SelectQuote slides after lowering FY26 guidance

Selectquote

05/02/2026 17:35

** Shares of insurance comparison platform SelectQuote SLQT.N fall 23% to $1.1

** Co now expects FY26 revenue between $1.61 billion and $1.71 billion from a prior range of $1.65 billion to $1.75 billion

** Co says fiscal 2026 guidance impacted by a national carrier's decision to limit Medicare Advantage policy volume and pharmacy benefit manager reimbursement changes

** MA plans are privately run health plans approved by the U.S. government as an alternative to traditional Medicare

** PBMs act as middlemen in the prescription drug system and determines how much pharmacies are reimbursed per prescription

** Including session's move, SLQT down 75.2% in the last 12 months

 (Reporting by Pragyan Kalita in Bengaluru)

 ((Pragyan.Kalita@thomsonreuters.com;))