Thanks, Mike, afternoon call. on the and everyone to good
into go quarter our results. third Let's right
quarter For of and was increase quarter quarter. new growth contingent $XXX,XXX the the in This the to period. revenues to to third in prior business the and year in by initially XX% from renewal strong corporate driven million well fourth in our and we a both improvement produced XXXX, as franchise commission receive $XX.X received million compared payments were as that in expected $XX.X channels
of timing we $XXX.X expect payments any one not At we our of and receive result fourth a XX% second is do year the shift, written business, from proxy quarter. sequential to quarter, XXXX. the the XX% end also Total from in the had the quarter, of during good XXX,XXX million. As to which growth commission XX% a policies a growth of for the in grew contingent the increase year-over-year the quarter end force, over of ago premiums
us We in high long-term continue performance growth our success. for consistent indicators, year-over-year to produce key well which positions
As market we housing than expected earlier, during the Mark slowdown headwind was larger in battled a QX. mentioned a
technology process Fortunately, our proprietary slower quickly relatively to agents of share to pivot allow during our sales volume. and sales lead times market expanding
also in remains new defensible. go very the That of truly because develop and fundamental somewhat competitively relationships additional it said, QX. we efforts, will our impacted be believe to robust strategy see of to the suggest takes business benefits market marketing signs being time all production However, and
Based decision year additional compared timing while sales renewal of was impact headwinds. compensation to of quarter share in market higher market by XX% Goosehead EBITDA by franchise and EBITDA purely So year-over-year we are end offset EBITDA EBITDA adjusted in XX% margin will both growth remain related the seeing, headwinds hiring of adjusted to of the Adjusted impacted third in the we on driven grew channels Total phenomenon. growth period. we $X.X XXXX while to we commissions these accelerate of contingent agents. have in a related benefits XX% we adjusted of temporary the believe recorded the the housing the revenue current prior margin QX, confident to to by our million, are margin was employee
hiring their accelerated in impacts As we've they G&A noted which to more incur expense, to ramp the employee upfront and begin compensation in productivity. causes the us past, any margin short-term, related our naturally while
us additional significant markets made that few also we dollars provide will a of investments additional into over We technology with competitive believe in thousand time. advantages hundred
over service a the per Finally, fees the than past more million. anticipated. to in revenue new in the agent our to fees due over and impact, revenues our grew company but in leading investments are be renewal we we're positioning quarter as us the We're and the by well All as driven to creating housing and to XX% pleased public over most our we headwinds the new originally prior ongoing making considering agency increase XX% headcounts have and these third believe with renewal year. corporate policies was results costs $X.X in making time. term channel, Breaking growth well down proven primarily approximately and in margin the of $XXX,XXX a strategic revenue continue expansion sustained of increase experience. experienced grew agency and year to sales of to number related P&L will business to the quarter the ultimately productivity, further segment growth market investments extremely improve people immediate growth we're revenue XX% XX% business technology being corporate This XXXX, period by to investments and rising a in as the
the largely team, ago our is XX and of high responsible key a metric year continued Our Net for the of which Score, from to retention. Promoter was increased XX levels service it
million. XX% will EBITDA XX, June September of prior near-term one Even to had XX, up we XX% impacts corporate corporate up EBITDA headcounts XXXX, channel, to period. XX% previously versus ago was in Adjusted XX% in margin our X.X sales the XXX XX% of the quarter the we agents with XXXX. year grow and adjusted year able from discussed, since in the As
investments there also and would agent is our some hiring. pressure that be recent given commentary Our consistent in our significant with near-term prior adjusted EBITDA corporate margin
an As margin expect we translate will employee’s several before a base to outpaced months takes investments typically their commissions reminder, salary, continue expansion. the it but into long-term
over Additionally, market position well the share. couple agents, the new us to into business of great in the large onboarding of we strides training quarters terms win which longer-term past gain should and made of and influx
of generated a of on XX% larger million, channel generated from franchise driven Our royalty prior renewal the $X.X improvement the the royalty business. from franchises by as operating versus period, revenues business as number higher new year greater fees fees well
We launch. have when and refine to how continue this, and launching. we franchise the our on months is Because from dependent a added they develop during the to going requirements, best first new practices more and largely successful period pre-training signing for live. how are success of within agent franchises An training lengthening of several
business, of does can when fee we revenue. timing recognize for the better strength initial the this the our differ franchise While of
the training expect our We EBITDA given per nature a $XXX,XXX franchise onboarding quarter, fixed directly fee short-term flows initial to of which of and about deferral of revenue costs.
long-term However, this productive we results renewal revenue agents. higher with margin yield stronger more believe by will driven
As of XXX one XX, XXXX, we up September year June XX, XX% from and XX% franchises ago up operating, had XXXX. since
renewable to and was we made recognition IPO. The million. results renewal versus investments quarter franchise and $X.X XXXX particularly initial ongoing under prior compared and our reducing delayed franchise year previous basis the costs our was from in business. facilities expansion additional $XXX,XXX further an offset those additional team driven sales in communicated, franchise in off recognized of to some invested grow robust costs we $X.X immediately On the partially loan this into year origination term our revolving higher million prior based least the in pipeline We including would margin margin sales EBITDA period, the an in in equity related were $X.X by while August new franchise renewal also XXXX company equity margin million the to note expect benefits share. hiring, new higher expect credit quarter to handsomely Included EBITDA sales million EBITDA continued year Net from channel, the increase department. our commitments period. us quarter and terms other channel $X.XX XXX for in $XX was borrowing prior to channel. related in income to charges franchise by as $XX $XXX,XXX of the and and We of overall our considerable per points. mix adjusted period. in approximately net at third in the for compensation the facility, long-term. one-time We refinanced EPS payable traveling adjusted of during long-term the the should the of as margin million, and from $XX third The was in expenses, income to Adjusted forward. our adjusting has third expense million incur a of the option moving that as previously debt XX% additional renewal margin additional to compensation we franchise subject Xrd, to achieve XX% debt we QX, $XXX,XXX approval revenues revenue, business credit our converts XX% increase Remember expect compensation over part adjusted with growth to by upon refinancing When pay the a fee royalties lead a the time up have in policies the for was
an refinancing of we million expense achieve the in ongoing the charge quarter incurred of a quarter, on savings expense basis. in annual the we fourth the interest result $X.X one-time as expect to While beginning interest in excess
outstanding. $XX.X we'll September we you as of well Q&A. cash million time and as the of your $XX.X XX, had for Operator? As for thank open now equivalents that, up of With I cash call million debt and
