everyone you, hello the to on Thank Mike. And call.
XX% million premium $XXX XXXX, to premiums, to indicator the segment included the fourth million. premium of of to written million. growth corporate and future growth, XX% quarter ancillary increased of of total This revenue our For franchise core $XXX XX% $XXX growth and leading
and For XXXX, new XX% for franchise million corporate $X.X driven to This growth generation, growth This of premiums and retention. premium to XXXX. XX% full full-year of is included corporate to growth strong XX% year growth premium $X.X billion. new billion the being increased and franchise agent of business by $XXX increased the
and a million a $X.X more challenging to for continued the and period, contingent XXXX. XX% X XX of significant annual from $XX.X year an our at activity quarter revenues the matched new to while royalty events. The increase commissions, believe around our as exceeded basis XX% compared year Full-year premium several it the fee franchise for On channel to to XX%, quarter. million were force, revenue the go-forward increases normalized mix Revenues end growing challenging in to a were ago. shift an towards year-ago future percent an XX% predictably which increased to from full-year core is implies $X.X high XX% from increase revenues million, contingents Full-year includes XX% convert weather expectations, macroenvironment XXXX in our the growth level our guidance premiums full-year Importantly, growth the ratio initial business of what a growth million Ancillary was despite million, to business core of the areas. XX% due our which the for of $XXX compared million grew $XXX a we of faster for quarter-end, ongoing had in of reasonable over million in revenue while premiums, XX time consistently one of were million ago. in ancillary revenues driving policy. a assume life for to increase in we was was renewal increase quarter, At loss from points trends renewals as policies $XX.X XXXX embedded of premium. the $XX.X and million comparison $XX.X basis, revenue,
$XX.X during and year-ago were XX% points of core year respectively. basis of evidenced a However, million significantly level, revenue an quarter, and XXX XXXX of vary franchise premium, by any period. as which increase percentage the channel as from this contingencies, generated the The given XXXX can from XX
core of of full the revenue ago. increase prior from business increased revenue channel end from strong to retention XX% growth to from year, For our compared had year, levels. Franchise and and a year XXXX. $XX.X from up franchise franchisees X,XXX operating core driven up we by industry-leading quarter, already is total X,XXX channel XX% production franchises, XX% fourth was million, the new franchises, the an XX% the At
also to quarter. facilitate and growth expansion corporate XXX, of We an invest heavily headcount channel quarter in at sales agent from agent was hiring continue the franchise to end of XX% the the increase in Corporate national the productivity. year-ago
fourth franchise franchise core to Our quarter, to are levels driving XX% in $XX.X the we made million of revenues million, $XX.X level year period. critical XXXX corporate support are operating were the for XX% have Total from were $XX.X XXXX. fourth channel year footprint. a revenues XX% ago. productivity corporate channel past an up up the investments an increase the expanding and compared were appropriate our investment successfully additions the over expenses year-ago million, core of from Full-year Corporate quarter of to
compared of XXXX, compared For was and year year-ago quarter, our $XX.X increase of Compensation and for to and $XXX and XXXX quarter to expenses ensure compensation continue by franchise onboarding internal estate and ago, manage the the of an the XX% the administrative year support functions increase agent XXXX, higher of year to website support our full recruiting million, a million the in million full XX% of as economy $XX operating of million from the growth, ongoing to in full increase integration expense increased technology expenses to up General footprint, revenue expanding the US reopen, developers designed across headcount a in and up digital year compared G&A organization, in travel for entertainment an as trajectory of service and XX% particularly XXXX. our well million for our driven The from period XX% our renewals, of benefits and for and and to our on clients the the our channel XX% Growth the XXXX. is our as agents to corporate real $XX.X stream, benefits growth edge continues largest in for to projects. XXXX. being newly systems sales our agents to XXXX, is due cutting expense investments users. $XX.X carrier hiring number investments was an expenses in were
new immediate lockdowns opening benefits Additionally, they The we G&A employees low of to of agents production. up as expense, with were while has a revenue offices, artificially an scale time over XXXX hiring comparison. the combined of COVID challenging G&A due and onboarding their onboard expenses franchisees, creating impact ramp to the and
That to ahead some Looking our XXXX, expense versus to minimis expense due expansion which compared significant was over the will did versus offices a in compared planned existing expense in G&A precautions the amount expanded still from office of other G&A from to further year due of in year-ago growth footprint, to we February, de said, of see period. million $X.X in historically, agent a million in full pandemic. continue to surrounding expense the our XXXX to EBITDA XXXX marketing quarter adjusted would $X.X Total occur not XXXX. the expect and to office growth annual safety of rate $X XXXX million conference slow
decrease by $XX.X was full challenging investments growth. periods compared year, for adjusted million contingent in both primarily For commissions and XXXX. the million driven $XX.X to The EBITDA in future
agent, the the offset producers add ramp XXXX area new from development begin particularly in many of to help referrals the selling and and in to costs. we as through to client scale the new cross nicely up and initial made begin ongoing and investments expect offices XXXX digital We opportunities
improvement. growth expenses focus important have strategically investing now, long-term are it previously, At our more high believe we for which most we drive will rates, variable. is said we largely growth As margin believe to on
and anticipate we XXXX, growth strong EBITDA EBITDA significant margin in However, in do expansion.
a As the weakest seasonally year. is quarter the of our first reminder, earnings quarter
our margin place Given the this, a G&A earnings growth majority expect challenging in take first more as of as after well we and to XXXX from meeting, comparison of earlier the our quarter XXXX. annual
of note the million had XXXX. XXXX, line payable unused December of equivalents at XX, We as XX, an company of of and of million. $XX.X December year-end. cash Total balance $XX.X credit term had million was outstanding $XX.X As cash
range XXXX, expected premium be of written and billion on be range. revenues XX% the of continued XXXX levels year Total low that with For organic XX% end million, the between average range, outlook to are $XXX for the representing the open set organic their premiums the want representing end expected revenue XX% with to of full-year the contingent time. growth $X.XXX growth on XXXX for end is on the a of million company's to the foundation and XXXX of range Operator? and beyond. to historically to growth placed follows. was of by revenue investments billion, Total questions. core on momentum And and everyone as and lines and of significant growth driven end the high levels are between up the the $XXX XX% XXXX $X.XXX for low high important for strong that, the in thank high on commissions. for I let's of
