Welcome to our dedicated page for Selectquote news (Ticker: SLQT), a resource for investors and traders seeking the latest updates and insights on Selectquote stock.
Overview
SelectQuote Inc is a technology-enabled, direct-to-consumer insurance distribution platform that revolutionizes the way consumers access insurance products. With over 25 years of industry experience, the company has refined the process of buying insurance by providing unbiased price comparisons and clear, accessible information across its offerings. By leveraging advanced technology and personalized service, it caters to individuals seeking solutions in life, auto, home, and health insurance sectors, ensuring that every client receives tailored guidance in an often complex insurance market.
Business Model and Revenue Generation
The core revenue model of SelectQuote Inc is commission-based, earning fees from insurance carrier partners whenever a policy is finalized through its platform. This model allows the company to remain impartial, as it focuses on comparing rates from highly-rated insurers rather than promoting any single provider. Its business segments are structured to address diverse consumer needs across major lines including Senior, Healthcare Services, Life, and Auto & Home insurance. The company’s straightforward, transparent approach not only offers consumers comprehensive information but also streamlines the application process through its proprietary technology.
Service Offerings and Operational Excellence
SelectQuote Inc operates through three primary lines: SelectQuote Senior, SelectQuote Life, and SelectQuote Auto & Home. Each line is dedicated to serving distinct markets, ensuring that the offerings are tailored to very specific insurance needs. The Senior line, for instance, focuses on insurance products suited to the aging population, while the Life line specializes in term life insurance with unbiased rate comparisons. The Auto & Home line similarly provides curated options in property-related insurance. The company’s operational framework emphasizes a balance between technology and human expertise, where personal agents are available to answer questions, present comprehensive details, and help clients navigate the insurance shopping process.
Technological Innovation and Customer-Centric Approach
One of the unique strengths of SelectQuote Inc is its integration of advanced technology with personalized service. The company’s breakthrough technology not only streamlines the traditionally lengthy application process but also enhances transparency in the shopping experience. By automating many aspects of rate comparisons and application submissions, clients benefit from a fluid, efficient process supported by expert personal agents. This fusion of high-tech solutions with a customer-centric philosophy has positioned SelectQuote as a trusted intermediary in the insurance sector.
Market Position and Competitive Landscape
Positioned as a direct-to-consumer platform, SelectQuote Inc has carved out a niche in the competitive insurance distribution landscape by consistently delivering unbiased comparisons and comprehensive information. Unlike traditional insurance agents who may have limited options or inherent conflicts of interest, SelectQuote provides a holistic view of the market, empowering consumers with the information needed to make informed decisions. This impartial approach, coupled with tailored service and cutting-edge technology, fortifies its market significance while addressing common challenges such as information overload and lengthy application processes.
Expertise, Transparency, and Trust
Throughout its operations, SelectQuote Inc demonstrates a strong commitment to expertise, transparency, and trustworthiness. The company’s long-standing presence in the industry and its carefully curated partnerships with well-established insurers underscore its ability to navigate complex insurance markets while remaining a neutral advisor to its clients. By clearly outlining its processes and ensuring that every step of the decision-making journey is supported by accurate, detailed information, SelectQuote reinforces its position as a reliable resource for consumers seeking clarity in a multifaceted industry.
Conclusion
In summary, SelectQuote Inc leverages technology, personalized service, and a commission-based revenue model to offer unbiased, transparent comparisons across a range of insurance products. Its diversified business segments and commitment to customer service have established it as a reputable partner in the insurance domain, continuously simplifying the buying process for consumers. This comprehensive approach not only adds value to its customers but also sets a high standard for operational excellence in the competitive insurance distribution landscape.
SelectQuote (NYSE: SLQT) has successfully closed a $350 million strategic investment from Bain Capital, Morgan Stanley Private Credit, and Newlight Partners on February 28, 2025. The company, which specializes in Medicare insurance policy distribution and healthcare services, has allocated $260 million of the proceeds to reduce its outstanding term loan.
Following this transaction, SelectQuote now maintains over $100 million in available liquidity to support its insurance distribution and healthcare services operations. The deal also brings strategic leadership additions, with Chris Wolfe from Bain Capital Insurance and Srdjan Vukovic from Newlight Partners joining the Board of Directors, each contributing over 20 years of investing and healthcare sector expertise.
SelectQuote (NYSE: SLQT) has secured a $350 million strategic investment from Bain Capital, Morgan Stanley Private Credit, and Newlight Partners. This investment will help the company recapitalize its balance sheet, reduce annual cash debt service, and provide liquidity for growth initiatives. The company has also successfully renegotiated its Senior Secured Credit Facility at a lower interest rate.
As part of the transaction, Chris Wolfe from Bain Capital and Srdjan Vukovic from Newlight Partners will join SelectQuote's Board of Directors upon closing, expected on February 28, 2025. Both executives bring over 20 years of healthcare sector experience. The deal follows SelectQuote's 2024 receivables securitization, marking progress toward refinancing and deleveraging goals.
SelectQuote (NYSE: SLQT) reported strong Q2 FY2025 results with consolidated revenue of $481.1 million, up from $405.4 million in Q2 FY2024. Net income reached $53.2 million, significantly higher than $19.4 million in the previous year. Adjusted EBITDA grew to $87.5 million from $67.4 million.
The Senior segment generated revenue of $255.6 million with Adjusted EBITDA of $100.5 million, achieving a 39% margin. Healthcare Services revenue was $183.4 million with SelectRx members growing 54% year-over-year to 96,695. Life segment revenue reached $39.9 million.
The company announced a $350 million strategic investment led by Bain Capital and Morgan Stanley Private Credit. For FY2025, SelectQuote expects revenue between $1.500-1.575 billion, net income between $(24) million to $11 million, and Adjusted EBITDA of $115-140 million.
SelectQuote (NYSE: SLQT), a leading distributor of Medicare insurance policies and Healthcare Services platform owner, has announced it will release its fiscal second quarter 2025 financial results after market close on Monday, February 10, 2025.
CEO Tim Danker and CFO Ryan Clement will host a conference call at 5:00 pm ET on the same day to discuss the results. Interested parties can register for the conference call through the provided link, with registration remaining open through the live call. The company recommends registering at least 10 minutes before the call starts to ensure full participation.
The event will also be available via webcast through SelectQuote's investor relations website.
SelectQuote (NYSE: SLQT) reported Q1 FY2025 results with revenue of $292.3 million, up from $232.7 million in Q1 FY2024. The company posted a net loss of $44.5 million, compared to a $31.1 million loss in the prior year period. Segment highlights include Senior Revenue of $92.9 million, Healthcare Services Revenue of $155.7 million with 86,521 SelectRx members (64% growth), and Life Revenue of $39.3 million.
For FY2025, SelectQuote expects revenue between $1.425-$1.525 billion, net income/loss range of $(59) million to $3 million, and Adjusted EBITDA of $100-130 million.
SelectQuote, Inc. (NYSE: SLQT), a leading distributor of Medicare insurance policies and owner of a growing Healthcare Services platform, has announced the release of its fiscal first quarter 2025 financial results. The results will be made public before market open on Monday, November 4, 2024.
Following the release, CEO Tim Danker and CFO Ryan Clement will host a conference call at 8:30 am ET on the same day to discuss the results. Interested parties can register for the call using the provided link. The event will also be webcasted live via the company's investor relations website.
SelectQuote, Inc. (NYSE: SLQT) has completed a $100 million securitization transaction on October 15, 2024. This transaction provides advanced financing against expected collections for previously sold policies. The company's receivables totaled approximately $1 billion as of June 30, 2024, with only a portion securitized in this deal.
The proceeds will be used to pay down a portion of outstanding term debt. The new securitized debt offers a lower cost of capital than the current term debt. The transaction also includes a maturity extension for the remaining term debt from September 15, 2025 to September 30, 2027, with a potential further extension to September 30, 2028.
SelectQuote has hired an investment bank to conduct a strategic review of all available options to meet payment milestones, strengthen the balance sheet, and fund continued investment in core business lines.
SelectQuote (NYSE: SLQT) reported Q4 FY2024 results with revenue of $307.2 million, up from $221.8 million in Q4 FY2023. The company posted a net loss of $31.0 million, improved from a $47.8 million loss last year. Adjusted EBITDA was $14.4 million, compared to -$5.8 million in Q4 FY2023.
For full FY2024, revenue reached $1.3 billion, up from $1.0 billion in FY2023. Net loss narrowed to $34.1 million from $58.5 million. Adjusted EBITDA grew to $117.0 million from $74.3 million.
The company provided FY2025 guidance, projecting revenue of $1.4-$1.5 billion, net loss of $42-$6 million, and Adjusted EBITDA of $90-$120 million. SelectQuote also announced plans for a $100 million commissions receivable securitization to optimize its balance sheet.
SelectQuote, Inc. (NYSE: SLQT), a leading distributor of Medicare insurance policies and owner of an emerging Healthcare Services platform, has announced the release of its fiscal fourth quarter and full year 2024 financial results. The results will be disclosed before market open on Friday, September 13, 2024. Following the release, CEO Tim Danker and CFO Ryan Clement will host a conference call at 8:30 am ET on the same day to discuss the results.
Interested parties can register for the conference call using the provided link. The event will also be webcasted live via SelectQuote's investor relations website. This announcement provides investors and analysts with an opportunity to gain insights into the company's financial performance and future outlook.
SelectQuote (NYSE: SLQT) announced that its full-service medication management pharmacy, SelectRx, will open a third fulfillment facility in Olathe, Kansas, to support its rapid growth. The new 54,000 square foot state-of-the-art facility is expected to open in the first half of 2025, significantly expanding the pharmacy's capacity. SelectQuote plans to add over 50 new positions at the location, including pharmacists, pharmacy fulfillment technicians, and various support roles.
Since its launch in 2021, SelectRx has grown its membership from under 5,000 to over 75,000 members who receive regular prescription shipments in adherence-friendly packaging. In 2023, SelectRx was recognized as a Patient-Centered Pharmacy Home (PCPH) by The Compliance Team, emphasizing health maintenance, preventative screening, and medication management for chronically-ill patients.
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