Hagerty Inc

For the period ended Mar 31, 2024. Filed May 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 7, 2024

HGTY$17.22-4.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Balance Sheets

Condensed Consolidated Balance Sheets (Unaudited)

	March 31,	December 31,
	2024	2023
ASSETS	in thousands (except share amounts)
Current Assets:
Cash and cash equivalents	$131,207	$108,326
Restricted cash and cash equivalents	595,601	615,950
Accounts receivable	71,883	71,530
Premiums receivable	157,105	137,525
Commissions receivable	14,877	79,115
Notes receivable	56,509	35,896
Deferred acquisition costs, net	136,925	141,637
Other current assets	80,865	60,239
Total current assets	1,244,972	1,250,218
Notes receivable	4,438	17,018
Property and equipment, net	19,820	20,764
Lease right-of-use assets	49,412	50,515
Intangible assets, net	88,335	91,924
Goodwill	114,195	114,214
Other long-term assets	49,076	43,559
TOTAL ASSETS	$1,570,248	$1,588,212
LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	$94,896	$87,175
Losses payable and provision for unpaid losses and loss adjustment expenses	204,075	198,508
Commissions payable	71,070	108,739
Due to insurers	97,367	79,815
Advanced premiums	37,749	20,471
Unearned premiums	312,702	317,275
Contract liabilities	31,330	30,316
Total current liabilities	849,189	842,299
Long-term lease liabilities	49,198	50,459
Long-term debt, net	91,470	130,680
Warrant liabilities	40,158	34,018
Deferred tax liability	15,298	15,937
Contract liabilities	16,835	17,335
Other long-term liabilities	2,607	4,139
TOTAL LIABILITIES	1,064,755	1,094,867
Commitments and Contingencies (Note 19)	—	—
TEMPORARY EQUITY
Preferred stock, $0.0001 par value (20,000,000 shares authorized, 8,483,561 Series A Convertible Preferred Stock issued and outstanding as of March 31, 2024 and December 31, 2023)	84,674	82,836
STOCKHOLDERS' EQUITY
Class A Common Stock, $0.0001 par value (500,000,000 shares authorized, 84,655,539 and 84,588,536 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively)	8	8
Class V Common Stock, $0.0001 par value (300,000,000 authorized, 251,033,906 shares issued and outstanding as of March 31, 2024 and December 31, 2023)	25	25
Additional paid-in capital	564,082	561,754
Accumulated earnings deficit	(470,346)	(468,995)
Accumulated other comprehensive income (loss)	(236)	(88)
Total stockholders' equity	93,533	92,704
Non-controlling interest	327,286	317,805
Total equity (Note 14)	420,819	410,509
TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY	$1,570,248	$1,588,212

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.