Short answer
SelectQuote, Inc. (SLQT) filed its fiscal 2026 10-K annual report with the SEC on Aug 25, 2026. It reported revenue of $1.6B (+6.0% year over year) and net income of $62M.
- Top risk flagged: DOJ False Claims Act complaint filed May 2025 alleging violations in Medicare marketing could materially harm operations and financial condition
FY2026 key financial metrics · XBRL
- Revenue
- $1.6B
- +6.0% YoY
- Net income
- $62M
- +30.7% YoY
- Operating margin
- 4.6%
- +0.1 pp YoY
- EPS (diluted)
- −$0.06
- −700.0% YoY
- ROE
- 17.7%
- +4.1 pp YoY
- Operating cash flow
- $32M
- +373.3% YoY
Source: XBRL data from the SelectQuote, Inc. (SLQT) FY2026 10-K on SEC EDGAR. USD.
SelectQuote, Inc. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Technology-enabled direct-to-consumer platform distributing insurance policies and expanding healthcare services for seniors
- New emphasis on Healthcare Services segment including SelectRx pharmacy, Healthcare Select engagement, and SelectPatient Management chronic care launched in 2024
- Strategic shift away from Auto & Home insurance focus toward higher-growth healthcare and senior insurance segments leveraging AI technology
- Employee base as of June 30, 2026: 1,098 agents and 2,941 non-agent full-time equivalents; hired approx. 814 seasonal employees for 2025 AEP
- Opened new SelectRx fulfillment facility in April 2025, expanding prescription capacity enabling service to over 200,000 members with room to grow
Management Discussion & Analysis
- Revenue $1.62B, up 6% YoY from $1.53B in FY2025; commissions and other services down 1% to $788M, pharmacy up 14% to $831M
- Operating income $73.9M, net income $62.2M vs $48.5M income and $47.6M net income FY2025; effective tax rate 18.5% vs 1.9%
- Best segment Healthcare Services revenue $845M (+14%), adjusted EBITDA $25.5M (+0.1M); worst Senior revenue $576M (-4%), adjusted EBITDA $148M (-$13.6M)
- Net cash from operations $31.9M vs $(11.7)M; capex $16.1M; financing outflows $31.1M mainly debt repayments; cash $21.7M vs $37.1M
- Management outlook implies focus on AI investments for agent productivity, healthcare services growth, and maintaining debt covenant compliance; risk from policy retention and Inflation Reduction Act impact on pharmacy margins
Risk Factors
- DOJ False Claims Act complaint filed May 2025 alleging violations in Medicare marketing could materially harm operations and financial condition
- Geographic concentration risk with 39%, 13%, 12% of 2026 revenue from UHC, Humana, Aetna exposing dependency on few insurers
- Supply chain disruption risk for pharmacy business due to delays in prescription acquisition and manufacture, impacting service and growth
- Competitive pressure risks from insurance carriers’ direct sales channels and platforms like government-run health insurance exchanges
- NYSE delisting risk due to stock price under $1.00, with planned reverse stock split to regain compliance by April 2027 deadline
Generated from the filing text; verify against the original. How to read a 10-K
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