0001628280-25-052376 | 10-Q | XBRL Viewer

Revenue - Schedule of Commissions Receivable Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Contract with Customer, Asset [Roll Forward]
Commission revenue	$ 34,186	$ 118,292	$ 349,206	$ 409,762
Acquisition of business			0	90,525
Less: Commissions receivable - current	238,947		238,947		$ 320,399
Commissions receivable - non-current	725,074		725,074		$ 733,161
Commission Revenue
Contract with Customer, Asset [Roll Forward]
Beginning balance			1,053,560	911,697
Commission revenue			266,946	231,479
Cash receipts			(356,544)	(336,054)
Allowance for credit loss			59	77
Ending balance	964,021	897,724	964,021	897,724
Less: Commissions receivable - current	238,947	270,383	238,947	270,383
Commissions receivable - non-current	$ 725,074	$ 627,341	$ 725,074	$ 627,341

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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+ Details

Revenue

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue

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. Beginning in the quarter ended June 30, 2025, we revised the presentation of disaggregation of revenue to further disaggregate Other Revenue into other agency revenue and other non-agency revenue. Prior period presentation has been conformed to reflect current period presentation.

Disaggregation of Revenue

The table below depicts the disaggregation of revenue and is consistent with how the Company evaluates its financial performance:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands)	2025		2024		2025		2024
Medicare Revenue
Medicare Agency Revenue
Commission Revenue(1)	$	22,172	$	77,868	$	262,603	$	228,154
Partner Marketing and Other Revenue	4,116		14,408		32,492		47,926
Total Medicare Agency Revenue	26,288		92,276		295,095		276,080
Medicare Non-Agency Revenue	610		24,532		36,592		130,573
Total Medicare Revenue	26,898		116,808		331,687		406,653
Other Revenue
Other Non-Agency Revenue	6,886		1,119		16,587		1,896
Other Agency Revenue	$	402	$	365	$	932	$	1,213
Total Other Revenue	7,288		1,484		17,519		3,109
Total Net Revenues	$	34,186	$	118,292	$	349,206	$	409,762

(1)Commission revenue excludes commissions generated from the sale of individual and family plan insurance products.

Medicare Revenue

Medicare Agency Revenue

Medicare agency revenue 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, also referred to as external agents, enroll the consumer and submit the Medicare policy application to the health plan partner, becoming the agent of record. The Company records as commission revenue the expected amount of initial commissions received from the health plan partners and any renewal commissions to be paid on such placement as long as the policyholder remains with the same insurance product, also known as the total estimated LTV of the policy, net of an estimated constraint. The consideration is variable based on the estimated amount of time a policy will remain in force, which is based on historical experience or health plan partner experience to the extent available, industry data and expectations as to future retention rates. Additionally, the Company considers the application of a constraint and only recognizes the amount of variable consideration that it believes is probable that it will be entitled to receive and will not be subject to a significant revenue reversal in the future. The Company monitors and updates this estimate at each reporting date.

The Company utilizes a practical expedient to estimate commission revenue for each insurance product by applying the use of a portfolio approach to group approved members by the effective month of the relevant policy (referred to as a “vintage”). On a quarterly basis, the Company re-estimates LTV at a vintage level for outstanding vintages, which takes into account cash received as compared to the original estimates and reviews and monitors changes in the data used to estimate LTV. Changes in LTV may result in an increase or a decrease to revenue and a corresponding change to commissions receivable. The Company analyzes these differences and to the extent the Company believes differences in the estimates are indicative of a change to prior period LTVs, the Company will adjust revenue for the affected vintages at the time such determination is made and when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur.

The Company is also compensated by its health plan partners for providing Medicare-related marketing services over a predetermined measurement period, which the Company records as partner marketing and other revenue. The Company recognizes these revenues over the measurement period as insurance applications produced by the Company are generated. The Company generally gets paid a fixed fee per application, with the amount of variable consideration resolved within 90 days of the application.

Medicare Non-Agency Revenue

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. The non-agency model moves away from the agency structure in that cash is collected in advance or in close proximity to the point in time revenue is recognized. Medicare non-agency revenue includes enrollment and engagement services through Encompass Connect and Encompass Engage. Encompass Connect is designed to provide enrollment related services to participating partners for Medicare products. The Company is compensated for generating and transferring leads to the health plan partners, at which time the health plan partner representative will enroll and submit the application, becoming the agent of record. Revenue is recognized at the point in time the lead is transferred. The Company’s performance obligation is complete when a health plan partner has received a lead, with the amount of variable consideration generally resolved within 90 days of when the related policy effectuates. The Company estimates the amount of variable consideration that it expects to receive based on historical experience with commission revenue or health plan partner experience to the extent available and expectations as to future retention rates. The Company does not receive commissions or fees on subsequent renewals generated from the transferred leads. Encompass Engage includes post-enrollment member outreach and engagement services, including facilitating an onboarding experience customized to a members’ Medicare plan and health needs. The Company recognizes Encompass Engage revenue at the point in time the service is provided based on member retention and providing post-enrollment services.

Medicare non-agency revenue also includes value-based care provider engagement, health risk assessments, social determinants of health screening and preferred pharmacy programs. The Company recognizes revenue for the related performance obligation at the point in time the service is provided.

Other Revenue

Other Non-Agency Revenue

Other non-agency revenue includes enrollment related services through GoHealth Protect, a suite of products to cover unexpected life events, including guaranteed acceptance life insurance. The Company is compensated for guaranteed acceptance life insurance through the non-agency model where GoHealth is not the agent of record and cash is collected in close proximity to the point of sale. Revenue is recognized at the point in time the enrollment is submitted, approved by the health plan partner, and for which the payment information was received by the health plan partner. The Company’s performance obligation is complete when the health plan partner has received the enrollment. The Company estimates the amount of variable consideration that it expects to receive based on expectations as to future retention rates and average premium levels. Other non-agency revenue also includes revenue unrelated to Medicare products, including certain post-enrollment services.

Other Agency Revenue

Other agency revenue is comprised of revenue unrelated to Medicare products, including commissions revenue generated from the sale of individual and family plan insurance products.

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 September 30, 2025 and December 31, 2024 of $4.2 million and $20.9 million, respectively, which are recorded in prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. The $16.7 million decrease was primarily due to a decline in unbilled receivables for performance-based enrollment fees pursuant to Encompass Connect. In addition, the Company had accrued payments for revenue share as of September 30, 2025 and December 31, 2024 of $19.8 million and $29.8 million, respectively, which are recorded in accrued liabilities on the Condensed Consolidated Balance Sheets.

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 decrease in deferred revenue during the nine months ended September 30, 2025 compared to December 31, 2024 was primarily due to less cash received as of September 30, 2025 compared to December 31, 2024 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 three months ended September 30, 2025 and 2024, the Company recognized revenue that was recorded in deferred revenue on the Condensed Consolidated Balance Sheets at the beginning of the respective fiscal year of $2.1 million and $7.6 million, respectively. During the nine months ended September 30, 2025 and 2024, the Company recognized revenue that was recorded in deferred revenue on the Condensed Consolidated Balance Sheets at the beginning of the respective fiscal year of $49.0 million and $51.1 million, respectively.

Commissions Receivable

Commissions receivable activity is summarized as follows:


	Nine months ended Sep. 30,
(in thousands)	2025		2024
Beginning balance	$	1,053,560	$	911,697
Commission revenue(1)	266,946		231,479
Cash receipts	(356,544)		(336,054)
Allowance for credit loss	59		77
Acquisition of business	—		90,525
Ending balance	$	964,021	$	897,724
Less: Commissions receivable - current	238,947		270,383
Commissions receivable - non-current	$	725,074	$	627,341

(1)Commission revenue includes commissions generated from the sale of individual and family plan insurance products.

The Company’s contracts with health plan partners expose it to credit risk because a financial loss could be incurred if the counterparty does not fulfill its financial obligation. While the Company is exposed to credit losses due to the potential non-performance of its counterparties, the Company considers this risk to be remote. The Company estimates the allowance for credit losses using available information from internal and external sources related to historical experiences, current conditions and forecasts. Estimates of loss are determined by using historical collections data as well as historical information obtained through research and review of other peer companies. The estimated exposure of default is determined by applying these internal and external factors to the commissions receivable balances. The Company estimates the maximum credit risk in determining the commissions receivable amount recorded on the Condensed Consolidated Balance Sheets.

Significant Customers

The following table presents health plan partners representing 10% or more of the Company’s total net revenues for the periods indicated:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
	2025		2024		2025		2024
United	33.1	%	25.9	%	38.6	%	20.5	%
Humana	27.9	%	31.7	%	27.3	%	23.6	%
Elevance Health	16.5	%	18.2	%	12.7	%	19.5	%
Colonial Penn	18.6	%	0.0	%	3.9	%	0.0	%

Concentration of Credit Risk

The Company does not require collateral or other security in granting credit. As of September 30, 2025, one customer represented 10% or more of the Company’s total accounts receivable and unbilled receivables and, in aggregate, represented 91.5%, or $1.6 million, of the combined total. As of December 31, 2024, two customers each represented 10% or more of the Company’s total accounts receivable and unbilled receivables and, in aggregate, represented 74.6%, or $17.6 million, of the combined total.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Statement [Abstract]
Net revenues	$ 34,186	$ 118,292	$ 349,206	$ 409,762
Operating expenses:
Revenue share	20,095	19,683	91,777	78,376
Marketing and advertising	17,471	45,270	112,937	136,049
Consumer care and enrollment	17,201	45,556	95,119	132,731
Technology	9,970	9,801	27,220	28,921
General and administrative	27,689	17,140	72,284	50,457
Amortization of intangible assets	23,514	23,514	70,542	70,542
Indefinite and long-lived asset impairment charges	206,163	0	259,961	0
Total operating expenses	322,103	160,964	729,840	497,076
Income (loss) from operations	(287,917)	(42,672)	(380,634)	(87,314)
Interest expense	24,762	19,086	57,661	55,133
Loss on extinguishment of debt	1,655	0	1,655	0
Gain on bargain purchase	0	(77,363)	0	(77,363)
Other (income) expense, net	70	250	(520)	332
Income (loss) before income taxes	(314,404)	15,355	(439,430)	(65,416)
Income tax (benefit) expense	(486)	(11)	263	(122)
Net income (loss)	(313,918)	15,366	(439,693)	(65,294)
Net income (loss) attributable to non-controlling interests	(148,072)	8,591	(215,162)	(36,857)
Net income (loss) attributable to GoHealth, Inc.	$ (165,846)	$ 6,775	$ (224,531)	$ (28,437)
Net income (loss) per share (Note 7):
Net income (loss) per share of Class A common stock — basic (in dollars per share)	$ (11.80)	$ 0.58	$ (19.14)	$ (3.14)
Net income (loss) per share of Class A common stock — diluted (in dollars per share)	$ (11.80)	$ 0.46	$ (19.14)	$ (3.14)
Weighted-average shares of Class A common stock outstanding — basic (in shares)	14,136	10,077	11,884	9,922
Weighted-average shares of Class A common stock outstanding — diluted (in shares)	14,136	14,580	11,884	9,922

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 1,941	$ 2,216	$ 6,530	$ 7,659
Non-cash activity:
Operating lease assets obtained in exchange for new lease obligations	0	1,361	0	1,361
Reduction in operating lease ROU assets and lease liabilities due to reassessment of lease terms	0	0	1,968	0
Reduction in operating lease ROU assets and lease liabilities due to reassessment of lease terms	$ 0	$ 0	$ 1,968	$ 0

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (313,918)	$ 15,366	$ (439,693)	$ (65,294)
Other comprehensive income (loss):
Foreign currency translation adjustments	88	20	189	(32)
Comprehensive income (loss)	(313,830)	15,386	(439,504)	(65,326)
Comprehensive income (loss) attributable to non-controlling interests	(148,031)	8,602	(215,069)	(36,875)
Comprehensive income (loss) attributable to GoHealth, Inc.	$ (165,799)	$ 6,784	$ (224,435)	$ (28,451)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Revenue (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The table below depicts the disaggregation of revenue and is consistent with how the Company evaluates its financial performance:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands)	2025		2024		2025		2024
Medicare Revenue
Medicare Agency Revenue
Commission Revenue(1)	$	22,172	$	77,868	$	262,603	$	228,154
Partner Marketing and Other Revenue	4,116		14,408		32,492		47,926
Total Medicare Agency Revenue	26,288		92,276		295,095		276,080
Medicare Non-Agency Revenue	610		24,532		36,592		130,573
Total Medicare Revenue	26,898		116,808		331,687		406,653
Other Revenue
Other Non-Agency Revenue	6,886		1,119		16,587		1,896
Other Agency Revenue	$	402	$	365	$	932	$	1,213
Total Other Revenue	7,288		1,484		17,519		3,109
Total Net Revenues	$	34,186	$	118,292	$	349,206	$	409,762

(1)Commission revenue excludes commissions generated from the sale of individual and family plan insurance products.

Schedule of Commissions Receivable Activity

Commissions receivable activity is summarized as follows:


	Nine months ended Sep. 30,
(in thousands)	2025		2024
Beginning balance	$	1,053,560	$	911,697
Commission revenue(1)	266,946		231,479
Cash receipts	(356,544)		(336,054)
Allowance for credit loss	59		77
Acquisition of business	—		90,525
Ending balance	$	964,021	$	897,724
Less: Commissions receivable - current	238,947		270,383
Commissions receivable - non-current	$	725,074	$	627,341

(1)Commission revenue includes commissions generated from the sale of individual and family plan insurance products.

Schedule of Revenue by Major Customers by Reporting Segments

The following table presents health plan partners representing 10% or more of the Company’s total net revenues for the periods indicated:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
	2025		2024		2025		2024
United	33.1	%	25.9	%	38.6	%	20.5	%
Humana	27.9	%	31.7	%	27.3	%	23.6	%
Elevance Health	16.5	%	18.2	%	12.7	%	19.5	%
Colonial Penn	18.6	%	0.0	%	3.9	%	0.0	%

Long-Term Debt - Narrative (Details) $ in Thousands				1 Months Ended		3 Months Ended		9 Months Ended
Long-Term Debt - Narrative (Details) $ in Thousands	Nov. 14, 2025 USD ($)	Sep. 30, 2025 USD ($)	Aug. 06, 2025 USD ($) shares	Oct. 31, 2025 USD ($)	Mar. 31, 2025 USD ($)	Sep. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)	Nov. 02, 2025 USD ($)	Oct. 01, 2025 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2024 USD ($)	Nov. 04, 2024 USD ($)
Debt Instrument [Line Items]
Other non-current liabilities		$ 2,227				$ 2,227		$ 2,227					$ 9,200
Loss on extinguishment of debt						1,655	$ 0	1,655	$ 0
Payments of debt issuance costs								8,408	$ 13,584
Superpriority Facility \| Line of Credit \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, covenant, minimum liquidity covenant			$ 5,000
Superpriority Facility \| Line of Credit \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt instrument, covenant, minimum liquidity covenant			15,000
Superpriority Facility \| Line of Credit \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt instrument, covenant, minimum liquidity covenant			20,000
Superpriority Facility \| Line of Credit \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt instrument, covenant, minimum liquidity covenant			30,000
Superpriority Facility \| Line of Credit \| Debt Instrument, Redemption, Period Five
Debt Instrument [Line Items]
Debt instrument, covenant, minimum liquidity covenant			$ 10,000
Superpriority Facility \| Adjusted Term SOFR \| Line of Credit
Debt Instrument [Line Items]
Variable interest rate spread			5.50%
Superpriority Facility \| Alternate Base Rate \| Line of Credit
Debt Instrument [Line Items]
Variable interest rate spread			4.50%
Superpriority New Money Term Loans \| Line of Credit
Debt Instrument [Line Items]
Other non-current liabilities		1,100				1,100		1,100
Superpriority New Money Term Loans \| Line of Credit \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, covenant, multiple-on-invested-capital			2.00
Superpriority New Money Term Loans \| Line of Credit \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt instrument, covenant, multiple-on-invested-capital			1.75
Superpriority New Money Term Loans \| Line of Credit \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt instrument, covenant, multiple-on-invested-capital			1.50
Term Loan Facilities \| Existing Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity														$ 475,000
Annual amortization percentage					0.0200
Borrowings repaid					$ 2,400
Debt issuance costs, payable in-kind												$ 5,600
Debt issuance costs												$ 400
Long-term line of credit		$ 501,700				$ 501,700		$ 501,700					$ 475,000
Effective interest rate		15.50%				15.50%		15.50%					12.06%
Term Loan Facilities \| Existing Term Loan Facility \| Alternate Base Rate
Debt Instrument [Line Items]
Variable interest rate spread		6.50%
Term Loan Facilities \| Existing Term Loan Facility \| SOFR
Debt Instrument [Line Items]
Variable interest rate spread		7.50%
Term Loan Facilities \| Superpriority Facility \| Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 115,000
Debt issuance costs, payable in-kind			2,400
Loss on extinguishment of debt			1,700
Common stock issued as non-cash consideration			25,100
Payments of debt issuance costs			8,000
Term Loan Facilities \| Superpriority New Money Term Loans \| Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			80,000
Long-term line of credit		$ 43,500				$ 43,500		$ 43,500
Effective interest rate		25.60%				25.60%		25.60%
Term Loan Facilities \| Superpriority New Money Term Loans \| Line of Credit \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			40,000
Term Loan Facilities \| Superpriority New Money Term Loans \| Line of Credit \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			40,000
Term Loan Facilities \| Superpriority New Money Term Loans \| Line of Credit \| Debt Instrument, Redemption, Period Two \| Subsequent event
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity										$ 30,000	$ 15,000
Proceeds from issuance of long-term debt	$ 15,000			$ 15,000
Term Loan Facilities \| Superpriority Roll-Up Term Loans \| Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 35,000
Long-term line of credit		$ 35,000				$ 35,000		$ 35,000
Effective interest rate		9.80%				9.80%		9.80%
Revolving Credit Facilities \| Class A-1 Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 88,500				$ 88,500		$ 88,500
Long-term line of credit													$ 0
Revolving Credit Facilities \| Class A Revolving Commitments
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity													35,000
Commitment fee percentage								0.50%
Long-term line of credit		$ 56,300				$ 56,300		$ 56,300					30,000
Effective interest rate		15.50%				15.50%		15.50%
Remaining borrowing capacity													$ 58,500
Revolving Credit Facilities \| Class A Revolving Commitments \| Alternate Base Rate
Debt Instrument [Line Items]
Variable interest rate spread								5.50%
Revolving Credit Facilities \| Class A Revolving Commitments \| SOFR
Debt Instrument [Line Items]
Variable interest rate spread								6.50%
Revolving Credit Facilities \| Term Loan Facilities and/or Class A Revolving Loans
Debt Instrument [Line Items]
Shares issued in connection with debt agreement amendment (in shares) \| shares			4,766,219
Revolving Credit Facilities \| Term Loan Facilities and/or Class A Revolving Loans \| Adjusted Term SOFR
Debt Instrument [Line Items]
Variable interest rate spread			8.00%
Revolving Credit Facilities \| Term Loan Facilities and/or Class A Revolving Loans \| Adjusted Term SOFR - Payable in Cash
Debt Instrument [Line Items]
Variable interest rate spread			4.50%

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024	Jul. 17, 2020
Operating Loss Carryforwards [Line Items]
Effective tax rate	0.20%	(0.10%)	(0.10%)	0.20%
Tax receivable agreement, payment, percent of amount of tax benefits realized or deemed to realize						85.00%
Tax receivable agreement, liability	$ 1.1		$ 1.1		$ 1.1
e-TeleQuote Insurance, Inc
Operating Loss Carryforwards [Line Items]
Percentage of voting interest acquired					100.00%

Intangible Assets, Net

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

INTANGIBLE ASSETS, NET

During the three months ended September 30, 2025, the Company determined that the fair value of its indefinite-lived trade names and definite-lived amortizable intangible assets no longer exceeded their carrying values. As a result, the Company recorded intangible asset impairment charges of $179.0 million and $232.0 million for the three and nine months ended September 30, 2025, respectively, to write down the carrying values of the indefinite-lived trade names and definite-lived amortizable intangible assets to zero. The intangible asset impairment charges are included in “Indefinite and long-lived asset impairment charges” on the Condensed Consolidated Statements of Operations. There was no impairment of intangible assets for the three and nine months ended September 30, 2024. For more information, refer to Note 2, “Fair Value Measurements.”

The gross carrying amounts, accumulated amortization and net carrying amounts of the Company’s definite-lived amortizable intangible assets, as well as its indefinite-lived intangible trade names, are as follows:


	Sep. 30, 2025
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount
Developed technology	$	496,000	$	428,686	$	67,314	$	—
Customer relationships	232,000		140,360		91,640		—
Total intangible assets subject to amortization	$	728,000	$	569,046	$	158,954	$	—
Indefinite-lived trade names							—
Total intangible assets							$	—


	Dec. 31, 2024
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	496,000	$	375,543	$	120,457
Customer relationships	232,000		122,960		109,040
Total intangible assets subject to amortization	$	728,000	$	498,503	$	229,497
Indefinite-lived trade names					73,000
Total intangible assets					$	302,497

Intangible Assets, Net - Schedule of Definite-lived and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 728,000	$ 728,000
Accumulated Amortization	569,046	498,503
Accumulated Impairment	158,954
Net Carrying Amount	0	229,497
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Net Carrying Amount	0	302,497
Indefinite-lived trade names
Indefinite-lived Intangible Assets [Line Items]
Net Carrying Amount	0	73,000
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	496,000	496,000
Accumulated Amortization	428,686	375,543
Accumulated Impairment	67,314
Net Carrying Amount	0	120,457
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	232,000	232,000
Accumulated Amortization	140,360	122,960
Accumulated Impairment	91,640
Net Carrying Amount	$ 0	$ 109,040

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2025
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS The Company is party to various lease agreements with 220 W Huron Street Holdings LLC, 215 W Superior LLC and Wilson Tech 5, LLC, each of which is controlled by significant stockholders of the Company, to lease its former corporate offices in Chicago, Illinois and offices in Lindon, Utah. The Company pays rent, operating expenses, maintenance and utilities under the terms of the leases. For the three and nine months ended September 30, 2025, the Company made aggregate lease payments of $1.3 million and $3.5 million, respectively, under these leases. For the three and nine months ended September 30, 2024, the Company made aggregate lease payments of $1.3 million and $4.3 million, respectively, under these leases.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Leases

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Leases

LEASES

The Company has entered into operating agreements with lease periods expiring between 2025 and 2032. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.

Components of lease expense are as follows, all recorded within operating expenses in the Condensed Consolidated Statements of Operations:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands)	2025		2024		2025		2024
Operating lease cost	1,619		1,859		5,607		5,806
Short-term lease cost(1)	—		9		3		46
Variable lease cost(2)	24		55		106		326
Sublease income	(749)		(689)		(1,977)		(1,865)
Total net lease expense	$	894	$	1,234	$	3,739	$	4,313

(1)Includes costs related to leases, which at the commencement date, have a lease term of 12 months or less.

(2)Includes costs incurred by the Company for the right to use an underlying asset that vary because of changes in facts or circumstances occurring after the commencement date, other than the passage of time.

As part of the Company’s continued cost savings initiatives, the Company is actively looking to terminate or sublease certain office spaces and call centers. These actions resulted in $4.5 million in operating lease impairment charges for the three months ended September 30, 2025 and $5.3 million in operating lease impairment charges for the nine months ended September 30, 2025 which are recorded in “Indefinite and long-lived asset impairment charges” on the Condensed Consolidated Statements of Operations. There were no operating lease impairment charges for the three and nine months ended September 30, 2024. The operating lease impairment charges reduce the carrying value of the associated ROU assets and leasehold improvements to their estimated fair values. For the nine months ended September 30, 2025, the Company recognized $0.3 million of one-time gains from the remeasurement of the lease liability and adjustment of the ROU asset (which was previously impaired) related to the early termination of two of its leases during the first half of the fiscal year. The gain on lease remeasurement was recorded in general and administrative expense on the Condensed Consolidated Statements of Operations. Refer to Note 2, “Fair Value Measurements” for further details.

As of September 30, 2025, future minimum lease payments for operating leases consisted of the following:


(in thousands)	Operating Leases
Remainder of 2025	$	1,980
2026	7,852
2027	7,942
2028	6,969
2029	5,948
Thereafter	14,493
Total lease payments	$	45,184
Less: Imputed interest	(10,310)
Present value of lease liabilities	$	34,874

Supplemental cash flow information related to leases are as follows:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands)	2025		2024		2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,941	$	2,216	$	6,530	$	7,659
Non-cash activity:
Operating lease assets obtained in exchange for new lease obligations(1)	$	—	$	1,361	$	—	$	1,361
Reduction in operating lease ROU assets and lease liabilities due to reassessment of lease terms	$	—	$	—	$	1,968	$	—

(1)For the three and nine months ended September 30, 2024, the Company recognized operating lease assets arising from operating leases of an acquiree.

The weighted average remaining operating lease term and discount rate are as follows:


	Sep. 30,
	2025		2024
Weighted average remaining lease term	6.0 years		6.6 years


Weighted average discount rate	9.3	%	9.2	%

Segment Reporting (Details)	9 Months Ended
Segment Reporting (Details)	Sep. 30, 2025 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	1

Leases - Schedule of Minimum Future Payments for Operating Leases (Details) $ in Thousands	Sep. 30, 2025 USD ($)
Operating Leases
Remainder of 2025	$ 1,980
2026	7,852
2027	7,942
2028	6,969
2029	5,948
Thereafter	14,493
Total lease payments	45,184
Less: Imputed interest	(10,310)
Present value of lease liabilities	$ 34,874

STOCKHOLDERS' EQUITY (DEFICIT) - Redeemable Convertible Preferred Stock (Details) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
	Sep. 23, 2022 USD ($) day $ / shares shares	Sep. 30, 2025 USD ($) $ / shares shares	Sep. 30, 2024 USD ($)	Sep. 30, 2025 USD ($) $ / shares shares	Sep. 30, 2024 USD ($)	Dec. 31, 2024 $ / shares shares	Jul. 31, 2020 $ / shares shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) \| shares		20,000		20,000		20,000	20,000
Preferred stock, par value (in dollars per share)		$ 0.0001		$ 0.0001		$ 0.0001	$ 0.0001
Dividends accumulated on Series A redeemable convertible preferred stock \| $		$ 989	$ 923	$ 2,917	$ 2,722
Debt instrument, convertible, threshold trading days \| day	20
Debt instrument, convertible, threshold consecutive trading days \| day	30
Ratio of consolidated total net debt to consolidated EBITDA that triggers a preferred stock separate class vote	4
Preferred stock, convertible but not converted, calculation of purchase price, percent of purchaser's original investment amount	160.00%
Maximum
Class of Stock [Line Items]
Common stock, voting rights, percentage	0.0999
Series A Preferred Stock
Class of Stock [Line Items]
Convertible preferred stock, shares issued (in shares) \| shares	50
Convertible preferred stock, par value (in dollars per share)	$ 0.0001
Proceeds from sale of Series A redeemable convertible preferred stock \| $	$ 50,000
Convertible preferred stock, issued, price per share (in dollars per share)	$ 1,000
Liquidation proceeds per unit (in dollars per share)	$ 1,000
Convertible preferred stock, dividend rate, annual accrual percentage	0.070
Convertible preferred stock, initial conversion price (in dollars per share)		$ 9.60		$ 9.60
Preferred stock, convertible, conversion ratio of cash dividends	1,000
Preferred stock, convertible, conversion ratio of non-cash dividends	1,000
Issuance cost payments from issuance of Series A redeemable convertible preferred stock \| $	$ 1,600
Series A Preferred Stock \| Minimum
Class of Stock [Line Items]
Volume weighted average price per share, percentage of temporary equity conversion price	150.00%
Series A Convertible Preferred Stock
Class of Stock [Line Items]
Convertible preferred stock, shares issued (in shares) \| shares		50		50		50
Convertible preferred stock, par value (in dollars per share)		$ 0.0001		$ 0.0001		$ 0.0001
Convertible preferred stock, shares authorized (in shares) \| shares	50	50		50		50
Dividends accumulated on Series A redeemable convertible preferred stock \| $		$ 1,000	$ 900	$ 2,900	$ 2,700
Series A-1 Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) \| shares		200		200		200
Preferred stock, par value (in dollars per share)		$ 0.0001		$ 0.0001		$ 0.0001
Convertible preferred stock, shares authorized (in shares) \| shares	200
Class A Common Stock
Class of Stock [Line Items]
Preferred stock, convertible, conversion ratio	1,000

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Disaggregation of Revenue [Line Items]
Net revenues	$ 34,186	$ 118,292	$ 349,206	$ 409,762
Medicare Revenue
Disaggregation of Revenue [Line Items]
Net revenues	26,898	116,808	331,687	406,653
Agency Revenue
Disaggregation of Revenue [Line Items]
Net revenues	26,288	92,276	295,095	276,080
Commission Revenue
Disaggregation of Revenue [Line Items]
Net revenues	22,172	77,868	262,603	228,154
Partner Marketing and Other Revenue
Disaggregation of Revenue [Line Items]
Net revenues	4,116	14,408	32,492	47,926
Non-Agency Revenue
Disaggregation of Revenue [Line Items]
Net revenues	610	24,532	36,592	130,573
Other Revenue
Disaggregation of Revenue [Line Items]
Net revenues	7,288	1,484	17,519	3,109
Other Non-Agency Revenue
Disaggregation of Revenue [Line Items]
Net revenues	6,886	1,119	16,587	1,896
Other Agency Revenue
Disaggregation of Revenue [Line Items]
Net revenues	$ 402	$ 365	$ 932	$ 1,213

STOCKHOLDERS' EQUITY (DEFICIT) - Narrative (Details)	1 Months Ended	3 Months Ended		9 Months Ended
STOCKHOLDERS' EQUITY (DEFICIT) - Narrative (Details)	Jul. 31, 2020 vote $ / shares shares	Sep. 30, 2025 $ / shares shares	Sep. 30, 2024	Sep. 30, 2025 $ / shares shares	Sep. 30, 2024	Dec. 31, 2024 $ / shares shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) \| shares	20,000,000	20,000,000		20,000,000		20,000,000
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Ratio between the number of shares of Class A common stock issued and the number of LLC Interests owned	1
GHH, LLC
Class of Stock [Line Items]
Weighted-average ownership percentage by non-controlling interest holders		47.20%	55.90%	51.50%	56.30%
Continuing Equity Owners and permitted transferees
Class of Stock [Line Items]
Ratio between the number of shares of Class B common stock owned and the number of LLC Interests owned	1
GHH, LLC
Class of Stock [Line Items]
LLC Interests to newly issued Class A common stock, conversion ratio	1
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares	1,100,000,000	1,100,000,000		1,100,000,000		1,100,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Number of votes per common share held \| vote	1
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares	690,000,000	615,825,000		615,825,000		615,917,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Number of votes per common share held \| vote	1

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Indefinite-lived Intangible Assets [Line Items]
Indefinite and long-lived asset impairment charges	$ 206,200		$ 260,000
Operating lease impairment charges	4,500	$ 0	5,300	$ 0
Indefinite and long-lived asset impairment charges	179,000		232,000
Indefinite-lived trade names	0		0
Definite-lived amortizable intangible assets	0		0		$ 229,497
Impairment of capitalized software and property and equipment	159,000		159,000
Indefinite and long-lived asset impairment charges	206,163	$ 0	259,961	$ 0
Indefinite-lived trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite and long-lived asset impairment charges	20,000		73,000
Computer Software and Property and Equipment
Indefinite-lived Intangible Assets [Line Items]
Impairment of capitalized software and property and equipment	$ 22,700		$ 22,700

Leases - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Details)	Sep. 30, 2025	Sep. 30, 2024
Leases [Abstract]
Weighted average remaining lease term	6 years	6 years 7 months 6 days
Weighted average discount rate	9.30%	9.20%

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Treasury Stock Class A Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2023				9,823	12,814
Beginning balance at Dec. 31, 2023	$ 405,653			$ 1	$ 1	$ (2,640)	$ 654,059	$ (420,280)	$ (127)	$ 174,639
Beginning balance (in shares) at Dec. 31, 2023						(173)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(65,294)							(28,437)		(36,857)
Issuance of Class A common shares related to share-based compensation plans (in shares)				581
Issuance of Class A common shares related to share-based compensation plans	450						450
Share-based compensation expense	8,688						8,688
Foreign currency translation adjustments	(32)								(14)	(18)
Class A common shares repurchased for employee tax withholdings (in shares)						(146)
Class A common shares repurchased for employee tax withholdings	(1,484)					$ (1,484)
Dividends accumulated on Series A redeemable convertible preferred stock	(2,722)						(2,722)
Forfeitures of Time-Vesting Units (in shares)					(3)
Redemption of LLC Interests (in shares)				36	(36)
Redemption of LLC Interests	0						4,545			(4,545)
Ending balance (in shares) at Sep. 30, 2024				10,440	12,775
Ending balance at Sep. 30, 2024	345,259			$ 1	$ 1	$ (4,124)	665,020	(448,717)	(141)	133,219
Ending balance (in shares) at Sep. 30, 2024						(319)
Beginning balance (in shares) at Jun. 30, 2024				10,360	12,780
Beginning balance at Jun. 30, 2024	327,799			$ 1	$ 1	$ (3,975)	662,347	(455,492)	(150)	125,067
Beginning balance (in shares) at Jun. 30, 2024						(302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	15,366							6,775		8,591
Issuance of Class A common shares related to share-based compensation plans (in shares)				76
Issuance of Class A common shares related to share-based compensation plans	4						4
Share-based compensation expense	3,142						3,142
Foreign currency translation adjustments	20								9	11
Class A common shares repurchased for employee tax withholdings (in shares)						(17)
Class A common shares repurchased for employee tax withholdings	(149)					$ (149)
Dividends accumulated on Series A redeemable convertible preferred stock	(923)						(923)
Forfeitures of Time-Vesting Units (in shares)					(1)
Redemption of LLC Interests (in shares)				4	(4)
Redemption of LLC Interests	0						450			(450)
Ending balance (in shares) at Sep. 30, 2024				10,440	12,775
Ending balance at Sep. 30, 2024	345,259			$ 1	$ 1	$ (4,124)	665,020	(448,717)	(141)	133,219
Ending balance (in shares) at Sep. 30, 2024						(319)
Beginning balance (in shares) at Dec. 31, 2024		10,292	12,711	10,614	12,711
Beginning balance at Dec. 31, 2024	405,438			$ 1	$ 1	$ (4,150)	669,346	(423,208)	(151)	163,599
Beginning balance (in shares) at Dec. 31, 2024		(322)				(322)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(439,693)							(224,531)		(215,162)
Issuance of Class A common shares related to share-based compensation plans (in shares)				1,333
Issuance of Class A common shares related to share-based compensation plans	332						332
Issuance of Class A common shares in connection with credit agreement amendment (in shares)				4,766
Issuance of Class A common shares in connection with credit agreement amendment	25,112						25,112
Share-based compensation expense	9,761						9,761
Foreign currency translation adjustments	189								96	93
Class A common shares repurchased for employee tax withholdings (in shares)						(449)
Class A common shares repurchased for employee tax withholdings	(5,130)					$ (5,130)
Dividends accumulated on Series A redeemable convertible preferred stock	(2,917)						(2,917)
Redemption of LLC Interests (in shares)				90	(90)
Redemption of LLC Interests	0						23,608			(23,608)
Ending balance (in shares) at Sep. 30, 2025		16,032	12,621	16,803	12,621
Ending balance at Sep. 30, 2025	(6,908)			$ 1	$ 1	$ (9,280)	725,242	(647,739)	(55)	(75,078)
Ending balance (in shares) at Sep. 30, 2025		(771)				(771)
Beginning balance (in shares) at Jun. 30, 2025				11,965	12,623
Beginning balance at Jun. 30, 2025	279,092			$ 1	$ 1	$ (9,178)	682,946	(481,893)	(102)	87,317
Beginning balance (in shares) at Jun. 30, 2025						(752)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(313,918)							(165,846)		(148,072)
Issuance of Class A common shares related to share-based compensation plans (in shares)				70
Issuance of Class A common shares in connection with credit agreement amendment (in shares)				4,766
Issuance of Class A common shares in connection with credit agreement amendment	25,112						25,112
Share-based compensation expense	3,809						3,809
Foreign currency translation adjustments	88								47	41
Class A common shares repurchased for employee tax withholdings (in shares)						(19)
Class A common shares repurchased for employee tax withholdings	(102)					$ (102)
Dividends accumulated on Series A redeemable convertible preferred stock	(989)						(989)
Redemption of LLC Interests (in shares)				2	(2)
Redemption of LLC Interests	0						14,364			(14,364)
Ending balance (in shares) at Sep. 30, 2025		16,032	12,621	16,803	12,621
Ending balance at Sep. 30, 2025	$ (6,908)			$ 1	$ 1	$ (9,280)	$ 725,242	$ (647,739)	$ (55)	$ (75,078)
Ending balance (in shares) at Sep. 30, 2025		(771)				(771)

Description of Business and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2025
Accounting Policies [Abstract]
Description of Business and Significant Accounting Policies	DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Description of Business GoHealth (the “Company”) is a leading health insurance marketplace and Medicare-focused digital health company whose purpose is to compassionately ensure consumers’ peace of mind when making healthcare decisions so they can focus on living life. With a widely scalable end-to-end platform and substantial presence in the Medicare landscape, GoHealth believes it is uniquely positioned as a trusted partner to the 67 million Medicare-eligible Americans, as well as the 11,000 Americans becoming eligible each day, as they navigate one of life's most important purchasing decisions. For many of these consumers, enrolling in a health insurance plan is confusing and difficult, and seemingly small differences between health plans may lead to significant out-of-pocket costs or lack of access to critical providers and medicines. GoHealth aims to simplify the process by offering education, comparison guidance, transparency and choice. This includes providing a large selection of leading health plan choices, advice informed by consumers’ specific needs, transparency of health plan benefits and fit, assistance accessing available government subsidies and a high-touch consumer care team. GoHealth partners with health plans that provide access to high-quality health plans across all 50 states and the District of Columbia. GoHealth primarily offers Medicare plans, including, but not limited to, Medicare Advantage, Medicare Supplement and prescription drug plans. Its proprietary technology platform leverages modern machine-learning algorithms, powered by over two decades of insurance purchasing behavior, to reimagine the process of matching a health plan to a consumer’s specific needs. GoHealth’s unbiased, technology-driven marketplace coupled with highly-skilled licensed agents has facilitated the enrollment of millions of consumers in Medicare plans since its inception. Health plan partners benefit from the GoHealth platform by gaining access to the large and rapidly growing Medicare-eligible population. GoHealth believes health plan partners utilize its large-scale data, technology and efficient marketing processes to maximize scale and reduce their cost of submission, compared to health plan partner-employed agent workforces. GoHealth believes its streamlined, consumer-centric Encompass operating model drives both high-quality enrollments and a strong consumer experience. The Company strives to be a trusted, high-quality enrollment partner for both consumers and health plan partners. Refer to the Liquidity and Going Concern section in this Note 1 for an update about our business. Basis of Presentation and Significant Accounting Policies The Company was incorporated in Delaware on March 27, 2020 for the purpose of facilitating an initial public offering (the “IPO”) and other related transactions in order to carry on the business of GHH, LLC, a Delaware limited liability company, and its controlled subsidiaries (collectively, “GHH, LLC”). Following the IPO and pursuant to a reorganization into a holding company structure, the Company is a holding company and its principal asset is a controlling equity interest in GHH, LLC. As the sole managing member of GHH, LLC, the Company operates and controls all of the business and affairs of GHH, LLC, and through GHH, LLC and its subsidiaries, conducts its business. As a result, the Company consolidates GHH, LLC’s financial results in its Condensed Consolidated Financial Statements and reports non-controlling interests for the economic interest in GHH, LLC held by the Continuing Equity Owners. The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, but do not include all information and footnote disclosures required under GAAP for annual financial statements. The accompanying Condensed Consolidated Financial Statements and related notes should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company’s 2024 Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on February 27, 2025. In the opinion of management, the interim Condensed Consolidated Financial Statements include all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the Company’s financial position, results of operations and cash flows as of the dates and for the periods presented. All intercompany transactions and balances are eliminated in consolidation. Certain prior period amounts have been reclassified to conform with the current period presentation. The Company reclassified $19.3 million related to certain commissions payable to external agents from other current liabilities to commissions payable - current on the Condensed Consolidated Statements of Cash Flows for the period ended September 30, 2024 to conform to current period presentation. There have been no material changes to the Company’s significant accounting policies from those disclosed in the notes to the Company’s audited Consolidated Financial Statements as of and for the year ended December 31, 2024, which were included in the Company’s 2024 Annual Report on Form 10-K. Liquidity and Going Concern These Condensed Consolidated Financial Statements have been prepared in accordance with GAAP applicable to a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business within twelve months after the date that these Condensed Consolidated Financial Statements are issued. Under the Company’s Superpriority Credit Agreement and Amendment No. 14 to its existing term loan (as defined and described further in Note 4, “Long-Term Debt”), the Company is required to meet minimum liquidity covenants and make scheduled principal and interest payments. As of September 30, 2025, the Company was in compliance with all of its financial covenants; however, management’s current financial projections indicate that, based on the Company’s current business plan, there is a significant likelihood that the Company will be unable to maintain compliance with its covenants within the twelve months after these Condensed Consolidated Financial Statements are issued, unless the mitigating plans described below are implemented successfully. To mitigate these uncertainties, management has implemented and is actively pursuing various strategic alternatives, including, among others, refinancings, securitizations, mergers, acquisitions or restructurings. Starting in the third quarter of 2025, management implemented cash management initiatives to further reduce operating expenses and improve cash flows including a reduction in force during the fourth quarter of 2025, impacting approximately 487 employees. In addition, management has plans to implement further cost savings to maintain compliance with its debt covenants. While management believes it is probable these plans will be executed successfully, they cannot guarantee such plans will be implemented successfully. Use of Estimates The preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on historical experience and various other assumptions that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Seasonality The Medicare annual enrollment period (“AEP”) occurs from October 15th to December 7th. As a result, and in general, the Company experiences an increase in the number of Submissions during the fourth quarter and an increase in expense related to the Submissions during the third and fourth quarters. Additionally, as a result of the annual Medicare Advantage open enrollment period that occurs from January 1st to March 31st, Submissions are typically second-highest in the first quarter. The second and third quarters are known as special election periods, during which Submissions are typically lowest. A significant portion of the Company’s marketing and advertising expenses is driven by the number of health insurance applications submitted through the Company. Marketing and advertising expenses are generally higher in the fourth quarter during AEP, but because commissions from approved consumers are paid to the Company over time, the Company’s operating cash flows could be adversely impacted by a substantial increase in marketing and advertising expenses as a result of a higher volume of Submissions during the fourth quarter or positively impacted by a substantial decline in marketing and advertising expenses as a result of lower volume of Submissions during the fourth quarter. Recent Accounting Pronouncements Recent Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 enhanced annual disclosures regarding the income tax rate reconciliation and income taxes paid information. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 for public business entities and annual periods beginning after December 15, 2025 for all other entities. The Company is currently assessing the impact on its related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement: Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disclosure about the types of costs and expenses included in certain expense captions presented on the income statement. The new disclosure requirements are effective for the Company’s annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the impact of this pronouncement on our related disclosures.

Leases (Tables)

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Schedule of Components of Lease Expense, Supplemental Cash Flow Information and Weighted Average Remaining Lease Term and Discount Rate

Components of lease expense are as follows, all recorded within operating expenses in the Condensed Consolidated Statements of Operations:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands)	2025		2024		2025		2024
Operating lease cost	1,619		1,859		5,607		5,806
Short-term lease cost(1)	—		9		3		46
Variable lease cost(2)	24		55		106		326
Sublease income	(749)		(689)		(1,977)		(1,865)
Total net lease expense	$	894	$	1,234	$	3,739	$	4,313

(1)Includes costs related to leases, which at the commencement date, have a lease term of 12 months or less.

Supplemental cash flow information related to leases are as follows:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands)	2025		2024		2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,941	$	2,216	$	6,530	$	7,659
Non-cash activity:
Operating lease assets obtained in exchange for new lease obligations(1)	$	—	$	1,361	$	—	$	1,361
Reduction in operating lease ROU assets and lease liabilities due to reassessment of lease terms	$	—	$	—	$	1,968	$	—

(1)For the three and nine months ended September 30, 2024, the Company recognized operating lease assets arising from operating leases of an acquiree.

The weighted average remaining operating lease term and discount rate are as follows:


	Sep. 30,
	2025		2024
Weighted average remaining lease term	6.0 years		6.6 years


Weighted average discount rate	9.3	%	9.2	%

Schedule of Future Minimum Payments for Operating Leases

As of September 30, 2025, future minimum lease payments for operating leases consisted of the following:


(in thousands)	Operating Leases
Remainder of 2025	$	1,980
2026	7,852
2027	7,942
2028	6,969
2029	5,948
Thereafter	14,493
Total lease payments	$	45,184
Less: Imputed interest	(10,310)
Present value of lease liabilities	$	34,874

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Long-term debt, gross	$ 636,458
Less: Unamortized debt discount and issuance costs	(54,614)	$ (17,635)
Total debt	581,844	487,365
Less: Current portion of long-term debt	0	(39,500)
Total long-term debt	581,844	447,865
Term Loan Facilities
Debt Instrument [Line Items]
Long-term debt, gross	636,458	475,000
Revolving Credit Facilities
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 30,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

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+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2025
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On November 3, 2025, management announced a reduction in work force which impacted approximately 487 employees. In connection with this reduction, and in compliance with the Worker Adjustment and Retraining Notification Act, for a period of two months, commencing November 3, 2025, the affected employees will be provided with notice pay based on their base salary and the expense will be recognized as incurred in the fourth quarter of 2025. There were no restructuring charges incurred relating to this workforce reduction for the three and nine months ended September 30, 2025.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2025
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company is taxed as a corporation for income tax purposes and is subject to federal, state and local taxes on the income allocated to it from GHH, LLC based upon the Company’s economic interest in GHH, LLC. The Company is the sole managing member of GHH, LLC and, as a result, consolidates the financial results of GHH, LLC. GHH, LLC is a limited liability company taxed as a partnership for income tax purposes except for a foreign subsidiary, which is treated as a foreign disregarded entity. As a partnership, GHH, LLC does not pay any federal income taxes, as income or loss is included in the tax returns of the individual members. In 2024, the Company acquired a 100% equity interest in e-TeleQuote Insurance, Inc. (“e-TeleQuote”) which is taxed as a corporation. These corporations are subject to federal and state income taxes in the jurisdictions in which they operate. Additionally, the Company’s foreign subsidiaries are subject to foreign income taxes in the jurisdiction in which they operate. The accruals for such taxes are included in the Condensed Consolidated Financial Statements. The Company’s effective tax rate for the three and nine months ended September 30, 2025 was 0.2% and (0.1)%, respectively. The Company’s effective tax rate for the three and nine months ended September 30, 2024 was (0.1)% and 0.2%, respectively. The effective tax rate for each period is lower than the statutory tax rate primarily due to the effect of loss entities for which the Company excludes from its annual effective tax rate calculation and loss attributable to non-controlling interests. Tax Receivable Agreement In connection with the IPO, the Company entered into a Tax Receivable Agreement with GHH, LLC, the Continuing Equity Owners and the Blocker Shareholders that will provide for the payment by the Company to the Continuing Equity Owners and the Blocker Shareholders of 85% of the amount of tax benefits, if any, that the Company actually realizes (or in some circumstances is deemed to realize). The amounts payable under the Tax Receivable Agreement will vary depending upon a number of factors, including the amount, character and timing of the taxable income of the Company in the future. As of both September 30, 2025 and December 31, 2024 the liability related to the Tax Receivable Agreement was $1.1 million. Should the Company determine that any additional Tax Receivable Agreement liability is considered probable at a future date based on new information, any changes will be recorded within earnings at that time.

- Definition

The entire disclosure for income tax.

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-Publisher FASB
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-Subparagraph (b)
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-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 2
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+ Details

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

The Company’s long-term debt consisted of the following:


(in thousands)	Sep. 30, 2025		Dec. 31, 2024
Term Loan Facilities	$	636,458	$	475,000
Revolving Credit Facilities	—		30,000
Less: Unamortized debt discount and issuance costs	(54,614)		(17,635)
Total debt	$	581,844	$	487,365
Less: Current portion of long-term debt	—		(39,500)
Total long-term debt	$	581,844	$	447,865

Schedule of Maturities of Long-Term Debt

Maturities of long-term debt for each of the next five years is as follows:


(in thousands)
Remainder of 2025	$	—
2026	—
2027	9,500
2028	9,500
2029	617,458
Thereafter	—
Total	$	636,458

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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-Publisher FASB
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-Paragraph 3
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+ Details

Net Income (Loss) Per Share - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Equity awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average potentially dilutive shares excluded from calculation of diluted loss per share because effect would be antidilutive (in shares)	3,471	2,479
Redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average potentially dilutive shares excluded from calculation of diluted loss per share because effect would be antidilutive (in shares)	4,113	3,989
Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average potentially dilutive shares excluded from calculation of diluted loss per share because effect would be antidilutive (in shares)	12,621	12,775

Share-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation Expenses by Operating Function

The following table summarizes share-based compensation expense (benefit) by operating function for the periods presented:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands)	2025		2024		2025		2024
Marketing and advertising	$	73	$	75	$	222	$	203
Consumer care and enrollment	147		189		575		841
Technology	221		293		727		780
General and administrative(1)	3,054		2,302		4,640		4,710
Total share-based compensation expense (benefit)	$	3,495	$	2,859	$	6,164	$	6,534

(1)For the three and nine months ended September 30, 2025 and 2024, share-based compensation expense (benefit) includes expense related to the stock appreciation rights (“SARs”), which are liability classified awards.

Revenue - Schedule of Significant Customers (Details) - Revenue - Customer concentration risk	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
United
Concentration Risk [Line Items]
Revenue percent	33.10%	25.90%	38.60%	20.50%
Humana
Concentration Risk [Line Items]
Revenue percent	27.90%	31.70%	27.30%	23.60%
Elevance Health
Concentration Risk [Line Items]
Revenue percent	16.50%	18.20%	12.70%	19.50%
Colonial Penn
Concentration Risk [Line Items]
Revenue percent	18.60%	0.00%	3.90%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

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-URI https://asc.fasb.org/1943274/2147482861/275-10-50-20

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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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-URI https://asc.fasb.org/1943274/2147482836/275-10-55-18

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-Topic 275
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-Subparagraph (b)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 954
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478785/954-310-50-2

+ Details

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References + Details

Description of Business and Significant Accounting Policies (Details) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2025 employee	Sep. 30, 2024 USD ($)	Sep. 30, 2025 state
Class of Stock [Line Items]
Number of states in which the company provide health plans in \| state			50
Forecast
Class of Stock [Line Items]
Number of employees impacted \| employee	487
Revision of Prior Period, Reclassification, Adjustment
Class of Stock [Line Items]
Decrease in other current liabilities		$ 19.3
Increase in commissions payable - current		$ 19.3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Related Party Transactions [Abstract]
Lease payments	$ 1.3	$ 1.3	$ 3.5	$ 4.3

Long-Term Debt

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Long-Term Debt

LONG-TERM DEBT

The Company’s long-term debt consisted of the following:


(in thousands)	Sep. 30, 2025		Dec. 31, 2024
Term Loan Facilities	$	636,458	$	475,000
Revolving Credit Facilities	—		30,000
Less: Unamortized debt discount and issuance costs	(54,614)		(17,635)
Total debt	$	581,844	$	487,365
Less: Current portion of long-term debt	—		(39,500)
Total long-term debt	$	581,844	$	447,865

Maturities of long-term debt for each of the next five years is as follows:


(in thousands)
Remainder of 2025	$	—
2026	—
2027	9,500
2028	9,500
2029	617,458
Thereafter	—
Total	$	636,458

Existing Credit Agreement

On November 4, 2024 (the “Effective Date”), Norvax (the “Borrower”) entered into the Amendment and Restatement Agreement (the “Existing Credit Agreement”) to provide for, among other provisions as further described below, a class of term loan facilities (the “Existing Term Loan Facility” or “Existing Term Loans”) in an aggregate principal amount equal to $475.0 million. Starting March 31, 2025, principal repayments of 2.00% per annum of the initial principal amount were made in equal quarterly installments. In March 2025, the Borrower repaid $2.4 million under this facility. Prior to Amendment No. 14 (as defined and

further described below), at the option of the Borrower, the Existing Term Loan Facility bore interest at either (i) ABR plus 6.50% per annum or (ii) Adjusted Term SOFR plus 7.50% per annum. To the extent not previously paid, the Existing Term Loan Facility, together with all accrued and unpaid interest thereon, is due and payable on November 4, 2029.

In addition to the Existing Term Loan Facility, the Existing Credit Agreement provided for a revolving credit facility with a commitment amount of $88.5 million (the “Class A Revolving Credit Facility”) and a revolving credit facility with a commitment amount of $35.0 million (the “Class A-1 Revolving Credit Facility"). The Class A Revolving Credit Facility bore interest at either (i) ABR plus 5.50% per annum or (ii) SOFR plus 6.50% per annum. The Borrower was required to pay a commitment fee of 0.50% per annum on undrawn amounts under the Class A Revolving Credit Facility. The Class A-1 Revolving Credit Facility was to be made available to the Borrower upon the termination of the Class A Revolving Credit Facility on or prior to June 30, 2025 (which was then further extended pursuant to Amendment No. 13 and Amendment No. 14). Following the entry into Amendment No. 14, the Class A-1 Revolving Credit Facility has been terminated.

Amendment No. 13

On June 30, 2025, the Borrower entered into Amendment No. 13 to the Existing Credit Agreement (“Amendment No. 13”), which modified the Existing Credit Agreement to, among other things, (i) provide that all interest payable for the Existing Term Loan Facility and Class A Revolving Credit Facility occurring on or prior to September 30, 2025 would be payable in-kind, and thus capitalized and added to the respective principal balances, (ii) waive the principal payments of the Existing Term Loan Facility on June 30, 2025 and September 30, 2025, (iii) extend the maturity date of borrowings outstanding under the Class A Revolving Credit Facility from June 30, 2025 to September 30, 2025 (which was then further extended pursuant to Amendment No. 14) and (iv) permit the Borrower to negotiate and consummate a receivables financing, securitization, receivables facility or other similar financing.

Pursuant to Amendment No. 13, the Company incurred $5.6 million in debt issuance costs which are payable in-kind, and thus capitalized and added to the outstanding principal balance. The Company paid an additional $0.4 million in debt issuance costs in cash related to Amendment No. 13. The total debt issuance costs are amortized over the life of the debt to interest expense using the effective interest method.

Amendment No. 14

On August 6, 2025, the Borrower entered into Amendment No. 14 to the Existing Credit Agreement (“Amendment No. 14”), which further amends the Existing Credit Agreement to, among other things, (i) terminate all revolving commitments under the Class A-1 Revolving Credit Facility (with no revolving loans under the Class A-1 Revolving Credit Facility being outstanding on August 6, 2025), (ii) terminate all Class A revolving commitments and extend the maturity date of the remaining Class A revolving loans outstanding to August 5, 2029 (the “Class A Loans”), (iii) permit the Borrower to pay in-kind a portion of the interest on the outstanding Existing Term Loans and Class A Loans with such loan accruing interest at a rate equal to Adjusted Term SOFR plus 8.00% per annum, of which an amount of interest equal to at least Adjusted Term SOFR plus 4.50% is payable in cash with the remainder of such interest paid in-kind and (iv) waive the principal payments of the Existing Term Loans until December 31, 2026. Following Amendment No. 14, amounts repaid or prepaid in respect of the Class A Loans may not be reborrowed. As consideration for, and as a condition to, the lenders’ entry into Amendment No. 14, on August 6, 2025, the Company issued to lenders (or their affiliates) holding Class A Loans and Existing Term Loans (for these purposes, the “Subscribers”), pro rata based on their respective holdings thereof, an aggregate of 4,766,219 shares of Class A common stock.

Superpriority Credit Agreement

On August 6, 2025 (the “Closing Date”), the Borrower entered into the Superpriority Senior Secured Credit Agreement (the “Superpriority Credit Agreement”). The Superpriority Credit Agreement governs a senior secured superpriority term loan facility in an aggregate principal amount of $115.0 million (the “Superpriority Facility”) consisting of (a) $80.0 million in new-money term loans (together, the “New Money Term Loans”), of which (i) $40.0 million was funded on the closing date (the “Initial New Money Term Loans”) and (ii) $40.0 million is available as delayed-draw term loans (the “Delayed Draw Term Loans”), and (b) $35.0 million of roll-up term loans funded on the closing date (the “Roll-Up Term Loans” and together with the New Money Term Loans, the “Superpriority Term Loans”) resulting from the cashless conversion of a corresponding amount of Class A Loans at par that were outstanding under the Existing Credit Agreement into term loans on a dollar-for-dollar basis. Provided that no default or event of default has occurred and is continuing, the Delayed Draw Term Loans will be available to the Borrower on or after October 1, 2025, with the aggregate principal amount of such loans funded prior to November 1, 2025 not to exceed $15.0 million and prior to December 1, 2025, not to exceed $30.0 million, with the full amount available thereafter. Pursuant to this agreement, the Company borrowed $15.0 million of the Delayed Draw Term Loans in October 2025 and another $15.0 million in November 2025.

The Superpriority Facility matures on August 5, 2029. The New Money Term Loans bear interest in cash, at the Borrower’s election from time to time, at either (i) Adjusted Term SOFR plus 5.50% per annum or (ii) ABR plus 4.50% per annum. The Roll-Up Term Loans bear interest and have payment and prepayment terms substantially consistent with the Class A Loans.

Additionally, the New Money Term Loans are subject to (i) a 2.00x multiple-on-invested-capital (“MOIC”), payable in cash upon partial or full repayment, prepayment, maturity or (ii) acceleration of the New Money Term Loans. The MOIC steps down to 1.75x

for repayments occurring on or after January 1, 2026 but prior to April 1, 2027 and to 1.50x for repayments occurring on or after the closing date of the Superpriority Facility and prior to January 1, 2026. The MOIC payable is accrued over the term of the New Money Term Loans using the effective interest method. As of September 30, 2025, the Company recorded a liability of $1.1 million related to the MOIC payable which is recorded in “Long-term debt, net of current portion” on the Condensed Consolidated Balance Sheets and included in the outstanding principal balance of the New Money Term Loans.

Pursuant to Amendment No. 14 and the Superpriority Credit Agreement, the Company recognized an aggregate loss on extinguishment of debt of $1.7 million. The Company recorded debt discounts of $25.1 million related to the Class A common stock issued as non-cash consideration pursuant to Amendment No. 14 and $2.4 million of closing fees payable in-kind, and thus capitalized and added to the outstanding principal balance. The Company paid an additional $8.0 million in debt issuance costs. The total debt discount and debt issuance costs are being amortized over the life of the debt to interest expense using the effective interest method.

As of September 30, 2025 and December 31, 2024, the Borrower had a principal amount of $501.7 million and $475.0 million outstanding under the Existing Term Loan Facility, respectively. The effective interest rate of the Existing Term Loan Facility was 15.5% and 12.06% as of September 30, 2025 and December 31, 2024, respectively.

As of September 30, 2025, the Borrower had a principal amount of $56.3 million outstanding under the Class A Loans with an effective interest rate of 15.5%. As of December 31, 2024, the Company had a principal amount of $30.0 million outstanding under the Class A Revolving Credit Facility and a remaining capacity of $58.5 million. As of December 31, 2024, the Company had no amounts outstanding and a remaining capacity of $35.0 million under the Class A-1 Revolving Credit Facility. Following the entry into Amendment No. 14, revolving commitments under the Class A Revolving Credit Facility and Class A-1 Revolving Credit Facility were terminated and amounts repaid or prepaid in respect to the Class A Loans may not be reborrowed.

As of September 30, 2025, the Borrower had a principal amount of $43.5 million and $35.0 million outstanding under the New Money Term Loans and Roll-Up Term Loans, respectively. The effective interest rates of the New Money Term Loans and Roll-Up Term Loans as of September 30, 2025 were 25.6% and 9.8%, respectively.

Guarantees and Security

Blizzard Midco, LLC, the Borrower and certain other subsidiaries of the Company are guarantors of the Borrower’s obligations under the Existing Credit Agreement. In addition, the obligations of the Borrower are secured by a first priority lien on substantially all of such guarantors’ assets, including a pledge of all of the equity interests of each of their respective subsidiaries, in each case, subject to customary exceptions and limitations.

All principal, interest, premium, fees and other obligations in respect of the Superpriority Term Loans are (i) jointly and severally guaranteed by the subsidiaries of the Company that guarantee the Existing Credit Agreement, and any future material subsidiaries that execute a joinder to the guaranty and related collateral agreements and (ii) secured by a first priority lien on substantially all of the Borrower’s and the guarantors’ assets, subject to certain customary exceptions, on a senior basis to, and with payment priority senior to, all obligations outstanding under the Existing Credit Agreement on the closing date, subject to certain exceptions. In addition, pursuant to the Superpriority Credit Agreement, the Borrower is not permitted to make voluntary or mandatory prepayments of the Class A Revolving Loans and/or the Existing Term Loans, other than payment of amortization in respect of the Existing Term Loans, prior to the repayment in full, in cash, of the Superpriority Term Loan obligations.

Covenants and Other Matters

The Existing Credit Agreement contains a number of covenants that, among other things and subject to certain exceptions, restrict the Borrower’s and its restricted subsidiaries’ ability to incur indebtedness; incur certain liens; consolidate, merge or sell or otherwise dispose of assets; make investments, loans, advances, guarantees and acquisitions; pay dividends or make other distributions on equity interests, or redeem, repurchase or retire equity interests; enter into transactions with affiliates; alter the business conducted by the Company and its subsidiaries; change their fiscal year; and amend or modify governing documents. In addition, the Existing Credit Agreement contains certain financial and non-financial covenants.

The Existing Credit Agreement also contains certain customary representations and warranties and affirmative covenants, and certain reporting obligations. In addition, the lenders under the Existing Credit Facilities are permitted to accelerate all outstanding borrowings and other obligations, terminate outstanding commitments and exercise other specified remedies upon the occurrence of certain events of default (subject to certain grace periods and exceptions), which include, among other things, payment defaults, breaches of representations and warranties, covenant defaults, certain cross-defaults and cross-accelerations to other indebtedness, certain events of bankruptcy and insolvency, certain judgments and changes of control. Subject to certain limited exceptions, substantially all of the Company’s assets are restricted from distribution.

Pursuant to the Superpriority Credit Agreement, the Borrower will be required to comply with a minimum liquidity covenant of (i)

$5.0 million at the end of each calendar week, commencing with the calendar week beginning October 5, 2025, (ii) $15.0 million at the end of each calendar week, commencing with the calendar week beginning March 29, 2026, (iii) $20.0 million at the end of each calendar week, commencing with the calendar week beginning June 28, 2026, and (iv) $30.0 million at the end of each calendar week, commencing with the calendar week beginning September 27, 2026 and thereafter; provided, that during any

period ending during the fiscal year ending December 31, 2026 and thereafter where the last business day of any calendar week therein occurs during the month of October, November or December, minimum liquidity shall instead be $10.0 million.

The Superpriority Credit Agreement contains customary non-financial covenants consistent with the Existing Credit Agreement that limit, among other things, mergers and acquisitions; investments, loans, and advances; affiliate transactions; changes to capital structure and the business; additional indebtedness; additional liens; the payment of dividends; and the sale of assets, in each case, subject to certain customary exceptions. In addition, the Superpriority Credit Agreement contains a covenant pursuant to which the Borrower and its subsidiaries are restricted from pursuing certain “liability management transactions” without the consent of the lenders holding a majority of the Roll-Up Term Loans and also includes certain restrictions on future financings.

The Superpriority Credit Agreement also contains customary events of default, including payment defaults, breaches of representations and warranties, covenant defaults, defaults under other material debt, events of bankruptcy and insolvency, failure of any guaranty or security document to be in full force and effect, and a change of control of the business.

Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Definite-lived Amortizable Intangible Assets


	Sep. 30, 2025
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount
Developed technology	$	496,000	$	428,686	$	67,314	$	—
Customer relationships	232,000		140,360		91,640		—
Total intangible assets subject to amortization	$	728,000	$	569,046	$	158,954	$	—
Indefinite-lived trade names							—
Total intangible assets							$	—


	Dec. 31, 2024
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	496,000	$	375,543	$	120,457
Customer relationships	232,000		122,960		109,040
Total intangible assets subject to amortization	$	728,000	$	498,503	$	229,497
Indefinite-lived trade names					73,000
Total intangible assets					$	302,497

Schedule of Indefinite-lived Intangible Trade Names


	Sep. 30, 2025
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount
Developed technology	$	496,000	$	428,686	$	67,314	$	—
Customer relationships	232,000		140,360		91,640		—
Total intangible assets subject to amortization	$	728,000	$	569,046	$	158,954	$	—
Indefinite-lived trade names							—
Total intangible assets							$	—


	Dec. 31, 2024
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	496,000	$	375,543	$	120,457
Customer relationships	232,000		122,960		109,040
Total intangible assets subject to amortization	$	728,000	$	498,503	$	229,497
Indefinite-lived trade names					73,000
Total intangible assets					$	302,497

Net Income (Loss) Per Share - Schedule of Reconciliation of the Numerator and Denominator Used in the Calculation of Basic and Diluted Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Numerator:
Net income (loss)	$ (313,918)	$ 15,366	$ (439,693)	$ (65,294)
Less: Net income (loss) attributable to non-controlling interests	(148,072)	8,591	(215,162)	(36,857)
Net income (loss) attributable to GoHealth, Inc.	(165,846)	6,775	(224,531)	(28,437)
Less: Dividends accumulated on redeemable convertible preferred stock	989	923	2,917	2,722
Net income (loss) attributable to common stockholders - basic	(166,835)	5,852	(227,448)	(31,159)
Add: Dividends accumulated on redeemable convertible preferred stock	0	923	0
Net income (loss) attributable to common stockholders - diluted	$ (166,835)	$ 6,775	$ (227,448)	$ (31,159)
Denominator:
Weighted-average shares of Class A common stock outstanding — basic (in shares)	14,136	10,077	11,884	9,922
Effect of dilutive securities:
Equity awards (in shares)	0	424	0	0
Redeemable convertible preferred stock (in shares)	0	4,079	0	0
Weighted-average shares of Class A common stock outstanding—dilutive (in shares)	14,136	14,580	11,884	9,922
Net income (loss) per share of Class A common stock — basic (in dollars per share)	$ (11.80)	$ 0.58	$ (19.14)	$ (3.14)
Net income (loss) per share of Class A common stock — diluted (in dollars per share)	$ (11.80)	$ 0.46	$ (19.14)	$ (3.14)

Share-Based Compensation Plans

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation Plans

SHARE-BASED COMPENSATION PLANS

The following table summarizes share-based compensation expense (benefit) by operating function for the periods presented:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands)	2025		2024		2025		2024
Marketing and advertising	$	73	$	75	$	222	$	203
Consumer care and enrollment	147		189		575		841
Technology	221		293		727		780
General and administrative(1)	3,054		2,302		4,640		4,710
Total share-based compensation expense (benefit)	$	3,495	$	2,859	$	6,164	$	6,534

Share-Based Compensation Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense (benefit)	$ 3,495	$ 2,859	$ 6,164	$ 6,534
Marketing and advertising
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense (benefit)	73	75	222	203
Consumer care and enrollment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense (benefit)	147	189	575	841
Technology
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense (benefit)	221	293	727	780
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense (benefit)	$ 3,054	$ 2,302	$ 4,640	$ 4,710

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Leases - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Narrative (Details) $ in Thousands	Sep. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2025 USD ($) lease	Sep. 30, 2024 USD ($)
Leases [Abstract]
Operating lease impairment charges	$ 4,500	$ 0	$ 5,300	$ 0
Impaired remeasurement gain			$ 300
Number of leases terminated early \| lease			2

STOCKHOLDERS' EQUITY (DEFICIT) - Issuance of Shares of Class A Common Stock (Details) - Revolving Credit Facilities - Term Loan Facilities and/or Class A Revolving Loans	Aug. 06, 2025 shares
Class of Stock [Line Items]
Shares issued in connection with debt agreement amendment (in shares)	4,766,219
Debt Instrument, Redemption, Period One
Class of Stock [Line Items]
Debt instrument, percentage of total issued and outstanding common stock	0.1999
Debt Instrument, Redemption, Period Two
Class of Stock [Line Items]
Debt instrument, percentage of total issued and outstanding common stock	0.1666

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Disaggregation of Revenue [Line Items]
Unbilled receivables for performance-based enrollment fees	$ 4.2		$ 4.2		$ 20.9
Decrease in unbilled receivables for performance based enrollment fees			16.7
Accrued payments for revenue share	19.8		19.8		$ 29.8
Revenue recognized that was previously deferred	2.1	$ 7.6	$ 49.0	$ 51.1
One Customer \| Accounts receivable and unbilled receivables \| Customer concentration risk
Disaggregation of Revenue [Line Items]
Revenue percent			91.50%
Accounts receivable and unbilled receivables	$ 1.6		$ 1.6
Two Customers \| Accounts receivable and unbilled receivables \| Customer concentration risk
Disaggregation of Revenue [Line Items]
Revenue percent					74.60%
Accounts receivable and unbilled receivables					$ 17.6

Subsequent Events (Details) $ in Thousands		3 Months Ended	9 Months Ended
Subsequent Events (Details) $ in Thousands	Nov. 03, 2025 employee	Sep. 30, 2025 USD ($)	Sep. 30, 2025 USD ($)
Subsequent Event [Line Items]
Restructuring charges \| $		$ 0	$ 0
Subsequent event
Subsequent Event [Line Items]
Number of employees impacted \| employee	487
Restructuring period (in months)	2 months

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Leases [Abstract]
Operating lease cost	$ 1,619	$ 1,859	$ 5,607	$ 5,806
Short-term lease cost	0	9	3	46
Variable lease cost	24	55	106	326
Sublease income	(749)	(689)	(1,977)	(1,865)
Total net lease expense	$ 894	$ 1,234	$ 3,739	$ 4,313

Segment Reporting	9 Months Ended
Segment Reporting	Sep. 30, 2025
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING Operating segments are identified as components of an enterprise about which separate discrete financial information is available and regularly reviewed by the chief operating decision maker (“CODM”). The Company has one operating and reportable segment, which has the same accounting policies as the significant account policies disclosed in the notes to the Company’s audited Consolidated Financial Statements as of and for the year ended December 31, 2024, which were included in the Company’s 2024 Annual Report on Form 10-K. The single operating and reportable segment aligns with the Company’s core focus on the sale and administration of Medicare products and reflects how the CODM evaluates the Company’s operating and financial performance, which is on a consolidated basis. The Company’s CODM is its Chief Executive Officer. The primary services provided by the Company relate to the sale and administration of Medicare insurance products offered by the health plan partners with which GoHealth has contractual relationships. The health plan partners are responsible for paying commissions and fees for enrollment and engagement services and, for these purposes, act as GoHealth’s customers. The Company derives substantially all of its revenues from customers located in the United States. The measure of segment assets is reported on the Condensed Consolidated Balance Sheets as consolidated total assets. Substantially all of the Company’s assets are located in the United States. The CODM assesses the Company’s performance and decides how to allocate resources based on consolidated net income (loss), as presented on the Condensed Consolidated Statements of Operations. The significant expenses that are regularly provided to the CODM and included within consolidated net income (loss) are consistent with those that are presented on the Condensed Consolidated Statements of Operations. Budget approval, which primarily drives resource allocation, is prepared and approved at a consolidated level. Consolidated net income (loss) is used to monitor budget versus actual results. The CODM also uses consolidated net income (loss) to identify trends in the Company’s performance over time and to benchmark the Company’s performance against its competitors.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	50,000	50,000
Preferred stock, shares outstanding (in shares)	50,000	50,000
Series A Convertible Preferred Stock
Convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Convertible preferred stock, shares authorized (in shares)	50,000	50,000
Convertible preferred stock, shares issued (in shares)	50,000	50,000
Convertible preferred stock, shares outstanding (in shares)	50,000	50,000
Convertible preferred stock, liquidation preference	$ 57.5	$ 54.6
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,100,000,000	1,100,000,000
Common stock, shares issued (in shares)	16,803,000	10,614,000
Common stock, shares outstanding (in shares)	16,032,000	10,292,000
Treasury stock, at cost (in shares)	771,000	322,000
Class B common stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	615,825,000	615,917,000
Common stock, shares issued (in shares)	12,621,000	12,711,000
Common stock, shares outstanding (in shares)	12,621,000	12,711,000
Series A-1 Convertible Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	200,000	200,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Indefinite and long-lived asset impairment charges	$ 179,000		$ 232,000
Indefinite and long-lived asset impairment charges	206,163	$ 0	259,961	$ 0
Indefinite-lived trade names	$ 0		$ 0

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Operating Activities
Net income (loss)	$ (439,693)	$ (65,294)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Share-based compensation	6,164	6,534
Depreciation and amortization	9,154	8,420
Amortization of intangible assets	70,542	70,542
Amortization of debt discount and issuance costs	4,687	7,319
Deferred tax liability	403	0
Non-cash lease expense	2,459	2,907
Other non-cash items	(346)	(98)
Accrued interest payable in kind	27,322	0
Loss on extinguishment of debt	1,655	0
Indefinite and long-lived asset impairment charges	259,961	0
Gain on bargain purchase	0	(77,363)
Changes in assets and liabilities:
Accounts receivable	4,450	(4,578)
Commissions receivable	89,598	104,570
Prepaid expenses and other assets	18,327	28,644
Accounts payable	(2,739)	(4,268)
Accrued liabilities	(60,383)	(44,227)
Deferred revenue	(24,526)	(9,708)
Commissions payable	(42,291)	(44,735)
Operating lease liabilities	(3,874)	(4,976)
Other liabilities	(3,743)	(9,900)
Net cash provided by (used in) operating activities	(82,873)	(36,211)
Investing Activities
Acquisition of business, net	0	17,536
Purchases of property, equipment and software	(8,248)	(11,511)
Net cash provided by (used in) investing activities	(8,248)	6,025
Financing Activities
Repayment of borrowings	(2,375)	(50,000)
Proceeds from borrowings	97,999	40,000
Debt issuance cost payments	(8,408)	(13,584)
Repurchase of shares to satisfy employee tax withholding obligations	(5,130)	(1,484)
Proceeds from stock option exercises	1	4
Net cash provided by (used in) financing activities	82,087	(25,064)
Effect of exchange rate changes on cash and cash equivalents	189	(32)
Increase (decrease) in cash and cash equivalents	(8,845)	(55,282)
Cash and cash equivalents at beginning of period	40,921	90,809
Cash and cash equivalents at end of period	32,076	35,527
Non-cash investing and financing activities:
Purchases of property, equipment and software included in accounts payable	$ 0	$ 154

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Legal Proceedings On May 19, 2021, a derivative action (the “Derivative Action”) was filed in the U.S. District Court for the Northern District of Illinois, purportedly on behalf of the Company and against certain of the Company’s officers and directors. The Derivative Action alleges breaches of fiduciary duty and other claims, based on substantially the same factual allegations as those alleged in the now-resolved Securities Class Action, which had included allegations that the Registration Statement filed in connection with the IPO was negligently prepared and, as a result, contained untrue statements of material fact, omitted material facts necessary to make the statements contained therein not misleading and failed to make necessary disclosures required under the rules and regulations governing its preparation, including the Securities Act of 1933 (the “Securities Class Action”). On June 6, 2022, the Derivative Action was stayed pursuant to the parties’ stipulation. The settlement in the Securities Class Action, which was approved on May 22, 2024, did not resolve the Derivative Action. The parties have reached an agreement in principle providing for a settlement, subject to the court’s approval, of all claims that have been or could have been asserted in the Derivative Action in exchange for, among other things, certain corporate reforms to be implemented by the Company for a designated compliance period. The parties are in the process of preparing the required documentation to present to the court for its consideration and approval of the settlement. On January 15, 2025, we were made aware that the Department of Justice (“DOJ”) filed a notice of intervention in a pending qui tam proceeding filed by private party relators under seal related to our arrangements with certain insurance health plan partners. On May 1, 2025, the DOJ filed a complaint in partial intervention (the “Complaint”) in the U.S. District Court for the District of Massachusetts intervening in the previously sealed case against multiple insurers who sponsor Medicare Advantage plans and multiple brokers those insurers appointed to sell their plans, including GoHealth. The relator, Andrew Shea, filed the original lawsuit in the U.S. District Court for the District of Massachusetts on behalf of the United States on November 2, 2021 under seal. The current matter is captioned United States of America ex rel. Andrew Shea v. eHealth, Inc., eHealth Insurance Services, Inc., CVS Health Corporation, Aetna Life Insurance Company, Aetna, Inc., Humana Inc., Elevance Health Inc., GoHealth, Inc., and SelectQuote, Inc., No. 21-CV-11777-DJC. The claims in both the Complaint, as well as the relator’s original complaint, are based on alleged violations of the False Claims Act and the Anti-Kickback Statute. Specifically, plaintiffs allege, in relevant part, that the Company was compensated and discriminated against individuals in violation of federal law. The Complaint seeks, among other things, treble damages, civil penalties and costs. The ultimate outcome of any damages that may become payable if its defense is unsuccessful in whole or in part is not probable nor estimable at this time. The Company intends to vigorously defend against these allegations. All defendants filed motions to dismiss which are currently pending. While the Company feels confident in its defenses, there can be no assurance that it will prevail or that damages awarded will not be material to the results of operations or financial condition of the Company.

Fair Value Measurements

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The Company defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques the Company uses to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The Company has applied the provisions of fair value accounting for purposes of computing the fair value of financial instruments for disclosure purposes as presented below.


Level 1 Inputs						Unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2 Inputs						Unadjusted quoted prices in active markets for similar assets or liabilities; unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability.
Level 3 Inputs						Unobservable inputs for the asset or liability.

Fair Value Measurements

The carrying amount of certain financial instruments, including cash and cash equivalents, accounts receivable, unbilled receivables, accounts payable and accrued expenses approximate fair value due to the short maturity of these instruments. The carrying value of debt approximates fair value due to the variable nature of interest rates.

The Company recorded long-lived asset impairment charges of $206.2 million and $260.0 million during the three and nine months ended September 30, 2025, respectively, which are included in “Indefinite and long-lived asset impairment charges” on the Condensed Consolidated Statements of Operations.

As part of the Company’s continued cost savings initiatives, the Company is actively looking to terminate or sublease certain office spaces and call centers. These actions resulted in $4.5 million in operating lease impairment charges for the three months ended September 30, 2025 and $5.3 million in operating lease impairment charges for the nine months ended September 30, 2025 which are recorded in “Indefinite and long-lived asset impairment charges” on the Condensed Consolidated Statements of Operations. There were no operating lease impairment charges for the three and nine months ended September 30, 2024. The operating lease impairment charges reduce the carrying value of the associated ROU assets and leasehold improvements to their estimated fair values. The fair values are estimated using a discounted cash flows approach based on forecasted future cash flows expected to be derived from the property based on current sublease market rent, which is considered a level 3 input in the fair value hierarchy, and other key assumptions such as future sublease market conditions and the discount rate.

During the three months ended September 30, 2025, the Company identified indicators of impairment related to its indefinite-lived intangible assets and long-lived assets, primarily related to revised long-term forecasts, reflecting the Company’s intentional pullback on Medicare Advantage activity in response to tightening health plan economics such as a reduction in the number of marketable and/or commissionable plans offered by health plan partners. The revised forecasts led to a reduction in the projected future cash flows associated with the Company’s trade name, developed technology and customer relationships and other long-lived assets, triggering an interim impairment assessment. The Company first tested its indefinite-lived trade name intangible asset. The revised forecast led to a reduction in the projected future cash flows associated with the trade name resulting in a $20.0 million and $73.0 million impairment charge for the three and nine months ended September 30, 2025, respectively, which are included in “Indefinite and long-lived asset impairment charges” on the Condensed Consolidated Statements of Operations. The Company also tested its long-lived assets for impairment by first performing a recoverability test, comparing projected undiscounted cash from the use and eventual disposition of the asset group to its carrying value. The recoverability test indicated that the undiscounted cash flows were not sufficient to recover the carrying value of the Company’s asset group. The Company then compared the fair value of the asset group to its carrying value to measure the amount of impairment to record. The impairment charge was then allocated to individual long-lived assets in accordance with ASC 360. As a result, the Company recorded intangible asset impairment charges of $159.0 million for the three and nine months ended September 30, 2025 to write down the carrying value of its definite-lived amortizable intangible assets to zero. The Company also recorded impairment charges related to capitalized software, and property and equipment of $22.7 million for each of the three and nine months ended September 30, 2025.

Determination of fair value of the trade name involves utilizing the relief-from-royalty under the income approach which contains significant estimates and assumptions including, among others, revenue projections as well as selecting appropriate royalty and discount rates, which are considered a level 3 input in the fair value hierarchy. Determination of the fair value of other long-lived assets involves utilizing the income approach which contains significant estimates and assumptions about forecasted revenue, expenses, and discount rates. While the Company believes the judgments and assumptions are reasonable, different assumptions could change the estimated fair value. Weakening industry or economic trends, disruptions to the Company's business, changes in discount rate assumptions, unexpected significant changes or planned changes in the use of the assets or in the Company’s entity structure are all factors which may adversely impact the assumptions used in the valuation.

There was no impairment of indefinite and long-lived assets for the three and nine months ended September 30, 2024. For more information, refer to Note 3, “Intangible Assets, Net.”

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Long-Term Debt - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Sep. 30, 2025 USD ($)
Debt Disclosure [Abstract]
Remainder of 2025	$ 0
2026	0
2027	9,500
2028	9,500
2029	617,458
Thereafter	0
Total	$ 636,458

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 32,076	$ 40,921
Accounts receivable, net	2	4,452
Commissions receivable - current	238,947	320,399
Prepaid expense and other current assets	16,437	34,639
Total current assets	287,462	400,411
Commissions receivable - non-current	725,074	733,161
Operating lease ROU asset	10,138	19,317
Property, equipment, and capitalized software, net	5,558	29,320
Intangible assets, net	0	302,497
Other long-term assets	2,254	3,717
Total assets	1,030,486	1,488,423
Current liabilities:
Accounts payable	11,853	14,591
Accrued liabilities	60,913	121,346
Commissions payable - current	65,088	98,771
Short-term operating lease liability	4,916	5,705
Deferred revenue	29,195	53,720
Current portion of long-term debt	0	39,500
Other current liabilities	3,717	4,419
Total current liabilities	175,682	338,052
Non-current liabilities:
Commissions payable - non-current	169,049	177,656
Long-term operating lease liability	29,958	34,900
Deferred tax liability	22,754	22,350
Long-term debt, net of current portion	581,844	447,865
Other non-current liabilities	2,227	9,200
Total non-current liabilities	805,832	691,971
Commitments and Contingencies (Note 11)
Stockholders’ equity (deficit):
Preferred stock	0	0
Additional paid-in capital	725,242	669,346
Accumulated other comprehensive income (loss)	(55)	(151)
Accumulated deficit	(647,739)	(423,208)
Total stockholders’ equity (deficit) attributable to GoHealth, Inc.	68,170	241,839
Non-controlling interests	(75,078)	163,599
Total stockholders’ equity (deficit)	(6,908)	405,438
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)	1,030,486	1,488,423
Series A Convertible Preferred Stock
Non-current liabilities:
Series A redeemable convertible preferred stock — $0.0001 par value; 50 shares authorized; 50 shares issued and outstanding as of both September 30, 2025 and December 31, 2024. Liquidation preference of $57.5 million and $54.6 million as of September 30, 2025 and December 31, 2024, respectively.	55,880	52,962
Class A Common Stock
Stockholders’ equity (deficit):
Common stock	1	1
Treasury stock – at cost; 771 and 322 shares of Class A common stock as of September 30, 2025 and December 31, 2024, respectively.	(9,280)	(4,150)
Class B Common Stock
Stockholders’ equity (deficit):
Common stock	1	1
Series A-1 Convertible Preferred Stock
Stockholders’ equity (deficit):
Preferred stock	$ 0	$ 0

Description of Business and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2025
Accounting Policies [Abstract]
Consolidation	The Company was incorporated in Delaware on March 27, 2020 for the purpose of facilitating an initial public offering (the “IPO”) and other related transactions in order to carry on the business of GHH, LLC, a Delaware limited liability company, and its controlled subsidiaries (collectively, “GHH, LLC”). Following the IPO and pursuant to a reorganization into a holding company structure, the Company is a holding company and its principal asset is a controlling equity interest in GHH, LLC. As the sole managing member of GHH, LLC, the Company operates and controls all of the business and affairs of GHH, LLC, and through GHH, LLC and its subsidiaries, conducts its business. As a result, the Company consolidates GHH, LLC’s financial results in its Condensed Consolidated Financial Statements and reports non-controlling interests for the economic interest in GHH, LLC held by the Continuing Equity Owners.
Basis of Presentation	The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, but do not include all information and footnote disclosures required under GAAP for annual financial statements. The accompanying Condensed Consolidated Financial Statements and related notes should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company’s 2024 Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on February 27, 2025. In the opinion of management, the interim Condensed Consolidated Financial Statements include all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the Company’s financial position, results of operations and cash flows as of the dates and for the periods presented. All intercompany transactions and balances are eliminated in consolidation.
Reclassifications	Certain prior period amounts have been reclassified to conform with the current period presentation. The Company reclassified $19.3 million related to certain commissions payable to external agents from other current liabilities to commissions payable - current on the Condensed Consolidated Statements of Cash Flows for the period ended September 30, 2024 to conform to current period presentation.
Use of Estimates	Use of Estimates The preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on historical experience and various other assumptions that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.
Seasonality	Seasonality The Medicare annual enrollment period (“AEP”) occurs from October 15th to December 7th. As a result, and in general, the Company experiences an increase in the number of Submissions during the fourth quarter and an increase in expense related to the Submissions during the third and fourth quarters. Additionally, as a result of the annual Medicare Advantage open enrollment period that occurs from January 1st to March 31st, Submissions are typically second-highest in the first quarter. The second and third quarters are known as special election periods, during which Submissions are typically lowest. A significant portion of the Company’s marketing and advertising expenses is driven by the number of health insurance applications submitted through the Company. Marketing and advertising expenses are generally higher in the fourth quarter during AEP, but because commissions from approved consumers are paid to the Company over time, the Company’s operating cash flows could be adversely impacted by a substantial increase in marketing and advertising expenses as a result of a higher volume of Submissions during the fourth quarter or positively impacted by a substantial decline in marketing and advertising expenses as a result of lower volume of Submissions during the fourth quarter.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 enhanced annual disclosures regarding the income tax rate reconciliation and income taxes paid information. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 for public business entities and annual periods beginning after December 15, 2025 for all other entities. The Company is currently assessing the impact on its related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement: Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disclosure about the types of costs and expenses included in certain expense captions presented on the income statement. The new disclosure requirements are effective for the Company’s annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the impact of this pronouncement on our related disclosures.

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

+ Details

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2025	Nov. 06, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2025
Document Transition Report	false
Entity File Number	001-39390
Entity Registrant Name	GoHealth, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-0563805
Entity Address, Address Line One	222 W Merchandise Mart Plaza, Suite 1750
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60654
City Area Code	312
Local Phone Number	386-8200
Title of 12(b) Security	Class A Common Stock,$0.0001 par value per share
Trading Symbol	GOCO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001808220
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		16,093,116
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,620,884

STOCKHOLDERS' EQUITY (DEFICIT)	9 Months Ended
STOCKHOLDERS' EQUITY (DEFICIT)	Sep. 30, 2025
Equity [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	STOCKHOLDERS' EQUITY (DEFICIT) In connection with the Company’s IPO in July 2020, the Company’s board of directors (the “Board of Directors”) approved an amended and restated certificate of incorporation and amended and restated bylaws. The amended and restated certificate of incorporation authorizes the issuance of up to 1,100,000,000 shares of Class A common stock, 690,000,000 shares of Class B common stock and 20,000,000 shares of preferred stock, each having a par value of $0.0001 per share. The number of shares of Class B common stock authorized is reduced for redemptions and forfeitures as they occur. The Company’s amended and restated certificate of incorporation and the GHH, LLC Agreement require the Company and GHH, LLC at all times to maintain a one-to-one ratio between the number of shares of Class A common stock issued by the Company and the number of LLC Interests owned by the Company, except as otherwise determined by the Company. Additionally, the Company’s amended and restated certificate of incorporation and the GHH, LLC Agreement require that the Company and GHH, LLC at all times maintain a one-to-one ratio between the number of shares of Class B common stock owned by the Continuing Equity Owners and their respective permitted transferees and the number of LLC Interests owned by the Continuing Equity Owners and their respective permitted transferees, except as otherwise determined by the Company. Only the Continuing Equity Owners and the permitted transferees of Class B common stock are permitted to hold shares of Class B common stock. Shares of Class B common stock are transferable for shares of Class A common stock only together with an equal number of LLC Interests. Holders of shares of the Company’s Class A common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. Each share of Class B common stock entitles its holders to one vote per share on all matters presented to the Company’s stockholders generally. Holders of shares of Class B common stock will vote together with holders of the Company’s Class A common stock as a single class on all matters presented to the Company’s stockholders for their vote or approval, except for certain amendments to the Company’s amended and restated certificate of incorporation or as otherwise required by applicable law or the amended and restated certificate of incorporation. Holders of the Class B common stock are not entitled to participate in any dividends declared by the Board of Directors. Under the terms of the Company’s amended and restated certificate of incorporation, the Board of Directors is authorized to direct the Company to issue shares of preferred stock in one or more series without stockholder approval. The Board of Directors has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred stock. The Continuing Equity Owners may, subject to certain exceptions, from time to time at each of their options require GHH, LLC to redeem all or a portion of their LLC Interests in exchange for, at the Company’s election (determined by at least two of the Company’s independent directors who are disinterested), newly-issued shares of Class A common stock on a one-for-one basis, or to the extent there is cash available from a secondary offering, a cash payment equal to a volume weighted average market price of one share of the Company’s Class A common stock for each LLC Interest so redeemed, in each case, in accordance with the terms of the GHH, LLC Agreement. The weighted average ownership percentages for the applicable reporting periods are used to attribute net income (loss) and other comprehensive income (loss) to the Company and the non-controlling interest holders. Non-controlling interest represents the economic interest in GHH, LLC held directly or indirectly by the Continuing Equity Owners. The non-controlling interest holders' weighted average ownership percentages for the three and nine months ended September 30, 2025 were 47.2% and 51.5%, respectively. The non-controlling interest holders' weighted average ownership percentages for the three and nine months ended September 30, 2024 were 55.9% and 56.3%, respectively. Upon the Company’s dissolution or liquidation, after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any, holders of Class A common stock and Class B common stock will be entitled to receive ratable portions of the Company’s remaining assets available for distribution; provided, that the holders of Class B common stock shall not be entitled to receive more than $0.0001 per share of Class B common stock and upon receiving such amount, shall not be entitled to receive any of the Company’s other assets or funds with respect to such shares of Class B common stock. Redeemable Convertible Preferred Stock On September 23, 2022 (the “Closing Date”), the Company issued 50,000 shares of the Company’s Series A Convertible Perpetual Preferred Stock (the “Issuance”), par value $0.0001 per share (the “Series A redeemable convertible preferred stock”), to Anthem Insurance Companies, Inc. and GH 22 Holdings, Inc. (the “Purchasers”) for an aggregate purchase price of $50.0 million, at $1,000 per share of the Series A redeemable convertible preferred stock. The Company is authorized to issue 20,000,000 shares of preferred stock with a par value of $0.0001 per share as of both September 30, 2025 and December 31, 2024, which had not been designated to any specific classes of preferred stock prior to the Closing Date. On the Closing Date, the Company designated and authorized the issuance of 50,000 shares under the Series A redeemable convertible preferred stock and 200,000 shares under the Series A-1 Convertible Non-Voting Perpetual Preferred Stock (the “Series A-1 convertible preferred stock”). The Series A redeemable convertible preferred stock ranks senior to the shares of the Company’s Class A common stock and Class B common stock with respect to dividend rights and rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company. The Series A redeemable convertible preferred stock has an initial liquidation preference of $1,000 per share, which shall increase by accumulated quarterly dividends that are not paid in cash (“compounded dividends”). Dividends on each share of Series A redeemable convertible preferred stock shall accrue at an annual rate equal to 7.0%. Holders of Series A-1 convertible preferred stock are only entitled to dividends if the Company declares such dividends. For the three and nine months ended September 30, 2025, the Company accrued $1.0 million and $2.9 million, respectively, of dividends relating to the Series A redeemable convertible preferred stock that were not paid in cash. For the three and nine months ended September 30, 2024, the Company accrued $0.9 million and $2.7 million, respectively, of dividends relating to the Series A redeemable convertible preferred stock that were not paid in cash. The accrued dividends are included in temporary equity on the Condensed Consolidated Balance Sheets. The Series A redeemable convertible preferred stock is convertible in full at the option of the holders into the number of shares of Class A common stock equal to the quotient of (a) the sum of (i) the liquidation preference (reflecting increases for compounded dividends) plus (ii) the accrued dividends with respect to each share of convertible preferred stock as of the applicable conversion date divided by (b) the conversion price ($9.60 as of September 30, 2025 and subject to adjustment based on certain changes to the Company’s Class A common stock) as of the applicable conversion date. Notwithstanding the foregoing, a holder of Series A redeemable convertible preferred stock may elect to receive upon conversion, in lieu of the shares of Class A common stock otherwise deliverable, one share of Series A-1 convertible preferred stock for every 1,000 shares of Class A common stock otherwise deliverable upon conversion. The Series A-1 convertible preferred stock will be essentially a substitute for the Class A common stock in the form of non-voting preferred stock. The terms of the Series A redeemable convertible preferred stock and Series A-1 convertible preferred stock contain certain anti-dilution adjustments. Subject to certain conditions, at any time after the third anniversary of the Closing Date, if the volume weighted average price per share of Class A common stock on The Nasdaq Global Market is equal to or greater than 150.0% of the then-applicable conversion price for each of at least twenty (20) trading days, whether or not consecutive, in any period of thirty (30) consecutive trading days ending on and including the trading day immediately before the Company provides the holders with notice of its election to convert all or a portion of the Series A redeemable convertible preferred stock into the relevant number of shares of Class A common stock or Series A-1 convertible preferred stock (at the election of the holder), the Company may elect to convert all or a portion of the Series A redeemable convertible preferred stock into the relevant number of shares of Class A common stock or Series A-1 convertible preferred stock. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, the holders of shares of Series A-1 convertible preferred stock (if issued upon conversion of the Series A redeemable convertible preferred stock) will be entitled, out of assets legally available therefor, and subject to the rights of the holders of any senior stock (including the Series A redeemable convertible preferred stock) or parity stock (including the Class A and Class B common stock) and the rights of the Company’s existing and future creditors, to receive an aggregate amount per share equal to 1,000 (as may be adjusted) times the aggregate amount to be distributed per share to holders of shares of Class A common stock. Each holder of a whole share of Series A-1 convertible preferred stock (if issued upon conversion of the Series A redeemable convertible preferred stock) shall be entitled to receive when, as and if declared by the Board of Directors out of funds legally available for the purpose, an amount per share equal to 1,000 (as may be adjusted) times the aggregate per share amount of all cash dividends, and 1,000 (as may be adjusted) times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions other than a dividend payable in shares of Class A common stock or a subdivision of the outstanding shares of Class A common stock (by reclassification or otherwise), declared on each share of Class A common stock since the first issuance of any share of Series A-1 convertible preferred stock. Each holder of Series A-1 convertible preferred stock (if issued upon conversion of the Series A redeemable convertible preferred stock) will have the right, at such holder’s option, to convert in full each share of such holder’s Series A-1 convertible preferred stock at such time into the number of shares of Class A common stock based upon a conversion ratio of 1,000 shares of Class A common stock for each share of Series A-1 convertible preferred stock (such ratio being subject to adjustment). Under the Certificate of Designations, holders of the Series A redeemable convertible preferred stock are entitled to vote with the holders of the Class A common stock on an as-converted basis on all matters submitted to a vote of the holders of the Class A common stock. Notwithstanding the foregoing: (1) the lead Purchaser’s voting rights shall not exceed 9.99% of the voting rights associated with the issued and outstanding shares of capital stock of the Company at any time; and (2) the voting rights of the Purchasers holding Series A redeemable convertible preferred stock, voting on an as-converted basis with the holders of the Class A common stock and the holders of any other class or series of capital stock of the Company then entitled to vote, shall be capped at the maximum amount that would not result in requiring stockholder approval for the exercise of such voting rights pursuant to the listing rules of The Nasdaq Global Market. The Series A-1 convertible preferred stock is not entitled to vote with the Class A common stock on matters submitted to a vote of the holders of the Class A common stock and will have no voting rights except as required by applicable law. In addition, holders of the preferred stock are entitled to a separate class vote with respect to, among other things, amendments to the Company’s organizational documents that materially, adversely and disproportionately affect the Series A redeemable convertible preferred stock, authorizations or issuances by the Company of securities that are senior to or pari passu with the Series A redeemable convertible preferred stock and issuing any debt security (for the avoidance of doubt, excluding any draws under the Company’s Existing Credit Agreement referenced in the Certificate of Designations), if the Company’s Consolidated Total Net Debt (as defined in the Certificate of Designations) following such action would exceed four times the Company’s Consolidated EBITDA (as defined in the Certificate of Designations) for the Company’s most recently completed four consecutive fiscal quarters. At any time following the fifth anniversary of the Closing Date, the Company may redeem the Series A redeemable convertible preferred stock, in whole or in part, for a per share amount in cash equal to the liquidation preference (reflecting increases for compounded dividends) thereof plus all accrued dividends as of the applicable redemption date. Upon certain change of control events involving the Company, (i) a holder of the Series A redeemable convertible preferred stock may, so long as such payment would not otherwise result in a breach of, or event of default under, then-existing credit agreements, indentures or other financing arrangements, require the Company to purchase and (ii) subject to a holder’s right to convert its shares of Series A redeemable convertible preferred stock into Class A common stock or Series A-1 convertible preferred stock at the then-current conversion price, the Company may elect to purchase, all or a portion of such holder’s shares of Series A redeemable convertible preferred stock that have not been so converted, in each case at a purchase price per share of Series A redeemable convertible preferred stock, payable in cash, equal to (i) if the change of control effective date occurs at any time prior to the fifth anniversary of the Closing Date, 160.0% of a Purchaser’s original investment amount and (ii) if the change of control effective date occurs on or after the fifth anniversary of the Closing Date, the liquidation preference (reflecting increases for compounded dividends) of such share of Series A redeemable convertible preferred stock plus the accrued dividends in respect of such share of Series A redeemable convertible preferred stock as of the change of control purchase date. The Purchasers have entered into a customary registration rights agreement with respect to shares of Class A common stock held by the Purchasers issued upon any future conversion of the Series A redeemable convertible preferred stock or Series A-1 convertible preferred stock. In connection with the Issuance, the Company, as the managing member of GHH, LLC, caused GHH, LLC (i) to issue to the Company, in exchange for the proceeds from the Issuance, Series A preferred units and (ii) to authorize another series of preferred units, in each case having an aggregate liquidation preference and having terms substantially economically equivalent to the aggregate liquidation preference and the economic terms of the Series A redeemable convertible preferred stock and the Series A-1 convertible preferred stock, respectively, and entered into Amendment No. 2 to the GHH, LLC Agreement to effectuate the same. The Company classifies the Series A redeemable convertible preferred stock and Series A-1 convertible preferred stock outside of permanent equity as temporary equity since the redemption of such shares is not solely within the Company’s control. The Company does not remeasure the redeemable convertible preferred stock because it is not currently redeemable and not probable of becoming redeemable. The redeemable convertible preferred stock was recorded at fair value upon issuance, net of issuance costs of $1.6 million. Issuance of Shares of Class A Common Stock As consideration for, and as a condition to, the lenders’ entry into Amendment No. 14 to the Existing Credit Agreement, on August 6, 2025, the Company issued to lenders (or their affiliates) holding Class A Revolving Loans and Existing Term Loans (for these purposes, the “Subscribers”), pro rata based on their respective holdings thereof, an aggregate of 4,766,219 shares of Class A common stock, which represented an aggregate of 19.99% of the total issued and outstanding shares of the Company’s Class A common stock and Class B common stock, calculated immediately prior to the consummation of the transactions contemplated by Amendment No. 14, or 16.66% post-closing. Pursuant to a Registration Rights Agreement among the Company and the Subscribers (as amended), the Subscribers are entitled to certain customary registration rights with respect to the shares issued to them. Refer to Note 4, “Long-Term Debt” for more information.

- Definition

The entire disclosure for equity.

+ References

+ Details

Net Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Schedule of Reconciliation of the Numerator and Denominator Used in the Calculation of Basic and Diluted Net Income (Loss) Per Share

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per share of Class A common stock is as follows:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands, except per share amounts)	2025		2024		2025		2024
Numerator:
Net income (loss)	$	(313,918)	$	15,366	$	(439,693)	$	(65,294)
Less: Net income (loss) attributable to non-controlling interests	(148,072)		8,591		(215,162)		(36,857)
Net income (loss) attributable to GoHealth, Inc.	(165,846)		6,775		(224,531)		(28,437)
Less: Dividends accumulated on redeemable convertible preferred stock	989		923		2,917		2,722
Net income (loss) attributable to common stockholders - basic	(166,835)		5,852		(227,448)		(31,159)
Effect of dilutive securities:
Add: Dividends accumulated on redeemable convertible preferred stock	—		923		—		—
Net income (loss) attributable to common stockholders - diluted	(166,835)		6,775		(227,448)		(31,159)

Denominator:
Weighted-average shares of Class A common stock outstanding—basic	14,136		10,077		11,884		9,922
Effect of dilutive securities:
Equity awards	—		424		—		—
Redeemable convertible preferred stock	—		4,079		—		—
Weighted-average shares of Class A common stock outstanding—dilutive	14,136		14,580		11,884		9,922

Net income (loss) per share of Class A common stock—basic	$	(11.80)	$	0.58	$	(19.14)	$	(3.14)
Net income (loss) per share of Class A common stock—diluted	$	(11.80)	$	0.46	$	(19.14)	$	(3.14)

Schedule of Antidilutive Securities Excluded From Calculation of Diluted Income (Loss) Per Share

The following number of shares were excluded from the calculation of diluted income (loss) per share of Class A common stock because the effect of including such potentially dilutive shares would have been antidilutive:


	Sep. 30,
(in thousands)	2025	2024
Equity awards	3,471	2,479
Redeemable convertible preferred stock	4,113	3,989
Class B common stock	12,621	12,775

Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

NET INCOME (LOSS) PER SHARE

Basic income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted income (loss) per share is computed giving effect to all potentially dilutive shares.

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per share of Class A common stock is as follows:


	Three months ended Sep. 30,				Nine months ended Sep. 30,
(in thousands, except per share amounts)	2025		2024		2025		2024
Numerator:
Net income (loss)	$	(313,918)	$	15,366	$	(439,693)	$	(65,294)
Less: Net income (loss) attributable to non-controlling interests	(148,072)		8,591		(215,162)		(36,857)
Net income (loss) attributable to GoHealth, Inc.	(165,846)		6,775		(224,531)		(28,437)
Less: Dividends accumulated on redeemable convertible preferred stock	989		923		2,917		2,722
Net income (loss) attributable to common stockholders - basic	(166,835)		5,852		(227,448)		(31,159)
Effect of dilutive securities:
Add: Dividends accumulated on redeemable convertible preferred stock	—		923		—		—
Net income (loss) attributable to common stockholders - diluted	(166,835)		6,775		(227,448)		(31,159)

Denominator:
Weighted-average shares of Class A common stock outstanding—basic	14,136		10,077		11,884		9,922
Effect of dilutive securities:
Equity awards	—		424		—		—
Redeemable convertible preferred stock	—		4,079		—		—
Weighted-average shares of Class A common stock outstanding—dilutive	14,136		14,580		11,884		9,922

Net income (loss) per share of Class A common stock—basic	$	(11.80)	$	0.58	$	(19.14)	$	(3.14)
Net income (loss) per share of Class A common stock—diluted	$	(11.80)	$	0.46	$	(19.14)	$	(3.14)


	Sep. 30,
(in thousands)	2025	2024
Equity awards	3,471	2,479
Redeemable convertible preferred stock	4,113	3,989
Class B common stock	12,621	12,775

Shares of Class B common stock do not share in earnings and are not participating securities. Accordingly, separate presentation of income (loss) per share of Class B common stock under the two-class method has not been presented. Shares

of Series A redeemable convertible preferred stock are not participating securities as holders receive a contractual dividend. Accordingly, separate presentation of income (loss) per share of Series A redeemable convertible preferred stock under the two-class method has not been presented.