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Goosehead Insurance, Inc. (NASDAQ: GSHD) is a rapidly growing and innovative independent personal lines insurance agency. The company operates through both corporate and franchise locations across the United States, offering a wide range of insurance products including homeowner's insurance, auto insurance, and various other personal lines such as flood, wind, earthquake, excess liability, and umbrella insurance. In addition, Goosehead provides specialty insurance products like motorcycle and recreational vehicle insurance, as well as commercial lines insurance for small businesses and life insurance.
Founded on the principle of prioritizing the consumer, Goosehead's business model focuses on offering clients the power of choice by representing over 150 insurance companies. This allows clients to find the best policies at competitive rates, something that typical agencies can't match. The company prides itself on its high levels of customer retention and satisfaction, boasting a Net Promoter Score of 90 and an 88% customer retention rate.
Goosehead's recent achievements include a 36% growth in written premiums in the second quarter of 2023, with total premiums expected to be between $2.87 billion and $2.99 billion for the year. The company's success is attributed to its industry-leading technology, effective marketing tools, and a centralized back office that supports both corporate and franchise agents.
In addition to its core insurance products, Goosehead offers a Franchise Program and an Agency Launch Program, which provide aspiring entrepreneurs with the tools and training necessary to operate a successful insurance agency. The programs offer extensive training in sales, network development, and agency building.
Goosehead has also recently expanded its technology partnerships, including an embedded insurance strategy with Clearcover, which streamlines the quoting process for auto insurance. This integration highlights Goosehead's commitment to utilizing cutting-edge technology to enhance both agent and client experiences.
With a vision to become the largest distributor of personal lines insurance in the U.S., Goosehead continues to innovate and grow, providing extraordinary value to both its clients and shareholders.
Goosehead Insurance reported strong Q3 2024 results with total revenue growing 10% to $78.0 million and core revenue increasing 16% to $73.5 million. Net income reached $12.6 million, up from $11.3 million year-over-year, with EPS rising to $0.31 from $0.29. The company achieved a significant milestone with total written premiums exceeding $1.03 billion, a 28% increase. Corporate agent headcount grew 45% to 458, while policies in force increased 12% to approximately 1,636,000. The company maintained a client retention rate of 84% and raised its full-year 2024 guidance.
Goosehead Insurance, Inc. (NASDAQ: GSHD) has announced it will release its third quarter 2024 financial results after the market closes on Wednesday, October 23, 2024. The company will host a conference call to discuss the results at 4:30 PM ET on the same day. Interested parties can access the call by phone through a registration link that will provide dial-in details. Additionally, a live webcast of the conference call will be available on Goosehead's investor relations website. For those unable to attend, a webcast replay will be accessible on the company's investor relations site for one year following the call.
Goosehead Insurance (NASDAQ: GSHD) reported strong Q2 2024 results, with total revenue up 13% to $78.1 million and core revenue growing 20% to $73.4 million. The company saw a 30% increase in total written premiums to $998.9 million and an 11% rise in policies in force to approximately 1,588,000. Net income improved to $10.9 million from $7.2 million a year ago, with EPS increasing to $0.25 from $0.15. Adjusted EBITDA grew to $24.7 million, maintaining a 32% margin. Notably, Goosehead repurchased 1.045 million shares at an average price of $60.46 during the quarter.
Goosehead Insurance (NASDAQ: GSHD) has announced it will release its second quarter 2024 financial results after the market closes on Wednesday, July 24, 2024. The company will host a conference call to discuss the results at 4:30 PM ET on the same day. Investors can access the call by phone through a registration link, which will provide dial-in details. Additionally, a live webcast of the conference call will be available on Goosehead's investor relations website. For those unable to attend, a webcast replay will be accessible on the company's IR website for one year following the call.
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