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.
SelectQuote, Inc. (symbol: SLQT) is a leading Direct-to-Consumer (DTC) distribution platform that enables consumers to shop for health, life, auto, and home insurance policies online. Founded over 25 years ago, SelectQuote revolutionized the process of buying term life insurance by providing unbiased price comparisons from highly-rated term life insurance companies. Today, SelectQuote stands as America’s #1 term life sales agency, renowned for its customer-centric approach and innovative technology.
The company functions through three primary lines: SelectQuote Senior, SelectQuote Life, and SelectQuote Auto & Home. These segments are further categorized into four reportable segments: Senior, Healthcare Services, Life, and Auto & Home.
SelectQuote's business model revolves around generating revenues through commissions earned by selling insurance products on behalf of its carrier partners. The trusted companies represented by SelectQuote have been carefully chosen based on their ability to offer favorable rates, especially for individuals with certain risk factors such as smoking or existing health conditions like high cholesterol or blood pressure.
One of the standout features of SelectQuote is its dedicated personal agents who are committed to answering all customer questions, providing comprehensive information for informed decision-making, and diligently shopping for the best prices available. The company’s breakthrough technology has streamlined what is often a lengthy and involved application process, ensuring a hassle-free experience for consumers.
Recent achievements include expanding their Senior and Healthcare Services segments to better cater to an aging population and those seeking specialized healthcare plans. Current projects focus on leveraging technology to enhance customer experience, expand product offerings, and increase market penetration.
Financially, SelectQuote continues to show strong performance, driven by a combination of strategic partnerships and innovative service offerings. The company's commitment to customer satisfaction and operational efficiency positions it well for future growth.
SelectQuote (NYSE: SLQT) has partnered with Symetra Life Insurance Company and Munich Re Life US to launch SwiftTerm Select, an innovative instant decision term life insurance product. This offering allows qualified consumers aged 18-60 to secure up to $2 million in same-day coverage without a medical exam, starting Q4 2022. The product emphasizes a premium, seamless experience through advanced technology and is aimed at transforming the life insurance market.
SelectQuote (NYSE: SLQT) has partnered with Rocket Lawyer to enhance its consumer offerings. Starting September 2022, SelectQuote customers will have access to Rocket Lawyer's legal services while shopping for insurance. This collaboration aims to provide an affordable solution for legal needs, allowing members to create customizable documents and connect with attorneys. SelectQuote's VP of Business Development, Phil Williamson, emphasized the importance of understanding consumer needs to develop integrated services. The partnership seeks to improve customer confidence in managing legal affairs alongside insurance.
SelectQuote (NYSE: SLQT) reported a fourth-quarter revenue of $139.4 million, down from $185.3 million a year prior. The company experienced a net loss of $104.7 million, compared to a net income of $0.8 million in Q4 2021. Adjusted EBITDA was $(60.8) million versus $18.1 million the previous year. For fiscal year 2023, revenue guidance is projected between $850 million and $950 million, with net losses expected to range from $113 million to $89 million.
SelectQuote, Inc. (NYSE: SLQT) has appointed Alan Muney, MD, as part-time Chief Medical Officer and Simeon Schindelman as Senior Executive Healthcare Advisor. Dr. Muney brings over 35 years of experience from Cigna and aims to enhance healthcare strategy, focusing on member engagement and clinical quality. Schindelman, a healthcare veteran, will develop innovative solutions across healthcare channels. These appointments are expected to strengthen SelectQuote's healthcare services and improve operational effectiveness, helping the company grow its business in a competitive market.
SelectQuote, Inc. (NYSE: SLQT) is in advanced talks with lenders to amend its credit agreement, ensuring continued compliance with debt covenants. The company plans to release its fiscal Q4 and full-year 2022 results on August 29, 2022, before market opening. CEO Tim Danker and Interim CFO Ryan Clement will hold a conference call at 8:30 am ET the same day to discuss the results. Notably, a definitive agreement with lenders is expected by that date.
SelectQuote, Inc. (NYSE: SLQT) will release its fiscal fourth quarter and full year 2022 financial results on August 18, 2022, before market open. CEO Tim Danker and Interim CFO Ryan Clement will discuss the results during a conference call at 8:30 am ET on the same day. The call will be accessible via registration, ensuring attendees receive dial-in information. SelectQuote, founded in 1985, specializes in unbiased insurance comparisons and operates in three core segments: Senior, Life, and Auto & Home, focusing on protecting consumer assets.
SelectQuote, Inc. (NYSE: SLQT) announces the departure of CFO Raff Sadun after five years, effective at the end of the month. Ryan Clement, SVP of Financial Planning & Analysis, will serve as interim CFO during the search for a permanent replacement. Sadun played a key role during the company’s IPO in 2020 and contributed significantly to its finance function. CEO Tim Danker expressed gratitude for Sadun's contributions to the company's growth. SelectQuote specializes in insurance solutions and has expanded its operations in recent years, including healthcare services.
SelectQuote, Inc. (NYSE: SLQT) reported consolidated revenue of $275.1 million for Q3 FY2022, an increase from $265.3 million in Q3 FY2021. The company experienced a net loss of $6.4 million compared to a net income of $35.2 million in the prior year. Adjusted EBITDA was $13.0 million, down from $63.6 million year-over-year. The company maintained its full-year guidance for revenue, expecting between $810 million and $850 million with a net loss range of $255 million to $236 million.
SelectQuote (NYSE: SLQT) will announce its fiscal Q3 2022 financial results on May 5, 2022, before market opening. CEO Tim Danker and CFO Raff Sadun will discuss the results in a conference call at 8:30 AM ET the same day. SelectQuote, established in 1985, offers unbiased insurance comparisons from reputable carriers, helping consumers protect their families and assets. It operates through three main divisions: Senior, Life, and Auto & Home. The company is focused on serving a rapidly aging demographic, particularly in Medicare-related services.
SelectQuote, Inc. (NYSE: SLQT) has formed a strategic partnership with a leading hearing benefits provider to launch the SelectHearing program. This initiative aims to provide affordable hearing healthcare and hearing aid options to members of Population Health. The partnership aligns with recent FDA efforts to enhance access to hearing aids, addressing untreated hearing loss which has been linked to significantly higher healthcare costs. The program is expected to improve health outcomes for consumers, particularly among older adults who often experience hearing limitations.
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