Business
Goosehead Insurance, Inc. Announces Fourth Quarter and Full Year 2021 Results
– Total Revenue Growth of 16% in the Fourth Quarter and 29% in the Full Year 2021 – – Core Revenue Growth of 35% in the Fourth Quarter and 40% in the Full
About this update from Goosehead Insurance, Inc.
[{"type":"text","content":"– Total Revenue Growth of 16% in the Fourth Quarter and 29% in the Full Year 2021 – – Core Revenue Growth of 35% in the Fourth Quarter and 40% in the Full Year 2021 – – Total Written Premium Growth of 43% in the Fourth Quarter and 45% for Full Year 2021 – – Total Franchises and Corporate Sales Headcount Grew 47% and 39%, Respectively – – Policies in Force Growth of 42% over the Prior Year Period – WESTLAKE, Texas, Feb. 23, 2022 (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, 2021. Fourth Quarter and Full Year 2021 Highlights Total Revenues grew organically 16% over the prior-year period to $40.2 million in the fourth quarter of 2021; full year 2021 revenues grew 29% to $151.3 millionFourth quarter Core Revenues* of $34.8 million increased 35%; full year 2021 Core Revenues* of $133.4 million increased 40%Fourth quarter net income of $0.9 million, Adjusted EBITDA* of $5.3 million, and adjusted EPS* of $0.06 per shareTotal written premiums placed for the fourth quarter and full year 2021 increased 43% to $407.3 million and 45% to $1.56 billion, respectivelyPolicies in force grew 42% from the prior-year period to approximately 1,011,000Corporate sales headcount of 506 was up 39% year-over-yearTotal franchises increased 47% compared to the prior-year period to 2,151; operating franchises grew 34% compared to the prior-year period to 1,198 *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 outstanding year of growth in premiums, core revenue, agent count and franchise count which further validated our unique and powerful platform,” stated Mark E. Jones, Chairman and CEO. “This robust growth was achieved in a year with numerous challenges including further Covid uncertainty, significant weather events and higher auto loss trends, which contributed to historically low levels of contingent commissions after a year of historically high con...