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10-Q Filing

GOOSEHEAD INSURANCE, INC. CIK: 1726978 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001726978-20-000133
Period End Date 20200331
Filing Date 20200504
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance gshd-20200331_htm.xml
Filing Contents
Balance Sheet 65 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $10.83M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $14.34M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $18.42M USD Point-in-time
Restricted cash RestrictedCashCurrent $923.00K USD Point-in-time
Restricted cash RestrictedCashCurrent $1.12M USD Point-in-time
Commissions and agency fees receivable, net AccountsReceivableNetCurrentCommissionsAndAgencyFeesReceivable $6.88M USD Point-in-time
Commissions and agency fees receivable, net AccountsReceivableNetCurrentCommissionsAndAgencyFeesReceivable $4.66M USD Point-in-time
Receivable from franchisees, net AccountsReceivableNetCurrentFranchiseReceivable $2.86M USD Point-in-time
Receivable from franchisees, net AccountsReceivableNetCurrentFranchiseReceivable $2.60M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $5.75M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $1.99M USD Point-in-time
Total current assets AssetsCurrent $26.73M USD Point-in-time
Total current assets AssetsCurrent $25.22M USD Point-in-time
Receivable from franchisees, net of current portion AccountsReceivableNetNoncurrentFranchiseReceivable $11.48M USD Point-in-time
Receivable from franchisees, net of current portion AccountsReceivableNetNoncurrentFranchiseReceivable $11.01M USD Point-in-time
Property and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $9.54M USD Point-in-time
Property and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $10.00M USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $445.00K USD Point-in-time
Intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $475.00K USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxAssetsNet $26.90M USD Point-in-time
Deferred income taxes, net DeferredIncomeTaxAssetsNet $15.54M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.82M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.36M USD Point-in-time
Total assets Assets $48.40M USD Point-in-time
Total assets Assets $64.63M USD Point-in-time
Total assets Assets $75.89M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $5.03M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $4.51M USD Point-in-time
Premiums payable PremiumsPayableCurrent $1.12M USD Point-in-time
Premiums payable PremiumsPayableCurrent $352.00K USD Point-in-time
Premiums payable PremiumsPayableCurrent $923.00K USD Point-in-time
Deferred rent LesseeOperatingLeaseDeferredRentCurrent $683.00K USD Point-in-time
Deferred rent LesseeOperatingLeaseDeferredRentCurrent $703.00K USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $2.77M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $3.01M USD Point-in-time
Note payable LongTermDebtCurrent $2.00M USD Point-in-time
Note payable LongTermDebtCurrent $4.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $11.34M USD Point-in-time
Total current liabilities LiabilitiesCurrent $13.41M USD Point-in-time
Deferred rent, net of current portion LesseeOperatingLeaseDeferredRentNoncurrent $6.73M USD Point-in-time
Deferred rent, net of current portion LesseeOperatingLeaseDeferredRentNoncurrent $6.68M USD Point-in-time
Note payable, net of current portion LongTermDebtNoncurrent $42.16M USD Point-in-time
Note payable, net of current portion LongTermDebtNoncurrent $44.38M USD Point-in-time
Contract liabilities, net of current portion ContractWithCustomerLiabilityNoncurrent $20.02M USD Point-in-time
Contract liabilities, net of current portion ContractWithCustomerLiabilityNoncurrent $21.08M USD Point-in-time
Liabilities under tax receivable agreement, net of current portion DueToRelatedPartiesNoncurrent $22.34M USD Point-in-time
Liabilities under tax receivable agreement, net of current portion DueToRelatedPartiesNoncurrent $13.36M USD Point-in-time
Total liabilities Liabilities $95.64M USD Point-in-time
Total liabilities Liabilities $105.88M USD Point-in-time
Commitments and contingencies (see note 7) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (see note 7) CommitmentsAndContingencies - USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $15.89M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $14.44M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-23.81M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-23.97M USD Point-in-time
Total stockholders' equity StockholdersEquity $-7.71M USD Point-in-time
Total stockholders' equity StockholdersEquity $-9.01M USD Point-in-time
Non-controlling interests MinorityInterest $-22.27M USD Point-in-time
Non-controlling interests MinorityInterest $-22.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-31.01M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-31.85M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-29.99M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-25.20M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $64.63M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $75.89M USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenues Revenues $23.13M USD 1 Quarter
Revenues Revenues $20.43M USD 1 Quarter
Employee compensation and benefits LaborAndRelatedExpense $13.50M USD 1 Quarter
Employee compensation and benefits LaborAndRelatedExpense $9.19M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $4.43M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $5.87M USD 1 Quarter
Bad debts ProvisionForDoubtfulAccounts $401.00K USD 1 Quarter
Bad debts ProvisionForDoubtfulAccounts $309.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortizationExcludingDebtIssuanceCostAmortization $540.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortizationExcludingDebtIssuanceCostAmortization $423.00K USD 1 Quarter
Total operating expenses OperatingExpenses $20.22M USD 1 Quarter
Total operating expenses OperatingExpenses $14.45M USD 1 Quarter
Income from operations OperatingIncomeLoss $8.69M USD 1 Quarter
Income from operations OperatingIncomeLoss $201.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $66.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense - USD 1 Quarter
Interest expense InterestExpense $626.00K USD 1 Quarter
Interest expense InterestExpense $604.00K USD 1 Quarter
Income (loss) before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-337.00K USD 1 Quarter
Income (loss) before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $8.06M USD 1 Quarter
Tax expense (benefit) IncomeTaxExpenseBenefit $-41.00K USD 1 Quarter
Tax expense (benefit) IncomeTaxExpenseBenefit $744.00K USD 1 Quarter
Net income (loss) ProfitLoss $-296.00K USD 1 Quarter
Net income (loss) ProfitLoss $7.32M USD 1 Quarter
Less: net income (loss) attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $4.85M USD 1 Quarter
Less: net income (loss) attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-140.00K USD 1 Quarter
Net income (loss) attributable to Goosehead Insurance, Inc. NetIncomeLoss $2.47M USD 1 Quarter
Net income (loss) attributable to Goosehead Insurance, Inc. NetIncomeLoss $-156.00K USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.17 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.01 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.01 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.16 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 15.56M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 14.21M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 15.29M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 15.56M shares 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.41 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared - USD 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-296.00K USD 1 Quarter
Net income (loss) ProfitLoss $7.32M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $476.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $747.00K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $401.00K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $309.00K USD 1 Quarter
Equity-based compensation ShareBasedCompensation $368.00K USD 1 Quarter
Equity-based compensation ShareBasedCompensation $498.00K USD 1 Quarter
Impacts of Tax Receivable Agreement IncreaseDecreaseInDueToRelatedParties $5.16M USD 1 Quarter
Impacts of Tax Receivable Agreement IncreaseDecreaseInDueToRelatedParties $9.66M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-9.66M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-5.08M USD 1 Quarter
Dividends held by transfer agent IncreaseDecreaseInDepositOtherAssets $5.96M USD 1 Quarter
Dividends held by transfer agent IncreaseDecreaseInDepositOtherAssets - USD 1 Quarter
Receivable from franchisees IncreaseDecreaseInAccountsReceivableFranchiseReceivable $809.00K USD 1 Quarter
Receivable from franchisees IncreaseDecreaseInAccountsReceivableFranchiseReceivable $565.00K USD 1 Quarter
Commissions and agency fees receivable IncreaseDecreaseInAccountsReceivableCommissionsAndAgencyFeesReceivable $-2.00M USD 1 Quarter
Commissions and agency fees receivable IncreaseDecreaseInAccountsReceivableCommissionsAndAgencyFeesReceivable $553.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $167.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $3.77M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $461.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets - USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-356.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-1.24M USD 1 Quarter
Deferred rent IncreaseDecreaseInDeferredRentCredit $71.00K USD 1 Quarter
Deferred rent IncreaseDecreaseInDeferredRentCredit $985.00K USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $1.29M USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability - USD 1 Quarter
Premiums payable IncreaseDecreaseInPremiumsPayable $196.00K USD 1 Quarter
Premiums payable IncreaseDecreaseInPremiumsPayable $-24.00K USD 1 Quarter
Unearned revenue IncreaseDecreaseInUnearnedRevenue $-199.00K USD 1 Quarter
Unearned revenue IncreaseDecreaseInUnearnedRevenue - USD 1 Quarter
Payments pursuant to the tax receivable agreement IncreaseDecreaseInTaxReceivableAgreementPayment - USD 1 Quarter
Payments pursuant to the tax receivable agreement IncreaseDecreaseInTaxReceivableAgreementPayment $9.00K USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $1.80M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $-1.48M USD 1 Quarter
Proceeds from notes receivable ProceedsFromSaleAndCollectionOfNotesReceivable $5.00K USD 1 Quarter
Proceeds from notes receivable ProceedsFromSaleAndCollectionOfNotesReceivable $9.00K USD 1 Quarter
Purchase of software PaymentsForSoftware $60.00K USD 1 Quarter
Purchase of software PaymentsForSoftware $55.00K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $967.00K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.25M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-1.02M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-1.30M USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $530.00K USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Repayment of note payable RepaymentsOfSecuredDebt $26.32M USD 1 Quarter
Repayment of note payable RepaymentsOfSecuredDebt $500.00K USD 1 Quarter
Proceeds from notes payable ProceedsFromIssuanceOfSecuredDebt - USD 1 Quarter
Proceeds from notes payable ProceedsFromIssuanceOfSecuredDebt $26.92M USD 1 Quarter
Proceeds from the issuance of Class A common stock ProceedsFromIssuanceInitialPublicOffering $116.00K USD 1 Quarter
Proceeds from the issuance of Class A common stock ProceedsFromIssuanceInitialPublicOffering - USD 1 Quarter
Member distributions and dividends PaymentsOfDividends $1.00M USD 1 Quarter
Member distributions and dividends PaymentsOfDividends $245.00K USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-745.00K USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-817.00K USD 1 Quarter
Net decrease in cash and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-242.00K USD 1 Quarter
Net decrease in cash and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-3.31M USD 1 Quarter
Cash and cash equivalents, and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $19.01M USD Point-in-time
Cash and cash equivalents, and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $11.95M USD Point-in-time
Cash and cash equivalents, and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.26M USD Point-in-time
Cash and cash equivalents, and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $18.77M USD Point-in-time
Cash and cash equivalents, and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $19.01M USD Point-in-time
Cash and cash equivalents, and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $11.95M USD Point-in-time
Cash and cash equivalents, and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.26M USD Point-in-time
Cash and cash equivalents, and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $18.77M USD Point-in-time
Cash paid during the year for interest InterestPaidNet $326.00K USD 1 Quarter
Cash paid during the year for interest InterestPaidNet $626.00K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid - USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid - USD 1 Quarter
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-31.01M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-31.85M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-29.99M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-25.20M USD Point-in-time
Distributions MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $1.00M USD 1 Quarter
Distributions MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $245.00K USD 1 Quarter
Net income (loss) ProfitLoss $-296.00K USD 1 Quarter
Net income (loss) ProfitLoss $7.32M USD 1 Quarter
Dividends declared DividendsCommonStockCash $15.00M USD 1 Quarter
Equity-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $368.00K USD 1 Quarter
Equity-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $498.00K USD 1 Quarter
Activity under employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $116.00K USD 1 Quarter
Redemption of LLC Units StockRedeemedOrCalledDuringPeriodValue - USD 1 Quarter
Redemption of LLC Units StockRedeemedOrCalledDuringPeriodValue - USD 1 Quarter
Redemption of LLC Units (in shares) StockRedeemedOrCalledDuringPeriodShares 791,000.00 shares 1 Quarter
Deferred tax adjustments related to Tax Receivable Agreement AdjustmentsToAdditionalPaidInCapitalTaxReceivableAgreement $1.70M USD 1 Quarter
Deferred tax adjustments related to Tax Receivable Agreement AdjustmentsToAdditionalPaidInCapitalTaxReceivableAgreement $911.00K USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-31.01M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-31.85M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-29.99M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-25.20M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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