Exzeo Group, Inc. (NYSE:XZO) Reports Exceptional Q4 and Full Year 2025 Results: Revenue Up 62%, Managed Premiums Soar 139%

TAMPA, Fla. – February 25, 2026 – Exzeo Group, Inc. has delivered a blockbuster set of financial results for the fourth quarter and full year ended December 31, 2025. The technology innovator for property and casualty (P&C) insurance carriers continues its impressive post-IPO trajectory, marked by high double- and triple-digit growth across key metrics, substantial profitability improvements, and a strong liquidity position. The company’s performance signals significant momentum and could have a material impact on its share price.

Key Highlights from Q4 and Full Year 2025

• Managed Premiums: Surged 139% year-over-year to \$1.39 billion, up from \$580.3 million. This reflects rapid adoption of Exzeo’s Insurance-as-a-Service platform by carriers and agents.
• Revenue: Jumped 62% year-over-year to \$217.0 million for 2025 (Q4 revenue up 20% YoY to \$53.3 million). Growth was driven primarily by expansion in underwriting and management services.
• Profitability:
  • Pre-Tax Income: Soared 213% to \$110.3 million for the year.
  • Net Income (Continuing Operations): Reached \$82.7 million for 2025, up from \$26.1 million in 2024. Q4 net income was \$22.0 million, up from \$11.7 million.
  • EPS (Continuing Operations): \$0.99 for 2025 (\$0.25 in Q4), up from \$0.20 (\$0.15 in Q4 2024).
• Annual Recurring Revenue: Increased to \$214.9 million as of December 31, 2025, from \$138.5 million the previous year.
• Adjusted EBITDA: Rose to \$111.5 million for 2025, from \$44.0 million in 2024. Adjusted EBITDA Margin expanded to 54% from 37%.
• Cash Flow and Liquidity:
  • Cash from Operating Activities: Grew to \$100.3 million, up from \$49.3 million.
  • Free Cash Flow: Increased to \$97.5 million, up from \$45.9 million.
  • Cash and Cash Equivalents: \$305.4 million as of December 31, 2025, compared to \$54.5 million a year ago.
  • Working Capital: \$241.4 million, up from \$10.9 million at the end of 2024.
• Customer Base: A sixth insurance company joined the Exzeo platform in Q4 2025, expanding the company’s reach and revenue base.

Operational and Strategic Developments

• Platform Scalability: Revenue and earnings growth were attributed to deepening relationships with existing carriers, onboarding new customers, and expanding the scope of services provided, demonstrating the scalability of Exzeo’s Insurance-as-a-Service platform.
• Recurring Revenue Strength: The notable increase in annual recurring revenue underlines the strength and stickiness of Exzeo’s core SaaS business model.
• Cost Efficiency: Adjusted EBITDA margins expanded 17 percentage points year-over-year to 54%, highlighting improved operational efficiency and scalability.
• Balance Sheet Fortification: The company’s IPO and strong cash generation resulted in a dramatic increase in its cash position and working capital, providing ample resources for future growth, acquisitions, or capital returns.
• Outsourced Claims Revenue Adjustments: Exzeo reported both GAAP and non-GAAP (adjusted) revenue, excluding outsourced claims revenue that is neutral to earnings, to provide a clearer picture of core platform growth.

Potentially Price-Sensitive Items for Shareholders

• Explosive Growth Metrics: Triple-digit growth in managed premium and more than doubling of net and pre-tax income could significantly boost investor confidence and drive the stock price higher.
• IPO Impact: Successful transition to public markets and robust post-IPO financial performance position Exzeo as a high-growth, financially-sound technology company in the insurance sector.
• Cash-Rich Balance Sheet: The cash position and working capital expansion provide strategic flexibility, which may lead to acquisitions, increased R&D, or potential shareholder returns in the future.
• Customer Acquisition: The onboarding of additional insurance carriers to the platform supports future revenue and earnings growth.
• Dependence on HCI Group, Inc.: Exzeo remains majority-owned and dependent on HCI Group for much of its revenue, a factor investors should monitor for future developments or potential changes in ownership structure.
• Risks and Forward-Looking Statements: The company highlights risks related to maintaining profitability, regulatory environment, and customer concentration. Investors should watch for updates on customer diversification and regulatory changes.

Conference Call Details

Exzeo will host a conference call on February 25, 2026, at 5:45 p.m. Eastern Time. Investors can access the webcast and replay via the company’s investor relations website.

About Exzeo Group, Inc.

Exzeo Group is a leading provider of technology solutions to P&C insurance carriers, especially in the homeowners insurance market. Its internally developed Insurance-as-a-Service platform streamlines carrier and agent operations from quoting and underwriting to claims and analytics, driving efficiency and improved underwriting performance.

Financial Tables Summary (Selected)

• 2025 Revenue: \$216.98 million
• 2025 Net Income (Continuing): \$82.75 million
• 2025 Adjusted EBITDA: \$111.52 million
• 2025 Free Cash Flow: \$97.45 million
• 2025 Cash and Equivalents (Year-End): \$305.37 million
• Q4 2025 Revenue: \$53.32 million
• Q4 2025 Net Income: \$21.98 million

Non-GAAP Metrics

Exzeo provides non-GAAP measures such as Adjusted EBITDA, Adjusted Revenue, Adjusted EBITDA Margin, and Free Cash Flow to supplement its GAAP results. These measures exclude items such as outsourced claims revenue, stock-based compensation, and other non-core costs to provide a clearer view of core operating performance.

Summary

Exzeo Group’s 2025 report delivers a strong message of rapid growth, profitability, and financial health, underpinned by its scalable platform and expanding customer base. With a robust cash position, growing recurring revenues, and operational leverage, Exzeo is well-positioned for continued expansion in the insurance technology sector. Shareholders should monitor customer and revenue concentration risks related to HCI Group, though current momentum appears highly favorable and likely to impact the share price positively.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. Investors should conduct their own research and consult with a professional advisor before making any investment decisions. All forward-looking statements are subject to risks and uncertainties as outlined in Exzeo Group, Inc.’s filings with the SEC.

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