Hagerty Earnings Reports

Hagerty's Q4 2024 revenue grew by 19% year-over-year to $291.7 million, driven by strong growth in earned premium and membership revenue. The company achieved operating income of $6.0 million, reversing a loss from the prior year. Net income was $8.4 million, while adjusted EBITDA improved to $19.9 million. Hagerty added 133,000 new members during the quarter and maintained strong customer retention.

Hagerty's Q3 2024 letter emphasizes the company's commitment to its members, strategic partnerships, and disciplined growth. With a high Net Promoter Score and increasing customer retention, Hagerty is focused on expanding its ecosystem and solidifying its position in the collector car market.

Hagerty reported that written premiums jumped 18% during the first six months of 2024, building on previous years' growth. The company's strategy of engaging car enthusiasts through Hagerty Media and other channels contributes to high retention rates and a Net Promoter Score of 82.

Hagerty reported a 24% increase in total revenue for the first quarter, driven by growth in new policies rather than rate increases. The company's focus on car culture and community building, through events and the Hagerty Drivers Club, contributes to high customer satisfaction and retention.

Hagerty reported strong full-year results, driven by a transformation to a more efficient business model. Total revenue grew by 27% on top of the previous year's 27% growth, with written premiums up by 17%. The company is focused on improving customer experience and expanding operating margins.

Hagerty reported year-to-date 2023 results with revenue growth of 28% and significantly improved profitability. The company is focused on growing its Hagerty Drivers Club (HDC) membership and enhancing its value proposition.

Hagerty reported a 28% increase in total revenue during the first six months of 2023. The company is focused on streamlining operations to enhance profitability and is on a path to becoming leaner and stronger.

Hagerty reported on their progress with Hagerty Marketplace and Broad Arrow Group, highlighting the potential of their recurring revenue insurance model and focus on growth and profitability.

Hagerty reported weathering the macroeconomic challenges of 2022, achieving 27% revenue growth. The company is now focused on prioritizing investments and driving efficiencies to improve profitability in 2023, leveraging the strength of the Hagerty brand and expanding its ecosystem.

Hagerty's Q3 2022 highlights include the acquisition of Broad Arrow Group and a successful first live auction as Hagerty Marketplace, with $55 million in sales and 88% of lots sold. The company focuses on expanding its vehicle marketplace and managing expenses for future growth, while the insurance business continues to show double-digit written premium growth.

Hagerty's Q2 2022 update highlights a strong focus on growth, customer satisfaction, and strategic partnerships. The company's written premium growth is accelerating, and its Net Promoter Score remains high. The acquisition of the remaining stake in Broad Arrow Group is expected to boost the Marketplace strategy.

Hagerty reported a strong start to 2022, with total revenue up 30% year-over-year to $167.8 million and written premium up 16% to $154.8 million. The company reached 2.5 million total members and achieved key milestones, including expanding Hagerty Marketplace and partnering with Sony's Gran Turismo 7.