secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001840776-24-000098
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 +24% to $271.7M; swings to net income of $8.2M; reaffirms FY24 outlook
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- Q1 total revenue $271.7M (+24% YoY); written premium $218.3M (+19%); insured vehicles 2.4M (+6%).
- Net income $8.2M vs loss $15.0M YoY; Adj. EBITDA $27.3M vs $6.7M; operating margin +1,210 bps.
- Policies in force retention 88.7% (up from 87.9%); HDC paid members 831,000 (+8% YoY).
- Marketplace revenue surged 58% to $10.5M; commission and fee revenue $88.8M (+19%).
- FY2024 guidance reaffirmed: revenue +15-17%, net income +116-148%, Adj. EBITDA +41-53%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077624000098/0001840776-24-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077624000098/hgty-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001840776-24-000098

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