SelectQuote : Third Quarter 2026 Earnings Presentation

Published: 2026-05-05 07:07:11 ET SLQT

Published on 05/05/2026 at 07:07 am EDT

Exhibit 99.2

Earnings Presentation May 5, 2026

Consolidated

Revenue increased 6% and Adjusted EBITDA* increased 18% year-over-year, driven by continued Healthcare Services growth and a strong Senior OEP

Senior

Adjusted EBITDA increased 28% year-over-year to $59 million in 3Q, including a positive change in estimate of $14 million to commissions receivable

Solid agent productivity and marketing efficiency yielded 32% Adjusted EBITDA margins

Existing customer and new customer retention improved year-to-date in 2026

Healthcare Services

3Q Adjusted EBITDA increased to $5 million as PBM reimbursement rates increased on January 1st

Revenue grew 5% year-over-year to $199 million despite Inflation Reduction Act impacts

SelectQuote Local

Leverages industry-leading marketing, technology, customer service, and carrier relationships to offer Senior and Life products through a franchising model with local sales and service

*See "Non-GAAP Financial Measures" section on slide 2

Senior Healthcare Services

Agent Productivity† Prescriptions Per Day

33k

29k

20k

3Q24 3Q25 3Q26 3Q24 3Q25 3Q26

Marketing Expense Per Policy*†

Revenue / CAC**

6.7x

14%

5.8x

4.2x

3Q24 3Q25 3Q26

†Percentage change deltas are calculated relative to 3Q24 results.

*Represents total Senior division marketing expenses per approved Medicare Advantage and Medicare Supplement policy.

3Q24 3Q25 3Q26

**The revenue to customer acquisition cost ("CAC") multiple represents total revenue as a multiple of total marketing acquisition costs for the Senior and Healthcare Services divisions, which represents the direct costs of acquiring leads.

Commentary

Revenue

$MM

Adjusted EBITDA*

$MM

Revenue growth driven by Healthcare Services, strong Senior OEP results, and a positive change in estimate

Adjusted EBITDA* of $45 million increased 18% year-over-year

Robust 32% Senior Adjusted EBITDA margins, inclusive of

$14 million change in estimate

$408

$431

$45

$38

3Q25 3Q26 3Q25 3Q26

*See "Non-GAAP Financial Measures" section on slide 2

Commentary

Revenue

$MM

Adjusted EBITDA

$MM

32%

27%

Senior revenue of $183 million, up 8% year-over-year

Adjusted EBITDA increased year-over-year to $59 million

$14 million change in estimate to commissions receivable

Strong 32% Adjusted EBITDA margins

$183

$169

$59

$46

3Q25 3Q26 3Q25 3Q26

140

120

100

Members

SELECTRX

106 108 107

113 117

Revenue & Adjusted EBITDA

$MM

$190

$199

$214

$221

$231

3Q25 4Q25 1Q26 2Q26 3Q26

$12

3Q25 4Q25 1Q26 2Q26 3Q26

ADJUSTED EBITDA

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Commentary Revenue

Revenue increased 4% year-over-year driven by continued strong Final Expense performance

Adjusted EBITDA remained steady year-over-year in 3Q

$MM

Adjusted EBITDA

$MM

$46

$48

$6 $6

3Q25 3Q26 3Q25 3Q26

REVENUE

ADJUSTED EBITDA*

*See "Non-GAAP Financial Measures" above on slide 2.

3Q FY

FY YTD

(in thousands)

2026

2025

2026

2025

Net income

$ 40,197

$ 26,022

$ 79,031 $ 34,712

Share-based compensation expense

3,678

4,960

11,480 13,505

Transaction costs

631

5,813

1,478 13,358

Depreciation and amortization

4,385

4,925

13,007 15,584

Loss on disposal of property, equipment, and software, net

- 160

Impairment of equity-method investment

1,000 -

Loss on extinguishment of debt

8,659

8,659 -

Change in fair value of warrants

(27,489)

(32,986)

(61,821) (25,344)

Interest expense, net

10,602

20,407

34,023 67,160

Income tax expense

3,927

8,579

10,386 4,424

Adjusted EBITDA

$ 44,590

$ 37,723

$ 97,243

$ 123,559

3Q FY 2026

(in thousands)

Senior

Healthcare Services

Life

Total

Total revenue from reportable segments

$ 182,890

$ 199,386

$ 47,896

$ 430,172

Less:

Cost of commissions and other services revenue

(54,596)

(6,976)

(18,465)

Cost of goods sold - pharmacy revenue

(169,814)

Marketing expense

(69,060)

(1,686)

(23,131)

Technical development

(318)

Selling, general, and administrative

(592)

(15,314)

(216)

Adjusted Segment EBITDA

$ 58,642

$ 5,278

$ 6,084

$ 70,004

Reconciliation of total segment Adjusted EBITDA

All other Adjusted EBITDA

1,376

Corporate

(26,790)

Share-based compensation expense

(3,678)

Transaction costs

(631)

Depreciation and amortization

(4,385)

Loss on extinguishment of debt

(8,659)

Change in fair value of warrants

27,489

Interest expense, net

(10,602)

Income before income tax expense

$ 44,124

3Q FY 2025

(in thousands)

Senior

Healthcare Services

Life

Total

Total revenue from reportable segments

$ 169,442

$ 189,569

$ 45,842

$ 404,853

Less:

Cost of commissions and other services revenue

(53,374)

(5,816)

(17,415)

Cost of goods sold - pharmacy revenue

(161,026)

Marketing expense

(69,808)

(1,939)

(21,789)

Technical development

(491)

Selling, general, and administrative

(559)

(13,852)

(274)

Adjusted Segment EBITDA

$ 45,701

$ 6,445

$ 6,364

$ 58,510

Reconciliation of total segment Adjusted EBITDA

All other Adjusted EBITDA

3,549

Corporate

(24,336)

Share-based compensation expense

(4,960)

Transaction costs

(5,813)

Depreciation and amortization

(4,925)

Loss on disposal of property, equipment, and software, net

(3)

Change in fair value of warrants

32,986

Interest expense, net

(20,407)

Income before income tax expense

$ 34,601

SelectQuote Inc.

6800 West 115th Street Suite 2511

Overland Park, Kansas 66211 Phone: (877) 678-4086

Investor Relations [email protected]

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Disclaimer

SelectQuote Inc. published this content on May 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 05, 2026 at 11:06 UTC.