Core Insights - Hippo reported a 30% year-over-year increase in Q1 revenue, reaching $110 million, driven by a 91% growth in IaaS revenue and a 12% increase in HHIP revenue [7][5] - The company experienced a significant increase in gross written premium, with a 35% year-over-year rise in its homebuilder channel and a 21% increase in written premium outside the Hippo Home Insurance Program [2] - Hippo announced a $50 million surplus note agreement to support the growth of diversified product lines via the Spinnaker platform, reflecting investor confidence in the company's growth trajectory [2][3] Financial Performance - The consolidated net loss attributable to Hippo increased by $12 million year-over-year to $48 million, primarily due to the impact of the LA wildfires, which contributed $45 million to the losses [8][7] - The HHIP gross loss ratio was reported at 121%, a 41 percentage point increase year-over-year, with the LA wildfires contributing 56 percentage points to this increase [7] - Operating expenses decreased by $7 million year-over-year, resulting in an 18 percentage point reduction in these costs as a percentage of revenue, from 48% in Q1 2024 to 30% in Q1 2025 [5] Strategic Initiatives - The company is focused on proactive customer support, particularly for those affected by the Los Angeles wildfires, as part of its long-term value drivers [2] - An Investor Day is scheduled for June 12, 2025, where senior leadership will present the company's strategic direction and long-term financial targets [3] - Hippo's cash and investments, excluding restricted cash, decreased by $42 million quarter-over-quarter to $528 million, largely due to losses from the LA wildfires [8]

Financial Results Announcement - Hippo will release its first quarter financial results after market close on May 7, 2025 [1] - A conference call and live webcast for analysts and investors will take place at 5:00 PM ET / 2:00 PM PT on the same day [1][3] - A shareholder letter with the financial results will be available on the company's investor relations website prior to the conference call [1] Investor Day - The company will host an Investor Day on June 12, 2025, in New York City [2] - The event will feature presentations and Q&A sessions with Hippo's senior management regarding long-term growth strategy and financial goals [2] - Attendance is by invitation only, with more information to be provided closer to the event date [2] Company Overview - Hippo focuses on proactive home protection, safeguarding customers' financial assets through real-time data and a suite of home services [3] - Operating subsidiaries include Hippo Insurance Services, Hippo Builder Insurance Agency, Hippo Home Care, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company [3] - Hippo Insurance Services and Hippo Builder Insurance Agency are licensed property casualty insurance agents with products underwritten by various affiliated and unaffiliated insurance companies [3]