Quarterly ResultApr 30, 2026, 04:03 PM
NMIH Q1 Net Income $99.3M, EPS $1.28
AI Summary
NMI Holdings, Inc. reported Q1 2026 net income of $99.3 million, or $1.28 per diluted share, showing sequential growth but a slight year-over-year decline in net income. Adjusted net income was $99.4 million, or $1.28 per diluted share. The company achieved strong growth in its primary insurance-in-force, which reached $222.3 billion, and saw increases in net premiums earned and total revenue. CEO Adam Pollitzer highlighted strong operating performance and a robust balance sheet, despite a significant increase in the loss ratio compared to the prior year.
Key Highlights
- NMIH reported Q1 2026 net income of $99.3 million, up from $94.2 million in Q4 2025 but down from $102.6 million in Q1 2025.
- Diluted EPS was $1.28 in Q1 2026, compared to $1.20 in Q4 2025 and $1.28 in Q1 2025.
- Adjusted net income for Q1 2026 was $99.4 million, up 6% sequentially but down 3% year-over-year.
- Primary insurance-in-force reached $222.3 billion at quarter-end, a 5% increase year-over-year.
- Total revenue grew to $183.5 million, up 2% sequentially and 6% year-over-year.
- Net premiums earned were $154.8 million, up 2% sequentially and 4% year-over-year.
- Book value per share (excluding net unrealized gains/losses) was $35.46, up 15% year-over-year.
- Loss ratio increased to 13.3% in Q1 2026, compared to 3.0% in Q1 2025.