$PRHIZ

Presurance Holdings, Inc.

CIK:0001502292|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue and Other Income
Gross earned premiums	$ 12,239	$ 16,484	$ 25,953	$ 32,602
Ceded earned premiums	(5,431)	(6,920)	(13,220)	(12,723)
Net earned premiums	6,808	9,564	12,733	19,879
Net investment income	1,040	1,298	2,150	2,587
Net realized investment gains (losses)	(87)	(28)	(101)	(25)
Change in fair value of equity securities	81	(65)	111	(257)
Other income	80	10	86	75
Change in fair value of contingent considerations	1,220	5,355	5,710	9,750
Total revenue and other income	9,142	16,134	20,689	32,009
Expenses
Losses and loss adjustment expenses, net	1,672	6,564	5,001	15,838
Policy acquisition costs	1,926	2,287	3,484	4,964
Operating and other expenses	2,331	4,368	4,431	7,229
Interest expense	677	864	2,653	1,405
Total expenses	6,606	14,083	15,569	29,436
Income (loss) before income taxes	2,536	2,051	5,120	2,573
Income tax expense (benefit)	0	0	(38)	0
Net income (loss)	$ 2,536	$ 2,051	$ 5,158	$ 2,573
Earnings (loss) per common share, basic and diluted
Earnings (loss) per common share, basic	$ 0.68	$ 1.17	$ 1.66	$ 1.47
Earnings (loss) per common share, diluted	$ 0.68	$ 1.17	$ 1.66	$ 1.47
Weighted average common shares outstanding, basic	3,746,114	1,746,125	3,105,236	1,746,125
Weighted average common shares outstanding, diluted	3,746,114	1,746,125	3,105,236	1,746,125

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net income (loss) from continuing operations	$ 5,158	$ 2,573
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of debt issuance costs	127	128
Accretion of Series B Preferred Stock	1,120	309
Amortization of bond premium and discount, net	(154)	(245)
Net realized investment (gains) losses	101	25
Change in fair value of equity securities	(111)	257
Stock-based compensation expenses	26	30
Change in fair value of contingent considerations	(5,710)	(9,750)
(Increase) decrease in:
Premiums and agents' balances and other receivables	(41)	1,466
Reinsurance recoverables	3,258	7,654
Prepaid reinsurance premiums	8,780	(12,091)
Deferred policy acquisition costs	(3,605)	3,042
Other assets	197	(406)
Increase (decrease) in:
Unpaid losses and loss adjustment expenses	(21,020)	(24,641)
Unearned premiums	(1,415)	4,649
Funds held under reinsurance agreements	(4,193)	(4,567)
Reinsurance premiums payable	(2,501)	9,385
Accounts payable and other liabilities	(206)	4,166
Net cash provided by (used in) operating activities	(20,189)	(18,016)
Cash Flows From Investing Activities
Purchase of investments	(130,148)	(142,288)
Proceeds from maturities and redemptions of investments	61,262	9,027
Proceeds from sales of investments	68,273	128,076
Net cash provided by (used in) investing activities	(613)	4,815
Cash Flows From Financing Activities
Issuance of common stock	14,000	0
Repurchase of common stock	(1)	0
Repayment of Series B Preferred Stock	(7,500)	0
Issuance of stock warrants	0	1,924
Issuance of Series B Preferred Stock	0	5,576
Common stock issuance costs	(261)	0
Net cash provided by (used in) financing activities	6,238	7,500
Net increase (decrease) in cash	(14,564)	(5,701)
Cash at beginning of period	27,362	27,654
Cash at end of period	12,798	21,953
Supplemental Disclosure of Cash Flow Information:
Interest paid	1,563	1,096
Income taxes paid (refunded), net	(24)	0
Conifer Insurance Services, LLC [Member]
Cash Flows From Investing Activities
Proceeds from contingent consideration in CIS Sale	$ 0	$ 10,000

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Investment securities:
Debt securities, at fair value (amortized cost of $94,063 and $96,669, respectively)	$ 85,556	$ 88,305
Equity securities, at fair value (cost of $883 and $1,276, respectively)	995	1,277
Short-term investments, at fair value	28,389	24,725
Total investments	114,940	114,307
Cash and cash equivalents	12,798	27,362
Premiums and agents' balances receivable, net	5,562	5,521
Reinsurance recoverables on unpaid losses	60,410	63,909
Reinsurance recoverables on paid losses	6,170	5,929
Prepaid reinsurance premiums	3,244	12,024
Deferred policy acquisition costs	6,301	2,696
Receivable from contingent consideration	10,000	4,290
Other assets	3,049	3,245
Total assets	222,474	239,283
Liabilities:
Unpaid losses and loss adjustment expenses	125,242	146,262
Unearned premiums	24,288	25,703
Reinsurance premiums payable	0	2,501
Debt	12,314	12,187
Mandatorily redeemable preferred stock	8,000	14,380
Funds held under reinsurance agreements	20,040	24,233
Accounts payable and other liabilities	4,845	5,051
Total liabilities	194,729	230,317
Commitments and contingencies
Shareholders' equity:
Common stock, no par value (100,000,000 shares authorized; 3,746,092 and 1,746,125 issued and outstanding, respectively)	113,922	100,158
Accumulated deficit	(76,433)	(81,591)
Accumulated other comprehensive income (loss)	(9,744)	(9,601)
Total shareholders' equity	27,745	8,966
Total liabilities and shareholders' equity	$ 222,474	$ 239,283