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Earnings Call Summary | NeueHealth(NEUE.US) Q1 2024 Earnings Conference

moomoo AI ·  May 10 15:57  · Conference Call

The following is a summary of the NeueHealth, Inc. (NEUE) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • NeueHealth reported a consolidated Q1 revenue of $245.1 million, slightly below expectations due to lower NeueCare volume and ACO business development.

  • The company delivered a gross margin of $48.2 million and a quarterly adjusted EBITDA of $2.5 million.

  • NeueCare segment revenue was $73.6 million with an operating income of $9.8 million.

  • The NeueSolution segment posted revenue of $173.9 million and an operating loss of $2.9 million.

Business Progress:

  • The NeueCare segment has expanded in Central Florida, adding 41,000 more consumers with plans for further expansions in 2024 and beyond.

  • NeueHealth served a total of 469,000 consumers across the NeueCare and NeueSolution segments in Q1 2024.

  • Growth in partnerships within the NeueSolution segment marks it as a key driver for the future.

  • The company serves approximately 40% of the 745,000 ACA marketplace consumers in the Miami-Dade market, receiving high customer satisfaction scores.

  • The company aims to serve between 475,000 and 500,000 consumers across both segments by the end of 2024, focusing on a value-driven, consumer-centric care model.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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