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Mar 31, 2024
Goosehead Insurance Q1 2024 Earnings Report
Total revenue increased, core revenue grew, and net income improved over the prior-year period.
Key Takeaways
Goosehead Insurance reported an 11% increase in total revenue and a 13% increase in core revenue for Q1 2024. Net income improved to $1.8 million, and the company announced a $100 million share repurchase authorization.
Total revenues grew 11% over the prior-year period to $64.5 million.
Core revenues increased 13% over the prior-year period to $58.8 million.
Net income improved to $1.8 million from a net loss of $0.2 million a year ago.
Total written premiums placed increased 28% over the prior-year period to $818.8 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 revising its outlook for full year 2024 as follows:
Positive Outlook
- Total written premiums placed for 2024 are expected to be between $3.62 billion and $3.82 billion, representing growth of 22% on the low end of the range to 29% on the high end of the range.
- Total revenues for 2024 are expected to be between $290 million and $310 million, representing growth of 11% on the low end of the range to 19% on the high end of the range.
- Adjusted EBITDA Margin is expected to expand for the full year 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income