-->

KC-based SelectQuote reports near-record revenue growth

Quarterly results from insurance sales agency SelectQuote Inc. show the company made a 103 percent year-over-year increase in revenue in its second quarter ending Dec. 31. The company reported a net income of $90.4 million, an increase of $51.3 million from the year prior.

SelectQuote Inc. is expected to continue upward growth after reporting its quarterly results after the market closed Monday.

The Overland Park-based insurance sales agency reported a 103 percent year-over-year increase in revenue for its fiscal second quarter, which ended Dec. 31.

It also reported net income of $90.4 million, an increase of $51.3 million compared to the year-ago period.

During after-hours trading Monday, the company’s stock jumped to $27.95, which is 14.74 percent higher than its closing price of $24.36. The company’s all-time high is $29, which occurred in early June.

“We continue to show our differentiated model delivers superior financial results driven by a 32% increase in average agent productivity despite adding 70% more agents,” CEO Tim Danker said in a Monday release. “We continue to excel in a fast-growing industry, and we’re pleased that our results continue to validate our strategy.”

SelectQuote, which was founded in 1985, helps consumers compare and select insurance plans from a variety of insurers. The company’s Senior Division accounts for about 57% of the company’s sales and 73% of its earnings. The Senior Division generates about 70% of its new policy sales in the six-month period running during the Medicare Annual Enrollment Period (Oct. 15-Dec. 7) and the Open Enrollment Period.