secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001840776-23-000113
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty Q1 revenue up 30% to $218.4M; raises FY2023 Adj. EBITDA guidance to $55-75M
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- Total revenue $218.4M (+30% YoY); written premium $182.9M (+18% YoY).
- Net loss $(15.0)M vs prior year income $15.9M; adjusted EBITDA $6.7M vs $(6.0)M.
- Raised FY2023 net income outlook to $(13)-$7M and Adj. EBITDA to $55-75M (prev. $40-60M).
- Restructuring charge $5.5M; expected annual cost savings of $20-25M ($15M in 2023).
- Marketplace revenue $5.8M from Broad Arrow; HDC paid members 768k (+6% YoY).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077623000113/0001840776-23-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077623000113/hgty-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001840776-23-000113

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