---
schema_version: "secwatch.filing_event.v1"
accession: "0002067129-26-000003"
form_type: "8-K"
ticker: "NP"
cik: "0002067129"
company_name: "Neptune Insurance Holdings Inc."
filed_at: "2026-02-18T23:59:59+00:00"
generated_at: "2026-05-16T02:11:33.714481+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Neptune Insurance Q4 revenue +39% to $43.8M; adjusted net income +25% to $15.3M

## Summary
- Q4 GAAP net income $4.3M (-63% YoY) due to $4.6M IPO-related costs; adjusted net income $15.3M (+25%).
- Full-year 2025 revenue $159.6M (+34%); adjusted EBITDA $95.0M (+32%) at 60% margin.
- Written Premium Q4 $100.3M (+41%); full-year $367.3M (+34%); policies in force +27% to 280,200.
- Policy retention improved 180bps to 86.1%; revenue retention +100bps to 91.7%.
- Refinanced term loans into $260M revolver ($240M drawn); operating cash flow $49.8M.

## SEC filing metadata
- accession: 0002067129-26-000003
- form_type: 8-K
- ticker: NP
- cik: 0002067129
- company_name: Neptune Insurance Holdings Inc.
- filed_at: 2026-02-18T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2067129/000206712926000003/0002067129-26-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2067129/000206712926000003/np-20260218.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002067129-26-000003
- JSON: https://secwatch.observer/filing/0002067129-26-000003.json
- Plain text: https://secwatch.observer/filing/0002067129-26-000003.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.