Hippo Q1 TGP +59% YoY to $245M, core loss ratio improves, raises 2023 guidance

Hippo Holdings Inc.

2023-Q1 EPS reported -$3.01 revenue$39,800,000

Total Generated Premium $245M (+59% YoY); revenue $39.8M (+62% YoY); in-force TGP $902M (+42% YoY).
GAAP net loss $69.8M ($3.01/share); adjusted EBITDA loss $52.1M, including $7.5M excess weather impact.
HHIP core gross loss ratio improved to 60% from 78% a year ago; core consolidated ratio 51%.
Operating expenses flat YoY; cash & investments $620M; $50M share buyback launched; repurchased 15,472 shares in Q1.
Raises FY23 TGP guidance to exceed $1B, revenue growth >45% YoY; reaffirms adjusted EBITDA loss of $147M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hippo Holdings Inc. reported Q1 2023 results: revenue $40M, net income -$69.8 million. Guidance raised.

Period: Q1 2023
Revenue: $40M
Net income: -$69.8 million
Guidance: raised
Result: reported results

Exact text from the filing

Core Gross Loss Ratio1 Revenue +62% YoY Premium Retention2 +3pp 89% Q1 ‘22 Q1 ‘23 92% $123M $154M Q1 ‘22Q1 ‘21 Q1 ‘23 $245M 78% 60% Q1 ‘22 Q1 ‘23 $17M $24M Q1 ‘22Q1 ‘21 Q1 ‘23 $40M -18% YoY YoY (2) Consumer Blended Premiums Letter to Shareholders | Q1 2023 3 Q1’23: EARLY EXECUTION SUCCESS Dear Shareholders, 2023 is off to an excellent start for Hippo.

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Source: SEC EDGAR

accession 0001828105-23-000038

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