WESTLAKE, Texas, April 22, 2026 (GLOBE NEWSWIRE) -- Goosehead Insurance, Inc. ("Goosehead" or the "Company") (NASDAQ:GSHD), a rapidly growing independent personal lines insurance agency, today announced results for the first quarter ended March 31, 2026.
First Quarter 2026 Highlights
Total Revenues grew 23% over the prior-year period to $93.1 million in the first quarter of 2026
First quarter Core Revenues* of $79.5 million increased 15% over the prior-year period
First quarter net income of $8.0 million increased from net income of $2.6 million a year ago.
EPS of $0.20 per share increased 122% and Adjusted EPS* of $0.37 per share increased 45%, over the prior-year period
Net income margin for the first quarter was 9%
Adjusted EBITDA* of $24.4 million increased 57% from $15.5 million in the prior-year period
Adjusted EBITDA Margin* increased 6 percentage points over the prior-year period to 26%
Total written premiums placed for the first quarter increased 13% over the prior-year period to $1.1 billion
Policies in force grew 14% from the prior-year period to approximately 1,973,000
Corporate agent headcount of 482 increased 13% compared to the prior-year period
Total franchise producers of 2,150 increased 3% from the prior-year period
*Core Revenue, Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are non-GAAP measures. Reconciliations of Core Revenue to total revenues, Adjusted EPS to basic earnings per share and Adjusted EBITDA to net income, the most directly comparable financial measures presented in accordance with GAAP, are set forth in the reconciliation table accompanying this release.
"This quarter we took another leap forward in building out our industry leading digital distribution platform. Our Digital Agent 2.0, which first launched with the capability of digitally binding multiple auto carriers in Texas, has now officially expanded to include multiple homeowners products." said Mark Miller, CEO. "We believe it is a game changer that we have the first end-to-end digital insurance marketplace in the United States. We've also made significant progress in further deploying AI into our business in ways that generate real efficiency gains, which we are reinvesting back into further enhancing the client experience and driving long term sustainable growth. We look forward to executing our technology roadmap and delivering strong financial results in the quarters to come."
First Quarter 2026 ResultsFor the first quarter of 2026, revenues were $93.1 million, an increase of 23% compared to the corresponding period in 2025. Core Revenues, a non-GAAP measure which excludes contingent commissions, initial franchise fees, interest income, and other franchise revenues, were $79.5 million, a 15% increase from $69.1 million in the prior-year period. Core Revenues are the most reliable revenue stream for the Company, consisting of New Business Commissions, Agency Fees, New Business Royalty Fees, Renewal Commissions, and Renewal Royalty Fees. Core Revenue growth was primarily driven by an increase in policies in their renewal term, assisted by Client Retention of 85%, as well as more new policies written, driven by an increase in the number of Corporate and Franchise sales agents and growth in Franchise productivity. The Company grew total written premiums, which we consider to be the leading indicator of future revenue growth, by 13% in the first quarter compared to the corresponding period in prior year.
Total operating expenses for the first quarter of 2026 were $78.1 million, up from $69.0 million in the prior-year period. Total operating expenses, excluding equity-based compensation, depreciation and amortization, impairment and other gains and losses* for the first quarter of 2026 were $68.7 million, up 14% from $60.1 million in the prior-year period. Employee compensation and benefits increased to $50.5 million from $48.3 million in the prior-year period. Employee compensation and benefits, excluding equity-based compensation* increased to $44.3 million from $42.1 million in the prior-year period. The increases were primarily due to investments in corporate producers and technology functions. Equity-based compensation remained flat at $6.2 million for the period, compared to $6.2 million in the prior-year period. General and administrative expenses increased to $24.0 million from $17.6 million in the prior-year period. General and administrative expenses, excluding impairment and other gains and losses*, increased to $24.0 million from $17.6 million primarily due to investments in technology, including AI technologies, and professional services to drive growth and continue to improve the client experience. Bad debt expense of $0.4 million remained flat compared to the prior-year period.
Net income in the first quarter of 2026 was $8.0 million versus net income of $2.6 million in the prior-year period. Earnings per share and Net Income Margin for the first quarter of 2026 were $0.20 and 9%, respectively. Adjusted EPS for the first quarter of 2026, which excludes equity-based compensation, impairment expense, and other gains and losses, was $0.37 per share. Total Adjusted EBITDA was $24.4 million for the first quarter of 2026 compared to $15.5 million in the prior-year period. Adjusted EBITDA Margin of 26% increased 6 percentage points in the quarter.
*Total operating expenses, excluding equity-based compensation, depreciation and amortization, impairment and other gains and losses; Employee compensation and benefits, excluding equity-based compensation; and General and administrative expenses, excluding impairment and other gains and losses are non- GAAP measures. For the definition and reconciliation of each non-GAAP measure, see "Reconciliation of Non-GAAP Measures to GAAP" below.
Liquidity and Capital ResourcesAs of March 31, 2026, the Company had cash and cash equivalents of $25.7 million. We have a line of credit of $75.0 million, of which $26.0 million was drawn as of March 31, 2026. Total outstanding term note payable balance was $297.8 million as of March 31, 2026. During the quarter ended March 31, 2026, the Company repurchased and retired 985 thousand shares at an average share price of $50.54. As of March 31, 2026, $148.5 million remained available under the share repurchase authorization.
2026 OutlookOur guidance for the full year 2026 is as follows:
Total revenues are expected to grow organically between 10% and 19%.
Total written premiums are expected grow between 12% and 20%.
Conference Call InformationGoosehead will host a conference call and webcast today at 4:30 PM ET to discuss these results.
To access the call by phone, participants should go to this link (registration link), and you will be provided with the dial in details.
In addition, a live webcast of the conference call will also be available on Goosehead's investor relations website at http://ir.gooseheadinsurance.com.
A webcast replay of the call will be available at http://ir.gooseheadinsurance.com for one year following the call.
About GooseheadGoosehead (NASDAQ:GSHD) is a rapidly growing and innovative independent personal lines insurance agency that distributes its products and services through corporate and franchise locations throughout the United States. Goosehead was founded on the premise that the consumer should be at the center of our universe and that everything we do should be directed at providing extraordinary value by offering broad product choice and a world-class service experience. Goosehead represents over 200 insurance companies that underwrite personal and commercial lines. For more information, please visit goosehead.com or goosehead.com/become-a-franchisee.
Forward-Looking StatementsThis press release may contain various "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which represent Goosehead's expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Goosehead's strategies or expectations. In some cases, you can identify these statements by forward-looking words such as "may", "might", "will", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "projects", "potential", "outlook" or "continue", or the negative of these terms or other comparable terminology. Forward-looking statements are based on management's current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.
Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, conditions impacting insurance carriers or other parties with which Goosehead does business, the loss of one or more key executives or an inability to attract and retain qualified personnel and the failure to attract and retain highly qualified franchisees. These risks and uncertainties also include, but are not limited to, those described under the captions "1A. Risk Factors" in Goosehead's Annual Report on Form 10-K for the year ended December 31, 2025 and in Goosehead's other filings with the SEC, which are available free of charge on the Securities Exchange Commission's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Goosehead or to persons acting on behalf of Goosehead are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Goosehead does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.
ContactsInvestor Contacts:Maddie MiddletonGoosehead Insurance - Senior Director of Investor RelationsPhone: (972) 800-1993Email: [email protected]; [email protected];
PR Contact:Mission North for Goosehead InsuranceEmail: [email protected]; [email protected]
Goosehead Insurance, Inc.
Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended March 31,
2026
2025
Revenues:
Commissions and agency fees
$
38,685
$
29,423
Franchise revenues
54,274
45,971
Interest income
117
189
Total revenues
93,076
75,583
Operating Expenses:
Employee compensation and benefits
50,527
48,334
General and administrative expenses
23,969
17,559
Bad debts
373
406
Depreciation and amortization
3,212
2,670
Total operating expenses
78,081
68,969
Income from operations
14,995
6,614
Other Income:
Interest expense
(5,472
)
(5,823
)
Other income
267
168
Income before taxes
9,790
959
Tax expense (benefit)
1,745
(1,687
)
Net Income
8,045
2,646
Less: net income attributable to noncontrolling interests
3,156
304
Net Income attributable to Goosehead Insurance, Inc.
$
4,889
$
2,342
Earnings per share:
Basic
$
0.20
$
0.09
Diluted
$
0.19
$
0.09
Weighted average shares of Class A common stock outstanding:
Basic
24,269
24,791
Diluted
36,640
25,943
Goosehead Insurance, Inc.
Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended March 31,
2026
2025
Revenues:
Core Revenue:
Renewal Commissions(1)
$
18,162
$
16,952
Renewal Royalty Fees(2)
43,594
37,244
New Business Commissions(1)
7,452
5,755
New Business Royalty Fees(2)
7,886
6,929
Agency Fees(1)
2,385
2,240
Total Core Revenue
79,479
69,120
Cost Recovery Revenue:
Initial Franchise Fees(2)
1,609
1,342
Interest Income
117
189
Total Cost Recovery Revenue
