GoHealth, Inc.GOCOQ
GoHealth, Inc. Revenue Disclosure
REVENUE
The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. The primary services provided by the Company relate to the sale and administration of Medicare insurance products through either the agency model or the non-agency model, as described below. Refer to Note 1, “Description of Business and Significant Accounting Policies” for more information about the Company’s revenues.
Disaggregation of Revenue
The table below depicts the disaggregation of revenue and is consistent with how the Company evaluates its financial performance:
| Twelve months ended Dec. 31, | ||||||||||||||||||||
| (in thousands) | 2024 | 2023 | 2022 | |||||||||||||||||
| Medicare Revenue | ||||||||||||||||||||
| Agency Revenue | ||||||||||||||||||||
Commission Revenue1 | $ | 506,516 | $ | 355,918 | $ | 316,734 | ||||||||||||||
| Partner Marketing and Other Revenue | 75,160 | 87,712 | 112,983 | |||||||||||||||||
| Total Agency Revenue | 581,676 | 443,630 | 429,717 | |||||||||||||||||
| Non-Agency Revenue | 212,289 | 271,969 | 107,336 | |||||||||||||||||
| Total Medicare Revenue | 793,965 | 715,599 | 537,053 | |||||||||||||||||
| Other Revenue | ||||||||||||||||||||
| Non-Encompass BPO Services Revenue | — | 9,322 | 87,383 | |||||||||||||||||
| Other Revenue | 4,929 | 9,750 | 7,239 | |||||||||||||||||
| Total Other Revenue | 4,929 | 19,072 | 94,622 | |||||||||||||||||
| Total Net Revenue | $ | 798,894 | $ | 734,671 | $ | 631,675 | ||||||||||||||
(1)Commission revenue excludes commissions generated through the Company’s Non-Encompass BPO Services as well as from the sale of individual and family plan insurance products.
Medicare Revenue: The primary services provided by the Company relate to the sale and administration of Medicare insurance products through either the agency model or the non-agency model. The agency model refers to the commission revenue and partner marketing and other revenue the Company receives when GoHealth agents or the Company’s independent network of outsourced agents, or external agents, enroll the consumer and submit the policy application to the health plan partner, becoming the agent of record. Non-agency revenue refers to services provided by the Company that support enrollment and engagement activities in which the Company is not the agent of record.
Other Revenue: Other revenue is comprised of Non-Encompass BPO Services, which refers to programs in which GoHealth-employed agents are dedicated to certain health plans and agencies the Company partners with outside of the Encompass operating model. These services include commission revenue and partner marketing and other revenue that is directly attributable to Non-Encompass BPO Services. The remaining revenue relates primarily to revenue generated from the sale of individual and family plan insurance products and ancillary services.
Contract Balances
The Company records commissions receivable, commissions payable and deferred revenue related to its contracts with customers. Commissions receivable represents estimated variable consideration for commissions to be received from health plan partners for performance obligations that have been satisfied. Commissions payable represents estimated commissions to be paid to the Company’s external partners.
The Company had unbilled receivables for performance-based enrollment fees and non-agency revenue, as well as prepaid expenses for revenue share, as of December 31, 2024 and 2023 of $20.9 million and $36.0 million, respectively, which are recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets. In addition, the Company had accrued payments for revenue share of $29.8 million and $14.8 million as of December 31, 2024 and 2023, respectively, which are recorded in accrued liabilities.
Deferred revenue includes amounts collected for partner marketing services and non-agency revenue in advance of the Company satisfying its performance obligations for such customers. The slight increase in deferred revenue during the twelve months ended December 31, 2024 compared to the prior year period was primarily due to more cash received as of December 31, 2024 compared to December 31, 2023 for marketing, administrative and enrollment fees in advance of performing such services that the Company expects to satisfy within the next twelve months. During the twelve months ended December 31, 2024, 2023 and 2022, the Company recognized revenue that was recorded in deferred revenue on the Consolidated Balance Sheets at the beginning of the respective fiscal year of $51.1 million, $45.3 million and $0.1 million, respectively.
Significant Customers
The following table presents health plan partners representing 10% or more of the Company’s total revenue for the periods indicated:
| Twelve months ended Dec. 31, | ||||||||||||||||||||
| 2024 | 2023 | 2022 | ||||||||||||||||||
| United | 28.3 | % | 20.0 | % | 18.4 | % | ||||||||||||||
| Humana | 25.1 | % | 28.0 | % | 25.6 | % | ||||||||||||||
| Elevance | 17.5 | % | 19.4 | % | 22.6 | % | ||||||||||||||
Aetna | 10.7 | % | 16.8 | % | 9.1 | % | ||||||||||||||
Centene | 10.5 | % | 8.1 | % | 11.4 | % | ||||||||||||||
Free Sentinel
Track for freeWant the next GoHealth, Inc. revenue disclosure the moment it drops?
Set a Sentinel and we'll alert you the moment GoHealth, Inc.'s next filing hits EDGAR. No credit card, your email never gets sold.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Feb 27, 2025 | Showing above |
| 2023 | Mar 14, 2024 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.