secwatch.observer — SEC 8-K summary
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Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001840776-24-000250
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty Q3 revenue up 17% to $323.4M; hurricane losses hit bottom line; FY outlook trimmed
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- Total revenue $323.4M (+17% YoY); written premium $287.6M (+13% YoY).
- Net income $19.0M (flat YoY); adjusted EBITDA $24.2M (-35% YoY) due to $24.7M pre-tax hurricane losses.
- Marketplace revenue surged 66% YoY to $21.6M; membership retention 89%.
- FY2024 revenue growth revised to 18-19%; net income guidance lowered to $65-74M (prior $76-84M).
- Adjusted EBITDA guidance lowered to $110-120M (prior $130-140M) from hurricane impact.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077624000250/0001840776-24-000250-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077624000250/hgty-20241107.htm
  HTML page:      https://secwatch.observer/filing/0001840776-24-000250

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