Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR (Registrant's telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section ...

Financial Data and Key Metrics Changes - In fiscal 2023, the company generated revenue of just over $1 billion and adjusted EBITDA of $74 million, representing a significant outperformance compared to original expectations [53][80] - Year-over-year revenue increased by 59% for the fourth quarter and 31% for the full year, driven by growth in SelectRx and improved efficiency in the core Senior business [21][80] - Adjusted EBITDA margin for the Senior segment was 26%, with a full-year adjusted EBITDA of $155 million at a margin of 26%, significantly better than the previous year [5][47] Business Line Data and Key Metrics Changes - SelectRx membership grew to nearly 50,000, doubling over the past year, with revenue growth of 260% compared to fiscal 2022 [18][60] - The Senior business saw a 13% decline in Medicare Advantage policy production year-over-year, but this was better than the expected 35% to 45% decline due to improved agent close rates and marketing efficiency [58][82] - The Life division delivered $23 million in adjusted EBITDA at a 16% margin, contributing to the overall profitability of the company [25] Market Data and Key Metrics Changes - The company noted a 63% increase in the percentage of revenues received in year one from carriers, up from 53% the previous year, indicating a shift towards high-quality policy volume [20] - The Medicare Advantage market remains favorable, with expectations for continued growth and stability in policyholder persistency [56][74] Company Strategy and Development Direction - The company aims to leverage its unique position as a central hub in the healthcare ecosystem to create additional revenue opportunities, similar to SelectRx [6][19] - The strategic redesign focused on improving cash flow and profitability, with plans to maintain a disciplined approach to policy production while enhancing operational efficiency [53][84] - Future initiatives will focus on specialized home care, specialty pharmacy, and remote patient interaction, aiming to provide convenience and adherence for seniors [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic redesign's effectiveness, which has led to improved operational and financial results [13][51] - The company anticipates a strong 2024 season, with expectations for consolidated revenue growth of 12.5% at the midpoint and adjusted EBITDA ranging from $80 million to $105 million [62] - Management highlighted the importance of maintaining a high-quality agent force and effective lead targeting to drive future growth [70][71] Other Important Information - The company achieved a cash EBITDA of $72 million for the year, indicating strong cash flow generation despite investments in growth initiatives [46][81] - The company has been recognized with the Patient-Centered Pharmacy Home accreditation, underscoring the quality of services provided to seniors [83] Q&A Session Summary Question: Thoughts on carrier plans and expectations - Management expressed excitement about the competitive nature of carrier plans, particularly for lower-income seniors, which aligns with the company's focus [9] Question: Growth expectations and market conditions - Management noted that increased shopping behavior among consumers could provide a tailwind for growth, especially for those eligible for special needs plans [36] Question: Capital deployment and debt management - Management indicated a focus on improving capital structure and reducing overall debt costs, with regular dialogue with term lenders [71] Question: Lead generation strategies for 2024 - Management emphasized a balanced approach to lead generation, focusing on high-quality leads and maintaining marketing efficiency despite new regulations [69]

Table of Contents 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 year 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 001-39295 (Commission File Number) SelectQuote, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organiz ...

SelectQuote, Inc. (NYSE:SLQT) Q3 2023 Earnings Conference Call May 11, 2023 8:30 AM ET Company Participants Matthew Gunter - Chief Communications Officer and Investor Relations Timothy Danker - Chief Executive Officer Ryan Clement - Chief Financial Officer William Grant - Chief Operating Officer Robert Clay Grant - President Conference Call Participants Jonathan Yong - Credit Suisse Daniel Grosslight - Citigroup Inc. Ben Hendrix - RBC Capital Markets Operator Hello, everyone, and welcome to SelectQuote Thir ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 001-39295 (Commission File Number) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required t ...

Financial Data and Key Metrics Changes - The company reported consolidated revenue of $319 million for the quarter, with adjusted EBITDA of $64 million, indicating strong performance ahead of expectations [10][97] - Senior revenue grew over 50% year-over-year to $224 million, with senior adjusted EBITDA margin reaching 37% [12][14] - Operating expense per approved policy declined by 41% year-over-year, contributing significantly to EBITDA outperformance [6][78] Business Line Data and Key Metrics Changes - The healthcare services segment, particularly Select Rx, saw a member growth of about 20% over the last quarter and 411% compared to a year ago, with over 39,000 members [4][5] - The volume of approved Medicare Advantage policies declined by 18% to 219,000, which was better than the original plan of a 35% to 45% decline [15][13] - The company achieved a significant reduction in marketing costs per approved policy, down 50%, driven by improved agent close rates and optimized marketing channels [25][23] Market Data and Key Metrics Changes - The company had a cash position of $96 million as of January 31, compared to $36 million as of December 31, indicating improved liquidity [11] - The annual enrollment period (AEP) was described as the heaviest cash use season, with the company positioned well to drive growth in cash-efficient profitability [10][47] Company Strategy and Development Direction - The overarching strategy focuses on optimizing unit and enterprise-level profitability and cash efficiency over growth, with a commitment to balance growth opportunities with profitability [26][48] - The company plans to slow growth in Select Rx members to prioritize profitability and cash flow, while still recognizing the significant market opportunity [5][22] - Strategic changes have been made to improve agent efficiency and marketing effectiveness, which are expected to be repeatable in future Medicare Advantage seasons [31][87] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to drive positive cash EBITDA for fiscal 2023, with expectations for continued improvement in profitability and cash efficiency [47][56] - The company noted stability in policyholder persistency and improved approval rates, which are critical for delivering predictable profit and growth [98][52] - Management emphasized the importance of maintaining a focus on cash and profitability, rather than solely on growth metrics [40][62] Other Important Information - The company has increased its full-year adjusted EBITDA outlook to a range of $5 million to $25 million, reflecting confidence in its strategic execution [93] - The strategic redesign has led to a significant improvement in cash efficiency, with the cash breakeven period for Medicare Advantage policies now just over two years [86][87] Q&A Session Summary Question: Comments on the broader marketing and revenue to CAC - Management highlighted improvements in revenue to customer acquisition costs, emphasizing a focus on unit economics and profitability [37] Question: LTV dynamics and future expectations - Management indicated that LTVs exceeded internal expectations for Q2 and are expected to remain at or above $875 for the full year, with positive trends in retention [62][60] Question: Liquidity needs and funding strategy - Management confirmed that the company is well ahead of its cash plan and is actively engaging with lenders for a more permanent capital structure solution [68]

PART I FINANCIAL INFORMATION [ITEM 1. FINANCIAL STATEMENTS](index=3&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) This section presents unaudited condensed consolidated financial statements and detailed notes for periods ended December 31, 2022 and 2021 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) These balance sheets present the company's financial position as of December 31, 2022, compared to June 30, 2022 Condensed Consolidated Balance Sheets (in millions) | Metric | December 31, 2022 | June 30, 2022 | | :----------------------------- | :---------------- | :-------------- | | Cash and cash equivalents | $36.097 | $140.997 | | Total current assets | $404.383 | $402.773 | | Total assets | $1,297.913 | $1,290.052 | | Total current liabilities | $164.155 | $113.513 | | Total liabilities | $916.148 | $898.947 | | Total shareholders' equity | $381.765 | $391.105 | - Cash and cash equivalents decreased significantly from **$140.997 million** to **$36.097 million** between June 30, 2022, and December 31, 2022[9](index=9&type=chunk) - Total current liabilities increased from **$113.513 million** to **$164.155 million**, primarily driven by a substantial increase in contract liabilities from **$3.404 million** to **$38.752 million**[9](index=9&type=chunk) [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) These statements detail financial performance for periods ended December 31, 2022, showing revenue growth and net income improvement Condensed Consolidated Statements of Comprehensive Income (Loss) (in millions) | Metric | Three Months Ended Dec 31, 2022 | Three Months Ended Dec 31, 2021 | Six Months Ended Dec 31, 2022 | Six Months Ended Dec 31, 2021 | | :-------------------- | :------------------------------ | :------------------------------ | :---------------------------- | :---------------------------- | | Total revenue | $319.188 | $194.237 | $481.672 | $350.316 | | Income (Loss) from Operations | $53.033 | $(173.650) | $13.517 | $(229.658) | | Net Income (Loss) | $22.514 | $(137.563) | $(19.970) | $(185.795) | | Basic EPS | $0.14 | $(0.84) | $(0.12) | $(1.13) | | Diluted EPS | $0.14 | $(0.84) | $(0.12) | $(1.13) | - Total revenue increased by **64%** for the three months ended December 31, 2022, compared to the prior year, and by **38%** for the six months ended December 31, 2022[11](index=11&type=chunk) - The company reported a net income of **$22.514 million** for the three months ended December 31, 2022, a significant improvement from a net loss of **$(137.563) million** in the same period last year[11](index=11&type=chunk) [Condensed Consolidated Statements of Changes in Shareholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) These statements illustrate movements in equity components for periods ended December 31, 2022 and 2021, reflecting net income/loss and share-based compensation Condensed Consolidated Statements of Changes in Shareholders' Equity (in millions) | Metric | Three Months Ended Dec 31, 2022 | Three Months Ended Dec 31, 2021 | Six Months Ended Dec 31, 2022 | Six Months Ended Dec 31, 2021 | | :-------------------- | :------------------------------ | :------------------------------ | :---------------------------- | :---------------------------- | | Net income (loss) | $22.514 | $(137.563) | $(19.970) | $(185.795) | | Share-based compensation expense | $2.936 | $1.894 | $5.566 | $4.109 | | Total Shareholders' Equity (End of Period) | $381.765 | $489.249 | $381.765 | $489.249 | - Share-based compensation expense increased for both the three-month (**$2.936 million** vs **$1.894 million**) and six-month (**$5.566 million** vs **$4.109 million**) periods ended December 31, 2022, compared to 2021[13](index=13&type=chunk)[15](index=15&type=chunk) - Total shareholders' equity decreased from **$391.105 million** at June 30, 2022, to **$381.765 million** at December 31, 2022, primarily due to the net loss for the six-month period[15](index=15&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) These statements provide an overview of cash movements from operating, investing, and financing activities for the six months ended December 31, 2022, showing reduced cash used in operating activities Condensed Consolidated Statements of Cash Flows (in millions) | Metric | Six Months Ended Dec 31, 2022 | Six Months Ended Dec 31, 2021 | | :-------------------- | :---------------------------- | :---------------------------- | | Net cash used in operating activities | $(75.574) | $(305.741) | | Net cash used in investing activities | $(4.468) | $(31.062) | | Net cash (used in) provided by financing activities | $(24.858) | $243.706 | | Net decrease in cash and cash equivalents | $(104.900) | $(93.097) | | Cash and cash equivalents—End of period | $36.097 | $193.357 | - Net cash used in operating activities significantly decreased from **$(305.741) million** in 2021 to **$(75.574) million** in 2022, primarily due to a lower net loss and favorable changes in working capital[18](index=18&type=chunk)[242](index=242&type=chunk)[243](index=243&type=chunk) - Net cash used in investing activities decreased from **$(31.062) million** in 2021 to **$(4.468) million** in 2022, mainly due to reduced purchases of property, equipment, and software, and no business acquisitions in 2022[18](index=18&type=chunk)[245](index=245&type=chunk)[246](index=246&type=chunk) - Financing activities shifted from providing **$243.706 million** in 2021 to using **$(24.858) million** in 2022, driven by debt payments and issuance costs in 2022 compared to proceeds from term loans in 2021[18](index=18&type=chunk)[248](index=248&type=chunk)[249](index=249&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements, covering business operations, accounting policies, recent acquisitions, asset valuations, lease obligations, debt structure, legal contingencies, shareholder equity, revenue recognition, income taxes, and segment reporting [1. SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES](index=9&type=section&id=1.%20SUMMARY%20OF%20BUSINESS%20AND%20SIGNIFICANT%20ACCOUNTING%20POLICIES) This note outlines SelectQuote's business as a technology-enabled insurance and healthcare services distribution platform, detailing its four segments and covering accounting policies and a prior period correction - SelectQuote operates as a direct-to-consumer distribution platform for insurance products (Senior Health, Life, Auto & Home) and healthcare services (SelectRx, Population Health)[20](index=20&type=chunk) - The company's Senior segment's commission revenue is highest in the second and third quarters due to the Medicare annual enrollment period (AEP) and open enrollment period (OEP)[23](index=23&type=chunk) - The company early adopted ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, during the six months ended December 31, 2022[26](index=26&type=chunk) Immaterial Correction of Prior Period Financial Statements (Three Months Ended December 31, 2021) (in thousands) | Metric | As Previously Reported | Adjustment | As Corrected | | :-------------------- | :--------------------- | :--------- | :----------- | | Commission revenue | $140,701 | $(744) | $139,957 | | Net loss | $(137,008

SelectQuote, Inc. (NYSE:SLQT) Q1 2023 Results Conference Call November 3, 2022 8:00 AM ET Company Participants Matt Gunter - IR Tim Danker - CEO Ryan Clement - Interim CFO Bob Grant - President Bill Grant - COO Conference Call Participants Daniel Grosslight - Citigroup Jonathan Yong - Credit Suisse Meyer Shields - KBW Operator Welcome to SelectQuote’s First Quarter Earnings Conference Call. [Operator Instructions] It is now my pleasure to introduce Matt Gunter, SelectQuote Investor Relations. Mr. Gunter, yo ...

Table of Contents 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 year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to SelectQuote, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 94-3339273 (I.R.S. ...

4 th Quarter Fiscal 2022 Earnings Conference Call Presentation August 29, 2022 | We shop. You save. Disclaimer Forward-Looking Statements This presentation contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result," "e ...