Earnings release
Page 1
Exhibit 99.1 SelectQuote , Inc. Reports Third Quarter and Fiscal Year to Date 2021 Results Third Quarter of Fiscal Year 2021 - Consolidated Earnings Highlights Revenue of $ 266.9 million , Up 80 % Year - Over - Year Net Income of $ 36.5 million , improvement of $ 12.8 million Year - Over - Year Adjusted EBITDA of $ 65.2 million , Up 48 % Year - Over - Year * Updating Full - Year 2021 Revenue , Net Income and Adjusted EBITDA Guidance : Revenue still expected in a range of $ 920 million to $ 940 million Net Income expected in a range of $ 130 million to $ 138 million Adjusted EBITDA expected in a range of $ 225 million to $ 235 million * Third Quarter of Fiscal Year 2021 - Segment Highlights Senior Life Revenue of $ 215.6 million , Up 101 % Year - Over - Year Adjusted EBITDA of $ 75.5 million , Up 63 % Year - Over - Year * Approved Medicare Advantage policies grew 112 % Year - Over - Year Revenue of $ 46.4 million , Up 50 % Year - Over - Year Final expense premiums grew 176 % Year - Over - Year Auto & Home Revenue of $ 7.0 million , Down 33 % Year - Over - Year Total Auto & Home premiums declined 29 % Year - Over - Year OVERLAND PARK , Kan . , May 11 , 2021 -- ( BUSINESS WIRE ) -- SelectQuote , Inc. ( NYSE : SLQT ) , reported consolidated revenue for the third quarter of fiscal year 2021 of $ 266.9 million , which was an 80 % increase over consolidated revenue for the third quarter of fiscal year 2020 of $ 148.6 million . Consolidated net income for the third quarter of fiscal year 2021 was $ 36.5 million , which was a $ 12.8 million increase over consolidated net income for the third quarter of fiscal year 2020 of $ 23.7 million . Finally , consolidated Adjusted EBITDA for the third quarter of fiscal year 2021 was $ 65.2 million , which was a 48 % increase over consolidated Adjusted EBITDA for the third quarter of fiscal year 2020 of $ 44.1 million . Consolidated revenue for the nine months ended March 31 , 2021 , was $ 749.4 million , a 92 % increase over consolidated revenue for the nine months ended March 31 , 2020 , of $ 390.1 million . Consolidated net income for the nine months ended March 31 , 2021 , was $ 127.7 million , an increase of $ 66.6 million over consolidated net income for the nine months ended March 31 , 2020 , of $ 61.1 million . Finally , consolidated Adjusted EBITDA for the nine months ended March 31 , 2021 , was $ 206.8 million compared to consolidated Adjusted EBITDA of $ 113.9 million for the nine months ended March 31 , 2020 , an 82 % increase . Chief Executive Officer Tim Danker commented , " Our Third Quarter results again demonstrated our strong growth potential . The quarter was led by a robust OEP , where our Medicare Advantage approved policies grew by 112 % year- over - year driven by a 17 % increase in average agent productivity while adding 75 % more agents . We are also very excited about the huge opportunity with value - based care and our Population Health platform which we announced last week along with the acquisition of Express Med , which will be rebranded SelectRx . We continue to build our conviction that SelectQuote is designed to execute high quality growth for years to come and with Population Health , our addressable market is now bigger , and our ability to address that market has never been stronger . " Chief Financial Officer Raffaele Sadun added , " With Senior revenue growth of 101 % year - over - year , this was the fifth consecutive quarter of Senior revenue growth in excess of 100 % . During the quarter , we also refinanced our credit agreement and secured an additional $ 292 million of committed capital , $ 147 million immediately and another $ 145 million in a committed delayed draw term loan . Lastly , we are reiterating our fiscal year revenue * See reconciliation from non - GAAP measure , Adjusted EBITDA , to net income on pages 11-13 .