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NeueHealth, Inc. (formerly known as Bright Health Group, Inc.) ( NeueHealth, we, our, us, or the Company ), was founded in 2015 to transform healthcare. NeueHealth consists of two reportable segments: NeueCare Our value-driven care delivery business that manages risk in partnership with external payors and serves all populations across The Patient Protection and Affordable Care Act and the Heal…
The business is unprofitable at the operating level (-11.47% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 19.3% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$126M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$890M
▼ -19.3% YoY
Net Income (TTM)
-$82M
▲ +88.3% YoY
Op. Margin
-3.35%
▲ +38.2pp YoY
ROIC
-12.17%
▲ +94.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$74M
▲ +95.4% YoY
Op. Cash Flow (TTM)
-$70M
▲ +95.5% YoY
Net Debt
$69M
Cash & Equiv.
$146M
5Y CAGR: +27.3%
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