Filing Flows › NMI Holdings (NMIH) › Q2 2026 › vs Q1 2026
NMI Holdings (NMIH) Q2 2026 vs Q1 2026 (quarter over quarter)
NMI Holdings's revenue rose $4.4M (+2%) from $183M in Q1 2026 to $188M in Q2 2026. Operating margin 72.9% against 68.1% (+4.8 pts).
NMI Holdings, Q2 2026: revenue $188M (+8% year over year), operating margin 72.9%, net earnings $106M, operating cash flow $143M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 72.9% | 68.1% | +4.8 pts |
| Net margin | 56.3% | 54.1% | +2.2 pts |
| Free cash flow margin | 74.6% | 62.7% | +12.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $188M | $183M | $4.4M | +2% |
| Operating profit | $137M | $125M | $12.0M | +10% |
| Costs & expenses | $50.9M | $58.5M | −$7.6M | -13% |
| Pre-tax earnings | $137M | $125M | $12.0M | +10% |
| Net earnings | $106M | $99.3M | $6.5M | +7% |
| Income tax | $31.2M | $25.6M | $5.5M | +22% |
| Depreciation & amortization | $2.5M | $2.5M | −$6K | -0.2% |
| Share-based compensation | $5.3M | $4.7M | $624K | +13% |
| Working capital & other | $29.1M | $9.6M | $19.5M | +203% |
| Operating cash flow | $143M | $116M | $26.5M | +23% |
| Free cash flow (OCF − capex) | $140M | $115M | $25.3M | +22% |
| Capital expenditures | $2.4M | $1.1M | $1.3M | +116% |
Questions
How much did NMI Holdings's revenue grow quarter over quarter in Q2 2026?
NMI Holdings's revenue rose $4.4M (+2%) from $183M in Q1 2026 to $188M in Q2 2026. Operating margin 72.9% against 68.1% (+4.8 pts).