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HGTY • CIK 0001840776
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $44,772 | $93,682 | $139,182 | $34,332 |
| Income Tax Expense (Benefit) | $16,593 | $15,379 | $-10,043 | $-35,694 |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $28,179 | $78,303 | $149,225 | $70,026 |
| Net Income (Loss) Attributable to Noncontrolling Interest | $7,948 | $61,286 | $100,207 | $44,563 |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $16,554 | $9,590 | $41,463 | $17,680 |
| Premiums Earned, Net | $531,866 | $643,324 | $726,726 | $871,184 |
| Net Investment Income | — | $39,249 | $38,648 | $41,440 |
| Gain (Loss) on Investments | — | — | $3,064 | $7,075 |
| Revenues | $1,000,213 | $1,200,038 | $1,456,389 | $1,434,749 |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | $220,658 | $298,593 | $285,394 | $347,679 |
| Selling and Marketing Expense | $156,378 | $190,523 | $258,202 | $258,202 |
| Labor and Related Expense | $216,896 | $221,463 | $263,587 | $263,587 |
| General and Administrative Expense | $85,434 | $82,504 | $94,517 | $94,517 |
| Depreciation, Depletion and Amortization | $45,809 | $38,905 | $37,524 | $38,625 |
| Restructuring Costs and Asset Impairment Charges | $8,812 | $0 | $0 | $0 |
| Gain (Loss) on Disposition of Business | $-4,013 | $87 | $0 | $0 |
| Other Nonoperating Income (Expense) | $22,821 | $35,808 | $-40,896 | $-54,564 |
| Benefits, Losses and Expenses | $989,805 | $1,133,620 | $1,317,207 | $1,387,699 |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 26,820,000 | 266,228,000 | 10,744,000 | 4,183,000 |
| Fair Value Adjustment of Warrants | $-11,543 | — | — | $-5,731 |
| Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | $44,772 | $93,682 | — | $93,682 |
| Income (Loss) from Equity Method Investments | $0 | $0 | — | $0 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Debt Securities, Available-for-sale | — | $577,688 | $696,271 | $701,561 |
| EquitySecuritiesFvNiCurrentAndNoncurrent | — | — | $34,871 | $54,945 |
| Investments | — | — | $731,142 | $756,506 |
| Cash and Cash Equivalents, at Carrying Value | $108,326 | $104,784 | $160,177 | $298,302 |
| Restricted Cash and Cash Equivalents | $615,950 | $128,061 | $138,823 | $169,333 |
| Accounts Receivable, after Allowance for Credit Loss, Current | $71,530 | $84,763 | $96,205 | $27,313 |
| Premiums Receivable, Net | $137,525 | $153,748 | $180,529 | $120,382 |
| Deferred Policy Acquisition Cost | $141,637 | $156,466 | $179,224 | $100,196 |
| Reinsurance Recoverables, Gross | $2,800 | $2,200 | $15,296 | $12,346 |
| Prepaid Reinsurance Premiums | $10,474 | $18,521 | $21,950 | $49,846 |
| Financing Receivable, after Allowance for Credit Loss | $52,914 | $56,972 | $113,887 | $153,302 |
| Intangible Assets, Net (Excluding Goodwill) | $91,924 | $90,107 | $88,915 | $89,315 |
| Goodwill | $114,214 | $114,123 | $114,164 | $114,134 |
| Deferred Income Tax Assets, Net | — | — | $43,011 | $48,021 |
| Other Assets | $103,798 | $147,667 | $181,749 | $209,435 |
| Assets | $1,588,212 | $1,709,338 | $2,093,976 | $2,148,431 |
| Accounts Payable and Other Accrued Liabilities, Current | $87,175 | $73,383 | $111,947 | $89,829 |
| Reinsurance Payable | $62,001 | $98,386 | $95,353 | $241,705 |
| Liability for Claims and Claims Adjustment Expense | $136,507 | $168,492 | $168,851 | $241,705 |
| Unearned Premiums | $317,275 | $357,539 | $412,058 | $598,217 |
| Long-term Debt, Excluding Current Maturities | $130,680 | $104,968 | $177,907 | $215,951 |
| Contract with Customer, Liability | $47,651 | $47,239 | $46,450 | $50,841 |
| Deferred Income Tax Liabilities, Net | $15,937 | $18,065 | $23,489 | $244 |
| Other Liabilities | — | — | $61,684 | $95,213 |
| Liabilities | $1,094,867 | $1,101,169 | $1,346,950 | $1,413,625 |
| Commitments and Contingencies | $0 | $0 | $0 | $0 |
| Temporary Equity, Carrying Amount, Attributable to Parent | $82,836 | $84,663 | $86,618 | $84,996 |
| Additional Paid in Capital | $561,754 | $603,780 | $623,013 | $623,664 |
| Retained Earnings (Accumulated Deficit) | $-468,995 | $-451,978 | $-402,960 | $-407,171 |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $-88 | $-1,514 | $1,229 | $-1,068 |
| Stockholders' Equity Attributable to Parent | $92,704 | $150,322 | $221,316 | $215,459 |
| Stockholders' Equity Attributable to Noncontrolling Interest | $317,805 | $373,184 | $439,092 | $434,351 |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $410,509 | $523,506 | $660,408 | $649,810 |
| Debt Securities, Available-for-sale, Amortized Cost | — | $578,669 | $687,813 | $702,483 |
| Temporary Equity, Shares Authorized | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 |
| Temporary Equity, Shares Issued | 8,483,561 | 8,483,561 | 8,483,561 | 8,483,561 |
| Common Stock, Shares, Outstanding | 340,087,700 | 345,210,737 | — | 346,801,330 |
| DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss | $16,472 | $577,688 | $675,302 | $567,800 |
| Equity Securities, FV-NI, Restricted | — | $11,839 | $34,871 | $0 |
| Restricted Cash and Investments | — | $717,588 | $848,996 | $737,133 |
| Capital Expenditures Incurred but Not yet Paid | $282 | $723 | $1,693 | $792 |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $6,126 | $8,613 | $10,160 | $6,033 |
| Noncash or Part Noncash Acquisition, Other Liabilities Assumed | $2,142 | $0 | $0 | $0 |
| IncomeTaxPaidFederalAfterRefundReceived | — | — | $15,900 | $15,900 |
| IncomeTaxPaidStateAndLocalAfterRefundReceived | — | — | $447 | $447 |
| IncomeTaxPaidForeignAfterRefundReceived | — | — | $63 | $63 |
| Income Taxes Paid, Net | — | — | $16,410 | $18,009 |
| Restricted Cash and Cash Equivalents, Current | $615,950 | $128,061 | — | $172,261 |
| Financing Receivable, after Allowance for Credit Loss, Current | $35,896 | $45,417 | — | $94,158 |
| Other Assets, Noncurrent | $43,559 | $56,888 | — | $85,960 |
| Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $632 | $1,317 | $2,446 | $206 |
| Deferred Tax Assets, Gross | $184,172 | $193,602 | $228,446 | $228,446 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $28,179 | $78,303 | $149,225 | $70,026 |
| Net Cash Provided by (Used in) Operating Activities | $133,706 | $177,024 | $218,986 | $307,429 |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $865 | $-2,969 | $2,438 | $-104 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $185,085 | $-491,431 | $66,155 | $137,049 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $724,276 | $232,845 | $299,000 | $379,425 |
| Payments to Acquire Productive Assets | $26,403 | $21,344 | $24,535 | $28,940 |
| Payments to Acquire Businesses, Net of Cash Acquired | $8,683 | $25,120 | $1,619 | $1,619 |
| Payments to Acquire Notes Receivable | $24,939 | $65,770 | $74,714 | $140,248 |
| Depreciation, Depletion and Amortization | $45,809 | $38,905 | $37,524 | $38,625 |
| Proceeds from Collection of Notes Receivable | $10,357 | $59,788 | $37,733 | $84,903 |
| Deferred Income Tax Expense (Benefit) | $2,921 | $2,929 | $-34,503 | $-62,763 |
| Payments to Acquire Held-to-maturity Securities | $10,568 | $669,452 | $333,050 | $463,013 |
| Share-based Payment Arrangement, Noncash Expense | $18,017 | $17,357 | $18,908 | $19,080 |
| PaymentsToAcquireEquitySecuritiesFvNi | — | $10,861 | $21,890 | $72,584 |
| Proceeds from Sale and Maturity of Held-to-maturity Securities | $7,468 | $48,389 | $229,899 | $369,238 |
| Debt and Equity Securities, Realized Gain (Loss) | — | $2,223 | $3,064 | $7,075 |
| Payments for (Proceeds from) Other Investing Activities | $-121 | $-979 | $-2,979 | $-2,517 |
| Amortization of Debt Discount (Premium) | — | $-3,386 | $-4,146 | $-3,207 |
| Net Cash Provided by (Used in) Investing Activities | $-52,647 | $-618,564 | $-185,197 | $-236,060 |
| Other Noncash Income (Expense) | $1,459 | $-5,300 | $-1,297 | $-1,737 |
| Repayments of Long-term Debt | $139,850 | $90,775 | $187,881 | $125,194 |
| Proceeds from Issuance of Long-term Debt | $161,547 | $61,972 | $257,191 | $165,677 |
| Proceeds from Issuance of Preferred Stock and Preference Stock | $79,159 | $0 | $0 | $0 |
| Payments of Ordinary Dividends, Preferred Stock and Preference Stock | — | $5,600 | $5,600 | $5,600 |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | $5,836 | $3,854 | $4,653 |
| Proceeds from (Payments for) Other Financing Activities | — | $0 | $552 | $572 |
| Net Cash Provided by (Used in) Financing Activities | $103,161 | $-46,922 | $29,928 | $65,784 |
| Increase (Decrease) in Deferred Policy Acquisition Costs | $34,295 | $14,829 | $22,758 | $-78,234 |
| Increase (Decrease) in Reinsurance Recoverable | — | — | $3,369 | $-9,971 |
| Increase (Decrease) in Prepaid Reinsurance Premiums | — | — | $3,429 | $24,000 |
| Increase (Decrease) in Reinsurance Payables | $6,485 | $36,385 | $-3,033 | $-17,704 |
| Increase (Decrease) in Liability for Claims and Claims Adjustment Expense Reserve | $24,766 | $31,985 | $359 | $359 |
| Increase (Decrease) in Unearned Premiums | $81,813 | $40,264 | $54,519 | $187,721 |
| Increase (Decrease) in Other Operating Assets and Liabilities, Net | $9,958 | $65,593 | $-28,042 | $4,107 |
| Income Taxes Paid, Net | — | — | $16,410 | $22,625 |
| IncomeTaxPaidStateAndLocalAfterRefundReceived | — | — | $447 | $447 |