Hippo Q3 GAAP net loss $53M, adj EBITDA loss $38M; expects positive adj EBITDA before year-end 2024

Hippo Holdings Inc.

2023-Q3 EPS reported -$9.85 revenue$145,200,000

GAAP net loss attributable to Hippo $53M; adjusted EBITDA loss $38M, Hippo's best quarter as public company.
Revenue $58M (+88% YoY); Total Generated Premium $304M (+38% YoY).
HHIP core gross loss ratio improved to 69% from 82% a year ago; consolidated GLR 59%.
Guides FY2023 adj EBITDA loss $207-$212M (narrowed from $208-$218M); expects breakeven before year-end 2024.
Announced $50-$70M cost reduction including up to 120 employee layoffs; cash and investments $558M.

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 0.85

Hippo Holdings Inc. reported the quarter ended September 30, 2023 results: revenue $58M. Guidance reaffirmed.

Period: the quarter ended September 30, 2023
Revenue: $58M
Guidance: reaffirmed
Result: reported results

Exact text from the filing

losses Revenue +88% YoY Premium Retention2 +2pp 90% Q3 ‘22 Q3 ‘23 92% Total Generated Premium +38% YoY $162M $220M Q3 ‘22Q3 ‘21 Q3 ‘23 $304M $21M $31M Q3 ‘22Q3 ‘21 Q3 ‘23 $58M HHIP Core Gross Loss Ratio1 82% 69% Q3 ‘22 Q3 ‘23 -13pp YoY YoY (2) Hippo Consumer Blended Premiums Letter to Shareholders | Q3 2023 3 Q3’23: POSITIONED FOR PROFITABILITY Dear

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Source: SEC EDGAR

accession 0001828105-23-000081

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