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SelectQuote, Inc. (NYSE:SLQT), a company with a market capitalization of $318 million and annual revenue growth of 20%, announced that on Friday it entered into a Thirteenth Amendment to its existing Credit Agreement, originally dated November 5, 2019. According to a statement in a press release, the amendment extends the termination date of its revolving credit facility from June 30, 2026 to September 30, 2027. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 1.86, suggesting adequate coverage of short-term obligations.
The amendment was made with Ares Capital Corporation, acting as administrative agent, UMB Bank, N.A., as revolver agent, and the group of lenders involved in the agreement. As part of the amendment, each revolving lender received a cash amendment fee equal to 0.10% of the revolving loan commitments held by each lender after the amendment took effect. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels, with 10+ additional ProTips available for subscribers.
No other details regarding changes to the terms of the credit agreement were disclosed in the filing. The company stated that a copy of the Thirteenth Amendment has been filed as an exhibit to the Form 8-K with the Securities and Exchange Commission.
All information is based on a press release statement included in the company’s SEC filing.
In other recent news, SelectQuote reported its Q3 Fiscal 2025 earnings, which revealed an earnings per share (EPS) of $0.03, falling short of the analysts’ forecast of $0.04. The company did experience an 8% year-over-year increase in revenue, despite the earnings miss. Additionally, SelectQuote has expanded its concierge-like service aimed at improving medication adherence for Medicare beneficiaries with chronic conditions. This initiative, trialed by the company’s SelectRx pharmacy, achieved over 90% adherence rates and improved HEDIS Star ratings in key health measures. In a separate development, SelectQuote announced the passing of William Thomas "Tom" Grant II, the Vice Chairman and former President, who played a pivotal role in the company’s strategic growth over the past 15 years. These recent developments reflect ongoing changes and challenges within the company.
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