Goosehead Insurance, Inc. Announces Select Preliminary Key Performance Indicators for Fourth Quarter and Year-End 2019

WESTLAKE, Texas, Jan. 27, 2020 (GLOBE NEWSWIRE) -- Goosehead Insurance, Inc. (“Goosehead” or the “Company”) (NASDAQ: GSHD), a rapidly growing independent personal lines insurance agency, today announced select preliminary fourth quarter and year-end 2019 key performance indicators, including preliminary estimated revenue under ASC 605 for the fourth quarter ended December 31, 2019, provided in connection with the Company’s annual internal meeting in February 2020.

• Revenue under accounting guidance ASC 605¹ for the fourth quarter of 2019 is expected to be between $20.1 million and $20.3 million, representing organic growth of between 37% and 38% from the fourth quarter of 2018.  For the full year 2019, revenue under accounting guidance ASC 605¹ is expected to be between $83.8 million and $84.0 million, representing organic growth of between 39% and 40% from 2018.
• Total written premiums placed grew 45% to $196 million in the fourth quarter of 2019, compared to $135 million during the fourth quarter of 2018. Total written premiums placed in 2019 were $739 million, an increase of 45% from 2018.
• Policies in force grew 44% to 482,000 at year end 2019, compared to 334,000 at year end 2018.
• Corporate sales headcount of 248 as of December 31, 2019 was up 49% year-over-year.
• Total franchises increased 47% compared to the prior-year period to 948 as of December 31, 2019; total operating franchises grew 34% compared to the prior-year period to 614.

_{¹ The revenue presented for the fourth quarter of 2019 reflects the Company’s preliminary estimates based on currently available information, is not a comprehensive statement of our financial results and is subject to change. The Company has provided a range, rather than a specific amount, for preliminary revenue estimates because its closing procedures for the year ended December 31, 2019 are not yet complete and, therefore, its final results upon completion of our closing procedures may vary from the preliminary estimates.  In addition, these estimates are presented under ASC 605. The Company will begin to report revenue under ASC 606 (ASU 2014-09) in its 2019 Annual Report on Form 10-K for the year ended December 31, 2019 and plans to provide a reconciliation to the current method of revenue recognition.}