$SLDE

Slide Insurance Holdings, Inc.

CIK:0001886428|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Gross premiums written	$ 508,014	$ 435,384	$ 922,806	$ 713,633
Change in unearned premiums	(21,917)	(96,726)	44,277	(24,084)
Gross premiums earned	486,097	338,658	967,083	689,549
Ceded premiums earned	(125,462)	(94,799)	(240,565)	(179,649)
Net premiums earned	360,635	243,859	726,518	509,900
Net investment income	22,152	15,040	42,270	28,848
Policy fees	3,382	2,455	5,972	3,988
Other income	648	253	1,340	464
Total revenue	386,817	261,607	776,100	543,200
Expenses:
Losses and loss adjustment expenses incurred, net	108,740	91,369	219,813	175,130
Policy acquisition and other underwriting expenses	42,280	32,096	86,405	60,668
General and administrative expenses	55,028	37,935	101,201	79,314
Interest expense	924	895	1,776	1,830
Depreciation expense	1,354	1,117	2,669	2,262
Amortization expense	30	1,898	99	3,792
Total expenses	208,356	165,310	411,963	322,996
Net income before income tax expense	178,461	96,297	364,137	220,204
Income tax expense	43,611	26,225	89,760	57,629
Net income	$ 134,850	$ 70,072	$ 274,377	$ 162,575
Weighted average shares outstanding - Basic	115,408	66,773	119,353	61,715
Weighted average shares outstanding - Diluted	127,311	125,979	131,944	124,792
Earnings per share - Basic	$ 1.17	$ 1.05	$ 2.3	$ 2.63
Earnings per share - Diluted	$ 1.06	$ 0.56	$ 2.08	$ 1.3

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)	$ 274,377	$ 162,575
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for depreciation and amortization	2,768	6,055
Deferred income tax expense	(1,081)	(79)
Stock based compensation	6,496	6,014
Amortization of deferred loan costs	425	386
Gain on sale of investments	(11)	(6)
Net amortization of premiums on investments in fixed-maturity securities	(1,317)	(1,492)
Change in value of interest rate swap	(62)	(14)
Change in operating assets and liabilities:
Accrued interest income	(3,128)	(217)
Premiums receivable	49,085	(34,288)
Reinsurance recoverable on paid losses	(3,601)	(50,087)
Reinsurance recoverable on unpaid losses	30,923	100,810
Prepaid reinsurance premiums	(360,868)	(284,445)
Prepaid expenses	(972)	(3,169)
Deferred policy acquisition costs	(6,959)	(6,412)
Other assets	(29)	255
Loss and loss adjustment expense reserves	61,305	(23,675)
Unearned premiums	(44,280)	24,084
Advanced premiums	38,304	38,467
Income taxes payable	57,326	28,695
Premium taxes payable	10,745	(2,321)
Commissions payable	6,148	3,011
Reinsurance premiums payable	460,006	374,102
Accounts payable and accrued expenses	7,935	10,499
Net lease liability, net	149	0
Other liabilities	6,327	1,681
Net cash provided by operating activities	590,011	350,429
Cash flows from investing activities:
Purchase of fixed-maturity securities available-for-sale	(289,221)	(39,418)
Proceeds from maturities and redemptions of fixed-maturity securities available -for-sale	36,396	58,066
Proceeds from redemption of other investments	0	336
Purchase of equity method investment	(3,000)	0
Purchase of property and equipment	(1,094)	(1,496)
Net cash used in (provided by) investing activities	(256,919)	17,488
Cash flows from financing activities:
Proceeds from exercise of stock options	2,200	652
Other financing costs	0	(2,867)
Payment of debt issuance costs	(1,410)	(296)
Repayment of long-term debt	(3,000)	(3,000)
Proceeds from issuance of initial public offering	0	263,500
Repurchase and retirement of common stock	(190,932)	0
Shares withheld for taxes (net share settlement)	(1,764)	0
Net cash (used in) provided by financing activities	(194,906)	257,989
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period	138,186	625,906
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period	1,682,968	789,842
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	1,821,154	1,415,748
Cash paid during the year for:
Interest paid	1,373	954
Income taxes paid	$ 33,513	$ 29,025

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Invested Assets [Abstract]
Fixed-maturity securities, available-for-sale, at estimated fair value (amortized costs: $834,274 and $580,122, respectively and allowance for credit losses: $0 and $0 respectively)	$ 832,081	$ 589,720
Other investments, net	7,000	4,000
Total invested assets	839,081	593,720
Cash and cash equivalents	1,236,915	1,201,210
Restricted cash and cash equivalents	793	786
Accrued interest income	10,409	7,281
Assumed premiums receivable	9,377	34,290
Premiums receivable, net of allowance for credit loss of $8,390 and $3,294, respectively	66,404	90,576
Reinsurance recoverable on paid losses, net of allowance for credit loss: $0 and $0, respectively	19,784	16,183
Reinsurance recoverable on unpaid losses, net of allowance for credit loss: $0 and $0, respectively	115,205	146,128
Prepaid reinsurance premiums	563,616	202,748
Deferred income tax assets, net	22,406	18,332
Deferred policy acquisition costs	100,687	93,728
Property and equipment, net	10,010	11,585
Right-of-use lease asset, operating	7,625	8,476
Intangibles, net	0	99
Goodwill	2,603	2,603
Prepaid expenses	9,904	8,932
Other assets	845	816
Total assets	3,599,110	2,918,465
Liabilities:
Loss and loss adjustment expense reserves	501,020	439,715
Unearned premiums	956,331	1,000,611
Commissions payable	15,197	9,049
Deferred revenue	90	90
Reinsurance premiums payable	620,336	160,330
Long-term debt, net	29,703	33,687
Interest rate swap liability	0	62
Income taxes payable	150,881	93,555
Advanced premiums	68,822	30,518
Premium tax liabilities	15,820	5,075
Accounts payable and accrued expenses	27,703	19,768
Lease liability, operating	8,947	9,649
Other liabilities	9,442	3,115
Total liabilities	2,404,292	1,805,224
Shareholders' equity:
Common Stock (par value $0.01, 1,500,000,000 shares authorized, 115,568,131 and 123,889,446issued and outstading at June 30, 2026 and December 31,2025, respectively)	1,156	1,239
Additional paid-in capital	167,771	351,688
Accumulated other comprehensive income, net of taxes	(1,635)	7,165
Retained earnings	1,027,526	753,149
Total shareholders' equity	1,194,818	1,113,241
Total liabilities and shareholders' equity	3,599,110	2,918,465
Variable Interest Entity [Member]
Invested Assets [Abstract]
Restricted cash and cash equivalents	$ 583,446	$ 480,972