secwatch.observer — SEC 8-K summary
======================================

Issuer:     Hagerty, Inc. (HGTY)
CIK:        0001840776
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001840776-25-000141
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hagerty Q1 revenue up 18% to $319.6M; net income up 233%; reaffirms 2025 outlook
--------------------------------------------------------------------------------

- Total revenue $319.6M (+18% YoY); net income $27.3M (+233%); adjusted EBITDA $39.6M (+45%).
- Written premium $244.3M (+12%); earned premium $169.4M (+12%); loss ratio 42.0% (incl. $10.4M wildfire losses).
- Marketplace revenue surged 176% to $29.0M, driven by inventory sales including Academy of Art University Collection.
- Policies in force retention 89.0% (improved 30 bps); insured vehicles up 8% to 2.6M.
- Reaffirmed FY2025 outlook: 12-13% revenue growth, 30-40% net income growth, 21-29% adjusted EBITDA growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840776/000184077625000141/0001840776-25-000141-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840776/000184077625000141/hgty-20250507.htm
  HTML page:      https://secwatch.observer/filing/0001840776-25-000141

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