Goosehead Insurance, Inc. announced its third quarter results for 2024, reporting a 10% increase in total revenue to $78.0 million compared to the prior year period. Core Revenue, a key non-GAAP measure, grew by 16% to $73.5 million, driven by improved franchise productivity, increased corporate agent headcount, and rising premium rates. The company achieved a significant milestone by generating over $1 billion in total written premium in a single quarter, marking a 28% increase over the prior year.
Net income for the quarter rose to $12.6 million from $11.3 million a year ago, with Adjusted EBITDA increasing to $26.1 million from $22.4 million in the prior-year period. This resulted in an Adjusted EBITDA Margin of 34%, an expansion from 32% in the year-ago quarter, reflecting operational efficiency. Client retention levels stabilized at 84% despite ongoing market challenges.
The company raised its full-year 2024 guidance, anticipating continued strong momentum and faster growth in 2025 and beyond. Management expressed satisfaction with the organization's accomplishments, attributing success to its exceptional people and industry-leading technology, positioning Goosehead for future growth.
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