Health Insurance Innovations, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Year 2017
For the nine months, the company announced revenues were $180,986,000 compared to $133,092,000 for the same period a year ago. Income from operations was $25,721,000 compared to $14,718,000 for the same period a year ago. Income before income taxes was $25,696,000 compared to $14,191,000 for the same period a year ago. Net income attributable to the company was $14,102,000 compared to $4,701,000 for the same period a year ago. Diluted earnings per share attributable to the company were $1.21 compared to $0.61 for the same period a year ago. EBITDA was $28,652,000 compared to $16,611,000 for the same period a year ago. Adjusted EBITDA was $34,983,000 compared to $18,892,000 for the same period a year ago. Adjusted pre-tax income was $33,527,000 compared to $18,167,000 for the same period a year ago. Adjusted net income was $20,787,000 compared to $11,264,000 for the same period a year ago. Adjusted net income per share was $1.28 compared to $0.77 for the same period a year ago.
Given the record financial performance and long-term prospects, the company is increasing its guidance for the full year 2017. The company expects revenue to grow 27% to 30% year-over-year with expected revenue of $235 million to $240 million, adjusted EBITDA to grow 48% to 58% year-over-year, with expected adjusted EBITDA of $41 million to $44 million and adjusted EPS to grow 34% to 43%, with expected adjusted EPS of $1.50 to $1.60. The company previously guided to full year revenue of $225 million to $230 million, adjusted EBITDA of $39 million to $42 million and adjusted EPS of $1.45 to $1.55.