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Sep 30, 2020
Goosehead Insurance Q3 2020 Earnings Report
Reported revenues of $32.0 million and net income of $6.7 million.
Key Takeaways
Goosehead Insurance reported a strong third quarter with revenues up 51% to $32.0 million and net income of $6.7 million. The company saw significant growth in total written premiums and headcount, and raised its full-year outlook for total written premium and revenue.
Revenues grew 51% to $32.0 million.
Total written premiums placed increased 49% to $301 million.
Net income was $6.7 million.
Total franchises increased 52% compared to the prior year period to 1,261.
Goosehead Insurance
Goosehead Insurance
Forward Guidance
The Company is raising its full-year 2020 outlook with respect to total written premiums and revenue.
Positive Outlook
- Total written premiums placed for 2020 are expected to be between $1.05 billion and $1.07 billion, representing organic growth of 42% on the low end of the range to 45% on the high end of the range.
- Total revenues for 2020 under ASC 606 revenue accounting are expected to be between $109 million and $112 million, representing organic growth of 41% on the low end of the range to 45% on the high end of the range.
- Company is raising its full-year 2020 outlook with respect to total written premiums.
- Company is raising its full-year 2020 outlook with respect to revenue.
- Company expects organic growth of 42% up to 45%.