Hagerty, Inc., an automotive enthusiast brand and specialty vehicle insurance provider, announced financial results for the three months ended March 31, 2025.

“We are off to a solid start to 2025, with first quarter revenue growth of 18%, net income growth of 233%, and Adjusted EBITDA growth of 45%,” said McKeel Hagerty, chief executive officer and chairman of Hagerty. “We expanded our margins and are making substantial technology investments to become even more efficient in how we deliver on our brand promise to members over the coming years.

“Hagerty enjoys the enviable position of operating in an industry that has historically performed well regardless of the economic cycle. Our industry-leading retention delivers visible revenue streams that are augmented by consistently high rates of new member growth thanks to the strength of the Hagerty brand and value proposition. Our strategic priorities enable us to acquire new customers and service existing ones more efficiently than ever, and we are well-positioned for accelerating growth as we move into 2026,” continued Hagerty.

“Our business momentum and first quarter results keep us on track to deliver 12-13% total revenue growth in 2025 as we help car enthusiasts protect, buy and sell, and enjoy their special vehicles. Operating margin expansion should drive even faster rates of bottom-line growth, with net income expected to increase by 30-40% compared to 2024.”