Heritage Insurance Holdings, Inc. (HRTG) financial statements: income statement, balance sheet and cash flow
Heritage Insurance Holdings, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Heritage Insurance Holdings, Inc. reported revenue of $847.3M (+3.7% year on year) and net income of $195.6M (+217.8% year on year).
Income statement
Heritage Insurance Holdings, Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Gross premiums written
$1.4B
$1.4B
$1.3B
$1.3B
Change in gross unearned premiums
($5.2M)
($26.8M)
($19.5M)
($66.2M)
Gross premiums earned
$1.4B
$1.4B
$1.3B
$1.2B
Ceded premiums earned
($636.9M)
($638.2M)
($626.5M)
($571.8M)
Net premiums earned
$794.2M
$767.9M
$697.2M
$637.1M
Net investment income
$37.2M
$36.6M
$25.8M
$12.0M
Net realized gains (losses) on debt securities and other investments
$2.7M
($705.0K)
($972.0K)
—
Other revenue
$13.3M
$13.2M
$13.5M
$13.7M
Total revenues
$847.3M
$817.0M
$735.5M
$662.5M
Losses and loss adjustment expenses
$313.2M
$447.0M
$426.1M
$501.2M
Policy acquisition costs
$174.0M
$191.2M
$167.6M
$156.3M
General and administrative expenses, net of ceding commission income
$93.0M
$85.1M
$77.8M
$70.4M
Intangible asset impairment
$0
$0
$767.0K
—
Total expenses
$580.2M
$723.4M
$672.3M
$819.8M
Operating income
$267.2M
$93.6M
$63.2M
($157.4M)
Interest expense
$7.9M
$10.9M
—
—
Income before income taxes
$259.3M
$82.7M
$52.0M
($166.2M)
Income tax expense
$63.7M
$21.1M
$6.7M
($11.8M)
Net income (loss)
$195.6M
$61.5M
$45.3M
($154.4M)
Change in net unrealized gains on investments
$23.6M
$8.8M
$23.4M
($64.3M)
Reclassification adjustment for net realized investment losses (gains)
$107.0K
($51.0K)
$636.0K
$258.0K
Income tax expense related to items of other comprehensive income
($5.6M)
($2.1M)
($5.7M)
$15.1M
Total comprehensive income
$213.6M
$68.2M
$63.6M
($203.4M)
Basic (in shares)
30.9M
30.6M
26.2M
26.3M
Diluted (in shares)
30.9M
30.7M
26.3M
26.3M
Basic (in dollars per share)
$6.33
$2.01
$1.73
-$5.86
Diluted (in dollars per share)
$6.32
$2.01
$1.73
-$5.86
Heritage Insurance Holdings, Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Gross premiums written
$388.4M
$346.7M
$333.2M
$411.0M
Change in gross unearned premiums
($37.3M)
$6.8M
$28.8M
($57.4M)
Gross premiums earned
$351.2M
$353.6M
$362.0M
$353.6M
Ceded premiums
($150.0M)
($153.9M)
($166.8M)
($157.3M)
Net premiums earned
$201.1M
$199.7M
$195.1M
$196.3M
Net investment income
$10.6M
$9.9M
$9.7M
$9.0M
Net realized (losses) gains on debt securities and other investments
($37.0K)
$16.0K
$2.7M
$4.0K
Other revenue
$2.5M
$3.1M
$4.9M
$2.7M
Total revenues
$214.2M
$212.7M
$212.5M
$208.0M
Losses and loss adjustment expenses
$61.1M
$91.6M
$74.8M
$75.6M
Policy acquisition costs, net of ceding commission income
$45.5M
$45.3M
$45.2M
$43.1M
General and administrative expenses, net of ceding commission income
$23.8M
$24.9M
$22.3M
$24.4M
Total expenses
$130.3M
$161.8M
$142.3M
$143.2M
Operating income
$83.8M
$50.8M
$70.2M
$64.9M
Interest expense, net
$1.7M
$1.8M
$1.9M
$1.9M
Income before income taxes
$82.2M
$49.0M
$68.3M
$63.0M
Income tax expense
$20.4M
$12.6M
$17.9M
$15.0M
Net income (loss)
$61.7M
$36.5M
$50.4M
$48.0M
Change in net unrealized (losses) gains on investments
($1.9M)
($4.5M)
$6.0M
$6.1M
Reclassification adjustment for net realized investment losses
$37.0K
($16.0K)
($5.0K)
($4.0K)
Income tax benefits (expense) related to items of other comprehensive income
$452.0K
$1.1M
($1.4M)
($1.4M)
Total comprehensive income
$60.3M
$33.0M
$55.0M
$52.6M
Basic (in shares)
30.0M
30.7M
31.0M
31.0M
Diluted (in shares)
30.1M
30.7M
31.0M
31.1M
Basic (in dollars per share)
$2.06
$1.19
$1.63
$1.55
Diluted (in dollars per share)
$2.05
$1.19
$1.63
$1.55
Balance sheet
Heritage Insurance Holdings, Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Fixed maturities, available-for-sale, at fair value (amortized cost of $726,774 and $692,790)
$713.2M
$655.6M
$560.7M
$635.6M
Equity securities, at fair value, (cost $1,064 and $1,936)
$1.1M
$1.9M
$1.7M
$1.5M
Other investments, net
$1.3M
$6.0M
$7.1M
$16.5M
Total investments
$715.6M
$663.4M
$569.4M
$653.6M
Cash and cash equivalents
$559.3M
$452.7M
$463.6M
$280.9M
Restricted cash
$13.3M
$11.0M
$9.7M
$6.7M
Accrued investment income
$6.6M
$5.6M
$4.1M
$3.8M
Premiums receivable, net
$95.3M
$102.1M
$89.5M
$92.7M
Reinsurance recoverable on paid and unpaid claims, net of allowance for credit losses of $175 and $197
$318.6M
$740.2M
$482.4M
$805.1M
Prepaid reinsurance premiums
$307.0M
$309.8M
$294.2M
$307.0M
Deferred income tax asset, net
$5.9M
$13.9M
$11.1M
$16.8M
Deferred policy acquisition costs, net
$64.5M
$63.2M
$102.9M
$99.6M
Property and equipment, net
$28.3M
$38.1M
$33.2M
$25.7M
Right-of-use lease asset, finance
$12.6M
$15.1M
$17.6M
$20.1M
Right-of-use lease asset, operating
$4.9M
$5.8M
$6.8M
$7.3M
Intangibles, net
$30.2M
$36.4M
$42.6M
$49.6M
Other assets
$33.8M
$11.6M
$12.7M
$11.5M
Total Assets
$2.2B
$2.5B
$2.2B
$2.4B
Unpaid losses and loss adjustment expenses
$579.5M
$1.0B
$846.0M
$1.1B
Unearned premiums
$707.9M
$702.7M
$675.9M
$656.6M
Reinsurance payable
$232.8M
$227.1M
$159.8M
$199.8M
Long-term debt, net
$78.4M
$116.3M
$119.7M
$128.9M
Advance premiums
$19.2M
$15.2M
$23.9M
$26.5M
Income taxes payable, net
$4.3M
$846.0K
—
—
Accrued compensation
$8.8M
$8.9M
$9.5M
$6.6M
Lease liability, finance
$15.6M
$18.1M
$20.4M
$22.6M
Lease liability, operating
$5.8M
$6.9M
$8.1M
$8.7M
Accounts payable and other liabilities
$38.3M
$39.4M
$69.7M
$80.0M
Total Liabilities
$1.7B
$2.2B
$1.9B
$2.3B
Common stock, $0.0001 par value, 50,000,000 shares authorized, 43,171,585 shares issued and 30,833,776 outstanding at December 31, 2025 and 42,838,713 shares issued and 30,607,039 outstanding at December 31, 2024
3.0K
3.0K
3.0K
3.0K
Additional paid-in capital
$365.7M
$362.6M
$360.3M
$334.7M
Accumulated other comprehensive income, net of taxes
($10.6M)
($28.6M)
($35.3M)
($53.6M)
Treasury stock, at cost, 12,337,809 and 12,231,674 shares December 31, 2025 and 2024, respectively
-133.2M
-130.9M
—
—
Retained earnings
$283.3M
$87.7M
$26.1M
($19.2M)
Total Stockholders' Equity
$505.3M
$290.8M
$220.3M
$131.0M
Total Liabilities and Stockholders' Equity
$2.2B
$2.5B
$2.2B
$2.4B
Heritage Insurance Holdings, Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Fixed maturities, available-for-sale, at fair value (amortized cost of $821,858 and $726,774)
$801.9M
$751.4M
$700.8M
$665.4M
Equity securities, at fair value, (cost $816 and $1,064)
$816.0K
$1.1M
$1.1M
$1.1M
Other investments, net
$1.3M
$1.3M
$1.3M
$4.9M
Total investments
$804.0M
$753.7M
$703.2M
$671.3M
Cash and cash equivalents
$587.6M
$517.1M
$560.4M
$473.5M
Restricted cash
$13.8M
$16.2M
$13.3M
$13.5M
Accrued investment income
$7.5M
$6.3M
$5.5M
$5.5M
Premiums receivable, net
$94.0M
$94.0M
$87.5M
$99.7M
Reinsurance recoverable on paid and unpaid claims, net of allowance for credit losses of $175
$305.2M
$261.2M
$379.5M
$524.0M
Prepaid reinsurance premiums
$460.7M
$194.6M
$426.1M
$530.3M
Deferred income tax asset, net
$6.0M
$5.6M
$7.6M
$11.4M
Deferred policy acquisition costs, net
$68.9M
$64.4M
$66.8M
$70.9M
Property and equipment, net
$27.7M
$28.4M
$27.6M
$38.9M
Right-of-use lease asset, finance
$11.4M
$12.0M
$13.2M
$13.8M
Right-of-use lease asset, operating
$6.1M
$6.3M
$5.2M
$5.2M
Intangibles, net
$27.1M
$28.6M
$31.7M
$33.3M
Other assets
$32.4M
$32.6M
$33.4M
$26.2M
Total Assets
$2.5B
$2.0B
$2.4B
$2.5B
Unpaid losses and loss adjustment expenses
$482.0M
$544.0M
$649.6M
$713.2M
Unearned premiums
$738.4M
$701.1M
$733.4M
$762.2M
Reinsurance payable
$501.0M
$73.5M
$378.9M
$502.3M
Long-term debt, net
$71.3M
$77.6M
$79.3M
$92.4M
Advance premiums
$26.6M
$30.8M
$26.3M
$18.6M
Income taxes payable, net
$5.7M
$15.5M
$0
$0
Accrued compensation
$6.6M
$4.9M
$7.7M
$6.4M
Lease liability, finance
$14.3M
$14.9M
$16.3M
$16.9M
Lease liability, operating
$6.3M
$6.5M
$6.2M
$6.3M
Accounts payable and other liabilities
$32.5M
$31.7M
$32.5M
$35.3M
Total Liabilities
$1.9B
$1.5B
$1.9B
$2.2B
Common stock, $0.0001 par value, 50,000,000 shares authorized, 43,071,733 shares issued and 29,732,416 outstanding at June 30, 2026 and 43,171,585 shares issued and 30,833,776 outstanding at December 31, 2025
3.0K
3.0K
3.0K
3.0K
Additional paid-in capital
$359.5M
$357.8M
$366.8M
$365.6M
Accumulated other comprehensive loss, net of taxes
($15.4M)
($14.0M)
($12.9M)
($17.5M)
Treasury stock, at cost, 13,339,317 and 12,337,809 shares at June 30, 2026 and December 31, 2025, respectively
-157.8M
-143.2M
-133.2M
-130.9M
Retained earnings
$381.4M
$319.7M
$216.6M
$166.2M
Total Stockholders' Equity
$567.7M
$520.4M
$437.3M
$383.3M
Total Liabilities and Stockholders' Equity
$2.5B
$2.0B
$2.4B
$2.5B
Cash flow statement
Heritage Insurance Holdings, Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$195.6M
$61.5M
$45.3M
($154.4M)
Stock-based compensation
$5.4M
$3.3M
$1.4M
$2.0M
Bond amortization and accretion
($779.0K)
($2.6M)
($3.5M)
$3.1M
Amortization of original issuance discount on debt
$363.0K
$857.0K
$469.0K
$1.0M
Depreciation and amortization
$12.7M
$9.6M
$8.7M
$8.4M
Provision for credit losses
$368.0K
—
—
—
Net realized (gains) losses
($2.7M)
—
—
—
Deferred income taxes
$2.4M
($4.8M)
$40.0K
($11.2M)
Goodwill or intangible asset impairment
$0
$0
$767.0K
—
Accrued investment income
($964.0K)
($1.5M)
($251.0K)
($650.0K)
Premiums receivable, net
$6.4M
($12.7M)
$2.4M
($20.8M)
Prepaid reinsurance premiums
$2.8M
($15.6M)
$12.8M
($41.1M)
Reinsurance recoverable on paid and unpaid claims
$421.6M
($257.8M)
$322.6M
($535.7M)
Income taxes receivable
$0
$13.4M
($1.2M)
($379.0K)
Deferred policy acquisition costs, net
($1.3M)
$6.1M
($3.3M)
($5.7M)
Right-of-use asset, net
$3.5M
$3.5M
$3.0M
$286.0K
Other assets
($11.2M)
$1.0M
($1.2M)
$763.0K
Unpaid losses and loss adjustment expenses
($463.2M)
$196.7M
($285.9M)
$541.6M
Unearned premiums
$5.2M
$26.8M
$19.3M
$66.2M
Reinsurance payable
$5.7M
$67.2M
($40.0M)
$8.1M
Income taxes payable
$3.4M
$846.0K
—
—
Debt issuance costs
($2.2M)
—
—
—
Accrued interest
$121.0K
($179.0K)
($410.0K)
($3.0K)
Advance premiums
$4.0M
($8.7M)
($2.6M)
$2.0M
Accrued compensation
($82.0K)
($535.0K)
$2.9M
($1.4M)
Lease liability, net
($3.6M)
($3.4M)
($2.8M)
$75.0K
Other liabilities
($1.2M)
$3.5M
($9.9M)
$10.1M
Net cash provided by operating activities
$182.2M
$87.1M
$70.4M
($34.3M)
Fixed maturity securities sales, maturities and paydowns
$311.3M
$203.5M
$332.5M
$93.7M
Fixed maturity securities purchases
($344.6M)
($287.0M)
($230.7M)
($127.4M)
Redemption of equity securities
$893.0K
—
—
—
Return on other investments
$4.7M
$359.0K
$1.1M
$14.9M
Other investment sales
$0
$0
$8.0M
—
Equity securities reinvestments of dividends
($21.0K)
($270.0K)
($152.0K)
—
Proceeds from the sale of property
$3.2M
—
—
—
Cost of property and equipment acquired
($8.1M)
($8.2M)
($9.9M)
($1.7M)
Net cash (used in) provided by investing activities
($32.7M)
($91.6M)
$100.8M
($37.9M)
Proceeds from loan agreement
$0
$5.5M
—
—
Issuance of common stock, net of offering costs
$0
($3.0K)
$24.7M
—
Mortgage loan payments
($10.8M)
($270.0K)
($180.0K)
($322.0K)
Principal payments on term loan facility
($6.1M)
($9.5M)
($9.5M)
($5.0M)
Repayment of loan agreement
($19.2M)
—
—
—
Tax withholding on share-based compensation awards
($2.3M)
($971.0K)
($429.0K)
($94.0K)
Purchase of treasury stock
($2.3M)
$0
$0
($7.3M)
Dividends forfeited (paid)
$0
$54.0K
—
—
Heritage Insurance Holdings, Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$98.2M
$36.5M
$128.9M
$78.5M
Stock-based compensation
$2.7M
$986.0K
$4.2M
$2.9M
Bond amortization and accretion
($388.0K)
($151.0K)
($377.0K)
($208.0K)
Expected credit allowance on reinsurance
$0
—
($22.0K)
$22.0K
Amortization of original issuance discount on debt
$235.0K
$123.0K
$251.0K
$140.0K
Depreciation and amortization
$6.1M
$3.2M
$9.2M
$5.9M
Provision for credit losses
($196.0K)
($77.0K)
—
—
Net realized losses
($21.0K)
$16.0K
—
—
Deferred income taxes
$1.4M
$1.3M
$1.4M
($939.0K)
Gain on sale of fixed assets, net
$0
—
—
($4.0K)
Accrued investment income
($951.0K)
$284.0K
$126.0K
$43.0K
Premiums receivable, net
$1.5M
$1.4M
$14.3M
$2.2M
Prepaid reinsurance premiums
($153.7M)
$112.4M
($116.3M)
($220.5M)
Reinsurance recoverable on paid and unpaid claims
$13.4M
$57.4M
$360.7M
$216.1M
Income tax receivable
$0
—
($6.4M)
($19.1M)
Deferred policy acquisition costs
($4.4M)
$177.0K
($3.6M)
($7.7M)
Right of use leased asset, net
$16.0K
($830.0K)
$2.5M
$1.8M
Other assets
$1.4M
$1.2M
($10.8M)
($14.5M)
Unpaid losses and loss adjustment expenses
($97.5M)
($35.4M)
($393.1M)
($329.5M)
Unearned premiums
$30.5M
($6.8M)
$30.7M
$59.5M
Reinsurance payable
$268.2M
($159.3M)
$151.9M
$275.2M
Accrued interest
($7.0K)
$2.0K
($313.0K)
($125.0K)
Accrued compensation
($2.2M)
($3.9M)
($1.2M)
($2.5M)
Advance premiums
$7.5M
$11.6M
$11.1M
$3.4M
Leased liabilities, net
($840.0K)
$48.0K
($2.6M)
($1.9M)
Income tax payable
$1.4M
$11.2M
($846.0K)
($846.0K)
Other liabilities
($5.7M)
($6.5M)
($6.7M)
($4.0M)
Net cash provided by operating activities
$166.6M
$24.9M
$168.4M
$44.1M
Fixed maturity securities sales, maturities and paydowns
$66.8M
$34.6M
$185.8M
$91.2M
Fixed maturity securities purchases
($161.5M)
($77.2M)
($210.1M)
($86.3M)
Redemption of equity securities
$0
$0
$893.0K
$893.0K
Proceeds from sale of assets
$0
$17.0K
$2.9M
$16.0K
Return on other investments
$26.0K
$26.0K
$4.7M
$1.1M
Equity securities reinvestments of dividends
$248.0K
($11.0K)
($21.0K)
($21.0K)
Cost of property and equipment acquired, net of disposals
($2.5M)
($1.8M)
($5.2M)
($3.6M)
Net cash used in (provided by) investing activities
($96.9M)
($44.3M)
($21.1M)
$3.3M
Principal payments on term loan facility
($1.9M)
($938.0K)
($5.1M)
($4.8M)
Purchase of treasury stock
($24.6M)
($10.0M)
—
—
Repayment of loan agreement
($5.5M)
$0
($19.2M)
($19.2M)
Tax withholding on share-based compensation awards
($8.9M)
($8.9M)
—
—
Mortgage loan payments
$0
$0
($10.6M)
($148.0K)
Net cash used in financing activities
($40.9M)
($19.9M)
($37.2M)
($24.1M)
Increase in cash, cash equivalents, and restricted cash
$28.8M
($39.3M)
$110.1M
$23.3M
Cash, cash equivalents and restricted cash, beginning of period
$572.6M
$572.6M
$463.6M
$463.6M
Cash, cash equivalents and restricted cash, end of period