SelectQuote Inc (NYSE: SLQT) stock surged over 11.42% on 10th September, 2020 and slightly cooled off in September 11th, 2020 session, falling over 1.6% on 11th September, 2020 (As of 10:35 am GMT-4; Source: Google finance).
Consolidated net income for fourth quarter 2020 rose 56% to $20.0 million compared to consolidated net income for fourth quarter 2019 of $12.9 million. Finally, consolidated Adjusted EBITDA for fourth quarter 2020 increased 106% to $40.1 million compared to consolidated Adjusted EBITDA for fourth quarter 2019 of $19.5 million. The company had a successful initial public offering this past May. The power of the leading technology-enabled direct-to-consumer model paired with the 100% in-house agent-led customer service approach positions SelectQuote well to take advantage of demographic tailwinds and a large market opportunity for years to come.
Moreover, consolidated revenue for the fiscal year ended June 30, 2020, was $531.5 million, which represents an increase of $194.0 million over consolidated revenue for the fiscal year ended June 30, 2019, of $337.5 million. Consolidated net income for the 2020 fiscal year was $81.1 million, which represents an increase of $8.5 million over consolidated net income for the 2019 fiscal year of $72.6 million. Finally, consolidated Adjusted EBITDA for the 2020 fiscal year was $154.0 million compared to consolidated Adjusted EBITDA of $105.3 million for the fiscal year 2019, which represents an increase of $48.7 million.
SLQT in the fourth quarter of FY 20 has reported the adjusted earnings per share of 13 cents, beating the analysts’ estimates for the adjusted earnings per share of 3 cents. The company had reported the adjusted revenue growth of 90 percent to $141.5 million in the fourth quarter of FY 20, beating the analysts’ estimates for revenue of $119.65 million. For the fourth quarter, the revenue from Senior division grew 160% and adjusted EBITDA expanded 157%. For the fourth quarter, the revenue from Life division grew 37% and adjusted EBITDA expanded 35%. Core Premiums declined 6% whereas ancillary premiums rose by whopping 288%. For the fourth quarter, the revenue from Auto & Home division grew 24% and adjusted EBITDA expanded 36%. The adjusted EBITDA margin declined to 26% during the fourth quarter compared to 23% in the corresponding period last year.
For full-year 2021, the company expects an initial range of $775 million to $815 million for consolidated revenue and $200 million to $215 million for consolidated Adjusted EBITDA. The company projects the full-year consolidated net income to be in the range of $115 million to $127 million for 2021.