Health Insurance Innovations, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue was $74.013 million against $63.335 million a year ago, driven by an increase in policies in force resulting from lower lapse rates, higher average premium, favorable commission margins, and improved discount benefit plan offerings. Income from operations was $6.218 million against $8.912 million a year ago. Net income before income taxes was $5.453 million against $8.891 million a year ago. Net income attributable to the company was $3.044 million against $3.885 million a year ago. Diluted earnings per share were $0.22 against $0.30 a year ago. EBITDA was $6.738 million against $9.917 million a year ago. Adjusted EBITDA was $14.030 million against $12.942 million a year ago. Adjusted pretax income was $13.224 million against $12.393 million a year ago. Adjusted net income was $10.050 million against $7.684 million a year ago. Adjusted net income per share was $0.61 against $0.46 a year ago.

For the nine months, the company reported revenue was $213.487 million against $180.986 million a year ago. Income from operations was $19.525 million against $25.721 million a year ago. Net income before income taxes was $18.755 million against $25.696 million a year ago. Net income attributable to the company was $10.056 million against $14.102 million a year ago. Diluted earnings per share were $0.76 against $1.21 a year ago. Net cash provided by operating activities was $20.075 million against $40.611 million a year ago. Capitalized internal-use software was $1.290 million against $2.104 million a year ago. Purchases of property and equipment was $0.534 million against $0.239 million a year ago. EBITDA was $22.371 million against $28.652 million a year ago. Adjusted EBITDA was $40.133 million against $35.443 million a year ago. Adjusted pretax income was $37.869 million against $33.987 million a year ago. Adjusted net income was $28.780 million against $21.072 million a year ago. Adjusted net income per share was $1.73 against $1.30 a year ago.

The company raised its annual guidance of revenue for the year ending December 31, 2018 to be between $294 million and $304 million, or grow approximately 17% to 21%, year-over-year, adjusted EBITDA to be between $56 million and $59 million, or grow approximately 24% to 30% year-over-year, and reaffirms adjusted EPS to be between $2.47 and $2.57, or grow approximately 50% to 56% year-over-year. These guidance numbers are based on the company's current method of accounting for revenue.