Business
Goosehead Insurance, Inc. Announces Fourth Quarter and Full Year 2020 Results
- Fourth Quarter Revenues of $34.7 Million Increased 48% - - Full Year 2020 Revenues of $117.0 Million Grew 51% - - Total Written Premiums Increased 45% for
About this update from Goosehead Insurance, Inc.
[{"type":"text","content":"- Fourth Quarter Revenues of $34.7 Million Increased 48% - - Full Year 2020 Revenues of $117.0 Million Grew 51% - - Total Written Premiums Increased 45% for the Fourth Quarter and Full Year 2020 - - Total Franchises and Corporate Sales Headcount Grew 55% and 47%, Respectively - - Full Year 2020 Net Income Growth of 81% and Adjusted EBITDA Growth of 59% - WESTLAKE, Texas, Feb. 23, 2021 (GLOBE NEWSWIRE) -- 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 full year ended December 31, 2020. Beginning with the fourth quarter and full year 2019, the Company began reporting results under accounting standard ASC 606. See Goosehead’s Annual Report on Form 10-K for the year ended December 31, 2019 for a discussion of the changes from year ended December 31, 2018 to the year ended December 31, 2019. Fourth Quarter and Full Year 2020 Highlights Revenues grew organically 48% to $34.7 million in the fourth quarter of 2020; full year 2020 revenues of $117.0 million grew 51% compared to 2019Fourth quarter Core Revenues* of $25.7 million increased 46%; full year 2020 Core Revenues* of $95.1 million increased 41%Fourth quarter net income of $5.3 million; net income attributable to Goosehead Insurance, Inc. of $2.8 million or $0.15 per basic share and $0.14 per diluted shareFourth quarter and full year Adjusted EPS* of $0.19 per share and $0.68, respectivelyFull year Adjusted EBITDA* of $27.8 million increased 59%Total written premiums placed for the fourth quarter and full year 2020 increased 45% to $285 million and $1.074 billion, respectivelyPolicies in force grew 48% from the prior-year period to 713,000Corporate sales headcount of 364 was up 47% year-over-yearTotal franchises increased 55% compared to the prior year period to 1,468; total operating franchises grew 45% compared to the prior-year period to 891 *Core Revenue, Adjusted EPS, and Adjusted EBITDA are non-GAAP measures. Reconciliations of Core Revenue to total revenues, Adjusted EBITDA to net income and Adjusted EPS to basic earnings per share, the most directly comparable financial measures presented in accordance with GAAP, are set forth in the reconciliation table accompanying this release. “We achieved another exceptional year of profitable org...