{"success":true,"data":{"pressRelease":{"id":"95772","rtpr_id":"nGNXpxgYK","ticker":"GSHD","exchange":"NASDAQ","all_tickers":["GSHD"],"title":"Goosehead Insurance, Inc. Announces Second Quarter 2026 Results","author":"Globe Newswire","published_at":"2026-07-22T20:05:07.885Z","article_body":"– Total Revenue Increased 21% and Core Revenue* Grew 10% over the\nPrior-Year Period –\n– Total Written Premium increased 14% to $1.34 billion over the Prior-Year\nPeriod –\n– Net Income of $17.0 million versus Net Income of $8.3 million a year ago\n–\n– Adjusted EBITDA* up 30% over Prior-Year Period to $37.9 million –\n– Policies in force growth accelerated to 15% from 14% in the Prior Quarter\n–\n\nWESTLAKE, Texas, July 22, 2026 (GLOBE NEWSWIRE) -- Goosehead Insurance, Inc.\n(“Goosehead” or the “Company”) (NASDAQ: GSHD), a rapidly growing\nindependent personal lines insurance agency, today announced results for the\nsecond quarter ended June 30, 2026.\n\nSecond Quarter 2026 Highlights\n* Total Revenues grew 21% over the prior-year period to $113.4 million in the\nsecond quarter of 2026\n* Second quarter Core Revenues* of $95.6 million increased 10% over the\nprior-year period\n* Second quarter net income of $17.0 million increased from net income of $8.3\nmillion a year ago\n* EPS of $0.42 per share increased 106% and Adjusted EPS* of $0.64 per share\nincreased 32%, over the prior-year period\n* Net income margin for the second quarter was 15%\n* Adjusted EBITDA* of $37.9 million increased 30% from $29.2 million in the\nprior-year period\n* Adjusted EBITDA Margin* increased 2 percentage points over the prior-year\nperiod to 33%\n* Total written premiums placed for the second quarter increased 14% over the\nprior-year period to $1.34 billion\n* Policies in force grew 15% from the prior-year period to approximately 2.1\nmillion\n* Corporate agent headcount of 583 increased 22% compared to the prior-year\nperiod\n* Total franchise producers of 2,190 increased 5% from the prior-year period\n(*)Core Revenue, Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are\nnon-GAAP measures. Reconciliations of Core Revenue to total revenues, Adjusted\nEPS to basic earnings per share and Adjusted EBITDA to net income, the most\ndirectly comparable financial measures presented in accordance with GAAP, are\nset forth in the reconciliation table accompanying this release.\n\n“Today we are proud to announce our second quarter results which reflect\naccelerating momentum across our entire business,” said Mark Miller, CEO.\n“We delivered strong new business growth in every channel while improving\nclient retention, accelerating premium and policy in force growth rates, and\nincreasing productivity. Our distribution force is healthier than ever, our\ntechnology continues to evolve at a significant pace, and the product market\nis more favorable than it has been in years. We believe Goosehead is\nwell-positioned for continued durable growth and profitability.”\n\nSecond Quarter 2026 Results\nFor the second quarter of 2026, total revenues were $113.4 million, an\nincrease of 21% compared to the corresponding period in 2025. Core Revenues, a\nnon-GAAP measure which excludes contingent commissions, initial franchise\nfees, interest income, and other franchise revenues, were $95.6 million, a 10%\nincrease from $86.8 million in the prior-year period. Core Revenues are the\nmost reliable revenue stream for the Company, consisting of New Business\nCommissions, Agency Fees, New Business Royalty Fees, Renewal Commissions, and\nRenewal Royalty Fees. Core Revenue growth was driven primarily by more\npolicies in their renewal term, supported by an 86% Client Retention rate, and\nby more new policies placed, driven by growth in the number of Corporate and\nFranchise sales agents and improved Franchise productivity. This was partially\noffset by the prior-year recognition of $3.0 million of Renewal Commissions\nand $1.0 million of Renewal Royalty Fees tied to the release of a constraint\non variable consideration for policies placed in earlier periods. The Company\ngrew total written premiums, which we consider to be the leading indicator of\nfuture revenue growth, by 14% in the second quarter compared to the\ncorresponding period in prior year.\n\nTotal operating expenses for the second quarter of 2026 were $86.8 million, up\nfrom $78.4 million in the prior-year period. Adjusted total operating\nexpenses* for the second quarter of 2026 were $75.4 million, up 16% from $64.9\nmillion in the prior-year period. Employee compensation and benefits increased\nto $54.3 million from $50.4 million in the prior-year period. Adjusted\nemployee compensation and benefits* increased to $49.6 million from $44.4\nmillion in the prior-year period. The increases were primarily due to\ninvestments in corporate producers and technology functions. Equity-based\ncompensation decreased to $4.8 million for the period, compared to $6.0\nmillion in the prior-year period. General and administrative expenses\nincreased to $28.4 million from $24.6 million in the prior-year period.\nAdjusted general and administrative expenses*, increased to $25.4 million from\n$20.0 million primarily due to investments in technology and professional\nservices to drive growth and continue to improve the client experience. Bad\ndebt expense of $0.5 million decreased compared to the prior-year period.\n\nNet income in the second quarter of 2026 was $17.0 million versus net income\nof $8.3 million in the prior-year period. Earnings per share and Net Income\nMargin for the second quarter of 2026 were $0.42 and 15%, respectively.\nAdjusted EPS* for the second quarter of 2026 was $0.64 per share. Total\nAdjusted EBITDA* was $37.9 million for the second quarter of 2026 compared to\n$29.2 million in the prior-year period. Adjusted EBITDA Margin* of 33%\nincreased 2 percentage points in the quarter. \n*Adjusted total operating expenses, adjusted employee compensation and\nbenefits, adjusted general and administrative expenses, adjusted EPS, adjusted\nEBITDA, and adjusted EBITDA Margin are non-GAAP measures. For the definition\nand reconciliation of each non-GAAP measure, see “Reconciliation of Non-GAAP\nMeasures to GAAP” below.\n\nLiquidity and Capital Resources\nAs of June 30, 2026, the Company had cash and cash equivalents of $23.7\nmillion. We have a line of credit of $75.0 million, of which $26.0 million was\ndrawn as of June 30, 2026. Total outstanding notes payable was $323.0 million\nas of June 30, 2026. During the quarter ended June 30, 2026, the Company\nrepurchased and retired 95 thousand shares at an average share price of\n$40.95. As of June 30, 2026, $144.6 million remained available under the share\nrepurchase authorization.\n\n2026 Outlook\nWe have increased our guidance for the full year 2026 as follows:\n* Total revenues are now expected to grow organically between 12% and 19%.\n* Total written premiums are expected to grow between 12% and 20%.\nConference Call Information\nGoosehead will host a conference call and webcast today at 4:30 PM ET to\ndiscuss these results.\n\nTo access the call by phone, participants should go to this link (registration\nlink\n(https://www.globenewswire.com/Tracker?data=RhLCVw2_AiUfT5eJibkhVCFc1KN-t4Hmw5MK8dJMSXll9lZD_CLXDUv6yxjWn7QYQ91fWnBTu7_BQ4ObGqiOjmKrFaQPkTy97Itk84aRybOWFfLYxl1yBLHfNWBzjthGUbR0MmcXdWJEGeo6yzDhUGk_ZHmqQRzF0b1h3axvkBU4s1hQaBS7QnPt2H-27JUZkwvoAwnxgU4vImb9Ks0PnIJESnvNUm3oZsArDhsBm902_ZltTi1BtpIYo3UPlXDyFV50tpk7_6JF4_rpTdpoDw0My92miA75k91lJ6VzEOhQesm-Sx_Xdbbx-i_Lna3eAVxeQGUvCcKIE9Ypm-4n8cwaRp5I7P8GvF4vnrBNt0A=)),\nand you will be provided with the dial in details.\n\nIn addition, a live webcast of the conference call will also be available on\nGoosehead’s investor relations website at http://ir.gooseheadinsurance.com.\n\nA webcast replay of the call will be available at\nhttp://ir.gooseheadinsurance.com for one year following the call.\n\nAbout Goosehead\nGoosehead (NASDAQ: GSHD) is a rapidly growing and innovative independent\npersonal lines insurance agency that distributes its products and services\nthrough corporate and franchise locations throughout the United States.\nGoosehead was founded on the premise that the consumer should be at the center\nof our universe and that everything we do should be directed at providing\nextraordinary value by offering broad product choice and a world-class service\nexperience. Goosehead represents over 200 insurance companies that underwrite\npersonal and commercial lines. For more information, please visit\ngoosehead.com or goosehead.com/become-a-franchisee.\n\nForward-Looking Statements\nThis press release may contain various “forward-looking statements” within\nthe meaning of the Private Securities Litigation Reform Act of 1995, which\nrepresent Goosehead’s expectations or beliefs concerning future events.\nForward-looking statements are statements other than historical facts and may\ninclude statements that address future operating, financial or business\nperformance or Goosehead’s strategies or expectations. In some cases, you\ncan identify these statements by forward-looking words such as “may”,\n“might”, “will”, “should”, “expects”, “plans”,\n“anticipates”, “believes”, “estimates”, “predicts”,\n“projects”, “potential”, “outlook” or “continue”, or the\nnegative of these terms or other comparable terminology. Forward-looking\nstatements are based on management’s current expectations and beliefs and\ninvolve significant risks and uncertainties that could cause actual results,\ndevelopments and business decisions to differ materially from those\ncontemplated by these statements.\n\nFactors that could cause actual results or performance to differ from the\nexpectations expressed or implied in such forward-looking statements include,\nbut are not limited to, conditions impacting insurance carriers or other\nparties with which Goosehead does business, the loss of one or more key\nexecutives or an inability to attract and retain qualified personnel and the\nfailure to attract and retain highly qualified franchisees. These risks and\nuncertainties also include, but are not limited to, those described under the\ncaptions “1A. Risk Factors” in Goosehead’s Annual Report on Form 10-K\nfor the year ended December 31, 2025 and in Goosehead’s other filings with\nthe SEC, which are available free of charge on the Securities Exchange\nCommission's website at: www.sec.gov. Should one or more of these risks or\nuncertainties materialize, or should underlying assumptions prove incorrect,\nactual results may vary materially from those indicated. All forward-looking\nstatements and all subsequent written and oral forward-looking statements\nattributable to Goosehead or to persons acting on behalf of Goosehead are\nexpressly qualified in their entirety by reference to these risks and\nuncertainties. You should not place undue reliance on forward-looking\nstatements. Forward-looking statements speak only as of the date they are\nmade, and Goosehead does not undertake any obligation to update them in light\nof new information, future developments or otherwise, except as may be\nrequired under applicable law.\n\nContacts\nInvestor Contacts:\nMaddie Middleton\nGoosehead Insurance - Senior Director of Investor Relations\nPhone: (972) 800-1993\nEmail: madeline.middleton@goosehead.com; IR@goosehead.com\n\nPR Contact:\nMission North for Goosehead Insurance\nEmail: goosehead@missionnorth.com; PR@goosehead.com\n\n \n Goosehead Insurance, Inc. \n Condensed Consolidated Statements of Operations \n (Unaudited) \n (In thousands, except per share amounts) \n \n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Revenues: \n Commissions and agency fees $ 49,455 $ 38,076 $ 88,140 $ 67,499 \n Franchise revenues 63,839 55,772 118,113 101,744 \n Interest income 95 179 212 368 \n Total revenues 113,389 94,027 206,465 169,611 \n Operating Expenses: \n Employee compensation and benefits 54,328 50,388 104,855 98,722 \n General and administrative expenses 28,420 24,647 52,389 42,206 \n Bad debts 504 550 877 957 \n Depreciation and amortization 3,545 2,782 6,757 5,452 \n Total operating expenses 86,797 78,367 164,878 147,337 \n Income from operations 26,592 15,660 41,587 22,274 \n Other Income: \n Interest expense (5,714 ) (6,303 ) (11,186 ) (12,126 ) \n Other income 260 815 527 983 \n Income before taxes 21,138 10,172 30,928 11,131 \n Tax expense 4,124 1,889 5,869 202 \n Net Income 17,014 8,283 25,059 10,929 \n Less: net income attributable to noncontrolling interests 6,949 3,133 10,105 3,437 \n Net Income attributable to Goosehead Insurance, Inc. $ 10,065 $ 5,150 $ 14,954 $ 7,492 \n Earnings per share: \n Basic $ 0.42 $ 0.20 $ 0.62 $ 0.30 \n Diluted $ 0.41 $ 0.18 $ 0.60 $ 0.27 \n Weighted average shares of Class A common stock outstanding: \n Basic 23,718 25,216 23,992 25,005 \n Diluted 35,710 38,553 36,173 38,542 \n\n\n\n \n Goosehead Insurance, Inc. \n Condensed Consolidated Statements of Operations \n (Unaudited) \n (In thousands, except per share amounts) \n \n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Revenues: \n Core Revenue: \n Renewal Commissions ((1)) $ 21,034 $ 23,119 $ 39,196 $ 40,071 \n Renewal Royalty Fees ((2)) 52,507 45,381 96,101 82,625 \n New Business Commissions ((1)) 9,613 7,559 17,065 13,314 \n New Business Royalty Fees ((2)) 9,396 7,820 17,282 14,749 \n Agency Fees ((1)) 3,083 2,906 5,468 5,146 \n Total Core Revenue 95,633 86,785 175,112 155,905 \n Cost Recovery Revenue: \n Initial Franchise Fees ((2)) 1,360 1,247 2,969 2,589 \n Interest Income 95 179 212 368 \n Total Cost Recovery Revenue 1,455 1,426 3,181 2,957 \n Ancillary Revenue: \n Contingent Commissions ((1)) 15,725 4,492 26,411 8,968 \n Other Franchise Revenues ((2)) 576 1,324 1,761 1,781 \n Total Ancillary Revenue 16,301 5,816 28,172 10,749 \n Total Revenues 113,389 94,027 206,465 169,611 \n Adjusted Operating Expenses: \n Adjusted employee compensation and benefits 49,572 44,372 93,882 86,470 \n Adjusted general and administrative expenses 25,365 19,953 49,334 37,512 \n Bad debts 504 550 877 957 \n Adjusted Total Operating Expenses 75,441 64,875 144,093 124,939 \n Adjusted EBITDA 37,948 29,152 62,372 44,672 \n Adjusted EBITDA Margin 33 % 31 % 30 % 26 % \n \n Interest expense (5,714 ) (6,303 ) (11,186 ) (12,126 ) \n Depreciation and amortization (3,545 ) (2,782 ) (6,757 ) (5,452 ) \n Tax expense (4,124 ) (1,889 ) (5,869 ) (202 ) \n Equity-based compensation (4,756 ) (6,016 ) (10,973 ) (12,253 ) \n Impairment and other gains and losses — (4,694 ) — (4,694 ) \n Contract termination costs (3,055 ) — (3,055 ) — \n Other income 260 815 527 983 \n Net Income $ 17,014 $ 8,283 $ 25,059 $ 10,929 \n Net Income Margin 15 % 9 % 12 % 6 % \n\n(1) Renewal Commissions, New Business Commissions, Agency Fees, and Contingent\nCommissions are included in \"Commissions and agency fees\" as shown on the\nCondensed Consolidated Statements of Operations within Goosehead’s Form\n10-Q.\n(2) Renewal Royalty Fees, New Business Royalty Fees, Initial Franchise Fees,\nand Other Franchise Revenues are included in \"Franchise revenues\" as shown on\nthe Condensed Consolidated Statements of Operations within Goosehead’s Form\n10-Q.\n\n \n Goosehead Insurance, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except par value amounts) \n \n June 30, December 31, \n 2026 2025 \n Assets \n Current Assets: \n Cash and cash equivalents $ 23,655 $ 34,390 \n Restricted cash 3,830 3,547 \n Commissions and agency fees receivable, net 24,726 36,613 \n Receivable from franchisees, net 18,531 11,141 \n Prepaid expenses 14,616 7,552 \n Total current assets 85,358 93,243 \n Receivable from franchisees, net of current portion 1,650 2,936 \n Property and equipment, net of accumulated depreciation 21,766 21,549 \n Right-of-use asset 31,264 34,087 \n Intangible assets, net of accumulated amortization 48,364 39,700 \n Deferred income taxes, net 209,795 216,371 \n Other assets 8,645 6,978 \n Total assets $ 406,842 $ 414,864 \n Liabilities and Stockholders’ Equity \n Current Liabilities: \n Accounts payable and accrued expenses $ 30,115 $ 33,629 \n Premiums payable 3,830 3,547 \n Lease liability 9,305 8,666 \n Contract liabilities 2,790 3,241 \n Note payable 2,993 2,993 \n Liabilities under tax receivable agreement 6,237 6,237 \n Total current liabilities 55,270 58,313 \n Lease liability, net of current portion 46,160 51,168 \n Note payable, net of current portion 314,379 289,461 \n Contract liabilities, net of current portion 11,289 13,025 \n Liabilities under tax receivable agreement, net of current portion 168,275 165,685 \n Total liabilities 595,373 577,652 \n Class A common stock, $0.01 par value per share - 300,000 shares authorized, 23,803 shares issued and outstanding as of June 30, 2026, 24,653 shares issued and outstanding as of December 31, 2025 238 247 \n Class B common stock, $0.01 par value per share - 50,000 shares authorized, 11,713 issued and outstanding as of June 30, 2026, 11,935 shares issued and outstanding as of December 31, 2025 117 119 \n Additional paid in capital 5,645 37,486 \n Accumulated deficit (118,402 ) (133,356 ) \n Total stockholders' equity (112,402 ) (95,504 ) \n Noncontrolling interests (76,129 ) (67,284 ) \n Total equity (188,531 ) (162,788 ) \n Total liabilities and equity $ 406,842 $ 414,864 \n \n\nGoosehead Insurance, Inc.\nReconciliation of Non-GAAP Measures to GAAP\n\nThis release includes certain financial performance measures that are not\nrequired by, nor presented in accordance with, generally accepted accounting\nprinciples in the United States (“GAAP”). The Company refers to these\nmeasures as “non-GAAP financial measures.” The Company uses these non-GAAP\nfinancial measures when planning, monitoring and evaluating its performance\nand considers these non-GAAP financial measures to be useful metrics for\nmanagement and investors to facilitate operating performance comparisons from\nperiod to period by excluding potential differences caused by variations in\ncapital structures, tax position, depreciation, amortization and certain other\nitems that the Company believes are not representative of its core business.\nThe Company uses these non-GAAP financial measures for business planning\npurposes and in measuring its performance relative to that of its competitors.\n\nThese non-GAAP financial measures are defined by the Company as follows:\n* \"Core Revenue\" is a supplemental measure of our performance and includes\nRenewal Commissions, Renewal Royalty Fees, New Business Commissions, New\nBusiness Royalty Fees, and Agency Fees. We believe that Core Revenue is an\nappropriate measure of operating performance because it summarizes all of our\nrevenues from sales of individual insurance policies.\n* \"Cost Recovery Revenue\" is a supplemental measure of our performance and\nincludes Initial Franchise Fees and Interest Income. We believe that Cost\nRecovery Revenue is an appropriate measure of operating performance because it\nsummarizes revenues that are viewed by management as cost recovery mechanisms.\n* \"Ancillary Revenue\" is a supplemental measure of our performance and\nincludes Contingent Commissions and Other Franchise Revenues. We believe that\nAncillary Revenue is an appropriate measure of operating performance because\nit summarizes revenues that are ancillary to our core business.\n* \"Adjusted EBITDA\" is a supplemental measure of the Company's performance. We\nbelieve that Adjusted EBITDA is an appropriate measure of operating\nperformance because it eliminates the impact of items that do not relate to\nbusiness performance. Adjusted EBITDA is defined as net income (the most\ndirectly comparable GAAP measure) before interest, income taxes, depreciation\nand amortization, adjusted to exclude equity-based compensation, impairment\nand other gains and losses, contract termination costs, and other\nnon-operating items, including, among other things, certain non-cash charges\nand certain non-recurring or non-operating gains or losses.\n* \"Adjusted EBITDA Margin\" is Adjusted EBITDA as defined above, divided by\ntotal revenue. Adjusted EBITDA Margin is helpful in measuring profitability of\noperations on a consolidated level.\n* \"Adjusted EPS\" is a supplemental measure of our performance, defined as\nearnings per share (the most directly comparable GAAP measure) before\nnon-recurring or non-operating income and expenses. Adjusted EPS is a useful\nmeasure to management and our investors because it eliminates the impact of\nitems that do not relate to business performance and helps measure our\nprofitability on a consolidated level.\n* “Adjusted total operating expenses” is defined as Total operating\nexpenses (the most directly comparable GAAP measure) before equity-based\ncompensation, depreciation and amortization, impairment and other gains and\nlosses, and contract termination costs. This measure is useful to management\nand our investors as it eliminates the impact of certain non-cash and\nnon-recurring charges.\n* “Adjusted employee compensation and benefits” is defined as Employee\ncompensation and benefits (the most directly comparable GAAP measure) before\nequity-based compensation. This measure is useful to management and our\ninvestors as it eliminates the impact of certain non-cash compensation\ncharges.\n* “Adjusted general and administrative expenses” is defined as general and\nadministrative expenses (the most directly comparable GAAP measure) before\nimpairment and other gains and losses and contract termination costs. This\nmeasure is useful to management and our investors as it eliminates the impact\nof certain non-cash and non-recurring charges.\nWhile the Company believes that these non-GAAP financial measures are useful\nin evaluating its business, this information should be considered as\nsupplemental in nature and is not meant as a substitute for revenues, net\nincome, or earnings per share, in each case as recognized in accordance with\nGAAP. In addition, other companies, including companies in the Company’s\nindustry, may calculate such measures differently, which reduces their\nusefulness as comparative measures.\n\nThe following tables show a reconciliation from total revenues to Core\nRevenue, Cost Recovery Revenue, and Ancillary Revenue (non-GAAP basis) for the\nthree and six months ended June 30, 2026 and 2025 (in thousands):\n\n Three Months Ended June 30, Six Months Ended June 30, \n 2026 2025 2026 2025 \n Total Revenues $ 113,389 $ 94,027 $ 206,465 $ 169,611 \n \n Core Revenue: \n Renewal Commissions ((1)) $ 21,034 $ 23,119 $ 39,196 $ 40,071 \n Renewal Royalty Fees ((2)) 52,507 45,381 96,101 82,625 \n New Business Commissions ((1)) 9,613 7,559 17,065 13,314 \n New Business Royalty Fees ((2)) 9,396 7,820 17,282 14,749 \n Agency Fees ((1)) 3,083 2,906 5,468 5,146 \n Total Core Revenue 95,633 86,785 175,112 155,905 \n Cost Recovery Revenue: \n Initial Franchise Fees ((2)) 1,360 1,247 2,969 2,589 \n Interest Income 95 179 212 368 \n Total Cost Recovery Revenue 1,455 1,426 3,181 2,957 \n Ancillary Revenue: \n Contingent Commissions ((1)) 15,725 4,492 26,411 8,968 \n Other Franchise Revenues ((2)) 576 1,324 1,761 1,781 \n Total Ancillary Revenue 16,301 5,816 28,172 10,749 \n Total Revenues $ 113,389 $ 94,027 $ 206,465 $ 169,611 \n\n(1) Renewal Commissions, New Business Commissions, Agency Fees, and Contingent\nCommissions are included in \"Commissions and agency fees\" as shown on the\nCondensed Consolidated Statements of Operations.\n(2) Renewal Royalty Fees, New Business Royalty Fees, Initial Franchise Fees,\nand Other Franchise Revenues are included in \"Franchise revenues\" as shown on\nthe Condensed Consolidated Statements of Operations.\n\nThe following tables show a reconciliation from net income to Adjusted EBITDA\nand Adjusted EBITDA Margin (non-GAAP basis) for the three and six months ended\nJune 30, 2026 and 2025 (in thousands):\n\n Three Months Ended June 30, Six Months Ended June 30, \n 2026 2025 2026 2025 \n Net Income $ 17,014 $ 8,283 $ 25,059 $ 10,929 \n Interest expense 5,714 6,303 11,186 12,126 \n Depreciation and amortization 3,545 2,782 6,757 5,452 \n Tax expense 4,124 1,889 5,869 202 \n Equity-based compensation 4,756 6,016 10,973 12,253 \n Impairment and other gains and losses — 4,694 — 4,694 \n Contract termination costs 3,055 — 3,055 — \n Other income (260 ) (815 ) (527 ) (983 ) \n Adjusted EBITDA $ 37,948 $ 29,152 $ 62,372 $ 44,672 \n Net Income Margin ((1)) 15 % 9 % 12 % 6 % \n Adjusted EBITDA Margin ((2)) 33 % 31 % 30 % 26 % \n\n(1) Net Income Margin is calculated as Net Income divided by Total Revenue:\n($17,014/$113,389) and ($8,283/$94,027) for the three months ended June 30,\n2026 and 2025, respectively. Net Income Margin is calculated as Net Income\ndivided by Total Revenue ($25,059/$206,465) and ($10,929/$169,611) for the six\nmonths ended June 30, 2026 and 2025, respectively.\n(2) Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by Total\nRevenue: ($37,948/$113,389), and ($29,152/$94,027) for the three months ended\nJune 30, 2026 and 2025, respectively. Adjusted EBITDA Margin is calculated as\nAdjusted EBITDA divided by Total Revenue ($62,372/$206,465), and\n($44,672/$169,611) for the six months ended June 30, 2026 and 2025,\nrespectively.\n\nThe following tables show a reconciliation from basic earnings per share to\nAdjusted EPS (non-GAAP basis) for the three and six months ended June 30, 2026\nand 2025:\n\n Three Months Ended June 30, Six Months Ended June 30, \n 2026 2025 2026 2025 \n Earnings per share - basic (GAAP) $ 0.42 $ 0.20 $ 0.62 $ 0.30 \n Add: equity-based compensation ((1)) 0.13 0.16 0.31 0.33 \n Add: impairment and other gains and losses ((2)) — 0.13 — 0.13 \n Add: contract termination costs ((3)) 0.09 — 0.09 — \n Adjusted EPS (non-GAAP) $ 0.64 $ 0.49 $ 1.02 $ 0.76 \n\n(1) Calculated as equity-based compensation divided by sum of weighted average\nClass A and Class B shares: [$4.8 million/(23.7 million + 11.8 million)] and\n[$6.0 million/ (25.2 million + 12.3 million)] for the three months ended June\n30, 2026 and 2025, respectively. Calculated as equity-based compensation\ndivided by sum of weighted average Class A and Class B shares: [$11.0 million/\n(24.0 million + 11.9 million)] and [$12.3 million/(25.0 million + 12.5\nmillion)] for the six months ended June 30, 2026 and 2025, respectively.\n(2) Calculated as impairment and other gains and losses divided by sum of\nweighted average Class A and Class B shares [$4.7 million/(25.2 million + 12.3\nmillion)] for the three months ended June 30, 2025 and [$4.7 million/(25.0\nmillion + 12.5 million)] for the six months ended June 30, 2025. No impairment\nand other gains and losses were recorded for the three and six months ended\nJune 30, 2026.\n(3) Calculated as contract termination costs divided by sum of weighted\naverage Class A and Class B shares [$3.1 million/(23.7 million + 11.8\nmillion)] for the three months ended June 30, 2026 and [$3.1 million/(24.0\nmillion + 11.9 million)] for the six months ended June 30, 2026. No contract\ntermination costs were recorded for the three and six months ended June 30,\n2025.\n\nThe following table shows a reconciliation of total operating expenses to\nadjusted total operating expenses (non-GAAP basis) for the three and six\nmonths ended June 30, 2026 and 2025 (in thousands):\n\n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Total operating expenses $ 86,797 $ 78,367 $ 164,878 $ 147,337 \n Less: Depreciation and amortization (3,545 ) (2,782 ) (6,757 ) (5,452 ) \n Less: Equity-based compensation (4,756 ) (6,016 ) (10,973 ) (12,253 ) \n Less: Impairment and other gains and losses — (4,694 ) — (4,694 ) \n Less: Contract termination costs (3,055 ) — (3,055 ) — \n Adjusted total operating expenses $ 75,441 $ 64,875 $ 144,093 $ 124,938 \n \n\nThe following table shows a reconciliation of employee compensation and\nbenefits to adjusted employee compensation and benefits (non-GAAP basis) for\nthe three and six months ended June 30, 2026 and 2025 (in thousands):\n\n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Employee compensation and benefits $ 54,328 $ 50,388 $ 104,855 $ 98,722 \n Less: Equity-based compensation (4,756 ) (6,016 ) (10,973 ) (12,253 ) \n Adjusted employee compensation and benefits $ 49,572 $ 44,372 $ 93,882 $ 86,469 \n \n\nThe following table shows a reconciliation of general and administrative\nexpenses to adjusted general and administrative expenses (non-GAAP basis) for\nthe three and six months ended June 30, 2026 and 2025 (in thousands):\n\n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n General and administrative expenses $ 28,420 $ 24,647 $ 52,389 $ 42,206 \n Less: Impairment and other gains and losses — (4,694 ) — (4,694 ) \n Less: Contract termination costs (3,055 ) — (3,055 ) — \n Adjusted general and administrative expenses $ 25,365 $ 19,953 $ 49,334 $ 37,512 \n \n\nGoosehead Insurance, Inc.\nKey Performance Indicators\n\n June 30, 2026 December 31, 2025 June 30, 2025 \n Corporate sales agents < 1 year tenured 323 261 282 \n Corporate sales agents > 1 year tenured 260 228 197 \n Operating franchises < 1 year tenured 69 87 95 \n Operating franchises > 1 year tenured 829 922 980 \n Franchise Producers < 1 Year 607 545 532 \n Franchise Producers > 1 Year 1,583 1,568 1,553 \n Total Franchise Producers 2,190 2,113 2,085 \n QTD Corporate Agent Productivity < 1 Year ((1)) $ 18,936 $ 13,728 $ 18,612 \n QTD Corporate Agent Productivity > 1 Year ((1)) $ 27,907 $ 22,735 $ 30,709 \n QTD Franchise Productivity < 1 Year ((2)) $ 30,253 $ 16,101 $ 17,837 \n QTD Franchise Productivity > 1 Year ((2)) $ 48,042 $ 34,413 $ 36,287 \n Policies in Force (in thousands) 2,053 1,900 1,793 \n Client Retention 86 % 85 % 84 % \n Premium Retention 88 % 90 % 95 % \n QTD Written Premium (in thousands) $ 1,335,338 $ 1,090,130 $ 1,175,909 \n Customer Satisfaction Score (CSAT) ((3)) 4.1 — — \n\n(1) - Corporate Productivity is New Business Production per Agent (Corporate):\nThe New Business Revenue collected related to corporate sales, divided by the\naverage number of full-time corporate sales agents for the same period. This\ncalculation excludes interns, part-time sales agents and partial full-time\nequivalent sales managers.\n\n(2) - Franchise Productivity is New Business Production per Agency: The gross\ncommissions paid by Carriers and Agency Fees received related to policies in\ntheir first term sold by franchise sales agents, prior to paying Royalty Fees\nto the Company, divided by the average number of franchises for the same\nperiod.\n\n(3) CSAT: Customer Satisfaction Score; the average of all client responses to\na single survey question asking clients to rate their most recent interaction\nwith us on a scale of 1 to 5, where 5 is most satisfied and 1 is least\nsatisfied. The current period reflects all responses from October 1, 2025\nthrough the end of the current period. It will be presented on a trailing\ntwelve-month basis beginning with the period ending September 30, 2026.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/0ea81132-f1a4-40ab-9dfe-c21d5085f84b)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXpxgYK","title":"Goosehead Insurance, Inc. Announces Second Quarter 2026 Results","author":"Globe Newswire","ticker":"GSHD","created":"2026-07-22T20:05:07.885Z","tickers":["GSHD"],"exchange":"NASDAQ","article_body":"– Total Revenue Increased 21% and Core Revenue* Grew 10% over the\nPrior-Year Period –\n– Total Written Premium increased 14% to $1.34 billion over the Prior-Year\nPeriod –\n– Net Income of $17.0 million versus Net Income of $8.3 million a year ago\n–\n– Adjusted EBITDA* up 30% over Prior-Year Period to $37.9 million –\n– Policies in force growth accelerated to 15% from 14% in the Prior Quarter\n–\n\nWESTLAKE, Texas, July 22, 2026 (GLOBE NEWSWIRE) -- Goosehead Insurance, Inc.\n(“Goosehead” or the “Company”) (NASDAQ: GSHD), a rapidly growing\nindependent personal lines insurance agency, today announced results for the\nsecond quarter ended June 30, 2026.\n\nSecond Quarter 2026 Highlights\n* Total Revenues grew 21% over the prior-year period to $113.4 million in the\nsecond quarter of 2026\n* Second quarter Core Revenues* of $95.6 million increased 10% over the\nprior-year period\n* Second quarter net income of $17.0 million increased from net income of $8.3\nmillion a year ago\n* EPS of $0.42 per share increased 106% and Adjusted EPS* of $0.64 per share\nincreased 32%, over the prior-year period\n* Net income margin for the second quarter was 15%\n* Adjusted EBITDA* of $37.9 million increased 30% from $29.2 million in the\nprior-year period\n* Adjusted EBITDA Margin* increased 2 percentage points over the prior-year\nperiod to 33%\n* Total written premiums placed for the second quarter increased 14% over the\nprior-year period to $1.34 billion\n* Policies in force grew 15% from the prior-year period to approximately 2.1\nmillion\n* Corporate agent headcount of 583 increased 22% compared to the prior-year\nperiod\n* Total franchise producers of 2,190 increased 5% from the prior-year period\n(*)Core Revenue, Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are\nnon-GAAP measures. Reconciliations of Core Revenue to total revenues, Adjusted\nEPS to basic earnings per share and Adjusted EBITDA to net income, the most\ndirectly comparable financial measures presented in accordance with GAAP, are\nset forth in the reconciliation table accompanying this release.\n\n“Today we are proud to announce our second quarter results which reflect\naccelerating momentum across our entire business,” said Mark Miller, CEO.\n“We delivered strong new business growth in every channel while improving\nclient retention, accelerating premium and policy in force growth rates, and\nincreasing productivity. Our distribution force is healthier than ever, our\ntechnology continues to evolve at a significant pace, and the product market\nis more favorable than it has been in years. We believe Goosehead is\nwell-positioned for continued durable growth and profitability.”\n\nSecond Quarter 2026 Results\nFor the second quarter of 2026, total revenues were $113.4 million, an\nincrease of 21% compared to the corresponding period in 2025. Core Revenues, a\nnon-GAAP measure which excludes contingent commissions, initial franchise\nfees, interest income, and other franchise revenues, were $95.6 million, a 10%\nincrease from $86.8 million in the prior-year period. Core Revenues are the\nmost reliable revenue stream for the Company, consisting of New Business\nCommissions, Agency Fees, New Business Royalty Fees, Renewal Commissions, and\nRenewal Royalty Fees. Core Revenue growth was driven primarily by more\npolicies in their renewal term, supported by an 86% Client Retention rate, and\nby more new policies placed, driven by growth in the number of Corporate and\nFranchise sales agents and improved Franchise productivity. This was partially\noffset by the prior-year recognition of $3.0 million of Renewal Commissions\nand $1.0 million of Renewal Royalty Fees tied to the release of a constraint\non variable consideration for policies placed in earlier periods. The Company\ngrew total written premiums, which we consider to be the leading indicator of\nfuture revenue growth, by 14% in the second quarter compared to the\ncorresponding period in prior year.\n\nTotal operating expenses for the second quarter of 2026 were $86.8 million, up\nfrom $78.4 million in the prior-year period. Adjusted total operating\nexpenses* for the second quarter of 2026 were $75.4 million, up 16% from $64.9\nmillion in the prior-year period. Employee compensation and benefits increased\nto $54.3 million from $50.4 million in the prior-year period. Adjusted\nemployee compensation and benefits* increased to $49.6 million from $44.4\nmillion in the prior-year period. The increases were primarily due to\ninvestments in corporate producers and technology functions. Equity-based\ncompensation decreased to $4.8 million for the period, compared to $6.0\nmillion in the prior-year period. General and administrative expenses\nincreased to $28.4 million from $24.6 million in the prior-year period.\nAdjusted general and administrative expenses*, increased to $25.4 million from\n$20.0 million primarily due to investments in technology and professional\nservices to drive growth and continue to improve the client experience. Bad\ndebt expense of $0.5 million decreased compared to the prior-year period.\n\nNet income in the second quarter of 2026 was $17.0 million versus net income\nof $8.3 million in the prior-year period. Earnings per share and Net Income\nMargin for the second quarter of 2026 were $0.42 and 15%, respectively.\nAdjusted EPS* for the second quarter of 2026 was $0.64 per share. Total\nAdjusted EBITDA* was $37.9 million for the second quarter of 2026 compared to\n$29.2 million in the prior-year period. Adjusted EBITDA Margin* of 33%\nincreased 2 percentage points in the quarter. \n*Adjusted total operating expenses, adjusted employee compensation and\nbenefits, adjusted general and administrative expenses, adjusted EPS, adjusted\nEBITDA, and adjusted EBITDA Margin are non-GAAP measures. For the definition\nand reconciliation of each non-GAAP measure, see “Reconciliation of Non-GAAP\nMeasures to GAAP” below.\n\nLiquidity and Capital Resources\nAs of June 30, 2026, the Company had cash and cash equivalents of $23.7\nmillion. We have a line of credit of $75.0 million, of which $26.0 million was\ndrawn as of June 30, 2026. Total outstanding notes payable was $323.0 million\nas of June 30, 2026. During the quarter ended June 30, 2026, the Company\nrepurchased and retired 95 thousand shares at an average share price of\n$40.95. As of June 30, 2026, $144.6 million remained available under the share\nrepurchase authorization.\n\n2026 Outlook\nWe have increased our guidance for the full year 2026 as follows:\n* Total revenues are now expected to grow organically between 12% and 19%.\n* Total written premiums are expected to grow between 12% and 20%.\nConference Call Information\nGoosehead will host a conference call and webcast today at 4:30 PM ET to\ndiscuss these results.\n\nTo access the call by phone, participants should go to this link (registration\nlink\n(https://www.globenewswire.com/Tracker?data=RhLCVw2_AiUfT5eJibkhVCFc1KN-t4Hmw5MK8dJMSXll9lZD_CLXDUv6yxjWn7QYQ91fWnBTu7_BQ4ObGqiOjmKrFaQPkTy97Itk84aRybOWFfLYxl1yBLHfNWBzjthGUbR0MmcXdWJEGeo6yzDhUGk_ZHmqQRzF0b1h3axvkBU4s1hQaBS7QnPt2H-27JUZkwvoAwnxgU4vImb9Ks0PnIJESnvNUm3oZsArDhsBm902_ZltTi1BtpIYo3UPlXDyFV50tpk7_6JF4_rpTdpoDw0My92miA75k91lJ6VzEOhQesm-Sx_Xdbbx-i_Lna3eAVxeQGUvCcKIE9Ypm-4n8cwaRp5I7P8GvF4vnrBNt0A=)),\nand you will be provided with the dial in details.\n\nIn addition, a live webcast of the conference call will also be available on\nGoosehead’s investor relations website at http://ir.gooseheadinsurance.com.\n\nA webcast replay of the call will be available at\nhttp://ir.gooseheadinsurance.com for one year following the call.\n\nAbout Goosehead\nGoosehead (NASDAQ: GSHD) is a rapidly growing and innovative independent\npersonal lines insurance agency that distributes its products and services\nthrough corporate and franchise locations throughout the United States.\nGoosehead was founded on the premise that the consumer should be at the center\nof our universe and that everything we do should be directed at providing\nextraordinary value by offering broad product choice and a world-class service\nexperience. Goosehead represents over 200 insurance companies that underwrite\npersonal and commercial lines. For more information, please visit\ngoosehead.com or goosehead.com/become-a-franchisee.\n\nForward-Looking Statements\nThis press release may contain various “forward-looking statements” within\nthe meaning of the Private Securities Litigation Reform Act of 1995, which\nrepresent Goosehead’s expectations or beliefs concerning future events.\nForward-looking statements are statements other than historical facts and may\ninclude statements that address future operating, financial or business\nperformance or Goosehead’s strategies or expectations. In some cases, you\ncan identify these statements by forward-looking words such as “may”,\n“might”, “will”, “should”, “expects”, “plans”,\n“anticipates”, “believes”, “estimates”, “predicts”,\n“projects”, “potential”, “outlook” or “continue”, or the\nnegative of these terms or other comparable terminology. Forward-looking\nstatements are based on management’s current expectations and beliefs and\ninvolve significant risks and uncertainties that could cause actual results,\ndevelopments and business decisions to differ materially from those\ncontemplated by these statements.\n\nFactors that could cause actual results or performance to differ from the\nexpectations expressed or implied in such forward-looking statements include,\nbut are not limited to, conditions impacting insurance carriers or other\nparties with which Goosehead does business, the loss of one or more key\nexecutives or an inability to attract and retain qualified personnel and the\nfailure to attract and retain highly qualified franchisees. These risks and\nuncertainties also include, but are not limited to, those described under the\ncaptions “1A. Risk Factors” in Goosehead’s Annual Report on Form 10-K\nfor the year ended December 31, 2025 and in Goosehead’s other filings with\nthe SEC, which are available free of charge on the Securities Exchange\nCommission's website at: www.sec.gov. Should one or more of these risks or\nuncertainties materialize, or should underlying assumptions prove incorrect,\nactual results may vary materially from those indicated. All forward-looking\nstatements and all subsequent written and oral forward-looking statements\nattributable to Goosehead or to persons acting on behalf of Goosehead are\nexpressly qualified in their entirety by reference to these risks and\nuncertainties. You should not place undue reliance on forward-looking\nstatements. Forward-looking statements speak only as of the date they are\nmade, and Goosehead does not undertake any obligation to update them in light\nof new information, future developments or otherwise, except as may be\nrequired under applicable law.\n\nContacts\nInvestor Contacts:\nMaddie Middleton\nGoosehead Insurance - Senior Director of Investor Relations\nPhone: (972) 800-1993\nEmail: madeline.middleton@goosehead.com; IR@goosehead.com\n\nPR Contact:\nMission North for Goosehead Insurance\nEmail: goosehead@missionnorth.com; PR@goosehead.com\n\n \n Goosehead Insurance, Inc. \n Condensed Consolidated Statements of Operations \n (Unaudited) \n (In thousands, except per share amounts) \n \n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Revenues: \n Commissions and agency fees $ 49,455 $ 38,076 $ 88,140 $ 67,499 \n Franchise revenues 63,839 55,772 118,113 101,744 \n Interest income 95 179 212 368 \n Total revenues 113,389 94,027 206,465 169,611 \n Operating Expenses: \n Employee compensation and benefits 54,328 50,388 104,855 98,722 \n General and administrative expenses 28,420 24,647 52,389 42,206 \n Bad debts 504 550 877 957 \n Depreciation and amortization 3,545 2,782 6,757 5,452 \n Total operating expenses 86,797 78,367 164,878 147,337 \n Income from operations 26,592 15,660 41,587 22,274 \n Other Income: \n Interest expense (5,714 ) (6,303 ) (11,186 ) (12,126 ) \n Other income 260 815 527 983 \n Income before taxes 21,138 10,172 30,928 11,131 \n Tax expense 4,124 1,889 5,869 202 \n Net Income 17,014 8,283 25,059 10,929 \n Less: net income attributable to noncontrolling interests 6,949 3,133 10,105 3,437 \n Net Income attributable to Goosehead Insurance, Inc. $ 10,065 $ 5,150 $ 14,954 $ 7,492 \n Earnings per share: \n Basic $ 0.42 $ 0.20 $ 0.62 $ 0.30 \n Diluted $ 0.41 $ 0.18 $ 0.60 $ 0.27 \n Weighted average shares of Class A common stock outstanding: \n Basic 23,718 25,216 23,992 25,005 \n Diluted 35,710 38,553 36,173 38,542 \n\n\n\n \n Goosehead Insurance, Inc. \n Condensed Consolidated Statements of Operations \n (Unaudited) \n (In thousands, except per share amounts) \n \n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Revenues: \n Core Revenue: \n Renewal Commissions ((1)) $ 21,034 $ 23,119 $ 39,196 $ 40,071 \n Renewal Royalty Fees ((2)) 52,507 45,381 96,101 82,625 \n New Business Commissions ((1)) 9,613 7,559 17,065 13,314 \n New Business Royalty Fees ((2)) 9,396 7,820 17,282 14,749 \n Agency Fees ((1)) 3,083 2,906 5,468 5,146 \n Total Core Revenue 95,633 86,785 175,112 155,905 \n Cost Recovery Revenue: \n Initial Franchise Fees ((2)) 1,360 1,247 2,969 2,589 \n Interest Income 95 179 212 368 \n Total Cost Recovery Revenue 1,455 1,426 3,181 2,957 \n Ancillary Revenue: \n Contingent Commissions ((1)) 15,725 4,492 26,411 8,968 \n Other Franchise Revenues ((2)) 576 1,324 1,761 1,781 \n Total Ancillary Revenue 16,301 5,816 28,172 10,749 \n Total Revenues 113,389 94,027 206,465 169,611 \n Adjusted Operating Expenses: \n Adjusted employee compensation and benefits 49,572 44,372 93,882 86,470 \n Adjusted general and administrative expenses 25,365 19,953 49,334 37,512 \n Bad debts 504 550 877 957 \n Adjusted Total Operating Expenses 75,441 64,875 144,093 124,939 \n Adjusted EBITDA 37,948 29,152 62,372 44,672 \n Adjusted EBITDA Margin 33 % 31 % 30 % 26 % \n \n Interest expense (5,714 ) (6,303 ) (11,186 ) (12,126 ) \n Depreciation and amortization (3,545 ) (2,782 ) (6,757 ) (5,452 ) \n Tax expense (4,124 ) (1,889 ) (5,869 ) (202 ) \n Equity-based compensation (4,756 ) (6,016 ) (10,973 ) (12,253 ) \n Impairment and other gains and losses — (4,694 ) — (4,694 ) \n Contract termination costs (3,055 ) — (3,055 ) — \n Other income 260 815 527 983 \n Net Income $ 17,014 $ 8,283 $ 25,059 $ 10,929 \n Net Income Margin 15 % 9 % 12 % 6 % \n\n(1) Renewal Commissions, New Business Commissions, Agency Fees, and Contingent\nCommissions are included in \"Commissions and agency fees\" as shown on the\nCondensed Consolidated Statements of Operations within Goosehead’s Form\n10-Q.\n(2) Renewal Royalty Fees, New Business Royalty Fees, Initial Franchise Fees,\nand Other Franchise Revenues are included in \"Franchise revenues\" as shown on\nthe Condensed Consolidated Statements of Operations within Goosehead’s Form\n10-Q.\n\n \n Goosehead Insurance, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except par value amounts) \n \n June 30, December 31, \n 2026 2025 \n Assets \n Current Assets: \n Cash and cash equivalents $ 23,655 $ 34,390 \n Restricted cash 3,830 3,547 \n Commissions and agency fees receivable, net 24,726 36,613 \n Receivable from franchisees, net 18,531 11,141 \n Prepaid expenses 14,616 7,552 \n Total current assets 85,358 93,243 \n Receivable from franchisees, net of current portion 1,650 2,936 \n Property and equipment, net of accumulated depreciation 21,766 21,549 \n Right-of-use asset 31,264 34,087 \n Intangible assets, net of accumulated amortization 48,364 39,700 \n Deferred income taxes, net 209,795 216,371 \n Other assets 8,645 6,978 \n Total assets $ 406,842 $ 414,864 \n Liabilities and Stockholders’ Equity \n Current Liabilities: \n Accounts payable and accrued expenses $ 30,115 $ 33,629 \n Premiums payable 3,830 3,547 \n Lease liability 9,305 8,666 \n Contract liabilities 2,790 3,241 \n Note payable 2,993 2,993 \n Liabilities under tax receivable agreement 6,237 6,237 \n Total current liabilities 55,270 58,313 \n Lease liability, net of current portion 46,160 51,168 \n Note payable, net of current portion 314,379 289,461 \n Contract liabilities, net of current portion 11,289 13,025 \n Liabilities under tax receivable agreement, net of current portion 168,275 165,685 \n Total liabilities 595,373 577,652 \n Class A common stock, $0.01 par value per share - 300,000 shares authorized, 23,803 shares issued and outstanding as of June 30, 2026, 24,653 shares issued and outstanding as of December 31, 2025 238 247 \n Class B common stock, $0.01 par value per share - 50,000 shares authorized, 11,713 issued and outstanding as of June 30, 2026, 11,935 shares issued and outstanding as of December 31, 2025 117 119 \n Additional paid in capital 5,645 37,486 \n Accumulated deficit (118,402 ) (133,356 ) \n Total stockholders' equity (112,402 ) (95,504 ) \n Noncontrolling interests (76,129 ) (67,284 ) \n Total equity (188,531 ) (162,788 ) \n Total liabilities and equity $ 406,842 $ 414,864 \n \n\nGoosehead Insurance, Inc.\nReconciliation of Non-GAAP Measures to GAAP\n\nThis release includes certain financial performance measures that are not\nrequired by, nor presented in accordance with, generally accepted accounting\nprinciples in the United States (“GAAP”). The Company refers to these\nmeasures as “non-GAAP financial measures.” The Company uses these non-GAAP\nfinancial measures when planning, monitoring and evaluating its performance\nand considers these non-GAAP financial measures to be useful metrics for\nmanagement and investors to facilitate operating performance comparisons from\nperiod to period by excluding potential differences caused by variations in\ncapital structures, tax position, depreciation, amortization and certain other\nitems that the Company believes are not representative of its core business.\nThe Company uses these non-GAAP financial measures for business planning\npurposes and in measuring its performance relative to that of its competitors.\n\nThese non-GAAP financial measures are defined by the Company as follows:\n* \"Core Revenue\" is a supplemental measure of our performance and includes\nRenewal Commissions, Renewal Royalty Fees, New Business Commissions, New\nBusiness Royalty Fees, and Agency Fees. We believe that Core Revenue is an\nappropriate measure of operating performance because it summarizes all of our\nrevenues from sales of individual insurance policies.\n* \"Cost Recovery Revenue\" is a supplemental measure of our performance and\nincludes Initial Franchise Fees and Interest Income. We believe that Cost\nRecovery Revenue is an appropriate measure of operating performance because it\nsummarizes revenues that are viewed by management as cost recovery mechanisms.\n* \"Ancillary Revenue\" is a supplemental measure of our performance and\nincludes Contingent Commissions and Other Franchise Revenues. We believe that\nAncillary Revenue is an appropriate measure of operating performance because\nit summarizes revenues that are ancillary to our core business.\n* \"Adjusted EBITDA\" is a supplemental measure of the Company's performance. We\nbelieve that Adjusted EBITDA is an appropriate measure of operating\nperformance because it eliminates the impact of items that do not relate to\nbusiness performance. Adjusted EBITDA is defined as net income (the most\ndirectly comparable GAAP measure) before interest, income taxes, depreciation\nand amortization, adjusted to exclude equity-based compensation, impairment\nand other gains and losses, contract termination costs, and other\nnon-operating items, including, among other things, certain non-cash charges\nand certain non-recurring or non-operating gains or losses.\n* \"Adjusted EBITDA Margin\" is Adjusted EBITDA as defined above, divided by\ntotal revenue. Adjusted EBITDA Margin is helpful in measuring profitability of\noperations on a consolidated level.\n* \"Adjusted EPS\" is a supplemental measure of our performance, defined as\nearnings per share (the most directly comparable GAAP measure) before\nnon-recurring or non-operating income and expenses. Adjusted EPS is a useful\nmeasure to management and our investors because it eliminates the impact of\nitems that do not relate to business performance and helps measure our\nprofitability on a consolidated level.\n* “Adjusted total operating expenses” is defined as Total operating\nexpenses (the most directly comparable GAAP measure) before equity-based\ncompensation, depreciation and amortization, impairment and other gains and\nlosses, and contract termination costs. This measure is useful to management\nand our investors as it eliminates the impact of certain non-cash and\nnon-recurring charges.\n* “Adjusted employee compensation and benefits” is defined as Employee\ncompensation and benefits (the most directly comparable GAAP measure) before\nequity-based compensation. This measure is useful to management and our\ninvestors as it eliminates the impact of certain non-cash compensation\ncharges.\n* “Adjusted general and administrative expenses” is defined as general and\nadministrative expenses (the most directly comparable GAAP measure) before\nimpairment and other gains and losses and contract termination costs. This\nmeasure is useful to management and our investors as it eliminates the impact\nof certain non-cash and non-recurring charges.\nWhile the Company believes that these non-GAAP financial measures are useful\nin evaluating its business, this information should be considered as\nsupplemental in nature and is not meant as a substitute for revenues, net\nincome, or earnings per share, in each case as recognized in accordance with\nGAAP. In addition, other companies, including companies in the Company’s\nindustry, may calculate such measures differently, which reduces their\nusefulness as comparative measures.\n\nThe following tables show a reconciliation from total revenues to Core\nRevenue, Cost Recovery Revenue, and Ancillary Revenue (non-GAAP basis) for the\nthree and six months ended June 30, 2026 and 2025 (in thousands):\n\n Three Months Ended June 30, Six Months Ended June 30, \n 2026 2025 2026 2025 \n Total Revenues $ 113,389 $ 94,027 $ 206,465 $ 169,611 \n \n Core Revenue: \n Renewal Commissions ((1)) $ 21,034 $ 23,119 $ 39,196 $ 40,071 \n Renewal Royalty Fees ((2)) 52,507 45,381 96,101 82,625 \n New Business Commissions ((1)) 9,613 7,559 17,065 13,314 \n New Business Royalty Fees ((2)) 9,396 7,820 17,282 14,749 \n Agency Fees ((1)) 3,083 2,906 5,468 5,146 \n Total Core Revenue 95,633 86,785 175,112 155,905 \n Cost Recovery Revenue: \n Initial Franchise Fees ((2)) 1,360 1,247 2,969 2,589 \n Interest Income 95 179 212 368 \n Total Cost Recovery Revenue 1,455 1,426 3,181 2,957 \n Ancillary Revenue: \n Contingent Commissions ((1)) 15,725 4,492 26,411 8,968 \n Other Franchise Revenues ((2)) 576 1,324 1,761 1,781 \n Total Ancillary Revenue 16,301 5,816 28,172 10,749 \n Total Revenues $ 113,389 $ 94,027 $ 206,465 $ 169,611 \n\n(1) Renewal Commissions, New Business Commissions, Agency Fees, and Contingent\nCommissions are included in \"Commissions and agency fees\" as shown on the\nCondensed Consolidated Statements of Operations.\n(2) Renewal Royalty Fees, New Business Royalty Fees, Initial Franchise Fees,\nand Other Franchise Revenues are included in \"Franchise revenues\" as shown on\nthe Condensed Consolidated Statements of Operations.\n\nThe following tables show a reconciliation from net income to Adjusted EBITDA\nand Adjusted EBITDA Margin (non-GAAP basis) for the three and six months ended\nJune 30, 2026 and 2025 (in thousands):\n\n Three Months Ended June 30, Six Months Ended June 30, \n 2026 2025 2026 2025 \n Net Income $ 17,014 $ 8,283 $ 25,059 $ 10,929 \n Interest expense 5,714 6,303 11,186 12,126 \n Depreciation and amortization 3,545 2,782 6,757 5,452 \n Tax expense 4,124 1,889 5,869 202 \n Equity-based compensation 4,756 6,016 10,973 12,253 \n Impairment and other gains and losses — 4,694 — 4,694 \n Contract termination costs 3,055 — 3,055 — \n Other income (260 ) (815 ) (527 ) (983 ) \n Adjusted EBITDA $ 37,948 $ 29,152 $ 62,372 $ 44,672 \n Net Income Margin ((1)) 15 % 9 % 12 % 6 % \n Adjusted EBITDA Margin ((2)) 33 % 31 % 30 % 26 % \n\n(1) Net Income Margin is calculated as Net Income divided by Total Revenue:\n($17,014/$113,389) and ($8,283/$94,027) for the three months ended June 30,\n2026 and 2025, respectively. Net Income Margin is calculated as Net Income\ndivided by Total Revenue ($25,059/$206,465) and ($10,929/$169,611) for the six\nmonths ended June 30, 2026 and 2025, respectively.\n(2) Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by Total\nRevenue: ($37,948/$113,389), and ($29,152/$94,027) for the three months ended\nJune 30, 2026 and 2025, respectively. Adjusted EBITDA Margin is calculated as\nAdjusted EBITDA divided by Total Revenue ($62,372/$206,465), and\n($44,672/$169,611) for the six months ended June 30, 2026 and 2025,\nrespectively.\n\nThe following tables show a reconciliation from basic earnings per share to\nAdjusted EPS (non-GAAP basis) for the three and six months ended June 30, 2026\nand 2025:\n\n Three Months Ended June 30, Six Months Ended June 30, \n 2026 2025 2026 2025 \n Earnings per share - basic (GAAP) $ 0.42 $ 0.20 $ 0.62 $ 0.30 \n Add: equity-based compensation ((1)) 0.13 0.16 0.31 0.33 \n Add: impairment and other gains and losses ((2)) — 0.13 — 0.13 \n Add: contract termination costs ((3)) 0.09 — 0.09 — \n Adjusted EPS (non-GAAP) $ 0.64 $ 0.49 $ 1.02 $ 0.76 \n\n(1) Calculated as equity-based compensation divided by sum of weighted average\nClass A and Class B shares: [$4.8 million/(23.7 million + 11.8 million)] and\n[$6.0 million/ (25.2 million + 12.3 million)] for the three months ended June\n30, 2026 and 2025, respectively. Calculated as equity-based compensation\ndivided by sum of weighted average Class A and Class B shares: [$11.0 million/\n(24.0 million + 11.9 million)] and [$12.3 million/(25.0 million + 12.5\nmillion)] for the six months ended June 30, 2026 and 2025, respectively.\n(2) Calculated as impairment and other gains and losses divided by sum of\nweighted average Class A and Class B shares [$4.7 million/(25.2 million + 12.3\nmillion)] for the three months ended June 30, 2025 and [$4.7 million/(25.0\nmillion + 12.5 million)] for the six months ended June 30, 2025. No impairment\nand other gains and losses were recorded for the three and six months ended\nJune 30, 2026.\n(3) Calculated as contract termination costs divided by sum of weighted\naverage Class A and Class B shares [$3.1 million/(23.7 million + 11.8\nmillion)] for the three months ended June 30, 2026 and [$3.1 million/(24.0\nmillion + 11.9 million)] for the six months ended June 30, 2026. No contract\ntermination costs were recorded for the three and six months ended June 30,\n2025.\n\nThe following table shows a reconciliation of total operating expenses to\nadjusted total operating expenses (non-GAAP basis) for the three and six\nmonths ended June 30, 2026 and 2025 (in thousands):\n\n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Total operating expenses $ 86,797 $ 78,367 $ 164,878 $ 147,337 \n Less: Depreciation and amortization (3,545 ) (2,782 ) (6,757 ) (5,452 ) \n Less: Equity-based compensation (4,756 ) (6,016 ) (10,973 ) (12,253 ) \n Less: Impairment and other gains and losses — (4,694 ) — (4,694 ) \n Less: Contract termination costs (3,055 ) — (3,055 ) — \n Adjusted total operating expenses $ 75,441 $ 64,875 $ 144,093 $ 124,938 \n \n\nThe following table shows a reconciliation of employee compensation and\nbenefits to adjusted employee compensation and benefits (non-GAAP basis) for\nthe three and six months ended June 30, 2026 and 2025 (in thousands):\n\n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Employee compensation and benefits $ 54,328 $ 50,388 $ 104,855 $ 98,722 \n Less: Equity-based compensation (4,756 ) (6,016 ) (10,973 ) (12,253 ) \n Adjusted employee compensation and benefits $ 49,572 $ 44,372 $ 93,882 $ 86,469 \n \n\nThe following table shows a reconciliation of general and administrative\nexpenses to adjusted general and administrative expenses (non-GAAP basis) for\nthe three and six months ended June 30, 2026 and 2025 (in thousands):\n\n Three Months Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n General and administrative expenses $ 28,420 $ 24,647 $ 52,389 $ 42,206 \n Less: Impairment and other gains and losses — (4,694 ) — (4,694 ) \n Less: Contract termination costs (3,055 ) — (3,055 ) — \n Adjusted general and administrative expenses $ 25,365 $ 19,953 $ 49,334 $ 37,512 \n \n\nGoosehead Insurance, Inc.\nKey Performance Indicators\n\n June 30, 2026 December 31, 2025 June 30, 2025 \n Corporate sales agents < 1 year tenured 323 261 282 \n Corporate sales agents > 1 year tenured 260 228 197 \n Operating franchises < 1 year tenured 69 87 95 \n Operating franchises > 1 year tenured 829 922 980 \n Franchise Producers < 1 Year 607 545 532 \n Franchise Producers > 1 Year 1,583 1,568 1,553 \n Total Franchise Producers 2,190 2,113 2,085 \n QTD Corporate Agent Productivity < 1 Year ((1)) $ 18,936 $ 13,728 $ 18,612 \n QTD Corporate Agent Productivity > 1 Year ((1)) $ 27,907 $ 22,735 $ 30,709 \n QTD Franchise Productivity < 1 Year ((2)) $ 30,253 $ 16,101 $ 17,837 \n QTD Franchise Productivity > 1 Year ((2)) $ 48,042 $ 34,413 $ 36,287 \n Policies in Force (in thousands) 2,053 1,900 1,793 \n Client Retention 86 % 85 % 84 % \n Premium Retention 88 % 90 % 95 % \n QTD Written Premium (in thousands) $ 1,335,338 $ 1,090,130 $ 1,175,909 \n Customer Satisfaction Score (CSAT) ((3)) 4.1 — — \n\n(1) - Corporate Productivity is New Business Production per Agent (Corporate):\nThe New Business Revenue collected related to corporate sales, divided by the\naverage number of full-time corporate sales agents for the same period. This\ncalculation excludes interns, part-time sales agents and partial full-time\nequivalent sales managers.\n\n(2) - Franchise Productivity is New Business Production per Agency: The gross\ncommissions paid by Carriers and Agency Fees received related to policies in\ntheir first term sold by franchise sales agents, prior to paying Royalty Fees\nto the Company, divided by the average number of franchises for the same\nperiod.\n\n(3) CSAT: Customer Satisfaction Score; the average of all client responses to\na single survey question asking clients to rate their most recent interaction\nwith us on a scale of 1 to 5, where 5 is most satisfied and 1 is least\nsatisfied. The current period reflects all responses from October 1, 2025\nthrough the end of the current period. It will be presented on a trailing\ntwelve-month basis beginning with the period ending September 30, 2026.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/0ea81132-f1a4-40ab-9dfe-c21d5085f84b)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-07-22T20:05:07.989430313Z","server_sent_at_ms":1784750707989},"received_at":"2026-07-22T20:05:08.140Z","source_url":"https://www.globenewswire.com/news-release/2026/07/22/3331703/0/en/Goosehead-Insurance-Inc-Announces-Second-Quarter-2026-Results.html"},"analysis":{"id":"84815","press_release_id":"95772","analysis_json":{"industry":{"label":"Insurance","sector":"Financials"},"redFlags":[],"eventType":"earnings","narrative":"Goosehead reported Q2 revenue of $113.4 million, up 21% year-over-year, with net income more than doubling to $17.0 million driven by strong premium growth and improved productivity.\n\nTotal written premiums increased 14% to $1.34 billion and policies in force grew 15% to 2.1 million, pushing Adjusted EBITDA up 30% to $37.9 million with a 33% margin.\n\nManagement raised full-year 2026 guidance for total revenue growth to 12-19% and repurchased 95,000 shares during the quarter, leaving $144.6 million available under its buyback authorization.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Q2 beat and raise with accelerating premium growth and expanding Adjusted EBITDA margins."},"keyFigures":{"eps":0.42,"revenue":113400000,"guidance":"FY2026 total revenue growth 12-19% (raised), total written premiums growth 12-20%","revenueYoy":"21%","customDimensions":{"net_income":17000000,"adjusted_ebitda":37900000,"net_income_margin":"15%","policies_in_force":2100000,"total_written_premium":1340000000,"adjusted_ebitda_margin":"33%"}},"quotedText":"Today we are proud to announce our second quarter results which reflect accelerating momentum across our entire business","namedEntities":{"people":[{"name":"Mark Miller","role":"CEO"},{"name":"Maddie Middleton","role":"Senior Director of Investor Relations"}],"products":[],"companies":[{"name":"Goosehead Insurance, Inc.","ticker":"GSHD"},{"name":"Mission North","relationship":"PR Contact"}],"dollarAmounts":[{"amount":"$113.4 million","context":"Q2 2026 total revenues"},{"amount":"$17.0 million","context":"Q2 2026 net income"},{"amount":"$37.9 million","context":"Q2 2026 adjusted EBITDA"},{"amount":"$1.34 billion","context":"Q2 2026 total written premiums"},{"amount":"$144.6 million","context":"remaining share repurchase authorization"},{"amount":"$40.95","context":"average share repurchase price"}]},"materialImpact":{"score":4,"reasoning":"Q2 revenue grew 21% YoY to $113.4M, while net income more than doubled to $17.0M driven by strong premium growth and margin expansion. Management raised full-year 2026 revenue guidance to 12-19% organic growth."},"tickerRelevance":{"others":[],"primary":"GSHD"},"globalImportance":35,"audienceRelevance":40,"eventTypeSecondary":["guidance_update","buyback"],"importanceComponents":{"tickerTier":"mid-cap-growth","eventGravity":"strong_beat_and_raise","sectorWeight":"financials","retailFavoriteBoost":true}},"event_type":"earnings","event_type_secondary":["guidance_update","buyback"],"sentiment":"bullish","material_impact_score":4,"narrative":"Goosehead reported Q2 revenue of $113.4 million, up 21% year-over-year, with net income more than doubling to $17.0 million driven by strong premium growth and improved productivity.\n\nTotal written premiums increased 14% to $1.34 billion and policies in force grew 15% to 2.1 million, pushing Adjusted EBITDA up 30% to $37.9 million with a 33% margin.\n\nManagement raised full-year 2026 guidance for total revenue growth to 12-19% and repurchased 95,000 shares during the quarter, leaving $144.6 million available under its buyback authorization.","key_figures":{"eps":0.42,"revenue":113400000,"guidance":"FY2026 total revenue growth 12-19% (raised), total written premiums growth 12-20%","revenueYoy":"21%","customDimensions":{"net_income":17000000,"adjusted_ebitda":37900000,"net_income_margin":"15%","policies_in_force":2100000,"total_written_premium":1340000000,"adjusted_ebitda_margin":"33%"}},"named_entities":{"people":[{"name":"Mark Miller","role":"CEO"},{"name":"Maddie Middleton","role":"Senior Director of Investor Relations"}],"products":[],"companies":[{"name":"Goosehead Insurance, Inc.","ticker":"GSHD"},{"name":"Mission North","relationship":"PR Contact"}],"dollarAmounts":[{"amount":"$113.4 million","context":"Q2 2026 total revenues"},{"amount":"$17.0 million","context":"Q2 2026 net income"},{"amount":"$37.9 million","context":"Q2 2026 adjusted EBITDA"},{"amount":"$1.34 billion","context":"Q2 2026 total written premiums"},{"amount":"$144.6 million","context":"remaining share repurchase authorization"},{"amount":"$40.95","context":"average share repurchase price"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-22T21:49:08.976Z","global_importance":35,"audience_relevance":40,"importance_components":{"tickerTier":"mid-cap-growth","eventGravity":"strong_beat_and_raise","sectorWeight":"financials","retailFavoriteBoost":true}},"durationMs":132525,"modelName":"glm-4.7"}}