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Bright Health Releases Q2 Financials in Earnings Call

What to know about Bright Health’s Q2 financial report:

  • Bright Health, the Minneapolis-based healthcare and medtech company (and funding juggernaut and IPO record-holder) has released its Q2 2021 — and first as a publicly traded company — financial reports in an earnings call
  • The company reported a Q2 revenue of $1.1 billion, a 275 percent increase from Q1 2021
    • Bright Health projects a total 2021 revenue of more than $4 billion
  • Despite the revenue growth, Bright Health is still losing money overall
    • The company saw an operating loss of $59 million and a net loss of $43.7 million in Q2 — more than the Q1 net loss of $18.1 million
  • Bright Health stock also continues to fall in price
    • Bright Health entered the market on June 24 at $18 a share
    • As of this writing, Bright Health stock is hovering around the $9 mark
  • According to the Star Tribune, Kevin Fischbeck, a Bank of America analyst, expressed a bit of concern in a letter to investors saying, “The first quarter as a public company was not as clean as we would have liked.”

The Motley Fool has a full transcript of the earnings call, and be sure to check out other headlines on Bright Health.

Alex Skjong
Alex oversees the content produced for BETA, Twin Cities Startup Week, and tech.mn. When he’s not writing or editing, there’s a good chance he’s enjoying a refreshing brew and explaining the merits of heavy metal (of which there are many).