Goosehead Insurance more than tripled quarterly profit and expanded margins sharply in its first-quarter results, as the personal lines brokerage leaned on its digital platform and named a new finance chief to anchor its next growth phase.
Net income reached $8 million, up from $2.6 million a year earlier. Earnings per share climbed 122% to $0.20, while adjusted EPS rose 45% to $0.37. Adjusted EBITDA grew 57% to $24.4 million, with the margin widening to 26% from 21%, per a regulatory filing summary from Stocktitan.
Total revenues rose 23% to $93.1 million. Core revenues, which strip out contingent commissions and franchise fees, rose 15% to $79.5 million. MarketBeat noted the adjusted EPS figure fell short of the $0.52 analyst consensus.
Total written premiums placed rose 13% to $1.1 billion, which Goosehead identifies as its leading indicator of future revenue. Policies in force increased 14% year over year to about 1.97 million, with client retention at 85%.
Corporate agent headcount grew 13% to 482, while total franchise producers expanded just 3% to 2,150, underscoring the tilt toward company-owned distribution.
CEO Mark Miller (pictured above) said the quarter marked another leap forward in building out the digital distribution platform.
President and COO Mark Jones Jr told analysts on the earnings call that clients can now digitally buy multiple homeowners products in Texas through carriers including SageSure and Mercury, following the earlier auto rollout with Progressive, Liberty Mutual, Mercury and Root.
Jones also disclosed that Lilly, the company's AI-powered virtual phone assistant, now fully resolves roughly 19% of inbound calls without transferring to a live agent.
The investors call flagged new business commissions growing 29% in the quarter, though it also noted that Goosehead's Net Promoter Score has been easing since late 2024 amid steep price rises in markets such as Texas.
Texas represented 37% of premium in the quarter, down from 39% in the prior quarter, Yahoo Finance reported, as the firm opened new corporate offices in Seattle, Washington D.C. and Minneapolis.
Goosehead named John Martin as chief financial officer, effective April 20. Per filing summary, Martin joined from RugsUSA, a private equity-backed e-commerce platform, where he served as CFO from November 2021, with earlier stints at Highbridge Capital Management, Providence Equity Partners and Morgan Stanley.
Miller, speaking on the earnings call as reported by The Motley Fool, said Martin brought a mix of financial expertise and a background rooted in technology and e-commerce that aligned with the firm's execution focus. Jones was promoted to president and COO as part of the same reshuffle.
Goosehead repurchased and retired 985,000 shares at an average price of $50.54 during the quarter for $49.8 million, with $148.5 million remaining under authorization. The buyback sits within a $180 million program running through May 1, 2027 that was previously announced alongside Q4 2025 results.
For full-year 2026, Goosehead is guiding to organic total revenue growth of 10% to 19% and total written premium growth of 12% to 20%.
