Goosehead Insurance, an independent personal lines insurance agency, has reported robust financial results for the first quarter of 2025, with total revenues reaching $75.6 million – up 17% from the same period last year.
Core revenues, which exclude contingent commissions and other one-time items, also rose 17% to $69.1 million, driven by improved franchise productivity, rising premium rates, and strong client retention of 84%.
Total written premiums rose 22% year-over-year, reaching $1.0 billion for the quarter. Goosehead continues to scale its platform, with policies in force climbing 13% to approximately 1.73 million. Corporate agent headcount jumped 46% to 426, while total franchise producers increased 7% to 2,097.
The company achieved a combined net income of $2.6 million, up from $1.8 million a year earlier, with a net income margin of 4%. Earnings per share came in at $0.09, up from $0.07 in Q1 2024. Adjusted EBITDA climbed to $15.5 million, up from $11.7 million a year earlier.
Premium growth was supported by higher renewal commissions ($16.95 million) and royalty fees ($37.24 million), as well as gains in new business commissions and fees.
Goosehead reported net interest income of $189,000 for the quarter, slightly down from $250,000 in the prior year. The company’s total net income attributable to shareholders was $2.34 million.
The company reaffirmed its full-year guidance, projecting total written premiums between $4.65 billion and $4.88 billion, representing annual growth of 22% to 28%. Revenue for the year is expected to be between $350 million and $385 million, or growth of 11% to 22% over 2024 levels.
Mark Miller, President and CEO, said: “At Goosehead, our strong growth comes from delivering exceptional value to clients, agents and partners. For the first quarter we drove premium growth of 22% with total and core revenue* up 17%.
“Net Income increased 46% for the quarter and Adjusted EBITDA for the quarter increased 32%. Net Income Margin was 4% and adjusted EBITDA margin expanded 300 basis points to 21%. During the quarter we invested meaningfully in our production force, service function, technology initiatives, and AI-driven tools to enhance the personal lines experience across all our key stakeholders.
“We currently place roughly $4 billion in annual premium—still less than 1% of the over $500 billion U.S. personal lines market. We believe our runway is enormous and our competitive moat in the marketplace continues to expand. I could not be more excited for our company’s future as we progress towards our goal of becoming the largest distributor of personal lines in the US.”
