7.1 billion.
  • Bright HealthCare end-of-year membership is expected to be approximately 1,000,000.
  • NeueHealth Revenue is expected to be approximately $2.3 billion.
  • Intercompany Revenue elimination is expected to be approximately $1.2 to $1.4 billion.
  • Adjusted EBITDA for 2022 is expected to be a loss of between $500.0 and $800.0 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-2.0%

Avg return

Earnings day

-6.9%

Avg return

5 days after

-17.7%

Avg return

30 days after

45%

10 / 22 earnings

Positive

+46.5%

Q1 2023

Best reaction

-43.1%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2025
Q2 2025+0.0%-2.2%-2.1%
Q1 2025-2.2%-0.4%-1.5%
Q4 2024+8.9%+30.9%+29.9%
Q3 2024+2.2%+2.5%+7.8%
Q2 2024-3.6%+2.3%-4.4%
Q1 2024-4.0%-3.7%-14.3%
Q4 2023+7.6%-6.0%-27.7%
Q3 2023-1.5%-10.2%-15.5%
Q2 2023-21.8%-27.8%-61.3%
Q1 2023+46.5%+7.2%-14.1%
Q4 2022-43.1%-48.8%-77.2%
Q3 2022+4.3%-3.7%-15.3%
Q2 2022-9.3%+2.1%-15.1%
Q1 2022+35.7%+26.0%-0.6%
Q4 2019-2.6%-1.3%-16.4%
Q4 2021-29.5%-42.9%-35.6%
Q3 2020+1.3%-13.1%-15.4%
Q3 2021-35.1%-34.4%-40.5%
Q2 2020+5.1%
Q1 2021+5.1%
Q4 2020+5.1%
Q2 2021-13.6%

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