Earnings

SelectQuote Restates Fiscal 2027 Targets After Loss

The Tip Desk · November 11, 2026 · 3 min read

First-quarter revenue was $280.0 million as Adjusted EBITDA swung to a $17.0 million loss from an $11.9 million profit.

SelectQuote, Inc. (SLQT), the Overland Park, Kansas insurance and pharmacy company, reported first-quarter fiscal 2027 revenue of $280.0 million, down from $328.8 million a year earlier, and a $20.3 million net loss, narrower than the $30.5 million loss a year earlier.

Consolidated Adjusted EBITDA was a $17.0 million loss, compared with a $32.1 million loss a year earlier. Cash used in operations declined to $17.2 million from $21.6 million.

The quarter was the company’s seasonally slowest, Chief Executive Officer Tim Danker said, and marked a sequential swing from the $11.9 million Adjusted EBITDA profit in the fourth quarter of fiscal 2026. Revenue in that prior quarter was $321.7 million.

Senior, the Medicare-focused distribution unit, posted revenue of $50.8 million, down 14% from $59.0 million a year earlier. Adjusted EBITDA was a $12.3 million loss, 42% narrower than the $21.0 million loss a year earlier, and the margin improved to (24)% from (36)%. Medicare Advantage approved policies fell 18% to 50,976 from 62,510; total approved policies fell 22% to 59,410. Lifetime value of commissions per Medicare Advantage approved policy rose 16% to $890 from $769.

Healthcare Services revenue declined 16% to $186.3 million from $221.4 million a year earlier. Adjusted EBITDA rose 56% to $11.2 million from $7.2 million, and the margin expanded to 6% from 3%. SelectRx membership stood at 99,753 as of September 30, 2026, down 7% from 106,914 a year earlier. The company said the decline was primarily due to refined customer qualification focused on long-term profitability and operational efficiency. Profitability per member rose 60% to $107.6 from $67.1. Average prescriptions shipped per day fell to 28,139 from 31,378.

Life revenue declined 8% to $42.8 million from $46.6 million a year earlier. Adjusted EBITDA rose 31% to $7.3 million from $5.6 million, with the margin expanding to 17% from 12%. Total premium volume fell 21% to $38.5 million from $48.9 million, with final-expense premiums down 32% to $20.1 million from $29.4 million.

Danker said SelectQuote drove a 30% improvement in year-over-year trailing twelve-month Adjusted EBITDA and remained on track to drive more than $60 million in operating cash flow in fiscal 2027, citing lower Senior agent headcount and continued Healthcare Services scaling despite a revenue headwind from the Inflation Reduction Act.

The company reiterated fiscal 2027 guidance of revenue in a range of $1.35 billion to $1.45 billion, Adjusted EBITDA of $90 million to $115 million, and operating cash flow of more than $60 million.

Cash, cash equivalents, and restricted cash were $13.4 million at September 30, 2026, compared with $20.7 million at June 30, 2026. Net loss attributable to common shareholders was $40.5 million, or $0.21 a share, versus $47.9 million, or $0.26 a share, a year earlier.

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