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Hagerty, Inc. 10-Q Filings

HGTY NYSE

Every 10-Q that Hagerty, Inc. (HGTY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.

A 10-Q covers the quarterly report filed between annual reports, so if you follow HGTY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HGTY filings page.

Rhea-AI Summary

Hagerty, Inc. reported Q2 2026 revenue of about $354.8 million versus $379.3 million a year earlier, with net income of $8.0 million compared with $47.2 million. After non‑controlling interests and preferred stock accretion, Class A stockholders had a $1.7 million loss, or -$0.02 per share, versus $0.09.

For the first half of 2026, revenue was $666.7 million versus $707.6 million, and results shifted from net income of $74.5 million to a $4.7 million net loss. Net income attributable to Class A stockholders moved from $15.6 million profit to an $8.2 million loss, or -$0.08 per share. The shift reflects the Markel Fronting Arrangement, which eliminated Essentia commission revenue while increasing earned premium, losses, and underwriting expenses as Hagerty Re assumes 100% of related risk.

Operating cash flow rose to $186.2 million from $97.7 million, supporting cash and restricted cash of $467.6 million against $216.4 million of debt. Earned premium grew to $491.6 million for the half, while losses and loss adjustment expenses increased to $208.6 million. The marketplace segment grew revenue and produced pre‑tax profit, and reserve development was favorable by $6.1 million.

Rhea-AI Summary

Hagerty, Inc. reported first-quarter 2026 revenue of $311.8 million, down from $328.3 million a year earlier, and a net loss of $12.7 million versus prior net income of $27.3 million. Earned premium, net rose to $239.6 million, but higher losses, policy acquisition costs, and underwriting expenses pushed results negative.

Commission and fee revenue fell sharply to $16.4 million as the new Markel Fronting Arrangement shifted Essentia commission economics and Hagerty Re began assuming 100% of that risk. Basic and diluted EPS for Class A stockholders were ($0.06), compared with $0.07 a year earlier.

Operating cash flow remained positive at $16.3 million. Total assets were $2.0 billion with debt of $229.1 million and cash and restricted cash of $366.7 million. A $50.5 million loss portfolio transfer with Markel-generated Essentia liabilities is being recognized as deferred gain over future claim payments.

Rhea-AI Summary

Hagerty, Inc. (HGTY) reported stronger Q3 results. Total revenue reached $379.994 million, up from $323.374 million a year ago, driven by higher earned premium ($187.039 million), commission and fee revenue ($137.103 million), and membership, marketplace and other revenue ($55.852 million). Operating income improved to $34.317 million from $10.089 million.

Net income rose to $46.171 million from $19.007 million, aided by an income tax benefit of $32.834 million. Net income attributable to Class A common stockholders was $18.945 million, with basic EPS of $0.18 and diluted EPS of $0.11. Cash and restricted cash ended the period at $332.647 million. For additional context, shares outstanding were 100,511,893 Class A and 241,552,156 Class V as of October 24, 2025; this is a baseline figure, not the amount being offered.

Rhea-AI Summary

Hagerty, Inc. (HGTY) posted another growth quarter. Q2-25 revenue climbed 17.7% YoY to $368.7 million driven by double-digit gains across all lines: commission & fee +10.6%, earned premium +12.8%, and membership/marketplace/other +77.8%. Operating income rose 25.3% to $47.7 million as scale offset higher salaries (+11.0%) and sales expense (+40.4%). Net income improved 10.7% to $47.2 million; however, the large non-controlling interest share kept diluted EPS flat at $0.09.

Six-month results highlight sustained momentum. Revenue reached $688.3 million (+17.7%), operating income $73.4 million (+46.0%) and net income $74.5 million (+46.5%). Cash and cash equivalents grew to $140.3 million, while restricted cash rose to $190.3 million, taking total liquidity to $330.6 million. Total assets expanded 19% YTD to $2.04 billion. Leverage increased: long-term debt jumped 46% to $153.4 million, and operating cash flow fell 20% YoY to $97.7 million, reflecting higher working-capital needs (receivables, deferred acquisition costs). Preferred stock accretion and dividends ($7.5 million YTD) continue to weigh on Class A equity. Overall, Hagerty is growing rapidly in core MGA insurance and newer marketplace businesses, but investors should monitor rising expense intensity, leverage and cash-flow conversion.