secwatch.observer — SEC 8-K summary
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Issuer:     Neptune Insurance Holdings Inc. (NP)
CIK:        0002067129
Form:       8-K
Filed at:   2026-02-18T23:59:59+00:00
Accession:  0002067129-26-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2067129/000206712926000003/0002067129-26-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2067129/000206712926000003/np-20260218.htm
  HTML page:      https://secwatch.observer/filing/0002067129-26-000003

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