Hagerty, Inc. (HGTY) Income Statement
HGTY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHGTY revenue and net income
Where HGTY's revenue goes
2025Each bar shows an amount and its share of revenue. HGTY kept 3.4% of revenue as net income.
HGTY profit margins
HGTY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +22.2% | +20.6% | +23.9% | — |
| Gross profit | +31.1% | +36.9% | +23.4% | — |
| Operating income | +48.6% | +132.3% | +56.4% | — |
| Net income | +188.1% | +15.2% | +37.0% | — |
| EPS (diluted) | +82.6% | — | −70.6% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HGTY quarterly EPS vs estimates
Hagerty beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 3, 2026 (estimate $0.01).
HGTY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.46B | $1.19B | $1.01B | $829.5M | $576.5M | $499.5M | $397.3M | $301.7M |
| Cost of revenue | $285.4M | $298.6M | $220.7M | $373.6M | $263.1M | $91.0M | $178.7M | $138.0M |
| Gross profit | $1.17B | $892.9M | $791.1M | $455.9M | $313.5M | $408.5M | $397.3M | $301.7M |
| Research & development | — | — | — | — | — | — | $3.5M | — |
| Sales, general & admin | $616.3M | $494.5M | $458.7M | $429.4M | $343.9M | $274.9M | $237.5M | $197.9M |
| Total operating expenses | $1.03B | $799.2M | $746.3M | $444.8M | $368.1M | $393.7M | $386.4M | $293.1M |
| Operating income | $139.2M | $93.7M | $44.8M | $11.1M | −$54.6M | $14.9M | $10.8M | $8.6M |
| Interest income | $39.2M | $39.6M | $26.9M | — | — | — | — | — |
| Interest expense | $8.7M | $35.8M | $4.1M | $2.0M | $2.0M | $859,522 | $607,953 | $0 |
| Income before taxes | $139.2M | $93.7M | $44.8M | $11.1M | −$54.6M | $14.9M | $11.5M | $8.6M |
| Income taxes | −$10.0M | $15.4M | $16.6M | $7.0M | $6.8M | $4.8M | $7.3M | $121,810 |
| Net income | $49.0M | $17.0M | $20.2M | $32.1M | −$46.4M | $10.2M | $4.2M | $8.5M |
| EBITDA | $176.7M | $132.6M | $90.6M | $45.0M | −$32.5M | $26.7M | $19.8M | $16.4M |
| EPS (diluted) | $0.42 | $0.23 | $0.09 | −$0.06 | $28.08 | $192.72 | $53.57 | — |
| Gross margin | 80.4% | 74.9% | 78.2% | 55.0% | 54.4% | 81.8% | 100.0% | 100.0% |
| Operating margin | 9.6% | 7.9% | 4.4% | 1.3% | −9.5% | 3.0% | 2.7% | 2.9% |
| Net margin | 3.4% | 1.4% | 2.0% | 3.9% | −8.0% | 2.0% | 1.1% | 2.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $354.8M | $311.8M | $357.3M | $380.0M | $368.7M | $319.6M | $291.7M | $322.9M | $311.3M | $265.6M | $258.0M | $276.4M |
| Cost of revenue | $110.7M | $97.9M | $60.4M | $78.6M | $75.2M | $148.5M | $72.1M | $99.4M | $64.7M | $62.4M | $61.2M | $57.5M |
| Gross profit | $244.1M | $213.9M | $296.9M | $301.4M | $293.5M | $171.1M | $219.7M | $223.5M | $246.6M | $203.2M | $196.8M | $218.9M |
| Sales, general & admin | $95.3M | $72.4M | $156.1M | $170.2M | $154.0M | $135.9M | $124.6M | $127.2M | $127.1M | $115.6M | $108.9M | $121.2M |
| Total operating expenses | $241.9M | $234.8M | $257.2M | $288.0M | $240.1M | $138.3M | $205.8M | $205.5M | $198.1M | $189.9M | $183.2M | $195.7M |
| Operating income | $2.2M | −$20.9M | $39.7M | $13.3M | $53.4M | $32.8M | $13.9M | $18.0M | $48.5M | $13.3M | $13.6M | $23.2M |
| Interest income | $11.2M | $10.4M | — | — | $9.5M | $9.2M | — | — | — | — | — | — |
| Interest expense | $1.8M | $922,000 | $35.0M | $21.0M | $5.7M | $1.7M | $16.2M | $8.4M | $12.3M | $7.2M | $7.1M | $6.3M |
| Income before taxes | $2.2M | −$20.9M | $39.7M | $13.3M | $53.4M | $32.8M | $13.9M | $18.0M | $48.5M | $13.3M | $13.6M | $23.2M |
| Income taxes | −$5.8M | −$8.2M | $11.1M | −$32.8M | $6.2M | $5.5M | $5.5M | −$1.0M | $5.8M | $5.1M | $4.6M | $4.6M |
| Net income | $280,000 | −$4.5M | $8.8M | $20.8M | $11.0M | $8.4M | $3.1M | $4.9M | $10.4M | −$1.4M | $14.6M | $5.4M |
| EBITDA | $11.9M | −$11.2M | $49.5M | $22.8M | $62.2M | $42.3M | $23.0M | $27.2M | $58.5M | $23.9M | $24.5M | $34.0M |
| EPS (diluted) | −$0.02 | −$0.04 | $0.08 | $0.13 | $0.13 | $0.08 | $0.02 | $0.05 | $0.12 | $0.04 | $0.03 | $0.05 |
| Gross margin | 68.8% | 68.6% | 83.1% | 79.3% | 79.6% | 53.5% | 75.3% | 69.2% | 79.2% | 76.5% | 76.3% | 79.2% |
| Operating margin | 0.6% | −6.7% | 11.1% | 3.5% | 14.5% | 10.3% | 4.8% | 5.6% | 15.6% | 5.0% | 5.3% | 8.4% |
| Net margin | 0.1% | −1.4% | 2.5% | 5.5% | 3.0% | 2.6% | 1.1% | 1.5% | 3.3% | −0.5% | 5.6% | 1.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HGTY's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HGTY financial results
In fiscal year 2025 (ended December 31, 2025), Hagerty reported revenue of $1.5 billion, up 22.2% from the year before. It had net income of $49.0 million (up 188.1%), a net profit margin of 3.4%. Diluted earnings per share came to $0.42. Over five years revenue grew at an average rate of 23.9% a year.
See the HGTY stock overview for the latest quote and news, or the HGTY chart for price history and technical indicators.
HGTY income statement FAQ
What is Hagerty's annual revenue?
Hagerty reported total revenue of $1.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 22.2% from $1.2 billion the previous year.
Is Hagerty profitable?
Yes. Hagerty reported net income of $49.0 million in fiscal 2025, a net profit margin of 3.4%; its operating margin was 9.6%.
What is Hagerty's gross margin?
Hagerty's gross margin was 80.4% in fiscal 2025: for every $100 of revenue, Hagerty kept $80 after the direct cost of its products and services.
How fast is Hagerty growing?
Revenue grew 23.9% a year on average over the last five fiscal years, from $499.5 million to $1.5 billion.
What are Hagerty's earnings per share?
Hagerty earned $0.42 per diluted share in fiscal 2025, compared with $0.23 a year earlier.
When will Hagerty report its next earnings?
Hagerty is expected to report results for the quarter ending September 30, 2026 on November 3, 2026.
When does Hagerty's fiscal year end?
Hagerty's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.