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 expected in a range of $1.425 billion to $1.525
billion
- Net income (loss) expected in a range of $(59) million to $3
million
- Adjusted EBITDA* expected in a range of $100 million to $130
million
First Quarter Fiscal Year 2025 – Segment Highlights
Senior
- Revenue of $92.9 million
- Adjusted EBITDA* of $7.7 million
- Approved Medicare Advantage policies of 91,680
Healthcare Services
- Revenue of $155.7 million
- Adjusted EBITDA* of $4.9 million
- 86,521 SelectRx members
Life
- Revenue of $39.3 million
- Adjusted EBITDA* of $6.0 million
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.
SelectQuote 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.”
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.
* See “Non-GAAP Financial Measures” below.
Segment Results
We 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.
Senior
Financial Results
The following table provides the financial results for the
Senior segment for the periods presented:
(in thousands)
1Q 2025
1Q 2024
% Change
Revenue
$
92,908
$
89,918
3
%
Adjusted EBITDA*
7,724
(1,335
)
679
%
Adjusted EBITDA Margin*
8
%
(1
)%
Operating Metrics
Submitted Policies
Submitted 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.
The following table shows the number of submitted policies for
the periods presented:
1Q 2025
1Q 2024
% Change
Medicare Advantage
102,281
104,532
(2
)%
All other (1)
16,256
14,920
9
%
Total
118,537
119,452
(1
)%
(1) Represents the submitted policies for medicare supplement,
dental, vision and hearing, prescription drug plan and other.
Approved Policies
Approved 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.
* See “Non-GAAP Financial Measures” below.
The following table shows the number of approved policies for
the periods presented:
1Q 2025
1Q 2024
% Change
Medicare Advantage
91,680
97,681
(6
)%
All other (1)
12,979
12,195
6
%
Total
104,659
109,876
(5
)%
(1) Represents the approved policies for medicare supplement,
dental, vision and hearing, prescription drug plan and other.
Lifetime Value of Commissions per Approved Policy
Lifetime 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.
The following table shows the lifetime value of commissions per
approved policy for the periods presented:
(dollars per policy):
1Q 2025
1Q 2024
% Change
Medicare Advantage
$
812
$
761
7
%
All other (1)
165
164
—
%
(1) Represents the weighted average LTV per approved policy.
Healthcare Services
Financial Results
The following table provides the financial results for the
Healthcare Services segment for the periods presented:
(in thousands)
1Q 2025
1Q 2024
% Change
Revenue
$
155,739
$
97,368
60
%
Adjusted EBITDA*
4,878
2,322
110
%
Adjusted EBITDA Margin*
3
%
2
%
Operating Metrics
Members
The 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.
The following table shows the total number of SelectRx members
as of the periods presented:
September 30, 2024
September 30, 2023
Total SelectRx Members
86,521
52,750
The 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.
* See “Non-GAAP Financial Measures” below.
The following table shows the average prescriptions shipped per
day for the periods presented:
September 30, 2024
September 30, 2023
Prescriptions Per Day
24,998
15,479
Combined Senior and Healthcare Services - Consumer Per Unit
Economics
The 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.
Combined 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.
The 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.
The 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.
Twelve Months Ended September
30,
(dollars per approved policy):
2025
2024
MA and MS approved policies
621,040
594,554
MA and MS commission per MA / MS
policy
$
919
$
872
Other commission per MA/MS policy
12
13
Pharmacy revenue per MA/MS policy
842
493
Other revenue per MA/MS policy
152
151
Total revenue per MA / MS policy
1,925
1,529
Total operating expenses per MA / MS
policy
(1,626
)
(1,278
)
Adjusted EBITDA per MA/MS policy *
$
299
$
251
Adjusted EBITDA Margin per MA/MS policy
*
16
%
16
%
Revenue / CAC multiple
4.6X
4.3X
Total 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.
Life
Financial Results
The following table provides the financial results for the Life
segment for the periods presented:
(in thousands)
1Q 2025
1Q 2024
% Change
Revenue
$
39,290
$
37,803
4
%
Adjusted EBITDA*
5,960
5,240
14
%
Adjusted EBITDA Margin*
15
%
14
%
Operating Metrics
Life 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.
The following table shows term and final expense premiums for
the periods presented:
(in thousands)
1Q 2025
1Q 2024
% Change
Term Premiums
$
15,218
$
18,190
(16
)%
Final Expense Premiums
24,473
19,699
24
%
Total
$
39,691
$
37,889
5
%
* See “Non-GAAP Financial Measures” below.
Earnings Conference Call
SelectQuote, 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.
Non-GAAP Financial Measures
This 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.
Forward Looking Statements
This 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.
There 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.
About SelectQuote:
Founded 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.
With 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.
Source: SelectQuote, Inc.
SELECTQUOTE, INC. AND
SUBSIDIARIES
CONSOLIDATED BALANCE
SHEETS
(Unaudited)
(In thousands)
September 30, 2024
June 30, 2024
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$
10,444
$
42,690
Accounts receivable, net of allowances of
$10.1 million and $8.2 million, respectively
99,534
150,035
Commissions receivable-current
176,760
119,871
Other current assets
20,144
20,327
Total current assets
306,882
332,923
COMMISSIONS RECEIVABLE—Net
743,024
761,446
PROPERTY AND EQUIPMENT—Net
18,191
18,973
SOFTWARE—Net
14,224
13,978
OPERATING LEASE RIGHT-OF-USE ASSETS
22,591
23,437
INTANGIBLE ASSETS—Net
9,162
10,194
GOODWILL
29,438
29,438
OTHER ASSETS
3,359
3,519
TOTAL ASSETS
$
1,146,871
$
1,193,908
LIABILITIES AND SHAREHOLDERS’
EQUITY
CURRENT LIABILITIES:
Accounts payable
$
51,108
$
36,587
Accrued expenses
15,409
16,904
Accrued compensation and benefits
44,735
57,594
Operating lease liabilities—current
4,764
4,709
Current portion of long-term debt
43,290
45,854
Contract liabilities
2,952
8,066
Other current liabilities
4,487
4,873
Total current liabilities
166,745
174,587
LONG-TERM DEBT, NET—less current
portion
637,155
637,480
DEFERRED INCOME TAXES
46,018
37,478
OPERATING LEASE LIABILITIES
24,560
25,685
OTHER LIABILITIES
2,954
1,877
Total liabilities
877,432
877,107
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Common stock, $0.01 par value
1,715
1,694
Additional paid-in capital
580,712
580,764
Accumulated deficit
(314,315
)
(269,769
)
Accumulated other comprehensive income
1,327
4,112
Total shareholders’ equity
269,439
316,801
TOTAL LIABILITIES AND SHAREHOLDERS’
EQUITY
$
1,146,871
$
1,193,908
SELECTQUOTE, INC. AND
SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
COMPREHENSIVE LOSS
(Unaudited)
(In thousands)
Three Months Ended September
30,
2024
2023
REVENUE:
Commissions and other services
$
139,380
$
137,942
Pharmacy
152,883
94,788
Total revenue
292,263
232,730
OPERATING COSTS AND EXPENSES:
Cost of commissions and other services
revenue
65,733
72,511
Cost of goods sold—pharmacy revenue
129,524
84,008
Marketing and advertising
63,764
62,323
Selling, general, and administrative
36,145
28,666
Technical development
9,074
7,637
Total operating costs and expenses
304,240
255,145
LOSS FROM OPERATIONS
(11,977
)
(22,415
)
INTEREST EXPENSE, NET
(23,031
)
(21,397
)
OTHER EXPENSE, NET
(12
)
(38
)
LOSS BEFORE INCOME TAX EXPENSE
(BENEFIT)
(35,020
)
(43,850
)
INCOME TAX EXPENSE (BENEFIT)
9,526
(12,799
)
NET LOSS
$
(44,546
)
$
(31,051
)
NET LOSS PER SHARE:
Basic
$
(0.26
)
$
(0.19
)
Diluted
$
(0.26
)
$
(0.19
)
WEIGHTED-AVERAGE COMMON STOCK OUTSTANDING
USED IN PER SHARE AMOUNTS:
Basic
170,431
167,453
Diluted
170,431
167,453
OTHER COMPREHENSIVE LOSS NET OF TAX:
Change in cash flow hedge
(2,785
)
(2,010
)
OTHER COMPREHENSIVE LOSS
(2,785
)
(2,010
)
COMPREHENSIVE LOSS
$
(47,331
)
$
(33,061
)
SELECTQUOTE, INC. AND
SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
CASH FLOWS
(Unaudited)
(In thousands)
Three Months Ended September
30,
2024
2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
$
(44,546
)
$
(31,051
)
Adjustments to reconcile net loss to net
cash and cash equivalents used in operating activities:
—
Depreciation and amortization
5,599
5,989
Loss on disposal of property, equipment,
and software
68
9
Share-based compensation expense
3,846
3,175
Deferred income taxes
9,526
(13,049
)
Amortization of debt issuance costs and
debt discount
1,064
1,612
Accrued interest payable in kind
5,289
3,622
Non-cash lease expense
903
784
Changes in operating assets and
liabilities:
Accounts receivable, net
50,501
38,693
Commissions receivable
(38,466
)
(29,148
)
Other assets
(3,516
)
(2,027
)
Accounts payable and accrued expenses
12,761
5,257
Operating lease liabilities
(1,127
)
(1,498
)
Other liabilities
(18,512
)
(6,039
)
Net cash used in operating activities
(16,610
)
(23,671
)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment
(442
)
(616
)
Proceeds from sales of property and
equipment
—
253
Purchases of software and capitalized
software development costs
(2,132
)
(1,782
)
Net cash used in investing activities
(2,574
)
(2,145
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on Term Loans
(8,471
)
(8,471
)
Payments on other debt
(30
)
(37
)
Proceeds from common stock options
exercised and employee stock purchase plan
38
—
Payments of tax withholdings related to
net share settlement of equity awards
(3,915
)
(346
)
Payments of debt issuance costs
(684
)
—
Net cash used in financing activities
(13,062
)
(8,854
)
NET DECREASE IN CASH AND CASH
EQUIVALENTS
(32,246
)
(34,670
)
CASH AND CASH EQUIVALENTS—Beginning of
period
42,690
83,156
CASH AND CASH EQUIVALENTS—End of
period
$
10,444
$
48,486
SELECTQUOTE, INC. AND
SUBSIDIARIES
Adjusted EBITDA to Loss before
income tax expense (benefit) Reconciliation
(Unaudited)
Three Months Ended September
30, 2024
(in thousands)
Senior
Healthcare Services
Life
Total
Adjusted Segment EBITDA
$
7,724
$
4,878
$
5,960
$
18,562
All other Adjusted EBITDA
3,797
Corporate & elimination of
intersegment profits
(24,042
)
Adjusted EBITDA
(1,683
)
Share-based compensation expense
(3,846
)
Transaction costs (1)
(826
)
Depreciation and amortization
(5,599
)
Loss on disposal of property, equipment,
and software, net
(35
)
Interest expense, net
(23,031
)
Loss before income tax expense
(benefit)
$
(35,020
)
Three Months Ended September
30, 2023
(in thousands)
Senior
Healthcare Services
Life
Total
Adjusted Segment EBITDA
$
(1,335
)
$
2,322
$
5,240
$
6,227
All other Adjusted EBITDA
3,319
Corporate & elimination of
intersegment profits
(20,922
)
Adjusted EBITDA
(11,376
)
Share-based compensation expense
(3,175
)
Transaction costs (1)
(1,904
)
Depreciation and amortization
(5,989
)
Loss on disposal of property, equipment,
and software
(9
)
Interest expense, net
(21,397
)
Loss before income tax expense
(benefit)
$
(43,850
)
SELECTQUOTE, INC. AND
SUBSIDIARIES
Net Income (Loss) to Adjusted
EBITDA Reconciliation
(Unaudited)
Guidance Net income (loss) to Adjusted
EBITDA reconciliation, year ending June 30, 2025:
(in thousands)
Range
Net income (loss)
$
(59,000
)
$
3,000
Income tax expense
13,000
1,000
Interest expense, net
100,000
90,000
Depreciation and amortization
24,000
20,000
Share-based compensation expense
16,000
13,000
Transaction costs
6,000
3,000
Adjusted EBITDA
$
100,000
$
130,000
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241104387638/en/
Investor Relations: Sloan Bohlen 877-678-4083
investorrelations@selectquote.com Media: Matt Gunter 913-286-4931
matt.gunter@selectquote.com
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