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AAME

Atlantic American Corporation

AAME

Atlantic American Corporation • NASDAQ
$2.44 ▼ -2.99% (-0.07)
Market Cap $49.67 M
52w High $3.71
52w Low $1.25
Dividend Yield 0.02%
P/E 10.59
Volume 12.44K
Outstanding Shares 20.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $53.76M ▼ $0 ▼ $577K ▼ 1.073% ▼ $0.028 ▼ $97K ▼
Q2-2025 $55.29M ▲ $4.557M ▼ $3.316M ▲ 5.997% ▲ $0.16 ▲ $5.092M ▲
Q1-2025 $50.125M ▲ $5.497M ▲ $802K ▲ 1.6% ▲ $0.035 ▲ $1.886M ▲
Q4-2024 $49.043M ▲ $4.869M ▲ $412K ▲ 0.84% ▲ $0.015 ▲ $1.442M ▲
Q3-2024 $44.519M $4.723M $-1.998M -4.488% $-0.1 $-1.526M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $34.444M ▼ $430.855M ▲ $321.367M ▼ $109.488M ▲
Q2-2025 $84.293M ▲ $429.339M ▲ $323.171M ▲ $106.168M ▲
Q1-2025 $67.272M ▲ $388.436M ▼ $286.051M ▼ $102.385M ▲
Q4-2024 $35.57M ▼ $393.428M ▲ $293.815M ▲ $99.613M ▼
Q3-2024 $63.662M $386.989M $281.23M $105.759M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $577K ▼ $6.642M ▼ $-18.621M ▼ $0 ▲ $-11.979M ▼ $6.611M ▼
Q2-2025 $3.316M ▲ $9.278M ▲ $1.649M ▲ $-407K ▼ $10.52M ▲ $9.108M ▲
Q1-2025 $802K ▲ $-722K ▼ $1.059M ▼ $-4K ▲ $333K ▼ $-986K ▼
Q4-2024 $412K ▲ $9.613M ▲ $3.322M ▲ $-400K ▼ $12.535M ▲ $9.514M ▲
Q3-2024 $-1.998M $90K $1.732M $0 $1.822M $58K

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q1-2025
Bankers Fidelity
Bankers Fidelity
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been very steady over the past several years, but profitability has weakened. The company has essentially been hovering around break-even, with small profits in earlier years turning into small losses more recently. This suggests that while the business can generate a consistent stream of premiums, it is struggling to convert that into dependable earnings. Pressures likely come from claims costs, pricing, and expenses, which leave little room for error. Overall, the income statement points to a stable but low-margin business where underwriting discipline and cost control are critical.

Balance Sheet

Balance Sheet The balance sheet looks fairly steady in size, with total assets and debt levels changing only gradually over time. Cash has ticked up modestly from earlier years but still represents a relatively small cushion, which is common but worth watching in an insurer that is close to break-even. Equity has drifted down from earlier levels and then stabilized, indicating that the financial buffer for absorbing shocks is not expanding and may be somewhat thinner than in the past. In short, the balance sheet appears adequate but not particularly robust, and it does not show a clear trend of strengthening.

Cash Flow

Cash Flow Cash generation from operations has been inconsistent and generally modest, mirroring the thin profits on the income statement. Free cash flow is similarly limited, helped by very low capital spending but constrained by the underlying earnings power of the business. The company does not appear to be burning cash aggressively, but it also is not building a strong cash surplus from its ongoing activities. This pattern suggests a business that funds itself but has limited internal cash to support major growth initiatives or large balance sheet improvements without trade-offs.

Competitive Edge

Competitive Edge Atlantic American competes by focusing on narrow niches rather than taking on the biggest insurers head‑to‑head. Its strengths lie in specialized senior health and life products, and in targeted commercial auto coverage for government and fleet customers. Long-standing relationships with independent agents and brokers, plus deep familiarity with these specific markets, give it a modest but real edge. However, this is a narrow moat: larger carriers could pressure pricing, and the company’s reliance on agents means it must continually earn their loyalty through service, support, and competitive products. It is positioned more as a focused specialist than a scale-driven giant.

Innovation and R&D

Innovation and R&D The company’s approach to innovation is pragmatic rather than cutting-edge. It uses standard tools such as agent portals, electronic applications, and partnerships with benefits technology platforms, which help streamline sales and administration but do not represent breakthrough systems. There is little evidence of heavy in‑house R&D or proprietary technology. This keeps costs contained but also means Atlantic American must be careful not to fall behind peers that may invest more in advanced analytics, digital claims, or automation. Its innovation strategy is incremental and service-oriented, focused mainly on making it easier for agents and partners to do business with the company.

Summary

Atlantic American is a long-established niche insurer with stable revenue but thin and recently negative profitability. Its financial position is steady but not improving meaningfully, with a modest capital base and limited cash generation. The business model leans on specialization in senior and commercial auto markets and on strong ties to independent agents, which together provide a focused but relatively narrow competitive moat. Innovation is practical and integration-based rather than transformative. Future performance will likely hinge on better underwriting results, tighter expense control, and continuous support for its agent network, more than on bold technological or strategic shifts.

NEWS

November 14, 2025 · 2:56 PM UTC

Atlantic American Corporation Reports Third Quarter Results for 2025

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