Hagerty Q2 revenue up 27% to $261.2M; raises FY2023 outlook on strong written premium and margin expansion

Hagerty, Inc.

Q2 revenue $261.2M (+27% YoY); adjusted EBITDA $34.4M vs $16.1M; net income $15.5M vs -$5.5M loss.
Written premium +16% to $275.9M; earned premium +35%; membership/marketplace revenue +44% to $23.6M.
Raised $105M from Markel, State Farm, Hagerty family for growth investments and technology.
FY2023 guidance raised: revenue growth 23-27% (prev 22-26%), adj EBITDA $60-80M (prev $55-75M).
State Farm Classic+ partnership launch expected fall 2023 in four states.

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 three and six months ended June 30, 2023 results: revenue $261.2 million, net income $15.5 million. Guidance raised.

Period: three and six months ended June 30, 2023
Revenue: $261.2 million
Net income: $15.5 million
Guidance: raised
Result: reported results

Exact text from the filing

Hagerty Reports Second Quarter 2023 Results Increases 2023 Outlook • Second quarter 2023 Total Revenue increased 27% to $261.2 million compared to the prior year period

View on SEC.gov

Browse all earnings releases →

Hagerty, Inc. filing history →

Source: SEC EDGAR

accession 0001840776-23-000143

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.