Business
Goosehead Insurance, Inc. Announces Fourth Quarter and Full Year 2024 Results
– Total Revenue Increased 20% for the year to $314.5 million –– Core Revenue Grew 17% for the year to $273.7 million –– Total Written Premium in 2024
About this update from Goosehead Insurance, Inc.
[{"type":"text","content":"– Total Revenue Increased 20% for the year to $314.5 million –– Core Revenue Grew 17% for the year to $273.7 million –– Total Written Premium in 2024 Increased 29% to $3.8 billion –– 2024 Net Income of $49.1 million versus $23.7 million in 2023 –– Adjusted EBITDA in 2024 up 43% to $99.9 million – WESTLAKE, Texas, Feb. 24, 2025 (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 year ended December 31, 2024. Fourth Quarter 2024 Highlights Total Revenues grew 49% over the prior-year period to $93.9 million in the fourth quarter of 2024Fourth quarter Core Revenues* of $68.0 million increased 19% over the prior-year periodFourth quarter net income of $23.8 million improved from net income of $5.4 million a year ago. EPS of $0.60 per share increased 300% and adjusted EPS* of $0.79 per share increased 182%, over the prior-year periodNet income margin for the fourth quarter was 25%Adjusted EBITDA* of $37.4 million increased 164% from $14.1 million in the prior-year periodAdjusted EBITDA Margin* increased 17 percentage points over the prior-year period to 40%Total written premiums placed for the fourth quarter increased 28% over the prior-year period to $965.6 millionPolicies in force grew 13% from the prior-year period to approximately 1,674,000 *Core Revenue, Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are non-GAAP measures. Reconciliations of Core Revenue to total revenues, Adjusted EPS to basic earnings per share and Adjusted EBITDA to net income, the most directly comparable financial measures presented in accordance with GAAP, are set forth in the reconciliation table accompanying this release. “We had an outstanding 2024 in the face of significant macro headwinds. For the full year premium growth was 29%, total revenue increased 20%, core revenue was up 17%, net income grew 107% to $49.1 million and Adjusted EBITDA grew 43% to $99.9 million, with net income margin of 16% up 700 basis points and Adjusted EBITDA Margin of 32% up 500 basis points,” stated Mark K Miller, President and CEO. “I am pleased we began to demonstrate growth re-acceleration in a number of key performance indicators including policies in force were up 13%. Our producer base is healthier than e...