v3.25.2
Revenue (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue The tables below present the Company's revenue by distribution channel, as well as a reconciliation to total revenue for the three and six months ended June 30, 2025 and 2024. Commission and fee revenue and contingent commission revenue earned from the agent distribution channel includes revenue generated through the Company's insurance distribution partnerships, as well as its relationships with independent agents and brokers. Commission and fee revenue and contingent commission revenue earned from the direct distribution channel includes revenue generated by Hagerty's employee agents.
Three months ended June 30, 2025
AgentDirectTotal
in thousands
Commission and fee revenue$69,678 $58,755 $128,433 
Contingent commission revenue8,102 6,752 14,854 
Membership revenue— 15,674 15,674 
Marketplace revenue— 24,316 24,316 
Other revenue— 5,185 5,185 
Total revenue from customer contracts77,780 110,682 188,462 
Earned premium (recognized under ASC 944)177,785 
Finance revenue (recognized under ASC 310)2,452 
Total revenue$368,699 

Three months ended June 30, 2024
AgentDirectTotal
in thousands
Commission and fee revenue$62,833 $53,272 $116,105 
Contingent commission revenue6,856 5,855 12,711 
Membership revenue— 14,133 14,133 
Marketplace revenue— 4,100 4,100 
Other revenue— 6,396 6,396 
Total revenue from customer contracts69,689 83,756 153,445 
Earned premium (recognized under ASC 944)157,612 
Finance revenue (recognized under ASC 310)2,168 
Total revenue$313,225 
Six months ended June 30, 2025
AgentDirectTotal
in thousands
Commission and fee revenue$118,770 $98,833 $217,603 
Contingent commission revenue13,886 12,085 25,971 
Membership revenue— 31,020 31,020 
Marketplace revenue— 51,452 51,452 
Other revenue— 10,808 10,808 
Total revenue from customer contracts132,656 204,198 336,854 
Earned premium (recognized under ASC 944)347,140 
Finance revenue (recognized under ASC 310)4,298 
Total revenue$688,292 
Six months ended June 30, 2024
AgentDirectTotal
in thousands
Commission and fee revenue$106,880 $88,991 $195,871 
Contingent commission revenue11,872 9,913 21,785 
Membership revenue— 27,585 27,585 
Marketplace revenue— 13,025 13,025 
Other revenue— 13,682 13,682 
Total revenue from customer contracts118,752 153,196 271,948 
Earned premium (recognized under ASC 944)309,231 
Finance revenue (recognized under ASC 310)3,754 
Total revenue$584,933 
The following tables present Hagerty's revenue disaggregated by geographic area, as well as a reconciliation to total revenue for the three months ended June 30, 2025 and 2024:

Three months ended June 30, 2025
U.S.CanadaEuropeTotal
in thousands
Commission and fee revenue$116,074 $10,109 $2,250 $128,433 
Contingent commission revenue13,909 — 945 14,854 
Membership revenue14,647 1,021 6 15,674 
Marketplace revenue13,849 3,928 6,539 24,316 
Other revenue4,484 87 614 5,185 
Total revenue from customer contracts162,963 15,145 10,354 188,462 
Earned premium (recognized under ASC 944)177,785 
Finance revenue (recognized under ASC 310)2,452 
Total revenue$368,699 

Three months ended June 30, 2024
U.S.CanadaEuropeTotal
in thousands
Commission and fee revenue$104,909 $9,309 $1,887 $116,105 
Contingent commission revenue12,663 — 48 12,711 
Membership revenue13,204 929 — 14,133 
Marketplace revenue3,720 65 315 4,100 
Other revenue5,648 223 525 6,396 
Total revenue from customer contracts140,144 10,526 2,775 153,445 
Earned premium (recognized under ASC 944)157,612 
Finance revenue (recognized under ASC 310)2,168 
Total revenue$313,225 
The following tables present Hagerty's revenue disaggregated by geographic area, as well as a reconciliation to total revenue for the six months ended June 30, 2025 and 2024:

Six months ended June 30, 2025
U.S.CanadaEuropeTotal
in thousands
Commission and fee revenue$201,040 $12,993 $3,570 $217,603 
Contingent commission revenue24,763 — 1,208 25,971 
Membership revenue29,035 1,975 10 31,020 
Marketplace revenue38,361 3,941 9,150 51,452 
Other revenue9,654 253 901 10,808 
Total revenue from customer contracts302,853 19,162 14,839 336,854 
Earned premium (recognized under ASC 944)347,140 
Finance revenue (recognized under ASC 310)4,298 
Total revenue$688,292 

Six months ended June 30, 2024
U.S.CanadaEuropeTotal
in thousands
Commission and fee revenue$180,925 $11,926 $3,020 $195,871 
Contingent commission revenue21,691 — 94 21,785 
Membership revenue25,748 1,837 — 27,585 
Marketplace revenue12,124 537 364 13,025 
Other revenue12,465 390 827 13,682 
Total revenue from customer contracts252,953 14,690 4,305 271,948 
Earned premium (recognized under ASC 944)309,231 
Finance revenue (recognized under ASC 310)3,754 
Total revenue$584,933 
Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable The following table is a summary of the Company's contract assets and liabilities as of June 30, 2025 and December 31, 2024:
June 30,December 31,
20252024
in thousands
Contract assets$14,687 $15,860 
Contract liabilities$50,936 $47,239