← SelectQuote, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | $34.9m | $72.6m | $81.1m | $131.0m | ($297.5m) | ($58.5m) | ($34.1m) | $47.6m | |
| Depreciation and amortization | $3.5m | $4.7m | $8.0m | $16.1m | $24.7m | $27.9m | $25.0m | $20.5m | |
| Amortization of debt issuance costs and debt discount | $70k | $123k | $2.3m | $3.3m | $5.5m | $8.7m | $6.1m | $5.2m | |
| Deferred income taxes | $6.6m | $22.0m | $25.0m | $34.7m | ($92.7m) | ($11.2m) | $1.2m | $1.8m | |
| Impairment of long-lived assets | — | — | $0 | $0 | $3.1m | $17.3m | $0 | $4.2m | |
| Share-based compensation expense | $67k | $86k | $9.5m | $5.2m | $7.1m | $11.3m | $13.8m | $18.4m | |
| Loss on disposal of property, equipment, and software | $700k | $221k | $360k | $686k | $1.5m | $754k | $536k | $240k | |
| Operating lease liabilities | — | $0 | $0 | ($3.8m) | ($5.1m) | ($5.6m) | ($4.9m) | ($4.7m) | |
| Accrued interest payable in kind | — | — | — | $0 | $0 | $12.0m | $19.6m | $14.0m | |
| Change in fair value of warrants | — | — | — | — | — | $0 | $0 | ($59.5m) | |
| Non-cash lease expense | — | $0 | $0 | $3.8m | $4.1m | $4.2m | $2.3m | $3.9m | |
| Bad debt expense | — | — | — | — | — | $0 | $0 | $4.2m | |
| Accounts receivable, net | ($6.3m) | ($8.7m) | ($15.6m) | ($27.8m) | ($25.7m) | ($24.8m) | $5.2m | ($5.6m) | |
| Commissions receivable | ($46.4m) | ($91.6m) | ($197.4m) | ($332.9m) | $7.3m | ($1.9m) | ($40.8m) | ($69.5m) | |
| Other assets | $389k | ($3.0m) | ($3.4m) | $4.8m | ($10.9m) | $169k | ($2.0m) | ($6.3m) | |
| Accounts payable and accrued expenses | $3.1m | $2.8m | $15.7m | $19.7m | ($4.5m) | ($3.6m) | $7.3m | $19.2m | |
| Other liabilities | ($1.5m) | $947k | $12.0m | $25.6m | $401k | $3.3m | $15.6m | ($5.5m) | |
| Purchases of property and equipment | ($5.4m) | ($3.9m) | ($9.4m) | ($14.9m) | ($24.8m) | ($1.4m) | ($3.4m) | ($2.2m) | |
| Proceeds from sales of property and equipment | $0 | $0 | $3k | $0 | $0 | $0 | $253k | $0 | |
| Purchases of software and capitalized software development costs | ($624k) | ($4.7m) | ($6.1m) | ($8.1m) | ($9.9m) | ($7.7m) | ($8.3m) | ($9.1m) | |
| Acquisition of business | $0 | $0 | ($35.8m) | ($41.0m) | ($6.9m) | $0 | ($3.4m) | $0 | |
| Proceeds from Revolving Credit Facility | $91.3m | $135.6m | $88.0m | $0 | $50.0m | $0 | $0 | $166.9m | |
| Payments on Revolving Credit Facility | ($76.0m) | ($144.3m) | ($99.0m) | $0 | ($50.0m) | $0 | $0 | ($166.9m) | |
| Payments on Term Loans | ($2.0m) | ($1.4m) | ($31.4m) | ($251k) | ($3.6m) | ($17.8m) | ($38.9m) | ($388.2m) | |
| Proceeds on ABS Notes | — | — | — | — | — | $0 | $0 | $99.1m | |
| Payments on ABS Notes | — | — | — | — | — | $0 | $0 | ($16.6m) | |
| Proceeds from issuance of Senior Non-Convertible Preferred Stock | — | — | — | — | — | $0 | $0 | $337.9m | |
| Senior Non-Convertible Preferred Stock issuance costs | $0 | $0 | ($7.0m) | ($5.7m) | $0 | $0 | $0 | ($7.1m) | |
| Payments of tax withholdings related to net share settlement of equity awards | — | $0 | $0 | ($10.4m) | ($148k) | ($40k) | ($374k) | ($5.0m) | |
| Payment of acquisition holdback | — | — | $0 | $0 | ($5.5m) | ($2.4m) | $0 | $0 | |
| Payment of income taxes, net | ($35k) | ($40k) | $64k | ($214k) | ($169k) | ($306k) | ($594k) | ($3.2m) | |
| Capital expenditures in accounts payable and accrued expenses | $373k | $250k | $241k | $444k | $655k | $273k | $1.7m | $586k | |
| Issuance of liability-classified warrants | — | — | — | — | — | $0 | $0 | $137.6m | |
| Senior Non-Convertible Preferred Stock accretion | — | — | — | — | — | $0 | $0 | $5.5m | |
| Net cash provided by (used in) operating activities | ($4.8m) | $113k | ($61.8m) | ($115.4m) | ($338.3m) | ($19.4m) | $15.2m | ($11.7m) | |
| Net cash used in investing activities | ($6.0m) | ($8.6m) | ($51.4m) | ($64.0m) | ($42.6m) | ($9.1m) | ($14.8m) | ($11.3m) | |
| Write-off of debt issuance costs | $0 | $0 | $237k | $2.6m | $0 | $710k | $293k | $93k | |
| Payments of debt issuance costs | ($103k) | ($258k) | ($7.9m) | ($885k) | ($328k) | ($10.1m) | ($1.5m) | ($2.5m) | |
| Payments on other debt | — | — | ($31.4m) | ($251k) | ($184k) | ($158k) | ($149k) | ($312k) | |
| Proceeds from common stock options exercised and employee stock purchase plan | $565k | $4.3m | $5.5m | $1.9m | $3.2m | $1.2m | $81k | $98k | |
| Senior Non-Convertible Preferred Stock accumulated dividends | — | — | — | — | — | $0 | $0 | $17.1m | |
| Net cash provided by (used in) financing activities | $11.5m | $8.1m | $481.4m | $97.0m | $235.4m | ($29.3m) | ($40.9m) | $17.4m | |
| NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | $616k | ($388k) | $368.3m | ($82.4m) | ($145.5m) | ($57.8m) | ($40.5m) | ($5.6m) | |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period | $958k | $570k | $368.9m | $286.5m | $141.0m | $83.2m | $42.7m | $37.1m | |
| Interest paid, net | ($786k) | ($1.5m) | ($23.5m) | ($26.0m) | ($38.0m) | ($59.0m) | ($67.0m) | ($60.6m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.