Goosehead Insurance has reported double-digit growth in revenue and written premiums for Q4 2025 after the company stepped up investment in tech, service and corporate producers.
The independent personal lines agency posted Q4 total revenue of $105.3 million, up 12% from a year earlier. Core revenue, which excludes contingent commissions, initial franchise fees, interest income and other franchise revenues, rose 15% to $78.2 million. This was driven by an 85% client retention rate, rising premiums, more corporate and franchise agents and higher productivity per agency.
Meanwhile, net income for the quarter fell to $20.8 million from $23.8 million a year earlier. Earnings per share declined 17% to $0.50, while adjusted EPS slipped 18% to $0.64. Adjusted EBITDA increased 5% to $39.2 million, but the adjusted EBITDA margin fell three points year‑on‑year to 37%.
Total written premium placed in the quarter increased 13% to $1.1 billion, which Goosehead highlighted as a leading indicator of future revenue. Policies in force grew 14% year over year to about 1.9 million.
Meanwhile, total operating expenses for Q4 2025 were $74.4 million, up from $66.1 million a year earlier. Employee compensation and benefits increased to $48.9 million from $45.0 million. Excluding equity‑based compensation, employee compensation and benefits rose to $43.4 million from $38.2 million, reflecting investment in corporate producers and in service and technology functions.
President and CEO Mark Miller also touted the company's Digital Agent 2.0 platform, which is now live in Texas with multiple auto carriers and additional home carriers in implementation.
“During 2025, we made massive strides on the hardest challenges in digital binding and are now set up to rapidly expand our product and geographic coverage,” he said, citing deep carrier integrations and the ability to service hundreds of carriers and product lines at scale. He added that Goosehead had deployed AI in its service department to enhance client experience and improve cost efficiency, and positioned the company as “defining how AI will reshape personal lines distribution.”
As of Dec. 31, 2025, Goosehead held $34.4 million in cash and cash equivalents and had an unused $75.0 million line of credit. Total term note payable was $298.5 million.
During the quarter, the company repurchased and retired 323,000 shares at an average price of $69.79. At year‑end, $18.3 million remained under the existing authorization.
On February 17, 2026, the board expanded and extended the share repurchase program, adding $180.0 million of authorization and pushing the end date to May 1, 2027. The program remains discretionary and may be modified or suspended.
Looking ahead, the company expects organic revenue to grow by 10% to 19% for full-year 2026. It also expects total written premium growth of 12% to 20%.
Goosehead is seen to be growing faster than many traditional broker platforms, while maintaining profitability levels that contrast with a number of newer, pure‑play insurtechs.
Many digital‑first carriers and MGAs in personal lines continue to post strong double‑digit premium and revenue growth but are still working toward sustained profitability, often reporting net losses while they scale. However, Goosehead is pairing mid‑teens revenue growth and rising written premiums with positive net income and double‑digit EBITDA margins, even as it steps up investment in its Digital Agent 2.0 platform and AI initiatives.
On the distribution side, larger multi‑line brokers are also investing in personal lines portals that can surface multi‑carrier quotes and improve cross‑sell and retention, but those initiatives are typically embedded within broader, less concentrated personal‑lines businesses. Goosehead remains more narrowly focused on personal lines and franchise distribution, which means the impact of its digital and AI strategy is more visible in its overall growth and margin profile
In other news, Goosehead announced governance changes, with Louis Goldberg being elected to the board of directors, effective Feb. 18. Goldberg is a former senior partner and leader of the board advisory practice at New York law firm Davis Polk. He brings more than 28 years’ experience advising global corporations on board matters, transactions, disclosure and corporate governance.
Meanwhile, Thomas McConnon will step down from the board as his term expires in 2026, effective February 18 to focus on managing Whitebark Investors LP. McConnon joined the board in 2022.
