Neptune Insurance Q2 adj EPS $0.15

Neptune Insurance Holdings Inc. (NYSE: NP) reported adjusted earnings per share (EPS) of $0.15 for the second quarter of 2026, reflecting continued operational efficiency and strong performance in its insurance offerings. The company, which operates as a managing general agent (MGA) specializing in flood insurance, has demonstrated consistent profitability and scalable growth over the past year.

For the quarter, Neptune reported revenue of $44.4 million in the third quarter of 2025, with adjusted EBITDA reaching $26.7 million, representing a 60.2% margin. The company’s adjusted EPS for the quarter was driven by strong revenue growth and disciplined cost management, despite decline in net income due to one-time expenses related to its initial public offering (IPO).

The company’s trailing-twelve-month revenue per employee increased to $2.5 million, while adjusted EBITDA per employee rose to $1.5 million, underscoring the effectiveness of Neptune’s technology-driven underwriting platform, Triton®. These metrics highlight the company’s ability to scale efficiently and maintain profitability.

Neptune also announced a refinancing of its debt into a $260 million revolving credit facility, which provides greater flexibility and reduces interest costs. Enhance capital efficiency and support future growth initiatives.

Looking ahead, Neptune has provided a full-year 2026 revenue outlook of $186 million to $189 million, with adjusted EBITDA margin expected to remain in the range of 60% to 61%. Investors will be closely watching the company’s ability to maintain these margins amid potential market fluctuations and continued expansion of its distribution network.