Goosehead Insurance reports Q1 adjusted EPS 26c, consensus 22c

Reports Q1 revenue $75.58M, consensus $78.09M. “At Goosehead, our strong growth comes from delivering exceptional value to clients, agents and partners,” said Mark Miller, president and CEO. “For the first quarter we drove premium growth of 22% with total and core revenue* up 17%. Net Income increased 46% for the quarter and Adjusted EBITDA* for the quarter increased 32%. Net Income Margin was 4% and adjusted EBITDA margin* expanded 300 basis points to 21%. During the quarter we invested meaningfully in our production force, service function, technology initiatives, and AI-driven tools to enhance the personal lines experience across all our key stakeholders. We currently place roughly $4 billion in annual premium-still less than 1% of the over $500 billion U.S. personal lines market. We believe our runway is enormous and our competitive moat in the marketplace continues to expand. I could not be more excited for our company’s future as we progress towards our goal of becoming the largest distributor of personal lines in the US.”