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SelectQuote, Inc. (SLQT) is a technology-enabled, direct-to-consumer platform specializing in the distribution of insurance policies and healthcare services. The company connects consumers with insurance carrier partners through its proprietary technology and skilled agents, offering a range of insurance products and healthcare solutions. Its operations focus on maximizing customer lifetime value and improving health outcomes through innovative services.
- Senior - Offers Medicare-related products, including Medicare Advantage, Medicare Supplement, prescription drug plans, and ancillary products like dental, vision, and hearing coverage.
- Healthcare Services - Provides pharmacy services through SelectRx, including prescription medications, customized packaging, and medication therapy management to enhance health outcomes and medication adherence.
- Life - Distributes life insurance policies tailored to individual consumer needs.
- Auto & Home - Facilitates comparison shopping for automobile and home insurance policies.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Timothy R. Danker ExecutiveBoard | Chief Executive Officer | Timothy R. Danker has been the CEO of SelectQuote, Inc. since 2017 and has served on its Board of Directors since 2017. | View Report → | |
Daniel A. Boulware Executive | General Counsel and Secretary | Daniel A. Boulware has served as General Counsel and Secretary of SelectQuote, Inc. since October 2019, and previously served as Vice President and General Counsel at SS&C Health. He began his legal career at Polsinelli PC in 2002 and was promoted to Shareholder in 2012. | ||
Joshua B. Matthews Executive | President of SelectQuote's Senior Division | Joshua B. Matthews has served as President of SelectQuote's Senior Division since July 2022. He previously held executive roles including Executive Vice President of Medicare Sales Operations from July 2019 to June 2022 and joined SelectQuote in 2014. | ||
Robert Grant Executive | President of SelectQuote | Robert Grant has served as the President of SelectQuote since October 2021. Previously, he held several leadership roles at SLQT, including President of the Senior Division from 2019 to 2021 and Chief Revenue Officer from 2017 to 2019. | ||
Ryan M. Clement Executive | Chief Financial Officer | Ryan M. Clement is the Chief Financial Officer of SelectQuote, Inc. since February 2023, having previously served as Interim CFO from June 2022 and as Senior Vice President of Financial Planning & Analysis starting January 2022. | ||
Ryan Souan Executive | Chief Marketing Officer | Ryan Souan is the Chief Marketing Officer at SLQT since April 2024. Previously, he held various executive roles including EVP of Marketing and Vice President positions at SLQT from 2017 onwards. | ||
Sarah Anderson Executive | Executive Vice President of Pharmacy Services | Sarah Anderson has served as the Executive Vice President of Pharmacy Services at SLQT since July 2024, after holding several senior marketing and operational roles at the company, including as Senior Director of Marketing for the Senior division since 2018. She brings extensive expertise in healthcare services and corporate strategy from her varied roles. | ||
Stephanie Fisher Executive | Chief Accounting Officer | Stephanie Fisher serves as Chief Accounting Officer at SelectQuote, Inc. since August 2020; previously, she served as CFO at Yellow Corporation from 2017 to 2020. | ||
William Grant III Executive | Chief Operating Officer | William Grant III has served as Chief Operating Officer at SLQT since 2019, and previously served as Chief Marketing Officer and President of the Senior Division from 2017 to 2019, as well as Senior Vice President of Marketing for the Senior Division from 2012 to 2017. |
- Given that your tenured agent force delivered close rates 24% higher and drove a 33% increase in productivity with a 22% reduction in agent count, how will you recalibrate your agent force strategy in future AEP seasons to balance capital constraints with growth opportunities?
- With the recent $350 million preferred equity offering and delays in completing securitizations impacting your agent headcount, how do you plan to optimize capital deployment to ensure that you capture additional MA business in future cycles?
- Your revised fiscal 2025 guidance appears conservative relative to the quarter’s performance; can you clarify what specific market headwinds or operational uncertainties are justifying this cautious outlook and how you intend to bridge that gap?
- Considering the significant investments made in Select RX and its role in driving healthcare services profitability, what targeted improvements in technology and marketing are you planning to implement to enhance customer acquisition efficiency and margin expansion?
- With the new regulatory regime appearing more favorable, what concrete steps are you taking to mitigate risks associated with policy terminations and to leverage these changes for accelerated growth in your Medicare Advantage segment?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company identifies this competitor as one of its primary rivals in the distribution of insurance products through direct-to-consumer online platforms. | |
This competitor is noted as a primary rival in the insurance distribution market, leveraging online platforms to connect consumers with insurance products. | |
Accudose Pharmacy | In the pharmaceutical market, this competitor operates as a closed-door pharmacy, competing with SelectRx's services. |
ExactCare Pharmacy | This competitor is another closed-door pharmacy in the pharmaceutical market, competing with SelectRx's offerings. |
This traditional brick-and-mortar pharmacy primarily sells directly to customers in person, competing with SelectRx's services. | |
This competitor operates as a traditional brick-and-mortar pharmacy, selling directly to customers in person and competing with SelectRx. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
UHC | SLQT sells UHC’s insurance policies for commissions. | All | Revenue Share: 30% (FY 2024) , 33% (FY 2023) , 18% (FY 2022). |
Humana | SLQT sells Humana’s insurance policies for commissions. | All | Revenue Share: 17% (FY 2024) , 20% (FY 2023) , 12% (FY 2022). |
Aetna | SLQT sells Aetna’s insurance policies for commissions. | All | Revenue Share: 16% (FY 2024). |
WellCare | SLQT sells WellCare’s insurance policies for commissions. | All | Revenue Share: 17% (FY 2022). |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Chronic Care Management Platform (SPM) | 2024 | The deal was valued at $4.0 million—with $3.4 million in cash—resulting in $3.3 million of intangible assets (proprietary technology) and $0.3 million of goodwill, and it was executed to launch SelectPatient Management (SPM) to offer scalable, technology-enhanced chronic care services that improve patient engagement and support providers. |
Simple Meds | 2021 | SelectRx acquired Simple Meds for an aggregate purchase price of $7.0 million (adjusted to $7.408 million) to accelerate its prescription drug management operations, integrating assets such as customer relationships and expanding its licensing footprint from 11 to 47 states. |
Express Med Pharmaceuticals (rebranded as SelectRx) | 2021 | The acquisition was structured as up to a $24.0 million deal (comprising $17.5 million in cash, a $2.5 million holdback, and an earnout of up to $4.0 million) aimed at incorporating Express Med’s high-touch, technology-driven model into the Population Health platform, enhancing medication adherence and strategic partnerships while maintaining the existing leadership team. |
Recent press releases and 8-K filings for SLQT.
- $350 million investment secured through the sale of 350,000 shares of Senior Non-Convertible Preferred Stock and issuance of warrants, concluding the Preferred Stock Purchase Agreements.
- The new preferred stock carries a 14.5% annual dividend rate initially, with subsequent adjustments based on liquidity and payment conditions.
- The Board expanded from seven to nine members with the appointment of Srdjan Vukovic and Christopher Wolfe.
- Reported $481.1M revenue (up 19% YoY) and Adjusted EBITDA of approximately $88M (30% YoY growth with an 18% margin)
- Delivered strong Q2 performance with $53.2M net income and robust segment results, including Senior revenue of $255.6M with a near-record 39% Adjusted EBITDA margin
- Revised FY2025 guidance now projects revenue between $1.5B and $1.575B, Adjusted EBITDA between $115M and $140M, and net income improving from a loss of $24M to an income of $11M
- Announced a $350M strategic investment via a preferred equity offering used to repay $260M of term debt, complete a $100M securitization, and reduce annual cash interest by approximately $30M, bolstering liquidity by over $100M
- Achieved enhanced efficiency with a 6% increase in Medicare Advantage policies and a 22% reduction in agent headcount, highlighting improved productivity and cost management