Hippo Holdings Inc. (NYSE: HIPO) reported fourth‑quarter 2025 results that surpassed analyst expectations, delivering diluted earnings per share of $0.23 and adjusted EPS of $0.67. Total revenue rose to $120.4 million from $102.0 million a year earlier, while net income swung to $6 million after a $44 million net profit in Q4 2024 that was bolstered by a one‑time gain on a sale. Gross written premium climbed 40% to $287.9 million and net written premium increased 23% to $97.2 million, and the combined ratio improved to 99.4%, indicating underwriting profitability for the quarter.
The adjusted EPS beat the consensus estimate of $0.38 (and $0.49 in a second estimate) by $0.29 and $0.18 respectively, a 76% or 37% upside. The beat was driven by disciplined cost management, a favorable mix shift toward higher‑margin commercial multi‑peril and casualty lines, and pricing power in those segments. The company’s commercial portfolio grew 58% in GWP, while casualty expanded 169%, offsetting a decline in homeowners insurance.
Revenue growth was largely powered by the commercial lines. GWP from commercial multi‑peril rose 58% to $X million and casualty GWP surged 169% to $Y million, while homeowners GWP fell 12%. The 18% year‑over‑year revenue increase reflects the company’s strategic pivot away from legacy homeowners policies toward the higher‑margin commercial business, a shift that has already begun to pay off in underwriting results.
Net income turned positive after a $44 million profit in Q4 2024 that included a one‑time gain. The $6 million net income in Q4 2025 reflects a 99.4% combined ratio and a 45.9% loss ratio, showing that the company’s underwriting discipline and pricing strategy are translating into profitability. The turnaround from a loss in the prior year underscores the effectiveness of the portfolio overhaul and the expansion of the Spinnaker platform.
Management guided for 2026 revenue of $1.4‑$1.5 billion, net written premium of $500‑$540 million, a combined ratio of 103‑105%, and adjusted net income of $45‑$55 million. The NWP guidance falls short of the analyst consensus of $559.3 million, a 7% shortfall, but the company remains confident in its growth trajectory. “We closed 2025 with strong momentum, evidenced by our 40% gross written premium growth, positive net and adjusted income, and an underwriting profit in the fourth quarter,” said President and CEO Rick McCathron.
Market reaction was positive, with shares rising modestly in pre‑market and after‑hours trading. The rally was driven by the strong Q4 performance, the adjusted EPS beat, and the 40% GWP growth, while the lower‑than‑expected NWP guidance tempered enthusiasm. The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2028—gross written premium above $2 billion and adjusted net income over $125 million—highlights a long‑term confidence in scaling its diversified platform.
The company’s strategic shift toward commercial lines and the successful expansion of its Spinnaker platform are key drivers of the turnaround, positioning Hippo for sustained growth and profitability.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, while slightly below analyst consensus on NWP, reflects a cautious but optimistic outlook, suggesting management’s confidence in continued growth and margin improvement.
The company’s focus on commercial lines and disciplined underwriting has reassured investors, but the guidance shortfall signals that the pace of premium growth may be slower than some analysts anticipated.
The company’s guidance for 2026, ...
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