Hippo Q4 net loss $63.1M, adj EBITDA -$47.3M; guides 2023 TGP near $1B, adj EBITDA -$147M

Hippo Holdings Inc.

GAAP net loss $63.1M ($2.74/share) vs $60.7M loss in Q4 2021; adjusted EBITDA -$47.3M, improved from -$54.8M in Q3.
Total Generated Premium (TGP) $234M, +44% YoY; full-year 2022 TGP $811M, in line with original guidance.
Gross loss ratio 42%, best since IPO, down 47pp YoY; full-year GLR improved 62pp to 76% from 138% in 2021.
Revenue $35.8M, +11% YoY; 2023 revenue guided >40% growth; cash & investments $640M at year-end.
2023 guidance: TGP near $1B, adjusted EBITDA -$147M, positive adj EBITDA by late 2024; Spinnaker surplus $164.9M.

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