Filing Flows › Bowhead Specialty Holdings (BOW) › Q2 2025
Bowhead Specialty Holdings (BOW) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Bowhead Specialty Holdings (BOW) reported revenue of $133M for the second quarter 2025 (Q2 2025), +35% from a year earlier and +9% from the quarter before. Operating margin was 11.9%, net earnings $12.3M (9.3% of revenue).
Bowhead Specialty Holdings, Q2 2025: revenue $133M (+35% year over year), operating margin 11.9%, net earnings $12.3M, operating cash flow $109M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $133M | +9% | +35% |
| Operating profit | $15.9M | +10% | +115% |
| Net earnings | $12.3M | +8% | +123% |
| Operating cash flow | $109M | +128% | +52% |
| Free cash flow | $107M | +131% | +52% |
What changed
Revenue was $133.3M in Q2 2025, up 35% year over year and up 9% from the previous quarter.
Operating profit was $15.9M, a 11.9% margin (up 4.5 points year over year). Of the extra revenue versus a year earlier, 25% reached operating profit, above the 7% margin then. Total costs grew 28% against revenue growth of 35%. Net earnings were $12.3M, up 123% year over year. The effective tax rate was 22.5%.
Operating cash flow was $109.0M (up 52% year over year), 883% of net earnings. Non-cash charges added back $356K of depreciation and amortization and $137K of share-based compensation. Working capital and other items added $96.1M. Capital expenditures of $1.6M left free cash flow of $107.4M.
Questions
What was Bowhead Specialty Holdings' revenue in the second quarter 2025?
Bowhead Specialty Holdings (BOW) reported revenue of $133M for the second quarter 2025 (Q2 2025), +35% from a year earlier and +9% from the quarter before.
Was Bowhead Specialty Holdings profitable in the second quarter 2025?
Operating profit was $15.9M (11.9% of revenue) and net earnings $12.3M.