Neptune Insurance Holdings Inc. Reports Fourth Quarter and Full Year 2025 Results

Core Insights - Neptune Insurance Holdings Inc. reported record financial results for Q4 and FY 2025, highlighting significant growth in new business sales and premiums [1][4]. Financial Performance Highlights Fourth Quarter 2025 - New business sales reached record levels - Written Premium increased by 41% to $100.3 million - Adjusted EBITDA grew by 34% to $25.9 million, achieving a 59% margin - Adjusted Net Income rose by 25% to $15.3 million - Net income decreased by 63% to $4.3 million, impacted by $4.6 million in IPO-related expenses - Revenue increased by 39% to $43.8 million [1][3]. Full Year 2025 - New business sales also set annual records - Written Premium grew by 34% to $367.3 million - Adjusted EBITDA increased by 32% to $95.0 million, with a 60% margin - Adjusted Net Income rose by 38% to $56.9 million - Net income grew by 8% to $37.4 million, including $13.1 million in IPO-related expenses - Revenue increased by 34% to $159.6 million [1][2][4]. Key Performance Indicators - Adjusted EBITDA per Employee increased by 14% to $1.6 million - Revenue per Employee grew by 15% to $2.7 million - Average number of employees rose by 15.8% to 605 [1][3]. Non-GAAP Financial Measures - Adjusted EBITDA is derived from net income, excluding certain expenses, providing a clearer representation of operating performance - Adjusted Net Income excludes specific one-time expenses, offering a better view of ongoing profitability [2][4]. Company Overview - Neptune Insurance Holdings Inc. operates as a managing general agent, specializing in residential and commercial insurance products, particularly flood insurance - The company utilizes advanced data science and artificial intelligence to streamline underwriting and policy issuance, operating without human underwriters [1][4].