Filing Flows › Hagerty (HGTY) › Q3 2026 › vs Q2 2026
Hagerty (HGTY) Q3 2026 vs Q2 2026 (quarter over quarter)
Hagerty's revenue fell $580K (-0.2%) from $355M in Q2 2026 to $354M in Q3 2026. The biggest changes: Marketplace −$7.3M (-18%); Insurance +$6.8M (+2%). Operating margin 11.7% against 0.6% (+11.1 pts).
Hagerty, Q3 2026: revenue $354M (-10% year over year), operating margin 11.7%, net earnings $10.2M, operating cash flow $94.0M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 11.7% | 0.6% | +11.1 pts |
| Net margin | 2.9% | 0.1% | +2.8 pts |
| Free cash flow margin | 24.4% | 45.6% | -21.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Insurance | $322M | $315M | $6.8M | +2% |
| Marketplace | $32.6M | $39.9M | −$7.3M | -18% |
| Revenue | $354M | $355M | −$580K | -0.2% |
| Operating profit | $41.4M | $2.2M | $39.2M | 19× |
| Costs & expenses | $313M | $353M | −$39.7M | -11% |
| Pre-tax earnings | $41.4M | $2.2M | $39.2M | 19× |
| SG&A | $92.8M | $95.3M | −$2.5M | -3% |
| Other operating costs | $220M | $257M | −$37.2M | -14% |
| Net earnings | $10.2M | $280K | $9.9M | 36× |
| Minority interests | $26.1M | $7.8M | $18.3M | +236% |
| Income tax | $5.1M | −$5.8M | $10.9M | — |
| Depreciation & amortization | $9.8M | $9.7M | $75K | +0.8% |
| Share-based compensation | $5.2M | $5.1M | $123K | +2% |
| Working capital & other | $68.8M | $155M | −$86.0M | -56% |
| Operating cash flow | $94.0M | $170M | −$75.9M | -45% |
| Free cash flow (OCF − capex) | $86.4M | $162M | −$75.3M | -47% |
| Capital expenditures | $7.6M | $8.2M | −$632K | -8% |
Questions
How much did Hagerty's revenue grow quarter over quarter in Q3 2026?
Hagerty's revenue fell $580K (-0.2%) from $355M in Q2 2026 to $354M in Q3 2026.
What drove Hagerty's revenue change in Q3 2026?
Marketplace −$7.3M (-18%); Insurance +$6.8M (+2%).