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Jun 30, 2024
Goosehead Insurance Q2 2024 Earnings Report
Total revenue increased and core revenue grew over the prior-year period.
Key Takeaways
Goosehead Insurance reported strong second-quarter results with a 13% increase in total revenue and a 20% increase in core revenue. Total written premiums increased by 30%, and net income improved to $10.9 million. The company also repurchased 1.045 million shares during the quarter.
Total revenues grew 13% over the prior-year period to $78.1 million.
Core Revenues increased 20% over the prior-year period to $73.4 million.
Net income improved from $7.2 million a year ago to $10.9 million.
Total Written Premiums increased 30% over the prior-year period to $998.9 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 reiterating its guidance for full year 2024.
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.
- The company has an unused line of credit of $74.8 million as of June 30, 2024.
- As of June 30, 2024, $36.8 million remains available under the share repurchase authorization.
Revenue & Expenses
Visualization of income flow from segment revenue to net income