GSHD on Nasdaq

Goosehead Insurance, Inc.

Goosehead Insurance, Inc. is a rapidly growing independent insurance agency.2 It is headquartered in Austin, United States.2 Its shares trade on Nasdaq under the symbol GSHD.2

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Last updated Oct 20, 2026.

Overview

$365.3MRevenue, fiscal 20253
$27.8MNet income, fiscal 20253

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  • TickerGSHD on Nasdaq2
  • IndustryInsurance Agents, Brokers & Service2
  • HeadquartersAustin, United States2
  • Incorporated inDE4
  • Business address1500 Solana Blvd, Building 4, Suite 4500, Westlake, Tx 762624
  • Filer categoryLarge accelerated filer4
  • Legal formCorporation2
  • LEI549300WH5MBIWHJ9XY952
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o CORPORATION SERVICE COMPANY, 251 LITTLE FALLS DRIVE, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 66131532

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We are a rapidly growing independent insurance agency, reinventing the traditional approach to distributing personal lines policies throughout the United States. Our differentiated business model and innovative technology platform have enabled us to deliver insurance customers a superior experience, as evidenced by our 77 Net Promoter Score, which is 3.5x the 2024 Industry Average according to Qualtrics XM Institute. To fully appreciate the value of our model, there are three lenses with which you can view us – from the perspective of 1) the insurance buyer; 2) the agent; and 3) the carrier.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

20.4%Operating margin3
7.6%Net margin3
$86.1MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Renewal Royalty Fees brought in 46% of the revenue Goosehead Insurance, Inc. broke down this way in fiscal 2025.

  1. Renewal Royalty Fees$170.8M346%up 23% from 2024
  2. Renewal Commissions$78.6M321%up 5% from 2024
  3. Contingent Commissions$38.4M310%up 22% from 2024
  4. New Business Royalty Fees$30.2M38%up 11% from 2024
  5. New Business Commissions$28.0M38%up 14% from 2024
  6. Agency Fees$10.4M33%up 28% from 2024
  7. Initial Franchise Fees$5.6M32%down 15% from 2024
  8. Commissions And Agency Fees$3.0M31%down 98% from 2024
  9. Other Franchise Revenues$2.7M31%up 49% from 2024
  10. Franchise$1.0M30%down 99% from 2024
  11. Interest Income1$670.0K30%down 28% from 2024
Products and services by year
Products and services202320242025
Renewal Royalty Fees$107.5M$138.9M$170.8M
Renewal Commissions$70.7M$74.9M$78.6M
Contingent Commissions$13.7M$31.4M$38.4M
New Business Royalty Fees$23.2M$27.1M$30.2M
New Business Commissions$23.4M$24.6M$28.0M
Agency Fees$8.2M$8.1M$10.4M
Initial Franchise Fees$11.2M$6.6M$5.6M
Commissions And Agency Fees$116.1M$139.1M$3.0M
Other Franchise Revenues$1.8M$1.8M$2.7M
Franchise$143.8M$174.5M$1.0M
Interest Income1$1.4M$932.0K$670.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs91¢$331.1M
  • Income tax2¢$6.4M
  • Profit8¢$27.8M

Out of $365.3M in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending2¢$5.7M
  • Dividends paid63¢$145.8M
  • Share buybacks35¢$81.7M

Out of $91.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue6789103$365.3M in 2025+507% since 2018
0$100.0M$200.0M$300.0M$400.0M2018: $60.1M$60.1M20182019: $77.5M$77.5M2019+29%2020: $117.0M$117.0M2020+51%2021: $151.3M$151.3M2021+29%2022: $209.4M$209.4M2022+38%2023: $0$020232024: $0$020242025: $365.3M$365.3M2025
Operating income6789103$74.4M in 2025
-$25.0M0$25.0M$50.0M$75.0M2018: -$13.9M-$13.9M20182019: $14.1M$14.1M20192020: $19.9M$19.9M2020+42%2021: $8.7M$8.7M2021−57%2022: $10.1M$10.1M2022+17%2023: $33.0M$33.0M2023+225%2024: $61.1M$61.1M2024+86%2025: $74.4M$74.4M2025+22%
Net income6789103$27.8M in 2025
-$10.0M0$10.0M$20.0M$30.0M$40.0M2018: -$8.9M-$8.9M20182019: $3.6M$3.6M20192020: $9.3M$9.3M2020+160%2021: $5.4M$5.4M2021−42%2022: $565.0K$565.0K2022−90%2023: $14.1M$14.1M2023+2403%2024: $30.4M$30.4M2024+115%2025: $27.8M$27.8M2025−9%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Revenues$365.3M$314.5M$261.3M
Employee compensation and benefits$196.4M$172.9M$152.6M
General and administrative expenses$81.4M$67.1M$62.1M
Bad debts$1.8M$2.9M$4.4M
Depreciation and amortization$11.3M$10.5M$9.2M
Total operating expenses$290.9M$253.4M$228.3M
Income from operations$74.4M$61.1M$33.0M
Interest expense-$23.8M-$7.3M-$6.6M
Other income (expense)$192.0K-$7.1M$0
Income before taxes$50.8M$46.7M$26.4M
Tax expense (benefit)$6.4M-$2.4M$2.7M
Net Income$44.5M$49.1M$23.7M
Less: net income attributable to noncontrolling interests$16.6M$18.7M$9.6M
Net Income attributable to Goosehead Insurance, Inc.$27.8M$30.4M$14.1M
Basic (in dollars per share)$1.11$1.23$0.59
Diluted (in dollars per share)$1.04$1.16$0.55
Basic (in shares)25.0M shares24.7M shares23.9M shares
Diluted (in shares)38.1M shares38.3M shares38.4M shares

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Corporate structure

Goosehead Insurance, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Goosehead Insurance, Inc.

  • WASATCH ADVISORS LP Filed SCHEDULE 13G/A on Goosehead Insurance, Inc., latest Oct 7, 2026 (11 filings since Feb 11, 2022)
  • Mark Evan Jones Filed SCHEDULE 13D/A on Goosehead Insurance, Inc., latest Aug 24, 2026 (14 filings since Oct 19, 2021)
  • T. Rowe Price Investment Management, Inc. Filed SCHEDULE 13G/A on Goosehead Insurance, Inc., latest Aug 14, 2026 (7 filings since Nov 14, 2024)
  • KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC Filed SCHEDULE 13G/A on Goosehead Insurance, Inc., latest Aug 13, 2026 (13 filings since Feb 11, 2022)
  • Durable Capital Partners LP Filed SCHEDULE 13G/A on Goosehead Insurance, Inc., latest Aug 7, 2026 (4 filings since Feb 11, 2022)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on Goosehead Insurance, Inc., latest Jul 31, 2026 (2 filings since Apr 30, 2026)
  • Capital World Investors Filed SCHEDULE 13G/A on Goosehead Insurance, Inc., latest May 14, 2026 (3 filings since Feb 13, 2023)
  • VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Goosehead Insurance, Inc., latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Goosehead Insurance, Inc., latest Mar 27, 2026 (5 filings since Feb 10, 2022)
  • DF DENT & CO INC Filed SCHEDULE 13G/A on Goosehead Insurance, Inc., latest Aug 6, 2024 (4 filings since Dec 30, 2022)
  • Capital International Investors Filed SC 13G/A on Goosehead Insurance, Inc., latest Feb 13, 2023 (2 filings since Feb 11, 2022)
  • FMR LLC Filed SC 13G/A on Goosehead Insurance, Inc., latest Feb 9, 2022
  • Goosehead Insurance, Inc. Austin, Texas, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Goosehead Insurance, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$55.2M3 Dec 31, 2025$51.8M3 Dec 31, 2024+6.6%
Accumulated depreciation$33.7M3 Dec 31, 2025$27.7M3 Dec 31, 2024+21.5%
Property and equipment, net$21.5M3 Dec 31, 2025$24.1M3 Dec 31, 2024−10.6%
Operating-lease assets (leased space)$34.1M3 Dec 31, 2025$37.4M3 Dec 31, 2024−8.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$34.4M3 Dec 31, 2025$54.3M3 Dec 31, 2024−36.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$39.7M3 Dec 31, 2025$25.1M3 Dec 31, 2024+58.3%
Accumulated amortization$10.9M3 Dec 31, 2025$6.3M3 Dec 31, 2024+72.5%
Finite-lived intangibles, net$39.7M3 Dec 31, 2025$25.1M3 Dec 31, 2024+58.3%

Properties, in its own words

Our headquarters is located in leased offices in Westlake, Texas. The Westlake lease consists of approximately 230,000 square feet and expires in June 2033. As of December 31, 2025, our company-owned insurance brokerage business leases approximately 512,000 square feet of office space in Texas, Arizona, Colorado, Florida, Illinois, Indiana, Minnesota, North Carolina, Ohio, Tennessee, Virginia, and Washington under 18 leases, 4 of which were not yet operational as of December 31, 2025. These offices are typically located in small office parks, generally with lease terms of five to ten years. We believe that all of our properties and facilities are adequate to support our current needs. In the future, we may need to purchase, construct, or lease additional facilities as our operations continue to expand.

Item 2 of the 10-K filed Feb 19, 2026.5

Leadership

Who has led Goosehead Insurance, Inc., and when. Pick a name to see everywhere that person has worked.

President

  1. Michael C. Colby2018–2022

Chief financial officer

  1. Mark S. Colby2018–2022

Chief operating officer

  1. Michael C. Colby2018–2022
20202025
Board members and other officers (16)

Timeline

  1. Jul 22, 20268-K Results of operations; Executive or director change34
  2. Jul 14, 20268-K Entered a material agreement35
  3. May 4, 20268-K Shareholder vote36
  4. Apr 22, 20268-K Results of operations; Executive or director change; Other events37
  5. Apr 8, 20268-K Executive or director change38
  6. Mar 31, 20268-K Executive or director change; Other events39
  7. Feb 17, 20268-K Results of operations; Executive or director change; Regulation FD disclosure40
  8. Oct 22, 20258-K Results of operations41
  9. Aug 28, 20258-K Executive or director change; Regulation FD disclosure42
  10. Jul 23, 20258-K Results of operations43
  11. May 6, 20258-K Shareholder vote44
  12. Apr 23, 20258-K Results of operations45
  13. Nov 13, 2017Founded Goosehead Insurance, Inc. is founded2

Calendar

Coming up

  1. Nov 9, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.29 a share, on Oct 22, 2025.46

When it reported results

  1. Jul 22, 2026Reported quarterly or annual results34
  2. Apr 22, 2026Reported quarterly or annual results37
  3. Feb 17, 2026Reported quarterly or annual results40
  4. Oct 22, 2025Reported quarterly or annual results41
  5. Jul 23, 2025Reported quarterly or annual results43
  6. Apr 23, 2025Reported quarterly or annual results45
  7. Feb 24, 2025Reported quarterly or annual results47
  8. Oct 23, 2024Reported quarterly or annual results48

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

509 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 41 major events, 300 insider forms, 71 large holders, 76 other. The latest 20:

  1. Oct 7, 2026SCHEDULE 13G/A EDGAR
  2. Sep 24, 20264 EDGAR
  3. Aug 31, 20264 EDGAR
  4. Aug 31, 20264 EDGAR
  5. Aug 24, 20264 EDGAR
  6. Aug 24, 2026SCHEDULE 13D/A EDGAR
  7. Aug 21, 20264 EDGAR
  8. Aug 20, 2026144 EDGAR
  9. Aug 19, 20264 EDGAR
  10. Aug 17, 20264 EDGAR
  11. Aug 14, 2026SCHEDULE 13G/A EDGAR
  12. Aug 13, 2026144 EDGAR
  13. Aug 13, 2026144 EDGAR
  14. Aug 13, 2026SCHEDULE 13G/A EDGAR
  15. Aug 7, 2026SCHEDULE 13G/A EDGAR
  16. Aug 5, 20264 EDGAR
  17. Aug 4, 20264 EDGAR
  18. Aug 3, 20264 EDGAR
  19. Jul 31, 2026SCHEDULE 13G/A EDGAR
  20. Jul 30, 20264 EDGAR

The 509 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

303 open-market trades by officers, directors and large owners since October 2021: 32 buys and 271 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 22, 2026Durable Capital Partners LP10% ownerBuy150,000$47.32$7.1MForm 4
Aug 20, 2026KEBODEAUX ADRIENNE10% ownerSale7,000$70.00$490.0KForm 4
Aug 20, 2026Jones Serena10% ownerSale20,000$69.50$1.4MForm 4
Aug 19, 2026Jones Serena10% ownerSale9,750$67.71$660.2KForm 4
Aug 13, 2026Jones Serena10% ownerSale250$67.50$16.9KForm 4
Aug 4, 2026Mark & Robyn Jones Descendants Trust 201410% ownerSale22,481$66.87$1.5MForm 4
Aug 3, 2026Mark & Robyn Jones Descendants Trust 201410% ownerSale100,000$65.31$6.5MForm 4
Jul 31, 2026Lane Peter R.DirectorBuy1,600$63.14$101.0KForm 4
Jul 31, 2026Durable Capital Partners LP10% ownerBuy36,256$61.92$2.2MForm 4
Jul 30, 2026Mark & Robyn Jones Descendants Trust 201410% ownerSale2,519$66.27$166.9KForm 4
Jul 29, 2026Mark & Robyn Jones Descendants Trust 201410% ownerSale125,000$69.71$8.7MForm 4
Jul 28, 2026KEBODEAUX ADRIENNE10% ownerSale5,000$65.03$325.1KForm 4
Jul 28, 2026KEBODEAUX ADRIENNE10% ownerSale5,000$65.20$326.0KForm 4
Jul 27, 2026Durable Capital Partners LP10% ownerBuy40,077$61.72$2.5MForm 4
Jul 24, 2026Durable Capital Partners LP10% ownerBuy113,646$58.34$6.6MForm 4
May 29, 2026Langston Patrick Ryan10% ownerBuy2,800$35.56$99.6KForm 4
May 28, 2026Martin John ArthurChief Financial OfficerBuy5,000$34.73$173.7KForm 4
May 27, 2026Jones Mark EvanExecutive ChairmanSale9,588$40.76$390.8KForm 4
May 26, 2026Mark & Robyn Jones Descendants Trust 201410% ownerSale45,588$40.07$1.8MForm 4
May 22, 2026Jones Robyn Mary ElizabethDirectorSale82,689$41.77$3.5MForm 4

All 303 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,656,280$177.3M0.0%−30,441
Kayne Anderson Rudnick Investment Management LLC2,168,930$105.2M0.3%−89,251
Capital World Investors2,027,586$98.3M0.0%+55,315
Wasatch Advisors LP1,892,453$91.8M0.6%−399,774
Durable Capital Partners LP1,837,151$89.1M0.9%+274,182
Vanguard Portfolio Management LLC1,293,807$62.7M0.0%−25,174
Vanguard Capital Management LLC1,002,236$48.6M0.0%−69,530
State Street Corp919,003$44.6M0.0%−164,149
Df Dent & Co Inc775,412$37.6M0.7%−8,203
Langdon Equity Partners715,000$34.7M19.4%−174,500
Geode Capital Management, LLC635,114$30.8M0.0%+26,242
Arrowstreet Capital, Limited Partnership557,992$27.1M0.0%New
Goldman Sachs Group Inc507,585$24.6M0.0%+67,787
Akre Capital Management LLC443,385$21.5M0.4%No change
Morgan Stanley438,286$21.3M0.0%+115,278
Bank Of America Corp /de/426,003$20.7M0.0%+96,670
Jupiter Topco LLC400,230$19.4M0.0%New
Marshall Wace, Llp330,416$16.0M0.0%+277,880
Whitebark Investors LP269,322$13.1M10.1%No change
Northern Trust Corp234,868$11.4M0.0%+3,094
Dimensional Fund Advisors LP225,938$11.0M0.0%−185,589
Principal Financial Group Inc221,310$10.7M0.0%+1,565
Charles Schwab Investment Management Inc202,671$9.8M0.0%−14,128
Wells Fargo & Company/mn173,941$8.4M0.0%−5,533
Citigroup Inc161,474$7.8M0.0%+33,165

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Goosehead Insurance, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGoosehead Insurance, Inc.1
  • CIK0001726978
  • Employer ID (EIN)82-38860225
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6411 Insurance Agents, Brokers & Service1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address1500 Solana Blvd, Building 4, Suite 4500, Westlake, TX 762621
  • Phone214-838-55001
  • Shares outstanding24,653,390 Common Class A shares; 11,935,389 Common Class B shares as of Feb 11, 20265
  • Public float$2.7B as of Jun 30, 20255
  • AuditorDeloitte & Touche LLP, Dallas, Texas PCAOB ID 34; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceJan 16, 20181
  • Filings1,573 in all: 4 (1,145), 8-K (60), 144 (53), SC 13D/A (46), 3 (42), SC 13G/A (39), 4/A (27), 10-Q (26)1
    All 34 form types

    SCHEDULE 13G/A (23), 5 (20), SC 13G (19), S-8 (10), 10-K (8), CORRESP (8), DEF 14A (8), UPLOAD (6), SCHEDULE 13D/A (4), SCHEDULE 13G (4), ARS (3), DEFA14A (3), SC 13D (3), 3/A (2), 8-K/A (2), S-1/A (2), 10-Q/A (1), 144/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), EFFECT (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Feb 19, 2026
    Quarterly report (10-Q) Jul 23, 2026
    Proxy statement (DEF 14A) Mar 25, 2026
    Latest 8-K (8-K) Jul 22, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, par value $.01 per shareGSHDNASDAQ

From the cover page of the 10-K filed Feb 19, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Goosehead Insurance, Inc. names in Item 1A of its 10-K filed Feb 19, 2026: 53 risks under these headings, as written.5

  • Risks relating to our business
  • Risks relating to our franchise business
  • Risks relating to intellectual property, data privacy, and cybersecurity
  • Risks relating to our organizational structure
  • Risks relating to ownership of our Class A common stock
  • Risks relating to our business.
  • An overall decline in economic activity could have a material adverse effect on the financial condition and results of operations of our business.
  • Changes in prevailing interest rates or U.S. monetary policies that affect interest rates could adversely affect our ability to generate new business.
  • Volatility or declines in premiums or other adverse trends in the insurance industry may seriously undermine our profitability.
  • Because the revenue we earn on the sale of certain insurance products is based on premiums and commission rates set by Carriers, any decreases in these premiums or commission rates, or actions by Carriers seeking repayment of commissions, could result in revenue decreases or expenses to us.
  • Contingent Commissions we receive from Carriers are less predictable than standard commissions, and any decrease in the amount of the commissions we receive could adversely affect our results of operations.
  • Conditions impacting Carriers or other parties that we do business with may impact us.
The other 46 risks
  • Competition in our industry is intense and, if we are unable to compete effectively, we may lose clients and our financial results may be negatively affected.
  • Our business, financial condition, and results of operations may be negatively affected by E&O claims.
  • Our business is dependent upon information processing systems and facilities. Security breaches, cyberattacks, or other similar incidents with respect to our or our third-party service providers' or vendors' information processing systems or facilities may damage our reputation and negatively impact client retention and carrier, franchise, and Referral Partner relationships.
  • We rely on the availability and performance of information technology services and systems provided by third parties.
  • Our inability to successfully recover should we experience a disaster or other business continuity problem could cause material financial loss, loss of human capital, regulatory actions, reputational harm, or legal liability.
  • We utilize artificial intelligence, which could expose us to liability or adversely affect our business.
  • If we are unable to effectively apply technology and related tools to drive value for our clients or gain internal efficiencies and effective internal controls, our operating results, client relationships, growth, and compliance programs could be adversely affected.
  • Damage to our reputation could have a material adverse effect on our business.
  • Increasing scrutiny and changing expectations from investors, clients, and our employees with respect to our corporate responsibility and stakeholder interest practices may impose additional costs on us or expose us to new or additional risks.
  • Climate risks, including the risk of an economic crisis, risks associated with the physical effects of climate change and disruptions caused by the transition to a low-carbon economy, could adversely affect our business, results of operations, and financial condition.
  • Our inability to retain or hire qualified employees, as well as the loss of any of our executive officers, could negatively impact our ability to retain existing business and generate new business.
  • The occurrence of natural or man-made disasters could result in declines in business and increases in claims that could adversely affect our financial condition, results of operations and cash flows.
  • Non-compliance with or changes in laws, regulations, or licensing requirements applicable to us could restrict our ability to conduct our business.
  • Proposed tort reform legislation, if enacted, could decrease demand for casualty insurance, thereby reducing our commission revenues.
  • In connection with the implementation of our corporate strategies, we face risks associated with the acquisition or disposition of businesses, the entry into new lines of business, the integration of acquired businesses, and the growth and development of these businesses.
  • We have debt outstanding that could adversely affect our financial flexibility and subjects us to restrictions and limitations that could significantly impact our ability to operate our business.
  • Changes in our accounting estimates and assumptions could negatively affect our financial position and operating results.
  • Because our business is highly concentrated in Texas, California, Florida, and Illinois, adverse economic conditions, natural disasters, or regulatory changes in these states could adversely affect our financial condition.
  • Changes in tax laws could impact our operations and profitability.
  • We derive a significant portion of our commission revenues from a limited number of Carriers, the loss of which would result in additional expense and loss of market share.
  • Our business may be harmed if we lose our relationships with Carriers, fail to maintain good relationships with Carriers, become dependent upon a limited number of Carriers, or fail to develop new Carrier relationships.
  • The failure by Mark Jones and Robyn Jones to maintain either a minimum voting interest in us or the ability to elect or designate for election at least a majority of our board of directors could trigger a change of control default under our Credit Agreement.
  • Our results may be adversely affected by changes in the mode of compensation in the insurance industry.
  • We may require additional debt financing in the future, which may not be available or may be available only on unfavorable terms.
  • The failure to attract and retain highly qualified Franchisees could compromise our ability to expand the Goosehead network.
  • Our financial results are affected directly by the operating results of Franchisees and agents, over whom we do not have direct control.
  • Our Franchisees and agents could take actions that could harm our business.
  • We are subject to a variety of additional risks associated with our Franchisees.
  • Failure to support our expanding franchise system could have a material adverse effect on our business, financial condition, or results of operations.
  • Our franchising activities are subject to a variety of state and federal laws and regulations regarding franchises, and any failure to comply with such existing or future laws and regulations could adversely affect our business.
  • We are subject to certain risks related to litigation filed by or against us, and adverse results may harm our business and financial condition.
  • We may not be able to manage growth successfully.
  • Risks relating to intellectual property, data privacy and cybersecurity
  • Our business depends on a strong brand, and any failure to maintain, protect and enhance our brand would hurt our ability to grow our business, particularly in new markets where we have limited brand recognition.
  • Infringement, misappropriation, or other violation of our intellectual property and other proprietary rights by third parties could harm our business.
  • Failure to obtain, maintain, protect, defend, or enforce our intellectual property and other proprietary rights, or allegations that we have infringed, misappropriated, or otherwise violated the intellectual property and other proprietary rights of others, could harm our reputation, ability to compete effectively, financial condition and business.
  • Improper disclosure of confidential, personal or proprietary information, whether due to human error, misuse of information by employees or vendors, or as a result of security breaches, cyberattacks or other similar incidents with respect to our or our service providers' or vendors’ systems, could result in regulatory scrutiny, legal liability or reputational harm, and could have an adverse effect on our business or operations.
  • We are subject to complex and evolving laws, regulations, rules, industry standards and contractual obligations regarding data privacy and cybersecurity, which can increase the cost of doing business, compliance risks, and potential liability.
  • We are a holding company and our principal asset is our 67.4% ownership interest in Goosehead Financial, LLC, and we are accordingly dependent upon distributions from Goosehead Financial, LLC to pay dividends, if any, taxes, make payments under the tax receivable agreement and pay other expenses.
  • In certain circumstances, Goosehead Financial, LLC will be required to make distributions to us and the other holders of LLC Units, and the distributions that Goosehead Financial, LLC will be required to make may be substantial.
  • We have Pre-IPO LLC Members who own a significant portion of our common stock and whose interests in our business may be different than yours, and certain statutory provisions afforded to stockholders are not applicable to us.
  • We will be required to pay the Pre-IPO LLC Members for certain tax benefits we may claim, and the amounts we may pay could be significant.
  • Some provisions of Delaware law and our certificate of incorporation and by-laws may deter third parties from acquiring us and diminish the value of our Class A common stock.
  • Future sales, or the possibility of future sales, of a substantial number of our shares of Class A common stock could adversely affect the price of our shares of Class A common stock.
  • We may not be able to successfully maintain effective internal controls over financial reporting.
  • We expect that our stock price will be volatile, which could cause the value of your investment to decline, and you may not be able to resell your shares at or above your investment price.
  • Our ability to pay dividends to our stockholders may be limited by our holding company structure, contractual restrictions, and regulatory requirements.

Legal proceedings

From time to time, we may be involved in various legal proceedings, lawsuits and claims incidental to the conduct of our business. Our businesses are also subject to extensive regulation, which may result in regulatory proceedings against us. We are not currently party to any material legal proceedings.

The opening of Item 3, Legal Proceedings.5

Sources

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