SelectQuote, Inc. Reports First Quarter of Fiscal Year 2025 Results

Business Wire11-04

First Quarter of Fiscal Year 2025 – Consolidated Earnings Highlights Revenue of $292.3 million Net loss of $44.5 million Adjusted EBITDA* of $(1.7) million Fiscal Year 2025 Guidance Ranges: Revenue...

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Reports First Quarter of Fiscal Year 2025 Results","media":"Business Wire","content":"<div>\n<p>First Quarter of Fiscal Year 2025 – Consolidated Earnings Highlights\n\nRevenue of $292.3 million\nNet loss of $44.5 million\nAdjusted EBITDA* of $(1.7) million\n\nFiscal Year 2025 Guidance Ranges:\n\nRevenue...</p>\n\n<a href=\"https://finance.yahoo.com/news/selectquote-inc-reports-first-quarter-123000291.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 First Quarter of Fiscal Year 2025 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 First Quarter of Fiscal Year 2025 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-04 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/selectquote-inc-reports-first-quarter-123000291.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>First Quarter of Fiscal Year 2025 – Consolidated Earnings Highlights\n\nRevenue of $292.3 million\nNet loss of $44.5 million\nAdjusted EBITDA* of $(1.7) million\n\nFiscal Year 2025 Guidance Ranges:\n\nRevenue...</p>\n\n<a href=\"https://finance.yahoo.com/news/selectquote-inc-reports-first-quarter-123000291.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":"IE00B1XK9C88.USD","symbol_name":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/selectquote-inc-reports-first-quarter-123000291.html","article_id":"2480302986","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/wdCla6jpIGavF9K.PNiz6Q--~B/aD01MTI7dz0xMDI0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/b924e07547e5de710c4307405fee71a4"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480302986","pubTimestamp":1730723400,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"First Quarter of Fiscal Year 2025 – Consolidated Earnings Highlights. Revenue expected in a range of $1.425 billion to $1.525 billion. Net income  expected in a range of $ million to $3 million. Adjusted EBITDA* expected in a range of $100 million to $130 million. First Quarter Fiscal Year 2025 – Segment Highlights. Mr. Danker continued, \"This quarter was also a success for our broadening Healthcare Services platform led by SelectRx. Our bespoke prescription drug service now has over 86 thousand members, which represents growth of over 64% compared to a year ago. Separately, SelectQuote recently announced our initial receivable securitization, which was a critical first step in our ongoing strategy to improve our capital flexibility.\". \"We look forward to sharing our AEP results next quarter and are excited by the value our differentiated model continues to provide to a large and growing population of American seniors,\" Mr. Danker concluded.We currently have three reportable segments: ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","SLQT":"SelectQuote, Inc.","BK4534":"瑞士信贷持仓","MA":"万事达","BK4227":"交易和支付处理服务","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4559":"巴菲特持仓","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BK4588":"碎股","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU1548497426.USD":"安联环球人工智能AT Acc","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4581":"高盛持仓","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","BK4548":"巴美列捷福持仓","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4173":"保险经纪商","BK4127":"投资银行业与经纪业","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","LU0094547139.USD":"abrdn SICAV I - GLOBAL SUSTAINABLE EQUITY FUND \"A\" (USD) ACC","HCAR":"Healthcare Services Acquisition Corp"},"translate_title":"SelectQuote，Inc.报告2025财年第一季度业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SLQT":1,"MA":0.9,"HCAR":0.9},"content_text":"First Quarter of Fiscal Year 2025 – Consolidated Earnings Highlights\n\nRevenue of $292.3 million\nNet loss of $44.5 million\nAdjusted EBITDA* of $(1.7) million\n\nFiscal Year 2025 Guidance Ranges:\n\nRevenue expected in a range of $1.425 billion to $1.525 billion\nNet income (loss) expected in a range of $(59) million to $3 million\nAdjusted EBITDA* expected in a range of $100 million to $130 million\n\nFirst Quarter Fiscal Year 2025 – Segment Highlights\nSenior\n\nRevenue of $92.9 million\nAdjusted EBITDA* of $7.7 million\nApproved Medicare Advantage policies of 91,680\n\nHealthcare Services\n\nRevenue of $155.7 million\nAdjusted EBITDA* of $4.9 million\n86,521 SelectRx members\n\nLife\n\nRevenue of $39.3 million\nAdjusted EBITDA* of $6.0 million\n\nOVERLAND PARK, Kan., November 04, 2024--(BUSINESS WIRE)--SelectQuote, Inc. (NYSE: SLQT) reported consolidated revenue for the first quarter of fiscal year 2025 of $292.3 million compared to consolidated revenue for the first quarter of fiscal year 2024 of $232.7 million. Consolidated net loss for the first quarter of fiscal year 2025 was $44.5 million compared to consolidated net loss for the first quarter of fiscal year 2024 of $31.1 million. Finally, consolidated Adjusted EBITDA* for the first quarter of fiscal year 2025 was $(1.7) million compared to consolidated Adjusted EBITDA* for the first quarter of fiscal year 2024 of $(11.4) million.\nSelectQuote Chief Executive Officer, Tim Danker, remarked, \"SelectQuote opened our fiscal 2025 with a strong quarter and our holistic approach to healthcare connectivity between Americans in need of care, and the insurers and caregivers that provide it, has never been more valuable. As reported in the market, benefit coverage for Medicare Advantage plans shifted significantly this season, and we are pleased to say that both seniors and insurance carriers have increasingly turned to SelectQuote’s agent-led, true-choice platform to ensure individual care needs are met with the best plan available. When our customers and carrier partners benefit, so do our performance metrics and shareholders, and we proud of this alignment.\"\nMr. Danker continued, \"This quarter was also a success for our broadening Healthcare Services platform led by SelectRx. Our bespoke prescription drug service now has over 86 thousand members, which represents growth of over 64% compared to a year ago. Separately, SelectQuote recently announced our initial receivable securitization, which was a critical first step in our ongoing strategy to improve our capital flexibility.\"\n\"We look forward to sharing our AEP results next quarter and are excited by the value our differentiated model continues to provide to a large and growing population of American seniors,\" Mr. Danker concluded.\n* See \"Non-GAAP Financial Measures\" below.\nSegment Results\nWe currently have three reportable segments: 1) Senior, 2) Healthcare Services and 3) Life. The performance measures of the segments include total revenue and Adjusted EBITDA.* Costs of commissions and other services 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 our segment profit measure to evaluate the operating performance of our business. We define Adjusted EBITDA as net loss plus: (i) interest expense, net; (ii) expense (benefit) for income taxes; (iii) depreciation and amortization; (iv) share-based compensation; (v) goodwill, long-lived asset, and intangible assets impairments; (vi) transaction costs; (vii) loss on disposal of property, equipment and software, net; and (viii) other non-recurring expenses and income. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by revenue.\nSenior\nFinancial Results\nThe following table provides the financial results for the Senior segment for the periods presented:\n\n\n\n(in thousands)\n\n1Q 2025\n\n\n\n1Q 2024\n\n\n% Change\n\n\nRevenue\n$\n92,908\n\n\n$\n89,918\n\n\n3\n%\n\n\nAdjusted EBITDA*\n\n7,724\n\n\n\n(1,335\n)\n\n679\n%\n\n\nAdjusted EBITDA Margin*\n\n8\n%\n\n\n(1\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\n1Q 2025\n\n1Q 2024\n\n% Change\n\n\nMedicare Advantage\n102,281\n\n104,532\n\n(2\n)%\n\n\nAll other (1)\n16,256\n\n14,920\n\n9\n%\n\n\nTotal\n118,537\n\n119,452\n\n(1\n)%\n\n\n\n(1) Represents the submitted policies for medicare supplement, dental, vision and hearing, prescription drug plan and other.\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.\n* See \"Non-GAAP Financial Measures\" below.\nThe following table shows the number of approved policies for the periods presented:\n\n\n\n\n1Q 2025\n\n1Q 2024\n\n% Change\n\n\nMedicare Advantage\n91,680\n\n97,681\n\n(6\n)%\n\n\nAll other (1)\n12,979\n\n12,195\n\n6\n%\n\n\nTotal\n104,659\n\n109,876\n\n(5\n)%\n\n\n\n(1) Represents the approved policies for medicare supplement, dental, vision and hearing, prescription drug plan and other.\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(dollars per policy):\n\n1Q 2025\n\n\n1Q 2024\n\n% Change\n\n\nMedicare Advantage\n$\n812\n\n$\n761\n\n7\n%\n\n\nAll other (1)\n\n165\n\n\n164\n\n—\n%\n\n\n\n(1) Represents the weighted average LTV per approved policy.\nHealthcare Services\nFinancial Results\nThe following table provides the financial results for the Healthcare Services segment for the periods presented:\n\n\n\n(in thousands)\n\n1Q 2025\n\n\n\n1Q 2024\n\n\n% Change\n\n\nRevenue\n$\n155,739\n\n\n$\n97,368\n\n\n60\n%\n\n\nAdjusted EBITDA*\n\n4,878\n\n\n\n2,322\n\n\n110\n%\n\n\nAdjusted EBITDA Margin*\n\n3\n%\n\n\n2\n%\n\n\n\n\n\nOperating Metrics\nMembers\nThe total number of SelectRx members represents the amount of active customers to which an order has been shipped and the prescriptions per day represents the total average prescriptions shipped per business day. These two metrics are the primary drivers of revenue for Healthcare Services.\nThe following table shows the total number of SelectRx members as of the periods presented:\n\n\n\n\n\nSeptember 30, 2024\n\nSeptember 30, 2023\n\n\nTotal SelectRx Members\n\n86,521\n\n52,750\n\n\n\nThe total number of SelectRx members increased by 64% as of September 30, 2024, compared to September 30, 2023, due to our continued operating strategy to grow SelectRx.\n* See \"Non-GAAP Financial Measures\" below.\nThe following table shows the average prescriptions shipped per day for the periods presented:\n\n\n\n\n\nSeptember 30, 2024\n\nSeptember 30, 2023\n\n\nPrescriptions Per Day\n\n24,998\n\n15,479\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 cost, 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\nTwelve Months Ended September 30,\n\n\n(dollars per approved policy):\n\n2025\n\n\n\n2024\n\n\n\nMA and MS approved policies\n\n621,040\n\n\n\n594,554\n\n\n\nMA and MS commission per MA / MS policy\n$\n919\n\n\n$\n872\n\n\n\nOther commission per MA/MS policy\n\n12\n\n\n\n13\n\n\n\nPharmacy revenue per MA/MS policy\n\n842\n\n\n\n493\n\n\n\nOther revenue per MA/MS policy\n\n152\n\n\n\n151\n\n\n\nTotal revenue per MA / MS policy\n\n1,925\n\n\n\n1,529\n\n\n\nTotal operating expenses per MA / MS policy\n\n(1,626\n)\n\n\n(1,278\n)\n\n\nAdjusted EBITDA per MA/MS policy *\n$\n299\n\n\n$\n251\n\n\n\nAdjusted EBITDA Margin per MA/MS policy *\n\n16\n%\n\n\n16\n%\n\n\nRevenue / CAC multiple\n4.6X\n\n\n4.3X\n\n\n\n\nTotal revenue per MA/MS policy increased 26% for the twelve months ended September 30, 2024, compared to the twelve months ended September 30, 2023, primarily due to the increase in pharmacy revenue. Total operating expenses per MA/MS policy increased 27% for the twelve months ended September 30, 2024, compared to the twelve months ended September 30, 2023, driven by an increase in cost of goods sold-pharmacy revenue for Healthcare Services due to the growth of the business.\nLife\nFinancial Results\nThe following table provides the financial results for the Life segment for the periods presented:\n\n\n\n(in thousands)\n\n1Q 2025\n\n\n\n1Q 2024\n\n\n% Change\n\n\nRevenue\n$\n39,290\n\n\n$\n37,803\n\n\n4\n%\n\n\nAdjusted EBITDA*\n\n5,960\n\n\n\n5,240\n\n\n14\n%\n\n\nAdjusted EBITDA Margin*\n\n15\n%\n\n\n14\n%\n\n\n\n\n\nOperating Metrics\nLife premium represents the total premium value for all policies that were approved by the relevant insurance carrier partner and for which the policy document was sent to the policyholder and payment information was received by the relevant insurance carrier partner during the indicated period. Because our commissions are earned based on a percentage of total premium, total premium volume for a given period is the key driver of revenue for our Life segment.\nThe following table shows term and final expense premiums for the periods presented:\n\n\n\n(in thousands)\n\n1Q 2025\n\n\n1Q 2024\n\n% Change\n\n\nTerm Premiums\n$\n15,218\n\n$\n18,190\n\n(16\n)%\n\n\nFinal Expense Premiums\n\n24,473\n\n\n19,699\n\n24\n%\n\n\nTotal\n$\n39,691\n\n$\n37,889\n\n5\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 on November 4, 2024, beginning at 8:30 a.m. ET. To register for this conference call, please use this link: https://registrations.events/direct/Q4I1559258472. 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 net 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. We 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 that 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 net income (loss) to Adjusted EBITDA are presented below beginning on page 13.\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: impacts of the COVID-19 pandemic and any other significant 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, 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; our ability to regain and maintain compliance with NYSE listing standards; potential litigation and other legal proceedings or inquiries; our existing and future indebtedness; our ability to maintain compliance with our debt covenants; access to additional capital; 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 (the \"Annual Report\") 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 specialized medication management pharmacy, and Population Health which proactively connects its members with best-in-class healthcare services that fit each member's unique healthcare needs. The platform improves health outcomes and lowers healthcare costs through proactive engagement and access to high-value healthcare solutions.\nSource: SelectQuote, Inc.\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(Unaudited)(In thousands)\n\n\n\nSeptember 30, 2024\n\nJune 30, 2024\n\n\nASSETS\n\n\n\n\n\nCURRENT ASSETS:\n\n\n\n\n\nCash and cash equivalents\n$\n10,444\n\n\n$\n42,690\n\n\n\nAccounts receivable, net of allowances of $10.1 million and $8.2 million, respectively\n\n99,534\n\n\n\n150,035\n\n\n\nCommissions receivable-current\n\n176,760\n\n\n\n119,871\n\n\n\nOther current assets\n\n20,144\n\n\n\n20,327\n\n\n\nTotal current assets\n\n306,882\n\n\n\n332,923\n\n\n\nCOMMISSIONS RECEIVABLE—Net\n\n743,024\n\n\n\n761,446\n\n\n\nPROPERTY AND EQUIPMENT—Net\n\n18,191\n\n\n\n18,973\n\n\n\nSOFTWARE—Net\n\n14,224\n\n\n\n13,978\n\n\n\nOPERATING LEASE RIGHT-OF-USE ASSETS\n\n22,591\n\n\n\n23,437\n\n\n\nINTANGIBLE ASSETS—Net\n\n9,162\n\n\n\n10,194\n\n\n\nGOODWILL\n\n29,438\n\n\n\n29,438\n\n\n\nOTHER ASSETS\n\n3,359\n\n\n\n3,519\n\n\n\nTOTAL ASSETS\n$\n1,146,871\n\n\n$\n1,193,908\n\n\n\n\n\n\n\n\n\nLIABILITIES AND SHAREHOLDERS’ EQUITY\n\n\n\n\n\nCURRENT LIABILITIES:\n\n\n\n\n\nAccounts payable\n$\n51,108\n\n\n$\n36,587\n\n\n\nAccrued expenses\n\n15,409\n\n\n\n16,904\n\n\n\nAccrued compensation and benefits\n\n44,735\n\n\n\n57,594\n\n\n\nOperating lease liabilities—current\n\n4,764\n\n\n\n4,709\n\n\n\nCurrent portion of long-term debt\n\n43,290\n\n\n\n45,854\n\n\n\nContract liabilities\n\n2,952\n\n\n\n8,066\n\n\n\nOther current liabilities\n\n4,487\n\n\n\n4,873\n\n\n\nTotal current liabilities\n\n166,745\n\n\n\n174,587\n\n\n\nLONG-TERM DEBT, NET—less current portion\n\n637,155\n\n\n\n637,480\n\n\n\nDEFERRED INCOME TAXES\n\n46,018\n\n\n\n37,478\n\n\n\nOPERATING LEASE LIABILITIES\n\n24,560\n\n\n\n25,685\n\n\n\nOTHER LIABILITIES\n\n2,954\n\n\n\n1,877\n\n\n\nTotal liabilities\n\n877,432\n\n\n\n877,107\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, $0.01 par value\n\n1,715\n\n\n\n1,694\n\n\n\nAdditional paid-in capital\n\n580,712\n\n\n\n580,764\n\n\n\nAccumulated deficit\n\n(314,315\n)\n\n\n(269,769\n)\n\n\nAccumulated other comprehensive income\n\n1,327\n\n\n\n4,112\n\n\n\nTotal shareholders’ equity\n\n269,439\n\n\n\n316,801\n\n\n\nTOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY\n$\n1,146,871\n\n\n$\n1,193,908\n\n\n\n\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(Unaudited)(In thousands)\n\n\n\nThree Months Ended September 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nREVENUE:\n\n\n\n\n\nCommissions and other services\n$\n139,380\n\n\n$\n137,942\n\n\n\nPharmacy\n\n152,883\n\n\n\n94,788\n\n\n\nTotal revenue\n\n292,263\n\n\n\n232,730\n\n\n\n\n\n\n\n\n\nOPERATING COSTS AND EXPENSES:\n\n\n\n\n\nCost of commissions and other services revenue\n\n65,733\n\n\n\n72,511\n\n\n\nCost of goods sold—pharmacy revenue\n\n129,524\n\n\n\n84,008\n\n\n\nMarketing and advertising\n\n63,764\n\n\n\n62,323\n\n\n\nSelling, general, and administrative\n\n36,145\n\n\n\n28,666\n\n\n\nTechnical development\n\n9,074\n\n\n\n7,637\n\n\n\nTotal operating costs and expenses\n\n304,240\n\n\n\n255,145\n\n\n\n\n\n\n\n\n\nLOSS FROM OPERATIONS\n\n(11,977\n)\n\n\n(22,415\n)\n\n\n\n\n\n\n\n\nINTEREST EXPENSE, NET\n\n(23,031\n)\n\n\n(21,397\n)\n\n\nOTHER EXPENSE, NET\n\n(12\n)\n\n\n(38\n)\n\n\nLOSS BEFORE INCOME TAX EXPENSE (BENEFIT)\n\n(35,020\n)\n\n\n(43,850\n)\n\n\nINCOME TAX EXPENSE (BENEFIT)\n\n9,526\n\n\n\n(12,799\n)\n\n\n\n\n\n\n\n\nNET LOSS\n$\n(44,546\n)\n\n$\n(31,051\n)\n\n\n\n\n\n\n\n\nNET LOSS PER SHARE:\n\n\n\n\n\nBasic\n$\n(0.26\n)\n\n$\n(0.19\n)\n\n\nDiluted\n$\n(0.26\n)\n\n$\n(0.19\n)\n\n\n\n\n\n\n\n\nWEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS:\n\n\n\n\n\nBasic\n\n170,431\n\n\n\n167,453\n\n\n\nDiluted\n\n170,431\n\n\n\n167,453\n\n\n\n\n\n\n\n\n\nOTHER COMPREHENSIVE LOSS NET OF TAX:\n\n\n\n\n\nChange in cash flow hedge\n\n(2,785\n)\n\n\n(2,010\n)\n\n\nOTHER COMPREHENSIVE LOSS\n\n(2,785\n)\n\n\n(2,010\n)\n\n\nCOMPREHENSIVE LOSS\n$\n(47,331\n)\n\n$\n(33,061\n)\n\n\n\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In thousands)\n\n\n\n\nThree Months Ended September 30,\n\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nCASH FLOWS FROM OPERATING ACTIVITIES:\n\n\n\n\n\n\nNet loss\n\n$\n(44,546\n)\n\n$\n(31,051\n)\n\n\nAdjustments to reconcile net loss to net cash and cash equivalents used in operating activities:\n\n\n\n\n—\n\n\n\nDepreciation and amortization\n\n\n5,599\n\n\n\n5,989\n\n\n\nLoss on disposal of property, equipment, and software\n\n\n68\n\n\n\n9\n\n\n\nShare-based compensation expense\n\n\n3,846\n\n\n\n3,175\n\n\n\nDeferred income taxes\n\n\n9,526\n\n\n\n(13,049\n)\n\n\nAmortization of debt issuance costs and debt discount\n\n\n1,064\n\n\n\n1,612\n\n\n\nAccrued interest payable in kind\n\n\n5,289\n\n\n\n3,622\n\n\n\nNon-cash lease expense\n\n\n903\n\n\n\n784\n\n\n\nChanges in operating assets and liabilities:\n\n\n\n\n\n\nAccounts receivable, net\n\n\n50,501\n\n\n\n38,693\n\n\n\nCommissions receivable\n\n\n(38,466\n)\n\n\n(29,148\n)\n\n\nOther assets\n\n\n(3,516\n)\n\n\n(2,027\n)\n\n\nAccounts payable and accrued expenses\n\n\n12,761\n\n\n\n5,257\n\n\n\nOperating lease liabilities\n\n\n(1,127\n)\n\n\n(1,498\n)\n\n\nOther liabilities\n\n\n(18,512\n)\n\n\n(6,039\n)\n\n\nNet cash used in operating activities\n\n\n(16,610\n)\n\n\n(23,671\n)\n\n\nCASH FLOWS FROM INVESTING ACTIVITIES:\n\n\n\n\n\n\nPurchases of property and equipment\n\n\n(442\n)\n\n\n(616\n)\n\n\nProceeds from sales of property and equipment\n\n\n—\n\n\n\n253\n\n\n\nPurchases of software and capitalized software development costs\n\n\n(2,132\n)\n\n\n(1,782\n)\n\n\nNet cash used in investing activities\n\n\n(2,574\n)\n\n\n(2,145\n)\n\n\nCASH FLOWS FROM FINANCING ACTIVITIES:\n\n\n\n\n\n\nPayments on Term Loans\n\n\n(8,471\n)\n\n\n(8,471\n)\n\n\nPayments on other debt\n\n\n(30\n)\n\n\n(37\n)\n\n\nProceeds from common stock options exercised and employee stock purchase plan\n\n\n38\n\n\n\n—\n\n\n\nPayments of tax withholdings related to net share settlement of equity awards\n\n\n(3,915\n)\n\n\n(346\n)\n\n\nPayments of debt issuance costs\n\n\n(684\n)\n\n\n—\n\n\n\nNet cash used in financing activities\n\n\n(13,062\n)\n\n\n(8,854\n)\n\n\nNET DECREASE IN CASH AND CASH EQUIVALENTS\n\n\n(32,246\n)\n\n\n(34,670\n)\n\n\nCASH AND CASH EQUIVALENTS—Beginning of period\n\n\n42,690\n\n\n\n83,156\n\n\n\nCASH AND CASH EQUIVALENTS—End of period\n\n$\n10,444\n\n\n$\n48,486\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIESAdjusted EBITDA to Loss before income tax expense (benefit) Reconciliation(Unaudited)\n\n\n\nThree Months Ended September 30, 2024\n\n\n(in thousands)\nSenior\n\nHealthcare Services\n\nLife\n\nTotal\n\n\nAdjusted Segment EBITDA\n$\n7,724\n\n$\n4,878\n\n$\n5,960\n\n$\n18,562\n\n\n\nAll other Adjusted EBITDA\n\n\n\n\n\n\n\n3,797\n\n\n\nCorporate & elimination of intersegment profits\n\n\n\n\n\n\n\n(24,042\n)\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n\n(1,683\n)\n\n\n\n\n\n\n\n\n\n\n\n\nShare-based compensation expense\n\n\n\n\n\n\n\n(3,846\n)\n\n\nTransaction costs (1)\n\n\n\n\n\n\n\n(826\n)\n\n\nDepreciation and amortization\n\n\n\n\n\n\n\n(5,599\n)\n\n\nLoss on disposal of property, equipment, and software, net\n\n\n\n\n\n\n\n(35\n)\n\n\nInterest expense, net\n\n\n\n\n\n\n\n(23,031\n)\n\n\nLoss before income tax expense (benefit)\n\n\n\n\n\n\n$\n(35,020\n)\n\n\n\n\n\n\n\nThree Months Ended September 30, 2023\n\n\n(in thousands)\nSenior\n\nHealthcare Services\n\nLife\n\nTotal\n\n\nAdjusted Segment EBITDA\n$\n(1,335\n)\n\n$\n2,322\n\n$\n5,240\n\n$\n6,227\n\n\n\nAll other Adjusted EBITDA\n\n\n\n\n\n\n\n3,319\n\n\n\nCorporate & elimination of intersegment profits\n\n\n\n\n\n\n\n(20,922\n)\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n\n(11,376\n)\n\n\n\n\n\n\n\n\n\n\n\n\nShare-based compensation expense\n\n\n\n\n\n\n\n(3,175\n)\n\n\nTransaction costs (1)\n\n\n\n\n\n\n\n(1,904\n)\n\n\nDepreciation and amortization\n\n\n\n\n\n\n\n(5,989\n)\n\n\nLoss on disposal of property, equipment, and software\n\n\n\n\n\n\n\n(9\n)\n\n\nInterest expense, net\n\n\n\n\n\n\n\n(21,397\n)\n\n\nLoss before income tax expense (benefit)\n\n\n\n\n\n\n$\n(43,850\n)\n\n\n\n\n\n\nSELECTQUOTE, INC. AND SUBSIDIARIESNet Income (Loss) to Adjusted EBITDA Reconciliation(Unaudited)\n\n\nGuidance Net income (loss) to Adjusted EBITDA reconciliation, year ending June 30, 2025:\n\n\n(in thousands)\nRange\n\n\nNet income (loss)\n$\n(59,000\n)\n\n$\n3,000\n\n\nIncome tax expense\n\n13,000\n\n\n\n1,000\n\n\nInterest expense, net\n\n100,000\n\n\n\n90,000\n\n\nDepreciation and amortization\n\n24,000\n\n\n\n20,000\n\n\nShare-based compensation expense\n\n16,000\n\n\n\n13,000\n\n\nTransaction costs\n\n6,000\n\n\n\n3,000\n\n\nAdjusted EBITDA\n$\n100,000\n\n\n$\n130,000\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241104387638/en/\nContacts\nInvestor Relations:Sloan Bohlen877-678-4083investorrelations@selectquote.com Media:Matt Gunter913-286-4931matt.gunter@selectquote.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"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":"4.29.2","shortVersion":"4.29.2","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/2480302986"}