7Baggers

SelectQuote, Inc
(NYSE:SLQT) 

SLQT stock logo

Founded in 1985, SelectQuote (NYSE: SLQT) provides solutions that help consumers protect their most valuable assets: their families, health and property. The company pioneered the direct-to-consumer model of providing unbiased comparisons from multiple, highly-rated insurance companies allowing cons...

Founded: 1985
Full Time Employees: 1,900
CEO: Timothy Danker  
Sector: Financial Services
Industry: Insurance Brokers
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• Market Cap:
• Exchange:
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                            
      revenue:
    		                        
      commissions and other services
    		235,663,000 309,893,000 110,267,000 134,503,000 222,889,000 301,069,000 139,380,000                  
      pharmacy
    		195,270,000 227,209,000 218,544,000 210,599,000 185,271,000 180,000,000 152,883,000 140,988,000 120,282,000 108,795,000 94,788,000 79,906,000 66,948,000 51,601,000 41,093,000          
      total revenue
    		430,933,000 537,102,000 328,811,000 345,102,000 408,160,000 481,069,000 292,263,000 307,209,000 376,400,000 405,438,000 232,730,000 221,778,000 299,398,000 319,188,000 162,484,000 136,424,000 275,113,000 194,981,000 159,923,000 188,449,000 266,923,000 358,274,000 124,169,000  
      yoy
    		5.58% 11.65% 12.51% 12.33% 8.44% 18.65% 25.58% 38.52% 25.72% 27.02% 43.23% 62.57% 8.83% 63.70% 1.60% -27.61% 3.07% -45.58% 28.79%      
      qoq
    		-19.77% 63.35% -4.72% -15.45% -15.16% 64.60% -4.87% -18.38% -7.16% 74.21% 4.94% -25.93% -6.20% 96.44% 19.10% -50.41% 41.10% 21.92% -15.14% -29.40% -25.50% 188.54%   
      operating costs and expenses:
    		                        
      cost of commissions and other services revenue
    		83,268,000 103,034,000 69,101,000 58,844,000 79,412,000 101,138,000 65,733,000                  
      cost of goods sold—pharmacy revenue
    		171,289,000 205,194,000 192,779,000 182,311,000 162,304,000 156,201,000 129,524,000 120,644,000 106,172,000 94,180,000 84,008,000 71,210,000 62,302,000 50,096,000 42,354,000          
      marketing and advertising
    		92,481,000 105,028,000 61,947,000 65,283,000 92,733,000 97,725,000 63,764,000 70,182,000 109,276,000 117,078,000 62,323,000 63,521,000 90,205,000 89,925,000 57,594,000 75,079,000 125,082,000 193,246,000 90,677,000 86,595,000 116,690,000 132,206,000 49,800,000  
      selling, general, and administrative
    		38,188,000 38,940,000 35,819,000 41,592,000 41,685,000 45,021,000 36,145,000 43,993,000 34,971,000 33,412,000 28,666,000 49,856,000 27,544,000 28,412,000 30,706,000          
      technical development
    		9,777,000 9,595,000 9,911,000 9,595,000 9,967,000 10,044,000 9,074,000 9,233,000 8,604,000 8,050,000 7,637,000 7,155,000 6,434,000 6,245,000 6,182,000 6,054,000 6,436,000 6,386,000 5,853,000 5,165,000 4,860,000 4,750,000 3,848,000  
      total operating costs and expenses
    		395,003,000 461,791,000 369,557,000 357,625,000 386,101,000 410,129,000 304,240,000 308,600,000 343,338,000 350,144,000 255,145,000 257,439,000 265,671,000 266,155,000 202,000,000 258,072,000 272,008,000 367,887,000 212,087,000 174,488,000 212,240,000 234,120,000 116,895,000  
      income from operations
    		35,930,000 75,311,000 -40,746,000 -12,523,000 22,059,000 70,940,000 -11,977,000 -1,391,000 33,062,000 55,294,000 -22,415,000 -35,661,000 33,727,000 53,033,000 -39,516,000 -121,648,000 3,105,000 -172,906,000 -52,164,000 13,961,000 54,683,000 124,154,000 7,274,000  
      yoy
    		62.88% 6.16% 240.20% 800.29% -33.28% 28.30% -46.57% -96.10% -1.97% 4.26% -43.28% -70.69% 986.22% -130.67% -24.25% -971.34% -94.32% -239.27% -817.13%      
      qoq
    		-52.29% -284.83% 225.37% -156.77% -68.90% -692.30% 761.04% -104.21% -40.21% -346.68% -37.14% -205.73% -36.40% -234.21% -67.52% -4017.81% -101.80% 231.47% -473.64% -74.47% -55.96% 1606.82%   
      operating margin %
    		8.34% 14.02% -12.39% -3.63% 5.40% 14.75% -4.10% -0.45% 8.78% 13.64% -9.63% -16.08% 11.26% 16.61% -24.32% -89.17% 1.13% -88.68% -32.62% 7.41% 20.49% 34.65% 5.86%  
      interest expense
    		-10,602,000 -11,613,000 -11,808,000 -12,225,000 -20,407,000 -23,721,000 -23,031,000 -23,410,000 -24,330,000 -24,415,000 -21,397,000 -21,721,000 -21,105,000 -21,044,000 -16,736,000 -12,295,000 -12,179,000 -10,587,000 -8,535,000 -8,422,000 -7,355,000 -6,782,000 -6,761,000  
      change in fair value of warrants
    		27,489,000 19,296,000 15,036,000 34,181,000 32,986,000                    
      loss on extinguishment of debt
    		-8,659,000                    -3,315,000    
      other expense
    		-34,000 -39,000 -145,000 -58,000 -37,000 -7,663,000 -12,000         -25,000 -23,000 -51,000 -102,000      
      income before income tax expense
    		44,124,000 82,955,000  9,375,000 34,601,000 39,556,000  -1,062,750 8,720,000 30,879,000  -57,385,000 12,416,000 31,919,000  -133,968,000 -9,097,000 -183,544,000  5,496,000 43,664,000 116,956,000   
      income tax expense
    		3,927,000 13,662,000 -7,204,000 -3,493,000 8,579,000 -13,680,000 9,526,000 6,202,000 169,000 11,487,000  -9,547,000 3,152,000 9,405,000  -27,073,000 -2,649,000 -46,536,000  2,184,000 7,183,000 26,540,000   
      net income
    		40,197,000 69,293,000 -30,459,000 12,868,000 26,022,000 53,236,000 -44,546,000 -31,017,000 8,551,000 19,392,000 -31,051,000 -47,838,000 9,264,000 22,514,000 -42,484,000 -106,895,000 -6,448,000 -137,008,000 -45,365,000 3,312,000 36,481,000 90,416,000 837,000  
      yoy
    		54.47% 30.16% -31.62% -141.49% 204.32% 174.53% 43.46% -35.16% -7.70% -13.87% -26.91% -55.25% -243.67% -116.43% -6.35% -3327.51% -117.67% -251.53% -5519.95%      
      qoq
    		-41.99% -327.50% -336.70% -50.55% -51.12% -219.51% 43.62% -462.73% -55.90% -162.45% -35.09% -616.39% -58.85% -152.99% -60.26% 1557.80% -95.29% 202.01% -1469.72% -90.92% -59.65% 10702.39%   
      net income margin %
    		9.33% 12.90% -9.26% 3.73% 6.38% 11.07% -15.24% -10.10% 2.27% 4.78% -13.34% -21.57% 3.09% 7.05% -26.15% -78.35% -2.34% -70.27% -28.37% 1.76% 13.67% 25.24% 0.67%  
      senior non-convertible preferred stock accumulated dividends and accretion
    		-18,775,000 -18,125,000 -17,482,000 -16,761,000 -5,787,000                    
      net income attributable to common shareholders
    		21,422,000 51,168,000  -3,893,000 20,235,000                    
      net income attributable to common shareholders per share:
    		                        
      basic
    		0.11 0.27  -0.03 0.11                    
      diluted
    		0.11 0.26  -0.12 0.03                    
      weighted-average common stock outstanding used in per share amounts:
    		                        
      basic
    		189,455 187,573 185,816 176,148 178,156 171,802 170,431 168,519 169,070 168,349 167,453 166,140 166,543 166,486 164,824 164,042 164,083 163,966 163,692 162,889 163,023 162,645 162,448  
      diluted
    		190,481 190,830 185,816 181,895 186,639 175,101 170,431 168,519 170,956 169,737 167,453 166,140 167,905 166,548 164,824 164,042 164,083 163,966 163,692 165,544 165,731 165,563 165,192  
      other comprehensive loss, net of tax:
    		                        
      unrealized loss, net of related tax benefit for the three and nine months ended march 31, 2026, and 2025, of 0.0 million and 0.1 million
    		                        
      amount reclassified into earnings, net of related tax benefit for the three months ended march 31, 2026, and 2025, of 0.0 million, and 0.0 million and for the nine months ended march 31, 2026, and 2025, of 0.0 million and 1.3 million.
    		                        
      other comprehensive loss
    		   -1,028  -1,327 -2,785            -6    -257  
      comprehensive income
    		40,197 69,293  12,868 26,022 51,909  -2,577.75 6,780 15,970  -47,233 6,603 22,133  -104,766 1,141 -135,233 -45,371 3,126 38,291 90,532 580  
      unrealized loss, net of related tax benefit for the three and six months ended december 31, 2025, and 2024, of 0.0 million and 0.1 million
    		                        
      amount reclassified into earnings, net of related tax benefit for the three months ended december 31, 2025, and 2024, of 0.0 million and 0.3 million, and for the six months ended december 31, 2025, and 2024, of 0.0 million and 1.3 million.
    		                        
      loss before income tax expense
    		  -37,663,000    -35,020,000                  
      net loss attributable to common shareholders
    		  -47,941,000                      
      net loss attributable to common shareholders per share:
    		                        
      basic
    		  -0.26                      
      diluted
    		  -0.26                      
      unrealized loss, net of related tax benefit of 0.0 million and 0.0 million
    		                        
      amount reclassified into earnings, net of related tax benefit of 0.0 million and 1.0 million
    		                        
      comprehensive loss
    		  -30,459    -47,331    -33,061    -38,084          
      other comprehensive income net of tax:
    		                        
      change in cash flow hedge
    		     -1,327 -2,785                  
      net income per share
    		                        
      basic
    		     0.31 -0.26 -0.18 0.05 0.12 -0.19 -0.29 0.06 0.14 -0.26 -0.65 -0.04 -0.84 -0.28 0.01 0.22 0.56 0.01  
      diluted
    		     0.3 -0.26 -0.18 0.05 0.11 -0.19 -0.29 0.06 0.14 -0.26 -0.65 -0.04 -0.84 -0.28 0.02 0.22 0.55 0.01  
      other comprehensive loss net of tax:
    		                        
      commission
    		       152,936,000 230,763,000 263,225,000 117,756,000 119,843,000 197,258,000 230,033,000 106,335,000 92,024,000 222,538,000 140,701,000 134,651,000 162,294,000 236,793,000 320,974,000 106,545,000  
      other
    		       19,739,500 25,355,000 33,418,000 20,186,000 22,029,000 35,192,000 37,554,000 15,056,000          
      cost of revenue
    		       63,562,500 84,315,000 97,424,000 72,511,000 65,697,000 79,186,000 91,477,000 65,164,000 107,076,000 119,459,000 148,108,000 92,165,000 64,110,000 71,439,000 84,121,000 51,045,000  
      other income (expense,) net
    		       -12,750 -12,000                
      gain on cash flow hedge
    		       -1,800.75 -1,771 -3,422 -2,010 605 -2,661 -381 4,400 2,129 7,589 1,775  -186 1,810 116   
      other comprehensive income
    		       -2,364 -1,771 -3,422 -2,010 605 -2,661 -381 4,400 2,129 7,589 1,775  -186 1,810    
      other income
    		          -38,000 -29,500 -206,000 -70,000 158,000          
      loss before income tax benefit
    		          -43,850,000    -56,094,000    -60,801,000    -267,000  
      income tax benefit
    		          -12,799,000    -13,610,000    -15,436,000    -1,104,000  
      production bonus and other
    		               33,031,750 52,575,000 54,280,000 25,272,000 26,155,000 30,130,000 37,300,000 17,624,000  
      general and administrative
    		               25,267,000 21,031,000 20,147,000 23,392,000 18,618,000 19,251,000 13,043,000 12,202,000  
      other comprehensive income, net of tax:
    		                        
      loss on cash flow hedge
    		                  -6    -257  
      other expenses
    		                   -43,000 -349,000 -416,000 -780,000  
      other comprehensive gain net of tax:
    		                        
      other comprehensive gain
    		                     116   
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                              
        assets
      		                        
        current assets:
      		                        
        cash, cash equivalents, and restricted cash
      		35,211,000 22,201,000 14,461,000 35,733,000 84,795,000                    
        accounts receivable
      		234,291,000 127,647,000 104,485,000 151,388,000 184,879,000 115,795,000 99,534,000 150,035,000 253,083,000 142,590,000 115,872,000 154,565,000 211,686,000 134,912,000 122,978,000 129,748,000 168,735,000 149,399,000 96,673,000 113,375,000 137,839,000 146,989,000 69,273,000 83,634,000 
        commissions receivable-current
      		76,836,000 253,039,000 193,395,000 132,077,000 75,326,000 224,787,000 176,760,000 119,871,000 69,165,000 207,279,000 160,370,000 111,148,000 68,531,000 219,990,000 169,965,000 116,277,000 77,158,000 202,289,000 155,482,000 89,120,000 79,579,000 76,265,000 56,321,000 51,209,000 
        other current assets
      		20,900,000 21,928,000 19,622,000 21,844,000 15,216,000 19,686,000 20,144,000 20,327,000 24,115,000 27,100,000 16,361,000 14,355,000 11,504,000 13,384,000 14,259,000 15,751,000 13,246,000 10,511,000 7,917,000 4,486,000 4,958,000 7,383,000 7,528,000 10,121,000 
        total current assets
      		367,238,000 424,815,000 331,963,000 341,042,000 360,216,000 372,372,000 306,882,000 332,923,000 384,171,000 387,818,000 341,089,000 363,224,000 383,769,000 404,383,000 378,285,000 402,773,000 458,498,000 555,556,000 443,690,000 493,435,000 591,424,000 476,544,000 480,493,000 513,834,000 
        commissions receivable—net
      		882,693,000 840,739,000 786,434,000 818,751,000 839,757,000 812,037,000 743,024,000 761,446,000 763,958,000 747,079,000 709,277,000 729,350,000 753,003,000 733,337,000 704,673,000 722,349,000    756,777,000 684,570,000 655,828,000 502,582,000 461,752,000 
        property and equipment—net
      		13,247,000 14,668,000 14,377,000 14,577,000 15,411,000 16,257,000 18,191,000 18,973,000 22,536,000 23,389,000 24,840,000 27,452,000 31,601,000 34,786,000 38,178,000 41,804,000 45,558,000 42,676,000 38,525,000 29,510,000 23,311,000 24,512,000 24,535,000 22,150,000 
        software—net
      		16,953,000 16,209,000 15,782,000 15,060,000 14,425,000 14,127,000 14,224,000 13,978,000 13,952,000 14,428,000 14,677,000 14,740,000 16,127,000 16,099,000 16,351,000 16,301,000 15,558,000 15,009,000 14,264,000 12,611,000 11,513,000 10,085,000 9,339,000 8,399,000 
        operating lease right-of-use assets
      		21,566,000 22,603,000 23,615,000 24,635,000 24,799,000 22,002,000 22,591,000 23,437,000 19,341,000 22,035,000 22,779,000 23,563,000 26,312,000 27,285,000 28,265,000 28,016,000 29,018,000 30,571,000 30,547,000 31,414,000 30,381,000 29,182,000 30,142,000  
        intangible assets—net
      		1,120,000 1,404,000 1,689,000 1,973,000 7,098,000 8,130,000 9,162,000 10,194,000 7,926,000 8,684,000 9,442,000 10,200,000 27,019,000 28,411,000 29,802,000 31,255,000 36,022,000 37,727,000 39,432,000 40,670,000 41,438,000 18,015,000 18,820,000 19,673,000 
        goodwill
      		29,438,000 29,438,000 29,438,000 29,438,000 29,438,000 29,438,000 29,438,000 29,438,000 29,136,000 29,136,000 29,136,000 29,136,000 29,136,000 29,136,000 29,136,000 29,136,000 73,732,000 73,732,000 73,732,000 68,019,000 49,955,000 46,456,000 46,456,000 46,577,000 
        other assets
      		2,455,000 2,383,000 3,678,000 3,880,000 4,689,000 4,804,000 3,359,000 3,519,000 4,119,000 3,350,000 18,904,000 21,586,000 20,989,000 24,476,000 24,624,000 18,418,000 15,790,000 6,046,000 1,362,000 1,436,000 1,522,000 1,427,000 1,438,000 1,408,000 
        total assets
      		1,334,710,000 1,352,259,000 1,206,976,000 1,249,356,000 1,295,833,000 1,279,167,000 1,146,871,000 1,193,908,000 1,245,139,000 1,235,919,000 1,170,144,000 1,219,251,000 1,287,956,000 1,297,913,000 1,249,314,000 1,290,052,000 1,435,314,000 1,444,833,000 1,389,742,000 1,433,872,000 1,434,114,000 1,262,049,000 1,113,805,000 1,073,793,000 
        liabilities, preferred stock, and shareholders’ equity
      		                        
        current liabilities:
      		                        
        accounts payable
      		103,205,000 80,433,000 34,567,000 59,205,000 77,713,000 87,165,000 51,108,000 36,587,000 61,168,000 57,392,000 31,964,000 27,577,000 31,608,000 27,356,000 20,557,000 24,766,000 27,445,000 47,579,000 28,495,000 34,079,000 35,467,000 32,420,000 10,184,000 22,891,000 
        accrued expenses
      		24,092,000 57,477,000 50,001,000 13,856,000 17,481,000 12,617,000 15,409,000 16,904,000 21,058,000 16,698,000 18,284,000 16,993,000 23,162,000 21,859,000 17,093,000 26,002,000 35,593,000 22,904,000 22,836,000 20,676,000 23,090,000 15,535,000 14,667,000 14,936,000 
        accrued compensation and benefits
      		68,646,000 62,209,000 49,816,000 58,788,000 59,257,000 55,666,000 44,735,000 57,594,000 57,483,000 48,680,000 37,953,000 49,966,000 49,087,000 46,065,000 38,723,000 42,150,000 46,229,000 43,384,000 43,648,000 40,909,000 41,693,000 35,067,000 24,530,000 22,228,000 
        operating lease liabilities—current
      		4,665,000 4,887,000 4,886,000 4,820,000 4,847,000 4,981,000 4,764,000 4,709,000 4,663,000 5,133,000 4,980,000 5,175,000 5,958,000 6,349,000 6,245,000 5,261,000 5,181,000 5,251,000 5,355,000 5,289,000 5,130,000 5,093,000 4,685,000  
        current portion of long-term debt
      		22,457,000 20,104,000 68,337,000 68,523,000 28,991,000 27,577,000 43,290,000 45,854,000 37,717,000 42,766,000 33,883,000 33,883,000 25,412,000 21,400,000 17,387,000 7,169,000 7,169,000 7,169,000 3,540,000      
        other current liabilities
      		8,035,000 7,829,000 6,152,000 7,020,000 4,469,000 5,440,000 4,487,000 4,873,000 4,227,000 4,211,000 3,925,000 1,972,000 1,580,000 2,374,000 3,403,000 8,165,000 2,079,000 9,120,000 24,618,000 7,864,000 9,869,000 20,938,000 22,406,000 4,944,000 
        total current liabilities
      		231,100,000 234,776,000 215,730,000 212,910,000 193,703,000 194,400,000 166,745,000 174,587,000 189,971,000 183,972,000 136,746,000 137,257,000 146,524,000 164,155,000 145,255,000 113,513,000 123,696,000 135,407,000 128,492,000 108,817,000 115,249,000 141,019,000 108,043,000 95,811,000 
        long-term debt, net—less current portion
      		353,326,000 385,692,000 324,812,000 316,589,000 362,493,000 684,284,000 637,155,000 637,480,000 648,331,000 650,772,000 661,185,000 664,625,000 667,306,000 670,119,000 672,872,000 698,423,000 699,386,000 700,350,000       
        deferred income taxes
      		45,211,000 42,091,000 28,703,000 37,872,000 39,980,000 31,868,000 46,018,000 37,478,000 35,057,000 36,668,000 26,041,000 39,581,000 49,134,000 46,896,000 37,667,000 50,080,000 76,806,000 76,942,000 125,181,000 140,988,000 138,870,000 131,121,000 104,547,000 105,844,000 
        operating lease liabilities
      		22,678,000 23,575,000 24,812,000 25,982,000 26,183,000 23,539,000 24,560,000 25,685,000 22,326,000 25,245,000 26,590,000 27,892,000 30,329,000 31,749,000 33,058,000 33,946,000 35,301,000 36,951,000 37,186,000 38,392,000 37,716,000 36,958,000 37,600,000  
        other liabilities
      		18,904,000 46,482,000 65,993,000 80,485,000 115,649,000 19,074,000 2,954,000 1,877,000 2,649,000 2,745,000 2,844,000 2,926,000 3,244,000 3,229,000 3,764,000 2,985,000 3,533,000 2,779,000 6,446,000 11,743,000 11,149,000 5,480,000 6,066,000 14,635,000 
        total liabilities
      		671,219,000 732,616,000 660,050,000 673,838,000 738,008,000 953,165,000 877,432,000 877,107,000 898,334,000 899,402,000 853,406,000 872,281,000 896,537,000 916,148,000 892,616,000 898,947,000 938,722,000 952,429,000 755,957,000 758,983,000 763,599,000 627,914,000 568,831,000 528,104,000 
        commitments and contingencies
      		                        
        contract liabilities
      		 1,837,000 1,971,000 698,000 945,000 954,000 2,952,000 8,066,000 3,655,000 9,092,000 5,757,000 1,691,000 9,717,000 38,752,000 41,847,000          
        cash and, cash equivalents, and restricted cash
      		     12,104,000                   
        liabilities and shareholders’ equity
      		                        
        shareholders’ equity:
      		                        
        common stock
      		     1,721,000 1,715,000 1,694,000 1,692,000 1,690,000 1,677,000 1,669,000 1,667,000 1,665,000 1,665,000 1,644,000 1,644,000 1,640,000 1,639,000 1,635,000 1,634,000 1,628,000 1,625,000 1,622,000 
        additional paid-in capital
      		     585,360,000 580,712,000 580,764,000 577,389,000 573,883,000 570,087,000 567,266,000 564,484,000 561,435,000 558,501,000 554,845,000 554,045,000 551,002,000 549,034,000 544,771,000 543,524,000 545,441,000 546,815,000 548,113,000 
        accumulated deficit
      		     -261,079,000 -314,315,000 -269,769,000 -238,752,000 -247,303,000 -266,695,000 -235,644,000 -187,806,000 -197,070,000 -219,584,000        -1,955,000  
        accumulated other comprehensive income
      		      1,327,000 4,112,000 6,476,000 8,247,000 11,669,000 13,679,000 13,074,000 15,735,000 16,116,000 11,716,000 9,587,000 1,998,000 223,000 229,000 415,000    
        total shareholders’ equity
      		     326,002,000 269,439,000 316,801,000 346,805,000 336,517,000 316,738,000 346,970,000 391,419,000 381,765,000 356,698,000 391,105,000 496,592,000 492,404,000 633,785,000 674,889,000 670,515,000 634,135,000 544,974,000 545,689,000 
        total liabilities and shareholders’ equity
      		     1,279,167,000 1,146,871,000 1,193,908,000 1,245,139,000 1,235,919,000 1,170,144,000 1,219,251,000 1,287,956,000 1,297,913,000 1,249,314,000 1,290,052,000 1,435,314,000 1,444,833,000 1,389,742,000 1,433,872,000 1,434,114,000 1,262,049,000 1,113,805,000  
        cash and cash equivalents
      		      10,444,000 42,690,000 37,808,000 10,849,000 48,486,000 83,156,000 92,048,000 36,097,000 71,083,000 140,997,000 199,359,000 193,357,000 183,618,000 286,454,000 369,048,000 209,739,000 305,389,000 321,065,000 
        retained earnings
      		               -177,100,000 -68,684,000 -62,236,000 82,889,000 128,254,000 124,942,000 88,461,000   
        commissions receivable
      		                761,138,000 683,516,000 748,190,000      
        long-term debt, less current portion
      		                  458,652,000      
        restricted cash
      		                     36,168,000 41,982,000 47,805,000 
        earnout liability
      		                     31,966,000 31,571,000 30,812,000 
        debt
      		                   459,043,000 460,615,000 313,336,000 312,575,000 311,814,000 
        accumulated other comprehensive loss
      		                     -1,395,000 -1,511,000 -1,254,000 
        liabilities, temporary equity, and shareholders’ equity
      		                        
        non-recourse debt—current
      		                        
        non-recourse debt—net
      		                        
        temporary equity:
      		                        
        series a redeemable convertible preferred stock, 0.01 par value—no shares issued or outstanding as of june 30, 2020; 1,137,235 shares authorized, 1,137,235 shares issued, and 847,776 shares outstanding as of june 30, 2019
      		                        
        series b convertible preferred stock, 0.01 par value—no shares issued or outstanding as of june 30, 2020; 821,690 shares authorized, 821,690 issued, and 609,774 shares outstanding as of june 30, 2019, respectively
      		                        
        series c convertible preferred stock, 0.01 par value—no shares issued or outstanding as of june 30, 2020; 69,925 shares authorized, 69,925 shares issued, and 51,369 shares outstanding as of june 30, 2019
      		                        
        series d convertible preferred stock, 0.01 par value—no shares issued, and outstanding as of june 30, 2020; 4,000,000 shares authorized, issued, and outstanding as of june 30, 2019
      		                        
        total temporary equity
      		                        
        treasury stock
      		                        
        retained earnings /
      		                       -2,792,000 
        total liabilities, temporary equity, and shareholders’ equity
      		                       1,073,793,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                               
          cash flows from operating activities:
        		                       
          net income
        		40,197,000   12,868,000 26,022,000           -106,895,000 -6,448,000 -138,796,000 -45,365,000 3,312,000 36,481,000 90,416,000 837,000 
          adjustments to reconcile net income to net cash, cash equivalents, and restricted cash from operating activities:
        		                       
          depreciation and amortization
        		4,385,000 4,322,000 4,300,000 4,876,000 4,925,000 5,060,000 5,599,000 6,407,000 6,704,000 5,898,000 5,989,000 6,794,000 7,097,000 7,188,000 6,802,000 6,767,000 6,679,000 6,175,000 5,103,000 4,882,000 4,323,000 3,590,000 3,347,000 
          loss on disposal of property, equipment, and software
        		   80,000 3,000 89,000 68,000 523,000 4,000 0 9,000 364,000 14,000 51,000 325,000 717,000 386,000 5,000 350,000 425,000 99,000 80,000 82,000 
          impairment of equity-method investment
        		0                       
          loss on extinguishment of debt
        		                       
          share-based compensation expense
        		3,678,000 3,475,000 4,327,000 4,852,000 4,960,000 4,699,000 3,846,000 3,304,000 3,515,000 3,822,000 3,175,000 2,785,000 2,959,000 2,936,000 2,630,000 800,000 2,143,000 1,894,000 2,215,000 1,476,000 1,430,000 1,335,000 924,000 
          deferred income taxes
        		3,120,000 13,388,000 -9,168,000 -2,575,000 8,578,000 -13,680,000 9,526,000 3,314,000 -969,000 11,867,000 -13,049,000 -9,760,000 3,156,000 9,359,000 -13,931,000 -27,093,000 -2,683,000 -47,133,000 -15,807,000 2,179,000 7,154,000 26,535,000 -1,214,000 
          amortization of debt issuance costs and debt discount
        		897,000 1,262,000 1,184,000 1,367,000 1,501,000 1,315,000 1,064,000 1,279,000 1,507,000 1,744,000 1,612,000 2,426,000 2,331,000 2,307,000 1,612,000 1,244,000 1,243,000 2,112,000 862,000 862,000 838,000 822,000 822,000 
          write-off of debt issuance costs
        		   0 0   0    0 0 0 710,000     0    
          accrued interest payable in kind
        		   712,000 3,628,000 4,384,000 5,289,000 5,254,000 5,303,000 5,398,000 3,622,000 3,565,000 3,530,000 3,613,000 1,307,000         
          change in fair value of warrants
        		-27,489,000 -19,296,000 -15,036,000 -34,181,000                    
          non-cash lease expense
        		1,037,000 1,012,000 1,021,000 1,073,000 1,003,000 943,000 903,000 404,000 417,000 744,000 784,000 1,070,000 1,033,000 979,000 1,103,000 1,002,000 1,025,000 1,046,000 994,000 954,000 982,000 976,000 911,000 
          bad debt expense
        		   0 0                   
          changes in operating assets and liabilities:
        		                       
          accounts receivable
        		-106,644,000 -23,161,000 46,902,000 33,492,000 -69,085,000 -20,463,000 50,501,000 103,722,000 -110,494,000 -26,718,000 38,693,000 37,921,000 -76,774,000 -20,734,000 34,770,000 37,054,000 -19,374,000 -60,765,000 17,336,000 25,078,000 10,450,000 -77,716,000 14,361,000 
          commissions receivable
        		134,248,000 -113,949,000 -29,001,000 -35,745,000 121,742,000 -117,041,000 -38,466,000 -48,194,000 121,235,000 -84,712,000 -29,148,000 -18,964,000 131,793,000 -78,689,000 -36,012,000 -330,000 47,509,000 17,867,000 -57,775,000 -81,748,000 -32,056,000 -173,190,000 -45,942,000 
          other assets
        		1,035,000 -2,145,000 2,371,000 -5,939,000 4,459,000 -1,286,000 -3,516,000 653,000 -545,000 -48,000 -2,027,000 -2,997,000 1,588,000 307,000 1,271,000 -2,640,000 -2,720,000 -2,598,000 -2,957,000 499,000 2,443,000 116,000 1,790,000 
          accounts payable and accrued expenses
        		-10,045,000 52,233,000 11,395,000 -21,937,000 -5,048,000 33,450,000 12,761,000 -28,726,000 6,867,000 23,949,000 5,257,000 -10,089,000 5,490,000 11,446,000 -10,496,000 -12,560,000 -7,039,000 22,077,000 -6,942,000 -6,495,000 10,531,000 24,410,000 -8,718,000 
          operating lease liabilities
        		-1,118,000 -1,236,000 -1,105,000 -1,137,000 -1,289,000 -1,158,000 -1,127,000 -1,095,000 -1,113,000 -1,191,000 -1,498,000 -1,312,000 -1,871,000 -1,204,000 -1,256,000 -1,275,000 -1,192,000 -1,409,000 -1,267,000 -1,151,000 -1,386,000 -250,000 -995,000 
          other liabilities
        		4,815,000 13,854,000 -8,354,000 503,000 2,707,000 9,820,000 -18,512,000 4,167,000 3,205,000 14,287,000 -6,039,000 12,161,000 -26,871,000 11,523,000 6,479,000 1,514,000 1,850,000 -19,141,000 16,178,000 -4,769,000 -1,993,000 8,680,000 23,691,000 
          net cash from operating activities
        		56,775,000 52,000 -21,623,000 -37,482,000 71,120,000 -28,694,000 -16,610,000 19,995,000 44,480,000 -25,568,000 -23,671,000 -6,542,000 62,739,000 -28,404,000 -47,170,000 -53,952,000 21,379,000 -218,666,000 -87,075,000 -54,495,000 42,200,000 -93,802,000 -9,345,000 
          capital expenditures
        		-947,000 -1,088,000 -1,058,000 -501,000 -949,000 -299,000 -442,000 -268,000 -1,052,000 -1,446,000 -616,000 -391,000 -458,000 -300,000 -298,000 -283,000 -6,611,000 -10,080,000 -7,824,000 -8,387,000 -752,000 -3,017,000 -2,751,000 
          free cash flows
        		55,828,000 -1,036,000 -22,681,000 -37,983,000 70,171,000 -28,993,000 -17,052,000 19,727,000 43,428,000 -27,014,000 -24,287,000 -6,933,000 62,281,000 -28,704,000 -47,468,000 -54,235,000 14,768,000 -228,746,000 -94,899,000 -62,882,000 41,448,000 -96,819,000 -12,096,000 
          cash flows from investing activities:
        		                       
          purchases of property and equipment
        		-947,000 -1,088,000 -1,058,000 -501,000 -949,000 -299,000 -442,000 -268,000 -1,052,000 -1,446,000 -616,000 -391,000 -458,000 -300,000 -298,000 -283,000 -6,611,000 -10,080,000 -7,824,000 -8,387,000 -752,000 -3,017,000 -2,751,000 
          purchases of software and capitalized software development costs
        		-3,005,000 -2,559,000 -2,926,000 -2,610,000 -2,408,000 -1,973,000 -2,132,000 -2,219,000 -2,182,000 -2,101,000 -1,782,000 -1,874,000 -1,934,000 -1,783,000 -2,087,000 -2,281,000 -2,339,000 -2,215,000 -3,016,000 -2,274,000 -2,358,000 -1,864,000 -1,585,000 
          net cash from investing activities
        		-3,952,000 -3,647,000 -3,984,000 -3,111,000 -3,357,000 -2,272,000 -2,574,000 -5,920,000 -3,234,000 -3,547,000 -2,145,000 -2,265,000 -2,392,000 -2,083,000 -2,385,000 -2,564,000 -8,950,000 -13,295,000 -17,767,000 -27,810,000 -27,110,000 -4,881,000 -4,215,000 
          cash flows from financing activities:
        		                       
          proceeds from revolving credit facility
        		13,000,000 177,000,000 80,000,000 0 82,000,000           0        
          payments on revolving credit facility
        		-51,000,000 -154,000,000 -65,000,000 0 -140,000,000           0        
          net proceeds from term loan
        		                       
          payments on term loans
        		-304,354,000 -6,073,000 -3,573,000 -3,572,000 -261,429,000 -114,744,000 -8,471,000 -8,471,000 -13,470,000 -8,471,000 -8,471,000 0 -4,458,000 -4,458,000 -8,917,000 -1,180,000    0    
          proceeds on abs notes
        		   0 0                   
          payments on abs notes
        		-4,962,000 -5,511,000 -4,543,000 -4,854,000 -5,451,000                   
          payments on other debt
        		-137,000 -131,000 -112,000 -110,000 -88,000 -84,000 -30,000 -37,000 -37,000 -38,000 -37,000 -35,000 -40,000 -39,000 -44,000 -54,000 -37,000 -47,000 -46,000 -62,000 -81,000 -40,000 -68,000 
          proceeds from common stock options exercised and employee stock purchase plan
        		   -14,000 74,000 0 38,000 73,000    0 109,000 -1,000 1,079,000 0 908,000 77,000 2,194,000 109,000    
          proceeds from issuance of senior non-convertible preferred stock
        		   0                    
          senior non-convertible preferred stock issuance costs
        		   0                    
          payments of tax withholdings related to net share settlement of equity awards
        		-28,000 -51,000 -2,460,000 -13,000 -1,059,000 -45,000 -3,915,000 0 -15,000 -13,000 -346,000 0 -7,000 -1,000 -32,000 0 -4,000 -2,000 -142,000 -336,000 -4,706,000 -2,811,000 -2,509,000 
          payments of debt issuance costs
        		-7,658,000 0 -72,000 0 0 -1,795,000 -684,000 -758,000    0 0 0 -10,110,000 0 0   0    
          net cash from financing activities
        		-39,905,000 11,234,000 4,240,000 -8,563,000   -13,062,000 -9,193,000 -14,287,000 -8,522,000 -8,854,000 -85,000 -4,396,000 -4,499,000 -20,359,000 -1,846,000 -6,427,000 241,700,000 2,006,000 -289,000 108,050,000 -2,781,000 -7,938,000 
          net increase in cash, cash equivalents and restricted cash
        		                       
          cash, cash equivalents and restricted cash —beginning of period
        		0 0 37,066,000 0 0                   
          cash, cash equivalents and restricted cash —end of period
        		12,918,000 7,639,000 15,699,000 -49,156,000 72,589,000                   
          net decrease in cash, cash equivalents and restricted cash
        		 7,639,000 -21,367,000                     
          net loss
        		  -30,459,000    -44,546,000 -31,017,000 8,551,000 19,392,000 -31,051,000  9,264,000 22,514,000 -42,484,000         
          adjustments to reconcile net loss to net cash, cash equivalents, and restricted cash from operating activities:
        		                       
          impairment of long-lived assets
        		                       
          proceeds from sales of property and equipment
        		       0 0 0 253,000             
          acquisition of business
        		               0 0 0 -6,927,000 -17,149,000 -24,000,000 0 121,000 
          payment of acquisition holdback
        		           -50,000 0 0 -2,335,000 0        
          change in fair value of warrant liabilities
        		                       
          net cash provided (used in) financing activities
        		                       
          adjustments to reconcile net loss to net cash and cash equivalents from operating activities:
        		                       
          net decrease in cash and cash equivalents
        		      -32,246,000 4,882,000 26,959,000 -37,637,000 -34,670,000 -8,892,000 55,951,000 -34,986,000 -69,914,000         
          cash and cash equivalents—beginning of period
        		      42,690,000  0 0 83,156,000  0 0 140,997,000         
          cash and cash equivalents—end of period
        		      10,444,000  26,959,000 -37,637,000 48,486,000  55,951,000 -34,986,000 71,083,000         
          goodwill impairment
        		                       
          investment in equity securities
        		               0 0       
          net proceeds from term loans
        		                   0    
          cash and cash equivalents—beginning of year
        		                       
          cash and cash equivalents—end of year
        		                       
          adjustments to reconcile net income to net cash and cash equivalents from operating activities:
        		                       
          fair value adjustments to contingent earnout obligations
        		                   1,000 334,000 394,000 759,000 
          payments of costs incurred in connection with private placement
        		                   0 0 0 -1,771,000 
          payments of costs incurred in connection with initial public offering
        		                   0 0 -12,000 -3,899,000 
          payment of contingent earnout liability
        		                   0    
          cash, cash equivalents, and restricted cash—beginning of year
        		                       
          cash, cash equivalents, and restricted cash—end of year
        		                       
          proceeds from term loans
        		                       
          proceeds from ddtl facility
        		               0        
          payments on ddtl facility
        		               -612,000        
          proceeds from other debt
        		                       
          cash dividends paid
        		                       
          issuance of preferred stock
        		                       
          proceeds from initial public offering, net of underwriters’ discounts and commissions
        		                       
          net increase in cash, cash equivalents, and restricted cash
        		                   -82,594,000 123,140,000 -101,464,000 -21,498,000 
          net increase in cash and cash equivalents
        		                       
          proceeds from revolving line of credit
        		                       
          payments on revolving line of credit
        		                       
          net proceeds from senior secured delayed draw term loan facility
        		                       
          net decrease in cash, cash equivalents, and restricted cash
        		                 9,739,000 -102,836,000     
          cash, cash equivalents, and restricted cash—beginning of period
        		                 0 286,454,000  1,000 0 368,869,000 
          cash, cash equivalents, and restricted cash—end of period
        		                 9,739,000 183,618,000  123,141,000 -101,464,000 347,371,000 
          purchase of treasury stock
        		                       
          proceeds from common stock option exercises
        		                     82,000 309,000 
          stock compensation expense
        		                       
          acquisition of business, net of cash acquired
        		                       
          payments on term loan
        		                       
          proceeds from non-recourse debt
        		                       
          debt issuance costs