Accelerant Holdings ARX
To become the preeminent specialty insurance marketplace connecting underwriters and risk capital in a transparent and modern way.
We operate a data-driven risk exchange that connects selected specialty insurance underwriters (the "Sellers" on our platform) with Risk Capital Partners (the "Buyers" on our platform). Our Risk Exchange reduces information asymmetries and operational barriers present in the traditional insurance value chain by leveraging proprietary technology to share actionable high-fidelity data and insights with platform participants.
The Accelerant Risk Exchange simplifies the traditional insurance value chain, which is fragmented, costly, and inflexible. Legacy technology, excessive intermediation, and misaligned incentives cause data leakage, high costs, and wasted resources. Our technology-powered platform addresses these issues by connecting specialty underwriters, typically MGAs (our "Members"), and Risk Capital Partners, including insurers, reinsurers, and institutional investors (our "Risk Capital Partners"). On the "supply side" of our Risk Exchange, we deliver a full service offering to our Members that includes insights and analytics, distribution management, operational resources, and the commitment of stable underwriting capacity. Our offerings free our Members to focus on growing their businesses through their core expertise of profitable underwriting. On the "demand side" of our Risk Exchange, we offer Risk Capital Partners an attractive, validated, and diversified portfolio of specialty insurance premium that may otherwise be difficult to access elsewhere. Risk Capital Partners who provide capacity through our Risk Exchange pay us recurring fees to source, manage, and monitor risks on their behalf. The Risk Exchange portfolio's strong returns to date promote confidence from these Risk Capital Partners in the quality of the portfolio's risk exposure, leading to better pricing and faster execution for our Members, which, in turn, empowers our Members to focus on profitable underwriting performance and growth.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- North America
- UK and EU
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| North America | $510.4M | $399.2M | $201.9M |
| UK and EU | $402.5M | $203.4M | $142.1M |
As the company reported it, from the “Segment information - Schedule of Revenues by Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $912.9M | $602.6M | $344.0M | — |
| SG&A | $400.4M | $249.3M | $182.5M | — |
| Pre-tax income | -$1.32B | $32.0M | -$43.9M | — |
| Income tax | $23.3M | $9.1M | $20.2M | — |
| Net income | -$1.35B | $22.9M | -$64.1M | — |
| EPS, basic | -7.49 | 0.16 | -0.29 | — |
| EPS, diluted | -7.49 | 0.14 | -0.29 | — |
| Shares, diluted (wtd. avg.) | 190.3M | 199.7M | 165.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $1.72B | $1.23B | $775.4M | $483.6M |
| Goodwill | $63.1M | $30.9M | $20.7M | $18.3M |
| Other intangibles | $52.0M | $33.1M | $30.8M | — |
| Total assets | $8.26B | $6.09B | — | — |
| Long-term debt | $121.3M | $121.4M | — | — |
| Total liabilities | $7.54B | $5.67B | — | — |
| Retained earnings | -$1.54B | -$182.8M | — | — |
| Total equity | $697.7M | $304.3M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $445.1M | $785.7M | $290.0M | — |
| Stock-based compensation | $43.1M | $8.4M | $4.8M | — |
| Investing cash flow | -$173.6M | -$380.1M | -$12.6M | — |
| Financing cash flow | $205.8M | $110.3M | $10.3M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001997350-26-000003.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $344.0M | $602.6M | $912.9M |
| Gross profit | — | — | — | — |
| Net income | — | -$64.1M | $22.9M | -$1.35B |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 6411
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