← Hagerty, Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|
| REVENUE: | |||||||
| Revenue from contract with customer, including finance revenue, excluding assessed tax | — | — | $384.5m | $468.3m | $556.7m | $568.8m | |
| Earned premium, net | $220.5m | $295.8m | $403.1m | $531.9m | $643.3m | $726.7m | |
| Marketplace revenue | — | — | — | $28.1m | $54.5m | $119.2m | |
| Net investment income | — | — | — | $26.9m | $39.2m | $38.6m | |
| Net investment gains | — | — | — | $0 | $2.2m | $3.1m | |
| Ceding commissions, net | $106.0m | $141.0m | $191.2m | $251.8m | $301.7m | $337.1m | |
| Salaries and benefits | $137.5m | $171.9m | $199.5m | $216.9m | $221.5m | $263.6m | |
| Depreciation and amortization | $11.8m | $22.1m | $33.9m | $45.8m | $38.9m | $37.5m | |
| Restructuring, impairment and related charges, net | — | $0 | $18.3m | $8.8m | $0 | $0 | |
| Gains, losses, and impairments related to divestitures | — | $0 | $0 | $4.0m | ($87k) | $0 | |
| Loss (gain) related to warrant liabilities, net | — | — | $41.9m | $11.5m | ($8.5m) | $0 | |
| Income tax benefit | ($4.8m) | ($6.8m) | ($7.0m) | ($16.6m) | ($15.4m) | $10.0m | |
| Accretion of Series A Convertible Preferred Stock | — | $0 | $0 | ($3.7m) | ($7.4m) | ($7.6m) | |
| INCOME BEFORE TAXES | $14.9m | ($54.6m) | $44.8m | $93.7m | $139.2m | ||
| NET INCOME | $10.0m | ($61.4m) | $2.4m | $28.2m | $78.3m | $149.2m | |
| Net income attributable to non-controlling interest | $127k | $398k | $29.7m | ($7.9m) | ($61.3m) | ($100.2m) | |
| NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCKHOLDERS | $10.2m | ($46.4m) | $32.1m | $16.6m | $9.6m | $41.5m | |
| Basic (in dollars per share) | $1.27 | ($0.75) | $0.03 | $0.33 | $0.89 | $1.58 | |
| Diluted (in dollars per share) | $1.27 | ($0.75) | $0.01 | $0.08 | $0.88 | $0.43 | |
| Losses and loss adjustment expenses | $91.0m | $122.1m | $182.4m | $220.7m | $298.6m | $285.4m | |
| Sales expense | $86.2m | $107.5m | $140.8m | $156.4m | $190.5m | $258.2m | |
| General and administrative expenses | $51.2m | $64.6m | $89.1m | $85.4m | $82.5m | $94.5m | |
| Interest expense and other, net | ($987k) | ($2.0m) | $2.0m | $22.8m | $35.8m | $40.9m | |
| Total expenses | $483.7m | $629.1m | $855.2m | $989.8m | $1.1b | $1.3b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.