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Sep 30, 2023
Goosehead Insurance Q3 2023 Earnings Report
Reported a strong third quarter with revenue growth and improved profitability.
Key Takeaways
Goosehead Insurance reported strong Q3 2023 results, with a 23% increase in total revenue to $71.0 million, a 30% increase in total written premium to $802.9 million, and a significant increase in net income to $11.3 million compared to $3.0 million in the prior year. Adjusted EBITDA also saw substantial growth, reaching $22.4 million versus $11.0 million in the prior-year period.
Total revenues grew by 23% year-over-year to $71.0 million.
Core revenues increased by 22% year-over-year to $63.1 million.
Net income increased to $11.3 million, up from $3.0 million in the prior year.
Total written premiums placed increased by 30% year-over-year to $802.9 million.
Revenue by Segment
Forward Guidance
The company is reiterating its outlook for full year 2023.
Positive Outlook
- Total written premiums placed for 2023 are expected to be between $2.87 billion and $2.99 billion, representing 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 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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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