Hippo Holdings Inc. HIPO
In August 2021, Hippo Enterprises Inc., a Delaware corporation ("Old Hippo") completed a business combination resulting in Old Hippo becoming a wholly owned subsidiary of, Reinvent Technology Partners Z, a Cayman Islands exempted company and special purpose acquisition company which at that time changed its name to Hippo Holdings Inc.
Hippo Holdings Inc. ("Hippo") is a technology-native insurance holding company that, through its subsidiaries, delivers a broad range of insurance products to customers via its owned and partner MGAs which generated $1.1 billion of gross written premium in 2025. By combining disciplined underwriting, advanced data analytics, and a customer-first approach, Hippo is building a diversified risk portfolio aimed at delivering sustainable long-term returns on stockholders' equity. The Company offers its services primarily in the United States as of December 31, 2025.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $468.6M | $372.1M | $209.7M | $119.7M | $91.2M | $51.6M | — |
| SG&A | $67.1M | $70.7M | $79.6M | $71.5M | $49.2M | $36.8M | — |
| Pre-tax income | $63.3M | -$27.4M | -$262.5M | -$325.2M | -$367.2M | -$143.2M | — |
| Income tax | $700.0K | $1.2M | $500.0K | $1.3M | $700.0K | $1.8M | — |
| Net income | $62.6M | -$28.6M | -$263.0M | -$333.4M | -$371.4M | -$141.5M | — |
| EPS, basic | 2.28 | -1.64 | -11.58 | -14.66 | -34.11 | -1.63 | — |
| EPS, diluted | 2.22 | -1.64 | -11.58 | -14.66 | -34.11 | -1.63 | — |
| Shares, diluted (wtd. avg.) | $26.0M | $24.7M | $23.6M | $22.7M | $10.9M | $86.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $218.3M | $197.6M | $195.1M | $244.5M | $818.7M | $492.4M | $42.0M |
| Short-term investments | — | — | $187.1M | $324.8M | $9.1M | $0 | — |
| Property, plant and equipment | $31.6M | $33.0M | $34.9M | $5.4M | $1.1M | — | — |
| Goodwill | — | $0 | $0 | $0 | $53.5M | $47.8M | $1.9M |
| Other intangibles | $13.8M | $17.0M | $27.3M | $26.9M | $32.2M | $33.9M | — |
| Total assets | $1.91B | $1.54B | $1.52B | $1.57B | $1.64B | $979.4M | — |
| Total liabilities | $1.47B | $1.18B | $1.14B | $975.4M | $781.0M | $834.1M | — |
| Retained earnings | -$1.22B | -$1.27B | -$1.23B | -$961.1M | -$628.0M | -$256.6M | — |
| Total equity | $436.1M | $362.1M | $384.7M | $593.5M | $861.7M | -$199.5M | -$78.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $9.2M | $47.5M | -$92.4M | -$161.5M | -$124.5M | -$65.4M | — |
| Depreciation and amortisation | $20.4M | $23.2M | $19.8M | $15.2M | $11.0M | $6.7M | — |
| Stock-based compensation | $29.3M | $38.2M | $57.5M | $61.9M | $24.3M | $17.2M | — |
| Capital expenditure | $100.0K | $300.0K | $29.6M | $4.9M | $800.0K | $400.0K | — |
| Investing cash flow | -$11.2M | $30.3M | $57.6M | -$405.9M | -$30.0M | -$2.3M | — |
| Financing cash flow | $19.3M | -$40.1M | -$14.6M | -$6.8M | $480.8M | $518.1M | — |
| Buybacks | $14.5M | $15.6M | $1.8M | $0 | — | — | — |
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 0001193125-26-170319.
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