← Hagerty, Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $38.1m | $275.3m | $95.2m | $108.3m | $104.8m | $160.2m | |
| Restricted cash and cash equivalents | $261.0m | $328.6m | $444.0m | $616.0m | $128.1m | $138.8m | |
| Accounts receivable | $33.9m | $46.7m | $58.3m | $71.5m | $84.8m | $96.2m | |
| Commissions receivable | — | — | — | $79.1m | $20.4m | $28.9m | |
| Premiums receivable | $52.6m | $75.3m | $100.7m | $137.5m | $153.7m | $180.5m | |
| Prepaid reinsurance premiums | — | — | — | — | $18.5m | $21.9m | |
| Notes receivable | — | $0 | $11.9m | $17.0m | $11.6m | $113.9m | |
| Tax receivable agreement liability | — | — | — | — | $2.2m | $39.8m | |
| Intangible assets, net | $46.6m | $76.2m | $104.0m | $91.9m | $90.1m | $88.9m | |
| Goodwill | $4.7m | $11.5m | $115.0m | $114.2m | $114.1m | $114.2m | |
| Other assets | — | — | — | — | $179.9m | $181.7m | |
| Fixed maturity securities | — | — | — | — | $577.7m | $696.3m | |
| Equity securities | — | — | — | — | $11.8m | $34.9m | |
| Deferred acquisition costs, net | $58.6m | $81.5m | $107.3m | $141.6m | $156.5m | $179.2m | |
| Reinsurance recoverables | — | — | — | — | $11.9m | $15.3m | |
| Deferred income tax assets | — | — | — | — | $0 | $43.0m | |
| Advance premiums and due to insurers | — | — | — | $100.3m | $108.4m | $123.2m | |
| Losses payable | $22.0m | $34.5m | $55.5m | $62.0m | $98.4m | $95.4m | |
| Reserves for unpaid losses and loss adjustment expenses | $55.0m | $74.9m | $111.7m | $136.5m | $168.5m | $168.9m | |
| Unearned premiums | $124.7m | $175.2m | $235.5m | $317.3m | $357.5m | $412.1m | |
| Ceding commissions payable | $43.8m | $60.6m | $77.1m | $108.7m | $77.4m | $86.2m | |
| Debt, net | $69.0m | $135.5m | $108.3m | $130.7m | $105.0m | $177.9m | |
| Contract liabilities | $19.7m | $19.7m | $19.2m | $17.3m | $15.3m | $46.5m | |
| Other liabilities | — | — | — | — | $58.9m | $61.7m | |
| Non-controlling interest | $123k | $1.3m | $308.1m | $317.8m | $373.2m | $439.1m | |
| Total investments | — | — | — | — | $589.5m | $731.1m | |
| Total equity (Note 20) | $117.3m | ($322.5m) | $367.4m | $410.5m | $523.5m | $660.4m | |
| TOTAL ASSETS | $610.7m | $1.0b | $1.3b | $1.6b | $1.7b | $2.1b | |
| Accounts payable and accrued expenses | — | — | $77.0m | $87.2m | $73.4m | $111.9m | |
| Deferred tax liability | — | $10.5m | $12.8m | $15.9m | $18.1m | $23.5m | |
| TOTAL LIABILITIES | $493.4m | $771.1m | $945.1m | $1.1b | $1.1b | $1.3b | |
| Commitments and Contingencies (Note 25) | — | — | $0 | $0 | $0 | $0 | |
| Preferred stock, $0.0001 par value (20,000,000 shares authorized, 8,483,561 Series A Convertible Preferred Stock issued and outstanding as of December 31, 2025 and December 31, 2024) | — | 0 | 0 | 82.8m | 84.7m | 86.6m | |
| Common stock | — | $33k | $33k | $33k | $34k | $34k | |
| Additional paid-in capital | — | $160.2m | $549.0m | $561.8m | $603.8m | $623.0m | |
| Accumulated earnings (deficit) | $56.8m | ($482.3m) | ($489.6m) | ($469.0m) | ($452.0m) | ($403.0m) | |
| Accumulated other comprehensive income (loss) | ($2.0m) | ($1.7m) | ($213k) | ($88k) | ($1.5m) | $1.2m | |
| Total stockholders' equity | $117.2m | ($323.8m) | $59.3m | $92.7m | $150.3m | $221.3m | |
| TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY | $610.7m | $1.0b | $1.3b | $1.6b | $1.7b | $2.1b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.