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Mar 31, 2021
Goosehead Insurance Q1 2021 Earnings Report
Growth accelerated with revenue growth of 53% to $31.2 million.
Key Takeaways
Goosehead Insurance reported strong first quarter results with a 53% increase in total revenues to $31.2 million and a 49% increase in total written premiums to $319 million. The company is raising its full-year 2021 outlook for total written premiums and revenue.
Total Revenues grew organically 53% to $31.2 million.
Core Revenues of $26.7 million increased 47%.
Total written premiums placed increased 49% to $319 million.
Corporate sales headcount of 363 was up 51% year-over-year and total franchises increased 61%.
Goosehead Insurance
Goosehead Insurance
Forward Guidance
The Company is raising its full-year 2021 outlook with respect to total written premiums and revenue.
Positive Outlook
- Total written premiums placed for 2021 are expected to be between $1.50 billion and $1.56 billion, representing organic growth of 40% on the low end of the range to 45% on the high end of the range.
- Prior guidance issued was for organic premium growth between 38% and 44%.
- Total revenues for 2021 are expected to be between $146 million and $156 million, representing organic growth of 25% on the low end of the range to 33% on the high end of the range.
- This assumes continued strong growth in Core Revenue and a return in 2021 to a more normalized level of Ancillary Revenue following a record year in 2020.
- Prior guidance issued was for organic revenue growth between 23% and 32%.