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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.
Goosehead Insurance
Goosehead Insurance
Goosehead Insurance Revenue by Segment
Revenue by Segment
Core Revenue
CapyFin.comCost Recovery Revenue
CapyFin.comAncillary Revenue
CapyFin.com 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.