SelectQuote, Inc. (NYSE: SLQT), a leading distributor of Medicare insurance policies and healthcare services provider, saw its stock price surge 31.96% in after-hours trading on Monday, February 10th, 2025.
The significant rally was driven by the company's impressive second-quarter fiscal year 2025 results and the announcement of a $350 million strategic investment from funds managed by Bain Capital, Morgan Stanley Private Credit, and Newlight Partners.
In the fiscal second quarter, SelectQuote reported revenue of $481.1 million, a remarkable 18.65% increase year-over-year, beating analyst consensus estimates of $447 million. The company's net income also surged to $53.2 million, compared to $19.4 million in the same period last year. Additionally, SelectQuote's Adjusted EBITDA rose to $87.5 million, a significant 30% year-over-year increase, driven by strong performance in both its Senior and Healthcare Services segments.
The strategic investment from renowned firms like Bain Capital, Morgan Stanley Private Credit, and Newlight Partners is expected to provide SelectQuote with the necessary financing to accelerate its growth initiatives and capitalize on the robust opportunities in the senior health insurance and healthcare services markets. The investment will also allow the company to recapitalize its balance sheet, lower its annual cash debt service, and increase operating flexibility.
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