SECURITIES AND EXCHANGE COMMISSION FORM 10-Q | --- | --- | |---------------------------------------------------------------------------------|---------------------------------------| | | | | GOOSEHEAD INSURANCE, INC. (Exact name of registrant as specified in | its charter) | | Delaware | 82-3886022 | | incorporation or organization) (State or other jurisdiction of | (IRS Employer Identification No.) | | 1500 Solana Blvd, Building 4, Suite 4500 | | | Westlake | | | Texas | 76262 | | (Address of principal exe ...

Core Insights - Goosehead Insurance (GSHD) reported revenue of $78.09 million for the quarter ended June 2024, marking a year-over-year increase of 12.7% and an EPS of $0.42 compared to $0.41 a year ago [1] Financial Performance - The reported revenue exceeded the Zacks Consensus Estimate of $74.11 million, resulting in a surprise of +5.36% [4] - The company achieved an EPS surprise of +5.00%, with the consensus EPS estimate being $0.40 [4] Key Metrics - Total Core Revenue was $73.41 million, surpassing the average estimate of $69.48 million based on four analysts, representing a year-over-year change of +20.3% [6] - Cost Recovery Revenue from Initial Franchise Fees was $1.63 million, below the average estimate of $2.94 million, reflecting a year-over-year decline of -50.4% [6] - Total Ancillary Revenue reached $2.81 million, exceeding the average estimate of $1.49 million, but showing a year-over-year decrease of -38.3% [6] - Core Revenue from New Business Royalty Fees was $7.17 million, above the average estimate of $6.56 million, indicating a year-over-year increase of +14.4% [6] - Core Revenue from Agency Fees was $2.14 million, below the estimated $2.53 million, representing a year-over-year decline of -11.1% [6] - Ancillary Revenue from Contingent Commissions was $2.21 million, exceeding the average estimate of $1.14 million, but showing a year-over-year decrease of -44.4% [6] - Core Revenue from Renewal Commissions was $20.59 million, slightly above the average estimate of $20.03 million, reflecting a year-over-year increase of +11.1% [6] - Total Cost Recovery Revenue was $1.88 million, below the average estimate of $3.29 million, indicating a year-over-year decline of -49.4% [6] - Core Revenue from New Business Commissions was $6.68 million, slightly below the average estimate of $6.69 million, showing a year-over-year increase of +6.8% [6] - Core Revenue from Renewal Royalty Fees was $36.83 million, exceeding the average estimate of $33.37 million, representing a year-over-year increase of +33.7% [6] - Cost Recovery Revenue from Interest Income was $0.24 million, below the average estimate of $0.27 million, reflecting a year-over-year decline of -41.5% [6] Stock Performance - Goosehead shares have returned +21.9% over the past month, significantly outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

– Total Revenue Increased 13% and Core Revenue* Grew 20% over the Prior-Year Period – WESTLAKE, TEXAS – July 24, 2024 - Goosehead Insurance, Inc. ("Goosehead" or the "Company") (NASDAQ: GSHD), a rapidly growing independent personal lines insurance agency, today announced results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights GOOSEHEAD INSURANCE, INC. ANNOUNCES SECOND QUARTER 2024 RESULTS Core Revenue, Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are non-GAAP measures ...

Total Revenues grew 13% over the prior-year period to $78.1 million in the second quarter of 2024 Second quarter Core Revenues* of $73.4 million increased 20% over the prior-year period Second quarter net income of $10.9 million improved from net income of $7.2 million a year ago. EPS of $0.25 per share increased from $0.15 in the prior-year period, and adjusted EPS* of $0.43 per share increased 5% over the prior-year period Net Income Margin for the second quarter was 14% Adjusted EBITDA* of $24.7 million ...

WESTLAKE, Texas, July 17, 2024 (GLOBE NEWSWIRE) -- Goosehead Insurance, Inc. ("Goosehead" or the "Company") (NASDAQ: GSHD), announced today that it will report its second quarter 2024 results after the market close on Wednesday, July 24, 2024. The company will hold a conference call to discuss results at 4:30 PM ET on July 24th. To access the call by phone, participants should go to this link (registration link), and you will be provided with the dial in details. A live webcast of the conference call will a ...

Core Viewpoint - Investors in the Insurance - Multi line sector should consider M?nchener R?ckversicherungs-Gesellschaft (MURGY) as a better value opportunity compared to Goosehead Insurance (GSHD) [1] Valuation Metrics - MURGY has a forward P/E ratio of 10.55, while GSHD has a significantly higher forward P/E of 40.87 [5] - The PEG ratio for MURGY is 0.97, indicating a more favorable valuation compared to GSHD's PEG ratio of 1.52 [5] - MURGY's P/B ratio stands at 2.23, contrasting sharply with GSHD's P/B ratio of 81.74 [6] Zacks Rank and Earnings Outlook - MURGY currently holds a Zacks Rank of 2 (Buy), indicating a positive earnings estimate revision trend, while GSHD has a Zacks Rank of 4 (Sell) [3] - The stronger estimate revision activity for MURGY suggests an improving earnings outlook compared to GSHD [7] Value Grades - Based on various valuation metrics, MURGY has a Value grade of B, whereas GSHD has a Value grade of F [6]

Financial Data and Key Metrics Changes - Total revenues for Q1 2024 grew to $64.5 million, representing an 11% increase year-over-year, while core revenues reached $58.8 million, reflecting a 13% growth [77][48] - Adjusted EBITDA increased to $11.7 million compared to $10.2 million in the prior year, with an adjusted EBITDA margin holding steady at 18% [53] - Total written premiums grew by 28% year-over-year to $819 million, with franchise premium growth of 32% to $650 million and corporate premium growth of 15% to $169 million [48][83] Business Line Data and Key Metrics Changes - Franchise productivity saw an 86% increase year-over-year, with same-store sales growth of 19% in Q1 following 23% growth in Q4 [6][36] - The franchise network accounted for 87% of total agent count and 80% of new business production, with a 42% increase in franchise productivity in Q1 2024 [36][50] - The number of franchise producers increased to 1,963, up from 1,957 at year-end, marking the first sequential growth in six quarters [23][45] Market Data and Key Metrics Changes - The company is experiencing challenges in the insurance market, particularly in Texas, where homeowners insurance rates increased over 20% in 2023, leading to unprecedented shopping activity [21][22] - Same-store sales in California saw a significant increase of 107% in March, indicating potential market recovery [14] - The company expects client retention to return to historical levels of 89% as the market stabilizes [49][68] Company Strategy and Development Direction - The company is focused on enhancing the quality of its producers and increasing franchise productivity, which is seen as a long-term growth lever [12][68] - A substantial stock buyback plan has been authorized to take advantage of market dislocations, reflecting confidence in the company's long-term value [33][58] - The company aims to become the largest distributor of personal lines insurance in the U.S. during the founder's lifetime, emphasizing structural improvements and long-term growth strategies [84][86] Management's Comments on Operating Environment and Future Outlook - Management acknowledges facing temporary headwinds in the current hard insurance market but remains optimistic about long-term growth as market conditions normalize [13][31] - The company is committed to cost management and strategic investments to mitigate short-term impacts on revenue growth [32][92] - Management expects a re-acceleration in policy-enforced growth rates beginning in Q3 2024 as market conditions improve [78][81] Other Important Information - The company has generated operating cash flow of $11.9 million in Q1, compared to a cash use of operations of $639,000 in the prior year [82] - The board has approved a $100 million share repurchase authorization, reflecting strong balance sheet flexibility [58] - The first quarter is typically the seasonally weakest for earnings and cash generation, leading to a revision in full-year guidance [55] Q&A Session Summary Question: Where does the company see itself in the current product environment? - Management believes the auto insurance market is improving, while the home insurance market is still in a wait-and-see phase, particularly in Texas [88][89] Question: What is the impact of commission rate cuts on revenue? - The decline in core revenues is partly due to commission rate cuts from a couple of distressed carriers, but this is not expected to be a broad-scale issue [94][98] Question: How does the company view its guidance for 2025? - Management remains optimistic about new business generation and expects to onboard a significant number of new corporate agents, which will drive productivity [91][114] Question: What are the expectations for client retention moving forward? - Management anticipates that as the market stabilizes, client retention will improve back to historical averages [68][49] Question: How does the company plan to manage expenses amid revenue pressures? - The company has rationalized its cost base to avoid sacrificing bottom-line earnings while navigating short-term revenue headwinds [92][116]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ______ Commission file number: 001-38466 GOOSEHEAD INSURANCE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdict ...

For the quarter ended March 2024, Goosehead Insurance (GSHD) reported revenue of $64.46 million, up 11.2% over the same period last year. EPS came in at $0.28, compared to $0.17 in the year-ago quarter.The reported revenue represents a surprise of -2.68% over the Zacks Consensus Estimate of $66.24 million. With the consensus EPS estimate being $0.22, the EPS surprise was +27.27%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to deter ...

GOOSEHEAD INSURANCE, INC. ANNOUNCES FIRST QUARTER 2024 RESULTS – Total Revenue Increased 11% and Core Revenue Grew 13% over the Prior-Year Period – – Total Written Premium increased 28% to $819 million over the Prior-Year Period – – Net Income of $1.8 million versus Net Loss of $0.2 million a year ago – – Adjusted EBITDA* of $11.7 million versus $10.2 million in the Prior-Year Period – – Company Announces a $100 million Share Repurchase Authorization through March 2025 – WESTLAKE, TEXAS – April 24, 2024 - G ...