Quarterly ResultApr 29, 2026, 04:49 PM
NP Q1 Revenue +28.8% to $37.8M; Net Income $7.3M; $100M Buyback
AI Summary
Neptune Insurance Holdings Inc. reported Q1 2026 revenue of $37.8 million, a 28.8% increase year-over-year, while net income decreased by 26.1% to $7.3 million. However, net income available to common stockholders increased by 62.3% to $7.3 million. The company's Board of Directors also authorized a $100 million stock repurchase program for Class A common stock, and the revolving credit facility was further reduced post-quarter.
Key Highlights
- Board authorized a $100 million Class A common stock repurchase program.
- Q1 2026 revenue increased 28.8% to $37.8 million from $29.4 million YoY.
- Q1 2026 net income decreased 26.1% to $7.3 million from $9.9 million YoY.
- Net income available to common stockholders increased 62.3% to $7.3 million from $4.5 million YoY.
- Basic and diluted EPS remained flat at $0.05 per share.
- Operating expenses rose 77.4% to $24.4 million, largely due to employee compensation.
- Net cash from operating activities increased 16.6% to $16.7 million.
- Revolving credit facility balance reduced by $13 million in Q1, plus $5 million post-quarter.
Price Impact
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