secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001840776-22-000145
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077622000145/0001840776-22-000145-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077622000145/hgty-20221110.htm
  HTML page:      https://secwatch.observer/filing/0001840776-22-000145

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