secwatch.observer — SEC 8-K summary
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Issuer:     Neptune Insurance Holdings Inc. (NP)
CIK:        0002067129
Form:       8-K
Filed at:   2025-11-12T23:59:59+00:00
Accession:  0001213900-25-109245
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2067129/000121390025109245/0001213900-25-109245-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2067129/000121390025109245/ea0265271-8k_neptune.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-109245

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