Goosehead Insurance (GSHD) Q3 2025 earnings summary

Executive summary

• Achieved strong Q3 2025 results with total revenue up 16% to $90.4 million, net income at $12.7 million, and Adjusted EBITDA up 14% to $29.7 million; continued execution toward long-term growth goals.

• Industry remains highly fragmented, providing significant runway for market share expansion.

• Strategic initiatives focused on franchise growth, technology investment, and expanding corporate and enterprise sales channels.

• Technology advancements, including the Digital Agent platform, and an embedded franchise partnership with a top 20 US mortgage lender, are expected to drive scalable growth and efficiency.

• Corporate sales headcount increased 14% to 523, while total operating franchises decreased 4% to 1,068, driving higher productivity.

Financial highlights

• Q3 2025 revenue grew 16% YoY to $90.4M; core revenue up 14% to $83.9M; Adjusted EBITDA up 14% to $29.7M with a 33% margin.

• Net income for Q3 was $12.7M, representing a 14% margin; Adjusted EPS was $0.46.

• Total Written Premium reached $1.2B, up 15% YoY; franchise premiums up 18%, corporate premiums up 1%.

• Policies in Force increased 13% YoY to 1,853,000.

• Cash and cash equivalents at quarter-end were $51.6M; total debt was $299M.

Outlook and guidance

• Full-year 2025 revenue guidance reiterated at $350M–$385M (organic growth 11%–22%).

• Total Written Premiums for 2025 expected at $4.38B–$4.65B (organic growth 15%–22%).

• Revenue contributions from Digital Agent expected in H2 2026, with acceleration in 2027 and beyond.

• Anticipates 40%+ Total Written Premium growth within five years driven by digital initiatives.

• Management expects continued growth in Core Revenue and Policies in Force, driven by increased agent headcount and franchise productivity.