Business
Goosehead Insurance, Inc. Announces Third Quarter 2021 Results
– Total Revenue Growth of 30% and Core Revenue Growth of 41% over the Prior Year Period –– Total Written Premium Growth of 44% over the Prior Year Period ––
About this update from Goosehead Insurance, Inc.
[{"type":"text","content":"– Total Revenue Growth of 30% and Core Revenue Growth of 41% over the Prior Year Period –– Total Written Premium Growth of 44% over the Prior Year Period –– Total Franchises and Corporate Sales Headcount Grew 55% and 35%, Respectively –– Policies in Force Growth of 44% over the Prior Year Period –– Launched Digital Agent Platform – WESTLAKE, Texas , Oct. 27, 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 third quarter ended September 30, 2021. Third Quarter 2021 Highlights Total Revenues grew organically 30% over the prior-year period to $41.7 millionCore Revenues* of $37.2 million increased 41% over the prior year periodThird quarter net income of $5.4 million; net income attributable to Goosehead Insurance, Inc. of $4.0 million or $0.21 per basic share and $0.19 per diluted shareThird quarter Adjusted EBITDA* of $6.6 million.Third quarter Adjusted EPS* of $0.26 per share.Total written premiums placed increased 44% from the prior-year period to $435 millionPolicies in force grew 44% from the prior-year period to 948,000Corporate sales headcount of 502 was up 35% year-over-yearTotal franchises increased 55% compared to the prior-year period to 1,958; operating franchises grew 38% compared to the prior-year period to 1,139 *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. “Goosehead delivered an exceptional third quarter with strong premium and Core Revenue growth, significant talent additions, a 92 net promoter score and industry leading client retention of 89% - all against a very strong year ago comparison,” stated Mark E. Jones, Chairman and CEO. “We are extremely excited to have launched our Digital Agent Platform during the third quarter and have received a tremendously favorable response from our clients, agents and carrier partners around the potential for this powerful and highly differentiated tool to drive growth and enhance the client experience. Leveraging agent-informed artific...