Welcome to our dedicated page for Selectquote news (Ticker: SLQT), a resource for investors and traders seeking the latest updates and insights on Selectquote stock.
SelectQuote Inc (SLQT) operates a leading technology-driven insurance distribution platform, providing consumers with unbiased comparisons across life, senior, and property insurance products. This news hub offers investors and industry observers centralized access to official updates and strategic developments from the commission-based innovator.
Track key announcements including quarterly earnings, carrier partnerships, and technology initiatives that shape the company's position in insurance markets. The curated news collection serves as a reliable resource for understanding operational milestones across SelectQuote's core segments: Senior, Healthcare Services, Life, and Auto & Home insurance.
Discover updates on leadership changes, regulatory compliance developments, and product expansion efforts that demonstrate SelectQuote's commitment to simplifying insurance access through its agent-supported platform. Content is rigorously verified to ensure accuracy and relevance for both professional analysts and casual observers.
Bookmark this page for streamlined access to SelectQuote's evolving business narrative. Check regularly for neutral, factual reporting on how the company continues leveraging technology to transform insurance shopping experiences while maintaining partnerships with highly-rated carriers.
SelectQuote, Inc. (NYSE: SLQT) has completed a $100 million securitization transaction on October 15, 2024. This transaction provides advanced financing against expected collections for previously sold policies. The company's receivables totaled approximately $1 billion as of June 30, 2024, with only a portion securitized in this deal.
The proceeds will be used to pay down a portion of outstanding term debt. The new securitized debt offers a lower cost of capital than the current term debt. The transaction also includes a maturity extension for the remaining term debt from September 15, 2025 to September 30, 2027, with a potential further extension to September 30, 2028.
SelectQuote has hired an investment bank to conduct a strategic review of all available options to meet payment milestones, strengthen the balance sheet, and fund continued investment in core business lines.
SelectQuote (NYSE: SLQT) reported Q4 FY2024 results with revenue of $307.2 million, up from $221.8 million in Q4 FY2023. The company posted a net loss of $31.0 million, improved from a $47.8 million loss last year. Adjusted EBITDA was $14.4 million, compared to -$5.8 million in Q4 FY2023.
For full FY2024, revenue reached $1.3 billion, up from $1.0 billion in FY2023. Net loss narrowed to $34.1 million from $58.5 million. Adjusted EBITDA grew to $117.0 million from $74.3 million.
The company provided FY2025 guidance, projecting revenue of $1.4-$1.5 billion, net loss of $42-$6 million, and Adjusted EBITDA of $90-$120 million. SelectQuote also announced plans for a $100 million commissions receivable securitization to optimize its balance sheet.
SelectQuote, Inc. (NYSE: SLQT), a leading distributor of Medicare insurance policies and owner of an emerging Healthcare Services platform, has announced the release of its fiscal fourth quarter and full year 2024 financial results. The results will be disclosed before market open on Friday, September 13, 2024. Following the release, CEO Tim Danker and CFO Ryan Clement will host a conference call at 8:30 am ET on the same day to discuss the results.
Interested parties can register for the conference call using the provided link. The event will also be webcasted live via SelectQuote's investor relations website. This announcement provides investors and analysts with an opportunity to gain insights into the company's financial performance and future outlook.
SelectQuote (NYSE: SLQT) announced that its full-service medication management pharmacy, SelectRx, will open a third fulfillment facility in Olathe, Kansas, to support its rapid growth. The new 54,000 square foot state-of-the-art facility is expected to open in the first half of 2025, significantly expanding the pharmacy's capacity. SelectQuote plans to add over 50 new positions at the location, including pharmacists, pharmacy fulfillment technicians, and various support roles.
Since its launch in 2021, SelectRx has grown its membership from under 5,000 to over 75,000 members who receive regular prescription shipments in adherence-friendly packaging. In 2023, SelectRx was recognized as a Patient-Centered Pharmacy Home (PCPH) by The Compliance Team, emphasizing health maintenance, preventative screening, and medication management for chronically-ill patients.
SelectQuote, Inc. reported a strong third quarter of fiscal year 2024 with consolidated revenue of $376.4 million, net income of $8.6 million, and Adjusted EBITDA of $46.6 million. The company raised its Fiscal Year 2024 guidance ranges for revenue, net loss, and Adjusted EBITDA. The Senior segment showed impressive results with revenue of $204.3 million and Adjusted EBITDA of $61.5 million. The Healthcare Services segment saw revenue of $124.2 million and an Adjusted EBITDA of $1.6 million, with significant growth in SelectRx members. Life segment revenue was $40.7 million, while the Auto & Home segment revenue reached $9.1 million. CEO Tim Danker expressed confidence in the company's performance and outlook for shareholder value.
SelectQuote, Inc. (NYSE: SLQT) announced the release date of its fiscal third quarter 2024 financial results and the presentation at RBC's Global Healthcare Conference. The earnings call will be held on May 9, 2024, at 9:00 am ET, hosted by CEO Tim Danker and CFO Ryan Clement. The company will also participate in a fireside chat at the conference on May 15, 2024.
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