0001726978-22-000029 | 10-K | XBRL Viewer

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Consolidated statements of operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Revenues	$ 151,312	$ 117,014	$ 77,486
Operating Expenses:
Employee compensation and benefits	93,038	66,819	41,715
General and administrative expenses	41,729	25,532	19,042
Bad debts	2,999	1,576	725
Depreciation and amortization	4,873	3,147	1,931
Total operating expenses	142,639	97,074	63,413
Income from operations	8,673	19,940	14,073
Other Income:
Other income	185	90	0
Interest expense	(2,854)	(2,310)	(2,387)
Income before taxes	6,004	17,720	11,686
Tax expense (benefit)	(2,292)	(1,035)	1,304
Net Income	8,296	18,755	10,382
Less: net income attributable to non-controlling interests	2,893	9,468	6,815
Net Income attributable to Goosehead Insurance Inc.	$ 5,403	$ 9,287	$ 3,567
Earnings per share:
Basic (in dollars per share)	$ 0.28	$ 0.55	$ 0.24
Diluted (in dollars per share)	0.26	0.51	0.22
Class A Common Stock
Earnings per share:
Basic (in dollars per share)	0.28	0.55	0.24
Diluted (in dollars per share)	$ 0.26	$ 0.51	$ 0.22
Weighted average shares of Class A common stock outstanding
Basic (in shares)	19,181	16,785	14,864
Diluted (in shares)	20,813	18,383	16,100
Commissions and agency fees
Revenues:
Revenues	$ 82,651	$ 71,811	$ 46,366
Franchise revenues
Revenues:
Revenues	67,508	44,390	30,503
Interest income
Revenues:
Revenues	$ 1,153	$ 813	$ 617

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 28,526	$ 24,913
Restricted cash	1,953	1,323
Commissions and agency fees receivable, net	12,056	18,604
Receivable from franchisees, net	493	2,100
Prepaid expenses	4,785	3,705
Total current assets	47,813	50,645
Receivable from franchisees, net of current portion	29,180	18,179
Property and equipment, net of accumulated depreciation	24,933	16,650
Right-of use asset	32,656	22,513
Intangible assets, net of accumulated amortization	2,798	549
Deferred income taxes, net	125,676	73,363
Other assets	4,742	3,938
Total assets	267,798	185,837
Current Liabilities:
Accounts payable and accrued expenses	10,502	8,101
Premiums payable	1,953	1,323
Lease liability	4,893	3,203
Contract liabilities	6,054	4,233
Note payable	4,375	3,500
Total current liabilities	27,777	20,360
Lease liability, net of current portion	47,335	32,933
Note payable, net of current portion	118,361	79,408
Contract liabilities, net of current portion	42,554	29,968
Liabilities under tax receivable agreement, net of current portion	100,959	61,572
Total liabilities	336,986	224,241
Commitments and contingencies (see notes 9, 15, and 17)
Additional paid in capital	46,281	29,371
Accumulated deficit	(60,671)	(34,614)
Total stockholders' equity and members' deficit	(14,020)	(4,876)
Non-controlling interests	(55,168)	(33,528)
Total equity	(69,188)	(38,404)
Total liabilities and equity	267,798	185,837
Class A Common Stock
Current Liabilities:
Common stock	200	183
Class B Common Stock
Current Liabilities:
Common stock	$ 170	$ 184

Consolidated balance sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Class A Common Stock
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	300,000,000	300,000,000
Common stock shares issued (in shares)	20,198,005	18,303,649
Common stock shares outstanding (in shares)	20,198,005	18,303,649
Class B Common Stock
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	50,000,000	50,000,000
Common stock shares issued (in shares)	16,909,343	18,446,689
Common stock shares outstanding (in shares)	16,909,343	18,446,689

Consolidated statement of stockholders' equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A Common Stock	Class B Common Stock	Total stockholders' equity	Total stockholders' equity Cumulative Effect, Period of Adoption, Adjustment	Common stock Class A Common Stock	Common stock Class B Common Stock	Additional paid in capital	Accumulated deficit	Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment	Non-controlling interest	Non-controlling interest Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Dec. 31, 2018							13,799	22,486
Beginning balance at Dec. 31, 2018	$ (25,203)	$ (1,358)			$ (8,500)	$ (517)	$ 138	$ 224	$ 11,899	$ (20,761)	$ (517)	$ (16,703)	$ (841)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions	(3,739)											(3,739)
Dividends declared	(15,000)				(5,962)					(5,962)		(9,038)
Net income	$ 10,382				3,567					3,567		6,815
Exercise of stock options (in shares)	0
Equity-based compensation	$ 1,526				1,526				1,526
Activity under employee stock purchase plan (in shares)							8
Activity under employee stock purchase plan	325				325				325
Redemption of LLC Units (in shares)							(1,431)	(1,431)
Redemption of LLC Units	0				(1,368)		$ 14	$ (14)	(1,368)			1,368
Deferred tax adjustments related to Tax Receivable Agreement	2,060				2,060				2,060
Reallocation of Non-controlling interest	0				(138)					(138)		138
Ending balance (in shares) at Dec. 31, 2019							15,238	21,055
Ending balance at Dec. 31, 2019	(31,007)				(9,007)		$ 152	$ 210	14,442	(23,811)		(22,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions	(2,697)											(2,697)
Dividends declared	(42,000)				(19,895)					(19,895)		(22,105)
Net income	$ 18,755				9,287					9,287		9,468
Exercise of stock options (in shares)	450						450
Exercise of stock options	$ 4,498				4,498		$ 5		4,493
Equity-based compensation	4,745				4,745				4,745
Activity under employee stock purchase plan (in shares)							8
Activity under employee stock purchase plan	542				542				542
Redemption of LLC Units (in shares)			(2,600)	(2,600)			(2,608)	(2,608)
Redemption of LLC Units	0				(3,525)		$ 26	$ (26)	(3,525)			3,525
Deferred tax adjustments related to Tax Receivable Agreement	8,760				8,674				8,674			86
Reallocation of Non-controlling interest	0				(195)					(195)		195
Ending balance (in shares) at Dec. 31, 2020							18,304	18,447
Ending balance at Dec. 31, 2020	(38,404)				(4,876)		$ 183	$ 184	29,371	(34,614)		(33,528)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(60,000)				(31,657)					(31,657)		(28,343)
Net income	$ 8,296				5,403					5,403		2,893
Exercise of stock options (in shares)	351						349
Exercise of stock options	$ 3,795				3,795		$ 3		3,792
Equity-based compensation	7,292				7,292				7,292
Activity under employee stock purchase plan (in shares)							7
Activity under employee stock purchase plan	796				796				796
Redemption of LLC Units (in shares)			(1,500)	(1,500)			(1,538)	(1,538)
Redemption of LLC Units	0				(3,728)		$ 14	$ (14)	(3,728)			3,728
Deferred tax adjustments related to Tax Receivable Agreement	9,037				8,758				8,758			279
Reallocation of Non-controlling interest	0				197					197		(197)
Ending balance (in shares) at Dec. 31, 2021							20,198	16,909
Ending balance at Dec. 31, 2021	$ (69,188)				$ (14,020)		$ 200	$ 170	$ 46,281	$ (60,671)		$ (55,168)

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 8,296	$ 18,755	$ 10,382
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,117	3,570	2,145
Bad debt expense	2,999	1,576	725
Equity based compensation	7,292	4,745	1,526
Impact of tax receivable agreement	40,759	48,760	11,676
Deferred income taxes	(43,277)	(49,066)	(11,382)
Noncash lease expense	5,949	13,623	0
Changes in operating assets and liabilities:
Receivable from franchisees	(10,599)	(7,085)	(5,161)
Commissions and agency fees receivable	4,722	(12,909)	2,474
Prepaid expenses	(1,080)	(1,718)	(877)
Other assets	(805)	(2,581)	(346)
Accounts payable and accrued expenses	2,956	2,541	913
Deferred rent	0	(7,365)	2,389
Contract liabilities	14,407	11,406	6,281
Premiums payable	629	400	547
Unearned revenue	0	0	(51)
Payments pursuant to the tax receivable agreement	(1,921)	(9)	0
Net cash provided by operating activities	35,444	24,643	21,241
Cash flows from investing activities:
Proceeds from notes receivable	32	35	19
Purchase of software	(2,669)	(393)	(403)
Purchase of property and equipment	(12,738)	(9,975)	(3,694)
Net cash used for investing activities	(15,375)	(10,333)	(4,078)
Cash flows from financing activities:
Debt issuance cost	(666)	(677)	0
Repayment of note payable	(4,369)	(27,821)	(2,500)
Proceeds from notes payable	44,619	64,821	0
Proceeds from the issuance of Class A common stock	4,590	5,040	325
Member distributions and dividends to stockholders	(60,000)	(44,697)	(18,739)
Net cash used for financing activities	(15,826)	(3,334)	(20,914)
Net increase (decrease) in cash and cash equivalents, and restricted cash	4,243	10,976	(3,751)
Cash and cash equivalents, and restricted cash, beginning of period	26,236	15,260	19,011
Cash and cash equivalents, and restricted cash, end of period	30,479	26,236	15,260
Supplemental disclosure of cash flow data:
Cash paid during the year for interest	2,351	1,887	2,173
Cash paid for income taxes	$ 272	$ 270	$ 1,175

Organization	12 Months Ended
Organization	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization On May 1, 2018 Goosehead Insurance, Inc. ("GSHD") completed the Offering of 9,810 thousand shares of Class A common stock at a price of $10.00 per share, which included 1,280 thousand shares issued pursuant to the underwriter's over-allotment option. GSHD became the sole managing member of Goosehead Financial, LLC (“GF”). GF was organized on January 1, 2016 as a Delaware Limited Liability Company and is headquartered in Westlake, TX. The operations of GF represent the predecessor to GSHD prior to the Offering, and the consolidated entities of GF are described in more detail below. Information for any periods prior to May 1, 2018 relates to GF and its subsidiaries and affiliates. GSHD (collectively with its consolidated subsidiaries, the “Company”) provides personal and commercial property and casualty insurance brokerage services for its clients through a network of corporate-owned agencies and franchise units across the nation. The operations of the corporate-owned units are recorded in Texas Wasatch Insurance Services, L.P. (“TWIS”)—a Texas limited partnership headquartered in Westlake, TX and operating since 2003. TWIS is a wholly owned subsidiary of GF. The Company had fifteen corporate-owned locations in operation at December 31, 2021, nine at December 31 2020, and seven at 2019. The operations of the franchise units are recorded in Goosehead Insurance Agency, LLC (“GIA”)—a Delaware limited liability company headquartered in Westlake, TX and operating since 2011. GIA is 100% owned by Goosehead Insurance Holdings ("GIH"), which is 100% owned by GF. Franchisees are provided access to insurance Carrier Appointments, product training, technology infrastructure, client service centers and back office services. During years ended December 31, 2021, 2020, and 2019, the Company onboarded 405, 337, and 247 franchise locations, respectively and had 1,198, 891, and 614 operating franchise locations as of December 31, 2021, 2020 and 2019 respectively. No franchises were purchased by the Company during the years ended December 31, 2021, 2020, and 2019. In connection with the Offering, both Goosehead Management, LLC (“GM”) and Texas Wasatch Insurance Holdings Group LLC (“TWIHG”) became wholly owned indirect subsidiaries of GF. Both GM and TWIHG are non-operating holding companies created to receive management fees from the operating entities TWIS and GIA. Reorganization Transactions In connection with the Offering, the Company completed the following transactions (the "Reorganization Transactions"): •The GF limited liability company agreement was amended to, among other things, i) appoint GSHD as the sole managing member of GF and ii) modify the capital structure of GF by reclassifying the interests previously held by Pre-IPO LLC Members into a single new class of non-voting LLC Units. •GSHD was authorized to issue two classes of common stock. 9,810 thousand shares of Class A common stock were issued pursuant to the Offering, including the underwriters' over-allotment option. 22,747 thousand shares of Class B common stock were issued to the Pre-IPO LLC Members in an amount equal to the number of LLC Units held by each such Pre-IPO LLC Member in exchange for certain management rights of GF. Each share of Class A common stock and Class B common stock entitles its holder to one vote per share on all matters submitted to a vote of GSHD's stockholders. Each share of Class B common stock can be exchanged for one share of Class A common stock or, at GSHD's discretion, a cash payment equal to the volume weighted average market price of one share of Class A common stock, thus canceling the share of Class B common stock on a one-for-one basis. •The Goosehead Management Holders and Texas Wasatch Holders indirectly transferred their ownership interests in GM and TWIHG, respectively, to GSHD in exchange for the Goosehead Management Note and Texas Wasatch Note. The aggregate principal amount of the Goosehead Management Note and the Texas Wasatch Note was approximately $114 million. Because the net proceeds from the Offering were insufficient to repay the aggregate principal amount of the notes, 3,724 thousand shares of Class A common stock were issued to the Goosehead Management Holders and the Texas Wasatch Holders for the difference. GSHD contributed direct and indirect ownership interests in each of TWIHG and GM to GF. Following completion of the Reorganization Transactions and the Offering, GSHD owned 37.3% of GF and the Pre-IPO LLC Members owned the remaining 62.7%. GSHD is the sole managing member of GF and, although GSHD holds a minority economic interest in GF, GSHD has the sole voting power and control of management of GF. Accordingly, GSHD consolidates the financial results of GF and reports non-controlling interest in GSHD's consolidated financial statements.

Basis of presentation and significant accounting policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of presentation and significant accounting policies

Basis of Presentation

The accompanying audited consolidated financial statements of GSHD and our subsidiaries are presented in accordance with the rules and regulations of the SEC for annual reports on Form 10-K and are prepared in accordance with U.S. GAAP. All intercompany accounts and transactions have been eliminated in consolidation.

Impact of the coronavirus (“COVID-19”) pandemic

To date, the pandemic has not increased our costs of or access to capital under our term note and revolving credit facility, and we do not believe it is reasonably likely to do so in the future. In addition, we do not believe that the pandemic will affect our ongoing ability to meet the covenants in our debt instruments, including under our term note and revolving credit facility. To date, the pandemic has not impacted the collectability of receivables or adversely affected our ability to generate new business, add new franchises, or retain existing franchises or policies.Changes in consumer behavior linked to the COVID-19 pandemic may have contributed to reduced loss ratios through the twelve months ended December 31, 2020, increasing the amount of revenue from Contingent Commissions the Company received. Due to the nature of our business, the effect of the COVID-19 pandemic may not be fully reflected in our results of operations until future periods.

Significant accounting policies

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reported period. Accordingly, actual results could differ from those estimates as more information becomes known.

Cash and cash equivalents

The Company maintains its cash in bank deposit accounts that, at times, may exceed federally insured limits; however, the Company has not historically experienced any losses in these accounts. The Company believes it is not exposed to any significant credit risk. The Company currently holds no financial instruments that would be considered cash equivalents.

Restricted cash

The Company holds premiums received from the insured, but not yet remitted to the insurance carrier in a fiduciary capacity. Premiums received but not yet remitted included in restricted cash were $2.0 million and $1.3 million as of December 31, 2021 and 2020, respectively.

The following is a reconciliation of our cash and restricted cash balances as presented in the consolidated statement of cash flows for the years ended December 31, 2021, 2020, and 2019 (in thousands):


	December 31, 2021
	2021		2020		2019
Cash and cash equivalents	$	28,526	$	24,913	$	14,337
Restricted cash	1,953		1,323		923
Cash and cash equivalents, and restricted cash	$	30,479	$	26,236	$	15,260

Commissions and agency fees receivable

Upon issuance of a new policy, the Company typically collects the first premium payment from the insured, and then will remit the full premium amount to the insurance carriers. The insurance carriers collect the remaining premiums directly from the insureds and remit the applicable commissions to the Company. Accordingly, as reported in the accompanying consolidated balance sheet, commissions are receivables from the insurance carriers. These direct-bill arrangements consist of a high volume of transactions with small premium amounts, with the billing controlled by the insurance carriers. The income statement and balance sheet effects of the commissions are recorded at the contract effective date and generally are based on a percentage of premiums for insurance coverage. During 2021, the Company wrote with over 145 insurance carriers, of which 53 provided national coverage. In 2021, two carriers represented more than 10% of total revenue at 17% and 11%. In 2020, three carriers represented more than 10% of total revenue at 20%, 13%, and 12%. In 2019, two carriers represented more than 10% of total revenue at 16% and 10%.

In select states, agents have the option to charge an agency fee for the placement of the insurance policy. These non-refundable fees are recorded as receivable on the date the policy is effective with the insurance carrier.

Allowance for uncollectible agency fees

The Company records agency fees receivable net of an allowance for estimated uncollectible accounts to reflect any loss anticipated for the related agency fees receivable balances and charge to bad debts. The agency fees receivable balance consists of numerous small-balance, homogeneous accounts. The Company calculates the allowance based on collection history and writes off all uncollected agency fee balances outstanding over ninety days.

Receivable from franchisees

Receivable from franchisees consists of franchise fees receivable, net of allowance for uncollectible franchise fees and unamortized discount on franchise fees, royalty fees receivable, and notes receivable from franchisees.

Franchise fees receivable

At the start date of the franchise agreement, an entry to franchise fees receivable is recorded along with an entry for a contract liability, to be amortized to franchise fees within Franchise revenues over the 10-year life of the franchise contract. Franchisees have the option to pay the full amount of franchise fees up front or to pay a deposit up front and the remaining balance by payment plan over time. The franchisees that elect to pay the initial franchise fee over a term extending greater than one year pay in total an amount that exceeds the amount due had they paid the full amount up front. As such, the payment plan option is treated as a zero-interest rate note, which creates an imputation of interest. The imputed interest is recorded as a discount on the franchise fee receivable and amortized using the effective interest rate method over the life of the payment plan. The amount of interest recorded in 2021, 2020, and 2019 related to franchise fees on a payment plan was $1.1 million, $0.8 million, and $0.6 million, respectively, and is included in Interest income.

Allowance for uncollectible franchise fees receivable

The Company records franchise fees receivable net of an allowance for estimated uncollectible accounts to reflect any loss anticipated related to the franchise fees receivable balances and charged to bad debts. The franchise fees receivable balance consists of numerous small-balance, homogeneous accounts. The Company calculates the allowance based on our history of write offs for all franchise accounts. Franchise fees receivable and the related allowance is charged off to bad debts if the franchisee owing the balance terminates.

Royalty fees receivable

Royalty fees are recorded at the point in time when the policy becomes effective with the insurance carrier. The royalty fees are secured by the commissions of the franchisee with no historical losses incurred for uncollectible royalty fees. As such, there is no allowance for doubtful accounts relating to royalty fees.

Revenue recognition

The adoption of ASC 606 on January 1, 2019 has increased the significance of judgments and estimates management must make to apply the guidance. In particular, judgments related to the amount of variable revenue consideration to ultimately be received on commission revenue, royalty fees, and contingent commissions, which were previously recognized when the Company received notification from the insurance carrier, now require

significant judgments and estimates. The Company adjusts its estimates of revenue recognized for commissions and royalty fees based on cash collections during the terms of the policies.

Under the new standard, certain costs to obtain or fulfill a contract that were previously expensed as incurred have been capitalized. The Company capitalizes the incremental costs to obtain contracts primarily related to commission payments. These deferred costs are amortized over the expected life of the underlying franchise fee, and are included in Other assets in the Company's consolidated balance sheet as of December 31, 2021.

Property & equipment

The Company carries fixed assets at cost, less accumulated depreciation, as stated in the accompanying consolidated balance sheets. Depreciation of property and equipment is calculated using the straight-line method over the estimated useful life of five years for furniture, fixtures and equipment and three years for computer equipment. Leasehold improvements are also amortized using the straight-line method and are amortized over the shorter of the remaining term of the lease or the useful life of the improvement. Expenditures for improvements are capitalized, and expenditures for maintenance and repairs are expensed as incurred. Upon sale or retirement, the cost and related accumulated depreciation and amortization is removed from the related accounts, and the resulting gain or loss, if any, is reflected in income.

Intangible assets

Intangible assets are stated at cost less accumulated amortization and reflect amounts paid for the Company’s web domain and computer software costs. The web domain is amortized over a useful life of fifteen years and software costs are amortized over a useful life of three years.

Premiums payable

Premiums payable represent premium payments that have been received from insureds, but not yet remitted to the insurance carriers.

Deferred financing costs

Deferred financing costs incurred in connection with the issuance of debt are capitalized and amortized to interest expense in accordance with the related debt agreements. Deferred financing costs are included as a reduction in notes payable on the accompanying consolidated balance sheets.

Lease Accounting

The primary leased asset class of the Company is real estate. For leases with an original term longer than one year, lease liabilities are initially recognized on the lease commencement date based on the present value of the future minimum lease payments over the lease term, including non-lease components such as fixed common area maintenance costs and other fixed costs for generally all leases. A corresponding right of use ("ROU") asset is initially recognized equal to the lease liability adjusted for any lease prepayments, initial direct costs and lease incentives and amortized into rent expense, which is mapped to general and administrative expenses in the consolidated statements of operations.

The discount rates used in determining the present value of leases represent our collateralized borrowing rate considering each lease's term. The lease term includes options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Certain leases have renewal options that can be exercised at the discretion of the Company. Rent expense is generally recognized on a straight-line basis over the lease term and included in General and administrative expenses in the Consolidated Statement of Operations. See Note 15 for further information.

Deferred Rent

Deferred rent consists of rent abatement affecting the timing of cash rent payments related to the Company’s corporate office leases, as well as lease incentives such as construction allowances. In 2019, deferred rent was record as a liability and amortized over the lease term as a reduction to rent expense. In 2020, upon the adoption of ASC 842, the entire cumulative deferred rent balance under ASC 840 was treated as an adjustment to the ROU balance.

Income Taxes

Prior to the Offering, GF was treated as a partnership for U.S. federal and applicable state and local income tax purposes. As a partnership, GF's taxable income or loss was included in the taxable income of its members.

Accordingly, no income tax expense was recorded for federal and state and local jurisdictions for periods prior to the Offering.

In connection with the Offering completed on May 1, 2018, the Company became a taxable entity.

The Company accounts for income taxes pursuant to the asset and liability method which requires the recognition of deferred income tax assets and liabilities related to the expected future tax consequences arising from temporary differences between the carrying amounts and tax bases of assets and liabilities based on enacted statutory tax rates applicable to the periods in which the temporary differences are expected to reverse. Any effects of changes in income tax rates or laws are included in income tax expense in the period of enactment.

Advertising

The Company expenses advertising costs as they are incurred. Advertising expense for the years ended December 31, 2021, 2020, and 2019 was $1.3 million, $0.9 million, and $0.8 million.

Recently adopted accounting pronouncements

Simplifying the Accounting for Income Taxes (ASU 2019-12): In 2019, the Financial Accounting Standards Board issued ASU 2019-12 to simplify the accounting for income taxes. The guidance primarily addresses how to (1) recognize a deferred tax liability after we transition to or from the equity method of accounting, (2) evaluate if a step-up in the tax basis of goodwill is related to a business combination or is a separate transaction, (3) recognize all of the effects of a change in tax law in the period of enactment, including adjusting the estimated annual tax rate, and (4) include the amount of tax based on income in the income tax provision and any incremental amount as a tax not based on income for hybrid tax regimes. We adopted the guidance in the first quarter of 2021. The adoption did not have a material impact on our consolidated financial statements or related disclosures.

Reference Rate Reform (ASU 2020-04): In March 2020, the Financial Accounting Standards Board issued ASU 2020-04. Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP if certain criteria are met to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022. A substantial portion of our indebtedness bears interest at variable interest rates, primarily based on USD-LIBOR. The adoption of ASU 2020-04 did not have a material impact on our consolidated financial statements. The standard will ease, if warranted, the administrative requirements for accounting for the future effects of the rate reform. Our debt agreement contains a provision to move to the Secured Overnight Financing Rate ("SOFR") if or when LIBOR is phased out.

Leases (ASU 2016-02): ASU 2016-02 amended the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new guidance also required additional disclosures about leases. The Company adopted the requirements of the new standard as of the first day of 2020 using the modified retrospective approach, without restating comparative periods. As part of our adoption, we elected the package of practical expedients, as well as the hindsight practical expedient, permitted under the new guidance, which, among other things, allowed the Company to continue utilizing historical classification of leases. For those leases that fall under the definition of a short-term lease, the Company elected the short-term lease recognition exemption. The adoption of the new standard resulted in the recording of a right-of-use asset of $11.2 million and lease liabilities of $18.5 million, and had no impact on retained earnings as of the beginning of 2020. The standard did not materially impact our Consolidated Statements of Operations and had no impact on cash flows.

Credit Losses (ASU 2016-13):Under the new guidance an entity is required to measure all credit losses on certain financial instruments, including trade receivables and various off-balance sheet credit exposures, using an expected credit loss model. This model incorporates past experience, current conditions and reasonable and supportable forecasts affecting collectability of these instruments. The Company adopted the requirements of the new standard as of the first day of 2020, however, the adoption of the amendment did not have a material effect on our consolidated financial statements or on our disclosures

Revenues

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenues

Commissions and agency fees

The Company earns new and renewal commissions paid by insurance Carriers and fees paid by its clients for the binding of insurance coverage. The transaction price is set as the estimated commissions to be received over the term of the policy based on an estimate of premiums placed, policy changes and cancellations, net of a constraint.

These commissions and fees are earned at a point in time upon the effective date of bound insurance coverage, as no performance obligation exists after coverage is bound.

Commissions from insurance carriers, net of estimated policy changes and cancellations, are recognized as revenue at the effective date of the policy. Significant factors in determining our estimates of policy changes and cancellations include forecasted commissions revenue, which is estimated based on historical experience and assumptions concerning future customer behavior and market conditions. Subsequent adjustments to estimated policy changes and cancellations are possible as facts and circumstances change over time. These commission revenues are now generally recognized earlier than they had been previously.

For Agency Fees, the Company enters into a contract with the insured, in which the Company's performance obligation is to place an insurance policy. The transaction price of the agency fee is set at the time the sale is agreed upon, and is included in the contract. Agency Fee revenue is recognized at a point in time, which is the effective date of the policy.

Contingent commission revenue is generated from contracts between the Company and insurance carriers, for which the Company is compensated for certain growth, profitability, or other performance-based metrics. The performance obligations for contingent commissions will vary by contract, but generally include the Company increasing profitable written premium with the insurance carrier. The transaction price for Contingent Commissions is estimated based on all available information and is recognized over time as the Company completes its performance obligations, net of constraint, as the underlying policies are placed.

The Company must estimate the amount of consideration that will be received such that a significant reversal of revenue is not probable. Contingent commissions represent a form of variable consideration associated with the placement and profitability of coverage, for which we earn commissions. In connection with Topic 606, contingent commissions are estimated with a constraint applied and accrued relative to the recognition of the corresponding core commissions for the period over which the contract applies. The resulting effect on the timing of recognizing contingent commissions will now more closely follow a similar pattern as our commissions and fees with any adjustments recognized when payments are received or as additional information that affects the estimate becomes available.

Franchise revenues

Franchise revenues include initial franchise fees and ongoing new and renewal royalty fees from franchisees.

Revenue from Initial Franchise Fees is generated from a contract between the Company and a franchisee. The Company's performance obligation is to provide initial training, onboarding, ongoing support and use of the Company's business operations over the period of the franchise agreement. The transaction price is set by the franchise agreement and revenue is recognized over time as the Company completes its performance obligations.

Initial franchise fees are recognized as revenue over the 10-year life of the franchise contract, beginning on the start date of the contract.

Revenue from New and Renewal Royalty Fees is recorded by applying the sales- and usage-based royalties exception. Under the sales- and usage-based exception, the Company estimates the anticipated amount of the royalties to be received over the term of the policy based on an estimate of premiums placed by the franchisee, policy changes, and cancellations, net of a constraint. Revenue from Royalty Fees is recognized over time as the placement of the underlying policies occur.

Royalty fees are recognized over time as the underlying policies are placed, which is on the effective date of the policies. Recognition of royalty fees generally takes place earlier under Topic 606.

Contract Costs

Additionally, the Company has evaluated ASC Topic 340 - Other Assets and Deferred Cost (“ASC 340”) which requires companies to defer certain incremental cost to obtain customer contracts, and certain costs to fulfill customer contracts.

Incremental cost to obtain - The adoption of ASC 340 resulted in the Company deferring certain costs to obtain customer contracts primarily as they relate to commission-based compensation plans in the Franchise Channel, in which the Company pays an incremental amount of compensation on new franchise agreements. These incremental costs are deferred and amortized over a 10-year period, which is consistent with the term of the contract. The balance of cost to obtain is included with Other assets on the Consolidated Balance Sheets.

Costs to fulfill - The Company has evaluated the need to capitalize costs to fulfill customer contracts and has determined that there are no costs that meet the definition for capitalization under ASC 340.

Disaggregation of Revenue

The following tables disaggregates revenue by segment and source (in thousands):


Year Ended December 31, 2021	Franchise Channel		Corporate Channel		Total
Type of revenue stream:
Commissions and agency fees
Renewal Commissions	$	—	$	39,111	$	39,111
New Business Commissions	—		22,108		22,108
Agency Fees	—		11,506		11,506
Contingent Commissions	7,378		2,548		9,926
Franchise revenues
Renewal Royalty Fees	46,079		—		46,079
New Business Royalty Fees	14,616		—		14,616
Initial Franchise Fees	6,516		—		6,516
Other Franchise Revenues	297		—		297
Interest Income	1,153		—		1,153
Total Revenues	$	76,039	$	75,273	$	151,312

Timing of revenue recognition:
Transferred at a point in time	$	—	$	72,725	$	72,725
Transferred over time	76,039		2,548		78,587
Total Revenues	$	76,039	$	75,273	$	151,312


Year Ended December 31, 2020:	Franchise Channel		Corporate Channel		Total
Type of revenue stream:
Commissions and agency fees
Renewal Commissions	$	—	$	28,891	$	28,891
New Business Commissions	—		17,324		17,324
Agency Fees	—		8,921		8,921
Contingent Commissions	10,754		5,921		16,675
Franchise revenues					—
Renewal Royalty Fees	29,309		—		29,309
New Business Royalty Fees	10,623		—		10,623
Initial Franchise Fees	4,236		—		4,236
Other Franchise Revenues	222		—		222
Interest Income	813		—		813
Total Revenues	$	55,957	$	61,057	$	117,014

Timing of revenue recognition:
Transferred at a point in time	$	—	$	55,136	$	55,136
Transferred over time	55,957		5,921		61,878
Total Revenues	$	55,957	$	61,057	$	117,014

Contract Balances

The following table provides information about receivables, cost to obtain, and contract liabilities from contracts with customers (in thousands):


	December 31, 2021		December 31, 2020		Increase/(decrease)
Cost to obtain franchise contracts(1)	$	1,973	$	1,412	$	561
Commissions and agency fees receivable, net(2)	12,056		18,604		(6,548)
Receivable from franchisees, net(2)	29,673		20,279		9,394
Contract liabilities(2)(3)	48,608		34,201		14,407

(1) Cost to obtain franchise contracts is included in Other assets on the consolidated balance sheets.

(2) Includes both the current and long term portion of this balance.

(3) Initial Franchise Fees to be recognized over the life of the contract

Significant changes in contract liabilities are as follows (in thousands):


	December 31, 2021		December 31, 2020
Contract liability at beginning of period	$	34,201	$	22,795
Revenue recognized during the period	(6,516)		(4,236)
New deferrals(1)	20,923		15,642
Contract liability at end of period	$	48,608	$	34,201

(1) Initial franchise fees where the consideration is received from the customer for services which are to be transferred to the franchisee over the term of the franchise agreement

Anticipated Future Recognition of Deferred Initial Franchise Fees

The following table reflects the estimated initial franchise fees (contract liability) to be recognized in the future related to performance obligations that are unsatisfied at the end of the period (in thousands):


Estimate for the year ended December 31:
2022	$	6,054
2023	5,969
2024	5,904
2025	5,767
2026	5,629
Thereafter	19,285
	$	48,608

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

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+ Details

Franchise fees receivable

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Franchise fees receivable

The balance of Franchise fees receivable included in receivable from franchisees in the consolidated balance sheets consisted of the following (in thousands):


	December 31
	2021		2020
Franchise fees receivable	$	40,171	$	25,757
Less: Unamortized discount	(9,518)		(6,553)
Less: Allowance for uncollectible franchise fees	(303)		(149)
Total franchise fees receivable	$	30,350	$	19,055

Activity in the allowance for uncollectible franchise fees was as follows (in thousands):


Allowance for Uncollectible Franchise Fees:
Balance at December 31, 2019	$	52
Charges to bad debts	387
Write offs	(290)
Balance at December 31, 2020	149
Charges to bad debts	1,173
Write offs	(1,019)
Balance at December 31, 2021	$	303

Allowance for uncollectible agency fees

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Allowance for uncollectible agency fees

Activity in the allowance for uncollectible agency fees was as follows (in thousands):


Allowance for Uncollectible Agency Fees:
Balance at December 31, 2019	$	178
Charges to bad debts	1,189
Write offs	(899)
Balance at December 31, 2020	$	468
Charges to bad debts	1,826
Write offs	(1,805)
Balance at December 31, 2021	$	489

Property and equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment consisted of the following at (in thousands):


	December 31,
	2021		2020
Furniture & fixtures	$	7,283	$	4,404
Computer equipment	3,369		2,453
Network equipment	514		352
Phone system	937		937
Leasehold improvements	25,115		16,534
Total	37,218		24,680
Less accumulated depreciation	(12,285)		(8,030)
Property and equipment, net	$	24,933	$	16,650

Depreciation expense was $4.5 million, $2.9 million, and $1.7 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Intangible assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets consisted of the following (in thousands):


	December 31,				Weighted average amortization period (years)
	2021		2020
Computer software & web domain	$	4,168	$	1,473	3.01
Less accumulated amortization	(1,370)		(924)
Intangible assets, net	$	2,798	$	549

Amortization expense was $0.4 million, $0.3 million, and $0.2 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Expected amortization over the next five years is as follows:


	Amount
Year Ending December 31,
2022	$	577
2023	969
2024	739
2025	512
2026 and thereafter	1
Total	$	2,798

Employee benefit obligation	12 Months Ended
Employee benefit obligation	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee benefit obligation	Employee benefit obligation The Company has adopted a qualified deferred compensation plan under section 401(k) of the Internal Revenue Code. Full-time employees over the age of 21 with six months of service are eligible to participate. Under the plan, the Company’s contribution is based on a discretionary matching of 100% of salary deferral elected by each eligible employee up to a maximum of 3% of compensation. The Company’s matching portion vests over a four-year period, after which time the employee becomes fully vested and all future contributions will vest immediately. Matching contributions may be changed at the discretion of the Company. Company contributions totaled $1.0 million, $0.8 million, and $0.6 million for the years ended December 31, 2021, 2020, and 2019.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt

On July 21, 2021, the Company refinanced its $25.0 million revolving credit facility and $80.0 million term note payable to a $50.0 million revolving credit facility and $100.0 million term note payable in order to obtain a more favorable interest rate on the outstanding debt. The Company has the right, subject to approval by the administrative agent and each issuing bank, to increase the commitments under the credit facilities an additional $25.0 million.

The $50.0 million revolving credit facility accrues interest on amounts drawn at an initial interest rate of LIBOR plus 2.50%, then at an interest rate determined by the Company's leverage ratio for the preceding period. At December 31, 2021, the Company had $25.0 million drawn against the revolver. At December 31, 2021, the Company had a letter of credit of $167 thousand applied against the maximum borrowing availability, thus amounts available to draw totaled $24.8 million. The revolving credit facility is collateralized by substantially all the Company’s assets, which includes rights to future commissions. Interest payment on the revolving credit facility totaled $0.4 million, $0.1 million, and $0.5 million for the years ended December 31, 2021, 2020, and 2019, respectively.

The $100.0 million term note accrues interest at an initial interest rate of LIBOR plus 2.50%, then at an interest rate determined by the Company's leverage ratio for the preceding period. As of December 31, 2021, the Company was in the greater than 3.50x leverage ratio tranche, accruing interest of LIBOR plus 2.50%. The aggregate principal amount of the term note as of December 31, 2021 is $98.8 million, payable in quarterly installments of $0.6 million for the first twelve months, $1.3 million for the next twelve months, $1.9 million for the next twelve months, and $2.5 million for the last twelve months, with a balloon payment on June 21, 2026.The term note is collateralized by substantially all the Company’s assets, which includes rights to future commissions.

The interest rate for each leverage ratio tier are as follows:


Leverage Ratio			Interest Rate
< 1.50x			LIBOR + 175 bps
> 1.50x			LIBOR + 200 bps
> 2.50x			LIBOR + 225 bps
> 3.50x			LIBOR + 250 bps

Maturities of the term note payable for the next five calendar years as of December 31, 2021 are as follows (in thousands):


	Amount
2022	$	4,375
2023	6,875
2024	9,375
2025	10,000
2026	68,125
Total	$	98,750

The $25.0 million drawn against the revolver is coterminous with the term loan and is due in full on June 21, 2026.

Loan origination fees of $1.0 million at December 31, 2021 are reflected as a reduction to the note balance and are amortized through interest expense.

The Company’s note payable agreement contains certain restrictions and covenants. Under these restrictions, the Company is limited in the amount of debt incurred and distributions payable. In addition, the credit agreement contains certain change of control provisions that, if broken, would trigger a default. Finally, the Company must maintain certain financial ratios. As of December 31, 2021, the Company was in compliance with these covenants.

Because of both instruments’ origination date and variable interest rate, the note payable balance at December 31, 2021 and December 31, 2020, approximates fair value using Level 2 inputs, described below.

The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active

markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are described as follows:

•Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets.

•Level 2—Significant other observable inputs other than Level 1 prices such as quoted prices in markets that are not active, quoted prices for similar assets or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset.

•Level 3—Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Income taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income taxes

As a result of the Reorganization Transactions and the Offering, GSHD became the sole managing member of GF, which is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, GF is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by GF is passed through to and included in the taxable income or loss of its members, including GSHD, on a pro rata basis. GSHD is subject to U.S. federal income taxes, in addition to state and local income taxes, with respect to GSHD's allocable share of income of GF.

Income tax expense

The components of income tax expense are as follows (in thousands):


	Year Ended December 31
	2021		2020		2019
Current income taxes
Federal	$	—	$	(1,719)	$	735
State and local	226		373		283
Total current income taxes	226		(1,346)		1,018
Deferred income taxes
Federal	(4,316)		217		260
State and local	1,798		94		26
Total deferred income taxes	(2,518)		311		286
Income tax expense (benefit)	$	(2,292)	$	(1,035)	$	1,304

A reconciliation of income tax expense computed at the U.S. federal statutory income tax rate to the income tax expense recognized is as follows (in thousands):


	Year Ended December 31
	2021		2020		2019


Income before taxes	$	6,004	$	17,720	$	11,686

Income taxes at U.S. federal statutory rate	1,261		3,720		2,454
Tax on income not subject to entity level federal income tax	(617)		(2,264)		(1,453)
Permanent Differences:

Non-deductible stock compensation costs	(4,530)		(3,004)		—

Non-deductible employee moving expenses	6		1		—
Meals & Entertainment	25		47		61

State income tax, net of federal benefit	1,553		524		236
Other Reconciling items:
Other	10		(59)		6
Income tax expense (benefit)	$	(2,292)	$	(1,035)	$	1,304

Deferred tax assets and liabilities

The components of deferred tax assets are as follows (in thousands):


	December 31, 2021		December 31, 2020
Net operating loss carryforwards	$	8,929	$	703
Investment in flow-through entity	116,747		72,660
Net deferred tax asset	$	125,676	$	73,363

GSHD has income tax net operating loss carryforwards for federal and state purposes of $40.2 million and $5.5 million (post apportionment pre-tax), respectively. The federal net operating loss carryforwards are carried forward indefinitely and the state net operating loss carryforwards begin to expire in 2041.

Uncertain tax positions

GSHD has determined there are no material uncertain tax positions as of December 31, 2021.

Tax Receivable Agreement

GF has made an election under Section 754 of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”) effective for each taxable year in which a redemption or exchange of LLC Units and corresponding Class B common stock for shares of Class A common stock occurs. Prior redemptions and exchanges have resulted, and future redemptions or exchanges are expected to result in tax basis adjustments to the assets of GF that will be allocated to the Company and thus produce favorable tax attributes. These tax attributes would not be available to us in the absence of those transactions. These tax basis adjustments have reduced the amount of tax we are required to pay, and are expected to reduce the amount of tax that GSHD would otherwise be required to pay in the future.

GSHD entered into a tax receivable agreement with the Pre-IPO LLC Members on May 1, 2018 that provides for the payment by GSHD to the Pre-IPO LLC Members of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that GSHD actually realizes as a result of (i) any increase in tax basis in GSHD's assets and (ii) tax benefits related to imputed interest deemed arising as a result of payments made under the tax receivable agreement.

During the years ended December 31, 2021, 2020 and 2019, an aggregate of 1.5 million, 2.6 million and 1.4 million LLC Units, respectively, were redeemed by the Pre-IPO LLC Members for newly-issued shares of Class A common stock. In connection with these redemptions, we received 1.5 million, 2.6 million and 1.4 million LLC Units,

which resulted in an increase in the tax basis of our investment in GF subject to the provisions of the Tax Receivable Agreement. We recognized a liability for the TRA Payments due to the Pre-IPO LLC Members, representing 85% of the aggregate tax benefits we expect to realize from the tax basis increases related to the redemptions of LLC Units, after concluding it was probable that such TRA Payments would be paid based on our estimates of future taxable income. As of December 31, 2021 and 2020, the total amount of TRA Payments due to the Pre-IPO LLC Members under the Tax Receivable Agreement was $101.0 million and $62.1 million, respectively, of which $0.0 million and $0.5 million, respectively, was current and included in Accounts payables and accrued expenses on the Consolidated Balance Sheet.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders' equity

Stockholder's equity

Class A Common Stock

GSHD has a total of 20,198 thousand and 18,304 thousand shares of its Class A common stock outstanding at December 31, 2021 and 2020, respectively. Each share of Class A common stock holds economic rights and entitles its holder to one vote per share on all matters submitted to a vote of the stockholders of GSHD.

Class B Common Stock

GSHD has a total of 16,909 thousand and 18,447 thousand shares of its Class B common stock outstanding at December 31, 2021 and 2020, respectively. Each share of Class B common stock has no economic rights but entitles its holder to one vote per share on all matters submitted to a vote of the stockholders of GSHD.

Holders of Class A common stock and Class B common stock vote together as a single class on all matters presented to GSHD's stockholders for their vote or approval, except as otherwise required by applicable law, by agreement, or by GSHD's certificate of incorporation.

Earnings Per Share

The following table sets forth the calculation of basic earnings per share ("EPS") based on net income attributable to GSHD for the year ended December 31, 2021, 2020, and 2019, divided by the basic weighted average number of Class A common stock as of December 31, 2021 and 2020 (in thousands, except per share amounts). Diluted earnings per share of Class A common stock is computed by dividing net income attributable to GSHD by the weighted average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. The Company has not included the effects of conversion of Class B shares to Class A shares in

the diluted EPS calculation using the "if-converted" method, because doing so has no impact on diluted EPS (in thousands):


	Year Ended December 31,
	2021		2020		2019
Numerator:
Income (loss) before taxes	$	6,004	$	17,720	$	11,686
Less: income (loss) before taxes attributable to non-controlling interests	2,893		9,468		6,956
Income (loss) before taxes attributable to GSHD	3,111		8,252		4,730
Less: income tax expense attributable to GSHD	(2,292)		(1,035)		1,163
Net income (loss) attributable to GSHD	$	5,403	$	9,287	$	3,567
Denominator:
Weighted average shares of Class A common stock outstanding - basic	19,181		16,785		14,864
Effect of dilutive securities:
Stock options	1,632		1,598		1,236
Weighted average shares of Class A common stock outstanding - diluted	20,813		18,383		16,100

Earnings per share of Class A common stock - basic	$	0.28	$	0.55	$	0.24
Earnings per share of Class A common stock - diluted	$	0.26	$	0.51	$	0.22

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Non-controlling interest

12 Months Ended

Dec. 31, 2021

Noncontrolling Interest [Abstract]

Non-controlling interest

Non-Controlling Interests

Following the Offering, GSHD became the sole managing member of GF and, as a result, it consolidates the financial results of GF. GSHD reports a non-controlling interest representing the economic interest in GF held by the other members of GF.

On a quarterly basis, GF makes distributions to the LLC Unit holders on a pro rata basis. For the year ended December 31, 2021, GF made no distributions. For the year ended December 31, 2020, GF made distributions of $4.8 million, of which $2.7 million were made to Pre-IPO LLC Members. The remaining $2.2 million were made to GSHD and were eliminated in consolidation.

Under the amended and restated Goosehead Financial, LLC Agreement, the Pre-IPO LLC Members have the right, from and after the completion of the Offering (subject to the terms of the amended and restated Goosehead Financial, LLC Agreement), to require GSHD to redeem all or a portion of their LLC Units for, at GSHD's election, newly-issued shares of Class A common stock on a one-for-one basis or a cash payment equal to the volume weighted average market price of one share of GSHD's Class A common stock for each LLC Unit redeemed (subject to customary adjustments, including for stock splits, stock dividends and reclassifications) in accordance with the terms of the amended and restated Goosehead Financial, LLC Agreement. Additionally, in the event of a redemption request by a Pre-IPO LLC Member, GSHD may, at its option, effect a direct exchange of cash or Class A common stock for LLC Units in lieu of such a redemption. Shares of Class B common stock will be canceled on a one-for-one basis if GSHD, at the election of a Pre-IPO LLC Member, redeems or exchanges LLC Units of such Pre-IPO LLC Member pursuant to the terms of the amended and restated Goosehead Financial, LLC Agreement. Except for transfers to GSHD pursuant to the amended and restated Goosehead Financial, LLC Agreement or to certain permitted transferees, the Pre-IPO LLC Members are not permitted to sell, transfer or otherwise dispose of any LLC Units or shares of Class B common stock.

During 2021 and 2020, an aggregate of 1.5 million and 2.6 million LLC Units, respectively, were redeemed by the non-controlling interest holders. Pursuant to the GF LLC Agreement, we issued 1.5 million and 2.6 million shares of Class A common stock in connection with these redemptions and received 1.5 million and 2.6 million LLC Interests, increasing our ownership interest in GF LLC. Simultaneously, and in connection with these redemptions, 1.5 million and 2.6 million shares of Class B common stock were surrendered and canceled.

The following table summarizes the ownership interest in GF as of December 31, 2021 and 2020 (in thousands).


	December 31, 2021		December 31, 2020
	LLC Units	Ownership %	LLC Units	Ownership %
Number of LLC Units held by GSHD	20,198	54.4%	18,304	49.8%
Number of LLC Units held by non-controlling interest holders	16,909	45.6%	18,447	50.2%
Number of LLC Units outstanding	37,107	100.0%	36,751	100.0%

The weighted average ownership percentages for the applicable reporting periods are used to attribute net income to GSHD and the non-controlling interest holders. The non-controlling interest holders' weighted average ownership percentage for the years ended December 31, 2021 and 2020 was 48.0% and 54.0%, respectively. All net income prior to the Offering is attributed to non-controlling interest holders.

The following table summarizes the effects of changes in ownership in GF on the equity of GSHD for the years ended December 31, 2021, 2020, and 2019 is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Net Income attributable to Goosehead Insurance Inc.	$	5,403	$	9,287	$	3,567
Transfers (to) from non-controlling interests:
Decrease in additional paid-in capital as a result of the redemption of LLC interests	(3,728)		(3,525)		(1,368)
Increase in additional paid-in capital as a result of activity under employee stock purchase plan	796		542		325
Total effect of changes in ownership interest on equity attributable to Goosehead Insurance Inc.	$	2,471	$	6,304	$	2,524

Equity-based compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Equity-based compensation

A summary of equity-based compensation expense during the years ended December 31, 2021, 2020, and 2019 is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Stock options	$	7,292	$	4,745	$	1,526
Equity-based compensation expense	$	7,292	$	4,745	$	1,526

Stock options:

In connection with the IPO, GSHD granted 1,650 thousand options to directors and certain employees. The stock options were granted with a strike price of $10.00 per share (the initial public offering price). The 365 thousand director stock options vest quarterly over a three-year period, and the 1,285 thousand employee stock options vest annually from 2020 to 2022. The grant date fair value was determined using the Black-Scholes valuation model using the following assumptions:


Expected volatility	25	%
Expected dividend yield	—
Expected term (in years)	5.95
Risk-free interest rate	2.59	%

GSHD will recognize the total compensation expense of $5.2 million related to such option grants on a straight-line basis over the requisite service period of the award recipient (three years for directors and four years for certain employees).

In April 2018, GSHD adopted the Omnibus Incentive Plan, which reserved 1.5 million shares of Class A Common Stock for delivery to directors, officers, and managing directors in connection with future awards granted under the plan. GSHD also adopted an Employee Stock Purchase Plan ("ESPP"), which reserved 20 thousand shares of Class A Common Stock for delivery to employees. On March 7, 2019, GSHD’s Board of Directors amended the Omnibus Incentive Plan, increasing the number of shares available under the plan to 3.0 million shares. On the same date, GSHD’s Board of Directors approved an increase in the total number of shares available under the ESPP to 30 thousand shares. There were 21 thousand and 13 thousand shares outstanding related to the Employee Stock Purchase Plan at December 31, 2021 and 2020.

On April 1, 2020, the Company granted an additional 900,000 stock options to its Managing Directors at an exercise price equal to $40.88 per share. The grant date fair value of $16.31 per option was determined using the Black-Scholes valuation model using the following assumptions:


Expected volatility	40	%
Expected dividend yield	—	%
Expected term (in years)	6.5
Risk-free interest rate	0.47	%

On January 4, 2021, the Company granted an additional 153,500 stock options to its Board of Directors and Managing Directors at an exercise price equal to $131.87 per share. The weighted average grant date fair value of $47.43 per option was determined using the Black-Scholes valuation model using the following weighted average assumptions:


Expected volatility	45	%
Expected dividend yield	—	%
Expected term (in years)	4.25
Risk-free interest rate	0.29	%

A summary of stock option activity for the years ended December 31, 2021, 2020 and 2019 is as follows (in thousands except per share amounts):


	Stock Options	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Outstanding as January 1, 2019	1,650	$	10.00	$	5,153
Granted	80	34.50		816
Exercised	—	—		—
Forfeited	—	—		—
Expired	—	—		—
Outstanding as of December 31, 2019	1,730	$	11.13	$	5,969
Granted	1,010	41.24		16,322
Exercised	(450)	10.00		1,390
Forfeited	—	—		—
Expired	—	—		—
Outstanding as of December 31, 2020	2,290	$	24.63	$	20,901
Granted	154	131.87		7,280
Exercised	(351)	10.83		1,186
Forfeited	(24)	45.45		370
Expired	—	—		—
Outstanding as of December 31, 2021	2,069	$	34.68	$	26,625	7.43
Options vested and exercisable as of December 31, 2021	466	$	15.38	$	2,265	6.38
Options expected to vest as of December 31, 2021	1,603	$	40.23	$	24,360	7.73

As of December 31, 2021, total unrecognized compensation expense related to unvested stock options was $14.7 million, which is expected to be recognized over a weighted average period of 2.29 years. Cash received from stock option exercises during the year ended December 31, 2021 was $4.6 million.

A summary of unvested stock option activity for the years ended December 31, 2021, 2020 and 2019 is as follows (in thousands except per share amounts):


	Stock Options	Weighted Average Grant Date Fair Value
Unvested as January 1, 2019	1,559	$	3.13
Vested	(122)	2.96
Granted	80	10.19
Forfeited	—	—
Unvested as of December 31, 2019	1,517	$	3.15
Vested	(550)	3.12
Granted	1,010	16.16
Forfeited	—	—
Unvested as of December 31, 2020	1,977	$	10.09
Vested	(504)	5.09
Granted	154	47.43
Forfeited	(24)	15.44
Unvested as of December 31, 2021	1,603	$	15.20

The total fair value of stock options vested during the years ended December 31, 2021, 2020 and 2019 was $2.6 million, $1.7 million and $0.4 million, respectively.

Dividends

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Dividends

On March 7, 2019, GF approved a $15 million extraordinary dividend to all holders of LLC Units, including GSHD. The board of directors of the Company then declared an extraordinary dividend of $0.41 (rounded) to all holders of Class A common stock of GSHD with a record date of March 18, 2019, paid on or before April 1, 2019. A summary of the total amounts declared by GF is as follows (in thousands):


	LLC Units held as of March 18, 2019	Dividends declared
Class A common stockholders	14,421	$	5,962
Class B common stockholders via LLC Units held	21,864	9,038
Total	36,285	$	15,000

On July 30, 2020, GF approved an extraordinary dividend in the aggregate amount of $42 million payable to holders of LLC Units, including GSHD. The board of directors of the Company subsequently declared an extraordinary dividend of $1.15 (rounded) to all holders of Class A common stock of GSHD with a record date of August 10, 2020, which was paid on August 24, 2020. A summary of the total amounts declared by GF is as follows (in thousands):


	LLC Units held as of August 10, 2020	Dividends declared
Class A common stockholders	17,263	$	19,843
Class B common stockholders via LLC Units held	19,276	22,157
Total	36,539	$	42,000

On July 28, 2021 GF approved an extraordinary dividend in the aggregate amount of $60 million payable to holders of LLC Units, including GSHD. The board of directors of the Company subsequently declared an extraordinary dividend of $1.63 (rounded) to all holders of Class A common stock of GSHD with a record date of August 9, 2021, which was paid on August 23, 2021. A summary of the total amounts declared and paid by GF is as follows (in thousands):


	LLC Units held as of August 9, 2021	Dividend Paid
Class A common stockholders	19,429	$	31,657
Class B common stockholders via LLC Units held	17,401	28,343
Total	36,830	$	60,000

Any future extraordinary dividends will be declared at the sole discretion of GF's managing members with respect to GF and the Company's board of directors with respect to GSHD. In determining whether a future extraordinary dividend will be declared by the Company, the board of directors may, at its sole discretion, consider the following: the Company's financial condition and operating results, the Company's available cash and current and anticipated cash needs, the Company's capital requirements, any contractual, legal, tax and regulatory restrictions, general economic and business conditions, and such other factors or conditions as the board of directors deems relevant.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Effective January 1, 2020, the Company adopted new guidance that requires lessees to recognize on the Consolidated balance sheets all leases with lease terms greater than twelve months as a lease liability with a corresponding right-of-use (“ROU”) asset. Accordingly, the Company recognized operating lease liabilities and ROU asset of $18.5 million and $11.2 million, respectively, on January 1, 2020. For those leases that fall under the definition of a short-term lease, the Company elected the short-term lease recognition exemption. The adoption of the new lease guidance did not have a material impact on the Company’s Consolidated statements of operations.

At December 31, 2021, Goosehead was obligated under a number of operating leases, exclusively leases for premises and equipment used for business purposes. These leases generally have terms of 7 years or less, determined based on the contractual maturity of the lease, and include periods covered by options to extend or terminate the lease when the Company is reasonably certain that it will exercise those options. None of these lease agreements impose restrictions on the Company’s ability to pay dividends, engage in debt or equity financing transactions or enter into further lease agreements. Certain of these leases contain escalation clauses that will increase rent payments based on maintenance, utility and tax increases, which are non-lease components and variable in nature. The Company elected not to separate lease and non-lease components of a contract for its real estate and equipment leases. As such, real estate lease payments represent payments on both lease and non-lease components.

Operating lease liabilities and ROU asset are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term. The future lease payments are discounted at a rate that represents the Company’s collateralized borrowing rate for financing instruments of a similar term. We estimate this for our portfolio of leases using information obtained from our bankers. The ROU asset also includes any lease prepayments made, plus initial direct costs incurred, less any lease incentives received. Rent expense associated with operating leases is recognized on a straight-line basis over the lease term, and generally included in occupancy expense within General and administrative expenses in the Consolidated statements of operations.

The following table provides information related to the Company’s leases as of December 31, 2021 and 2020 (in thousands):


	December 31, 2021			December 31, 2020
Right-of-use assets	$	32,656		$	22,513

Short term lease liabilities	4,893			3,203
Long term lease liabilities	47,335			32,933
Total lease liabilities	52,228			36,136

Weighted average remaining lease term (in years)	8.10			9.23
Weighted average incremental borrowing rate	3.1		%	3.1		%

The following is a schedule showing the components of lease cost for the year ended December 31, 2021 and 2020 (in thousands):


	December 31, 2021		December 31, 2020
Gross operating lease cost	$	4,798	$	3,111
Sublease income	(7)		(25)
Net lease cost	$	4,791	$	3,086

The following is a schedule of supplemental cash flow information related to leases for the year ended December 31, 2021 and 2020 (in thousands):


	December 31, 2021		December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(16,092)	$	(36,136)

Right of use assets obtained in exchange for lease obligation
Operating leases	$	10,143	$	22,513

The following is a schedule of future maturity of lease liability as of December 31, 2021 (in thousands):


	December 31, 2021
2022	$	5,680
2023	7,465
2024	7,509
2025	7,557
2026	7,443
Thereafter	24,019
Total lease payments	59,673
Less: imputed interest	(7,445)
Future maturity of lease liability	$	52,228

As of December 31, 2021, the Company had additional future operating lease commitments of $12.6 million that were signed but had not yet commenced. These operating leases will commence between 2022 and 2023 with lease terms up to 7 years.

Segment information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment information

Segment informationThe Company has two reportable segments: Corporate Channel and Franchise Channel. The Corporate Channel consists of company-owned and financed operations with employees who are hired, trained, and managed by Goosehead. The Franchise Channel network consists of franchisee operations that are owned and managed by individual business owners. These business owners have a contractual relationship with Goosehead to use the Company's processes, systems, and back-office support team to sell insurance and manage their business. In exchange, Goosehead is entitled to an initial franchise fee and ongoing royalty fees. Allocations of contingent commissions and certain operating expenses are based on reasonable assumptions and estimates primarily using revenue, headcount and other information. The Company’s chief operating decision maker uses net income before interest, income taxes, depreciation and amortization, adjusted to exclude equity-based compensation and other non-operating items, including, among other things, certain non-cash charges and certain non-recurring or non-operating gains or losses (“Adjusted EBITDA”) as a performance measure to manage resources and make decisions about the business. Summarized financial information concerning the Company’s reportable segments is shown in the following tables (in thousands). There are no intersegment sales, only interest income and interest expense related to an intersegment line of credit, all of which eliminate in consolidation. The “Other” column includes any income and expenses not allocated to reportable segments and corporate-related items, including equity-based compensation, certain legal expenses and interest related to the note payable.


	Franchise Channel		Corporate Channel		Other		Total
Year Ended December 31, 2021
Revenues:
Commissions and agency fees
Renewal Commissions	$	—	$	39,111	$	—	$	39,111
Agency Fees	—		11,506		—		11,506
New Business Commissions	—		22,108		—		22,108
Contingent Commissions	7,378		2,548		—		9,926
Total Commissions and Agency Fees	7,378		75,273		—		82,651
Franchise revenue							—
Renewal Royalty Fees	46,079		—		—		46,079
New Business Royalty Fees	14,616		—		—		14,616
Initial Franchise Fees	6,516		—		—		6,516
Other Franchise Revenues	297		—		—		297
Total Franchise Revenue	67,508		—		—		67,508
Interest income							—
Interest Income	1,153		—		—		1,153
Total Interest Income	1,153		—		—		1,153
Total	76,039		75,273		—		151,312
Operating expenses:
Employee compensation and benefits, excluding equity-based compensation	32,975		52,771		—		85,746
General and administrative expenses	18,439		20,504		2,786		41,729
Bad debts	1,173		1,826		—		2,999
Total	52,587		75,101		2,786		130,474
Adjusted EBITDA	23,452		172		(2,786)		20,838
Other income	77		108		—		185
Equity based compensation	—		—		(7,292)		(7,292)
Interest expense	—		—		(2,854)		(2,854)
Depreciation and amortization	(2,965)		(1,908)		—		(4,873)
Taxes	—		—		2,292		2,292
Net income	$	20,564	$	(1,628)	$	(10,640)	$	8,296
At December 31, 2021:
Total Assets	$	57,164	$	43,819	$	166,815	$	267,798


	Franchise Channel		Corporate Channel		Other		Total
Year Ended December 31, 2020
Revenues:
Commissions and agency fees
Renewal Commissions	$	—	$	28,891	$	—	$	28,891
Agency Fees	—		8,921		—		8,921
New Business Commissions	—		17,324		—		17,324
Contingent Commissions	10,754		5,921		—		16,675
Total Commissions and Agency Fees	10,754		61,057		—		71,811
Franchise revenue
Renewal Royalty Fees	29,309		—		—		29,309
New Business Royalty Fees	10,623		—		—		10,623
Initial Franchise Fees	4,236		—		—		4,236
Other Franchise Revenues	222		—		—		222
Total Franchise Revenue	44,390		—		—		44,390
Interest income
Interest Income	813		—		—		813
Total Interest Income	813		—		—		813
Total	55,957		61,057		—		117,014
Employee compensation and benefits, excluding equity-based compensation	26,231		35,843		—		62,074
General and administrative expenses	9,618		12,058		3,856		25,532
Bad debts	387		1,189		—		1,576
Total	36,236		49,090		3,856		89,182
Adjusted EBITDA	19,721		11,967		(3,856)		27,832
Other income (expense)	90		—		—		90
Equity based compensation	—		—		(4,745)		(4,745)
Interest expense	—		—		(2,310)		(2,310)
Depreciation and amortization	(1,775)		(1,372)		—		(3,147)
Taxes	—		—		1,035		1,035
Net income	$	18,036	$	10,595	$	(9,876)	$	18,755
At December 31, 2020:
Total Assets	$	82,804	$	25,609	$	77,424	$	185,837


	Franchise Channel		Corporate Channel		Other		Total
Year ended December 31, 2019
Revenues:
Commissions and agency fees
Renewal Commissions	$	—	$	22,924	$	—	$	22,924
Agency Fees	—		6,058		—		6,058
New Business Commissions	—		11,961		—		11,961
Contingent Commissions	3,530		1,893		—		5,423
Total Commissions and Agency Fees	3,530		42,836		—		46,366
Franchise revenue
Renewal Royalty Fees	19,462		—		—		19,462
New Business Royalty Fees	7,149		—		—		7,149
Initial Franchise Fees	3,784		—		—		3,784
Other Income	108		—		—		108
Total Franchise Revenue	30,503		—		—		30,503
Interest income
Interest Income	617		—		—		617
Total Interest Income	617		—		—		617
Total	34,650		42,836		—		77,486
Employee compensation and benefits, excluding equity-based compensation	16,673		23,516		—		40,189
General and administrative expenses, excluding state franchise tax(1)	7,392		8,769		2,881		19,042
Bad debts	121		604		—		725
Total	24,186		32,889		2,881		59,956
Adjusted EBITDA	10,464		9,947		(2,881)		17,530
Other income (expense)	—		—		—		—
Equity based compensation	—		—		(1,526)		(1,526)
Interest expense	—		—		(2,387)		(2,387)
Depreciation and amortization	(960)		(971)		—		(1,931)
Taxes	—		—		(1,304)		(1,304)
Net income	$	9,504	$	8,976	$	(8,098)	$	10,382
At December 31, 2019:
Total Assets	$	22,676	$	15,127	$	26,825	$	64,628

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Litigation	12 Months Ended
Litigation	Dec. 31, 2021
Loss Contingency, Information about Litigation Matters [Abstract]
Litigation	LitigationFrom time to time, the Company may be involved in various legal proceedings, lawsuits and claims incidental to the conduct of our business. The amount of any loss from the ultimate outcomes is not probable or reasonably estimable. It is the opinion of management that the resolution of outstanding claims will not have a material adverse effect on the financial position or results of operations of the Company.

Basis of presentation and significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Consolidation	In connection with the Offering, both Goosehead Management, LLC (“GM”) and Texas Wasatch Insurance Holdings Group LLC (“TWIHG”) became wholly owned indirect subsidiaries of GF. Both GM and TWIHG are non-operating holding companies created to receive management fees from the operating entities TWIS and GIA.
Basis of Presentation	Basis of Presentation The accompanying audited consolidated financial statements of GSHD and our subsidiaries are presented in accordance with the rules and regulations of the SEC for annual reports on Form 10-K and are prepared in accordance with U.S. GAAP. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reported period. Accordingly, actual results could differ from those estimates as more information becomes known.
Cash and cash equivalents and restricted cash	Cash and cash equivalents The Company maintains its cash in bank deposit accounts that, at times, may exceed federally insured limits; however, the Company has not historically experienced any losses in these accounts. The Company believes it is not exposed to any significant credit risk. The Company currently holds no financial instruments that would be considered cash equivalents. Restricted cash The Company holds premiums received from the insured, but not yet remitted to the insurance carrier in a fiduciary capacity.
Commissions and agency fees receivable and receivable from franchisees	Commissions and agency fees receivable Upon issuance of a new policy, the Company typically collects the first premium payment from the insured, and then will remit the full premium amount to the insurance carriers. The insurance carriers collect the remaining premiums directly from the insureds and remit the applicable commissions to the Company. Accordingly, as reported in the accompanying consolidated balance sheet, commissions are receivables from the insurance carriers. These direct-bill arrangements consist of a high volume of transactions with small premium amounts, with the billing controlled by the insurance carriers. The income statement and balance sheet effects of the commissions are recorded at the contract effective date and generally are based on a percentage of premiums for insurance coverage. During 2021, the Company wrote with over 145 insurance carriers, of which 53 provided national coverage. In 2021, two carriers represented more than 10% of total revenue at 17% and 11%. In 2020, three carriers represented more than 10% of total revenue at 20%, 13%, and 12%. In 2019, two carriers represented more than 10% of total revenue at 16% and 10%. In select states, agents have the option to charge an agency fee for the placement of the insurance policy. These non-refundable fees are recorded as receivable on the date the policy is effective with the insurance carrier. Allowance for uncollectible agency fees The Company records agency fees receivable net of an allowance for estimated uncollectible accounts to reflect any loss anticipated for the related agency fees receivable balances and charge to bad debts. The agency fees receivable balance consists of numerous small-balance, homogeneous accounts. The Company calculates the allowance based on collection history and writes off all uncollected agency fee balances outstanding over ninety days. Receivable from franchisees Receivable from franchisees consists of franchise fees receivable, net of allowance for uncollectible franchise fees and unamortized discount on franchise fees, royalty fees receivable, and notes receivable from franchisees. Franchise fees receivable At the start date of the franchise agreement, an entry to franchise fees receivable is recorded along with an entry for a contract liability, to be amortized to franchise fees within Franchise revenues over the 10-year life of the franchise contract. Franchisees have the option to pay the full amount of franchise fees up front or to pay a deposit up front and the remaining balance by payment plan over time. The franchisees that elect to pay the initial franchise fee over a term extending greater than one year pay in total an amount that exceeds the amount due had they paid the full amount up front. As such, the payment plan option is treated as a zero-interest rate note, which creates an imputation of interest. The imputed interest is recorded as a discount on the franchise fee receivable and amortized using the effective interest rate method over the life of the payment plan. The amount of interest recorded in 2021, 2020, and 2019 related to franchise fees on a payment plan was $1.1 million, $0.8 million, and $0.6 million, respectively, and is included in Interest income. Allowance for uncollectible franchise fees receivable The Company records franchise fees receivable net of an allowance for estimated uncollectible accounts to reflect any loss anticipated related to the franchise fees receivable balances and charged to bad debts. The franchise fees receivable balance consists of numerous small-balance, homogeneous accounts. The Company calculates the allowance based on our history of write offs for all franchise accounts. Franchise fees receivable and the related allowance is charged off to bad debts if the franchisee owing the balance terminates. Royalty fees receivable Royalty fees are recorded at the point in time when the policy becomes effective with the insurance carrier. The royalty fees are secured by the commissions of the franchisee with no historical losses incurred for uncollectible royalty fees. As such, there is no allowance for doubtful accounts relating to royalty fees.
Revenue recognition	Revenue recognition The adoption of ASC 606 on January 1, 2019 has increased the significance of judgments and estimates management must make to apply the guidance. In particular, judgments related to the amount of variable revenue consideration to ultimately be received on commission revenue, royalty fees, and contingent commissions, which were previously recognized when the Company received notification from the insurance carrier, now require significant judgments and estimates. The Company adjusts its estimates of revenue recognized for commissions and royalty fees based on cash collections during the terms of the policies. Under the new standard, certain costs to obtain or fulfill a contract that were previously expensed as incurred have been capitalized. The Company capitalizes the incremental costs to obtain contracts primarily related to commission payments. These deferred costs are amortized over the expected life of the underlying franchise fee, and are included in Other assets in the Company's consolidated balance sheet as of December 31, 2021.
Property & equipment	Property & equipment The Company carries fixed assets at cost, less accumulated depreciation, as stated in the accompanying consolidated balance sheets. Depreciation of property and equipment is calculated using the straight-line method over the estimated useful life of five years for furniture, fixtures and equipment and three years for computer equipment. Leasehold improvements are also amortized using the straight-line method and are amortized over the shorter of the remaining term of the lease or the useful life of the improvement. Expenditures for improvements are capitalized, and expenditures for maintenance and repairs are expensed as incurred. Upon sale or retirement, the cost and related accumulated depreciation and amortization is removed from the related accounts, and the resulting gain or loss, if any, is reflected in income.
Intangible assets	Intangible assets Intangible assets are stated at cost less accumulated amortization and reflect amounts paid for the Company’s web domain and computer software costs. The web domain is amortized over a useful life of fifteen years and software costs are amortized over a useful life of three years.
Premiums payable	Premiums payable Premiums payable represent premium payments that have been received from insureds, but not yet remitted to the insurance carriers.
Deferred financing costs	Deferred financing costs Deferred financing costs incurred in connection with the issuance of debt are capitalized and amortized to interest expense in accordance with the related debt agreements. Deferred financing costs are included as a reduction in notes payable on the accompanying consolidated balance sheets.
Lease accounting	Lease Accounting The primary leased asset class of the Company is real estate. For leases with an original term longer than one year, lease liabilities are initially recognized on the lease commencement date based on the present value of the future minimum lease payments over the lease term, including non-lease components such as fixed common area maintenance costs and other fixed costs for generally all leases. A corresponding right of use ("ROU") asset is initially recognized equal to the lease liability adjusted for any lease prepayments, initial direct costs and lease incentives and amortized into rent expense, which is mapped to general and administrative expenses in the consolidated statements of operations. The discount rates used in determining the present value of leases represent our collateralized borrowing rate considering each lease's term. The lease term includes options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Certain leases have renewal options that can be exercised at the discretion of the Company. Rent expense is generally recognized on a straight-line basis over the lease term and included in General and administrative expenses in the Consolidated Statement of Operations.
Deferred rent	Deferred Rent Deferred rent consists of rent abatement affecting the timing of cash rent payments related to the Company’s corporate office leases, as well as lease incentives such as construction allowances. In 2019, deferred rent was record as a liability and amortized over the lease term as a reduction to rent expense. In 2020, upon the adoption of ASC 842, the entire cumulative deferred rent balance under ASC 840 was treated as an adjustment to the ROU balance.
Income Taxes	Income Taxes Prior to the Offering, GF was treated as a partnership for U.S. federal and applicable state and local income tax purposes. As a partnership, GF's taxable income or loss was included in the taxable income of its members. Accordingly, no income tax expense was recorded for federal and state and local jurisdictions for periods prior to the Offering. In connection with the Offering completed on May 1, 2018, the Company became a taxable entity. The Company accounts for income taxes pursuant to the asset and liability method which requires the recognition of deferred income tax assets and liabilities related to the expected future tax consequences arising from temporary differences between the carrying amounts and tax bases of assets and liabilities based on enacted statutory tax rates applicable to the periods in which the temporary differences are expected to reverse. Any effects of changes in income tax rates or laws are included in income tax expense in the period of enactment.
Advertising	AdvertisingThe Company expenses advertising costs as they are incurred.
Recently issued and adopted accounting pronouncements	Recently adopted accounting pronouncements Simplifying the Accounting for Income Taxes (ASU 2019-12): In 2019, the Financial Accounting Standards Board issued ASU 2019-12 to simplify the accounting for income taxes. The guidance primarily addresses how to (1) recognize a deferred tax liability after we transition to or from the equity method of accounting, (2) evaluate if a step-up in the tax basis of goodwill is related to a business combination or is a separate transaction, (3) recognize all of the effects of a change in tax law in the period of enactment, including adjusting the estimated annual tax rate, and (4) include the amount of tax based on income in the income tax provision and any incremental amount as a tax not based on income for hybrid tax regimes. We adopted the guidance in the first quarter of 2021. The adoption did not have a material impact on our consolidated financial statements or related disclosures. Reference Rate Reform (ASU 2020-04): In March 2020, the Financial Accounting Standards Board issued ASU 2020-04. Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP if certain criteria are met to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022. A substantial portion of our indebtedness bears interest at variable interest rates, primarily based on USD-LIBOR. The adoption of ASU 2020-04 did not have a material impact on our consolidated financial statements. The standard will ease, if warranted, the administrative requirements for accounting for the future effects of the rate reform. Our debt agreement contains a provision to move to the Secured Overnight Financing Rate ("SOFR") if or when LIBOR is phased out. Leases (ASU 2016-02): ASU 2016-02 amended the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new guidance also required additional disclosures about leases. The Company adopted the requirements of the new standard as of the first day of 2020 using the modified retrospective approach, without restating comparative periods. As part of our adoption, we elected the package of practical expedients, as well as the hindsight practical expedient, permitted under the new guidance, which, among other things, allowed the Company to continue utilizing historical classification of leases. For those leases that fall under the definition of a short-term lease, the Company elected the short-term lease recognition exemption. The adoption of the new standard resulted in the recording of a right-of-use asset of $11.2 million and lease liabilities of $18.5 million, and had no impact on retained earnings as of the beginning of 2020. The standard did not materially impact our Consolidated Statements of Operations and had no impact on cash flows. Credit Losses (ASU 2016-13):Under the new guidance an entity is required to measure all credit losses on certain financial instruments, including trade receivables and various off-balance sheet credit exposures, using an expected credit loss model. This model incorporates past experience, current conditions and reasonable and supportable forecasts affecting collectability of these instruments. The Company adopted the requirements of the new standard as of the first day of 2020, however, the adoption of the amendment did not have a material effect on our consolidated financial statements or on our disclosures
Framework for measuring fair value	The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are described as follows: •Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets. •Level 2—Significant other observable inputs other than Level 1 prices such as quoted prices in markets that are not active, quoted prices for similar assets or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset. •Level 3—Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

Basis of presentation and significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Restrictions on cash and cash equivalents


	December 31, 2021
	2021		2020		2019
Cash and cash equivalents	$	28,526	$	24,913	$	14,337
Restricted cash	1,953		1,323		923
Cash and cash equivalents, and restricted cash	$	30,479	$	26,236	$	15,260

Schedule of reconciliation of cash and restricted cash


	December 31, 2021
	2021		2020		2019
Cash and cash equivalents	$	28,526	$	24,913	$	14,337
Restricted cash	1,953		1,323		923
Cash and cash equivalents, and restricted cash	$	30,479	$	26,236	$	15,260

Revenues (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following tables disaggregates revenue by segment and source (in thousands):


Year Ended December 31, 2021	Franchise Channel		Corporate Channel		Total
Type of revenue stream:
Commissions and agency fees
Renewal Commissions	$	—	$	39,111	$	39,111
New Business Commissions	—		22,108		22,108
Agency Fees	—		11,506		11,506
Contingent Commissions	7,378		2,548		9,926
Franchise revenues
Renewal Royalty Fees	46,079		—		46,079
New Business Royalty Fees	14,616		—		14,616
Initial Franchise Fees	6,516		—		6,516
Other Franchise Revenues	297		—		297
Interest Income	1,153		—		1,153
Total Revenues	$	76,039	$	75,273	$	151,312

Timing of revenue recognition:
Transferred at a point in time	$	—	$	72,725	$	72,725
Transferred over time	76,039		2,548		78,587
Total Revenues	$	76,039	$	75,273	$	151,312


Year Ended December 31, 2020:	Franchise Channel		Corporate Channel		Total
Type of revenue stream:
Commissions and agency fees
Renewal Commissions	$	—	$	28,891	$	28,891
New Business Commissions	—		17,324		17,324
Agency Fees	—		8,921		8,921
Contingent Commissions	10,754		5,921		16,675
Franchise revenues					—
Renewal Royalty Fees	29,309		—		29,309
New Business Royalty Fees	10,623		—		10,623
Initial Franchise Fees	4,236		—		4,236
Other Franchise Revenues	222		—		222
Interest Income	813		—		813
Total Revenues	$	55,957	$	61,057	$	117,014

Timing of revenue recognition:
Transferred at a point in time	$	—	$	55,136	$	55,136
Transferred over time	55,957		5,921		61,878
Total Revenues	$	55,957	$	61,057	$	117,014

Schedule of Contract Balances

The following table provides information about receivables, cost to obtain, and contract liabilities from contracts with customers (in thousands):


	December 31, 2021		December 31, 2020		Increase/(decrease)
Cost to obtain franchise contracts(1)	$	1,973	$	1,412	$	561
Commissions and agency fees receivable, net(2)	12,056		18,604		(6,548)
Receivable from franchisees, net(2)	29,673		20,279		9,394
Contract liabilities(2)(3)	48,608		34,201		14,407

(1) Cost to obtain franchise contracts is included in Other assets on the consolidated balance sheets.

(2) Includes both the current and long term portion of this balance.

(3) Initial Franchise Fees to be recognized over the life of the contract

Significant changes in contract liabilities are as follows (in thousands):


	December 31, 2021		December 31, 2020
Contract liability at beginning of period	$	34,201	$	22,795
Revenue recognized during the period	(6,516)		(4,236)
New deferrals(1)	20,923		15,642
Contract liability at end of period	$	48,608	$	34,201

(1) Initial franchise fees where the consideration is received from the customer for services which are to be transferred to the franchisee over the term of the franchise agreement

Schedule of Contract Liability


Estimate for the year ended December 31:
2022	$	6,054
2023	5,969
2024	5,904
2025	5,767
2026	5,629
Thereafter	19,285
	$	48,608

Franchise fees receivable (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Franchise Fees Receivable

The balance of Franchise fees receivable included in receivable from franchisees in the consolidated balance sheets consisted of the following (in thousands):


	December 31
	2021		2020
Franchise fees receivable	$	40,171	$	25,757
Less: Unamortized discount	(9,518)		(6,553)
Less: Allowance for uncollectible franchise fees	(303)		(149)
Total franchise fees receivable	$	30,350	$	19,055

Activity in the allowance for uncollectible agency fees was as follows (in thousands):


Allowance for Uncollectible Agency Fees:
Balance at December 31, 2019	$	178
Charges to bad debts	1,189
Write offs	(899)
Balance at December 31, 2020	$	468
Charges to bad debts	1,826
Write offs	(1,805)
Balance at December 31, 2021	$	489

Schedule of Allowance For Uncollectible Franchise Fees

Activity in the allowance for uncollectible franchise fees was as follows (in thousands):


Allowance for Uncollectible Franchise Fees:
Balance at December 31, 2019	$	52
Charges to bad debts	387
Write offs	(290)
Balance at December 31, 2020	149
Charges to bad debts	1,173
Write offs	(1,019)
Balance at December 31, 2021	$	303

Allowance for uncollectible agency fees (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Allowance for Uncollectible Agency Fees

The balance of Franchise fees receivable included in receivable from franchisees in the consolidated balance sheets consisted of the following (in thousands):


	December 31
	2021		2020
Franchise fees receivable	$	40,171	$	25,757
Less: Unamortized discount	(9,518)		(6,553)
Less: Allowance for uncollectible franchise fees	(303)		(149)
Total franchise fees receivable	$	30,350	$	19,055

Activity in the allowance for uncollectible agency fees was as follows (in thousands):


Allowance for Uncollectible Agency Fees:
Balance at December 31, 2019	$	178
Charges to bad debts	1,189
Write offs	(899)
Balance at December 31, 2020	$	468
Charges to bad debts	1,826
Write offs	(1,805)
Balance at December 31, 2021	$	489

Property and equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following at (in thousands):


	December 31,
	2021		2020
Furniture & fixtures	$	7,283	$	4,404
Computer equipment	3,369		2,453
Network equipment	514		352
Phone system	937		937
Leasehold improvements	25,115		16,534
Total	37,218		24,680
Less accumulated depreciation	(12,285)		(8,030)
Property and equipment, net	$	24,933	$	16,650

Intangible assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):


	December 31,				Weighted average amortization period (years)
	2021		2020
Computer software & web domain	$	4,168	$	1,473	3.01
Less accumulated amortization	(1,370)		(924)
Intangible assets, net	$	2,798	$	549

Schedule of Expected Amortization Expense

Expected amortization over the next five years is as follows:


	Amount
Year Ending December 31,
2022	$	577
2023	969
2024	739
2025	512
2026 and thereafter	1
Total	$	2,798

Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Interest Rate Dependent of Leverage Ratio

The interest rate for each leverage ratio tier are as follows:


Leverage Ratio			Interest Rate
< 1.50x			LIBOR + 175 bps
> 1.50x			LIBOR + 200 bps
> 2.50x			LIBOR + 225 bps
> 3.50x			LIBOR + 250 bps

Schedule of Maturities of Note Payable

Maturities of the term note payable for the next five calendar years as of December 31, 2021 are as follows (in thousands):


	Amount
2022	$	4,375
2023	6,875
2024	9,375
2025	10,000
2026	68,125
Total	$	98,750

Income taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense are as follows (in thousands):


	Year Ended December 31
	2021		2020		2019
Current income taxes
Federal	$	—	$	(1,719)	$	735
State and local	226		373		283
Total current income taxes	226		(1,346)		1,018
Deferred income taxes
Federal	(4,316)		217		260
State and local	1,798		94		26
Total deferred income taxes	(2,518)		311		286
Income tax expense (benefit)	$	(2,292)	$	(1,035)	$	1,304

Schedule of Reconciliation of Income Tax Expense

A reconciliation of income tax expense computed at the U.S. federal statutory income tax rate to the income tax expense recognized is as follows (in thousands):


	Year Ended December 31
	2021		2020		2019


Income before taxes	$	6,004	$	17,720	$	11,686

Income taxes at U.S. federal statutory rate	1,261		3,720		2,454
Tax on income not subject to entity level federal income tax	(617)		(2,264)		(1,453)
Permanent Differences:

Non-deductible stock compensation costs	(4,530)		(3,004)		—

Non-deductible employee moving expenses	6		1		—
Meals & Entertainment	25		47		61

State income tax, net of federal benefit	1,553		524		236
Other Reconciling items:
Other	10		(59)		6
Income tax expense (benefit)	$	(2,292)	$	(1,035)	$	1,304

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets are as follows (in thousands):


	December 31, 2021		December 31, 2020
Net operating loss carryforwards	$	8,929	$	703
Investment in flow-through entity	116,747		72,660
Net deferred tax asset	$	125,676	$	73,363

Stockholders' equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

the diluted EPS calculation using the "if-converted" method, because doing so has no impact on diluted EPS (in thousands):


	Year Ended December 31,
	2021		2020		2019
Numerator:
Income (loss) before taxes	$	6,004	$	17,720	$	11,686
Less: income (loss) before taxes attributable to non-controlling interests	2,893		9,468		6,956
Income (loss) before taxes attributable to GSHD	3,111		8,252		4,730
Less: income tax expense attributable to GSHD	(2,292)		(1,035)		1,163
Net income (loss) attributable to GSHD	$	5,403	$	9,287	$	3,567
Denominator:
Weighted average shares of Class A common stock outstanding - basic	19,181		16,785		14,864
Effect of dilutive securities:
Stock options	1,632		1,598		1,236
Weighted average shares of Class A common stock outstanding - diluted	20,813		18,383		16,100

Earnings per share of Class A common stock - basic	$	0.28	$	0.55	$	0.24
Earnings per share of Class A common stock - diluted	$	0.26	$	0.51	$	0.22

Non-controlling interest (Tables)

12 Months Ended

Dec. 31, 2021

Noncontrolling Interest [Abstract]

Schedule of Ownership Interests

The following table summarizes the ownership interest in GF as of December 31, 2021 and 2020 (in thousands).


	December 31, 2021		December 31, 2020
	LLC Units	Ownership %	LLC Units	Ownership %
Number of LLC Units held by GSHD	20,198	54.4%	18,304	49.8%
Number of LLC Units held by non-controlling interest holders	16,909	45.6%	18,447	50.2%
Number of LLC Units outstanding	37,107	100.0%	36,751	100.0%

Schedule of Effects of Changes in Ownership Interests on Equity

The following table summarizes the effects of changes in ownership in GF on the equity of GSHD for the years ended December 31, 2021, 2020, and 2019 is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Net Income attributable to Goosehead Insurance Inc.	$	5,403	$	9,287	$	3,567
Transfers (to) from non-controlling interests:
Decrease in additional paid-in capital as a result of the redemption of LLC interests	(3,728)		(3,525)		(1,368)
Increase in additional paid-in capital as a result of activity under employee stock purchase plan	796		542		325
Total effect of changes in ownership interest on equity attributable to Goosehead Insurance Inc.	$	2,471	$	6,304	$	2,524

Equity-based compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Equity-Based Compensation Expense

A summary of equity-based compensation expense during the years ended December 31, 2021, 2020, and 2019 is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Stock options	$	7,292	$	4,745	$	1,526
Equity-based compensation expense	$	7,292	$	4,745	$	1,526

Schedule of Stock Option Valuation Assumptions

The grant date fair value was determined using the Black-Scholes valuation model using the following assumptions:


Expected volatility	25	%
Expected dividend yield	—
Expected term (in years)	5.95
Risk-free interest rate	2.59	%

The grant date fair value of $16.31 per option was determined using the Black-Scholes valuation model using the following assumptions:


Expected volatility	40	%
Expected dividend yield	—	%
Expected term (in years)	6.5
Risk-free interest rate	0.47	%


Expected volatility	45	%
Expected dividend yield	—	%
Expected term (in years)	4.25
Risk-free interest rate	0.29	%

Schedule of Stock Option Activity

A summary of stock option activity for the years ended December 31, 2021, 2020 and 2019 is as follows (in thousands except per share amounts):


	Stock Options	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Outstanding as January 1, 2019	1,650	$	10.00	$	5,153
Granted	80	34.50		816
Exercised	—	—		—
Forfeited	—	—		—
Expired	—	—		—
Outstanding as of December 31, 2019	1,730	$	11.13	$	5,969
Granted	1,010	41.24		16,322
Exercised	(450)	10.00		1,390
Forfeited	—	—		—
Expired	—	—		—
Outstanding as of December 31, 2020	2,290	$	24.63	$	20,901
Granted	154	131.87		7,280
Exercised	(351)	10.83		1,186
Forfeited	(24)	45.45		370
Expired	—	—		—
Outstanding as of December 31, 2021	2,069	$	34.68	$	26,625	7.43
Options vested and exercisable as of December 31, 2021	466	$	15.38	$	2,265	6.38
Options expected to vest as of December 31, 2021	1,603	$	40.23	$	24,360	7.73

A summary of unvested stock option activity for the years ended December 31, 2021, 2020 and 2019 is as follows (in thousands except per share amounts):


	Stock Options	Weighted Average Grant Date Fair Value
Unvested as January 1, 2019	1,559	$	3.13
Vested	(122)	2.96
Granted	80	10.19
Forfeited	—	—
Unvested as of December 31, 2019	1,517	$	3.15
Vested	(550)	3.12
Granted	1,010	16.16
Forfeited	—	—
Unvested as of December 31, 2020	1,977	$	10.09
Vested	(504)	5.09
Granted	154	47.43
Forfeited	(24)	15.44
Unvested as of December 31, 2021	1,603	$	15.20

Dividends (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Total Estimated Dividends to be Paid

A summary of the total amounts declared by GF is as follows (in thousands):


	LLC Units held as of March 18, 2019	Dividends declared
Class A common stockholders	14,421	$	5,962
Class B common stockholders via LLC Units held	21,864	9,038
Total	36,285	$	15,000

A summary of the total amounts declared by GF is as follows (in thousands):


	LLC Units held as of August 10, 2020	Dividends declared
Class A common stockholders	17,263	$	19,843
Class B common stockholders via LLC Units held	19,276	22,157
Total	36,539	$	42,000

A summary of the total amounts declared and paid by GF is as follows (in thousands):


	LLC Units held as of August 9, 2021	Dividend Paid
Class A common stockholders	19,429	$	31,657
Class B common stockholders via LLC Units held	17,401	28,343
Total	36,830	$	60,000

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Lease Information, Rent Expense and Supplemental Cash Flow Information

The following table provides information related to the Company’s leases as of December 31, 2021 and 2020 (in thousands):


	December 31, 2021			December 31, 2020
Right-of-use assets	$	32,656		$	22,513

Short term lease liabilities	4,893			3,203
Long term lease liabilities	47,335			32,933
Total lease liabilities	52,228			36,136

Weighted average remaining lease term (in years)	8.10			9.23
Weighted average incremental borrowing rate	3.1		%	3.1		%

The following is a schedule showing the components of lease cost for the year ended December 31, 2021 and 2020 (in thousands):


	December 31, 2021		December 31, 2020
Gross operating lease cost	$	4,798	$	3,111
Sublease income	(7)		(25)
Net lease cost	$	4,791	$	3,086

The following is a schedule of supplemental cash flow information related to leases for the year ended December 31, 2021 and 2020 (in thousands):


	December 31, 2021		December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(16,092)	$	(36,136)

Right of use assets obtained in exchange for lease obligation
Operating leases	$	10,143	$	22,513

Schedule of Future Minimum Lease Payments

The following is a schedule of future maturity of lease liability as of December 31, 2021 (in thousands):


	December 31, 2021
2022	$	5,680
2023	7,465
2024	7,509
2025	7,557
2026	7,443
Thereafter	24,019
Total lease payments	59,673
Less: imputed interest	(7,445)
Future maturity of lease liability	$	52,228

Segment information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Information


	Franchise Channel		Corporate Channel		Other		Total
Year Ended December 31, 2021
Revenues:
Commissions and agency fees
Renewal Commissions	$	—	$	39,111	$	—	$	39,111
Agency Fees	—		11,506		—		11,506
New Business Commissions	—		22,108		—		22,108
Contingent Commissions	7,378		2,548		—		9,926
Total Commissions and Agency Fees	7,378		75,273		—		82,651
Franchise revenue							—
Renewal Royalty Fees	46,079		—		—		46,079
New Business Royalty Fees	14,616		—		—		14,616
Initial Franchise Fees	6,516		—		—		6,516
Other Franchise Revenues	297		—		—		297
Total Franchise Revenue	67,508		—		—		67,508
Interest income							—
Interest Income	1,153		—		—		1,153
Total Interest Income	1,153		—		—		1,153
Total	76,039		75,273		—		151,312
Operating expenses:
Employee compensation and benefits, excluding equity-based compensation	32,975		52,771		—		85,746
General and administrative expenses	18,439		20,504		2,786		41,729
Bad debts	1,173		1,826		—		2,999
Total	52,587		75,101		2,786		130,474
Adjusted EBITDA	23,452		172		(2,786)		20,838
Other income	77		108		—		185
Equity based compensation	—		—		(7,292)		(7,292)
Interest expense	—		—		(2,854)		(2,854)
Depreciation and amortization	(2,965)		(1,908)		—		(4,873)
Taxes	—		—		2,292		2,292
Net income	$	20,564	$	(1,628)	$	(10,640)	$	8,296
At December 31, 2021:
Total Assets	$	57,164	$	43,819	$	166,815	$	267,798


	Franchise Channel		Corporate Channel		Other		Total
Year Ended December 31, 2020
Revenues:
Commissions and agency fees
Renewal Commissions	$	—	$	28,891	$	—	$	28,891
Agency Fees	—		8,921		—		8,921
New Business Commissions	—		17,324		—		17,324
Contingent Commissions	10,754		5,921		—		16,675
Total Commissions and Agency Fees	10,754		61,057		—		71,811
Franchise revenue
Renewal Royalty Fees	29,309		—		—		29,309
New Business Royalty Fees	10,623		—		—		10,623
Initial Franchise Fees	4,236		—		—		4,236
Other Franchise Revenues	222		—		—		222
Total Franchise Revenue	44,390		—		—		44,390
Interest income
Interest Income	813		—		—		813
Total Interest Income	813		—		—		813
Total	55,957		61,057		—		117,014
Employee compensation and benefits, excluding equity-based compensation	26,231		35,843		—		62,074
General and administrative expenses	9,618		12,058		3,856		25,532
Bad debts	387		1,189		—		1,576
Total	36,236		49,090		3,856		89,182
Adjusted EBITDA	19,721		11,967		(3,856)		27,832
Other income (expense)	90		—		—		90
Equity based compensation	—		—		(4,745)		(4,745)
Interest expense	—		—		(2,310)		(2,310)
Depreciation and amortization	(1,775)		(1,372)		—		(3,147)
Taxes	—		—		1,035		1,035
Net income	$	18,036	$	10,595	$	(9,876)	$	18,755
At December 31, 2020:
Total Assets	$	82,804	$	25,609	$	77,424	$	185,837


	Franchise Channel		Corporate Channel		Other		Total
Year ended December 31, 2019
Revenues:
Commissions and agency fees
Renewal Commissions	$	—	$	22,924	$	—	$	22,924
Agency Fees	—		6,058		—		6,058
New Business Commissions	—		11,961		—		11,961
Contingent Commissions	3,530		1,893		—		5,423
Total Commissions and Agency Fees	3,530		42,836		—		46,366
Franchise revenue
Renewal Royalty Fees	19,462		—		—		19,462
New Business Royalty Fees	7,149		—		—		7,149
Initial Franchise Fees	3,784		—		—		3,784
Other Income	108		—		—		108
Total Franchise Revenue	30,503		—		—		30,503
Interest income
Interest Income	617		—		—		617
Total Interest Income	617		—		—		617
Total	34,650		42,836		—		77,486
Employee compensation and benefits, excluding equity-based compensation	16,673		23,516		—		40,189
General and administrative expenses, excluding state franchise tax(1)	7,392		8,769		2,881		19,042
Bad debts	121		604		—		725
Total	24,186		32,889		2,881		59,956
Adjusted EBITDA	10,464		9,947		(2,881)		17,530
Other income (expense)	—		—		—		—
Equity based compensation	—		—		(1,526)		(1,526)
Interest expense	—		—		(2,387)		(2,387)
Depreciation and amortization	(960)		(971)		—		(1,931)
Taxes	—		—		(1,304)		(1,304)
Net income	$	9,504	$	8,976	$	(8,098)	$	10,382
At December 31, 2019:
Total Assets	$	22,676	$	15,127	$	26,825	$	64,628

Organization - Narrative (Details) $ / shares in Units, shares in Thousands, $ in Millions			12 Months Ended
	May 02, 2018	May 01, 2018 USD ($) class vote $ / shares shares	Dec. 31, 2021 location franchise vote	Dec. 31, 2020 location franchise	Dec. 31, 2019 location franchise
Subsidiary, Sale of Stock [Line Items]
Corporate-owned locations (in locations) \| location			15	9	7
Franchise locations sold (in franchises) \| franchise			405	337	247
Operating franchise locations (in franchises) \| franchise			1,198	891	614
Franchises purchased (in franchises) \| franchise			0	0	0
Number of classes (in classes) \| class		2
Vote per share (in votes) \| vote		1
Conversion ratio		1
Goosehead Management Note and Texas Wasatch Note
Subsidiary, Sale of Stock [Line Items]
Principal amount of debt \| $		$ 114
Goosehead Insurance Agency, LLC
Subsidiary, Sale of Stock [Line Items]
Ownership interest			100.00%
Goosehead Insurance Holding, LLC
Subsidiary, Sale of Stock [Line Items]
Ownership interest			100.00%
Goosehead Financial, LLC
Subsidiary, Sale of Stock [Line Items]
Ownership interest	62.70%
Class A Common Stock
Subsidiary, Sale of Stock [Line Items]
Vote per share (in votes) \| vote			1
Class A Common Stock \| Goosehead Management, LLC And Texas Wasatch Insurance Holdings Group LLC
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares)		3,724
Class A Common Stock \| Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares)		9,810
Share price (in dollars per share) \| $ / shares		$ 10.00
Class A Common Stock \| Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares)		1,280
Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Vote per share (in votes) \| vote			1
Class B Common Stock \| Pre-IPO LLC Members
Subsidiary, Sale of Stock [Line Items]
Shares issued (in shares)		22,747

Basis of presentation and significant accounting policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) carrier	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jan. 01, 2020 USD ($)
Concentration Risk [Line Items]
Restricted cash	$ 1,953,000	$ 1,323,000	$ 923,000
Carriers company wrote with \| carrier	145
Carriers company wrote with, provide national coverage \| carrier	53
Term of franchise contract	10 years
Interest related to franchise fee	$ 1,100,000	800,000	600,000
Weighted average amortization period (years)	3 years 3 days
Advertising expense	$ 1,300,000	900,000	$ 800,000
Right-of use asset	32,656,000	22,513,000		$ 11,200,000
Operating lease liability	$ 52,228,000	$ 36,136,000		$ 18,500,000
Web domain
Concentration Risk [Line Items]
Weighted average amortization period (years)	15 years
Software costs
Concentration Risk [Line Items]
Weighted average amortization period (years)	3 years
Furniture, fixtures, and equipment
Concentration Risk [Line Items]
Property, plant and equipment, useful life	5 years
Computer equipment
Concentration Risk [Line Items]
Property, plant and equipment, useful life	3 years
Royalty fees
Concentration Risk [Line Items]
Allowance for doubtful accounts	$ 0
Carrier One \| Total revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	17.00%	20.00%	16.00%
Carrier Two \| Total revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	11.00%	13.00%	10.00%
Carrier Three \| Total revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		12.00%

Basis of presentation and significant accounting policies - Restrictions on cash and cash equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 28,526	$ 24,913	$ 14,337
Restricted cash	1,953	1,323	923
Cash and cash equivalents, and restricted cash	$ 30,479	$ 26,236	$ 15,260	$ 19,011

Basis of presentation and significant accounting policies - Impact of adopting the revenue recognition standard (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	$ 151,312	$ 117,014	$ 77,486
Employee compensation and benefits	93,038	66,819	41,715
Tax expense (benefit)	(2,292)	(1,035)	1,304
Net income	$ 8,296	$ 18,755	$ 10,382
Basic (in dollars per share)	$ 0.28	$ 0.55	$ 0.24
Diluted (in dollars per share)	$ 0.26	$ 0.51	$ 0.22
Commissions and agency fees receivable, net	$ 12,056	$ 18,604
Receivable from franchisees	29,673	20,279
Deferred income taxes, net	125,676	73,363
Other assets	4,742	3,938
Accounts payable and accrued expenses	10,502	8,101
Contract liabilities	6,054	4,233
Contract with Customer, Liability	48,608	34,201	$ 22,795
Accumulated deficit	(60,671)	(34,614)
Non-controlling interests	(55,168)	(33,528)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(69,188)	(38,404)	(31,007)	$ (25,203)
Bad debt expense	2,999	1,576	725
Impact of tax receivable agreement	40,759	48,760	11,676
Deferred income taxes	(43,277)	(49,066)	(11,382)
Increase (Decrease) In Accounts Receivable - Franchise Receivable	10,599	7,085	5,161
Increase (Decrease) In Accounts Receivable - Commissions And Agency Fees Receivable	(4,722)	12,909	(2,474)
Increase (Decrease) in Other Operating Assets	805	2,581	346
Accounts payable and accrued expenses	2,956	2,541	913
Unearned revenue	0	0	(51)
Net Cash Provided by (Used in) Operating Activities	35,444	24,643	21,241
Commissions and agency fees
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	82,651	71,811	46,366
Franchise revenues
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	$ 67,508	$ 44,390	$ 30,503

Revenues - Narrative (Details)	12 Months Ended
Revenues - Narrative (Details)	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Term of franchise contract	10 years
Amortization period	10 years

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 151,312	$ 117,014	$ 77,486
Renewal Commissions
Disaggregation of Revenue [Line Items]
Revenues	39,111	28,891	22,924
New Business Commissions
Disaggregation of Revenue [Line Items]
Revenues	22,108	17,324	11,961
Agency Fees
Disaggregation of Revenue [Line Items]
Revenues	11,506	8,921	6,058
Contingent Commissions
Disaggregation of Revenue [Line Items]
Revenues	9,926	16,675	5,423
Renewal Royalty Fees
Disaggregation of Revenue [Line Items]
Revenues	46,079	29,309	19,462
New Business Royalty Fees
Disaggregation of Revenue [Line Items]
Revenues	14,616	10,623	7,149
Initial Franchise Fees
Disaggregation of Revenue [Line Items]
Revenues	6,516	4,236	3,784
Other Franchise Revenues
Disaggregation of Revenue [Line Items]
Revenues	297	222
Interest income
Disaggregation of Revenue [Line Items]
Revenues	1,153	813	$ 617
Transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	72,725	55,136
Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	78,587	61,878
Franchise Channel
Disaggregation of Revenue [Line Items]
Revenues	76,039	55,957
Franchise Channel \| Renewal Commissions
Disaggregation of Revenue [Line Items]
Revenues	0	0
Franchise Channel \| New Business Commissions
Disaggregation of Revenue [Line Items]
Revenues	0	0
Franchise Channel \| Agency Fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Franchise Channel \| Contingent Commissions
Disaggregation of Revenue [Line Items]
Revenues	7,378	10,754
Franchise Channel \| Renewal Royalty Fees
Disaggregation of Revenue [Line Items]
Revenues	46,079	29,309
Franchise Channel \| New Business Royalty Fees
Disaggregation of Revenue [Line Items]
Revenues	14,616	10,623
Franchise Channel \| Initial Franchise Fees
Disaggregation of Revenue [Line Items]
Revenues	6,516	4,236
Franchise Channel \| Other Franchise Revenues
Disaggregation of Revenue [Line Items]
Revenues	297	222
Franchise Channel \| Interest income
Disaggregation of Revenue [Line Items]
Revenues	1,153	813
Franchise Channel \| Transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	0	0
Franchise Channel \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	76,039	55,957
Corporate Channel
Disaggregation of Revenue [Line Items]
Revenues	75,273	61,057
Corporate Channel \| Renewal Commissions
Disaggregation of Revenue [Line Items]
Revenues	39,111	28,891
Corporate Channel \| New Business Commissions
Disaggregation of Revenue [Line Items]
Revenues	22,108	17,324
Corporate Channel \| Agency Fees
Disaggregation of Revenue [Line Items]
Revenues	11,506	8,921
Corporate Channel \| Contingent Commissions
Disaggregation of Revenue [Line Items]
Revenues	2,548	5,921
Corporate Channel \| Renewal Royalty Fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate Channel \| New Business Royalty Fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate Channel \| Initial Franchise Fees
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate Channel \| Other Franchise Revenues
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate Channel \| Interest income
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate Channel \| Transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	72,725	55,136
Corporate Channel \| Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	$ 2,548	$ 5,921

Revenues - Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Cost to obtain franchise contracts	$ 1,973	$ 1,412
Increase (decrease) in contract with customer, asset	561
Commissions and agency fees receivable, net	12,056	18,604
Increase (decrease) in commissions and fees receivable, net	(6,548)
Receivable from franchisees	29,673	20,279
Increase (decrease) in receivables from franchisees	9,394
Customer liability	48,608	34,201	$ 22,795
Increase (decrease) in contract liability	14,407	11,406	6,281
Contract Liability [Roll Forward]
Contract liability at beginning of period	34,201	22,795
Revenue recognized during the period	(6,516)	(4,236)
New deferrals	20,923	15,642
Contract liability at end of period	$ 48,608	$ 34,201	$ 22,795

Revenues - Contract Liability (Details) - Franchise Channel $ in Thousands	Dec. 31, 2021 USD ($)
Disaggregation of Revenue [Line Items]
2022	$ 6,054
2023	5,969
2024	5,904
2025	5,767
2026	5,629
Thereafter	19,285
Total	$ 48,608

Franchise fees receivable - Balance of Franchise Fees Receivable (Details) - Initial Franchise Fees - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Franchise fees receivable	$ 40,171	$ 25,757
Less: Unamortized discount	(9,518)	(6,553)
Less: Allowance for uncollectible franchise fees	(303)	(149)	$ (52)
Total franchise fees receivable	$ 30,350	$ 19,055

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

- Definition

Amount, before allowance for credit loss, of financing receivable.

+ References + Details

Franchise fees receivable - Roll-Forward of Allowance (Details) - Initial Franchise Fees - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 149	$ 52
Charges to bad debts	1,173	387
Write offs	(1,019)	(290)
Ending balance	$ 303	$ 149

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Allowance for uncollectible agency fees - Roll-Forward of Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for Doubtful Accounts Receivable [Roll Forward]
Bad debt expense	$ 2,999	$ 1,576	$ 725
Agency Fees
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	468	178
Bad debt expense	1,826	1,189
Write offs	(1,805)	(899)
Ending balance	$ 489	$ 468	$ 178

Property and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 37,218	$ 24,680
Less accumulated depreciation	(12,285)	(8,030)
Property and equipment, net	24,933	16,650
Depreciation expense	4,500	2,900	$ 1,700
Furniture & fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	7,283	4,404
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,369	2,453
Network equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	514	352
Phone system
Property, Plant and Equipment [Line Items]
Property and equipment, gross	937	937
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 25,115	$ 16,534

Intangible assets - Components and Expected Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Computer software & web domain	$ 4,168	$ 1,473
Less accumulated amortization	(1,370)	(924)
Intangible assets, net	$ 2,798	549
Weighted average amortization period (years)	3 years 3 days
Amortization expense	$ 400	300	$ 200
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract]
2022	577
2023	969
2024	739
2025	512
2026 and thereafter	1
Intangible assets, net	$ 2,798	$ 549

Employee benefit obligation (Details) $ in Millions	12 Months Ended
Employee benefit obligation (Details) $ in Millions	Dec. 31, 2021 USD ($) year	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Retirement Benefits [Abstract]
Minimum age to be eligible \| year	21
Minimum service period to be eligible	6 months
Employer match, percentage of salary deferral	100.00%
Employer match, percentage of compensation	3.00%
Employer match, vesting period	4 years
Matching contributions \| $	$ 1.0	$ 0.8	$ 0.6

Debt - Narrative (Details)		12 Months Ended
Debt - Narrative (Details)	Jul. 21, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Mar. 06, 2020 USD ($)
Debt Instrument [Line Items]
Leverage Ratio		3.50
Line of Credit
Debt Instrument [Line Items]
Additional commitments	$ 25,000,000
Letter of credit		$ 167,000
Remaining borrowing availability		24,800,000
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing availability	50,000,000				$ 25,000,000
Interest expense		400,000	$ 100,000	$ 500,000
Revolver balance		25,000,000
Secured Debt
Debt Instrument [Line Items]
Principal amount of debt	$ 100,000,000	98,800,000
Secured Debt \| Debt Repayment, First Twelve Months
Debt Instrument [Line Items]
Periodic payment		600,000
Secured Debt \| Debt Repayment, Second 12 Months
Debt Instrument [Line Items]
Periodic payment		1,300,000
Secured Debt \| Debt Repayment, Third Twelve Months
Debt Instrument [Line Items]
Periodic payment		1,900,000
Secured Debt \| Debt Repayment, Last Twelve Months
Debt Instrument [Line Items]
Periodic payment		$ 2,500,000
Secured Debt \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%	2.50%
Notes Payable to Banks
Debt Instrument [Line Items]
Principal amount of debt					$ 80,000,000
Debt issuance costs		$ 1,000,000

Debt - Leverage (Details)	12 Months Ended
Debt - Leverage (Details)	Dec. 31, 2021
Debt Instrument [Line Items]
Leverage Ratio	3.50
Less than 1.50
Debt Instrument [Line Items]
Leverage Ratio	1.50
Less than 1.50 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Greater than 1.50
Debt Instrument [Line Items]
Leverage Ratio	1.50
Greater than 1.50 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Greater than 2.50
Debt Instrument [Line Items]
Leverage Ratio	2.50
Greater than 2.50 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Greater than 3.50
Debt Instrument [Line Items]
Leverage Ratio	3.50
Greater than 3.50 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%

Debt - Schedule of Maturities of Note Payable (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ 4,375
2023	6,875
2024	9,375
2025	10,000
2026	68,125
Total	$ 98,750

Income taxes - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current income taxes
Federal	$ 0	$ (1,719)	$ 735
State and local	226	373	283
Total current income taxes	226	(1,346)	1,018
Deferred income taxes
Federal	(4,316)	217	260
State and local	1,798	94	26
Total deferred income taxes	(2,518)	311	286
Income tax expense (benefit)	$ (2,292)	$ (1,035)	$ 1,304

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income taxes - Schedule of Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income (loss) before taxes	$ 6,004	$ 17,720	$ 11,686
Income before taxes	6,004	17,720	11,686
Income taxes at U.S. federal statutory rate	1,261	3,720	2,454
Tax on income not subject to entity level federal income tax	(617)	(2,264)	(1,453)
Non-deductible stock compensation costs	(4,530)	(3,004)	0
Non-deductible employee moving expenses	6	1	0
Meals & Entertainment	25	47	61
State income tax, net of federal benefit	1,553	524	236
Other	10	(59)	6
Income tax expense (benefit)	$ (2,292)	$ (1,035)	$ 1,304

Income taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 8,929	$ 703
Investment in flow-through entity	116,747	72,660
Net deferred tax asset	$ 125,676	$ 73,363

Income taxes - Narrative (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Uncertain tax positions	$ 0
Domestic Tax Authority
Income Tax Contingency [Line Items]
Net operating loss carryforwards	40,200,000
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 5,500,000
LLC Units
Income Tax Contingency [Line Items]
Redemption of LLC Units (in shares)	1.5	2.6
LLC Units \| Noncontrolling interest holders
Income Tax Contingency [Line Items]
Redemption of LLC Units (in shares)	1.5	2.6	1.4
Tax Receivable Agreement
Income Tax Contingency [Line Items]
Percentage due to related parties	85.00%
Pre-IPO LLC Members \| Tax Receivable Agreement
Income Tax Contingency [Line Items]
Percentage due to related parties	85.00%
Due to related parties	$ 101,000,000	$ 62,100,000
Due to related parties, current	$ 0	$ 500,000

Stockholders' equity - Narrative (Details)	Dec. 31, 2021 vote shares	Dec. 31, 2020 shares	May 01, 2018 vote
Class of Stock [Line Items]
Vote per share (in votes)			1
Class A Common Stock
Class of Stock [Line Items]
Common stock shares outstanding (in shares) \| shares	20,198,005	18,303,649
Vote per share (in votes)	1
Class B Common Stock
Class of Stock [Line Items]
Common stock shares outstanding (in shares) \| shares	16,909,343	18,446,689
Vote per share (in votes)	1

Stockholders' equity - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pro forma earnings per share:
Income (loss) before taxes	$ 6,004	$ 17,720	$ 11,686
Less: income (loss) before taxes attributable to non-controlling interests	2,893	9,468	6,956
Income (loss) before taxes attributable to GSHD	3,111	8,252	4,730
Less: income tax expense attributable to GSHD	(2,292)	(1,035)	1,163
Net income (loss) attributable to GSHD	$ 5,403	$ 9,287	$ 3,567
Earnings per share of Class A common stock - basic (in dollars per share)	$ 0.28	$ 0.55	$ 0.24
Earnings per share of Class A common stock - diluted (in dollars per share)	$ 0.26	$ 0.51	$ 0.22
Class A Common Stock
Pro forma earnings per share:
Weighted average shares of Class A common stock outstanding - basic (in shares)	19,181	16,785	14,864
Effect of dilutive securities, stock options (in shares)	1,632	1,598	1,236
Weighted average shares of Class A common stock outstanding - diluted (in shares)	20,813	18,383	16,100
Earnings per share of Class A common stock - basic (in dollars per share)	$ 0.28	$ 0.55	$ 0.24
Earnings per share of Class A common stock - diluted (in dollars per share)	$ 0.26	$ 0.51	$ 0.22

Non-controlling interest - Narrative (Details) shares in Thousands, $ in Millions		12 Months Ended
	May 01, 2018	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 shares
Noncontrolling Interest [Line Items]
Distributions \| $		$ 0.0	$ 4.8
Noncontrolling interest holders
Noncontrolling Interest [Line Items]
Ownership interest held by non-controlling interest holders		0.480	0.540
LLC Units
Noncontrolling Interest [Line Items]
Conversion ratio	1
Redemption of LLC Units (in shares)		1,500	2,600
LLC Units \| Noncontrolling interest holders
Noncontrolling Interest [Line Items]
Redemption of LLC Units (in shares)		1,500	2,600	1,400
Class A Common Stock
Noncontrolling Interest [Line Items]
Redemption of LLC Units (in shares)		1,500	2,600
Class B Common Stock
Noncontrolling Interest [Line Items]
Redemption of LLC Units (in shares)		1,500	2,600
Pre-IPO LLC Members
Noncontrolling Interest [Line Items]
Distributions \| $			$ 2.7
Goosehead Insurance, Inc. \| LLC Units
Noncontrolling Interest [Line Items]
Distributions \| $			$ 2.2

Non-controlling interest - Ownership interests (Details) - shares shares in Thousands				12 Months Ended
	Aug. 09, 2021	Aug. 10, 2020	Mar. 18, 2019	Dec. 31, 2021	Dec. 31, 2020
Noncontrolling Interest [Line Items]
Number of LLC units outstanding (in shares)	36,830	36,539	36,285	37,107	36,751
Noncontrolling interest, ownership percentage				100.00%	100.00%
Goosehead Financial, LLC
Noncontrolling Interest [Line Items]
Ownership interest held by Goosehead Insurance, Inc.				54.40%	49.80%
Noncontrolling interest holders
Noncontrolling Interest [Line Items]
Ownership interest held by non-controlling interest holders				45.60%	50.20%
Parent
Noncontrolling Interest [Line Items]
Number of LLC units outstanding (in shares)				20,198	18,304
Non-controlling interest
Noncontrolling Interest [Line Items]
Number of LLC units outstanding (in shares)				16,909	18,447

Non-controlling interest - Effect of changes in ownership interests on equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Net Income attributable to Goosehead Insurance Inc.	$ 5,403	$ 9,287	$ 3,567
Decrease in additional paid-in capital as a result of the redemption of LLC interests	0	0	0
Increase in additional paid-in capital as a result of activity under employee stock purchase plan	796	542	325
Total effect of changes in ownership interest on equity attributable to Goosehead Insurance Inc.	2,471	6,304	2,524
Parent
Noncontrolling Interest [Line Items]
Decrease in additional paid-in capital as a result of the redemption of LLC interests	(3,728)	(3,525)	(1,368)
Increase in additional paid-in capital as a result of activity under employee stock purchase plan	$ 796	$ 542	$ 325

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

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+ Details

Equity-based compensation - Schedule of Equity-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 7,292	$ 4,745	$ 1,526
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 7,292	$ 4,745	$ 1,526

Equity-based compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions				12 Months Ended
	Jan. 04, 2021	Apr. 01, 2020	May 01, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 07, 2019	Apr. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)				154,000	1,010,000	80,000
Grant price (in dollars per share)				$ 47.43	$ 16.16	$ 10.19
Exercise price (in dollars per share)				$ 131.87	$ 41.24	$ 34.50
Proceeds from stock options exercised				$ 4.6
Total fair value of stock options vested				$ 2.6	$ 1.7	$ 0.4
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)							3,000,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)							30,000
Shares outstanding (in shares)				21,000	13,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost				$ 5.2
Period for recognition				2 years 3 months 14 days
Directors and certain employees \| Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)			1,650,000
Directors and certain employees \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant price (in dollars per share)			$ 10.00
Director \| Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)			365,000
Director \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Period for recognition				3 years
Employee \| Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)			1,285,000
Employee \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition				4 years
Managing Directors \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)		900,000
Grant price (in dollars per share)		$ 16.31
Exercise price (in dollars per share)		$ 40.88
Board of Directors and Managing Directors \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	153,500
Grant price (in dollars per share)	$ 47.43
Exercise price (in dollars per share)	$ 131.87
Class A Common Stock \| Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)								1,500,000
Class A Common Stock \| Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)								20,000

Equity-based compensation - Schedule of Stock Options Valuation Assumptions (Details) - Stock Options - USD ($)			12 Months Ended
	Jan. 04, 2021	Apr. 01, 2020	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	45.00%	40.00%	25.00%
Expected dividend yield	$ 0	$ 0	$ 0
Expected term (in years)	4 years 3 months	6 years 6 months	5 years 11 months 12 days
Risk-free interest rate	0.29%	0.47%	2.59%

Equity-based compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock Option Activity
Beginning balance, outstanding (in shares)	2,290	1,730	1,650
Granted (in shares)	154	1,010	80
Exercised (in shares)	(351)	(450)	0
Forfeited (in shares)	(24)	0	0
Expired (in shares)	0	0	0
Ending balance, outstanding, (in shares)	2,069	2,290	1,730
Options vested and exercisable as of December 31, 2021 (in shares)	466
Options expected to vest as of December 31, 2021 (in shares)	1,603
Stock Options, Weighted Average Exercise Price
Beginning balance, outstanding, weighted average exercise price (in dollars per share)	$ 24.63	$ 11.13	$ 10.00
Granted (in dollars per share)	131.87	41.24	34.50
Exercised (in dollars per share)	10.83	10.00	0
Forfeited (in dollars per share)	45.45	0	0
Expirations (in dollars per share)	0	0	0
Ending balance, outstanding, weighted average exercise price (in dollars per share)	34.68	$ 24.63	$ 11.13
Options vested and exercisable as of December 31, 2021 (in dollars per share)	15.38
Options expected to vest as of December 31, 2021 (in dollars per share)	$ 40.23
Stock Option Activity, Additional Disclosures
Beginning balance, outstanding aggregate intrinsic value	$ 20,901	$ 5,969	$ 5,153
Granted, aggregate intrinsic value	7,280	16,322	816
Exercised, aggregate intrinsic value	1,186	1,390	0
Forfeited, aggregate intrinsic value	370	0	0
Expired, aggregate intrinsic value	0	0	0
Ending balance, outstanding aggregate intrinsic value	26,625	$ 20,901	$ 5,969
Options vested and exercisable as of December 31, 2021, intrinsic value	2,265
Options expected to vest as of December 31, 2021, intrinsic value	$ 24,360
Outstanding as of December 31, 2021, Weighted Average Remaining Contractual Life (Years)	7 years 5 months 4 days
Options vested and exercisable as of December 31, 2021, Weighted Average Remaining Contractual Life (Years)	6 years 4 months 17 days
Options expected to vest as of December 31, 2021, Weighted Average Remaining Contractual Life (Years)	7 years 8 months 23 days

Equity-based compensation - Summary of Unvested Stock Option Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock Options
Unvested at beginning of year (in shares)	1,977	1,517	1,559
Vested (in shares)	(504)	(550)	(122)
Granted (in shares)	154	1,010	80
Forfeited (in shares)	(24)	0	0
Unvested at end of year (in shares)	1,603	1,977	1,517
Weighted Average Grant-Date Fair Value
Unvested at beginning of year (in dollars per share)	$ 10.09	$ 3.15	$ 3.13
Vested (in dollars per share)	5.09	3.12	2.96
Granted (in dollars per share)	47.43	16.16	10.19
Forfeited (in dollars per share)	15.44	0	0
Unvested at end of year (in dollars per share)	$ 15.20	$ 10.09	$ 3.15

Dividends - Summary of total estimated dividends to be paid (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands							12 Months Ended
	Aug. 09, 2021	Jul. 28, 2021	Aug. 10, 2020	Jul. 30, 2020	Mar. 18, 2019	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020
Dividends Payable [Line Items]
Dividends declared	$ 60,000		$ 42,000		$ 15,000
LLC units held (in shares)	36,830		36,539		36,285		37,107	36,751
LLC Units
Dividends Payable [Line Items]
Dividends declared		$ 60,000		$ 42,000		$ 15,000
Class A Common Stock
Dividends Payable [Line Items]
Dividends declared	$ 31,657		$ 19,843		$ 5,962
Dividends per share (in dollars per share)	$ 1.63		$ 1.15		$ 0.41
LLC units held (in shares)	19,429		17,263		14,421
Class B Common Stock
Dividends Payable [Line Items]
Dividends declared	$ 28,343		$ 22,157		$ 9,038
LLC units held (in shares)	17,401		19,276		21,864

Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020
Leases [Abstract]
Future maturity of lease liability	$ 52,228	$ 36,136	$ 18,500
Operating lease ROU asset	$ 32,656	$ 22,513	$ 11,200
Operating leases, lease term	7 years
Future operating lease commitments, not yet commenced	$ 12,600
Operating lease, not yet commenced, lease term	7 years

Leases - Lease Information, Rent Expense and Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020
Lease Information:
Right-of use asset	$ 32,656	$ 22,513	$ 11,200
Short term lease liabilities	4,893	3,203
Long term lease liabilities	47,335	32,933
Total lease liabilities	$ 52,228	$ 36,136	$ 18,500
Weighted average remaining lease term (in years)	8 years 1 month 6 days	9 years 2 months 23 days
Weighted average incremental borrowing rate	3.10%	3.10%
Rent Expense:
Gross operating lease cost	$ 4,798	$ 3,111
Sublease income	(7)	(25)
Net lease cost	4,791	3,086
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	(16,092)	(36,136)
Right of use assets obtained in exchange for lease obligation
Operating leases	$ 10,143	$ 22,513

Leases - Future Minimum Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020
Leases [Abstract]
2022	$ 5,680
2023	7,465
2024	7,509
2025	7,557
2026	7,443
Thereafter	24,019
Total lease payments	59,673
Less: imputed interest	(7,445)
Future maturity of lease liability	$ 52,228	$ 36,136	$ 18,500

Segment information - Schedule of Segment Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Segment Reporting [Abstract]
Number of reportable segments (in segments) \| segment	2
Revenues:
Revenues	$ 151,312	$ 117,014	$ 77,486
Other Franchise Revenues	297	222	108
Interest Income	1,153	813	617
Operating Expenses:
Employee compensation and benefits, excluding equity-based compensation	85,746	62,074	40,189
General and administrative expenses	41,729	25,532	19,042
General and administrative expense, excluding state franchise tax			19,042
Bad debts	2,999	1,576	725
Total	130,474	89,182	59,956
Adjusted EBITDA	20,838	27,832	17,530
Other income	185	90	0
Other income (expense)			0
Equity based compensation	(7,292)	(4,745)	(1,526)
Interest expense	(2,854)	(2,310)	(2,387)
Depreciation and amortization	(4,873)	(3,147)	(1,931)
Tax expense (benefit)	2,292	1,035	(1,304)
Net Income	8,296	18,755	10,382
Total Assets	267,798	185,837	64,628
Franchise Channel
Revenues:
Revenues	76,039	55,957
Corporate Channel
Revenues:
Revenues	75,273	61,057
Operating Segments \| Franchise Channel
Revenues:
Revenues	76,039	55,957	34,650
Other Franchise Revenues	297	222	108
Interest Income	1,153	813	617
Operating Expenses:
Employee compensation and benefits, excluding equity-based compensation	32,975	26,231	16,673
General and administrative expenses	18,439	9,618
General and administrative expense, excluding state franchise tax			7,392
Bad debts	1,173	387	121
Total	52,587	36,236	24,186
Adjusted EBITDA	23,452	19,721	10,464
Other income	77	90
Other income (expense)			0
Equity based compensation	0	0	0
Interest expense	0	0	0
Depreciation and amortization	(2,965)	(1,775)	(960)
Tax expense (benefit)	0	0	0
Net Income	20,564	18,036	9,504
Total Assets	57,164	82,804	22,676
Operating Segments \| Corporate Channel
Revenues:
Revenues	75,273	61,057	42,836
Other Franchise Revenues	0	0	0
Interest Income	0	0	0
Operating Expenses:
Employee compensation and benefits, excluding equity-based compensation	52,771	35,843	23,516
General and administrative expenses	20,504	12,058
General and administrative expense, excluding state franchise tax			8,769
Bad debts	1,826	1,189	604
Total	75,101	49,090	32,889
Adjusted EBITDA	172	11,967	9,947
Other income	108	0
Other income (expense)			0
Equity based compensation	0	0	0
Interest expense	0	0	0
Depreciation and amortization	(1,908)	(1,372)	(971)
Tax expense (benefit)	0	0	0
Net Income	(1,628)	10,595	8,976
Total Assets	43,819	25,609	15,127
Other
Revenues:
Revenues	0	0	0
Other Franchise Revenues	0	0	0
Interest Income	0	0	0
Operating Expenses:
Employee compensation and benefits, excluding equity-based compensation	0	0	0
General and administrative expenses	2,786	3,856
General and administrative expense, excluding state franchise tax			2,881
Bad debts	0	0	0
Total	2,786	3,856	2,881
Adjusted EBITDA	(2,786)	(3,856)	(2,881)
Other income	0	0
Other income (expense)			0
Equity based compensation	(7,292)	(4,745)	(1,526)
Interest expense	(2,854)	(2,310)	(2,387)
Depreciation and amortization	0	0	0
Tax expense (benefit)	2,292	1,035	(1,304)
Net Income	(10,640)	(9,876)	(8,098)
Total Assets	166,815	77,424	26,825
Renewal Commissions
Revenues:
Revenues	39,111	28,891	22,924
Renewal Commissions \| Franchise Channel
Revenues:
Revenues	0	0
Renewal Commissions \| Corporate Channel
Revenues:
Revenues	39,111	28,891
Renewal Commissions \| Operating Segments \| Franchise Channel
Revenues:
Revenues	0	0	0
Renewal Commissions \| Operating Segments \| Corporate Channel
Revenues:
Revenues	39,111	28,891	22,924
Renewal Commissions \| Other
Revenues:
Revenues	0	0	0
Agency Fees
Revenues:
Revenues	11,506	8,921	6,058
Agency Fees \| Franchise Channel
Revenues:
Revenues	0	0
Agency Fees \| Corporate Channel
Revenues:
Revenues	11,506	8,921
Agency Fees \| Operating Segments \| Franchise Channel
Revenues:
Revenues	0	0	0
Agency Fees \| Operating Segments \| Corporate Channel
Revenues:
Revenues	11,506	8,921	6,058
Agency Fees \| Other
Revenues:
Revenues	0	0	0
New Business Commissions
Revenues:
Revenues	22,108	17,324	11,961
New Business Commissions \| Franchise Channel
Revenues:
Revenues	0	0
New Business Commissions \| Corporate Channel
Revenues:
Revenues	22,108	17,324
New Business Commissions \| Operating Segments \| Franchise Channel
Revenues:
Revenues	0	0	0
New Business Commissions \| Operating Segments \| Corporate Channel
Revenues:
Revenues	22,108	17,324	11,961
New Business Commissions \| Other
Revenues:
Revenues	0	0	0
Contingent Commissions
Revenues:
Revenues	9,926	16,675	5,423
Contingent Commissions \| Franchise Channel
Revenues:
Revenues	7,378	10,754
Contingent Commissions \| Corporate Channel
Revenues:
Revenues	2,548	5,921
Contingent Commissions \| Operating Segments \| Franchise Channel
Revenues:
Revenues	7,378	10,754	3,530
Contingent Commissions \| Operating Segments \| Corporate Channel
Revenues:
Revenues	2,548	5,921	1,893
Contingent Commissions \| Other
Revenues:
Revenues	0	0	0
Commissions and agency fees
Revenues:
Revenues	82,651	71,811	46,366
Commissions and agency fees \| Operating Segments \| Franchise Channel
Revenues:
Revenues	7,378	10,754	3,530
Commissions and agency fees \| Operating Segments \| Corporate Channel
Revenues:
Revenues	75,273	61,057	42,836
Commissions and agency fees \| Other
Revenues:
Revenues	0	0	0
Renewal Royalty Fees
Revenues:
Revenues	46,079	29,309	19,462
Renewal Royalty Fees \| Franchise Channel
Revenues:
Revenues	46,079	29,309
Renewal Royalty Fees \| Corporate Channel
Revenues:
Revenues	0	0
Renewal Royalty Fees \| Operating Segments \| Franchise Channel
Revenues:
Revenues	46,079	29,309	19,462
Renewal Royalty Fees \| Operating Segments \| Corporate Channel
Revenues:
Revenues	0	0	0
Renewal Royalty Fees \| Other
Revenues:
Revenues	0	0	0
New Business Royalty Fees
Revenues:
Revenues	14,616	10,623	7,149
New Business Royalty Fees \| Franchise Channel
Revenues:
Revenues	14,616	10,623
New Business Royalty Fees \| Corporate Channel
Revenues:
Revenues	0	0
New Business Royalty Fees \| Operating Segments \| Franchise Channel
Revenues:
Revenues	14,616	10,623	7,149
New Business Royalty Fees \| Operating Segments \| Corporate Channel
Revenues:
Revenues	0	0	0
New Business Royalty Fees \| Other
Revenues:
Revenues	0	0	0
Initial Franchise Fees
Revenues:
Revenues	6,516	4,236	3,784
Initial Franchise Fees \| Franchise Channel
Revenues:
Revenues	6,516	4,236
Initial Franchise Fees \| Corporate Channel
Revenues:
Revenues	0	0
Initial Franchise Fees \| Operating Segments \| Franchise Channel
Revenues:
Revenues	6,516	4,236	3,784
Initial Franchise Fees \| Operating Segments \| Corporate Channel
Revenues:
Revenues	0	0	0
Initial Franchise Fees \| Other
Revenues:
Revenues	0	0	0
Franchise Revenues
Revenues:
Revenues	67,508	44,390	30,503
Franchise Revenues \| Operating Segments \| Franchise Channel
Revenues:
Revenues	67,508	44,390	30,503
Franchise Revenues \| Operating Segments \| Corporate Channel
Revenues:
Revenues	0	0	0
Franchise Revenues \| Other
Revenues:
Revenues	0	0	0
Interest income
Revenues:
Revenues	1,153	813	617
Interest Income	1,153	813	617
Interest income \| Franchise Channel
Revenues:
Revenues	1,153	813
Interest income \| Corporate Channel
Revenues:
Revenues	0	0
Interest income \| Operating Segments \| Franchise Channel
Revenues:
Interest Income	1,153	813	617
Interest income \| Operating Segments \| Corporate Channel
Revenues:
Interest Income	0	0	0
Interest income \| Other
Revenues:
Interest Income	$ 0	$ 0	$ 0

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2014-09 [Member]

- Definition

Indicates amendment to accounting standards.

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+ Details