SelectQuote Inc ( (SLQT) ) has released its Q1 earnings. Here is a breakdown of the information SelectQuote Inc presented to its investors.
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SelectQuote, Inc., a key player in the insurance brokerage industry, specializes in offering consumers a variety of insurance options, focusing on Medicare Advantage and life insurance policies. In its latest financial report for the first quarter of fiscal year 2025, SelectQuote announced a significant increase in revenue to $292.3 million, up from $232.7 million in the same quarter of the previous year. However, the company reported a net loss of $44.5 million, reflecting a higher loss compared to the $31.1 million in the previous year. On a positive note, the company showed improvement in its Adjusted EBITDA, which stood at $(1.7) million, an improvement from $(11.4) million a year earlier.
Key highlights from the report include the performance of SelectQuote’s segments. The Senior segment reported revenue of $92.9 million and an Adjusted EBITDA of $7.7 million, with significant growth in approved Medicare Advantage policies. The Healthcare Services segment saw a substantial 60% revenue increase to $155.7 million and improved Adjusted EBITDA of $4.9 million, driven by a 64% growth in SelectRx membership. Meanwhile, the Life segment recorded a modest revenue increase to $39.3 million, with an Adjusted EBITDA of $6.0 million, largely supported by growth in final expense premiums.
SelectQuote’s management remains optimistic about the company’s trajectory, with revenue for the fiscal year 2025 expected to range between $1.425 billion and $1.525 billion. The company is also focusing on enhancing its capital flexibility and expanding its Healthcare Services platform. The strategic initiatives are aimed at improving their market position and delivering value to a growing customer base.
Looking ahead, SelectQuote is poised to continue leveraging its holistic healthcare platform to meet the needs of its consumers, particularly in the Medicare Advantage space. The management is focused on maintaining momentum through strategic growth initiatives while navigating the challenges of the insurance industry landscape.
