Neptune Insurance Q3 revenue up 34% to $59.6M, net income $17.3M; CFO Steiner to exit after 2026 10-K

Neptune Insurance Holdings Inc.

• Q3 revenue $59.6M vs $44.4M a year ago (+34%); net income $17.3M (+50%) at a 29% margin; diluted EPS $0.12, adjusted diluted EPS $0.17.
• Adjusted EBITDA $36.8M (+38%) at a 61.7% margin; adjusted net income $24.3M (+52%); written premium $132.7M (+31%) on record new business sales.
• Raises FY2026 revenue outlook to $204M with Adjusted EBITDA margin above 61%; sets initial 2027 guidance of $238M revenue at a 61% margin.
• Premium in force $450.3M (+32%), policies in force 336,300 (+29%); paid down $25M of revolver debt in Q3, leaving $215M outstanding at 1.7x net leverage.
• CFO Jim Steiner resigned effective after the FY2026 10-K; director Cristian Melej, CFO of Hingham Institution for Savings (HIFS), succeeds him.