Veteran health insurance broker SelectQuote (SLQT -12.17%) wasn't quite looking like the wave of the future on Monday. The company's shares took a 12% hit on the day, following management's release of the latest set of quarterly figures. That was in rather sharp contrast to the overall stock market, where the benchmark S&P 500 index rose by a relatively steep 3.3%.

Healthy growth, but a bottom-line miss

For its fiscal third quarter of 2025, SelectQuote reaped just over $408 million in total revenue, up from the more than $376 million it earned in the same period of fiscal 2024. Generally accepted accounting principles (GAAP) net income came in at over $26 million ($0.03 per share), more than triple the under-$8.6 million profit of the year-ago period.

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Although those increases were nothing to sneeze at, the company missed on the bottom line, if only slightly. On average, analysts tracking SelectQuote stock were modeling $0.04 per share net income. The company did beat on revenue, however, as the average pundit estimate was a bit over $402 million.

In its earnings release, SelectQuote quoted CEO Tim Danker as saying that "SelectQuote's agent-led model paired with our technology-enabled information advantage made our platform more valuable than ever to participants in the healthcare ecosystem."

Troubling accusations

However, investors might have been more concerned with what SelectQuote and its management team didn't say. In the earnings release, it didn't further address allegations brought by the government's Department of Justice (DoJ) in a complaint that the company -- along with peer health insurance brokers -- accepted illegal "kickback" payments by top insurers.

That, despite the fact that SelectQuote issued a press release Friday saying that it "strongly disagrees" with the allegations. It also vowed to defend itself against the DoJ's accusations, predicting a positive outcome for it in the case.