Hagerty(US:HGTY)2025-05-07 11:15Financial Performance Highlights - Total revenue grew by 18% to $320 million in Q1 2025[5] - Commission and Fee revenue increased by 13%[10] - Membership, Marketplace, and Other revenue saw a significant increase of 60%[10] - Earned premium in Hagerty Re grew by 12%[23] - Operating income increased by 110% to $26 million, improving the operating margin by 360 bps[10] - Net income reached $27 million, a 233% increase compared to $8 million in the prior year[10] - Adjusted EBITDA increased by 45% to $40 million, compared to $27 million in the prior year[10] Strategic Initiatives and Outlook - The company entered into a $375 million unsecured credit agreement with a March 2030 maturity[7] - The company reaffirms its 2025 outlook, projecting total revenue between $1.344 billion and $1.356 billion, representing a 12%-13% growth[32] - The company anticipates net income between $102 million and $110 million, a 30%-40% increase[32] - Adjusted EBITDA is projected to be between $150 million and $160 million, a 21%-29% increase[32]