SelectQuote, Inc. (SLQT) is the solution provider to support customers in protecting their families, health, and property. The company is focused on providing unbiased comparisons from insurance firms by letting the customers to select the policy that best meets their requirements. The company has highly-skilled agents and exclusive technology for consumer attraction. SLQT is engaged in Senior, Life Auto, and Home businesses.
The price of SLQT stock during the regular trading on February 7, 2022, was $6.53 with a decline of 1.36%. At last check in the aftermarket, the stock further dipped by 41.8%.
SLQT: Key Financials
On February 7, 2022, SLQT released its financial results for the second quarter of the fiscal year 2022 ended December 31, 2021. Some of the key updates are as follows.
Revenue
Total revenue recorded in Q2 2022 was $194.9 million compared to $357.5 million in the same quarter of 2021. The company observed a decrease of $162.5 million in revenue over the period of the year. The analysts estimated the revenue target for the company to be $456.6 million and the company missed the estimated revenue target by $261.6 million.
EPS
Basic and diluted net loss per share in Q2 2022 was $137 million or $0.84 compared to net income of $89.8 million or $0.54 in the same quarter of 2021. The estimated EPS target for the company was $0.59 and the company missed the analyst’s estimate.
Assets
Total current assets of the company in Q2 2022 were recorded to be $555.5 million.
SLQT: CEO Comments
Speaking at the occasion, CEO of SLQT Tim Danker stated that the company is focusing on the reduction of earnings volatility and downside risk vis resetting its growth and operating leverage viewpoint. He further added that in the coming days, growth will be more centered on predictability and cash flow as the company can deliver value to its stockholders despite a hard year.
Conclusion
SLQT stock is 63% down the past half-year as the company down-performed due to pandemic limitations. The company’s stock dip in the aftermarket is the result of its quarterly report release. The report reviewed that the company didn’t meet the estimated revenue and EPS targets.
