The raised guidance across multiple metrics (GWP, revenue, combined ratio, adjusted net income) signals accelerating profitable growth and operational leverage. Monitor the Q4 2026 earnings for continued expense ratio improvement and CAT loss normalization.
Price Chart
Executive Summary
Hippo Holdings reported Q3 2026 adjusted EPS of $0.74, well above the $0.49 consensus, and revenue of $156.0M, slightly above the $153.2M consensus. The company raised its full-year 2026 guidance for gross written premium, revenue, combined ratio, and adjusted net income, reflecting strong underwriting performance and expense leverage.
Key Financial Metrics
Key Facts
- Gross written premium of $498.1M, up 60.1% YoY.
- Total revenue of $156.0M, up 29.4% YoY.
- Adjusted net income of $20.0M, up 9.3% YoY.
- Combined ratio improved to 98.4% from 99.6% in Q3 2025.
- Expense ratio improved to 41.7% from 52.0% in Q3 2025.
- Full-year 2026 guidance raised: GWP to $1.7-$1.75B, revenue to $585-$590M, combined ratio to 97%-98%, adjusted net income to $77-$80M.
- Net loss ratio of 56.7% vs 47.6% in Q3 2025, driven by normalized CAT losses of 6.5% vs (0.3)% in Q3 2025.
- Book value per share of $17.62, up 3.8% from year-end 2025.
Financial Impact
Adjusted EPS of $0.74 beat consensus of $0.49 by 51%; revenue of $156.0M beat consensus of $153.2M by 1.8%. Full-year adjusted net income guidance raised by $10M-$15M to $77-$80M.
Risk Factors
- Net loss ratio increased to 56.7% from 47.6% due to normalized CAT losses; further CAT events could pressure underwriting results.
- Net retention rate of 30% in Q3 was below the full-year guidance of mid-30s, indicating higher cession of fast-growing lines.
- The company faces competition in the MGA and program space and potential market softening.
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001828105-26-000048 |
| Document: q326quarterlyinvestorupd.htm | 0001828105-26-000048 |
| Document: hippo-20261029.htm | 0001828105-26-000048 |
| Document: 0001828105-26-000048-index-headers.html | 0001828105-26-000048 |
| Document: 0001828105-26-000048-index.html | 0001828105-26-000048 |
| Document: 0001828105-26-000048.txt | 0001828105-26-000048 |
| 8-K Data (Synthetic) | 0001828105-26-000048 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | Press Release | $37.16 $36.63 | ▼ −1.43% | ▲ +0.35% | $36.63 (−1.43%) |
Oct 28, 2026 3d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 16, 2026 15d ago | Insider Cluster | $35.50 $37.33 | ▲ +5.15% | ▲ +4.82% | $36.63 (+3.18%) |
Oct 14, 2026 18d ago | Press Release | $34.39 $35.26 | ▲ +2.53% | ▲ +2.25% | $36.63 (+6.51%) |
Oct 9, 2026 23d ago | 144 | $33.97 $34.31 | ▲ +1.00% | ▲ +1.06% | $36.63 (+7.83%) |
Aug 27, 2026 9w ago | Press Release | $32.61 $33.18 | ▲ +1.75% | ▲ +1.97% | $36.63 (+12.33%) |
Aug 18, 2026 10w ago | Insider Cluster | $32.64 $32.69 | ▲ +0.15% | ▲ +0.99% | $36.63 (+12.22%) |
Aug 10, 2026 11w ago | 144 | $32.43 $32.91 | ▲ +1.48% | ▲ +1.23% | $36.63 (+12.95%) |
Jun 15, 2026 19w ago | 8-K | $25.86 $25.03 | ▼ −3.21% | ▼ −1.96% | $36.63 (+41.65%) |
May 19, 2026 23w ago | Insider Cluster | $25.99 $25.95 | ▼ −0.15% | ▼ −0.35% | $36.63 (+40.94%) |
US Market Status
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