UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ 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 jurisdiction of incorporation or organizatio ...

GOOSEHEAD INSURANCE, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS – Total Revenue Increased 25% for the year to $261.3 million – – Core Revenue Grew 24% for the year to $233.0 million – – Adjusted EBITDA in 2023 up 90% to $69.8 million – WESTLAKE, TEXAS – February 21, 2024 - Goosehead Insurance, Inc. ("Goosehead" or the "Company") (NASDAQ: GSHD), a rapidly growing independent personal lines insurance agency, today announced results for the fourth quarter and year ended December 31, 2023. Fourth ...

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 Westlake (Address of principal executive offices) (Zip Code) Delaware 82-3886022 (IRS Employer Identification No.) For the quarterly period ended September 30, 2023 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 numbe ...

Goosehead Insurance, Inc (NASDAQ:GSHD) Q3 2023 Earnings Conference Call October 25, 2023 4:30 PM ET Company Participants Dan Farrell - Vice President, Capital Markets Mark Jones - Chairman & Chief Executive Officer Mark Miller - President & Chief Operating Officer Mark Jones Jr. - Chief Financial Officer Brian Pattillo - Executive Vice President Conference Call Participants Michael Zaremski - BMO Brian Meredith - UBS Securities Mark Hughes - Truist Securities Meyer Shields - Keefe, Bruyette & Woods Scott He ...

Financial Data and Key Metrics Changes - The company reported a 31% increase in total revenue for Q2 2023, reaching $69.3 million, with core revenue growing by 27% to $61 million [14][67] - Adjusted EBITDA increased by 85% year-over-year to $23.1 million, with the adjusted EBITDA margin expanding to 33% from 24% [92] - Premiums increased by 36% to $767 million, with franchise premiums up 40% to $588 million and corporate premiums up 22% to $180 million [34] Business Line Data and Key Metrics Changes - Productivity for corporate agents increased by 57% compared to Q2 2022, with new agents from college campuses showing a 70% increase in productivity over their counterparts from the previous year [6][20][131] - The restructuring of the corporate sales team has led to significant improvements in agent productivity and overall performance [20][24] Market Data and Key Metrics Changes - The company accounted for approximately 4.4% of new mortgage real estate transactions in the U.S., up from 3.7% a year ago [63] - The company has onboarded 24 new carriers to its platform this year, enhancing its product offerings amid a challenging market [44][102] Company Strategy and Development Direction - The company is focused on expanding its franchise network and improving the productivity of existing franchises by removing underperforming agents and onboarding high-quality producers [46][55] - The introduction of Quote to Issue technology is expected to enhance agent productivity and improve the purchasing experience for clients [27][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenging market conditions, emphasizing that the restructuring efforts are yielding strong top-line growth and sustainable profitability improvements [44][50] - The company anticipates a reacceleration of revenue and premium growth throughout 2024 as it continues to add high-quality producers and improve productivity [32][91] Other Important Information - The company expects total written premiums for 2023 to be between $2.89 billion and $2.98 billion, representing organic growth of 30% to 35% [38] - A one-time non-cash impairment charge of $3.6 million was recorded due to the consolidation of office space [37] Q&A Session Summary Question: Long-term growth expectations and digital agent evolution - Management indicated that while growth was slower than expected, the focus remains on maximizing productivity and profitability before adding new agents, which sets the stage for long-term growth [76] Question: Margin improvement expectations - Management noted that while margin improvements may be more modest in the second half of the year, they are committed to investing in growth initiatives [84][100] Question: Contingent commissions growth drivers - The growth in contingent commissions was primarily driven by volume-based contingencies rather than profitability-based ones, with expectations for around 40 basis points of total written premium for the year [104] Question: Impact of market conditions on growth expectations - Management remains committed to growth initiatives despite challenging market conditions, emphasizing the productivity gains achieved by agents [105] Question: Franchise onboarding and productivity - The company onboarded 72 agencies in the quarter and expects to continue recruiting throughout the summer [106]

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 June 30, 2023 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 jurisdicti ...

Financial Performance - Revenue for Q1 2023 increased by 40% to $58.0 million from $41.3 million in Q1 2022[80] - Total Written Premium growth was 41%, reaching $637.7 million in Q1 2023 compared to $450.9 million in Q1 2022[80] - Adjusted EBITDA surged 707% to $10.2 million, representing 18% of total revenues[80] - Core Revenue increased by 42% to $52.0 million in Q1 2023 from $36.5 million in Q1 2022[80] - Renewal Revenue surged by 59% to $38.6 million for the three months ended March 31, 2023, from $24.2 million for the same period in 2022, supported by an 88% client retention rate[115] - Basic earnings per share (GAAP) for Q1 2023 was $0.00, compared to a loss of $0.11 in Q1 2022; Adjusted EPS (non-GAAP) increased to $0.17 from $0.04[130] Policy and Franchise Metrics - Policies in Force rose by 23% to 1,354,000 as of March 31, 2023, compared to the previous year[80] - Total franchises decreased by 19% to 1,865, while operating franchises increased by 9% to 1,387[80] - Revenue from New Business Royalty Fees increased by $1.4 million, or 32%, to $5.7 million for the three months ended March 31, 2023, from $4.3 million for the same period in 2022, driven by a 9% increase in operating franchises to 1,387[96] - Revenue from Initial Franchise Fees rose by $0.8 million, or 33%, to $3.1 million for the three months ended March 31, 2023, attributed to higher franchise turnover during the quarter[97] Cost and Cash Flow - Net cash used for operating activities improved to $0.6 million in Q1 2023 from $5.2 million in Q1 2022, reflecting a decrease in net loss[134] - Net cash used for investing activities was $2.7 million in Q1 2023, slightly higher than $2.5 million in Q1 2022, driven by increased asset purchases[135] - Net cash used for financing activities rose to $0.9 million in Q1 2023 from $0.2 million in Q1 2022, primarily for repayment of notes payable[136] - Cash and cash equivalents as of March 31, 2023, were $24.6 million, with a net decrease in cash and cash equivalents of $4.2 million for the quarter[131][133] Obligations and Liquidity - Total contractual obligations as of March 31, 2023, amounted to $322.6 million, including $81.7 million in operating leases and $93.1 million in debt obligations[144] - The company anticipates sufficient liquidity from cash on hand, net working capital, and cash flows from operations to meet future commitments[137] - The company has a tax receivable agreement that requires payment of 85% of cash savings realized from tax benefits, with liabilities under this agreement totaling $129.2 million[144] Operational Changes - Corporate sales headcount decreased by 44% to 276 as of March 31, 2023[80] - Cost Recovery Revenue increased by $0.8 million, or 32%, to $3.5 million for the three months ended March 31, 2023, from $2.6 million for the same period in 2022, driven by an increase in franchise terminations[120] - The company recorded a rent expense of $2.0 million for Q1 2023, compared to $1.4 million for Q1 2022[144] - The company refinanced its credit facilities in July 2021, with a $100 million term loan and a $25 million revolving credit facility, of which nothing was drawn as of March 31, 2023[145]

Financial Performance - Total Written Premium grew 42% to $2.2 billion from $1.6 billion in 2021, indicating strong organic growth [30]. - The company achieved a revenue growth of 38% and Total Written Premium growth of 42% in 2022, with a 10-year Total Written Premium CAGR of 43% [55]. - Premiums in franchise sales grew by 46% during 2022, with a total of 2,125 franchises as of December 31, 2022, including 1,413 operating franchises [50]. - New Business Royalty Fees are set at 20% of commissions during the first term of the policy and 50% for renewals, creating strong revenue and margin expansion opportunities [48]. Client Retention and Satisfaction - Client retention rate reached 88% in 2022, which is nearly 2.6 times the 2021 P&C industry average [23]. - The company maintained a Net Promoter Score (NPS) of 90 in 2022, which is 2.6 times the industry average, and an 88% Client Retention rate [54]. - The company achieved a 2022 Net Promoter Score (NPS) of 90, leading to an 88% Client Retention rate and a 100% premium retention rate [68]. Sales Performance - Average commission rate on new business premium was 15% and on renewal business premium was 13% in 2022 [29]. - Corporate sales agents with more than three years of tenure averaged 4.1 times the New Business Production per Agent compared to industry best practices [41]. - Franchise sales agents with more than three years of tenure averaged 2.5 times the New Business Production per Agent compared to industry best practices [27]. - New Business Production per Agent in corporate sales was $110,000 for agents with more than one year of tenure in 2022 [39]. Growth and Expansion - The company has expanded to 1,413 operating franchise locations, reflecting rapid growth in its franchise model [28]. - The company expects to continue its expansion in 2023 within existing markets [42]. - Franchise locations increased by 18% to 1,413 in 2022 from 1,198 in 2021, while total franchises decreased by 1% to 2,125 in 2022 from 2,151 in 2021 [76]. - As of December 31, 2022, the company has signed Franchise Agreements in 47 states, covering over 99% of the total US population, with a potential franchise candidate pipeline of approximately 171,000 [65]. Operational Efficiency - Goosehead's Digital Agent allows clients to receive accurate home and auto quotes in less than two minutes [34]. - Service expenses as a percentage of gross commissions were 2.9 times lower than the industry best practice, allowing for best-in-class NPS scores and retention [63]. - The company’s service centers drive both new and renewal business, enabling agents to focus on cultivating new relationships and winning new business [63]. - The company made over 2,400 platform improvements in 2022 to enhance service and business processes for its agent network [93]. Technology and Innovation - The company invests in technology to drive efficiencies and maintain a competitive edge in the market [69]. - Goosehead offers a competitive health benefits package, including medical, dental, and vision insurance, along with a 401(k) retirement savings plan with matching contributions that vest over four years [96]. Diversity and Inclusion - More than half of Goosehead's employees are women, and over one-third identify as racially diverse, reflecting the company's commitment to diversity, equity, and inclusion [97]. - Goosehead has established a Women's Professional Development Program (WPDP) to support female employees' personal and professional growth since 2015 [99]. - The company maintains strong Equal Opportunity and Anti-Harassment policies, ensuring a respectful and inclusive workplace [98]. Corporate Governance - Goosehead's code of business conduct and ethics applies to all employees and is designed to promote honest and ethical conduct [101]. - The company emphasizes a meritocratic culture, where performance is rewarded, and employees are encouraged to create value [100]. - Goosehead's operating principles focus on integrity, exceptional service, and teamwork, which are central to its business model [100]. - The company files its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q with the SEC, ensuring transparency and compliance with federal securities laws [103].

Financial Data and Key Metrics Changes - In Q4 2022, Goosehead Insurance reported a premium growth of 44% and revenue growth of 43% compared to Q4 2021, with core revenue growth for 2022 at 41% and EBITDA growth at 76% [9][50] - Total written premium for Q4 2022 increased to $585 million, reflecting a strong performance [37] - Adjusted EBITDA for the quarter grew 123% to $11.9 million, with an EBITDA margin of 21% compared to 13% in the previous year [50] - Total revenues for 2023 are expected to be between $258 million and $267 million, representing organic growth of 23% to 28% [52] Business Line Data and Key Metrics Changes - Corporate agent productivity increased by 24% year-over-year in Q4, with January 2023 showing a 44% increase and first-year agent productivity up 77% year-over-year [26][11] - The company expects to add 150 to 200 producers to the franchise system in 2023, which could equate to approximately 250 to 350 new franchisees [14][15] - The top half of franchises accounted for around 90% of new business production in 2022, indicating a disparity in performance among franchises [28][72] Market Data and Key Metrics Changes - The company faced macro headwinds, including historically low contingent commission levels and declines in housing activity, but maintained a focus on client needs to adapt and deliver strong results [19][20] - The renewal book performed exceptionally well, with a client retention rate of 88% and premium retention of 100% [70] Company Strategy and Development Direction - Goosehead Insurance aims to become the number one distributor of personal lines P&C insurance in the U.S. and is focused on investing in and expanding its core business [21][20] - The company is rationalizing its franchise system by removing underperforming franchises and reallocating resources to high-performing ones [13][32] - Strategic partnerships with mortgage brokers and real estate organizations are being pursued to enhance distribution channels [17][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's unique business model, which provides a competitive advantage that is difficult to replicate [20] - The company anticipates material corporate producer growth beginning in Q3 2023 as new college graduates join the team [27] - Management acknowledged the challenges posed by the housing market but emphasized the strong productivity of agents and the potential for growth in various environments [85][84] Other Important Information - The company culled over 280 underperforming franchises in 2022, which had minimal impact on growth as they accounted for only 2% of new business production [32][38] - Total operating expenses for Q4 2022 were $45.5 million, up 30% from the previous year, driven by increased headcount and investments in technology and marketing [49][76] Q&A Session Summary Question: Is the variance in productivity seen only in newer recruits or also among longer-tenured agents? - Management indicated that the productivity variance is predominantly in agents with less than two years of experience, but some longer-tenured agents also face challenges [55] Question: How does the company plan to address productivity challenges among longer-tenured agents? - Management confirmed they can identify productivity issues at the agent level and are implementing training programs to support agents throughout their careers [57] Question: What is the outlook for contingent commissions in 2023? - Management remains cautious about contingent commissions despite positive trends in written premium productivity, indicating a potential for upside but not counting on it [58] Question: How does the company view the impact of housing market headwinds versus pricing tailwinds? - Management believes that the pricing tailwinds from auto and home insurance will outweigh the housing market headwinds, positioning the company well for productivity growth [85] Question: What is the expected retention ratio for franchises moving forward? - Management anticipates that the culling of underperforming agencies will be largely complete by the end of Q2 2023, which should help stabilize retention ratios [94] Question: What went wrong with the underperforming franchises, and what solutions are being implemented? - Management noted that many franchises signed during the pandemic did not commit fully, leading to a high turnover rate. They are now focusing on quality recruitment and converting successful corporate agents into franchisees [120][122]

Goosehead Insurance, Inc (NASDAQ:GSHD) Q2 2022 Earnings Conference Call July 27, 2022 4:30 PM ET Company Participants Dan Farrell – Vice President, Capital Markets Mark Jones – Chairman and Chief Executive Officer Mark Miller – President and Chief Operating Officer Mark Colby – Chief Financial Officer Conference Call Participants Ryan Tunis – Autonomous Research Matt Carletti – JMP Paul Newsome – Piper Sandler Meyer Shields – KBW Mark Hughes – Truist Pablo Singzon – J.P. Morgan Operator Thank you for standi ...