Goosehead Insurance, Inc. · NASDAQ:GSHD
Goosehead Insurance — Investor Presentation (April 2026)
42 slides from Goosehead Insurance's investor presentation, April 2026
Slide 1: Investor Presentation April 2026
Investor Presentation April 2026
Slide 2: Meet Goosehead
Meet Goosehead Privileged and confidential 2
Slide 3: Disclaimer
Disclaimer This presentation may contain forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. All statements other than statements of historical facts contained in this presentation, including information concerning our possible or assumed
Slide 4: Company overview
Company overview Redefining Personal Diverse Founded 2003, Led by Mark Miller, Founder/Insider Lines Distribution Product Offerings Public Since 2018 President & CEO Ownership ~33% Innovation, transparency, Home, auto, flood, Headquartered in Assumed role July 2024 Aligned with long-term client-firs
Slide 5: Why Goosehead now
Why Goosehead now Tech-enabled growth. Durable margins. Untapped opportunity. Massive, Proven Financial Momentum Underserved Market Growth Model & Strategic Alignment • $531B personal lines market • 39% 10-year written • Double-digit organic revenue premium CAGR growth with long-term margin • Highly
Slide 6: TAM: The opportunity is massive
TAM: The opportunity is massive $1.04T Total P&C Market $531B Personal Lines Market $4.5B Goosehead Privileged and confidential 6
Slide 7: The U.S. market is highly fragmented
The U.S. market is highly fragmented 450+ carriers $85 B No US carrier ~$531 B has more $51 B than 20% 160 carriers $22 B market share $24 B >$100M in premiums $30 B $46 B $39 B Privileged and confidential 7 Source: National Association of Insurance Commissioners Data
Slide 8: Overview of personal insurance market distribution channels
Overview of personal insurance market distribution channels Independent Captive Agencies Carriers Direct Agencies Owned By Carriers to Customer Offers products from multiple Businesses which sell products Businesses selling products One carrier which sells Business carriers with support of best-in-
Slide 9: Independent agent distribution continues to expand
Independent agent distribution continues to expand Homeowners Premium Mix by Distribution Auto Premium Mix by Distribution 100% 100% 6% 15% 19% 90% 90% 30% 80% 80% 70% 53% 34% 70% 60% 60% 50% 50% 50% 36% 40% 40% 30% 30% 51% 20% 41% 20% 31% 33% 10% 10% 0% 0% 2013 2024 2013 2024 Direct Captive Indepen
Slide 10: A Growth Story
A Growth Story Driving disciplined, tech-enabled growth to become the number one personal lines distributor in the U.S. TWP ($MM) Written Premium CAGR (10-year): 39% 4,500 Launch of 4,000 Enterprise Sales and Partnerships 3,500 Goosehead Goosehead reaches $2B in crosses $4B in Annual TWP1 3,000 Annu
Slide 11: Why clients choose Goosehead
Why clients choose Goosehead Providing a superior insurance experience through: Unrivaled Choice The choice model provides clients with the best experience, the right coverage and a competitive price, all in one place. Candid Advice We provide our clients with transparent industry expertise wheth
Slide 12: The Goosehead Mission: Be the largest personal lines distributor
The Goosehead Mission: Be the largest personal lines distributor in U.S. in our founder’s lifetime 2024 US P&C Direct Written Premium $110 $100 $90 $80 $70 $60 $50 $40 $30 $20 $10 0 1 Source: S&P Capital IQ Pro; Note: 1 Represents 2024 total written premium Privileged and confidential 12
Slide 13: Our go-to-market strategy delivers an attractive client base
Our go-to-market strategy delivers an attractive client base Delivering the clients By meeting clients at Powered by industry carriers want the point of need leading technology We capture homeowners by being Our proprietary tech stack allows our By leading with homeowners and there at every stage of
Slide 14: Significant runway to grow homeowners market share
Significant runway to grow homeowners market share Goosehead has 5.0% national market share Goosehead partners represent 3.0% national market share1 4.06 million 86.7 million home closing transactions mortgages serviced in 20252 in 20253 4.09 million national transactions in 2023 Goosehead Participa
Slide 15: A softer market boosts organic growth
A softer market boosts organic growth Improvements in new business conversion rates and client retention from an open and competitive product environment outweigh the short-term impact of pricing in the long-term. Average Premium Per Policy $2,600 90% Premium rates 2,500 Insurers rise with 89% becom
Slide 16: Solving pain points across the insurance value chain
Solving pain points across the insurance value chain Insurance buyers want: Goosehead brings: Insurance Buyer Best possible coverage & value Choice platform Perspective Quality carriers Knowledgeable sales & service agents Responsive claims service Proprietary technology Agents face acut
Slide 17: A scalable distribution model powering sustained growth
A scalable distribution model powering sustained growth Franchise Distribution Corporate Distribution 43 states 13 offices | 489 corporate producers 1,009 operating franchises 374 115 2,113 Corporate sales agents Enterprise sales agents franchise producers Targeting business growth High-velocity new
Slide 18: Targeted growth in the franchise network
Targeted growth in the franchise network Capturing market share through geographic expansion and increasing the number of producers per franchise. 1,009 Operating Franchise Locations 2,113 Franchise Producers 2.1 Producers Per Franchise Note: Bubbles represent the size of franchises based on number
Slide 19: Scaling franchise growth through talent, partnerships, and productivity
Scaling franchise growth through talent, partnerships, and productivity Attract Expand Convert Accelerate Drive and onboard operating franchises top corporate expansion by continuous high-performing with entrepreneurial, producers into embedding franchises productivity producers to fuel sales-minded
Slide 20: Franchise growth: industry-leading productivity
Franchise growth: industry-leading productivity New business per agent by tenure ($000s) 2.0x $84 $67 $42 < 3 Years > 3 Years Franchise Agents Industry Best Practice1 Sales Onboarding Business Mastery Advanced Skill Simplified Growth Goosehead • Weekly sales • Business plan Development • Talent sour
Slide 21: Growth across the franchise network
Growth across the franchise network Increased productivity, the pruning of underperforming franchises, and organic in-network consolidations has resulted in growth across a significant portion of our franchise base. New business by agency rank1 +27% +16% 2024 2025 +9% +5% -9% Top 50 51-200 201-400 4
Slide 22: Corporate Sales locations: Growth catalysts and franchise incubators
Corporate Sales locations: Growth catalysts and franchise incubators 16 Locations New locations opened in 2026 Locations operating as of 2025 Powered by Bing © GeoNames, Microsoft, TomTom Privileged and confidential 22
Slide 23: Attracting and developing differentiated talent on campus
Attracting and developing differentiated talent on campus 18-24 month paid apprenticeship to master insurance skills and develop referral partner network Compelling career growth from multiple Franchise Sales Corporate opportunities, including: Ownership Management Management Privileged and confiden
Slide 24: Corporate network: Incubating high-performing franchise owners
Corporate network: Incubating high-performing franchise owners New Business per Agent by Tenure ($000s) Our corporate network is a proven pipeline for developing elite franchise owners, driving <3 years 2.5x scalable, predictable growth >3 years $103 Corporate producers who launch franchises are 13x
Slide 25: Partnerships: Scaling distribution through strategic relationships
Partnerships: Scaling distribution through strategic relationships Who We Partner With Two Partnership Paths The Opportunity Who They Are Embedded Franchise Partnership (EFP): Unlocking a Larger Market • Organizations seeking to solve personal lines • Partner runs their insurance business with • Exp
Slide 26: Enterprise Sales: Scaling lead generation through partnerships
Enterprise Sales: Scaling lead generation through partnerships Strategic enterprise partnerships diversify our lead sources, drive scalable premium growth, and lay the foundation for further digital fulfillment. Enterprise sales Centralized corporate New business-focused, Dedicated support agents ar
Slide 27: Investing in service talent and technology for client experience
Investing in service talent and technology to deliver industry- leading client experience 2024 Service payroll as a % of Key service center metrics gross personal lines commissions Net Promoter Score CSAT Score Annual Calls and Cases Handled 26.0%1 77 4.2 ~10M 2 Multi- channel support Call Chat Mobi
Slide 28: Technology
Technology Privileged and confidential 28
Slide 29: Mobile App – All your policies in one place
Mobile App – All your policies in one place Your documents Guidance at Smart renewals Shop your Your coverage made mobile your fingertips make it easy options made simple Privileged and confidential 29
Slide 30: The Digital Agent unlocks opportunity across the value chain
The Digital Agent unlocks opportunity across the value chain AGENTS Productivity gains without disintermediation. CLIENTS Frictionless choice with confidence. E N T E R P R I S E PA R T N E R S Scalable embedded insurance Clients want: Digital Agent delivers: solution. • Digital buying options • End
Slide 31: The Digital Agent offering is unmatched in the market today
The Digital Agent offering is unmatched in the market today Feature Online Rating Tools ChatGPT Integration Carrier Direct Model Goosehead Digital Agent ~ Multi-carrier comparative shopping Policy and coverage education Quoting capability Licensed agents available upon request Client to carrier risk
Slide 32: Building a sustainable AI competitive advantage
Building a sustainable AI competitive advantage Informed by over 20 years of robust proprietary Proprietary Data industry and personal lines data spanning across all 50 states and 200+ carriers Proprietary Data Built in governance infrastructure to maintain Risk Management regulatory compliance acro
Slide 33: Financial Performance
Financial Performance Privileged and confidential 33
Slide 34: Total Revenue
Total Revenue Q4 '25 Q4 '24 Q4 '23 Q4 '22 Renewal Commissions 18,879 18,171 17,335 16,310 Renewal Royalty Fees 42,455 34,990 27,180 22,900 New Business Commissions 7,145 5,997 5,512 5,814 New Business Royalty Fees 7,129 6,725 5,349 4,402 Agency Fees 2,543 2,091 1,532 2,421 Total Core Revenue 78,151
Slide 35: YoY Adjusted EBITDA Margin Growth
YoY Adjusted EBITDA Margin Growth Adjusted EBITDA Margin Adjusted EBITDA Margin Excluding Contingent Commissions 40% 37% 32% 31% 27% 22% 23% 24% 23% 19% 19% 18% 4Q23 4Q24 4Q25 2023 2024 2025 4Q23 4Q24 4Q25 2023 2024 2025 Longer Term Margin Potential of 40%+ Privileged and confidential 35
Slide 36: Non-GAAP adjusted EBITDA reconciliation
Non-GAAP adjusted EBITDA reconciliation Q4 '25 Q4 '24 Q4 '23 Q4 '22 Net Income: 14,051 12,576 10,753 7,811 Interest Expense 5,973 2,061 1,617 1,414 Depreciation & Amortization 3,015 2,706 2,469 1,913 Tax Expense (Benefit) 3,684 3,236 2,924 2,492 Equity Based Compensation 6,297 7,347 6,640 5,397 Impa
Slide 37: Investments in people and technology will yield long-term growth
Investments in people and technology will yield long-term growth Making significant investments today to ensure growth and profitability is sustainable for years to come Agent Commission Other Costs Agent Head Count Agent New Business Productivity $103 489 < 3 Years Client Service Corporate Network
Slide 38: Appendix
Appendix Privileged and confidential 38
Slide 39: Why people choose a Goosehead agency
Why people choose a Goosehead agency Maximizing New Sales Back Office Scaled per Producer for Growth Fully Managed Risk Management Carrier Appointments & Policy Fulfillment Agency focuses 100% Industry Leading Fully Licensed Technology Service Team on sales Training, Marketing Finance, Accounting &
Slide 40: Franchise producer tenure drives predictable organic growth
Franchise producer tenure drives predictable organic growth Revenue Growth Predictable Future Growth by Franchise Tenure Driven by New Producer Growth 220 2,400 5% 1,100 200 6% 180 900 160 1% 1,800 12% 4% > 4 Years Royalty Revenue ($MM)3 10% 140 15% > 4 Years 4% 700 120 8% 23% 11% 1,200 3% 100 3-4 Y
Slide 41: Smarter insurance by design
Smarter insurance by design Privileged and confidential 41
Slide 42: Goosehead
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