Hagerty Inc Class A ( (HGTY) ) has released its Q4 earnings. Here is a breakdown of the information Hagerty Inc Class A presented to its investors.
Hagerty, Inc. is a prominent automotive enthusiast brand and specialty vehicle insurance provider, known for its commitment to preserving car culture and offering a wide range of automotive services, including insurance, car valuation, and auctions. In 2024, Hagerty reported a robust financial performance with a 20% increase in total revenue, reaching $1.2 billion, and a significant 178% rise in net income to $78.3 million. The company added a record 279,000 new members and saw a 90% increase in marketplace revenue. Operating income surged by 538%, reflecting the company’s strategic focus on efficiency and growth. Looking ahead to 2025, Hagerty anticipates continued growth with projected revenue increases of 12-13% and net income growth of 30-40%, driven by technological investments and expanded insurance offerings. With a strong foundation and strategic initiatives in place, Hagerty is poised for sustained growth and profitability in the coming years.