Filing Analysis
SelectQuote, Inc. filed an 8-K to report its financial results for the fourth quarter ended June 30, 2026. The filing includes a press release and an investor presentation as exhibits.
📋 Key Facts
- Reporting period: Fourth quarter ended June 30, 2026.
- Filing date: August 25, 2026.
- Exhibits provided: Press Release (99.1) and Investor Presentation (99.2).
SelectQuote, Inc. reported its financial results for the third fiscal quarter ended March 31, 2026. The filing includes the quarterly press release and an investor presentation as supplemental exhibits.
📋 Key Facts
- Financial results reported for the third quarter ended March 31, 2026
- Filing includes Exhibit 99.1 (Press Release) and Exhibit 99.2 (Investor Presentation)
- Information furnished under Item 2.02 (Results of Operations and Financial Condition)
- Report signed by CFO Ryan M. Clement on May 5, 2026
SelectQuote, Inc. received a notice from the NYSE on March 19, 2026, indicating non-compliance with the minimum $1.00 average closing price requirement over a 30-day period. The company has a six-month cure period to regain compliance and is considering alternatives to address the deficiency.
🚩 Red Flags
- Stock price deficiency (trading below $1.00) indicates significant loss of market value.
- Potential for a reverse stock split if organic price recovery does not occur within the six-month window.
- Risk of delisting if compliance is not achieved by September 2026.
📋 Key Facts
- Notice received from NYSE on March 19, 2026, regarding Section 802.01C of the NYSE Listed Company Manual.
- Average closing price of common stock was less than $1.00 per share over a consecutive 30 trading-day period.
- The company has a six-month cure period from the date of the notice to regain compliance.
- Compliance can be regained if the stock hits $1.00 on the last day of any month and averages $1.00 over the preceding 30 days.
- The company's common stock (SLQT) remains listed on the NYSE during the cure period.
SelectQuote, Inc. filed an 8-K to report its financial results for the second quarter ended December 31, 2025. The filing includes a press release and an investor presentation as exhibits.
📋 Key Facts
- Reporting period: Second quarter ended December 31, 2025.
- Filing date: February 5, 2026.
- Exhibits included: Press Release (99.1) and Investor Presentation (99.2).
- Signed by Ryan M. Clement, Chief Financial Officer.
SelectQuote, Inc. entered into a new $415 million senior secured credit facility consisting of a $325 million term loan and a $90 million revolving credit facility on January 8, 2026. The proceeds were primarily used to refinance existing debt from Ares Capital Corporation.
🚩 Red Flags
- Debt refinancing: The company is replacing existing debt with new senior secured obligations, which may indicate a need for liquidity or restructuring of terms.
- Restrictive Covenants: Agreement includes minimum fixed charge coverage ratio and minimum liquidity requirements that could trigger defaults if financial performance fluctuates.
📋 Key Facts
- Entered into a new Credit Agreement with PLC Agent LLC (Agent) and UMB Bank, N.A. (Lender/Revolver Agent).
- Total facility amount: $415 million ($325M Term Loan + $90M Revolving Credit Facility).
- Used ~$313.8 million of term loan proceeds to repay the previous credit agreement with Ares Capital Corporation.
- Term Loan interest rate: SOFR + 6.50% (with a 3.00% floor) or Base Rate + 5.50%.
- Revolving Credit Facility interest rate: SOFR + 4.00% (with a 3.00% floor) or Base Rate + 3.00%.
- Term Loan includes quarterly amortization of 0.625% until June 30, 2027, increasing to 1.25% thereafter.
- The facility is secured by a security interest in all assets of the Company and its subsidiaries.
SelectQuote, Inc. held its 2025 Annual Meeting of Stockholders on November 11, 2025. The filing reports the results of shareholder votes regarding director elections, auditor ratification, and executive compensation.
📋 Key Facts
- Annual Meeting held on November 11, 2025.
- Total shares outstanding as of record date (Sept 23, 2025): 175,884,846.
- Quorum reached: 114,443,928 shares represented in person or by proxy.
- Proposal 1: Denise L. Devine and Donald L. Hawks III were elected to the Board of Directors (Class III).
- Proposal 2: Ratification of Deloitte & Touche LLP as independent auditor for fiscal year ending June 30, 2026 was approved.
- Proposal 3: Non-binding advisory vote on executive compensation was approved.
SelectQuote, Inc. filed an 8-K to announce its financial results for the first quarter ended September 30, 2025. The filing serves as a formal notice that earnings data and investor presentations have been released.
📋 Key Facts
- Reporting period: First quarter ended September 30, 2025.
- Filing date: November 6, 2025.
- Exhibits included: Press Release (99.1) and Investor Presentation (99.2).
- Signed by Ryan M. Clement, Chief Financial Officer.
SelectQuote, Inc. filed an 8-K/A to correct a clerical error in its Q4 earnings release for the period ended June 30, 2025. The company inadvertently transposed amounts between 'Selling, general and administrative' and 'Technical development' line items.
🚩 Red Flags
- Correction of financial results in an earnings release can sometimes signal internal control weaknesses, though management claims this specific instance is immaterial.
📋 Key Facts
- The filing is an amendment (8-K/A) to correct an error in the original earnings release issued on August 21, 2025.
- The error involved transposed amounts for Selling, general and administrative expenses and Technical development expenses.
- The error occurred within the Consolidated Statements of Comprehensive Income (Loss) for the three-month period ended June 30, 2025.
- Management has characterized the error as 'immaterial'.
SelectQuote, Inc. filed an 8-K to announce its financial results for the fourth quarter and fiscal year ended June 30, 2025. The filing serves as a formal notice that earnings data has been released via press release and investor presentation.
📋 Key Facts
- Reported financial results for the fourth quarter and full year ended June 30, 2025.
- Filing date: August 21, 2025.
- Exhibits include a press release (99.1) and an investor presentation (99.2).
- Signed by Ryan M. Clement, Chief Financial Officer.
SelectQuote, Inc. entered into a Thirteenth Amendment to its existing Credit Agreement on July 25, 2025. The amendment primarily extends the maturity date of the revolving credit facility by 15 months.
🚩 Red Flags
- The need to extend a credit facility maturity from mid-2026 to late 2027 suggests the company is managing its liquidity runway/debt refinancing risk.
📋 Key Facts
- Amendment Date: July 25, 2025
- Extension of revolving facility termination date from June 30, 2026, to September 30, 2027
- Lenders paid an amendment fee of 0.10% of their revolving loan commitments in cash
- Counterparties include Ares Capital Corporation (Administrative Agent) and UMB Bank, N.A. (Revolver Agent)
SelectQuote, Inc. announced the passing of William T. Grant II, Vice Chairman of the Board of Directors and former President of the Company, on July 1, 2025.
📋 Key Facts
- William T. Grant II passed away on July 1, 2025.
- The deceased served as Vice Chairman of the Board of Directors and was a former President of the Company.
- The announcement was made via an 8-K filing dated July 2, 2025.
SelectQuote, Inc. filed an 8-K to announce its financial results for the third quarter ended March 31, 2025. The filing includes a press release and an investor presentation as exhibits.
📋 Key Facts
- Reporting period: Third quarter ended March 31, 2025
- Filing date: May 12, 2025
- Exhibits provided: Press Release (99.1) and Investor Presentation (99.2)
- Signed by Ryan M. Clement, Chief Financial Officer
SelectQuote, Inc. completed a massive $350 million investment from Morgan Stanley and Bain Capital via the issuance of Senior Non-Convertible Preferred Stock and over 30 million warrants. The deal includes highly punitive dividend terms (up to 20% per annum) and significant control rights for investors, including the ability to force a liquidity event if mandatory redemption obligations are not met.
🚩 Red Flags
- Extremely high dividend rate (14.5% - 20%) which creates a massive cash drain for a micro-cap company.
- Significant dilution potential due to the issuance of over 30 million warrants.
- 'Liquidity Period' provisions allow investors to take control of the process to force a sale/liquidation if they cannot redeem their shares in cash.
- The 'Preferred Default' definition is broad, including failure to nominate directors or any event of default under existing credit agreements.
📋 Key Facts
- Total investment amount: $350,000,000 in cash.
- Purchasers: NL Monarch Holdings LLC (Morgan Stanley) and NL Monarch Holdings II LLC (Bain Capital), each investing $175,000,000.
- Security issued: 350,000 shares of Senior Non-Convertible Preferred Stock at a face value of $1,000 per share.
- Warrants issued: 30,833,333 total warrants across three tranches (Tranche A, B, and C) with varying exercise prices.
- Dividend Rate: Initially 14.5% per annum, payable quarterly; can increase up to 20.00% per annum in the event of a 'Preferred Default' or during a 'Liquidity Period'.
- Redemption Rights: Holders have a mandatory redemption right (Put Right) after six years or six months following the Latest Maturity Date of existing credit agreements.
- Control Provisions: Investors gain significant control over corporate actions, including amendments to the Certificate of Incorporation and restrictions on issuing new senior debt/equity.
SelectQuote entered into a $350 million Senior Preferred Stock Purchase Agreement with Morgan Stanley and Bain Capital. The deal includes high-yield preferred stock (14.5% dividend) and significant warrant coverage, alongside board designation rights for the investors.
🚩 Red Flags
- Extremely high dividend rate (14.5% initial, potentially up to 20%) indicating distressed or highly opportunistic financing terms.
- Significant dilution potential via over 30 million warrants issued alongside the preferred stock.
- Investor 'Put Rights' and control provisions that allow investors to force a liquidity transaction if certain conditions are not met.
- Complex dividend step-up triggers linked to company debt/leverage ratios.
📋 Key Facts
- Aggregate investment of $350,000,000 in cash from NL Monarch Holdings LLC (Morgan Stanley) and NL Monarch Holdings II LLC (Bain).
- Issuance of 350,000 shares of Senior Non-Convertible Preferred Stock at a face value of $1,000 per share.
- Issuance of 30,833,333 warrants to purchase common stock across three tranches (Tranche A: $0.01; Tranche B: VWAP/floor $2.15; Tranche C: $5.50).
- Preferred Stock carries a 14.5% per annum dividend rate, which increases in the event of default or liquidity periods.
- Investors receive board designation rights (Class I and II Directors) and observer rights if certain ownership thresholds are met.
- Includes mandatory redemption rights (Put Right) for investors after the 6th anniversary or specific maturity dates.
SelectQuote, Inc. reported the results of its 2024 Annual Meeting of Stockholders held on November 12, 2024. The meeting included votes for director elections, auditor ratification, and a non-binding advisory vote on executive compensation.
📋 Key Facts
- Annual Meeting held on November 12, 2024.
- Total shares outstanding as of record date (Sept 20, 2024): 171,464,822.
- Shares represented at meeting: 107,052,198 (approx. 62.4% quorum).
- Proposal 1: Earl H. 'Trace' Devanny III and Raymond F. Weldon were elected to the Board of Directors (Class II) until 2027.
- Proposal 2: Ratification of Deloitte & Touche LLP as independent auditor for fiscal year ending June 30, 2025 was approved with 104,408,460 votes in favor.
- Proposal 3: Advisory vote on executive compensation (Say-on-Pay) was approved with 68,654,310 votes in favor.
SelectQuote, Inc. filed an 8-K to announce its financial results for the first quarter ended September 30, 2024. The filing serves as a formal notification that earnings data and investor presentations have been released.
📋 Key Facts
- Reported financial results for the first quarter ended September 30, 2024.
- Filing date: November 4, 2024.
- Exhibits include a press release (99.1) and an investor presentation (99.2).
- Signed by Ryan M. Clement, Chief Financial Officer.
SelectQuote, Inc. has entered into a $100 million asset-backed securities facility involving the issuance of two tranches of senior secured notes (Class A and Class B) to existing lenders. The transaction is secured by a portion of the company's commissions receivable and includes significant restrictive covenants.
🚩 Red Flags
- High cost of capital: Interest rates range from 7.80% to 9.65%, plus potential step-ups.
- Restrictive Covenants: Limits the ability to sell assets, create liens, or incur additional indebtedness without noteholder consent.
- Equity Sweep Risk: After September 2028, all available funds are swept to pay down notes, which eliminates distributions to equity holders.
- Asset-Backed Structure: The use of commissions receivable as collateral indicates a reliance on future cash flows for debt servicing.
📋 Key Facts
- Total aggregate purchase price: $100,000,000.
- Tranche 1: $60,000,000 of senior secured 7.80% Class A notes.
- Tranche 2: $40,000,000 of senior secured 9.65% Class B notes.
- Collateral: Secured by a portion of the Company’s commissions receivable at an initial advance rate of 62%.
- Maturity Date: Final legal maturity date is October 20, 2039.
- Amortization: Notes amortize based on target loan-to-value; after September 2028, all available funds are swept to pay down notes, leaving no distributions to equity.
- Interest Step-up: Additional interest of 2.00% p.a. after Sept 2028, increasing to 4.00% p.a. in October 2030.
SelectQuote, Inc. has entered into an Eleventh Amendment to its Credit Agreement and established a new $100 million Asset-Backed Securitization (ABS) Facility. The restructuring includes extending term loan maturities, modifying financial covenants, issuing warrants for 5,568,360 shares of common stock to existing lenders, and issuing $100M in senior secured notes.
🚩 Red Flags
- Significant equity dilution potential via the issuance of over 5.5 million warrants to lenders.
- Modification of financial covenants (asset coverage and liquidity) suggests previous or imminent risk of non-compliance.
- High interest rates on new ABS Notes (up to 9.65%) indicate increased cost of capital.
- Complexity in debt structure involving PIK (Payment-in-Kind) interest components.
📋 Key Facts
- Entered into Eleventh Amendment to Credit Agreement on October 15, 2024.
- Extended scheduled maturity date of existing term loans.
- Modified asset coverage ratio and minimum liquidity covenants.
- Issued warrants for 5,568,360 shares of common stock to existing lenders.
- Established an ABS Facility: $60M Class A Notes (7.80%) and $40M Class B Notes (9.65%).
- Term loans accrue cash/PIK interest at SOFR + 6.0%-6.5% or Base Rate + 5.0%-5.5%, plus 0-3% PIK interest.
- Three subsidiaries (SelectRx KS, LLC, SelectQuote MSO, LLC, and SQ Care Management, LLC) became new guarantors.
SelectQuote, Inc. filed an 8-K to announce its financial results for the fourth quarter and fiscal year ended June 30, 2024. The filing serves as a formal notice that earnings data has been released via press release and investor presentation.
📋 Key Facts
- Reporting period: Fourth quarter and full year ended June 30, 2024.
- Filing date: September 13, 2024.
- Exhibits included: Press Release (99.1) and Investor Presentation (99.2).
- The information in the exhibits is furnished under Item 2.02 and not 'filed' for purposes of Section 18 liability.
SelectQuote, Inc. filed an 8-K to report its financial results for the third quarter ended March 31, 2024. The filing includes a press release and an investor presentation as exhibits.
📋 Key Facts
- Reporting period: Third quarter ended March 31, 2024
- Filing date: May 9, 2024
- Exhibits included: Press Release (99.1) and Investor Presentation (99.2)
SelectQuote, Inc. filed an 8-K to announce its financial results for the second quarter ended December 31, 2023. The filing serves as a formal announcement of earnings and includes accompanying press releases and investor presentations.
📋 Key Facts
- Reported financial results for the second quarter ended December 31, 2023.
- Filing date: February 7, 2024.
- Includes Exhibit 99.1 (Press Release) and Exhibit 99.2 (Investor Presentation).