Neptune Insurance Holdings Inc. (NP) Form 8-K — Oct 20, 2026
Neptune Insurance Holdings (NYSE: NP) reported record Q3 2026 results, with revenue up 34% to $59.6 million and net income up 50% to $17.3 million at a 29% margin. Written premium grew 31% to $132.7 million and Adjusted EBITDA rose 38% to $36.8 million at a 61.7% margin, driving a Rule of 40 score of 94. Management raised full-year 2026 revenue guidance to $204 million at a >61% Adjusted EBITDA margin and set initial 2027 guidance of $238 million at a 61% margin. The company also paid down $25 million of debt in the quarter, leaving $215 million outstanding at a 1.7x net leverage ratio.
Key figures
- Eps
- 0.12
- Revenue
- 59567000
- Guidance
- FY2026 revenue raised to $204M at Adjusted EBITDA margin >61%; initial FY2027 guidance of $238M revenue at 61% Adjusted EBITDA margin
- Net Income
- 17256000
- Total Debt
- 215000000
- Revenue Yoy
- 34.3%
- Total Assets
- 103924000
- Cash Position
- 17429000
- Shares Outstanding
- 148571039
- Rule of 40
- 94
- Diluted eps q3
- 0.12
- Q3 debt paydown
- $25.0 million
- Premium in force
- 450300000
- Policies in force
- 336,300
- Adjusted ebitda q3
- 36760000
- Capacity providers
- 45
- Written premium q3
- 132700000
- Written premium yoy
- 30.8%
- Revenue retention ltm
- 89%
- Adjusted net income q3
- 24276000
- Adjusted diluted eps q3
- 0.17
- Total net leverage ratio
- 1.7x
- Adjusted ebitda margin q3
- 61.7%
- Revolving credit facility
- $260.0 million with $215.0 million outstanding at 9/30/2026
- Lifetime written loss ratio
- 19.5% (as of June 30, 2026)
- Operating cash flow 9m 2026
- 69300000
AI analysis
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