Goosehead Insurance, Inc.

Listed Company

GSHDCIK 0001726978NasdaqLarge AcceleratedInsurance Agents, Brokers & ServiceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$365.30M

Net Income

$27.83M

Total Assets

$414.86M

Equity

$-95.50M

Shares Out

21.15M

Op. Cash Flow

$91.76M

Business

Goosehead Insurance, Inc. is an independent insurance agency that distributes personal lines insurance through a franchised and corporate agent network and a proprietary digital platform. It offers home, auto, umbrella, flood, recreational and related personal lines products, along with agency fees and royalty revenue from franchise operations. The company operates two primary business segments—corporate sales (company-owned agents and sales offices) and franchise sales (franchised agencies)—supported by centralized service centers and technology. Goosehead sells across the United States through its Digital Agent, corporate agents, franchisees and carrier partnerships.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	365	315	261	209	151
Employee compensation and benefits	196	173	153	133	95
General and administrative expenses	81	67	62	53	40
Bad debts	2	3	4	6	3
Depreciation and amortization	11	10	9	7	5
Total operating expenses	291	253	228	199	143
Income from operations	74	61	33	10	9
Interest expense	−24	−7	−7	−5	—
Other income (expense)	192,000	−7	0	0	—
Income before taxes	51	47	26	5	6
Tax expense (benefit)	6	−2	3	2	−2
Net Income	44	49	24	3	8
Less: net income attributable to noncontrolling interests	17	19	10	2	3
Net Income attributable to Goosehead Insurance, Inc.	28	30	14	565,000	5
Basic (in dollars per share)	1.11	1.23	0.59	0.03	0.28
Diluted (in dollars per share)	1.04	1.16	0.55	0.03	0.26
Basic (in shares)	25	25	24	21	19
Diluted (in shares)	38	38	38	22	21

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	34	54	42	29	29
Restricted cash	4	4	2	2	2
Commissions and agency fees receivable, net	37	31	13	14	12
Receivable from franchisees, net	11	11	10	5	3
Prepaid expenses	8	8	8	4	5
Total current assets	93	109	75	54	50
Receivable from franchisees, net of current portion	3	3	9	24	29
Property and equipment, net of accumulated depreciation	22	24	30	35	25
Right-of-use asset	34	37	38	44	33
Intangible assets, net of accumulated amortization	40	25	17	4	3
Deferred income taxes, net	216	193	181	155	126
Other assets	7	6	4	4	5
Total assets	415	398	355	321	270
Accounts payable and accrued expenses	34	23	16	16	13
Premiums payable	4	4	2	2	2
Lease liability	9	7	9	7	5
Contract liabilities	3	3	4	6	6
Note payable	3	10	9	7	4
Liabilities under tax receivable agreement	6	0	—	—	—
Total current liabilities	58	46	41	37	30
Lease liability, net of current portion	51	55	57	65	47
Note payable, net of current portion	289	82	68	87	118
Contract liabilities, net of current portion	13	15	23	41	43
Liabilities under tax receivable agreement, net of current portion	166	160	149	126	—
Total liabilities	578	359	338	355	339
Commitments and contingencies (see notes 9, 15, and 17)	—	—	—	—	—
Additional paid-in capital	37	59	73	71	46
Accumulated deficit	−133	−15	−46	−61	−61
Total stockholders' equity	−96	44	28	11	−14
Noncontrolling interests	−67	−5	−11	−44	−55
Total equity	−163	39	17	−34	−69
Total liabilities and equity	415	398	355	321	270

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	11	11	9	7	5
Amortization of debt discounts and issuance costs	1	420,000	225,000	—	—
(Gain) loss on disposal of fixed assets	−189,000	74,000	0	—	—
Loss on debt extinguishment	804,000	0	0	—	—
Impairment expense	5	347,000	4	0	0
Equity-based compensation	23	28	24	20	7
Adjustments to tax receivable agreement liability	516,000	9	24	25	39
Deferred income taxes	6	−4	−22	−22	−43
Noncash lease expense	−2	−4	−748,000	2	6
Cloud computing arrangement implementation costs	−657,000	−1	−85,000	0	0
Receivable from franchisees	104,000	4	8	−722,000	−12
Commissions and agency fees receivable	−6	−20	−28,000	−5	5
Prepaid expenses	588,000	−250,000	−4	451,000	−1
Other assets	966,000	827,000	486,000	548,000	−805,000
Accounts payable and accrued expenses	7	5	−109,000	3	4
Contract liabilities	−2	−9	−19	−2	14
Net cash provided by operating activities	92	72	51	36	35
Issuance of notes receivable to franchisees	−125,000	−325,000	−130,000	0	—
Proceeds from notes receivable to franchisees	303,000	94,000	0	43,000	32,000
Capitalized software development costs	−13	−11	−8	−2	−3
Cash consideration paid for asset acquisitions	−5	0	−7	0	0
Cash paid for asset disposals	−32,000	0	0	—	—
Purchase of property and equipment	−6	−979,000	−4	−10	−13
Net cash used for investing activities	−24	−12	−19	−13	−15
Customer premiums, net	−481,000	994,000	−75,000	−309,000	—
Debt issuance cost	−8	−621,000	0	0	−666,000
Repayment of notes payable	−102	−9	−17	−4	−4
Proceeds from notes payable	306	25	0	0	25
Proceeds from the issuance of Class A common stock	14	12	10	6	5
Repurchases of Class A common stock	−82	−63	0	0	—
Member distributions	−64	−5	−11	0	0
Payments pursuant to tax receivable agreement	−7	−5	0	0	—
Dividends to stockholders	−146	0	0	0	−60
Net cash used for financing activities	−88	−45	−18	−24	−16
Net increase (decrease) in cash and cash equivalents, and restricted cash	−20	14	14	−92,000	4
Cash paid during the year for interest	22	7	6	5	2
Cash paid for income taxes	929,000	631,000	701,000	484,000	272,000
Cash paid pursuant to tax receivable agreement	7	5	421,000	—	—

Filings

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