Hippo Holdings Inc.

Listed Company

HIPOWCIK 0001828105OTCAcceleratedEmerging GrowthFire, Marine & Casualty InsuranceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$468.60M

Net Income

$57.70M

Total Assets

$1.91B

Equity

$436.10M

Shares Out

26.04M

Op. Cash Flow

$9.20M

Business

Hippo Holdings Inc. is an insurance holding company that provides property and casualty insurance products and related services to individuals and businesses. The company offers Hippo-branded homeowners insurance, agency distribution services, digital insurance platforms, and insurance capacity through its fronting and reinsurance arrangements. Operations are conducted through its Services segment (including a consumer agency and digital agent platform), an Insurance-as-a-Service business managed by Spinnaker, and the Hippo Home Insurance Program. The company sells primarily in the United States through direct, agent and partner channels.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net earned premium	380	273	108	43	39
Commission income, net	51	64	63	54	38
Service and fee income	12	12	16	14	15
Net investment income	25	24	23	9	300,000
Total revenue, net	469	372	210	120	91
Losses and loss adjustment expenses	230	209	182	101	84
Insurance related expenses	131	89	79	60	42
Technology and development expenses	33	31	47	58	36
Sales and marketing expenses	34	51	80	102	95
General and administrative expenses	67	71	80	72	49
Impairment and restructuring charges	5	4	6	55	0
Gain on sale of business	−95	−54	0	0	—
Interest and other (income) expense, net	1	−100,000	−800,000	—	—
Total expenses	405	400	472	445	458
Income (loss) before income taxes	63	−27	−263	−325	−367
Income tax expense	700,000	1	500,000	1	700,000
Net income (loss)	63	−29	−263	−327	−368
Net income attributable to noncontrolling interests, net of tax	5	12	10	7	4
Net income (loss) attributable to Hippo	58	−41	−273	−333	−371
Change in net unrealized gain on investments, net of tax	—	200,000	4	−6	−800,000
Comprehensive income (loss) attributable to Hippo	—	−40	−269	−340	−372
Net income (loss) per share attributable to Hippo - basic (in dollars per share)	2.28	−1.64	−11.58	−14.66	−34.11
Net income (loss) per share attributable to Hippo - diluted (in dollars per share)	2.22	−1.64	−11.58	−14.66	−34.11
Weighted average shares common shares outstanding - basic (in shares)	25	25	24	23	11
Weighted average shares common shares outstanding - diluted (in shares)	26	25	24	23	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fixed maturities available-for-sale, at fair value (amortized cost: $291.7 and $208.3)	293	206	162	—	—
Short-term investments, at fair value (amortized cost: $152.5 and $167.6)	153	168	187	—	—
Total investments	446	373	349	446	64
Cash and cash equivalents	218	198	142	195	776
Restricted cash	32	35	53	50	43
Accounts receivable, net of allowance of $0.2 and $0.6	250	167	145	107	57
Reinsurance recoverable on paid and unpaid losses and loss adjustment expenses	347	285	281	286	267
Prepaid reinsurance premiums	354	274	336	310	232
Ceding commissions receivable	99	80	74	46	42
Capitalized internal use software	43	48	48	39	26
Intangible assets	14	17	27	27	32
Other assets	104	66	69	64	52
Total assets	1,906	1,543	1,525	1,569	1,643
Losses and loss adjustment expense reserve	420	350	323	294	261
Unearned premiums	580	458	419	341	253
Reinsurance premiums payable	304	249	260	207	159
Provision for commission	36	34	25	5	12
Surplus note	48	0	—	—	—
Accrued expenses and other liabilities	81	87	114	128	95
Total liabilities	1,469	1,178	1,140	975	781
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock, $0.0001 par value; 80,000,000 shares authorized as of both December 31, 2025 and 2024; 25,699,704 and 24,866,803 shares issued and outstanding as of December 31, 2025 and 2024, respectively	0	0	0	0	0
Additional paid-in capital	1,652	1,640	1,615	1,558	1,488
Accumulated other comprehensive income (loss)	2	−3	−3	−7	−700,000
Accumulated deficit	−1,217	−1,275	−1,234	−961	−628
Total Hippo stockholders equity	436	362	378	590	860
Noncontrolling interest	0	3	7	4	2
Total stockholders equity	436	365	385	594	862
Total liabilities and stockholders equity	1,906	1,543	1,525	1,569	1,643
Common stock, shares outstanding (in shares)	26	25	24	23	23
Common stock, shares issued (in shares)	26	25	24	23	23

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	20	23	20	15	11
Stockbased compensation expense	29	38	58	62	24
Fair value adjustments	−600,000	2	5	100,000	—
Impairment and restructuring charges	5	3	3	54	—
Other non-cash items	−8	−6	−7	−3	2
Accounts receivable, net	−85	−22	−38	−51	−20
Reinsurance recoverables	−61	−4	5	−19	−133
Ceding commissions receivable	−19	−6	−28	−4	−20
Prepaid reinsurance premiums	−80	61	−26	−78	−102
Other assets	−16	−6	6	9	−33
Provision for commission	2	10	20	−7	−16
Accrued expenses and other liabilities	7	−18	−6	20	35
Losses and loss adjustment expense reserves	70	28	29	33	156
Unearned premiums	122	39	78	88	103
Reinsurance premiums payable	56	−12	53	48	73
Net cash provided by (used in) operating activities	9	48	−92	−162	−125
Capitalized internal use software costs	−13	−12	−17	−15	−13
Purchases of property and equipment	−100,000	−300,000	−30	−5	−800,000
Purchases of fixed maturities	−138	−98	−55	−89	−26
Maturities of fixed maturities	52	49	16	10	6
Sales of fixed maturities	3	1	3	7	11
Purchases of short-term investments	−288	−270	−354	−704	—
Maturities of short-term investments	299	286	472	391	—
Sales of short-term investments	8	200,000	27	700,000	—
Proceeds from sale of business, net	66	67	0	0	—
Other	0	6	−3	−2	−3
Net cash provided by (used in) investing activities	−11	30	58	−406	−30
Proceeds from surplus note, net	48	0	0	—	—
Taxes paid related to net share settlement of equity awards	−9	−10	−5	−4	0
Proceeds from issuance of common stock	4	7	3	4	—
Share repurchases under program	−15	−16	−2	0	—
Payments of contingent consideration	−400,000	−900,000	−1	−2	−2
Acquisitions of noncontrolling interests	0	−200,000	−3	0	—
Distributions to noncontrolling interests and other	−8	−20	−6	−5	—
Net cash used in financing activities	19	−40	−15	−7	481
Net increase (decrease) in cash, cash equivalents, and restricted cash	17	38	−49	−574	326

Filings

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