HGTY (Hagerty, Inc.) Stock Financials & Earnings | Market Cap Arena

HGTY (Hagerty, Inc.) Stock Financials & Earnings | Market Cap Arena

HGTYHagerty, Inc.

Mkt Cap$3B

Financial Services·Insurance - Property & Casualty·🇺🇸 United States·NYSE

Revenue (TTM)$1.4B

Net Income (TTM)$49M

EPS (TTM)$0.37

Free Cash Flow (TTM)$194M

Gross Margin80.0%

Op. Margin9.8%

Net Margin3.4%

FCF Margin13.6%

P/S Ratio (TTM)2.4x

P/E Ratio (TTM)68.9x

YoY Rev Growth+19.6%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$218M	$169M	-$11M
Q2 23	$259M	$206M	$19M
Q3 23	$276M	$219M	$23M
Q4 23	$258M	$197M	$14M
Q1 24	$266M	$203M	$13M
Q2 24	$311M	$247M	$48M
Q3 24	$323M	$223M	$18M
Q4 24	$292M	$220M	$14M
Q1 25	$320M	$248M	$33M
Q2 25	$369M	$293M	$53M
Q3 25	$380M	$301M	$13M
Q4 25	$357M	$297M	$40M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	4.2x	1365.9x
Q2 23	3.8x	324.3x
Q3 23	3.5x	3206.6x
Q4 23	3.3x	166.9x
Q1 24	3.2x	160.9x
Q2 24	3.0x	116.6x
Q3 24	2.9x	118.5x
Q4 24	2.8x	198.4x
Q1 25	2.7x	126.3x
Q2 25	2.6x	123.5x
Q3 25	2.5x	78.0x
Q4 25	2.4x	68.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$12M	$4M
Q2 23	$59M	$51M
Q3 23	$62M	$56M
Q4 23	$13M	$8M
Q1 24	$58M	$54M
Q2 24	$64M	$57M
Q3 24	$67M	$62M
Q4 24	-$13M	-$17M
Q1 25	$44M	$38M
Q2 25	$54M	$48M
Q3 25	$92M	$85M
Q4 25	$29M	$23M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$8M
Q2 23	$8M
Q3 23	$5M
Q4 23	$5M
Q1 24	$5M
Q2 24	$7M
Q3 24	$5M
Q4 24	$4M
Q1 25	$5M
Q2 25	$6M
Q3 25	$7M
Q4 25	$6M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+18.9%	+38.6%
Q2 23	+40.9%	+28.0%
Q3 23	+35.2%	+40.4%
Q4 23	+28.3%	+6.1%
Q1 24	+21.9%	+10.1%
Q2 24	+20.0%	+9.4%
Q3 24	+16.8%	+20.4%
Q4 24	+13.1%	+13.7%
Q1 25	+20.3%	+13.7%
Q2 25	+18.4%	+20.0%
Q3 25	+17.7%	+20.2%
Q4 25	+22.5%	+14.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$4M	1.3%
Q4 24	$4M	1.5%
Q1 25	$4M	1.4%
Q2 25	$5M	1.4%
Q3 25	$5M	1.3%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q3 24	$68M	$59M
Q4 24	$81M	$44M
Q1 25	$81M	$55M
Q2 25	$87M	$67M
Q3 25	$93M	$78M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$507M	$0	$507M
Q2 23	$632M	$0	$632M
Q3 23	$686M	$0	$686M
Q4 23	$724M	$0	$724M
Q1 24	$727M	$0	$727M
Q2 24	$316M	$0	$316M
Q3 24	$147M	$62M	$209M
Q4 24	$105M	$74M	$179M
Q1 25	$128M	$105M	$233M
Q2 25	$140M	$119M	$260M
Q3 25	$160M	$130M	$291M
Q4 25	$299M	$0	$299M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	83M	+0.0%
Q2 23	86M	+2.8%
Q3 23	84M	-1.3%
Q4 23	347M	+311.3%
Q1 24	85M	-75.6%
Q2 24	86M	+1.2%
Q3 24	90M	+4.7%
Q4 24	90M	+0.4%
Q1 25	346M	+284.7%
Q2 25	91M	-73.8%
Q3 25	347M	+282.9%
Q4 25	102M	-70.5%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 20	—	—
FY 21	$346K	2K
FY 22	$443K	2K
FY 23	$584K	2K
FY 24	$683K	2K
FY 25	$770K	2K