Neptune Insurance Holdings Inc. (NP) financial statements: income statement, balance sheet and cash flow
Neptune 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), Neptune Insurance Holdings Inc. reported revenue of $159.6M and net income of $37.4M.
Income statement
Neptune Insurance Holdings Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Total revenues
$159.6M
Agent commissions
$49.1M
Employee compensation and benefits
$16.9M
General and administrative
$10.0M
Amortization expense
$3.7M
IPO transaction costs
$8.9M
Total operating expenses
$88.6M
Income from operations
$71.0M
Interest income
$923.0K
Interest expense
($18.2M)
Loss on extinguishment of debt
$0
Income before income tax expense
$53.6M
Income tax expense
$16.2M
Net income
$37.4M
Accretion adjustment to redeemable preferred stock
($10.4M)
Allocation to participating preferred stock
$0
Cash dividend paid on redeemable preferred stock
($54.2M)
Net income available to common stockholders
($27.2M)
Basic (in dollars per share)
-$0.26
Diluted (in dollars per share)
-$0.26
Basic (in shares)
104.5M
Diluted (in shares)
104.5M
Neptune Insurance Holdings Inc. income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Commissions and fees
$59.6M
$55.9M
$37.8M
—
Agent commissions
$17.4M
$16.5M
$11.4M
$13.8M
Employee compensation and benefits
$9.2M
$8.4M
$8.4M
$1.8M
General and administrative
$4.1M
$3.4M
$3.6M
$2.1M
Amortization expense
$992.0K
$1.0M
$1.0M
$948.0K
Total operating expenses
$31.6M
$29.3M
$24.4M
$23.7M
Income from operations
$28.0M
$26.6M
$13.4M
$20.7M
Interest income
$329.0K
$262.0K
$165.0K
$281.0K
Interest expense
($3.6M)
($3.6M)
($3.5M)
($5.5M)
Income before income tax expense
$24.7M
$23.2M
$10.1M
$15.5M
Income tax expense
$7.5M
$7.4M
$2.7M
$4.0M
Net income
$17.3M
$15.8M
$7.3M
$11.5M
Net income (loss) available to common stockholders
$17.3M
$15.8M
$7.3M
$5.5M
Basic (in dollars per share)
$0.13
$0.11
$0.05
$0.06
Diluted (in dollars per share)
$0.12
$0.11
$0.05
$0.06
Basic (in shares)
137.3M
137.8M
138.2M
93.3M
Diluted (in shares)
146.4M
146.2M
145.8M
97.3M
Balance sheet
Neptune Insurance Holdings Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Cash and cash equivalents
$8.0M
Fiduciary cash
$32.5M
Fiduciary receivable
$5.4M
Commissions and fees receivable
$4.1M
Prepaid expenses and other current assets
$1.3M
Income tax receivable
$1.1M
Total current assets
$52.5M
Intangible assets, net
$466.0K
Internally developed software, net
$6.0M
Goodwill
$3.8M
Deferred tax assets
$802.0K
Deferred financing asset
$1.7M
Total assets
$65.3M
Accounts payable
$10.1M
Commissions payable
$3.8M
Insurance company payables
$18.9M
Income tax payable
$0
Accrued expenses
$977.0K
Premium deposits
$18.9M
Current portion of debt
$0
Total current liabilities
$52.8M
Debt, less current portion
$0
Revolving credit facility
$240.0M
Total liabilities
$292.8M
Redeemable, convertible preferred stock, value
$0
Common stock value
$1.0K
Accumulated deficit
($514.4M)
Additional paid-in capital
$286.9M
Total stockholders’ deficit
($227.5M)
Total liabilities, redeemable, convertible preferred stock, and stockholders’ deficit
$65.3M
Neptune Insurance Holdings Inc. balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$17.4M
$17.6M
$10.5M
$12.2M
Fiduciary cash
$60.5M
$59.5M
$49.9M
$46.9M
Fiduciary receivable
$6.1M
$6.7M
$6.1M
$4.5M
Commissions and fees receivable
$4.9M
$3.9M
$4.7M
$3.7M
Prepaid expenses and other current assets
$829.0K
$773.0K
$1.2M
$638.0K
Income tax receivable
$1.4M
$578.0K
$0
—
Total current assets
$91.2M
$89.0M
$72.5M
$76.3M
Intangible assets, net
$409.0K
$6.6M
$447.0K
$486.0K
Internally developed software, net
$6.3M
—
$6.1M
$5.9M
Goodwill
$3.8M
$3.8M
$3.8M
$3.8M
Deferred tax assets
$725.0K
$1.2M
$793.0K
$3.0M
Deferred financing asset
$1.5M
$1.6M
$1.7M
$109.0K
Total assets
$103.9M
$102.2M
$85.3M
$89.6M
Accounts payable
$27.4M
$11.0M
$8.7M
$11.2M
Commissions payable
$5.5M
$6.1M
$4.7M
$5.0M
Insurance company payables
$27.9M
$30.6M
$24.4M
$21.7M
Accrued expenses
$1.0M
$1.0M
$800.0K
$1.5M
Premium deposits
$38.7M
$35.6M
$31.5M
$29.6M
Total current liabilities
$100.5M
$84.5M
$71.7M
$85.1M
Revolving credit facility
$215.0M
$240.0M
$227.0M
—
Total liabilities
$315.5M
$324.5M
$298.7M
$348.3M
Common stock value
$1.0K
$1.0K
$1.0K
$1.0K
Accumulated deficit
($473.9M)
($491.2M)
($507.0M)
($518.7M)
Additional paid-in capital
$262.4M
$269.0M
$293.6M
$9.1M
Total stockholders’ deficit
($211.6M)
($222.2M)
($213.4M)
($509.5M)
Total liabilities and stockholders’ deficit
$103.9M
$102.2M
$85.3M
$89.6M
Cash flow statement
Neptune Insurance Holdings Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Net income
$37.4M
Amortization expense
$3.7M
Amortization of deferred financing fees
$632.0K
Loss on extinguishment of debt
$0
Share-based compensation
$11.4M
Deferred income taxes
$2.0M
Commissions and fees receivable
($1.5M)
Income tax receivable
($1.1M)
Prepaid expenses and other current assets
($857.0K)
Deferred financing asset
$0
Accounts payable
$3.0M
Commissions payable
$1.3M
Income tax payable
($4.8M)
Accrued expenses
$511.0K
Net cash provided by operating activities
$51.7M
Internal developed software
($3.9M)
Purchase of intangible assets
($63.0K)
Net cash used in investing activities
($4.0M)
Change in fiduciary receivables
($1.3M)
Change in fiduciary liabilities
$12.8M
Repayments of term loan
($436.0M)
Proceeds from term loan
$301.0M
Payment of deferred financing fees and prepayment penalty
($939.0K)
Issuance of common stock
$0
Rescission of common stock
$0
Issuance of redeemable, convertible preferred stock, net of issuance costs
$0
Proceeds from revolving credit facility
$251.0M
Repayments of revolving credit facility
($11.0M)
Proceeds from exercise of stock options
$15.7M
Contributed capital, stockholder reimbursement of IPO transaction costs
$8.5M
Cash dividend paid
($175.0M)
Net cash used in financing activities
($35.2M)
Net increase in cash and cash equivalents and fiduciary cash
$12.5M
Beginning of period
$28.1M
End of period
$40.5M
Cash and cash equivalents
$8.0M
Fiduciary cash
$32.5M
Total cash and cash equivalents and fiduciary cash
$40.5M
Interest
$17.1M
Total income taxes paid
$20.2M
Reclassification of unamortized deferred financing fees to deferred financing asset
$1.3M
Neptune Insurance Holdings Inc. cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net income
$40.4M
$23.1M
$7.3M
$33.1M
Amortization expense
$3.0M
$2.0M
$1.0M
$2.7M
Amortization of deferred financing costs
$270.0K
$179.0K
$90.0K
$483.0K
Share-based compensation
$20.8M
$13.8M
$6.9M
$299.0K
Deferred income taxes
$76.0K
($390.0K)
$9.0K
($176.0K)
Commissions and fees receivable
($875.0K)
$190.0K
($652.0K)
($1.1M)
Income tax receivable
($283.0K)
$572.0K
$1.1M
—
Prepaid expenses and other current assets
$480.0K
$536.0K
$73.0K
($186.0K)
Deferred financing asset
$0
$0
—
($37.0K)
Accounts payable
$3.6M
$854.0K
($1.5M)
$4.1M
Commissions payable
$1.7M
$2.3M
$872.0K
$2.5M
Income tax payable
$0
$75.0K
$1.5M
($3.8M)
Accrued expenses
$29.0K
$70.0K
($177.0K)
$992.0K
Net cash provided by operating activities
$69.3M
$43.4M
$16.7M
$38.9M
Internally developed software
($3.2M)
($2.2M)
($1.1M)
($2.9M)
Purchases of intangible assets
$0
—
—
($63.0K)
Net cash used in investing activities
($3.2M)
($2.2M)
($1.1M)
($2.9M)
Change in fiduciary receivables
($731.0K)
($1.4M)
($728.0K)
—
Change in fiduciary liabilities
$28.7M
$28.3M
$18.1M
$26.3M
Repayments of term loan
$0
$0
$0
($172.0M)
Proceeds from 2025 Term Loan
$0
$0
—
—
Proceeds from revolving credit facility
$24.0M
$24.0M
—
—
Repayments of revolving credit facility
($49.0M)
($24.0M)
($13.0M)
—
Repurchase of common stock
($31.9M)
($31.9M)
—
—
Payment of deferred financing fees and prepayment penalty
$0
$0
—
($477.0K)
Proceeds from exercise of stock options
$902.0K
$1.8M
$1.0M
$15.6M
Taxes paid related to net share settlement of equity awards
($698.0K)
($1.7M)
($1.1M)
—
Cash dividend paid
$0
$0
—
($175.0M)
Net cash used in financing activities
($28.7M)
($4.7M)
$4.3M
($5.0M)
Net increase in cash and cash equivalents and fiduciary cash
$37.4M
$36.5M
$19.8M
$31.0M
Beginning of period
$40.5M
$40.5M
$40.5M
$28.1M
End of period
$77.9M
$77.0M
$60.4M
$59.0M
Cash and cash equivalents
$17.4M
$17.6M
$10.5M
$12.2M
Fiduciary cash
$60.5M
$59.5M
$49.9M
$46.9M
Total cash and cash equivalents and fiduciary cash
$77.9M
$77.0M
$60.4M
$59.0M
Taxes related to net share settlement of equity awards accrued but not paid
13.6M
—
—
—
Exercise price of stock options paid with shares withheld
1.5M
—
—
—
Shareholder reimbursement of IPO transaction costs