Hiiquote Insurance

TAMPA, Fla., Oct. 16, 2017 (GLOBE NEWSWIRE) -- Bloom Allowance Innovations, Inc. (NASDAQ:HIIQ) (“HIIQ” or “the Company”), a arch developer, distributor, and billow based ambassador of affordable bloom plans, today appear basic after-effects for its third division of 2017. The Aggregation additionally appear that its Board of Directors has accustomed the repurchase of up to $50 actor of the Company’s Class A accepted banal through October 2019.

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Gavin Southwell, HIIQ’s Chief Executive Officer and President, said, “The new allotment repurchase affairs underscores our aplomb in our business strategy, banking performance, and the abiding affairs of our aggregation while additionally acceptance us the banking adaptability to abide to advance in our business. We accept that in appearance of our accepted and advancing banknote position, this buy-back is both an able use of our basic at this time and a account to our shareholders. The HIIQ aggregation continues to accomplish cogent advance in active our action to abutment basic customer needs.”

Record Basic Third Division 2017 Results

The Aggregation today issued assertive basic after-effects for the third division concluded September 30, 2017. HIIQ’s almanac basic unaudited after-effects from continuing operations announce that acquirement for the third division 2017 is accepted to be in the ambit of $62.3 actor to $63.3 million, an access of about 35% to 37% over the commensurable above-mentioned year period.

The Aggregation expects to address GAAP net assets in the ambit of $5.5 actor to $6.0 actor for the three months concluded September 30, 2017, and adapted net assets of $7.3 actor to $7.6 million. Additionally, the Aggregation expects to address EBITDA in the ambit of $9.4 actor to $9.9 actor and adapted EBITDA of $12.3 actor to $12.8 actor for the aforementioned period. The accepted ambit in GAAP net assets represents an access of about 8% to 18%, and the accepted ambit in EBITDA represents an access of about 27% to 34%, over the commensurable above-mentioned year period. The accepted ambit in adapted EBITDA represents an access of about 52% to 58% over the commensurable above-mentioned year period. Adapted EBITDA is affected as EBITDA, adapted for items that are not allotment of approved operating activities, including restructuring costs, tax receivable adjustments and added non-cash items such as stock-based compensation. A adaptation of net assets to EBITDA and adapted EBITDA for the three months and nine months concluded September 30, 2017 is included aural this columnist release.

The Aggregation additionally expects to address GAAP adulterated balance per allotment in the ambit of $0.26 to $0.30 and adapted balance per allotment in the ambit of $0.44 to $0.46. The accepted ambit in GAAP adulterated balance per allotment represents an access of about 4% to 20% over the commensurable above-mentioned year period. The accepted ambit in adapted balance per allotment represents an access of about 33% to 39% over the commensurable above-mentioned year period. A adaptation of net assets to adapted net assets per allotment for the three months and nine months concluded September 30, 2017, is included aural this columnist release.

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Cash and banknote equivalents totaled about $43.1 actor at September 30, 2017, an access of $30.9 actor from December 31, 2016 and an access of $15.5 actor from June 30, 2017.

The Aggregation affairs to address banking after-effects for its third division concluded September 30, 2017 on November 1, 2017. A appointment alarm is appointed for November 2, 2017 at 8:30am EDT, during which the Aggregation will altercate these after-effects and its angle for the butt of budgetary 2017.

$50 Actor Allotment Repurchase Authorization

The new allotment repurchase allotment permits the Aggregation to periodically repurchase shares for banknote for a aeon of 24 months in accessible bazaar purchases, block affairs and abreast adjourned affairs in accordance with applicative federal balance laws. The absolute timing, cardinal and bulk of shares repurchased beneath the affairs will be bent by administration at its acumen and will depend on a cardinal of factors, including the bazaar bulk of the Company’s accepted stock, accepted bazaar and bread-and-butter conditions, authoritative requirements, basic availability and acquiescence with the agreement of the Company’s acclaim facility. Repurchases beneath the affairs will be adjourned from one or a aggregate of absolute banknote balances, approaching chargeless banknote flow, and indebtedness. There is no agreement as to the cardinal of shares that will be repurchased, and the repurchase affairs may be extended, abeyant or discontinued at any time after apprehension at the Company’s discretion.

Under the banal repurchase program, the Aggregation may accept to accept a Rule 10b5-1 allotment repurchase plan beneath the Balance Exchange Act of 1934 (the “Plan”). The Plan would acquiesce the Aggregation to repurchase its shares at times back it contrarily adeptness be prevented from accomplishing so beneath cabal trading laws or because of self-imposed trading blackout periods. Because repurchases beneath the Plan are advancing to be accountable to assertive appraisement parameters, there is no agreement as to the exact cardinal of shares that will be repurchased beneath the Plan or that there will be any repurchases pursuant to the Plan. Accountable to applicative regulations, HIIQ may accept to alter or abolish the Plan at its discretion.

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Update on Florida TPA Appliance Process

On September 29, 2017, the Aggregation and the Florida Office of Allowance Regulation (“OIR”) entered into a alternate accord adjustment apropos to the Company’s Third-Party Allowance Ambassador (“TPA”) appliance in Florida. Pursuant to the accord order, on October 2, 2017, the Florida Division of Administrative Hearings accepted a motion to abolish the Company’s address battling the OIR’s above-mentioned TPA authorization abnegation and cancelling the audition on the Company’s address of the denial, and on October 4, 2017, the OIR withdrew its above-mentioned abnegation of the Company’s TPA authorization application. The alternate accord adjustment amid the Aggregation and the OIR specifies capacity apropos the advice to be included in the Company’s new TPA appliance and assertive procedural steps, such as a pre-submission affair with the OIR.

About Bloom Allowance Innovations, Inc.

HIIQ is a bazaar baton in developing avant-garde bloom allowance articles that are affordable and accommodated the needs of millions of bloom allowance plan shoppers. HIIQ develops allowance articles through partnerships with best-in-class allowance companies and markets them via its ample administration arrangement of accountant allowance agents beyond the nation. HIIQ's data-centric paperless business archetypal is facilitated by its Customer Division that provides real-time abstracts acclimated to analyze opportunities and underserved needs in the bloom allowance market. HIIQ's Customer Division includes AgileHealthInsurance.com, a website for researching, comparing and purchasing Term Bloom allowance articles and HealthPocket.com, a alone managed chargeless website that compares and ranks assorted bloom allowance affairs and uses cold abstracts to broadcast aloof bloom allowance bazaar analyses and added customer advancement research. Additional advice about HIIQ can be begin at HiiQuote.com.

Forward-Looking Statements

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This columnist absolution contains "forward-looking statements" aural the acceptation of the U.S. Private Balance Litigation Reform Act of 1995. Advanced statements are statements added than absolute fact, and may accommodate statements apropos to goals, affairs and projections apropos new markets, products, services, advance strategies, advancing trends in our business and advancing changes and developments in the United States bloom allowance arrangement and laws. Advanced statements are based on HIIQ's accepted assumptions, expectations and behavior are about identifiable by use of words "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or agnate expressions and absorb cogent risks and uncertainties that could account absolute results, developments and business decisions to alter materially from those advised by these statements. These risks and uncertainties include, amid added things, our adeptness to advance relationships and advance new relationships with bloom allowance carriers and distributors, our adeptness to absorb our members, the appeal for our products, accompaniment authoritative blank and examinations of us and our carriers and distributors, acknowledged and authoritative acquiescence by our carriers and distributors, the bulk of commissions paid to us or changes in bloom allowance plan appraisement practices, competition, changes and developments in the United States bloom allowance arrangement and laws, and HIIQ's adeptness to acclimate to them, the adeptness to advance and enhance our name recognition, difficulties arising from acquisitions or added cardinal transactions, and our adeptness to body the all-important basement and processes to advance able controls over banking reporting. These and added accident factors that could account absolute after-effects to alter materially from those bidding or adumbrated in our advanced statements are discussed in HIIQ's best contempo Annual Address on Form 10-K filed with the Balance and Exchange Commission (SEC) as able-bodied as added abstracts that may be filed by HIIQ from time to time with the Balance and Exchange Commission, which are accessible at www.sec.gov. Any advanced account fabricated by us in this columnist absolution is based alone on advice currently accessible to us and speaks alone as of the date on which it is made. You should not await on any advanced account as apery our angle in the future. We undertake no obligation to about amend any advanced statement, whether accounting or oral, that may be fabricated from time to time, whether as a aftereffect of new information, approaching developments or otherwise.

Investor ContactsMike Hershberger, Bloom Allowance Innovations, Inc. 1-877-376-5831 x282John Evans, Investor Relations, PIR Communications, 415-309-0230, [email protected]

Media ContactsKelly Sullivan or James Golden, Joele Frank, Wilkinson Brimmer Katcher, (212) 355-4449