$SLQT

SelectQuote, Inc.

CIK:0001794783|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
REVENUE:
Total revenue	$ 1,618,499	$ 1,526,594	$ 1,321,776
OPERATING COSTS AND EXPENSES:
Cost of commissions and other services revenue	312,153	305,127	318,798
Cost of goods sold—pharmacy revenue	730,748	630,340	405,004
Marketing and advertising	313,687	319,505	358,858
Selling, general, and administrative	149,022	164,442	141,042
Technical development	38,965	38,681	33,524
Total operating costs and expenses	1,544,575	1,458,095	1,257,226
INCOME FROM OPERATIONS	73,924	68,499	64,550
INTEREST EXPENSE, NET	(44,527)	(79,385)	(93,551)
CHANGE IN FAIR VALUE OF WARRANTS	55,804	59,525	0
LOSS ON EXTINGUISHMENT OF DEBT	(8,659)	0	0
OTHER EXPENSE, NET	(255)	(128)	(65)
INCOME (LOSS) BEFORE INCOME TAX EXPENSE	76,287	48,511	(29,066)
INCOME TAX EXPENSE	14,098	931	5,059
NET INCOME (LOSS)	62,189	47,580	(34,125)
Senior Non-Convertible Preferred Stock accumulated dividends and accretion	(73,838)	(22,548)	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (11,649)	$ 25,032	$ (34,125)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS PER SHARE:
Basic (in dollars per share)	$ (0.06)	$ 0.14	$ (0.20)
Diluted (in dollars per share)	$ (0.06)	$ 0.01	$ (0.20)
WEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS:
Basic (in shares)	188,174	176,148	168,519
Diluted (in shares)	188,174	181,895	168,519
OTHER COMPREHENSIVE LOSS, NET OF TAX:
Unrealized gain (loss), net of related tax benefit for the year ended June 30, 2026, and 2025, of $0.0 million,and $0.1 million, and tax expense for the year ended June 30, 2024 of $0.3 million.	$ 0	$ (432)	$ 1,214
Net reclassification into earnings	0	(3,680)	(10,781)
OTHER COMPREHENSIVE LOSS	0	(4,112)	(9,567)
COMPREHENSIVE INCOME (LOSS)	62,189	43,468	(43,692)
Commissions and other services
REVENUE:
Total revenue	787,645	797,841	856,923
Pharmacy
REVENUE:
Total revenue	$ 830,854	$ 728,753	$ 464,853

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 62,189	$ 47,580	$ (34,125)
Adjustments to reconcile net income (loss) to net cash, cash equivalents, and restricted cash provided by (used in) operating activities:
Depreciation and amortization	17,489	20,460	24,998
Loss on disposal of property, equipment, and software	0	240	536
Impairment of long-lived assets	0	4,209	0
Impairment of equity-method investment	1,000	0	0
Loss on extinguishment of debt	8,659	0	0
Share-based compensation expense	14,862	18,357	13,816
Deferred income taxes	11,581	1,849	1,163
Amortization of debt issuance costs and debt discount	4,293	5,247	6,142
Write-off of debt issuance costs	0	93	293
Accrued interest payable in kind	0	14,013	19,577
Change in fair value of warrants	(55,804)	(59,525)	0
Non-cash lease expense	4,124	3,922	2,349
Bad debt expense	0	4,203	0
Changes in operating assets and liabilities:
Accounts receivable, net	(15,437)	(5,555)	5,203
Commissions receivable	(40,576)	(69,510)	(40,819)
Other assets	(2,460)	(6,282)	(1,967)
Accounts payable and accrued expenses	21,894	19,226	7,347
Operating lease liabilities	(4,602)	(4,711)	(4,897)
Other liabilities	4,673	(5,482)	15,620
Net cash provided by (used in) operating activities	31,885	(11,666)	15,236
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(4,276)	(2,191)	(3,382)
Proceeds from sales of property and equipment	0	0	253
Purchases of software and capitalized software development costs	(11,870)	(9,123)	(8,284)
Acquisition of business	0	0	(3,433)
Net cash used in investing activities	(16,146)	(11,314)	(14,846)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility	358,000	166,900	0
Payments on revolving credit facility	(358,000)	(166,900)	0
Net proceeds from Term Loan	315,234	0	0
Payments on Term Loans	(316,031)	(388,216)	(38,883)
Proceeds on ABS Notes	0	99,095	0
Payments on ABS Notes	(19,529)	(16,577)	0
Payments on other debt	(527)	(312)	(149)
Proceeds from common stock options exercised and employee stock purchase plan	0	98	81
Proceeds from issuance of Senior Non-Convertible Preferred Stock	0	337,855	0
Senior Non-Convertible Preferred Stock issuance costs	0	(7,076)	0
Payments of tax withholdings related to net share settlement of equity awards	(2,545)	(5,032)	(374)
Payments of debt issuance costs	(7,730)	(2,479)	(1,531)
Net cash (used in) provided by financing activities	(31,128)	17,356	(40,856)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(15,389)	(5,624)	(40,466)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period	37,066	42,690	83,156
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period	21,677	37,066	42,690
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid, net	(37,222)	(60,625)	(67,037)
Refund (payment) of income taxes, net	192	(3,156)	(594)
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures in accounts payable and accrued expenses	587	586	1,697
Issuance of liability-classified warrants	0	137,581	0
Senior Non-Convertible Preferred Stock accretion	17,650	5,490	0
Senior Non-Convertible Preferred Stock accumulated dividends	$ 56,188	$ 17,058	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
CURRENT ASSETS:
Cash, cash equivalents, and restricted cash	$ 20,718	$ 35,733
Accounts receivable, net of allowances of $7.1 million and $11.8 million, respectively	166,825	151,388
Commissions receivable-current	138,728	132,077
Other current assets	24,676	21,844
Total current assets	350,947	341,042
COMMISSIONS RECEIVABLE—Net	852,675	818,751
PROPERTY AND EQUIPMENT—Net	12,050	14,577
SOFTWARE—Net	18,072	15,060
OPERATING LEASE RIGHT-OF-USE ASSETS	20,511	24,635
INTANGIBLE ASSETS—Net	839	1,973
GOODWILL	29,438	29,438
OTHER ASSETS	2,296	3,880
TOTAL ASSETS	1,286,828	1,249,356
CURRENT LIABILITIES:
Accounts payable	74,033	59,205
Accrued expenses	21,049	13,856
Accrued compensation and benefits	62,265	58,788
Operating lease liabilities—current	4,448	4,820
Current portion of long-term debt	22,014	68,523
Other current liabilities	8,814	7,718
Total current liabilities	192,623	212,910
LONG-TERM DEBT, NET—less current portion	348,154	316,589
DEFERRED INCOME TAXES	49,453	37,872
OPERATING LEASE LIABILITIES	21,753	25,982
OTHER LIABILITIES	24,820	80,485
Total liabilities	636,803	673,838
COMMITMENTS AND CONTINGENCIES (Note 11)
PREFERRED STOCK:
Senior Non-Convertible Preferred Stock, $0.01 par value, 350,000 shares issued and outstanding as of June 30, 2026 and 2025, respectively, current liquidation preference of $423.2 million and $367.1 million as of June 30, 2026 and 2025, respectively.	298,213	224,374
SHAREHOLDERS’ EQUITY:
Common stock, $0.01 par value—700,000,000 shares authorized; 176,470,154 and 172,816,730 shares issued and outstanding as of June 30, 2026 and 2025, respectively.	1,765	1,728
Additional paid-in capital	510,047	571,605
Accumulated deficit	(160,000)	(222,189)
Total shareholders’ equity	351,812	351,144
TOTAL LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS’ EQUITY	$ 1,286,828	$ 1,249,356