$HIPO

Hippo Holdings Inc.

CIK:0001828105|SEC Filings

Unaudited Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Net earned premium	$ 118.7	$ 94.0	$ 217.6	$ 181.3
Commission income, net	15.7	14.7	28.4	29.1
Service and fee income	3.7	2.9	6.9	5.7
Net investment income	6.6	5.7	13.3	11.5
Total revenue	144.7	117.3	266.2	227.6
Expenses:
Losses and loss adjustment expenses	59.8	44.5	107.3	136.9
Insurance related expenses	38.7	32.8	73.6	63.0
Technology and development expenses	10.1	8.1	19.5	16.2
Sales and marketing expenses	6.3	9.2	12.6	18.1
General and administrative expenses	18.2	17.4	34.4	33.9
Impairment and restructuring charges	0.0	1.2	0.0	1.2
Interest and other (income) expense, net	0.6	0.1	0.6	(0.1)
Total expenses	133.7	113.3	248.0	269.2
Income (loss) before income taxes	11.0	4.0	18.2	(41.6)
Income tax expense (benefit)	0.9	0.1	1.0	(0.1)
Net income (loss)	10.1	3.9	17.2	(41.5)
Net income attributable to noncontrolling interests, net of tax	0.0	2.6	0.0	4.9
Net income (loss) attributable to Hippo	10.1	1.3	17.2	(46.4)
Other comprehensive income (loss):
Change in net unrealized (loss) gain on investments, net of tax	(1.4)	0.7	(3.8)	2.8
Comprehensive income (loss) attributable to Hippo	8.7	2.0	13.4	(43.6)
Per share data:
Net loss attributable to Hippo - basic	10.1	1.3	17.2	(46.4)
Net loss attributable to Hippo - diluted	$ 10.1	$ 1.3	$ 17.2	$ (46.4)
Weighted-average shares used in computing net loss per share attributable to Hippo - basic (in shares)	26,203,128	25,343,457	26,022,569	25,168,442
Weighted-average shares used in computing net loss per share attributable to Hippo - diluted (in shares)	26,552,111	26,023,780	26,431,819	25,168,442
Net loss per share attributable to Hippo - basic (in dollars per share)	$ 0.38	$ 0.05	$ 0.66	$ (1.84)
Net loss per share attributable to Hippo - diluted (in dollars per share)	$ 0.38	$ 0.05	$ 0.65	$ (1.84)

Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 51.6	$ (10.9)
Cash flows from investing activities:
Capitalized internal use software costs	(6.3)	(6.3)
Purchases of property and equipment	(0.2)	0.0
Purchases of fixed maturities	(195.4)	(49.4)
Maturities of fixed maturities	32.2	20.4
Sales of fixed maturities	22.4	0.0
Purchases of short-term investments	(141.2)	(148.7)
Maturities of short-term investments	137.3	146.6
Sales of short-term investments	91.5	4.5
Proceeds from deferred consideration	25.0	0.0
Net cash used in investing activities	(34.7)	(32.9)
Cash flows from financing activities:
Taxes paid related to net share settlement of equity awards	0.0	(5.4)
Proceeds from issuance of common stock	2.1	2.3
Distributions to noncontrolling interests	0.0	(6.4)
Other	2.5	(1.6)
Net cash provided by financing activities	4.6	36.8
Net increase (decrease) in cash, cash equivalents, and restricted cash	21.5	(7.0)
Cash, cash equivalents, and restricted cash at the beginning of the period	250.1	232.8
Cash, cash equivalents, and restricted cash at the end of the period	271.6	225.8
Proceeds from surplus note	$ 0.0	$ 47.9

Unaudited Interim Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost: $432.9 million and $291.7 million, respectively)	$ 431.0	$ 293.4
Short-term investments, at fair value (amortized cost: $67.0 million and $152.5 million, respectively)	67.0	152.5
Total investments	498.0	445.9
Cash and cash equivalents	244.5	218.3
Restricted cash	27.1	31.8
Accounts receivable, net of allowance of $0.3 million and $0.2 million, respectively	350.9	250.1
Reinsurance recoverable on paid and unpaid losses and LAE	450.1	346.6
Prepaid reinsurance premiums	448.0	353.7
Ceding commissions receivable	158.5	98.7
Capitalized internal use software	41.6	43.0
Intangible assets	13.4	13.8
Other assets	86.4	103.6
Total assets	2,318.5	1,905.5
Liabilities:
Loss and loss adjustment expense reserve	548.9	420.4
Unearned premiums	741.0	579.7
Reinsurance premiums payable	396.3	304.4
Provision for commission	38.6	36.3
Surplus note	47.9	47.9
Accrued expenses and other liabilities	80.2	80.7
Total liabilities	1,852.9	1,469.4
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, $0.0001 par value per share; 80,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 26,384,898 and 25,699,704 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	0.0	0.0
Additional paid-in capital	1,667.6	1,651.5
Accumulated other comprehensive (loss) income	(2.0)	1.8
Accumulated deficit	(1,200.0)	(1,217.2)
Total stockholders’ equity	465.6	436.1
Total liabilities and stockholders’ equity	$ 2,318.5	$ 1,905.5