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SEGMENT INFORMATION
 3 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s operating segments and reportable segments have been determined in accordance with ASC 280. We currently have three reportable segments: i) Senior, ii) Healthcare Services, and iii) Life. Senior primarily sells senior Medicare-related health insurance products. Healthcare Services includes SelectRx, Healthcare Select, and SPM. Healthcare Services provides products and services to our Medicare policyholders, which are focused on improving patient health outcomes. Life primarily sells term life and final expense products. The All Other category is reflective of the revenue generated from selling individual automobile and homeowners’ insurance. Additionally, the Company accounts for non-operating activity, share-based compensation expense, depreciation and amortization, goodwill, impairment charges, certain intersegment eliminations, and the costs of providing corporate and other administrative services in our administrative division, Corporate & Eliminations.

Our operating segments are determined based on how our chief executive officer, who also serves as our chief operating decision maker (“CODM”), manages our business, regularly accesses information, and evaluates performance for operating decision-making purposes, including allocation of resources. Adjusted EBITDA is our segment profit measure and a key measure used by our CODM and Board of Directors to understand and evaluate the operating performance of our business and on which internal budgets and forecasts are based and approved.

Our segment disclosure includes intersegment revenues, which consist of affiliate marketing fees for services provided by our Senior segment to our Healthcare Services and Life segments as well as services provided by Life to other segments. These intersegment transactions are recorded by each segment at amounts that we believe approximate fair value as if the transactions were between third parties and, therefore, impact segment performance. However, the revenue and corresponding expense are eliminated in consolidation. The elimination of such intersegment transactions is included within the “Eliminations of intersegment revenues” in the tables below. Apart from these intersegment transactions, the accounting policies of the reportable segments are the same as those described in Note 1 of the condensed consolidated financial statements.
The following tables present information about the reportable segments for the periods presented.

We do not report total assets by segment as our CODM does not use this information to evaluate operating segment performance. Accordingly, we do not regularly provide such information by segment to our CODM.

Three Months Ended September 30, 2026:

(in thousands)SeniorHealthcare ServicesLifeTotal
External revenue$49,206 $185,808 $42,751 $277,765 
Intersegment revenue1,600 470 48 2,118 
Total revenue from reportable segments$50,806 $186,278 $42,799 $279,883 
All other revenue (1)
2,242 
Eliminations of intersegment revenues(2,118)
Total consolidated revenue$280,007 
(1) Represents revenue from SelectQuote Auto & Home (“SQAH”), a non-reportable segment.

(in thousands)SeniorHealthcare ServicesLifeTotal
Total revenue from reportable segments
$50,806 $186,278 $42,799 $279,883 
Less:
Cost of commissions and other services revenue
(36,201)(5,620)(15,579)
Cost of goods sold - pharmacy revenue
— (153,693)— 
Marketing expense (1)
(26,387)(1,791)(19,579)
Technical development (2)
— (250)— 
Selling, general, and administrative (3)
(521)(13,693)(347)
Adjusted Segment EBITDA$(12,303)$11,231 $7,294 $6,222 
Reconciliation of total segment Adjusted EBITDA
All other Adjusted EBITDA (4)
569 
Corporate (5)
(23,799)
Share-based compensation expense(2,731)
Transaction and severance costs (6)
(3,851)
Depreciation and amortization(4,460)
Loss on disposal of property, equipment, and software, net(74)
Change in fair value of warrants12,573 
Interest expense, net(10,966)
Loss before income tax benefit$(26,517)
(1) Primarily consists of direct advertising and lead generation costs across various marketing channels.
(2) Primarily comprised of payroll and related benefits for dedicated Healthcare Services IT personnel.
(3) For Senior and Life, these costs are primarily comprised of allocations from corporate related to payroll and related benefits for administrative support functions and facilities. Within Healthcare Services, it primarily consists of payroll and related benefit costs for licensed pharmacists and pharmacy technicians performing one-time customer onboarding work for enrollments that do not actually become members.
(4) Represents adjusted EBITDA from SQAH, a non-reportable segment.
(5) Corporate is not an operating segment and consists primarily of unallocated corporate overhead costs, such as payroll and related benefits ($16.3 million), professional services ($3.7 million), and facilities ($1.1 million).
(6) These expenses primarily consist of restructuring severance expenses ($3.8 million).
Three Months Ended September 30, 2025:

(in thousands)SeniorHealthcare ServicesLifeTotal
External revenue$57,297 $221,238 $46,629 $325,164 
Intersegment revenue1,699 113 18 1,830 
Total revenue from reportable segments$58,996 $221,351 $46,647 $326,994 
All other revenue (1)
3,647 
Eliminations of intersegment revenues(1,830)
Total consolidated revenue$328,811 
(1) Represents revenue from SQAH, a non-reportable segment.

(in thousands)SeniorHealthcare ServicesLifeTotal
Total revenue from reportable segments
$58,996 $221,351 $46,647 $326,994 
Less:
Cost of commissions and other services revenue
(41,897)(6,301)(17,979)
Cost of goods sold - pharmacy revenue
— (191,398)— 
Marketing expense (1)
(37,630)(2,389)(22,760)
Technical development (2)
— (438)— 
Selling, general, and administrative (3)
(505)(13,613)(338)
Adjusted Segment EBITDA$(21,036)$7,212 $5,570 $(8,254)
Reconciliation of total segment Adjusted EBITDA
All other Adjusted EBITDA (4)
1,888 
Corporate (5)
(25,713)
Share-based compensation expense(4,327)
Transaction and severance costs (6)
(185)
Depreciation and amortization(4,300)
Change in fair value of warrants15,036 
Interest expense, net(11,808)
Loss before income tax benefit$(37,663)
(1) Primarily consists of direct advertising and lead generation costs across various marketing channels.
(2) Primarily comprised of payroll and related benefits for dedicated Healthcare Services IT personnel.
(3) For Senior and Life, these costs are primarily comprised of allocations from corporate related to payroll and related benefits for administrative support functions and facilities. Within Healthcare Services, it primarily consists of payroll and related benefit costs for licensed pharmacists and pharmacy technicians performing one-time customer onboarding work for enrollments that don’t actually become members.
(4) Represents adjusted EBITDA from SQAH, a non-reportable segment.
(5) Corporate is not an operating segment and consists primarily of unallocated corporate overhead costs, such as payroll and related benefits ($17.8 million), professional services ($4.1 million), and facilities ($1.4 million).
(6) These expenses primarily consist of financing transaction costs ($0.1 million) and non-restructuring severance expenses (less than $0.1 million).
Revenues from each of the reportable segments are earned from transactions in the United States and follow the same accounting policies used for the Company’s condensed consolidated financial statements. All of the Company’s long-lived assets are located in the United States. For the three months ended September 30, 2026, two insurance carrier customers accounted for 44% (UHC), and 11% (Aetna), of total revenue. For the three months ended September 30, 2025, two insurance carrier customers accounted for 44% (UHC), and 11% (Aetna), of total revenue. For all periods presented, the revenue was provided by both the Senior and Healthcare Services segments.