SelectQuote Reports Mixed Q4 2026 Results Amid Medicare Advantage Turbulence
Event summary
- SelectQuote reported Q4 2026 revenue of $321.7M, down 6.8% YoY from $345.1M in Q4 2025.
- Net loss for Q4 2026 was $16.8M, compared to a net income of $12.9M in Q4 2025.
- Full-year 2026 revenue reached $1.6B, up from $1.5B in 2025, with net income of $62.2M.
- Senior Medicare Advantage business maintained a 26% Adjusted EBITDA margin for the fourth consecutive year.
- Healthcare Services segment achieved run-rate Adjusted EBITDA of nearly $50M by the end of fiscal 2026.
The big picture
SelectQuote's mixed Q4 2026 results reflect the ongoing turbulence in the Medicare Advantage market, where insurance carriers continue to adjust policy benefits and optimize volumes. Despite this, the company's Senior business maintained strong profitability margins, while its Healthcare Services segment showed promising growth in profitability and cash flow. The strategic focus on scaling Healthcare Services and improving operational efficiency positions SelectQuote to deliver shareholder value through growth in profitability and cash flow.
What we're watching
- Cash Flow Growth
- Whether SelectQuote can sustain the $44M improvement in operating cash flow into fiscal 2027.
- Medicare Advantage Volatility
- How carrier profitability improvements will impact SelectQuote's Senior business.
- Operational Efficiency
- The pace at which technology-enabled workstream efficiencies will drive annual expense savings.
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