FX.co ★ NeueHealth Q1 Revenue Drops

NeueHealth, Inc., a health insurance provider, announced on Wednesday a significant upturn in its financial results. Its net income from continuing operations for the first quarter showed a profit of $5.69 million. This marks a considerable improvement from the same quarter a year ago, which saw a loss of $53.92 million.

Despite this, the company still posted a loss from continuing operations per share of $2.31, which, while significant, is much less of a blow compared to the $9.04 loss per share it experienced last year.

Overall, NeueHealth's net losses for the quarter were $28.52 million or $3.53 per share, indicating a narrowing of losses compared to $186.91 million or $23.68 per share from the same period a year ago.

However, the company's revenue for the most recent quarter dipped, decreasing to $245.1 million from the $300.55 million recorded in the previous year. Despite this, NeueHealth has optimistic projections for its full year; the company expects its revenue to reach approximately $1 billion.