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Mar 31, 2023
Goosehead Insurance Q1 2023 Earnings Report
Reported a strong start to the year with revenue growth and improved profitability.
Key Takeaways
Goosehead Insurance reported a 40% increase in total revenue to $58.0 million and a net loss of $0.2 million, an improvement from the prior year's $5.4 million loss. Core revenue grew by 42% to $52.0 million, and adjusted EBITDA increased to $10.2 million.
Total revenues grew organically 40% year-over-year to $58.0 million.
Core Revenues increased 42% year-over-year to $52.0 million.
Net loss improved to $0.2 million from a net loss of $5.4 million a year ago.
Total written premiums placed increased 41% year-over-year to $637.7 million.
Revenue by Segment
Forward Guidance
The Company is raising its outlook for full year 2023.
Positive Outlook
- Total written premiums placed for 2023 are expected to be between $2.86 billion and $2.99 billion, representing organic growth of 29% on the low end of the range to 35% on the high end of the range.
- Total revenues for 2023 are expected to be between $260 million and $267 million, representing organic growth of 24% on the low end of the range to 28% on the high end of the range.
- Adjusted EBITDA Margin is expected to expand for the full year 2023.
- Strategic moves are expected to drive strong and profitable growth through the remainder of 2023 and many years beyond.
- Ongoing improvements in operations, talent, and technology are further expanding the competitive moat in the industry.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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