secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2022-08-10T23:59:59+00:00
Accession:  0001840776-22-000112
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty Q2 revenue $206M (+23%), net loss $5.5M; cuts FY22 Adj. EBITDA guidance to $15-20M
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- Total revenue $206.0M (+23% YoY); written premium $237.7M (+14% YoY).
- Net loss of $5.5M vs $12.5M income a year ago; Adjusted EBITDA fell 17% to $16.1M.
- 2022 revised outlook: Total revenue $767-792M (24-28% growth); Adj. EBITDA $15-20M (down 21-41% vs prior).
- Agreed to acquire remaining 60% of Broad Arrow Group for $64.8M in stock; expected immediately accretive.
- State Farm partnership on track for activation first half 2023; revenue per paid member up 16% to $158.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077622000112/0001840776-22-000112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077622000112/hgty-20220810.htm
  HTML page:      https://secwatch.observer/filing/0001840776-22-000112

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer