From Renewed Commitments to DIY Home Maintenance to Purchasing Flood Insurance, U.S. Homeowners Embrace Proactive Strategies to Protect Their InvestmentPALO ALTO, Calif., Jan. 8, 2025 /PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today released findings from its third annual Housepower Report. The national survey of over 2,000 U.S. homeowners revealed the creative steps homeowners are taking to protect their homes in 2025."In 2024, when faced with unexpec ...

PALO ALTO, Calif., Dec. 4, 2024 /PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, announced the appointment of Andrea Collins as Chief Marketing Officer today. With more than two decades of marketing experience, including her previous role as Hippo's Vice President of Marketing from 2017 to 2022, Collins returns to the company's leadership team to oversee marketing. Andrea Collins, Chief Marketing Officer at Hippo "I am thrilled to welcome back such an a ...

Financial Data and Key Metrics - Total Generated Premium (TGP) grew 21% YoY to $368 million in Q3 2024 [16] - Revenue increased 65% YoY to $95 million, up from $58 million in Q3 2023 [18] - Net loss improved by 84% YoY to $8.5 million, driven by a 67 percentage point improvement in the HHIP net loss ratio and better operating leverage [27] - Adjusted EBITDA loss improved by 81% YoY to $7.5 million [28] - Cash and investments increased by $54 million QoQ to $545 million, driven by higher reinsurance collections and proceeds from the sale of a shell insurance carrier [29] Business Line Performance - TGP in the Hippo Home Insurance Program (HHIP) segment declined 18% YoY due to reduced exposure to high-CAT geographies [16] - TGP in the Insurance-as-a-Service segment grew 12% YoY, while the Services segment saw 46% TGP growth [16] - The Services and Insurance-as-a-Service segments accounted for 81% of total TGP, up from 74% a year ago [17] - HHIP non-PCS accident period loss ratio improved by 15 percentage points YoY to 52%, driven by aggressive rate and underwriting actions [21] - Total HHIP accident period loss ratio improved by 22 percentage points YoY to 70% [23] Market and Geographic Performance - The company expanded its New Homes program in California, Florida, and Texas, adding new builder partners Perry Homes and Van Daele [10] - By year-end, the company expects to provide insurance access for nearly 50,000 new homes annually in these states [11] - The company has access to approximately 200,000 new homes annually through existing partners, with an addressable market of 1.5 million new homes expected in 2025 [37] Strategic Direction and Industry Competition - The company sold a majority stake in First Connect Insurance Services for $48 million, with potential additional proceeds of up to $12 million based on performance targets [11][31] - The transaction allows the company to focus on its core business while enabling First Connect to invest in its growth [12][32] - The company repurchased and retired 957,242 shares, representing 3.8% of total shares outstanding, using proceeds from the First Connect sale [33] - The company is prioritizing the remediation of its legacy HHIP portfolio while accelerating growth in new builder channels [45] Management Commentary on Operating Environment and Future Outlook - Management highlighted significant improvements in loss ratios and operating leverage, driven by strategic investments and underwriting actions [8][15] - The company expects Q4 2024 revenue of $95 million to $99 million and adjusted EBITDA of $5 million to $6 million, despite the impact of Hurricane Milton [35] - Management remains optimistic about the company's path to profitability and future growth opportunities [13][49] Other Important Information - The company referred to non-GAAP financial measures such as TGP and adjusted EBITDA, with reconciliations provided in the shareholder letter [7] - The sale of First Connect will lower Q4 TGP by $50 million to $60 million and revenue by $1.5 million to $1.8 million, with a negligible impact on net loss and adjusted EBITDA [34] Q&A Session Summary Question: Entry into California, Florida, and Texas homebuilder markets - The company clarified that it is not entering these states but expanding partnerships with additional homebuilders in these regions [36] - The company has access to approximately 200,000 new homes annually and expects an addressable market of 1.5 million new homes in 2025 [37] Question: Retention rates and loss ratios in the homebuilders' channel - Retention rates are high, with policies transitioning from new construction to traditional homeowner policies as homes age [38] - Early data suggests new homes have better loss ratios than older homes, particularly in non-weather losses [39] Question: Impact of First Connect sale on EBITDA - The sale has a small positive impact on adjusted EBITDA, as First Connect was not yet profitable [40] Question: Rationale for selling the shell insurance carrier - The sale involved a dormant asset, Mainsail, which was redundant given the company's other assets [43][44] Question: Growth outlook for HHIP and other segments - The company is focused on remediating the legacy HHIP portfolio while writing new business in areas with favorable loss ratios [45] - Growth in the Insurance-as-a-Service and Services segments is expected to outpace HHIP in the near term [46] Question: Share repurchase strategy - The company repurchased shares opportunistically using proceeds from the First Connect sale and may continue to explore buybacks as it approaches profitability [47]

Hippo Holdings Inc. (HIPO) came out with a quarterly loss of $0.34 per share versus the Zacks Consensus Estimate of a loss of $1. This compares to loss of $2.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66%. A quarter ago, it was expected that this company would post a loss of $1.77 per share when it actually produced a loss of $1.64, delivering a surprise of 7.34%.Over the last four quarters, the company has surpassed c ...

PALO ALTO, Calif., Nov. 8, 2024 /PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today announced its consolidated financial results for the three months that ended September 30, 2024."The positive momentum we've built over the past year continued in the third quarter as we took a significant step forward on our path to profitability," said Hippo President and CEO Rick McCathron. "We strengthened our foundation for future growth by continuing to develop our H ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. Commission file number 001-39711 HIPPO HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 32-0662604 (State o ...

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Hippo Holdings Inc. (HIPO) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

Hippo Holdings Inc. (HIPO) shares soared 18.2% in the last trading session to close at $22.17. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.4% gain over the past four weeks.Growth in placements of policies for customers with third-party carriers and growth of existing programs boosted by higher risk retention with some of the programs.  should continue to drive solid performance of services and insurance segments.Leveraging ...

Shares of Hippo Holdings Inc. (HIPO) have gained 0.8% over the past four weeks to close the last trading session at $18.27, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $24.67 indicates a potential upside of 35%. The mean estimate comprises three short-term price targets with a standard deviation of $3.51. While the lowest estimate of $21 indicates a 14.9% increase from the c ...