Hagerty Q3 revenue up 29% to $216.8M, but adjusted EBITDA loss of $10M; cuts FY guidance

Hagerty, Inc.

Q3 revenue $216.8M (+29% YoY), written premium $222.1M (+16% YoY); net income $24.3M vs $(0.5)M loss.
Adjusted EBITDA loss of $10.0M vs profit of $7.6M a year ago; FY guidance revised to $(10)M-$(5)M.
Hurricane Ian net exposure $10.0M; $6.5M increase in 2022 accident-year loss reserves for higher liability claims.
Acquired Broad Arrow Group ($5.9M revenue in Q3); launched online collector car auction platform.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hagerty, Inc. reported the fiscal quarter ended September 30, 2022 results: revenue $216.8 million.

Period: the fiscal quarter ended September 30, 2022
Revenue: $216.8 million
Result: reported results

Exact text from the filing

Third quarter 2022 Total Revenue increased 29% year-over-year to $216.8 million

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Hagerty, Inc. filing history →

Source: SEC EDGAR

accession 0001840776-22-000145

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