SelectQuote Q1 revenue falls 15%; net loss $20.3M

SelectQuote expects fiscal 2027 operating cash flow to be more than $60 million, alongside revenue guidance of $1.35 billion to $1.45 billion.

Available on EDGAR 11/04/2026 - 07:14 AM EST Accepted by SEC EDGAR 11/04/2026 - 07:13 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

SelectQuote, Inc. (SLQT) reported first-quarter fiscal 2027 revenue of $280.0 million, down 15% from $328.8 million a year earlier. Net loss narrowed to $20.3 million from $30.5 million, while adjusted EBITDA loss narrowed to $17.0 million from $32.1 million. Cash used in operations was $17.2 million, compared with $21.6 million.

Healthcare Services generated $186.3 million in revenue and $11.2 million in adjusted EBITDA, up 56% year over year; Senior revenue was $50.8 million and adjusted EBITDA was a $12.3 million loss; Life revenue was $42.8 million and adjusted EBITDA was $7.3 million. SelectRx had 99,753 members as of September 30, 2026, and profitability per member was $107.6, compared with $67.1 a year earlier.

For fiscal 2027, SelectQuote expects revenue of $1.35 billion to $1.45 billion, adjusted EBITDA of $90 million to $115 million and operating cash flow above $60 million. Adjusted EBITDA is a non-GAAP measure; management says forward-looking adjusted EBITDA cannot be quantitatively reconciled to GAAP without unreasonable effort.

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Positive

• Moderate pointAdjusted EBITDA loss narrowed to $17.0 million from $32.1 million year over year.
• Moderate pointOperating cash used was $17.2 million, versus $21.6 million a year earlier.

Negative

• Moderate pointRevenue declined 15% year over year to $280.0 million.

Filing Explained

At September 30, 2026, SelectQuote reported 350,000 senior non-convertible preferred shares outstanding and a $438.6 million liquidation preference, and $20,161 thousand in accumulated dividends and accretion accompanied a quarterly loss attributable to common shareholders of $40,462 thousand, versus a consolidated net loss of $20,301 thousand.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revenue: $280.0 million Net loss: $20.3 million loss Adjusted EBITDA: $17.0 million loss +4 more

7 metrics

Revenue $280.0 million Quarter ended September 30, 2026; compared with $328.8 million a year earlier

Net loss $20.3 million loss Quarter ended September 30, 2026; compared with $30.5 million loss a year earlier

Adjusted EBITDA $17.0 million loss Non-GAAP measure; compared with $32.1 million loss a year earlier

Cash used in operations $17.2 million Quarter ended September 30, 2026; compared with $21.6 million a year earlier

Fiscal 2027 revenue guidance $1.35 billion to $1.45 billion Expected range

Fiscal 2027 adjusted EBITDA guidance $90 million to $115 million Expected range; non-GAAP measure

Fiscal 2027 operating cash flow guidance More than $60 million Expected

Key Terms

Adjusted EBITDA, Lifetime value of commissions per approved policy, revenue to customer acquisition cost (CAC) multiple

3 terms

Adjusted EBITDA financial

"Adjusted EBITDA, which, when presented on a consolidated basis, is a non-GAAP financial measure"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Lifetime value of commissions per approved policy financial

"Lifetime value of commissions per approved policy represents commissions estimated to be collected"

revenue to customer acquisition cost (CAC) multiple financial

"The revenue to customer acquisition cost (CAC) multiple represents total revenue as a multiple"

Earnings Snapshot

Revenue: $280.0 million · Guidance included

First quarter fiscal 2027 ended September 30, 2026

Revenue $280.0 million Down 15% year over year

Net loss $20.3 million loss Compared with a $30.5 million loss in the prior-year quarter

Adjusted EBITDA $17.0 million loss $15 million higher year over year

Cash used in operations $17.2 million Compared with $21.6 million in the prior-year quarter

Guidance

Fiscal 2027 revenue expected at $1.35 billion to $1.45 billion; adjusted EBITDA expected at $90 million to $115 million; operating cash flow expected to be more than $60 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue and net loss did SLQT report for Q1 fiscal 2027?

SelectQuote reported $280.0 million in revenue and a $20.3 million net loss for the quarter ended September 30, 2026. Revenue was down 15% from $328.8 million, while net loss narrowed from $30.5 million a year earlier.

What is SLQT's fiscal 2027 guidance?

SelectQuote expects fiscal 2027 revenue of $1.35 billion to $1.45 billion, adjusted EBITDA of $90 million to $115 million, and operating cash flow of more than $60 million.

How many SelectRx members did SLQT have?

SelectQuote reported 99,753 SelectRx members as of September 30, 2026. Profitability per member was $107.6, compared with $67.1 a year earlier.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0001794783false00017947832026-11-042026-11-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________________________

FORM 8-K

_______________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 4, 2026

_____________________________________

SELECTQUOTE, INC.

(Exact name of registrant as specified in its charter)

_____________________________________

Delaware			001-39295			94-3339273
(State or other jurisdiction of incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)
6800 West 115th Street, Suite 2511
Overland Park, Kansas 66211
(Address of principal executive offices) (Zip code)
(913) 599-9225
(Registrant’s telephone number, including area code)
No change since last report
(Former Name or Address, If Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, $0.01 par value

SLQT

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02    Results of Operations and Financial Condition.

On November 4, 2026, SelectQuote, Inc. reported its financial results for the first quarter ended September 30, 2026. Copies of the related press release and investor presentation are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.

These exhibits are being furnished pursuant to Item 2.02, and the information contained therein shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall either of them be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.			Description of Exhibit
99.1			Press Release
99.2			Investor Presentation
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SELECTQUOTE, INC.

Date: November 4, 2026			By: /s/ Ryan M. Clement
			Name: Ryan M. Clement
			Title: Chief Financial Officer

Exhibit 99.1

SelectQuote, Inc. Reports First Quarter of Fiscal Year 2027 Results

First Quarter of Fiscal Year 2027 – Consolidated Earnings Highlights

•Revenue of $280.0 million

•Net loss of $(20.3) million

•Adjusted EBITDA* of $(17.0) million

Fiscal Year 2027 Guidance Ranges:

•Revenue expected in the range of $1.35 billion to $1.45 billion

•Adjusted EBITDA* expected in the range of $90 million to $115 million

•Operating Cash Flow expected to be more than $60 million

First Quarter Fiscal Year 2027 – Segment Highlights

Senior

•Revenue of $50.8 million

•Adjusted EBITDA of $(12.3) million

•Approved Medicare Advantage policies of 50,976

Healthcare Services

•Revenue of $186.3 million

•Adjusted EBITDA of $11.2 million

•99,753 SelectRx members

Life

•Revenue of $42.8 million

•Adjusted EBITDA of $7.3 million

OVERLAND PARK, Kan., November 4, 2026--(BUSINESS WIRE)--SelectQuote, Inc. (NYSE: SLQT) reported consolidated revenue for the first quarter of fiscal year 2027 of $280.0 million compared to consolidated revenue for the first quarter of fiscal year 2026 of $328.8 million. Consolidated net loss for the first quarter of fiscal year 2027 was $20.3 million compared to consolidated net loss for the first quarter of fiscal year 2026 of $30.5 million. Consolidated Adjusted EBITDA* for the first quarter of fiscal year 2027 was $(17.0) million compared to consolidated Adjusted EBITDA* for the first quarter of fiscal year 2026 of $(32.1) million. Consolidated cash used in operations during the first quarter of fiscal year 2027 was $17.2 million compared to $21.6 million used during the first quarter of fiscal year 2026.

Tim Danker, SelectQuote’s Chief Executive Officer, remarked, “We are proud of another strong quarter across both our Senior and Healthcare Services segments, resulting in a material year-over-year improvement in adjusted EBITDA and operating cash flow. We have high confidence in our current and long-term strategy to drive value for stakeholders, and we are pleased to reiterate our full-year financial targets for fiscal 2027. Our confidence stems primarily from growing efficiencies and process management that are within our control. The company’s foundational commitment to technology- and agent-led service have increasingly driven operating leverage in our business, which has only been accelerated through the use of AI. Now that AEP has kicked off, we are excited to see that our tenured agent force is helping a highly-engaged Medicare beneficiary population find the right plans to meet their unique needs. We firmly believe SelectQuote is well-positioned to drive meaningful growth in profit and cash flow for shareholders, both in fiscal 2027 and in an improving Medicare Advantage environment which we believe is on the horizon.”

Mr. Danker continued, “SelectQuote’s performance, in our seasonally slowest quarter, showcases the continued impact of our strategy to optimize profitability and cash flow. Despite lower revenue across both Senior and Healthcare Services, SelectQuote drove a 30% improvement in our year-over-year trailing twelve month adjusted EBITDA, and we remain on track to drive over $60 million in operating cash flow in fiscal 2027. Better yet, we are achieving these results in an environment where we strategically lowered agent headcount for Senior and continue to scale Healthcare Services despite the revenue headwind from the Inflation Reduction Act.”

* See “Non-GAAP Financial Measures” below.

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Segment Results

We currently have three reportable segments: 1) Senior, 2) Healthcare Services and 3) Life. The performance measures of the segments include total revenue and adjusted EBITDA. Costs of commissions and other services revenue, cost of goods sold-pharmacy revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses that are directly attributable to a segment are reported within the applicable segment. Indirect costs of revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses are allocated to each segment based on varying metrics such as headcount.

Senior

Financial Results

The following table provides the financial results for the Senior segment for the periods presented:

			Three Months Ended September 30,
(in thousands)			2026						2025						% Change
Revenue			$	50,806					$	58,996					(14)		%
Adjusted EBITDA			(12,303)						(21,036)						42		%
Adjusted EBITDA Margin			(24)		%				(36)		%

Operating Metrics

Submitted Policies

Submitted policies are counted when an individual completes an application with our licensed agent and provides authorization to the agent to submit the application to the insurance carrier partner. The applicant may have additional actions to take before the application will be reviewed by the insurance carrier.

The following table shows the number of submitted policies for the periods presented:

			Three Months Ended September 30,
			2026						2025						% Change
Medicare Advantage			54,459						70,240						(22)		%
All other (1)			12,035						17,174						(30)		%
Total			66,494						87,414						(24)		%

(1) Represents the submitted policies for Medicare supplement, dental, vision and hearing, prescription drug plan and other.

Approved Policies

Approved policies represents the number of submitted policies that were approved by our insurance carrier partners for the identified product during the indicated period. Not all approved policies will go in force.

The following table shows the number of approved policies for the periods presented:

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			Three Months Ended September 30,
			2026						2025						% Change
Medicare Advantage			50,976						62,510						(18)		%
All other (1)			8,434						13,876						(39)		%
Total			59,410						76,386						(22)		%

(1) Represents the approved policies for Medicare supplement, dental, vision and hearing, prescription drug plan and other.

Lifetime Value of Commissions per Approved Policy

Lifetime value of commissions per approved policy represents commissions estimated to be collected over the estimated life of an approved policy based on multiple factors, including but not limited to, contracted commission rates, carrier mix and expected policy persistency with applied constraints. The lifetime value of commissions per approved policy is equal to the sum of the commission revenue due upon the initial sale of a policy, and when applicable, an estimate of future renewal commissions.

The following table shows the lifetime value of commissions per approved policy for the periods presented:

			Three Months Ended September 30,
(dollars per policy):			2026						2025						% Change
Medicare Advantage			$	890					$	769					16		%
All other(1)			161						133						21		%

(1) Represents the weighted average LTV per approved policy.

Healthcare Services

Financial Results

The following table provides the financial results for the Healthcare Services segment for the periods presented:

			Three Months Ended September 30,
(in thousands)			2026						2025						% Change
Revenue			$	186,278					$	221,351					(16)		%
Adjusted EBITDA			11,231						7,212						56		%
Adjusted EBITDA Margin			6		%				3		%

Operating Metrics

Members

The total number of SelectRx members represents the amount of active customers to which an order has been shipped and the prescriptions per day represents the total average prescriptions shipped per business day. These two metrics are the primary drivers of revenue for Healthcare Services.

The following table shows the total number of SelectRx members as of the periods presented:

						September 30, 2026						September 30, 2025
Total SelectRx Members						99,753						106,914

The total number of SelectRx members decreased by 7% as of September 30, 2026, compared to September 30, 2025, primarily due to refined customer qualification with a focus on long-term profitability and operational efficiency. Profitability per SelectRx member increased 60% compared to a year ago from $67.1 per member to $107.6 per member. Profitability per member is calculated as Healthcare Services divisional Adjusted EBITDA for

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the period divided by average members, represented by the mean of ending membership in the prior period and ending membership in the current period.

The following table shows the average prescriptions shipped per day for the periods presented:

						Three Months Ended September 30,
						2026						2025
Prescriptions Per Day						28,139						31,378

Combined Senior and Healthcare Services - Consumer Per Unit Economics

Combined Senior and Healthcare Services consumer per unit economics represents total MA and MS commissions; other product commissions; other revenues, including revenues from Healthcare Services; and operating expenses associated with Senior and Healthcare Services, each shown per number of approved MA and MS policies over a given time period. Management assesses the business on a per-unit basis to help ensure that the revenue opportunity associated with a successful policy sale is attractive relative to the marketing acquisition cost. Because not all acquired leads result in a successful policy sale, all per-policy metrics are based on approved policies, which is the measure that triggers revenue recognition.

The MA and MS commission per MA/MS policy represents the LTV for policies sold in the period. Other commission per MA/MS policy represents the LTV for other products sold in the period, including DVH prescription drug plan, and other products, which management views as additional commission revenue on our agents’ core function of MA/MS policy sales. Pharmacy revenue per MA/MS policy represents revenue from SelectRx, and other revenue per MA/MS policy represents revenue from Healthcare Select, production bonuses, marketing development funds, lead generation revenue, and adjustments from the Company’s reassessment of its cohorts’ transaction prices. Total operating expenses per MA/MS policy represents all of the operating expenses within Senior and Healthcare Services. The revenue to customer acquisition cost (“CAC”) multiple represents total revenue as a multiple of total marketing acquisition cost, which represents the direct costs of acquiring leads. These costs are included in marketing and advertising expense within the total operating expenses per MA/MS policy.

The following table shows combined Senior and Healthcare Services consumer per unit economics for the periods presented. Based on the seasonality of Senior and the fluctuations between quarters, we believe that the most relevant view of per unit economics is on a rolling 12-month basis. All per MA/MS policy metrics below are based on the sum of approved MA/MS policies, as both products have similar commission profiles.

			Twelve Months Ended September 30,
(dollars per approved policy):			2026						2025
MA and MS approved policies			558,128						565,529
MA and MS commission per MA / MS policy			$	888					$	884
Other commission per MA/MS policy			9						13
Pharmacy revenue per MA/MS policy			1,427						1,405
Other revenue per MA/MS policy			144						129
Total revenue per MA / MS policy			2,468						2,431
Total operating expenses per MA / MS policy			(2,135)						(2,147)
Adjusted EBITDA per MA/MS policy			$	333					$	284
Adjusted EBITDA Margin per MA/MS policy			13		%				12		%
Revenue / CAC multiple			7X						6.4X

Total revenue per MA/MS policy increased 2% for the twelve months ended September 30, 2026, compared to the twelve months ended September 30, 2025, primarily due to the increase in pharmacy revenue during the twelve

4

month period. Total operating expenses per MA/MS policy decreased 1% for the twelve months ended September 30, 2026, compared to the twelve months ended September 30, 2025.

Life

Financial Results

The following table provides the financial results for the Life segment for the periods presented:

			Three Months Ended September 30,
(in thousands)			2026						2025						% Change
Revenue			$	42,799					$	46,647					(8)		%
Adjusted EBITDA			7,294						5,570						31		%
Adjusted EBITDA Margin			17		%				12		%

Operating Metrics

Life premium represents the total premium value for all policies that were approved by the relevant insurance carrier partner and for which the policy document was sent to the policyholder and payment information was received by the relevant insurance carrier partner during the indicated period. Because our commissions are earned based on a percentage of total premium, total premium volume for a given period is the key driver of revenue for our Life segment.

The following table shows term and final expense premiums for the periods presented:

			Three Months Ended September 30,
(in thousands)			2026						2025						% Change
Term Premiums			$	18,448					$	19,443					(5)		%
Final Expense Premiums			20,059						29,429						(32)		%
Total			$	38,507					$	48,872					(21)		%

Earnings Conference Call

SelectQuote, Inc. will host a conference call with the investment community on November 4, 2026, beginning at 8:30 a.m. ET. We encourage interested parties to access the live webcast of the event via our investor relations website https://ir.selectquote.com/investor-home/default.aspx or via this link: https://events.q4inc.com/attendee/147967155.

For those interested in dialing into the conference call, please register using this link: https://events.q4inc.com/analyst/147967155?pwd=mzE1TBCI. After registering, a confirmation will be sent via email, including dial-in details and unique conference call codes for entry. Registration is open through the live call, but to ensure you are connected for the full call we suggest registering at least 10 minutes before the start of the call.

Non-GAAP Financial Measures

This release includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. To supplement our financial statements presented in accordance with GAAP and to provide investors with additional information regarding our GAAP financial results, we have presented in this release Adjusted EBITDA, which, when presented on a consolidated basis, is a non-GAAP financial measure. This non-GAAP financial measure is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to any similarly titled measure presented by other companies. We define Adjusted EBITDA as net income (loss) plus interest expense, income taxes, depreciation and amortization, changes in fair value of warrant liabilities, loss on extinguishment of debt, and certain add-backs for non-cash or non-recurring expenses, including restructuring and share-based compensation expenses. The most directly comparable GAAP measure is net income

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(loss). We monitor and have presented in this release Adjusted EBITDA because it is a key measure used by our management and Board of Directors to understand and evaluate our operating performance, establish budgets, and develop operational goals for managing our business. In particular, we believe that excluding the impact of these expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core operating performance.

A reconciliation of the differences between Adjusted EBITDA and its most directly comparable GAAP measure, net income (loss), is presented below on page 12. The Company is unable to provide a quantitative reconciliation of forward-looking Adjusted EBITDA to its most directly comparable GAAP measure without unreasonable effort because it is not possible to predict certain information included in the calculation of such GAAP measure, including the fair value of outstanding warrants to purchase shares of the Company's common stock. The unavailable information could have a significant impact on the Company’s GAAP financial results.

Forward Looking Statements

This release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: our reliance on a limited number of insurance carrier partners and any potential termination of those relationships or failure to develop new relationships; existing and future laws and regulations affecting the health insurance market; changes in health insurance products offered by our insurance carrier partners and the health insurance market generally; insurance carriers offering products and services directly to consumers; changes to commissions paid by insurance carriers and underwriting practices; competition with brokers, exclusively online brokers and carriers who opt to sell policies directly to consumers; competition from government-run health insurance exchanges; developments in the U.S. health insurance system; our dependence on revenue from carriers in our senior segment and downturns in the senior health as well as life, automotive and home insurance industries; our ability to develop new offerings and penetrate new vertical markets; risks from third-party products; failure to enroll individuals during the Medicare annual enrollment period; our ability to attract, integrate and retain qualified personnel; our dependence on lead providers and ability to compete for leads; failure to obtain and/or convert sales leads to actual sales of insurance policies; access to data from consumers and insurance carriers; accuracy of information provided from and to consumers during the insurance shopping process; cost-effective advertisement through internet search engines; ability to contact consumers and market products by telephone; our use of artificial intelligence and other emerging technologies; global economic conditions, including inflation; disruption to operations as a result of future acquisitions; significant estimates and assumptions in the preparation of our financial statements; impairment of goodwill; potential litigation and other legal proceedings or inquiries; our existing and future indebtedness; our ability to maintain compliance with our debt covenants; access to additional capital; our ability to regain and maintain compliance with NYSE listing standards; failure to protect our intellectual property and our brand; fluctuations in our financial results caused by seasonality; accuracy and timeliness of commissions reports from insurance carriers; timing of insurance carriers’ approval and payment practices; factors that impact our estimate of the constrained lifetime value of commissions per policyholder; changes in accounting rules, tax legislation and other legislation; disruptions or failures of our technological infrastructure and platform; failure to maintain relationships with third-party service providers; cybersecurity breaches or other attacks involving our systems or those of our insurance carrier partners or third-party service providers; our ability to protect consumer information and other data; failure to market and sell Medicare plans effectively or in compliance with laws; and other factors related to our pharmacy business, including manufacturing or supply chain disruptions, access to and demand for prescription drugs, changes in reimbursement rates under our contracts with pharmacy benefit managers, and regulatory changes or other industry developments that may affect our pharmacy operations. For a further

6

discussion of these and other risk factors that could impact our future results and performance, see the section entitled “Risk Factors” in the most recent Annual Report on Form 10-K (the “Annual Report”) and subsequent periodic reports filed by us with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

About SelectQuote:

Founded in 1985, SelectQuote (NYSE: SLQT) pioneered the model of providing unbiased comparisons from multiple, highly-rated insurance companies, allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin SelectQuote’s success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources and routes high-quality leads. Today, the Company operates an ecosystem offering high touchpoints for consumers across insurance, pharmacy, and virtual care.

With an ecosystem offering engagement points for consumers across insurance, Medicare, pharmacy, and value-based care, the company now has three core business lines: SelectQuote Senior, SelectQuote Healthcare Services, and SelectQuote Life. SelectQuote Senior serves the needs of a demographic that sees around 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans. SelectQuote Healthcare Services is comprised of the SelectRx Pharmacy, a Patient-Centered Pharmacy Home™ (PCPH) accredited pharmacy, SelectPatient Management, a provider of chronic care management services, and Healthcare Select which proactively connects consumers with a wide breadth of healthcare services supporting their needs.

Investor Relations:

Sloan Bohlen

877-678-4083

investorrelations@selectquote.com

Media:

Matt Gunter

913-286-4931

matt.gunter@selectquote.com

Source: SelectQuote, Inc.

7

SELECTQUOTE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands)

			September 30, 2026						June 30, 2026
ASSETS
CURRENT ASSETS:
Cash, cash equivalents, and restricted cash			$	13,444					$	20,718
Accounts receivable, net of allowances of $5.5 million and $7.1 million, respectively			128,449						166,825
Commissions receivable-current			201,919						138,728
Other current assets			22,176						24,676
Total current assets			365,988						350,947
COMMISSIONS RECEIVABLE—Net			805,283						852,675
PROPERTY AND EQUIPMENT—Net			10,803						12,050
SOFTWARE—Net			18,371						18,072
OPERATING LEASE RIGHT-OF-USE ASSETS			19,514						20,511
GOODWILL			29,438						29,438
OTHER ASSETS			2,587						3,135
TOTAL ASSETS			$	1,251,984					$	1,286,828
LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable			$	59,188					$	74,033
Accrued expenses			24,718						21,049
Accrued compensation and benefits			48,038						62,265
Operating lease liabilities—current			4,246						4,448
Current portion of long-term debt			21,593						22,014
Other current liabilities			25,540						8,814
Total current liabilities			183,323						192,623
LONG-TERM DEBT, NET—less current portion			364,255						348,154
DEFERRED INCOME TAXES			40,078						49,453
OPERATING LEASE LIABILITIES			20,788						21,753
OTHER LIABILITIES			12,203						24,820
Total liabilities			620,647						636,803

8

			September 30, 2026						June 30, 2026
COMMITMENTS AND CONTINGENCIES
PREFERRED STOCK:
Senior Non-Convertible Preferred Stock, $0.01 par value, 350,000 shares issued and outstanding as of September 30, 2026 and June 30, 2026, respectively, current liquidation preference of $438.6 million and $423.2 million as of September 30, 2026 and June 30, 2026, respectively.			318,374						298,213
SHAREHOLDERS’ EQUITY:
Common stock, $0.01 par value			1,794						1,765
Additional paid-in capital			491,470						510,047
Accumulated deficit			(180,301)						(160,000)
Total shareholders’ equity			312,963						351,812
TOTAL LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY			$	1,251,984					$	1,286,828

9

SELECTQUOTE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(Unaudited)

(In thousands)

			Three Months Ended September 30,
			2026						2025
REVENUE:
Commissions and other services			$	95,963					$	110,267
Pharmacy			184,044						218,544
Total revenue			280,007						328,811
OPERATING COSTS AND EXPENSES:
Cost of commissions and other services revenue			61,753						69,101
Cost of goods sold—pharmacy revenue			155,263						192,779
Marketing and advertising			46,439						61,947
Selling, general, and administrative			35,911						35,819
Technical development			9,228						9,911
Total operating costs and expenses			308,594						369,557
LOSS FROM OPERATIONS			(28,587)						(40,746)
INTEREST EXPENSE, NET			(10,966)						(11,808)
CHANGE IN FAIR VALUE OF WARRANTS			12,573						15,036
OTHER INCOME (EXPENSE), NET			463						(145)
LOSS BEFORE INCOME TAX BENEFIT			(26,517)						(37,663)
INCOME TAX BENEFIT			(6,216)						(7,204)
NET LOSS			$	(20,301)					$	(30,459)
Senior Non-Convertible Preferred Stock accumulated dividends and accretion			(20,161)						(17,482)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS			$	(40,462)					$	(47,941)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS PER SHARE:
Basic			$	(0.21)					$	(0.26)
Diluted			$	(0.21)					$	(0.26)
WEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS:
Basic			191,459						185,816
Diluted			191,459						185,816

10

SELECTQUOTE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)

			Three Months Ended September 30,
			2026						2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss			$	(20,301)					$	(30,459)
Adjustments to reconcile net loss to net cash, cash equivalents, and restricted cash used in operating activities:
Depreciation and amortization			4,460						4,300
Loss on disposal of property, equipment, and software			74						—
Share-based compensation expense			2,731						4,327
Deferred income taxes			(9,374)						(9,168)
Amortization of debt issuance costs and debt discount			964						1,184
Change in fair value of warrants			(12,573)						(15,036)
Non-cash lease expense			997						1,021
Changes in operating assets and liabilities:
Accounts receivable, net			38,375						46,902
Commissions receivable			(15,799)						(29,001)
Other assets			2,669						2,371
Accounts payable and accrued expenses			(10,864)						11,395
Operating lease liabilities			(1,165)						(1,105)
Other liabilities			2,626						(8,354)
Net cash used in operating activities			(17,180)						(21,623)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment			(658)						(1,058)
Purchases of software and capitalized software development costs			(2,989)						(2,926)
Net cash used in investing activities			(3,647)						(3,984)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility			169,000						80,000
Payments on revolving credit facility			(148,000)						(65,000)
Payments on Term Loans			(2,031)						(3,573)
Payments on ABS Notes			(4,232)						(4,543)
Payments on other debt			(147)						(112)
Payments of tax withholdings related to net share settlement of equity awards			(1,118)						(2,460)
Payments of debt issuance costs			—						(72)
Net cash provided by financing activities			13,472						4,240
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH			(7,355)						(21,367)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period			21,677						37,066
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period			$	14,322					$	15,699

11

RECONCILIATION OF NON-GAAP MEASURE

SELECTQUOTE, INC. AND SUBSIDIARIES

Reconciliation of Net loss to Adjusted EBITDA

(Unaudited)

			Three Months Ended September 30,
(in thousands)			2026						2025
Net loss			$	(20,301)					$	(30,459)
Share-based compensation expense			2,731						4,327
Transaction and severance costs			3,851						185
Depreciation and amortization			4,460						4,300
Loss on disposal of property, equipment, and software, net			74						—
Change in fair value of warrants			(12,573)						(15,036)
Interest expense, net			10,966						11,808
Income tax benefit			(6,216)						(7,204)
Adjusted EBITDA			$	(17,008)					$	(32,079)

12

1st Quarter Fiscal 2027 Earnings Presentation November 4, 2026 Exhibit 99.2

Forward-Looking Statements This presentation contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: our reliance on a limited number of insurance carrier partners and any potential termination of those relationships or failure to develop new relationships; existing and future laws and regulations affecting the health insurance market; changes in health insurance products offered by our insurance carrier partners and the health insurance market generally; insurance carriers offering products and services directly to consumers; changes to commissions paid by insurance carriers and underwriting practices; competition with brokers, exclusively online brokers and carriers who opt to sell policies directly to consumers; competition from government-run health insurance exchanges; developments in the U.S. health insurance system; our dependence on revenue from carriers in our senior segment and downturns in the senior health as well as life, automotive and home insurance industries; our ability to develop new offerings and penetrate new vertical markets; risks from third-party products; failure to enroll individuals during the Medicare annual enrollment period; our ability to attract, integrate and retain qualified personnel; our dependence on lead providers and ability to compete for leads; failure to obtain and/or convert sales leads to actual sales of insurance policies; access to data from consumers and insurance carriers; accuracy of information provided from and to consumers during the insurance shopping process; cost- effective advertisement through internet search engines; ability to contact consumers and market products by telephone; global economic conditions, including inflation; disruption to operations as a result of future acquisitions; significant estimates and assumptions in the preparation of our financial statements; impairment of goodwill; potential litigation and other legal proceedings or inquiries; our existing and future indebtedness; our ability to maintain compliance with our debt covenants; access to additional capital; our ability to regain and maintain compliance with NYSE listing standards; failure to protect our intellectual property and our brand; fluctuations in our financial results caused by seasonality; accuracy and timeliness of commissions reports from insurance carriers; timing of insurance carriers’ approval and payment practices; factors that impact our estimate of the constrained lifetime value of commissions per policyholder; changes in accounting rules, tax legislation and other legislation; disruptions or failures of our technological infrastructure and platform; failure to maintain relationships with third-party service providers; cybersecurity breaches or other attacks involving our systems or those of our insurance carrier partners or third-party service providers; our ability to protect consumer information and other data; failure to market and sell Medicare plans effectively or in compliance with laws; and other factors related to our pharmacy business, including manufacturing or supply chain disruptions, access to and demand for prescription drugs, changes in reimbursement rates under our contracts with pharmacy benefit managers, and regulatory changes or other industry developments that may affect our pharmacy operations. For a further discussion of these and other risk factors that could impact our future results and performance, see the section entitled “Risk Factors” in the most recent Annual Report on Form 10-K (the “Annual Report”) and subsequent periodic reports filed by us with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. No Offer or Solicitation; Further Information This presentation is for informational purposes only and is not an offer to sell with respect to any securities. This presentation should be read together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and the related notes thereto included in the Annual Report and subsequent quarterly reports. Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. To supplement our financial statements presented in accordance with GAAP and to provide investors with additional information regarding our GAAP financial results, we have presented in this presentation Adjusted EBITDA, which, when presented on a consolidated basis, is a non-GAAP financial measure. This non-GAAP financial measure is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to any similarly titled measure presented by other companies. We define Adjusted EBITDA as net income (loss) plus interest expense, income taxes, depreciation and amortization, changes in fair value of warrant liabilities, and certain add-backs for non-cash or non-recurring expenses, including restructuring, loss on property, equipment and software, and share-based compensation expenses. The most directly comparable GAAP measure for Adjusted EBITDA is net income (loss). We monitor and have presented in this presentation Adjusted EBITDA because it is a key measure used by our management and Board of Directors in understanding and evaluating our operating performance, establishing budgets, and developing operational goals for managing our business. In particular, we believe that excluding the impact of certain expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core operating performance. For further discussion regarding this non-GAAP measure, please see today’s press release. A reconciliation of the differences between Adjusted EBITDA and its most directly comparable GAAP financial measure, net income (loss), is set forth below on slide 12. The Company is unable to provide a quantitative reconciliation of forward-looking Adjusted EBITDA to its most directly comparable GAAP measure without unreasonable effort because it is not possible to predict certain items included in the calculation of such GAAP measure, including the fair value of outstanding warrants to purchase shares of the Company's common stock. The unavailable information could have a significant impact on the Company's GAAP financial results. Disclaimer 2

1Q Earnings Highlights Consolidated • Adjusted EBITDA* ahead of internal forecasts and $15 million higher year-over-year • Revenue declined 15% year-over-year, primarily driven by IRA impacts to Healthcare Services revenue • Clear path to improved efficiency and profitability resulting from strategic investments in technology and AI • Strong start to AEP with heightened customer engagement and agent productivity • On track to deliver $60 million+ in operating cash flow Senior • Another season of elevated plan disruption fueling strong beneficiary engagement • Adjusted EBITDA of $(12) million, $9 million improvement year-over-year, reflecting prudent AEP investment Healthcare Services • Adjusted EBITDA up 56% year-over-year to $11 million • Revenue was down year-over-year, in line with expectations, primarily due to the Inflation Reduction Act • Profitability per SelectRx member increased 60% year-over-year 3 *See "Non-GAAP Financial Measures" section on slide 2

• Agent-led model and technology driving robust customer engagement to start AEP • Strong tenured agent mix • Poised for growth when opportunities present themselves • Building upon prior year's successful customer engagement campaigns to help beneficiaries understand plan changes • Re-shopping beneficiaries when appropriate • Building upon FY26's 33% recapture results While carriers are making progress toward their MA profitability targets, we anticipate another AEP of beneficiary disruption Market Backdrop Well Prepared for Another Dynamic AEP Agile Sales Function Focus on Retention Policy Terminations Growth AreasBenefit Disruption Plan terms and benefit curtailment elevated again this year Growth focus areas include HMOs, SNPs and Geo-specific 4

200k+ unique calls screened through Voice AI in 1Q Agent Productivity 100% of agent calls transcribed by AI for real-time coaching and post-call scorecards ~20% reduction in Healthcare Services enrollment call time through voice AI, with higher enrollment rates • AI handles call screening and routing • Real-time coaching supports agents during live calls leading to an improved beneficiary experience • Post-call scorecards turn conversations into training insights • Voice AI streamlines Medicare enrollment • Automation frees up valuable agent time, accelerating productivity and overall velocity of the business • Human oversight stays built into the process • Voice AI leads to 20% faster enrollment with higher enrollment rates • In-house technology powers pharmacy operations • Pharmacy Management System is live and shipping prescriptions, helping drive increased efficiency Healthcare Services Efficiency & Training Technology and AI power efficiency across the business model Scalable AI Infrastructure Driving Tangible Results 5

*See "Non-GAAP Financial Measures" section on slide 2 Revenue $MM Adjusted EBITDA* $MM Consolidated Financial Summary $329 $280 1Q26 1Q27 $(32) $(17) 1Q26 1Q27 6 Commentary • Revenue reflects impact of Inflation Reduction Act as well as prudent Senior investment • 1Q historically an investment quarter leading into AEP and OEP selling seasons • Adjusted EBITDA* improved $15 million year-over-year primarily attributable to improved Healthcare Services profitability and reduced Senior investment leading into AEP

Revenue $MM Adjusted EBITDA $MM Senior Financial Summary $59 $51 1Q26 1Q27 $(21) $(12) 1Q26 1Q27 7 • Revenue decline reflects strategically smaller agent class heading into AEP • Adjusted EBITDA improvement driven by continued operational efficiencies throughout the Senior sales funnel • Trailing-twelve-month Adjusted EBITDA of $157 million compared to the prior year period of $133 million Commentary

Revenue $MM Adjusted EBITDA $MM Healthcare Services Financial Summary $221 $186 1Q26 1Q27 $7 $11 1Q26 1Q27 8 • Adjusted EBITDA margins nearly doubled, reflecting the increased operational efficiencies alongside a maturing membership base and stabilized reimbursements • Profitability per SelectRx member* of $108 in 1Q'27 compared to $67 in 1Q'26 • Accelerating enrollment velocity positions SelectRx to efficiently onboard new members during AEP & OEP Commentary 3% 6%Margin: *Profitability per member is calculated as Healthcare Services divisional Adjusted EBITDA for the period divided by average members, represented by the mean of ending membership in the prior period and ending membership in the current period.

Revenue $MM Adjusted EBITDA $MM Life Financial Summary $47 $43 1Q26 1Q27 $6 $7 1Q26 1Q27 9 • Adjusted EBITDA margins improved more than 500 bps year-over-year • Revenue decline reflects a decrease in Final Expense agent head count year-over- year Commentary 12% 17%Margin:

$(12) $32 FY25A FY26A FY27E Operating Cash Flow $MM $60+ Cash Flow Growth in FY27 • Increasing operational and cost efficiency through technology leverage • PBM stability maintained through multi-year contract • Ramping SelectRx profitability driven by the Olathe, Kansas facility Commentary 10

Supplemental Information 11

Reconciliation of Non-GAAP Measure Reconciliation of Net Loss to Adjusted EBITDA 1Q FY (in thousands) 2027 2026 Net loss $ (20,301) $ (30,459) Share-based compensation expense 2,731 4,327 Transaction and severance costs 3,851 185 Depreciation and amortization 4,460 4,300 Loss on disposal of property, equipment, and software, net 74 — Change in fair value of warrants (12,573) (15,036) Interest expense, net 10,966 11,808 Income tax benefit (6,216) (7,204) Adjusted EBITDA $ (17,008) $ (32,079) 12

SelectQuote Inc. 6800 West 115th Street Suite 2511 Overland Park, Kansas 66211 Phone: (877) 678-4086 Investor Relations investorrelations@selectquote.com 13

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 268.5 KB
• EX-99.2 EX-99.2 18.5 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.7 KB