The strong growth in commercial lines and improved underwriting metrics suggest Hippo is successfully diversifying beyond homeowners insurance. The significant increase in 2026 adjusted net income guidance indicates a path to profitability. Traders should monitor the execution of this growth strategy and whether the company can maintain underwriting discipline as it scales.
Price Chart
Executive Summary
Hippo Holdings reported strong Q4 2025 results with 40% gross written premium growth to $288M and a 23% increase in net written premium to $97M. The company achieved a 99% combined ratio, improved from 107% in Q4 2024, and reported $6M net income. For 2026, Hippo guided for $1.4-$1.5B in gross written premium and $45-$55M in adjusted net income, signaling continued growth and profitability improvement.
Key Financial Metrics
Key Facts
- Q4 2025 gross written premium grew 40% YoY to $288M
- Q4 2025 net written premium increased 23% YoY to $97M
- Q4 2025 combined ratio improved to 99% from 107% in Q4 2024
- Q4 2025 net income was $6M vs $44M in Q4 2024 (which included a $46M gain)
- 2026 guidance: $1.4-$1.5B gross written premium (+27-36% YoY), $45-$55M adjusted net income (+150-206% YoY)
- Commercial lines (CMP and Casualty) drove growth with 58% and 169% YoY growth respectively
Financial Impact
$1.4-$1.5B gross written premium and $45-$55M adjusted net income for 2026
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Homeowners | $63.40 | +1.1% |
| Renters | $18.40 | +187.5% |
| Commercial Multi-Peril | $15.50 | +150.0% |
| Casualty | $1.60 | +300.0% |
Risk Factors
- Heavy reliance on commercial lines growth which may face increased competition
- The 2026 adjusted net income guidance represents a substantial increase that may be difficult to achieve
- Homeowners line continues to contract (-10% in 2025)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001828105-26-000002 |
| Document: hippo-20260225.htm | 0001828105-26-000002 |
| Document: q425quarterlyinvestorupd.htm | 0001828105-26-000002 |
| Document: historicalquartersnewmet.htm | 0001828105-26-000002 |
| Document: 0001828105-26-000002-index-headers.html | 0001828105-26-000002 |
| Document: 0001828105-26-000002-index.html | 0001828105-26-000002 |
| Document: 0001828105-26-000002.txt | 0001828105-26-000002 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 27, 2026 7w ago | Press Release | $32.61 $30.24 | ▼ −7.27% | ▼ −6.76% | $35.28 (+8.19%) |
Aug 18, 2026 8w ago | Insider Cluster | $32.64 $32.00 | ▼ −1.96% | ▼ −0.01% | $35.28 (+8.09%) |
Aug 10, 2026 9w ago | 144 | $32.43 $32.12 | ▼ −0.96% | ▲ +0.10% | $35.28 (+8.79%) |
Jun 15, 2026 17w ago | 8-K | $25.86 $28.52 | ▲ +10.29% | ▲ +10.09% | $35.28 (+36.43%) |
May 20, 2026 21w ago | Insider Cluster | $25.99 $25.96 | ▼ −0.12% | ▼ −0.86% | $35.28 (+35.74%) |
Feb 25, 2026 33w ago | 8-K | $27.44 $25.86 | ▼ −5.76% | ▼ −0.52% | $35.28 (+28.57%) |
US Market Status
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