Hippo Q3 revenue $95M (+65%), net loss down 84% to $8.5M; reiterates Q4 guidance

Hippo Holdings Inc.

2024-Q2 EPS reported -$3.44 revenue$270,200,000

Revenue $95M (+65% YoY); TGP $368M (+21% YoY); Services and IaaS now 81% of TGP.
HHIP accident period loss ratio improved 22pp to 70%; net loss ratio improved 67pp to 84%.
Net loss $8.5M (-84% YoY); adjusted EBITDA loss $7.5M (-81% YoY).
Sold majority of First Connect for ~$48M; repurchased 957,242 shares for $15.6M.
Reiterates Q4 revenue guidance $95-99M, adjusted EBITDA positive $5-6M.

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