Neptune Insurance Q1 revenue rises 29%, net income falls 26%; raises 2026 outlook
Neptune Insurance Holdings reported first-quarter 2026 revenue of $37.8 million, up 29%, while GAAP net income fell 26% to $7.3 million, which the company attributed partly to $6.9 million of share-based compensation. The company raised its full-year 2026 expectations and approved a $100 million share repurchase program, which has no expiration date and does not obligate it to buy any set amount of stock.
Key points
- Q1 2026 revenue rose 29% to $37.8 million; adjusted EBITDA rose 26% to $21.6 million at a 57.1% margin
- GAAP net income fell 26% to $7.3 million; adjusted net income rose 21% to $13.4 million
- For full-year 2026, the company now expects revenue of $195 million and an adjusted EBITDA margin of 60% to 61%
- Board approved on April 21, 2026 a repurchase program of up to $100 million of Class A common stock
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 22, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.