Hippo Q2 revenue up 88% to $90M; HHIP loss ratio improves 94pp; guides to positive EBITDA in Q4

Hippo Holdings Inc.

2024-Q2 EPS reported -$3.10 revenue$174,700,000

Revenue $90M (+88% YoY); Total Generated Premium $380M (+20% YoY).
HHIP gross loss ratio improved 94pp to 84% YoY; net loss ratio improved 475pp.
Net loss attributable to Hippo $41M, down 62% YoY; Adj. EBITDA loss $25M, down 72% YoY.
Expects Q3 2024 Adj. EBITDA loss of $9M-$11M; Q4 positive $5M-$6M.
Cash and investments $491M; Spinnaker surplus $202M, up from $173M a year ago.

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