Filing Flows › Hagerty (HGTY) › Q1 2026
Hagerty (HGTY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Hagerty (HGTY) reported revenue of $312M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -13% from the quarter before. Operating margin was -6.7%, net loss $12.7M (4.1% of revenue).
Hagerty, Q1 2026: revenue $312M (-5% year over year), operating margin -6.7%, net loss $12.7M, operating cash flow $16.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $312M | -13% | -5% |
| Operating profit | −$20.9M | -153% | -181% |
| Net earnings | −$12.7M | -244% | -252% |
| Operating cash flow | $16.3M | -44% | -63% |
| Free cash flow | $8.5M | -63% | -78% |
What changed
Revenue was $311.8M in Q1 2026, down 5% year over year and down 13% from the previous quarter. Insurance was the largest line at 92% of revenue. Insurance lost $13.1M year over year (down 4%), 80% of the total change.
Operating costs exceeded revenue by $20.9M, an operating margin of -6.7%. Total costs grew 10% against a revenue fall of 5%. The fastest-growing cost line was Other operating costs (+64%). The quarter ended with a net loss of $12.7M, after a profit of $28.6M the previous quarter. Minority interests bore $8.3M of it: to shareholders the quarter was a loss of $4.5M.
Operating cash flow was $16.3M (down 63% year over year). Non-cash charges added back $9.7M of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items added $14.7M. Capital expenditures of $7.7M left free cash flow of $8.5M.
Questions
What was Hagerty's revenue in the first quarter 2026?
Hagerty (HGTY) reported revenue of $312M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -13% from the quarter before.
Was Hagerty profitable in the first quarter 2026?
Operating loss was $20.9M (-6.7% of revenue) and net loss $12.7M.
Source: Hagerty 10-Q on SEC EDGAR.