secwatch.observer — SEC 8-K summary
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Issuer:     SelectQuote, Inc. (SLQT)
CIK:        0001794783
Form:       8-K
Filed at:   2022-08-29T23:59:59+00:00
Accession:  0001794783-22-000063
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SelectQuote reports Q4 net loss of $104.7M on $139.4M revenue; cuts revolver by $35M, issues weak FY2023 guidance
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- Q4 FY2022 revenue $139.4M (down 25% YoY), net loss $104.7M vs prior year net income $0.8M, adjusted EBITDA -$60.8M.
- Includes $48.3M cohort/tail adjustment; ex-adjustment revenue $187.7M, adjusted EBITDA -$12.5M.
- FY2023 guidance: revenue $850M-$950M, net loss $89M-$113M, adjusted EBITDA -$20M to $10M.
- Entered Fourth Amendment to credit facility: revolver cut from $135M to $100M, SOFR+5% drawn revolver, term loans SOFR+6% cash+2% PIK interest, plus new liquidity covenant.
- Senior segment Medicare Advantage approved policies +39% YoY, but lifetime value per policy fell 22% to $877; per-unit economics deteriorated (Adjusted EBITDA per policy -$290 vs +$498).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1794783/000179478322000063/0001794783-22-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1794783/000179478322000063/slqt-20220826.htm
  HTML page:      https://secwatch.observer/filing/0001794783-22-000063

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