Exzeo Group Q3 net income rises on increased underwriting, premium growth
XZO•XZO•XZO•XZO•Exzeo Group’s third-quarter revenue was flat year over year at $55.2 million, while net income rose and EPS was unchanged at $0.25. Adjusted EBITDA was $27.6 million, below the $28.1 million consensus estimate, and the company repurchased 410,585 shares for about $7 million.
Exzeo Group reported third-quarter net income of $22.34 million and EPS of $0.25, unchanged year over year. Revenue was flat at $55.2 million, and adjusted EBITDA of $27.6 million missed the $28.1 million consensus estimate; adjusted EBITDA margin was 51.3%.
The company attributed adjusted revenue growth to increased underwriting and management services from new and existing customers. It said managed premium growth reflected more policies from new and existing customers, while annual recurring revenue rose with managed premiums and related recurring fees. Exzeo repurchased 410,585 shares for about $7 million during the quarter and provided no specific financial guidance for future periods.
