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.