SelectQuote, Inc. Reports Second Quarter 2024 Results

Business Wire02-07

Second Quarter of Fiscal Year 2024 – Consolidated Earnings Highlights Revenue of $405.4 million Net income of $19.4 million Adjusted EBITDA* of $67.4 million Raising Fiscal Year 2024 Guidance Ranges...

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Reports Second Quarter 2024 Results","media":"Business Wire","content":"<div>\n<p>Second Quarter of Fiscal Year 2024 – Consolidated Earnings Highlights\n\nRevenue of $405.4 million\nNet income of $19.4 million\nAdjusted EBITDA* of $67.4 million\n\nRaising Fiscal Year 2024 Guidance Ranges...</p>\n\n<a href=\"https://finance.yahoo.com/news/selectquote-inc-reports-second-quarter-123000479.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SelectQuote, Inc. Reports Second Quarter 2024 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSelectQuote, Inc. Reports Second Quarter 2024 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-07 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/selectquote-inc-reports-second-quarter-123000479.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Second Quarter of Fiscal Year 2024 – Consolidated Earnings Highlights\n\nRevenue of $405.4 million\nNet income of $19.4 million\nAdjusted EBITDA* of $67.4 million\n\nRaising Fiscal Year 2024 Guidance Ranges...</p>\n\n<a href=\"https://finance.yahoo.com/news/selectquote-inc-reports-second-quarter-123000479.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4548","symbol_name":"巴美列捷福持仓","start_time":0,"source_url":"https://finance.yahoo.com/news/selectquote-inc-reports-second-quarter-123000479.html","article_id":"2409030276","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/OBUpXbez4tjW1AWq4au1Bw--~B/aD01MTI7dz0xMDI0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/649f5c54a2a2853e3b167f0b3e98714e"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2409030276","pubTimestamp":1707309000,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Second Quarter of Fiscal Year 2024 – Consolidated Earnings Highlights. Revenue expected in a range of $1.23 billion to $1.3 billion vs prior range of $1.05 billion to $1.2 billion. Net loss expected in a range of $45 million to $22 million vs prior range of $50 million to $22 million. Adjusted EBITDA* expected in a range of $90 million to $105 million vs prior range of $80 million to $105 million. \"Additionally, Healthcare Services, and our SelectRx business specifically, drove substantial growth in excess of our original forecast. As of the end of the second quarter, SelectRx members have surpassed 62,000, which is in excess of our original expectation for the full year. More importantly, the business was again Adjusted EBITDA profitable.\". Mr. Danker continued, \"We are pleased to increase our fiscal year 2024 outlook based on the strength of both businesses year-to-date.\"","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4548":"巴美列捷福持仓","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4173":"保险经纪商","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4127":"投资银行业与经纪业","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","MA":"万事达","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","HCAR":"Healthcare Services Acquisition Corp","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","BK4227":"交易和支付处理服务","LU0061474960.USD":"天利环球焦点基金AU Acc","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4535":"淡马锡持仓","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","SLQT":"SelectQuote, Inc.","BK4559":"巴菲特持仓","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","MS":"摩根士丹利","LU0056508442.USD":"贝莱德世界科技基金A2","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4588":"碎股","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0557290698.USD":"施罗德环球可持续增长基金","BK4581":"高盛持仓","BK4504":"桥水持仓","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD"},"translate_title":"SelectQuote，Inc。报告2024年第二季度业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SLQT":1,"MS":0.9,"MA":0.9,"HCAR":0.9},"content_text":"Second Quarter of Fiscal Year 2024 – Consolidated Earnings Highlights\n\nRevenue of $405.4 million\nNet income of $19.4 million\nAdjusted EBITDA* of $67.4 million\n\nRaising Fiscal Year 2024 Guidance Ranges:\n\nRevenue expected in a range of $1.23 billion to $1.3 billion vs prior range of $1.05 billion to $1.2 billion\nNet loss expected in a range of $45 million to $22 million vs prior range of $50 million to $22 million\nAdjusted EBITDA* expected in a range of $90 million to $105 million vs prior range of $80 million to $105 million\n\nSecond Quarter of Fiscal Year 2024 – Segment Highlights\nSenior\n\nRevenue of $247.5 million\nAdjusted EBITDA* of $78.7 million\nApproved Medicare Advantage policies of 234,576\n\nHealthcare Services\n\nRevenue of $111.7 million\nAdjusted EBITDA* of $3.0 million\nOver 62,000 SelectRx members\n\nLife\n\nRevenue of $37.4 million\nAdjusted EBITDA* of $4.6 million\n\nAuto & Home\n\nRevenue of $10.5 million\nAdjusted EBITDA* of $4.7 million\n\nOVERLAND PARK, Kan., February 07, 2024--(BUSINESS WIRE)--SelectQuote, Inc. (NYSE: SLQT) reported consolidated revenue for the second quarter of fiscal year 2024 of $405.4 million, compared to consolidated revenue for the second quarter of fiscal year 2023 of $319.2 million. Consolidated net income for the second quarter of fiscal year 2024 was $19.4 million, compared to consolidated net income for the second quarter of fiscal year 2023 of $22.5 million. Finally, consolidated Adjusted EBITDA* for the second quarter of fiscal year 2024 was $67.4 million, compared to consolidated Adjusted EBITDA* for the second quarter of fiscal year 2023 of $63.6 million.\nChief Executive Officer Tim Danker stated, \"The second quarter marked SelectQuote’s eighth consecutive quarter of performance ahead of expectations, and we remain confident that our strategy to prioritize predictable and cash efficient growth will continue to generate value for both our customers and shareholders. We are also pleased with our progress on operating cash flow and now anticipate that SelectQuote will approach positive free cash flow in fiscal 2024.\"\n\"SelectQuote drove strong results throughout the annual enrollment period for Medicare Advantage where our Senior business grew revenues by double digits, and our second quarter Adjusted EBITDA margin of 32% remains attractive. These strong Senior operating results were a function of higher tenured agent productivity and solid policyholder persistency, which we expect to benefit SelectQuote in the open enrollment period as well.\"\n\"Additionally, Healthcare Services, and our SelectRx business specifically, drove substantial growth in excess of our original forecast. As of the end of the second quarter, SelectRx members have surpassed 62,000, which is in excess of our original expectation for the full year. More importantly, the business was again Adjusted EBITDA profitable.\"\nMr. Danker continued, \"We are pleased to increase our fiscal year 2024 outlook based on the strength of both businesses year-to-date.\"\nSegment Results\nWe currently report on four segments: 1) Senior, 2) Healthcare Services, 3) Life, and 4) Auto & Home. The performance measures of the segments include total revenue, Adjusted EBITDA,* and Adjusted EBITDA Margin.* Costs of revenue, cost of goods sold-pharmacy revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses that are directly attributable to a segment are reported within the applicable segment. Indirect costs of revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses are allocated to each segment based on varying metrics such as headcount. Adjusted EBITDA is calculated as total revenue for the applicable segment less direct and allocated costs of revenue, cost of goods sold, marketing and advertising, technical development, and selling, general, and administrative operating costs and expenses, excluding depreciation and amortization expense; gain or loss on disposal of property, equipment, and software; share-based compensation expense; and non-recurring expenses such as severance payments and transaction costs.\nSenior\nFinancial Results\nThe following table provides the financial results for the Senior segment for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n(in thousands)\n\n2023\n\n\n\n2022\n\n\n% Change\n\n\n2023\n\n\n\n2022\n\n\n% Change\n\n\nRevenue\n$\n247,529\n\n\n$\n223,826\n\n\n11\n%\n\n$\n337,445\n\n\n$\n301,340\n\n\n12\n%\n\n\nAdjusted EBITDA*\n\n78,713\n\n\n\n83,617\n\n\n(6\n)%\n\n\n77,376\n\n\n\n79,766\n\n\n(3\n)%\n\n\nAdjusted EBITDA Margin*\n\n32\n%\n\n\n37\n%\n\n\n\n\n23\n%\n\n\n26\n%\n\n\n\n\n\nOperating Metrics\nSubmitted Policies\nSubmitted policies are counted when an individual completes an application with our licensed agent and provides authorization to the agent to submit the application to the insurance carrier partner. The applicant may have additional actions to take before the application will be reviewed by the insurance carrier.\nThe following table shows the number of submitted policies for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n\n2023\n\n2022\n\n% Change\n\n2023\n\n2022\n\n% Change\n\n\nMedicare Advantage\n271,712\n\n251,847\n\n8\n%\n\n376,244\n\n341,875\n\n10\n%\n\n\nMedicare Supplement\n1,203\n\n1,565\n\n(23\n)%\n\n1,684\n\n2,230\n\n(24\n)%\n\n\nDental, Vision and Hearing\n19,808\n\n22,004\n\n(10\n)%\n\n32,304\n\n38,338\n\n(16\n)%\n\n\nPrescription Drug Plan\n1,720\n\n1,302\n\n32\n%\n\n2,031\n\n1,666\n\n22\n%\n\n\nOther\n1,318\n\n1,512\n\n(13\n)%\n\n2,950\n\n3,538\n\n(17\n)%\n\n\nTotal\n295,761\n\n278,230\n\n6\n%\n\n415,213\n\n387,647\n\n7\n%\n\n\n\n*See \"Non-GAAP Financial Measures\" below.\nApproved Policies\nApproved policies represents the number of submitted policies that were approved by our insurance carrier partners for the identified product during the indicated period. Not all approved policies will go in force.\nThe following table shows the number of approved policies for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n\n2023\n\n2022\n\n% Change\n\n2023\n\n2022\n\n% Change\n\n\nMedicare Advantage\n234,576\n\n218,837\n\n7\n%\n\n332,257\n\n302,010\n\n10\n%\n\n\nMedicare Supplement\n773\n\n1,127\n\n(31\n)%\n\n1,133\n\n1,627\n\n(30\n)%\n\n\nDental, Vision and Hearing\n16,903\n\n18,697\n\n(10\n)%\n\n27,432\n\n30,972\n\n(11\n)%\n\n\nPrescription Drug Plan\n1,316\n\n883\n\n49\n%\n\n1,570\n\n1,273\n\n23\n%\n\n\nOther\n993\n\n1,241\n\n(20\n)%\n\n2,045\n\n2,903\n\n(30\n)%\n\n\nTotal\n254,561\n\n240,785\n\n6\n%\n\n364,437\n\n338,785\n\n8\n%\n\n\n\nLifetime Value of Commissions per Approved Policy\nLifetime value of commissions per approved policy represents commissions estimated to be collected over the estimated life of an approved policy based on multiple factors, including but not limited to, contracted commission rates, carrier mix and expected policy persistency with applied constraints. The lifetime value of commissions per approved policy is equal to the sum of the commission revenue due upon the initial sale of a policy, and when applicable, an estimate of future renewal commissions.\nThe following table shows the lifetime value of commissions per approved policy for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n(dollars per policy):\n\n2023\n\n\n\n2022\n\n% Change\n\n\n2023\n\n\n\n2022\n\n% Change\n\n\nMedicare Advantage\n$\n934\n\n\n$\n870\n\n7\n%\n\n$\n883\n\n\n$\n845\n\n4\n%\n\n\nMedicare Supplement\n\n1,045\n\n\n\n994\n\n5\n%\n\n\n1,044\n\n\n\n1,037\n\n1\n%\n\n\nDental, Vision and Hearing\n\n69\n\n\n\n116\n\n(41\n)%\n\n\n99\n\n\n\n97\n\n2\n%\n\n\nPrescription Drug Plan\n\n230\n\n\n\n212\n\n8\n%\n\n\n237\n\n\n\n219\n\n8\n%\n\n\nOther\n\n(50\n)\n\n\n115\n\n(143\n)%\n\n\n(18\n)\n\n\n91\n\n(120\n)%\n\n\n\nHealthcare Services\nFinancial Results\nThe following table provides the financial results for the Healthcare Services segment for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n(in thousands)\n\n2023\n\n\n\n2022\n\n\n% Change\n\n\n2023\n\n\n\n2022\n\n\n% Change\n\n\nRevenue\n$\n111,710\n\n\n$\n55,480\n\n\n101\n%\n\n$\n209,078\n\n\n$\n98,546\n\n\n112\n%\n\n\nAdjusted EBITDA*\n\n2,981\n\n\n\n(9,301\n)\n\n132\n%\n\n\n5,304\n\n\n\n(21,089\n)\n\n125\n%\n\n\nAdjusted EBITDA Margin*\n\n3\n%\n\n\n(17\n)%\n\n\n\n\n3\n%\n\n\n(21\n)%\n\n\n\n\n\n*See \"Non-GAAP Financial Measures\" below.\nOperating Metrics\nTotal Members\nThe total number of SelectRx members represents the amount of customers to which an order has been shipped, as this is the primary key driver of revenue for Healthcare Services.\nThe following table shows the total number of SelectRx members for the date presented:\n\n\n\n\n\nDecember 31, 2023\n\nDecember 31, 2022\n\n\nTotal SelectRx Members\n\n62,623\n\n39,308\n\n\n\nPrescriptions Per Day\nPrescriptions per day represents the total prescriptions shipped per business day, as this is a primary key driver of revenue for Healthcare Services.\nThe following table shows the prescriptions shipped per day for the periods presented:\n\n\n\n\n\nThree Months Ended December 31,\n\nSix Months Ended December 31,\n\n\n\n\n2023\n\n2022\n\n2023\n\n2022\n\n\nPrescriptions Per Day\n\n17,010\n\n9,652\n\n16,244\n\n8,754\n\n\n\nCombined Senior and Healthcare Services - Consumer Per Unit Economics\nThe opportunity to leverage our existing database and distribution model to improve access to healthcare services for our consumers has created a need for us to review our key metrics related to our per unit economics. As we think about the revenue and expenses for Healthcare Services, we note that they are derived from the marketing acquisition costs associated with the sale of an MA or MS policy, some of which costs are allocated directly to Healthcare Services, and therefore determined that our per unit economics measure should include components from both Senior and Healthcare Services. See details of revenue and expense items included in the calculation below.\nCombined Senior and Healthcare Services consumer per unit economics represents total MA and MS commissions; other product commissions; other revenues, including revenues from Healthcare Services; and operating expenses associated with Senior and Healthcare Services, each shown per number of approved MA and MS policies over a given time period. Management assesses the business on a per-unit basis to help ensure that the revenue opportunity associated with a successful policy sale is attractive relative to the marketing acquisition cost. Because not all acquired leads result in a successful policy sale, all per-policy metrics are based on approved policies, which is the measure that triggers revenue recognition.\nThe MA and MS commission per MA/MS policy represents the LTV for policies sold in the period. Other commission per MA/MS policy represents the LTV for other products sold in the period, including DVH prescription drug plan, and other products, which management views as additional commission revenue on our agents’ core function of MA/MS policy sales. Pharmacy revenue per MA/MS policy represents revenue from SelectRx, and other revenue per MA/MS policy represents revenue from Population Health, production bonuses, marketing development funds, lead generation revenue, and adjustments from the Company’s reassessment of its cohorts’ transaction prices. Total operating expenses per MA/MS policy represents all of the operating expenses within Senior and Healthcare Services. The revenue to customer acquisition cost (\"CAC\") multiple represents total revenue as a multiple of total marketing acquisition costs, which represents the direct costs of acquiring leads. These costs are included in marketing and advertising expense within the total operating expenses per MA/MS policy.\nThe following table shows combined Senior and Healthcare Services consumer per unit economics for the periods presented. Based on the seasonality of Senior and the fluctuations between quarters, we believe that the most relevant view of per unit economics is on a rolling 12-month basis. All per MA/MS policy metrics below are based on the sum of approved MA/MS policies, as both products have similar commission profiles.\n\n\n\n\n\nTwelve Months Ended December 31,\n\n\n(dollars per approved policy):\n\n\n2023\n\n\n\n2022\n\n\n\nMedicare Advantage and Medicare Supplement approved policies\n\n\n609,939\n\n\n\n617,687\n\n\n\nMedicare Advantage and Medicare Supplement commission per MA/MS policy\n\n$\n896\n\n\n$\n880\n\n\n\nOther commission per MA/MS policy\n\n\n11\n\n\n\n19\n\n\n\nPharmacy revenue per MA/MS policy\n\n\n575\n\n\n\n225\n\n\n\nOther revenue per MA/MS policy\n\n\n140\n\n\n\n62\n\n\n\nTotal revenue per MA/MS policy\n\n\n1,622\n\n\n\n1,186\n\n\n\nTotal operating expenses per MA/MS policy\n\n\n(1,365\n)\n\n\n(1,111\n)\n\n\nAdjusted EBITDA per MA/MS policy (1)\n\n\n257\n\n\n\n75\n\n\n\nAdjusted EBITDA Margin per MA/MS policy (1)\n\n\n16\n%\n\n\n6\n%\n\n\nRevenue/CAC multiple\n\n4.2X\n\n\n3.0X\n\n\n\n\n\n\n\n\n\n \n\n\n(1) These financial measures are not calculated in accordance with GAAP. See \"Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures\" for information regarding our use of these non-GAAP financial measures and a reconciliation of such measures to their nearest comparable financial measures calculated and presented in accordance with GAAP.\n\n\n\nTotal revenue per MA/MS policy increased 37% for the twelve months ended December 31, 2023, compared to the twelve months ended December 31, 2022, primarily due to the increase in pharmacy revenue. Total operating expenses per MA/MS policy increased 23% for the twelve months ended December 31, 2023, compared to the twelve months ended December 31, 2022, driven by a 100% increase in operating expenses related to SelectRx due to the growth of the business, offset by a 3% decrease in other operating expenses driven by a decrease in marketing and advertising costs for the second half of fiscal year 2023 compared to the second half of fiscal year 2022.\nLife\nFinancial Results\nThe following table provides the financial results for the Life segment for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n(in thousands)\n\n2023\n\n\n\n2022\n\n\n% Change\n\n\n2023\n\n\n\n2022\n\n\n% Change\n\n\nRevenue\n$\n37,367\n\n\n$\n33,995\n\n\n10\n%\n\n$\n75,170\n\n\n$\n70,830\n\n\n6\n%\n\n\nAdjusted EBITDA*\n\n4,569\n\n\n\n5,843\n\n\n(22\n)%\n\n\n9,808\n\n\n\n11,068\n\n\n(11\n)%\n\n\nAdjusted EBITDA Margin*\n\n12\n%\n\n\n17\n%\n\n\n\n\n13\n%\n\n\n16\n%\n\n\n\n\n\nOperating Metrics\nLife premium represents the total premium value for all policies that were approved by the relevant insurance carrier partner and for which the policy document was sent to the policyholder and payment information was received by the relevant insurance carrier partner during the indicated period. Because our commissions are earned based on a percentage of total premium, total premium volume for a given period is the key driver of revenue for our Life segment.\n*See \"Non-GAAP Financial Measures\" below.\nThe following table shows term and final expense premiums for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n(in thousands)\n\n2023\n\n\n2022\n\n% Change\n\n\n2023\n\n\n2022\n\n% Change\n\n\nTerm Premiums\n$\n17,398\n\n$\n15,824\n\n10\n%\n\n$\n35,588\n\n$\n30,922\n\n15\n%\n\n\nFinal Expense Premiums\n\n19,388\n\n\n17,093\n\n13\n%\n\n\n39,087\n\n\n39,457\n\n(1\n)%\n\n\nTotal\n$\n36,786\n\n$\n32,917\n\n12\n%\n\n\n74,675\n\n\n70,379\n\n6\n%\n\n\n\nAuto & Home\nFinancial Results\nThe following table provides the financial results for the Auto & Home segment for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n(in thousands)\n\n2023\n\n\n\n2022\n\n\n% Change\n\n\n2023\n\n\n\n2022\n\n\n% Change\n\n\nRevenue\n$\n10,487\n\n\n$\n7,808\n\n\n34\n%\n\n$\n19,515\n\n\n$\n14,890\n\n\n31\n%\n\n\nAdjusted EBITDA*\n\n4,725\n\n\n\n2,284\n\n\n107\n%\n\n\n8,045\n\n\n\n4,725\n\n\n70\n%\n\n\nAdjusted EBITDA Margin*\n\n45\n%\n\n\n29\n%\n\n\n\n\n41\n%\n\n\n32\n%\n\n\n\n\n\nOperating Metrics\nAuto & Home premium represents the total premium value of all new policies that were approved by our insurance carrier partners during the indicated period. Because our commissions are earned based on a percentage of total premium, total premium volume for a given period is the key driver of revenue for our Auto & Home segment.\nThe following table shows premiums for the periods presented:\n\n\n\n\nThree Months Ended December 31,\n\n\n\nSix Months Ended December 31,\n\n\n\n\n(in thousands):\n\n2023\n\n\n2022\n\n% Change\n\n\n2023\n\n\n2022\n\n% Change\n\n\nPremiums\n$\n14,689\n\n$\n12,080\n\n22\n%\n\n$\n28,566\n\n$\n23,628\n\n21\n%\n\n\n\n*See \"Non-GAAP Financial Measures\" below.\nEarnings Conference Call\nSelectQuote, Inc. will host a conference call with the investment community today, Wednesday, February 7, 2024, beginning at 8:30 a.m. ET. To register for this conference call, please use this link: https://www.netroadshow.com/events/login?show=3bad4d79&confId=59966. After registering, a confirmation will be sent via email, including dial-in details and unique conference call codes for entry. Registration is open through the live call, but to ensure you are connected for the full call we suggest registering at least 10 minutes before the start of the call. The event will also be webcasted live via our investor relations website https://ir.selectquote.com/investor-home/default.aspx.\nNon-GAAP Financial Measures\nThis release includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. To supplement our financial statements presented in accordance with GAAP and to provide investors with additional information regarding our GAAP financial results, we have presented in this release Adjusted EBITDA and Adjusted EBITDA Margin, which are non-GAAP financial measures. These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similarly titled measures presented by other companies. We define Adjusted EBITDA as income (loss) before interest expense, income tax expense (benefit), depreciation and amortization, and certain add-backs for non-cash or non-recurring expenses, including restructuring and share-based compensation expenses. The most directly comparable GAAP measure is net income (loss). We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. The most directly comparable GAAP measure is net income margin. We monitor and have presented in this release Adjusted EBITDA and Adjusted EBITDA Margin because they are key measures used by our management and Board of Directors to understand and evaluate our operating performance, to establish budgets and to develop operational goals for managing our business. In particular, we believe that excluding the impact of these expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core operating performance.\nWe believe that these non-GAAP financial measures help identify underlying trends in our business that could otherwise be masked by the effect of the expenses that we exclude in the calculations of these non-GAAP financial measures. Accordingly, we believe these financial measures provide useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects. Reconciliations of the differences between the non-GAAP financial measures included herein and their most directly comparable GAAP financial measures are set forth below beginning on page 12.\nForward Looking Statements\nThis release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as \"may,\" \"should,\" \"could,\" \"predict,\" \"potential,\" \"believe,\" \"will likely result,\" \"expect,\" \"continue,\" \"will,\" \"anticipate,\" \"seek,\" \"estimate,\" \"intend,\" \"plan,\" \"projection,\" \"would\" and \"outlook,\" or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.\nThere are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: the impacts of the COVID-19 pandemic and any other public health events, our reliance on a limited number of insurance carrier partners and any potential termination of those relationships or failure to develop new relationships; existing and future laws and regulations affecting the health insurance market; changes in health insurance products offered by our insurance carrier partners and the health insurance market generally; insurance carriers offering products and services directly to consumers; changes to commissions paid by insurance carriers and underwriting practices; competition with brokers, including exclusively online brokers and carriers who opt to sell policies directly to consumers; competition from government-run health insurance exchanges; developments in the U.S. health insurance system; our dependence on revenue from carriers in our senior segment and downturns in the senior health as well as life, automotive and home insurance industries; our ability to develop new offerings and penetrate new vertical markets; risks from third-party products; failure to enroll individuals during the Medicare annual enrollment period; our ability to attract, integrate and retain qualified personnel; our dependence on lead providers and ability to compete for leads; failure to obtain and/or convert sales leads to actual sales of insurance policies; access to data from consumers and insurance carriers; accuracy of information provided from and to consumers during the insurance shopping process; cost-effective advertisement through internet search engines; ability to contact consumers and market products by telephone; global economic conditions, including inflation; disruption to operations as a result of future acquisitions; significant estimates and assumptions in the preparation of our financial statements; impairment of goodwill; potential litigation and other legal proceedings or inquiries; our existing and future indebtedness; our ability to maintain compliance with our debt covenants and meet our scheduled repayment obligations under out debt arrangement; our ability to access to additional capital on acceptable terms; failure to protect our intellectual property and our brand; fluctuations in our financial results caused by seasonality; accuracy and timeliness of commissions reports from insurance carriers; timing of insurance carriers’ approval and payment practices; factors that impact our estimate of the constrained lifetime value of commissions per policyholder; changes in accounting rules, tax legislation and other legislation; disruptions or failures of our technological infrastructure and platform; failure to maintain relationships with third-party service providers; cybersecurity breaches or other attacks involving our systems or those of our insurance carrier partners or third-party service providers; our ability to protect consumer information and other data; failure to market and sell Medicare plans effectively or in compliance with laws; and other factors related to our pharmacy business, including manufacturing or supply chain disruptions, access to and demand for prescription drugs, and regulatory changes or other industry developments that may affect our pharmacy operations. For a further discussion of these and other risk factors that could impact our future results and performance, see the section entitled \"Risk Factors\" in the most recent Annual Report on Form 10-K and subsequent periodic reports filed by us with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.\nAbout SelectQuote:\nFounded in 1985, SelectQuote (NYSE: SLQT) provides solutions that help consumers protect their most valuable assets: their families, health, and property. The company pioneered the model of providing unbiased comparisons from multiple, highly-rated insurance companies allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin SelectQuote’s success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources and routes high-quality leads.\nWith an ecosystem offering high touchpoints for consumers across insurance, medicare, pharmacy, and value-based care, the company now has four core business lines: SelectQuote Senior, SelectQuote Healthcare Services, SelectQuote Life, and SelectQuote Auto and Home. SelectQuote Senior serves the needs of a demographic that sees around 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans. SelectQuote Healthcare Services is comprised of the SelectRx Pharmacy, a Patient-Centered Pharmacy Home™ (PCPH) accredited pharmacy, and Population Health which proactively connects consumers with a wide breadth of healthcare services supporting their needs.\nSource: SelectQuote, Inc.\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIES\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS\n\n\n(Unaudited)\n\n\n(In thousands)\n\n\n\n\n\n \n\n\n\nDecember 31, 2023\n\nJune 30, 2023\n\n\nASSETS\n\n\n\n\n\nCURRENT ASSETS:\n\n\n\n\n\nCash and cash equivalents\n$\n10,849\n\n\n$\n83,156\n\n\n\nAccounts receivable, net of allowances of $4.7 million and $2.7 million, respectively\n\n142,590\n\n\n\n154,565\n\n\n\nCommissions receivable-current\n\n207,279\n\n\n\n111,148\n\n\n\nOther current assets\n\n27,100\n\n\n\n14,355\n\n\n\nTotal current assets\n\n387,818\n\n\n\n363,224\n\n\n\nCOMMISSIONS RECEIVABLE—Net\n\n747,079\n\n\n\n729,350\n\n\n\nPROPERTY AND EQUIPMENT—Net\n\n23,389\n\n\n\n27,452\n\n\n\nSOFTWARE—Net\n\n14,428\n\n\n\n14,740\n\n\n\nOPERATING LEASE RIGHT-OF-USE ASSETS\n\n22,035\n\n\n\n23,563\n\n\n\nINTANGIBLE ASSETS—Net\n\n8,684\n\n\n\n10,200\n\n\n\nGOODWILL\n\n29,136\n\n\n\n29,136\n\n\n\nOTHER ASSETS\n\n3,350\n\n\n\n21,586\n\n\n\nTOTAL ASSETS\n$\n1,235,919\n\n\n$\n1,219,251\n\n\n\n\n\n\n\n\n\nLIABILITIES AND SHAREHOLDERS’ EQUITY\n\n\n\n\n\nCURRENT LIABILITIES:\n\n\n\n\n\nAccounts payable\n$\n57,392\n\n\n$\n27,577\n\n\n\nAccrued expenses\n\n16,698\n\n\n\n16,993\n\n\n\nAccrued compensation and benefits\n\n48,680\n\n\n\n49,966\n\n\n\nOperating lease liabilities—current\n\n5,133\n\n\n\n5,175\n\n\n\nCurrent portion of long-term debt\n\n42,766\n\n\n\n33,883\n\n\n\nContract liabilities\n\n9,092\n\n\n\n1,691\n\n\n\nOther current liabilities\n\n4,211\n\n\n\n1,972\n\n\n\nTotal current liabilities\n\n183,972\n\n\n\n137,257\n\n\n\nLONG-TERM DEBT, NET—less current portion\n\n650,772\n\n\n\n664,625\n\n\n\nDEFERRED INCOME TAXES\n\n36,668\n\n\n\n39,581\n\n\n\nOPERATING LEASE LIABILITIES\n\n25,245\n\n\n\n27,892\n\n\n\nOTHER LIABILITIES\n\n2,745\n\n\n\n2,926\n\n\n\nTotal liabilities\n\n899,402\n\n\n\n872,281\n\n\n\n\n\n\n\n\n\nCOMMITMENTS AND CONTINGENCIES\n\n\n\n\n\n\n\n\n\n\n\nSHAREHOLDERS’ EQUITY:\n\n\n\n\n\nCommon stock, $0.01 par value\n\n1,690\n\n\n\n1,669\n\n\n\nAdditional paid-in capital\n\n573,883\n\n\n\n567,266\n\n\n\nAccumulated deficit\n\n(247,303\n)\n\n\n(235,644\n)\n\n\nAccumulated other comprehensive income\n\n8,247\n\n\n\n13,679\n\n\n\nTotal shareholders’ equity\n\n336,517\n\n\n\n346,970\n\n\n\nTOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY\n$\n1,235,919\n\n\n$\n1,219,251\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIES\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS\n\n\n(Unaudited)\n\n\n(In thousands)\n\n\n\n\n\n \n\n\n\nThree Months Ended December 31,\n\nSix Months Ended December 31,\n\n\n\n\n2023\n\n\n\n2022\n\n\n\n2023\n\n\n\n2022\n\n\n\nREVENUE:\n\n\n\n\n\n\n\n\n\nCommission\n$\n263,225\n\n\n$\n230,033\n\n\n$\n380,981\n\n\n\n336,368\n\n\n\nPharmacy\n\n108,795\n\n\n\n51,601\n\n\n\n203,583\n\n\n\n92,694\n\n\n\nOther\n\n33,418\n\n\n\n37,554\n\n\n\n53,603\n\n\n\n52,610\n\n\n\nTotal revenue\n\n405,438\n\n\n\n319,188\n\n\n\n638,167\n\n\n\n481,672\n\n\n\n\n\n\n\n\n\n\n\n\n\nOPERATING COSTS AND EXPENSES:\n\n\n\n\n\n\n\n\n\nCost of revenue\n\n97,424\n\n\n\n91,477\n\n...\n   \n169,935\n\n\n\n156,641\n\n\n\nCost of goods sold—pharmacy revenue\n\n94,180\n\n\n\n50,096\n\n\n\n178,188\n\n\n\n92,450\n\n\n\nMarketing and advertising\n\n117,078\n\n\n\n89,925\n\n\n\n179,400\n\n\n\n147,519\n\n\n\nSelling, general, and administrative\n\n33,412\n\n\n\n28,412\n\n\n\n62,078\n\n\n\n59,118\n\n\n\nTechnical development\n\n8,050\n\n\n\n6,245\n\n\n\n15,687\n\n\n\n12,427\n\n\n\nTotal operating costs and expenses\n\n350,144\n\n\n\n266,155\n\n\n\n605,288\n\n\n\n468,155\n\n\n\n\n\n\n\n\n\n\n\n\n\nINCOME FROM OPERATIONS\n\n55,294\n\n\n\n53,033\n\n\n\n32,879\n\n\n\n13,517\n\n\n\n\n\n\n\n\n\n\n\n\n\nINTEREST EXPENSE, NET\n\n(24,415\n)\n\n\n(21,044\n)\n\n\n(45,811\n)\n\n\n(37,780\n)\n\n\nOTHER INCOME (EXPENSE), NET\n\n—\n\n\n\n(70\n)\n\n\n(39\n)\n\n\n88\n\n\n\nINCOME (LOSS) BEFORE INCOME TAX EXPENSE (BENEFIT)\n\n30,879\n\n\n\n31,919\n\n\n\n(12,971\n)\n\n\n(24,175\n)\n\n\nINCOME TAX EXPENSE (BENEFIT)\n\n11,487\n\n\n\n9,405\n\n\n\n(1,312\n)\n\n\n(4,205\n)\n\n\n\n\n\n\n\n\n\n\n\n\nNET INCOME (LOSS)\n$\n19,392\n\n\n$\n22,514\n\n\n$\n(11,659\n)\n\n\n(19,970\n)\n\n\n\n\n\n\n\n\n\n\n\n\nNET INCOME (LOSS) PER SHARE:\n\n\n\n\n\n\n\n\n\nBasic\n$\n0.12\n\n\n$\n0.14\n\n\n$\n(0.07\n)\n\n$\n(0.12\n)\n\n\nDiluted\n$\n0.11\n\n\n$\n0.14\n\n\n$\n(0.07\n)\n\n$\n(0.12\n)\n\n\n\n\n\n\n\n\n\n\n\n\nWEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS:\n\n\n\n\n\n\n\n\n\nBasic\n\n168,349\n\n\n\n166,486\n\n\n\n167,901\n\n\n\n165,655\n\n\n\nDiluted\n\n169,737\n\n\n\n166,548\n\n\n\n167,901\n\n\n\n165,655\n\n\n\n\n\n\n\n\n\n\n\n\n\nOTHER COMPREHENSIVE INCOME (LOSS) NET OF TAX:\n\n\n\n\n\n\n\n\n\nGain (loss) on cash flow hedge\n\n(3,422\n)\n\n\n(381\n)\n\n\n(5,432\n)\n\n\n4,019\n\n\n\nOTHER COMPREHENSIVE INCOME (LOSS)\n\n(3,422\n)\n\n\n(381\n)\n\n\n(5,432\n)\n\n\n4,019\n\n\n\nCOMPREHENSIVE INCOME (LOSS)\n$\n15,970\n\n\n$\n22,133\n\n\n$\n(17,091\n)\n\n$\n(15,951\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIES\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS\n\n\n(Unaudited)\n\n\n(In thousands)\n\n\n\n \n\n\n\nSix Months Ended December 31,\n\n\n\n\n2023\n\n\n\n2022\n\n\n\nCASH FLOWS FROM OPERATING ACTIVITIES:\n\n\n\n\n\nNet loss\n$\n(11,659\n)\n\n$\n(19,970\n)\n\n\nAdjustments to reconcile net loss to net cash and cash equivalents used in operating activities:\n\n\n\n\n\nDepreciation and amortization\n\n11,887\n\n\n\n13,990\n\n\n\nLoss on disposal of property, equipment, and software\n\n9\n\n\n\n376\n\n\n\nShare-based compensation expense\n\n6,997\n\n\n\n5,566\n\n\n\nDeferred income taxes\n\n(1,182\n)\n\n\n(4,572\n)\n\n\nAmortization of debt issuance costs and debt discount\n\n3,356\n\n\n\n3,919\n\n\n\nWrite-off of debt issuance costs\n\n—\n\n\n\n710\n\n\n\nAccrued interest payable in kind\n\n9,020\n\n\n\n4,920\n\n\n\nNon-cash lease expense\n\n1,528\n\n\n\n2,082\n\n\n\nChanges in operating assets and liabilities:\n\n\n\n\n\nAccounts receivable, net\n\n11,975\n\n\n\n14,036\n\n\n\nCommissions receivable\n\n(113,860\n)\n\n\n(114,701\n)\n\n\nOther assets\n\n(2,075\n)\n\n\n1,578\n\n\n\nAccounts payable and accrued expenses\n\n29,206\n\n\n\n950\n\n\n\nOperating lease liabilities\n\n(2,689\n)\n\n\n(2,460\n)\n\n\nOther liabilities\n\n8,248\n\n\n\n18,002\n\n\n\nNet cash used in operating activities\n\n(49,239\n)\n\n\n(75,574\n)\n\n\nCASH FLOWS FROM INVESTING ACTIVITIES:\n\n\n\n\n\nPurchases of property and equipment\n\n(2,062\n)\n\n\n(598\n)\n\n\nProceeds from sales of property and equipment\n\n253\n\n\n\n—\n\n\n\nPurchases of software and capitalized software development costs\n\n(3,883\n)\n\n\n(3,870\n)\n\n\nNet cash used in investing activities\n\n(5,692\n)\n\n\n(4,468\n)\n\n\nCASH FLOWS FROM FINANCING ACTIVITIES:\n\n\n\n\n\nPayments on Term Loans\n\n(16,942\n)\n\n\n(13,375\n)\n\n\nPayments on other debt\n\n(75\n)\n\n\n(83\n)\n\n\nProceeds from common stock options exercised and employee stock purchase plan\n\n—\n\n\n\n1,078\n\n\n\nPayments of tax withholdings related to net share settlement of equity awards\n\n(359\n)\n\n\n(33\n)\n\n\nPayments of debt issuance costs\n\n—\n\n\n\n(10,110\n)\n\n\nPayment of acquisition holdback\n\n—\n\n\n\n(2,335\n)\n\n\nNet cash used in financing activities\n\n(17,376\n)\n\n\n(24,858\n)\n\n\nNET DECREASE IN CASH AND CASH EQUIVALENTS\n\n(72,307\n)\n\n\n(104,900\n)\n\n\nCASH AND CASH EQUIVALENTS—Beginning of period\n\n83,156\n\n\n\n140,997\n\n\n\nCASH AND CASH EQUIVALENTS—End of period\n$\n10,849\n\n\n$\n36,097\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIES\n\n\nNet Income (Loss) to Adjusted EBITDA Reconciliation\n\n\n(Unaudited)\n\n\n\n \n\n\n\nThree Months Ended December 31, 2023\n\n\n(in thousands)\nSenior\n\nHealthcare Services\n\nLife\n\nAuto & Home\n\nCorp & Elims\n\nConsolidated\n\n\nRevenue\n$\n247,529\n\n\n$\n111,710\n\n\n$\n37,367\n\n\n$\n10,487\n\n\n$\n(1,655\n)\n\n$\n405,438\n\n\n\nOperating expenses\n\n(168,816\n)\n\n\n(108,729\n)\n\n\n(32,798\n)\n\n\n(5,762\n)\n\n\n(21,919\n)\n\n\n(338,024\n)\n\n\nOther income (expense), net\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\nAdjusted EBITDA\n$\n78,713\n\n\n$\n2,981\n\n\n$\n4,569\n\n\n$\n4,725\n\n\n$\n(23,574\n)\n\n$\n67,414\n\n\n\nShare-based compensation expense\n\n\n\n\n\n\n\n\n\n\n\n(3,822\n)\n\n\nTransaction costs\n\n\n\n\n\n\n\n\n\n\n\n(2,400\n)\n\n\nDepreciation and amortization\n\n\n\n\n\n\n\n\n\n\n\n(5,898\n)\n\n\nInterest expense, net\n\n\n\n\n\n\n\n\n\n\n\n(24,415\n)\n\n\nIncome tax expense\n\n\n\n\n\n\n\n\n\n\n\n(11,487\n)\n\n\nNet income\n\n\n\n\n\n\n\n\n\n\n$\n19,392\n\n\n\n\n\n\n\n\nThree Months Ended December 31, 2022\n\n\n(in thousands)\nSenior\n\nHealthcare Services\n\nLife\n\nAuto & Home\n\nCorp & Elims\n\nConsolidated\n\n\nRevenue\n$\n223,826\n\n\n$\n55,480\n\n\n$\n33,995\n\n\n$\n7,808\n\n\n$\n(1,921\n)\n\n$\n319,188\n\n\n\nOperating expenses\n\n(140,209\n)\n\n\n(64,781\n)\n\n\n(28,152\n)\n\n\n(5,524\n)\n\n\n(16,877\n)\n\n\n(255,543\n)\n\n\nOther income (expense), net\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\n(70\n)\n\n\n(70\n)\n\n\nAdjusted EBITDA\n$\n83,617\n\n\n$\n(9,301\n)\n\n$\n5,843\n\n\n$\n2,284\n\n\n$\n(18,868\n)\n\n$\n63,575\n\n\n\nShare-based compensation expense\n\n\n\n\n\n\n\n\n\n\n\n(2,936\n)\n\n\nTransaction costs\n\n\n\n\n\n\n\n\n\n\n\n(442\n)\n\n\nDepreciation and amortization\n\n\n\n\n\n\n\n\n\n\n\n(7,188\n)\n\n\nLoss on disposal of property, equipment, and software\n\n\n\n\n\n\n\n\n\n\n\n(46\n)\n\n\nInterest expense, net\n\n\n\n\n\n\n\n\n\n\n\n(21,044\n)\n\n\nIncome tax expense\n\n\n\n\n\n\n\n\n\n\n\n(9,405\n)\n\n\nNet income\n\n\n\n\n\n\n\n\n\n\n$\n22,514\n\n\n\n\n\n\n\n\nSix Months Ended December 31, 2023\n\n\n(in thousands)\nSenior\n\nHealthcare Services\n\nLife\n\nAuto & Home\n\nCorp & Elims\n\nConsolidated\n\n\nRevenue\n$\n337,445\n\n\n$\n209,078\n\n\n$\n75,170\n\n\n$\n19,515\n\n\n$\n(3,041\n)\n\n$\n638,167\n\n\n\nOperating expenses\n\n(260,069\n)\n\n\n(203,774\n)\n\n\n(65,362\n)\n\n\n(11,470\n)\n\n\n(41,415\n)\n\n\n(582,090\n)\n\n\nOther income (expense), net\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\n(39\n)\n\n\n(39\n)\n\n\nAdjusted EBITDA\n$\n77,376\n\n\n$\n5,304\n\n\n$\n9,808\n\n\n$\n8,045\n\n\n$\n(44,495\n)\n\n$\n56,038\n\n\n\nShare-based compensation expense\n\n\n\n\n\n\n\n\n\n\n\n(6,997\n)\n\n\nTransaction costs\n\n\n\n\n\n\n\n\n\n\n\n(4,305\n)\n\n\nDepreciation and amortization\n\n\n\n\n\n\n\n\n\n\n\n(11,887\n)\n\n\nLoss on disposal of property, equipment, and software\n\n\n\n\n\n\n\n\n\n\n\n(9\n)\n\n\nInterest expense, net\n\n\n\n\n\n\n\n\n\n\n\n(45,811\n)\n\n\nIncome tax benefit\n\n\n\n\n\n\n\n\n\n\n\n1,312\n\n\n\nNet loss\n\n\n\n\n\n\n\n\n\n\n$\n(11,659\n)\n\n\n\n\n\n\n\nSix Months Ended December 31, 2022\n\n\n(in thousands)\nSenior\n\nHealthcare Services\n\nLife\n\nAuto & Home\n\nCorp & Elims\n\nConsolidated\n\n\nRevenue\n$\n301,340\n\n\n$\n98,546\n\n\n$\n70,830\n\n\n$\n14,890\n\n\n$\n(3,934\n)\n\n$\n481,672\n\n\n\nOperating expenses\n\n(221,574\n)\n\n\n(119,635\n)\n\n\n(59,963\n)\n\n\n(10,164\n)\n\n\n(34,322\n)\n\n\n(445,658\n)\n\n\nOther income (expense), net\n\n—\n\n\n\n—\n\n\n\n201\n\n\n\n(1\n)\n\n\n(112\n)\n\n\n88\n\n\n\nAdjusted EBITDA\n$\n79,766\n\n\n$\n(21,089\n)\n\n$\n11,068\n\n\n$\n4,725\n\n\n$\n(38,368\n)\n\n$\n36,102\n\n\n\nShare-based compensation expense\n\n\n\n\n\n\n\n\n\n\n\n(5,566\n)\n\n\nTransaction costs\n\n\n\n\n\n\n\n\n\n\n\n(2,570\n)\n\n\nDepreciation and amortization\n\n\n\n\n\n\n\n\n\n\n\n(13,990\n)\n\n\nLoss on disposal of property, equipment, and software\n\n\n\n\n\n\n\n\n\n\n\n(371\n)\n\n\nInterest expense, net\n\n\n\n\n\n\n\n\n\n\n\n(37,780\n)\n\n\nIncome tax benefit\n\n\n\n\n\n\n\n\n\n\n\n4,205\n\n\n\nNet loss\n\n\n\n\n\n\n\n\n\n\n$\n(19,970\n)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIES\n\n\nNet Loss to Adjusted EBITDA Reconciliation\n\n\n(Unaudited)\n\n\n\n \n\n\nGuidance net loss to Adjusted EBITDA reconciliation, year ending June 30, 2024:\n\n\n\n \n\n\n(in thousands)\nRange\n\n\nNet loss\n$\n(45,000\n)\n\n$\n(22,000\n)\n\n\nIncome tax benefit\n\n(8,000\n)\n\n\n(4,000\n)\n\n\nInterest expense, net\n\n97,000\n\n\n\n92,000\n\n\n\nDepreciation and amortization\n\n24,000\n\n\n\n22,000\n\n\n\nShare-based compensation expense\n\n15,000\n\n\n\n12,000\n\n\n\nNon-recurring expenses\n\n7,000\n\n\n\n5,000\n\n\n\nAdjusted EBITDA\n$\n90,000\n\n\n$\n105,000\n\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20240207634209/en/\nContacts\nInvestor Relations:Sloan Bohlen877-678-4083investorrelations@selectquote.com\nMedia:Matt Gunter913-286-4931matt.gunter@selectquote.com","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2409030276"}