Hagerty, Inc. (HGTY) Form 10-Q — Nov 3, 2026
Hagerty, Inc. filed its 10-Q for the quarter ended September 30, 2026, reporting Q3 net income of $36.3 million (down from $46.2 million a year ago) on total revenue of $354.2 million versus $391.4 million in the prior-year quarter. The revenue mix reflects the Markel Fronting Arrangement effective January 1, 2026: earned premium grew 42% to $265.1 million as Hagerty Re now assumes 100% of risk, while commission and fee revenue fell to $21.6 million from $137.1 million as the company no longer earns commissions on Essentia policies.
Key figures
- Eps
- $0.08 basic and diluted (Q3 2026, Class A)
- Revenue
- $354.2 million (Q3 2026)
- Net Income
- $36.3 million Q3 2026; $31.6 million nine months 2026
- Total Debt
- 2025 JPM Credit Facility capacity $375.0 million; BAC Credit Facility $150.0 million commitment; State Farm Term Loan $25.0 million
- Revenue Yoy
- Q3 2026 total revenue down from $391.4 million; nine-month revenue $1,020.9 million vs $1,099.1 million
- Total Assets
- $2,279.4 million total liabilities, temporary equity and stockholders' equity
- Cash Position
- $460.8 million cash and cash equivalents at September 30, 2026
- Bvt notes receivable
- $163.6 million BAC notes receivable
- Earned premium q3 2026
- $265.1 million (up from $187.0 million)
- Economic ownership thg
- 34.7%
- Lpt cash consideration
- $50.5 million
- Class a shares outstanding
- 120569434
- Net income attributable class a q3
- $8.4 million
- Insurance segment income before taxes q3
- $48.9 million
- Marketplace segment loss before taxes q3
- -$2.6 million
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