Neptune Insurance Holdings Inc. reported a 33% increase in revenue to a record $55.9 million for the second quarter of 2026, driven by record new business sales. Net income rose 36% to $15.8 million, representing a net income margin of 28%, while Adjusted EBITDA grew 36% to $34.5 million with a margin of 62%. The company also achieved a lifetime written loss ratio of 19.5% as of June 30.

The company posted an adjusted net income of $22.6 million, a 55% increase, and written premium grew 31% to a record $126.9 million. For the three months ended June 30, 2026, total revenues were $55,872,000 compared to $42,066,000 in the prior year. Net income for the period was $15,796,000, up from $11,620,000.

Financial Performance

Adjusted EBITDA for the quarter was $34,456,000, an increase from $25,249,000 in the same period last year. The adjusted EBITDA margin expanded to 61.7% from 60.0%. Net income margin improved to 28.3% from 27.6%.

Per Share Results

Basic and diluted earnings per share for Class A and Class B common stock were $0.11 for the quarter. Adjusted basic earnings per share were $0.16, while adjusted diluted earnings per share were $0.15. Adjusted EBITDA per share was $0.25 on a basic basis and $0.24 on a diluted basis.

Operational Metrics

The company reported record new business sales and a lifetime written loss ratio of 19.5% as of June 30. Written premium increased 31% to $126.9 million. For the twelve months ended June 30, 2026, total revenues reached $181,799,000, a 33.0% increase from the prior year. Adjusted EBITDA for the twelve-month period was $108,658,000, up 31.8%.

Neptune Insurance Holdings Inc. is the parent company of Neptune Flood Incorporated, an AI-native managing general agent offering residential and commercial insurance products.

Neptune Insurance Hldgs raised its full-year FY2026 sales outlook to $199.000 million, exceeding the analyst estimate of $196.970 million. The company previously guided for sales of $195.000 million. This revision follows a strong second-quarter performance where the company surpassed consensus expectations on both the top and bottom lines.

For the second quarter, Neptune Insurance reported adjusted earnings per share of $0.15, beating analyst estimates of $0.14. This represents a 36.36% increase compared to earnings of $0.11 per share from the same period last year. The company's financial performance was driven by a significant rise in sales, which also outpaced market expectations.

Sales for the quarter reached $55.872 million, beating the analyst consensus estimate of $52.254 million by 6.92%. This marks a 32.82% increase over sales of $42.066 million reported in the same period last year. The growth in both earnings and sales highlights the company's ability to expand its revenue base while improving profitability.

The following table summarizes Neptune Insurance's quarterly performance compared to analyst estimates and the prior year:

The company's ability to surpass consensus estimates on both the top and bottom lines reflects strong operational execution. The double-digit growth in sales and earnings underscores Neptune Insurance's competitive position in the market.