secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001840776-23-000143
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077623000143/0001840776-23-000143-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077623000143/hgty-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001840776-23-000143

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