'Last time I bought shares they went up more than 10 times, so, I'm obviously optimistic,' eHealth CEO Scott Flanders told CNBC's Jim Cramer.
CEO Scott Flanders, who recently bought tens of thousands of shares in the health insurance marketplace, told CNBC's Jim Cramer on Tuesday that he is confident about the company's future, despite the investment community's concern about churn.
While eHealth reported a 35% increase in revenue, beat analyst earnings estimates in the second quarter and raised guidance for the current year, the company posted a high churn rate for Medicare Advantage customers, to shareholders' alarm. "Churn" refers to the rate at which customers end a subscription and stop doing business with the company. Retaining clients is a critical component for companies whose revenue depends on customer subscriptions.
EHealth had a short interest of just under 10% as of Tuesday's close, down from 10.31% in mid-April but up from 8.43% in June, according to Factset. Flanders, however, believes much of the company's success was "lost in the noise around the churn dynamic."
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