Hagerty Investor Presentation Deck
6
KEY Q1 2023 HIGHLIGHTS
Total Revenue growth of 30%
Written Premium growth of 18%
Improved Profitability
>> Net Income (Loss) of $(15) million compared to $16 million in
the prior year period due primarily to the $32 million change in
fair value of the warrant liabilities
Adjusted EBITDA of $7 million, an improvement of $13 million
from the prior year period's loss of $6 million
>> Q1 restructuring should yield an incremental $20 million to $25
million of annualized savings, including $15 million in 2023
2023 OUTLOOK
Pivot to significantly improved profitability fueled by top-
line momentum, cost containment & efficiency measures
>> Total Revenue growth of 22-26%
» Written Premium growth of 11-13%
» Net Income (Loss) of $(13)-7 million
Adjusted EBITDA (¹) of $55-75 million
2023 Outlook as of the Company's fourth quarter earnings call on March 14th, 2023 was for Net income (loss) of $(20) to
$0 million and Adjusted EBITDA of $40 to $60 million.
¹ See Appendix for additional information regarding this non-GAAP financial measure.
HAGERTY Q1 2023 | 3View entire presentation