Goosehead Insurance, Inc. (GSHD) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16
	8-K	10-K	10-K	10-K	10-K	10-K	S-1/A
Revenues:
Corporate Channel		75.3	61.1	42.8	34.3	25.5
Franchise Channel		76.0	56.0	34.7	25.9	17.2
Initial Franchise Fees		6.5	4.2	3.8	6.0
Total revenues [+]	209.4	151.3	117.0	77.5	60.1	42.7	31.5
Franchise	107.7						10.1
Net interest income	1.4
Revenue growth [+]	38.4%	29.3%	51.0%	28.8%	40.8%	35.7%
Corporate Channel		23.3%	42.5%	24.9%	34.3%
Franchise Channel		35.9%	61.5%	34.0%	50.4%
Initial Franchise Fees		53.8%	11.9%	-37.4%
Cost of goods sold	133.3	93.0	66.8	41.7	58.3	24.5	19.5
Gross profit	76.1	58.3	50.2	35.8	1.9	18.2	12.0
Gross margin	36.3%	38.5%	42.9%	46.2%	3.1%	42.5%	38.2%
Selling, general and administrative [+]	52.9	41.7	25.5	19.0	13.1	8.6	5.7
General and administrative	52.9	41.7	25.5	19.0	13.1	8.6	5.7
Other operating expenses	13.1	3.0	1.6	0.7	1.3	1.1	0.7
Adjusted EBITDA		21.1	28.3	17.7	15.6		8.1
Adjusted EBITDA margin		13.9%	24.1%	22.9%	25.9%		25.8%
Stock-based compensation		7.3	4.7	1.5	27.0
EBITDA [+]		13.8	23.5	16.2	-11.4	8.5	5.6
EBITDA growth	-26.6%	-41.3%	45.0%	-242.2%	-234.4%	50.9%
EBITDA margin	4.8%	9.1%	20.1%	20.9%	-19.0%	19.9%	17.9%
Depreciation		4.7	3.3	1.9	2.4	0.8	0.5
EBITA	10.1	9.1	20.2	14.3	-13.8	7.7	5.1
EBITA margin	4.8%	6.0%	17.3%	18.4%	-23.0%	18.0%	16.3%
Amortization of intangibles		0.4	0.3	0.2	0.1	0.1
EBIT [+]	10.1	8.7	19.9	14.1	-13.9	7.6	5.1
EBIT growth	16.8%	-56.5%	41.7%	-201.0%	-283.0%	48.2%
EBIT margin	4.8%	5.7%	17.0%	18.2%	-23.2%	17.8%	16.3%
Interest expense, net [+]	5.0	1.7	1.5	1.8	3.8	2.5
Interest expense	5.0	2.9	2.3	2.4	4.3	2.5
Interest income		1.2	0.8	0.6	0.4
Other income (expense), net [+]		-1.0	-0.7	-0.6	-0.4	3.5	-0.4
Other		0.2	0.1		0.0	3.5
Pre-tax income	5.1	6.0	17.7	11.7	-18.2	8.7	4.7
Income taxes	2.5	-2.3	-1.0	1.3	0.4	0.0	0.0
Tax rate	48.7%			11.2%		0.0%	0.0%
Minority interest		2.9	9.5	6.8	-9.8	8.7
Net income	0.6	5.4	9.3	3.6	-8.9	0.0	4.7
Net margin	0.3%	3.6%	7.9%	4.6%	-14.8%	0.0%	15.0%

Basic EPS [+]	$0.03	$0.28	$0.55	$0.24	($0.66)
Growth	-90.4%	-49.1%	130.6%	-136.5%
Diluted EPS [+]	$0.03	$0.26	$0.51	$0.22	($0.66)
Growth	-90.0%	-48.6%	128.0%	-133.7%

Dividends per share [+]		$3.13	$2.66	$1.26	$5.91
Growth	-100.0%	17.5%	111.2%	-78.7%

Shares outstanding (basic) [+]	21.0	19.2	16.8	14.9	13.6
Growth	9.5%	14.3%	12.9%	9.7%
Shares outstanding (diluted) [+]	21.8	20.8	18.4	16.1	13.6
Growth	4.6%	13.2%	14.2%	18.8%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.