Filing Flows › Bowhead Specialty Holdings (BOW) › Q1 2025
Bowhead Specialty Holdings (BOW) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Bowhead Specialty Holdings (BOW) reported revenue of $123M for the first quarter 2025 (Q1 2025), +35% from a year earlier and +3% from the quarter before. Operating margin was 11.8%, net earnings $11.4M (9.3% of revenue).
Bowhead Specialty Holdings, Q1 2025: revenue $123M (+35% year over year), operating margin 11.8%, net earnings $11.4M, operating cash flow $47.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $123M | +3% | +35% |
| Operating profit | $14.5M | -21% | +60% |
| Net earnings | $11.4M | -16% | +63% |
| Operating cash flow | $47.7M | -22% | +14% |
| Free cash flow | $46.5M | -24% | +13% |
What changed
Revenue was $122.7M in Q1 2025, up 35% year over year and up 3% from the previous quarter.
Operating profit was $14.5M, a 11.8% margin (up 1.8 points year over year). Of the extra revenue versus a year earlier, 17% reached operating profit, above the 10% margin then. Total costs grew 33% against revenue growth of 35%. Net earnings were $11.4M, up 63% year over year. The effective tax rate was 21.0%.
Operating cash flow was $47.7M (up 14% year over year), 418% of net earnings. Non-cash charges added back $401K of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $34.6M. Capital expenditures of $1.2M left free cash flow of $46.5M.
Questions
What was Bowhead Specialty Holdings' revenue in the first quarter 2025?
Bowhead Specialty Holdings (BOW) reported revenue of $123M for the first quarter 2025 (Q1 2025), +35% from a year earlier and +3% from the quarter before.
Was Bowhead Specialty Holdings profitable in the first quarter 2025?
Operating profit was $14.5M (11.8% of revenue) and net earnings $11.4M.