Exzeo Posts 62% Full-Year Revenue Growth to $217 Million and 139% Managed Premium Surge
Exzeo’s revenue rose 20% to $53.3 million in Q4 and 62% to $217.0 million for full year 2025, driven by expanded underwriting and management services. Managed premium surged 139% to $1.39 billion and adjusted EBITDA margin improved to 55%, reflecting scalable Insurance-as-a-Service growth.
1. Fourth Quarter 2025 Highlights
Revenue in Q4 increased 20% to $53.3 million while net income doubled to $22.0 million, yielding EPS of $0.25. Managed premium jumped 139% to $1.39 billion, annual recurring revenue rose to $214.9 million, and adjusted EBITDA climbed to $28.0 million with a 55% margin.
2. Full Year 2025 Results
For full year 2025, revenue grew 62% to $217.0 million and net income reached $82.7 million. Adjusted EBITDA more than doubled to $111.5 million with a 54% margin, and free cash flow rose to $97.5 million on $100.3 million of operating cash.
3. Liquidity and Capital Resources
As of December 31, 2025, cash and equivalents stood at $305.4 million and working capital at $241.4 million, up significantly from the prior year, supporting continued investment in platform expansion.