Filing Flows › Goosehead Insurance (GSHD) › How it makes money
How Goosehead Insurance (GSHD) makes money
Goosehead Insurance (GSHD) made $113M of revenue in the second quarter 2026 (Q2 2026), +21% from a year earlier. Franchise revenues brought in $64.1M (56%); Commissions and agency fees brought in $49.3M (44%). Of every dollar of revenue, 23¢ was left as operating profit, 9¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Franchise revenues | $64.1M | 56.5% | — | +15% |
| ↳ Renewal Royalty Fees | $52.5M | 46.3% | — | +16% |
| ↳ New Business Commissions | $9.6M | 8.5% | — | +27% |
| ↳ Initial Franchise Fees | $1.4M | 1.2% | — | +9% |
| ↳ Other Franchise Revenues | $576K | 0.5% | — | -56% |
| Commissions and agency fees | $49.3M | 43.5% | — | +28% |
| ↳ Renewal Commissions | $21.0M | 18.6% | — | -9% |
| ↳ Contingent Commissions | $15.7M | 13.9% | — | +250% |
| ↳ New Business Royalty Fees | $9.4M | 8.3% | — | +20% |
| ↳ Agency Fees | $3.1M | 2.7% | — | +6% |
| ↳ Interest Income | $95K | 0.1% | — | -47% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $113M | 100.0% |
| Operating profit | $26.6M | 23.5% |
| Income tax | $4.1M | 3.6% |
| Net earnings | $10.1M | 8.9% |
| Operating cash flow | $15.9M | 14.0% |
| Free cash flow | $14.4M | 12.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $113M | +21% |
| Q1 2026 | $93.1M | +23% |
| Q4 2025 | $105M | +12% |
| Q3 2025 | $90.4M | +16% |
| Q2 2025 | $94.0M | +20% |
| Q1 2025 | $75.6M | +17% |
| Q4 2024 | $93.9M | +49% |
From Goosehead Insurance's 10-Q filed Jul 23, 2026 (on EDGAR).
Questions
How does Goosehead Insurance make money?
Goosehead Insurance (GSHD) made $113M of revenue in the second quarter 2026 (Q2 2026), +21% from a year earlier. Franchise revenues brought in $64.1M (56%); Commissions and agency fees brought in $49.3M (44%). Of every dollar of revenue, 23¢ was left as operating profit, 9¢ was left as net earnings.
What is Goosehead Insurance's biggest business?
Franchise revenues: $64.1M in the second quarter 2026, 56% of revenue, +15% from a year earlier.
What is Goosehead Insurance's profit margin?
Net earnings were $10.1M, 8.9% of revenue, in the second quarter 2026; the operating margin was 23.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.