CORRECTING AND REPLACING -- HIIQ CEO Gavin Southwell Delivers Keynote Address at Insurtech Insights – Europe’s Largest In...
21 Março 2019 - 9:09PM
In a release issued earlier today by Health Insurance Innovations,
Inc. (NASDAQ:HIIQ), please note that the full year
guidance has been corrected and a forward-looking
statement has been added. The corrected release follows:
Health Insurance Innovations,
Inc. (NASDAQ:HIIQ), a leading cloud-based technology platform
and distributor of affordable health insurance, life insurance and
supplemental plans, today announced that President & CEO Gavin
Southwell presented a Keynote address at Insurtech Insights –
Europe’s largest Insurtech conference on how HIIQ uses data and
technology to successfully deliver value to consumers.
“HIIQ helps individuals and their families in America by
providing affordable solutions that meet their demands and needs,
all whilst achieving market leading consumer satisfaction,”
Southwell said.
Mr. Southwell highlighted the new mobile application for
MyBenefitsKeeper, which allows members to have access at their
fingertips to critical features like the ability to speak with a
doctor over the phone or video conference, update payment
information and search for a doctor in the member’s area.
He also discussed how the operational improvements in compliance
and customer service, since he became CEO in 2016, have been
recognized by a recent Multi-State regulatory review. The review
has been closed without any issues identified and without payment
of any fine or penalty.
“Rightly so, health insurance is very highly regulated at the
state and federal level. We are very satisfied that the most
detailed regulatory review possible, conducted over a multi-year
period, and covering all aspects of our business, identified no
issues. This has allowed us the opportunity to work with regulators
to continue to strengthen our controls,” concluded Mr.
Southwell.
2019 Full Year Guidance
The Company confirms that it expects annual revenue for 2019 to
grow 22% to 25% year-over-year (with expected revenue in the range
of $430 million to $440 million for 2019), adjusted EBITDA to grow
21% to 30% year-over-year (with expected adjusted EBITDA in the
range of $72.0 million to $77.0 million for 2019) and adjusted net
income per share to grow 23% to 29% (with expected adjusted net
income per share in the range of $3.20 to $3.35 for 2019).
The Company has repurchased $45.3 million of HIIQ shares in the
open market in 2019 and believes HIIQ’s shares continue to
represent a compelling value at current levels given the size of
the market opportunities we are pursuing and our track record of
delivering strong growth in revenues and earnings.
About Health Insurance Innovations,
Inc. (HIIQ)
Health Insurance Innovations, Inc. (HIIQ) is a market
leading cloud-based technology platform and distributor of
innovative health insurance products that are affordable and meet
the needs of health insurance plan consumers. HIIQ helps develop
insurance products through our relationships with best-in-class
insurance companies and markets them via its broad distribution
network of third-party licensed insurance agents across the nation,
its call center network and its unique online capability.
Additional information about HIIQ can be found at HiiQ.com.
HIIQ’s Consumer Division includes AgileHealthInsurance.com, a
website for researching, comparing and purchasing insurance
products online, and HealthPocket.com, a free website that
compares and ranks all health insurance plans and uses objective
data to publish unbiased health insurance market analyses and other
consumer advocacy research.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements are statements other than
historical fact, and may include statements relating to goals,
plans and projections regarding new markets, products, services,
growth strategies, anticipated trends in our business and
anticipated changes and developments in the United States health
insurance system and laws. Forward-looking statements are based on
HIIQ’s current assumptions, expectations and beliefs are generally
identifiable by use of words “may,” “might,” “will,” “should,”
“expects,” “plans,” “anticipates,” “believes,” “estimates,”
“predicts,” “potential” or “continue,” or similar expressions and
involve significant risks and uncertainties that could cause actual
results, developments and business decisions to differ materially
from those contemplated by these statements. These risks and
uncertainties include, among other things, our ability to maintain
relationships and develop new relationships with health insurance
carriers and distributors, our ability to retain our members, the
demand for products offered through our platform, state regulatory
oversight and examinations of us and our carriers and distributors,
legal and regulatory compliance by our carriers and distributors,
the amount of commissions paid to us or changes in health insurance
plan pricing practices, competition, changes and developments in
the United States health insurance system and laws, and HIIQ’s
ability to adapt to them, the ability to maintain and enhance our
name recognition, difficulties arising from acquisitions or other
strategic transactions, and our ability to build the necessary
infrastructure and processes to maintain effective controls over
financial reporting. These and other risk factors that could cause
actual results to differ materially from those expressed or implied
in our forward-looking statements will be discussed in HIIQ's
Annual Report on Form 10-K filed with the Securities and Exchange
Commission (SEC) as well as other documents that may be filed by
HIIQ from time to time with the Securities and Exchange Commission,
which are available at www.sec.gov. Any forward-looking statement
made by us in this press release is based only on information
currently available to us and speaks only as of the date on which
it is made. You should not rely on any forward-looking statement as
representing our views in the future. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Non-GAAP Financial Information
HIIQ has not reconciled adjusted EBITDA guidance or adjusted EPS
guidance to GAAP net income or GAAP net income per diluted share,
respectively, because HIIQ does not provide guidance for the
reconciling items between these measures and GAAP net income or
GAAP net income per diluted share, respectively. As certain of the
items that impact GAAP net income and/or GAAP net income per
diluted share cannot be reasonably predicted at this time, HIIQ is
unable to provide such guidance. Accordingly, a reconciliation to
net income is not available without unreasonable effort.
Health Insurance Innovations, Inc.: Michael Hershberger Chief
Financial Officer (813) 397-1187 mhershberger@hiiquote.com
Investor Contact: John Evans PIR Communications (415) 309-0230
john@petrusir.com
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