Hippo Q3 Adj. EBITDA loss $54.8M beats guidance; revenue +44% YoY; reaffirms 2022 outlook

Hippo Holdings Inc.

2022-Q3 EPS reported -$11.93 revenue$83,900,000

GAAP net loss $129.2M ($5.66 EPS) including $53.5M goodwill impairment; Adj. EBITDA loss $54.8M vs prior $48.4M.
Revenue $30.7M (+44% YoY); TGP $219M (+36% YoY); customer base 332,000.
Gross Loss Ratio 58% ex-Hurricane Ian (110% overall); full-year guidance ≤90% reaffirmed.
Hurricane Ian net loss only $4.7M consolidated; $0.9M from Hippo homeowners program.
Unrestricted cash/investments $677M; Q4 Adj. EBITDA loss expected below $50M; path to positive EBITDA by late 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hippo Holdings Inc. reported quarter ended September 30, 2022 results: revenue $31M, net income $129.2m. Guidance reaffirmed.

Period: quarter ended September 30, 2022
Revenue: $31M
Net income: $129.2m
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and non-Hippo premium placed by our internal Agency, Producer agents, and other partners. Gross Loss Ratio -70pp YoY 58% Q3 ‘22Q3 ‘21Q3 ‘20 128% 155% ex Ian Revenue +44% YoY 0 $31M Q3 ‘22Q3 ‘21Q3 ‘20 $21M $13M Premium Retention1 -1pp From prior year 90% Q3 ‘22Q3 ‘21 91% Total Generated Premium in-Force $739M Q3 ‘22Q3 ‘21Q3 ‘20 $553M $375M +34% YoY Letter

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Source: SEC EDGAR

accession 0001828105-22-000054

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