Hagerty, Inc. (HGTY)

Hagerty Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	149.23	78.3	28.18	2.4	-61.35
Depreciation & Amortization	37.52	38.91	45.81	33.89	22.14
Stock-Based Compensation	18.91	17.36	18.02	12.13	-
Other Adjustments	2.64	19.72	7.47	-51.56	48.16
Changes in Receivables	-62.6	26.5	-69.88	-52.04	-39.12
Changes in Reinsurance Contract Assets	-6.8	-17.19	-11.72	-	-
Changes in Deferred Acquisition Costs	-22.76	-14.83	-34.3	-25.81	-22.96
Changes in Unearned Premiums	68.69	48.68	96.69	73.95	50.62
Changes in Claims Reserves	-2.67	68.37	31.25	57.91	32.38
Changes in Other Operating Activities	36.82	-88.79	22.18	4.46	12.42
Operating Cash Flow	218.99	177.02	133.71	55.33	42.28
Operating Cash Flow Growth	23.70%	32.40%	141.66%	30.86%	-50.01%
Capital Expenditures	-24.54	-21.34	-26.4	-44.38	-43.37
Purchases of Investments	-354.94	-680.31	-10.57	-4.23	-12.25
Proceeds from Sale of Investments	229.9	113.22	7.47	1.22	1.18
Payments for Business Acquisitions	-1.62	-25.12	-8.68	-30.65	-14.61
Other Investing Activities	-34	-5	-14.46	-13.47	0.05
Investing Cash Flow	-185.2	-618.56	-52.65	-91.52	-68.99
Long-Term Debt Issued	257.19	61.97	161.55	94.37	108.04
Long-Term Debt Repaid	-187.88	-90.78	-139.85	-122.5	-42.5
Net Long-Term Debt Issued (Repaid)	69.31	-28.8	21.7	-28.13	65.54
Repurchase of Common Stock	-3.85	-5.84	-	-	-
Net Common Stock Issued (Repurchased)	-3.85	-5.84	-	-	-
Issuance of Preferred Stock	-	-	79.16	-	-
Net Preferred Stock Issued (Repurchased)	-	-	79.16	-	-
Common Dividends Paid	-	-	-	-	-4.06
Preferred Share Dividends Paid	-5.6	-5.6	-	-	-
Other Financing Activities	-29.93	-6.68	-3.3	0.05	270.59
Financing Cash Flow	29.93	-46.92	103.16	-28.08	332.07
Effect of Exchange Rate Changes on Cash and Cash Equivalents	2.44	-2.97	0.87	-0.5	-0.46
Net Cash Flow	66.16	-491.43	185.09	-64.78	304.89
Free Cash Flow	194.45	155.68	107.3	10.95	-1.09
Free Cash Flow Growth	24.90%	45.08%	879.67%	-	-
FCF Margin	13.35%	12.54%	10.45%	1.39%	-0.18%
Free Cash Flow Per Share	0.56	1.76	0.32	0.03	-
Levered Free Cash Flow	199.72	-73.78	130.52	46.06	38.03
Unlevered Free Cash Flow	256.03	71.04	143.41	17.28	7.53

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q