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

BUZZ-SelectQuote slides after lowering FY26 guidance