SelectQuote narrows loss as revenue falls 15%

SelectQuote reported revenue of $280 million for its fiscal first quarter ended September 30, 2026. That was down 15% from $328.8 million a year earlier. Its net loss narrowed to $20.3 million from $30.5 million.

The adjusted EBITDA loss improved to $17 million from $32.1 million. Cash used in operations declined to $17.2 million from $21.6 million. The company attributed the improvement to operating efficiencies and a focus on profitability and cash flow, achieved alongside a deliberately smaller Senior agent force.

Senior revenue declined 14% to $50.8 million, while the segment’s adjusted EBITDA loss narrowed to $12.3 million from $21 million. Approved Medicare Advantage policies fell 18% to 50,976. Lifetime value of commissions per approved MA policy rose 16% to $890.

Healthcare Services revenue fell 16% to $186.3 million, pressured in part by the Inflation Reduction Act. Adjusted EBITDA increased 56% to $11.2 million. SelectRx membership declined 7% to 99,753 as the company tightened customer qualification. Profitability per member rose 60% to $107.60.

Life segment revenue declined 8% to $42.8 million, while adjusted EBITDA rose 31% to $7.3 million. Term life premium volume fell 5%, and final expense premium volume declined 32%.

More than one-third of incoming Senior calls are now screened and routed by AI. Agents handle the needs analysis, and “from there, our voice AI enrollment agent takes over to guide the beneficiary through the formal enrollment,” said CEO Tim Danker.

SelectQuote maintained its fiscal 2027 outlook: revenue of $1.35 billion to $1.45 billion, adjusted EBITDA of $90 million to $115 million, and operating cash flow above $60 million.