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HIPO

Hippo Holdings Inc.

HIPO

Hippo Holdings Inc. • NYSE
$32.78 ▲ 0.09% (+0.03)
Market Cap $827.31 M
52w High $38.98
52w Low $19.92
Dividend Yield 0%
P/E 8.69
Volume 59.87K
Outstanding Shares 25.24M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $120.6M ▲ $-57.9M ▼ $98.1M ▲ 81.343% ▲ $3.9 ▲ $98.1M ▲
Q2-2025 $117.3M ▲ $36M ▲ $1.3M ▲ 1.108% ▲ $0.051 ▲ $4M ▲
Q1-2025 $110.3M ▲ $33.3M ▲ $-47.7M ▼ -43.246% ▼ $-1.91 ▼ $-45.6M ▼
Q4-2024 $101.9M ▲ $-71.9M ▼ $44.2M ▲ 43.376% ▲ $1.78 ▲ $52.9M ▲
Q3-2024 $95.5M $35.5M $-8.5M -8.901% $-0.34 $-900K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $520.9M ▲ $1.874B ▲ $1.452B ▲ $421.5M ▲
Q2-2025 $454M ▲ $1.706B ▲ $1.372B ▲ $332.5M ▲
Q1-2025 $392.8M ▲ $1.54B ▼ $1.215B ▲ $322.8M ▼
Q4-2024 $197.6M ▼ $1.543B ▼ $1.178B ▼ $362.1M ▲
Q3-2024 $343.7M $1.545B $1.215B $326.4M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.3M ▼ $16.9M ▼ $47.4M ▲ $-17.9M ▼ $46.4M ▲ $16.8M ▼
Q2-2025 $1.3M ▲ $24.7M ▲ $-21.9M ▼ $42.8M ▲ $45.6M ▲ $24.8M ▲
Q1-2025 $0 ▼ $-35.6M ▼ $-11M ▼ $-6M ▲ $-52.6M ▼ $-35.7M ▼
Q4-2024 $46.9M ▲ $-6.4M ▼ $27.8M ▲ $-19.5M ▼ $1.9M ▼ $-7.8M ▼
Q3-2024 $700K $46.8M $-17.6M $-18.5M $10.7M $53.8M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Services Segment
Services Segment
 $10.00M ▲$20.00M ▲$10.00M ▼$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily from a very small base, suggesting the business is gaining traction, but it is still a relatively small player in dollar terms. Gross profit has remained positive and has generally improved, which points to better pricing, underwriting discipline, or reinsurance structure. The big story is on the cost side: operating losses used to be very heavy but have narrowed sharply and are now close to break-even. Net losses are still present but far smaller than a few years ago, showing a clear trend toward improved profitability. That said, the company is not consistently profitable yet, so its long-term earnings power still needs to be proven in different claim and catastrophe environments.

Balance Sheet

Balance Sheet The balance sheet looks relatively clean and simple. Total assets have been broadly stable, which indicates no aggressive balance-sheet expansion. Cash levels have come down from earlier peaks but remain meaningful, giving some financial flexibility, though not unlimited. Debt is very low, which reduces financial risk and interest burdens. Equity has moved from negative to solidly positive, reflecting capital infusions and reduced losses over time, though it has edged down more recently as the company continues to absorb deficits. Overall, the balance sheet supports ongoing operations but does not leave room for complacency if conditions worsen.

Cash Flow

Cash Flow Cash generation has improved meaningfully. A few years ago, the business was consistently burning cash from operations; more recently it has moved close to, and then into, positive territory. Capital spending is light, so free cash flow broadly tracks operating cash flow and is now roughly breakeven to modestly positive. This is an encouraging sign that the core model is becoming more self-funding. However, the track record is still short, and insurance cash flows can be volatile, so the durability of positive cash generation remains an important open question.

Competitive Edge

Competitive Edge Hippo operates in a tough segment of insurance, where large incumbents have scale, brand recognition, and deep capital reserves. Its edge is a technology-first model focused on homeowners, using data-driven underwriting, continuous risk assessment, and smart-home integration. By trying to prevent losses rather than just paying claims, Hippo aims to lower claim costs and offer a better experience, which, if it works consistently, can be a real differentiator. Partnerships, especially in new home construction and through its carrier subsidiary, expand distribution and diversify risk. The main competitive risks are that incumbents can copy key features over time, customer acquisition costs can spike, and weather or catastrophe events can quickly test the resilience of its underwriting and reinsurance strategy.

Innovation and R&D

Innovation and R&D Innovation is central to Hippo’s identity. It relies heavily on advanced data analytics, artificial intelligence, and a modern technology stack to price risk and manage policies. Smart-home devices, proactive monitoring, and services like virtual home checkups show a focus on prevention and customer engagement rather than just claims processing. The move toward a diversified hybrid fronting platform broadens its role from direct insurer to an infrastructure provider for other insurance partners, which is a strategic innovation in business model, not just technology. Continued investment in data science and AI, plus the build-out of partnerships like the Baldwin relationship, are key levers for future differentiation—but they also require disciplined execution and ongoing tech spending.

Summary

Hippo has shifted from a cash-burning, heavily loss-making disruptor toward a more disciplined, near-breakeven insurance platform, while keeping its technology-driven identity intact. Revenue growth and improving margins suggest the core model is maturing, and the balance sheet—though not excess in cash—remains reasonably sound with minimal debt. The emerging ability to generate positive operating and free cash flow is a notable milestone, but still early and untested through a full insurance cycle with major catastrophes. Competitively, Hippo’s proactive, data-rich approach and platform strategy offer real promise, yet it still operates in a highly competitive, regulated, and catastrophe-exposed industry. Overall, the trajectory is improving, but future outcomes depend heavily on consistent underwriting performance, the success of key partnerships, and the company’s ability to sustain its innovation edge without letting costs creep back up.

NEWS

November 5, 2025 · 6:00 AM UTC

Hippo Reports Third Quarter 2025 Financial Results

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October 16, 2025 · 9:00 AM UTC

Hippo to Report Third Quarter Financial Results on November 5, 2025

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September 30, 2025 · 9:00 AM UTC

Hippo Appoints Proven Data & AI Expert Robin Gordon as Chief Data Officer

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