Hagerty reports FY2022 revenue $787.6M (+27%); guides to $40-60M Adj. EBITDA for 2023

Hagerty, Inc.

Q4 total revenue $197.0M (+28% YoY); full year revenue $787.6M (+27%); written premium +15% to $776.7M.
Full year net income $2.4M, diluted EPS $(0.07); adjusted EBITDA $(1.9)M vs $25.4M in 2021.
2023 outlook: total revenue growth 22-26%, written premium 11-13%, adjusted EBITDA $40M-$60M.
Restructuring charges of $18.3M in Q4 from workforce reduction and lease impairments.
Marketplace revenue reached $13.7M in 2022 (Broad Arrow acquisition); State Farm partnership on track.

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 financial results for three months and year ended December 31, 2022.

Period: three months and year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 14, 2023, Hagerty, Inc. (the "Company") announced its financial results for the fiscal quarter and year ended December 31, 2022 by issuing a letter to its stockholders and a press release.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hagerty, Inc. reported 2023 results: revenue 22-26% Total Revenue Growth. Guidance initiated.

Period: 2023
Revenue: 22-26% Total Revenue Growth
Guidance: initiated
Result: guidance update

Exact text from the filing

Hagerty Reports Full Year 2022 Results Provides 2023 Outlook for 22-26% Total Revenue Growth

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Hagerty, Inc. filing history →

Source: SEC EDGAR

accession 0001840776-23-000016

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