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Jun 30, 2020
Goosehead Insurance Q2 2020 Earnings Report
Reported a 54% increase in revenues, a 41% growth in total written premiums, and a net income of $7.4 million.
Key Takeaways
Goosehead Insurance reported strong second-quarter results, demonstrating the resilience and growth potential of its platform. The company achieved exceptional growth, strong profitability, and continued high retention despite operating in a virtual environment. Goosehead raised its full-year outlook for total written premium and revenue and announced a special dividend of $1.15 per share.
Revenues grew 54% to $29.9 million.
Total written premiums placed increased 41% to $274 million.
Net income was $7.4 million, with adjusted EBITDA at $9.8 million and an adjusted EBITDA margin of 33%.
Total franchises increased 48% and corporate sales headcount grew 49% year-over-year.
Goosehead Insurance
Goosehead Insurance
Forward Guidance
The Company is raising its full-year 2020 outlook with respect to written premiums and revenue.
Positive Outlook
- Total written premiums placed for 2020 are expected to be between $1 billion and $1.050 billion, representing organic growth of 35% on the low end of the range to 42% on the high end of the range.
- Total revenues for 2020 under ASC 606 revenue accounting are expected to be between $104 million and $109 million, representing organic growth of 34% on the low end of the range to 41% on the high end of the range.