eHealth (EHTH) Q2 FY26 earnings call

eHealth launched its lifetime advisory model in Q2 FY26, shifting focus to member engagement and retention, which led to a 45% revenue decline but also a significant $36.2 million improvement in operating cash flow. The company is on track for substantial cost savings and expects a return to sustainable revenue growth and improved cash flow profile in 2027, driven by this new model, ICHRA expansion, and AI initiatives.