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Jun 30, 2025
Hagerty Q2 2025 Earnings Report
Hagerty delivered strong Q2 2025 performance, growing revenue by 18% and significantly expanding its Marketplace segment.
Key Takeaways
Hagerty posted double-digit revenue and income growth in Q2 2025, with exceptional gains in Marketplace revenue, leading to improved operating income and a raised full-year outlook.
Total revenue rose 18% year-over-year to $368.7 million
Marketplace revenue surged 327% year-over-year to $26.8 million
Net income increased 11% year-over-year to $47.2 million
Adjusted EPS reached $0.13 versus $0.12 in Q2 2024
Revenue by Segment
Forward Guidance
Hagerty raised its 2025 guidance on the back of strong H1 results and expects continued revenue and margin growth.
Positive Outlook
- Raised revenue growth forecast to 13-14% for 2025
- Net income growth outlook increased to 43-53%
- Expected Adjusted EBITDA growth of 30-38% for 2025
- Marketplace segment gaining momentum with European expansion
- Technology investment in Duck Creek expected to enhance future margins
Challenges Ahead
- Elevated technology investments of $20 million impacting 2025 expenses
- Q2 loss ratio increased slightly due to catastrophe losses
- Slight decline in new business count for insurance
- Hagerty Re combined ratio worsened slightly
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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