---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-109245"
form_type: "8-K"
ticker: "NP"
cik: "0002067129"
company_name: "Neptune Insurance Holdings Inc."
filed_at: "2025-11-12T23:59:59+00:00"
generated_at: "2026-05-16T21:50:23.025081+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Neptune Insurance Q3 revenue up 31% to $44.4M, adj. EBITDA margin 60%; refinances debt to $260M revolver

## Summary
- Revenue $44.4M (+31.2% YoY), net income $11.5M (-4.8% due to $5M IPO expenses), Adj. EBITDA $26.7M (+28.6%).
- Written Premium $101.6M (+30.7%), Policy Retention 86.2%, Premium Retention 98.7%.
- Post-quarter refinanced debt into $260M revolving facility, $251M outstanding, lower rate, no required amortization.
- Full-year 2026 guidance: revenue $186-189M, Adj. EBITDA margin 60-61%.
- Record new business sales; added 6 reinsurers to new program (now 39 providers across 7 programs).

## SEC filing metadata
- accession: 0001213900-25-109245
- form_type: 8-K
- ticker: NP
- cik: 0002067129
- company_name: Neptune Insurance Holdings Inc.
- filed_at: 2025-11-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2067129/000121390025109245/0001213900-25-109245-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2067129/000121390025109245/ea0265271-8k_neptune.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-109245
- JSON: https://secwatch.observer/filing/0001213900-25-109245.json
- Plain text: https://secwatch.observer/filing/0001213900-25-109245.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.