Filing Flows › NMI Holdings (NMIH) › Q2 2026 › vs Q2 2025
NMI Holdings (NMIH) Q2 2026 vs Q2 2025 (year over year)
NMI Holdings's revenue rose $14.1M (+8%) from $174M in Q2 2025 to $188M in Q2 2026. Operating margin 72.9% against 71.1% (+1.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 72.9% | 71.1% | +1.8 pts |
| Net margin | 56.3% | 55.3% | +1.0 pts |
| Free cash flow margin | 74.6% | 72.9% | +1.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $188M | $174M | $14.1M | +8% |
| Operating profit | $137M | $124M | $13.3M | +11% |
| Costs & expenses | $50.9M | $50.2M | $767K | +2% |
| Pre-tax earnings | $137M | $124M | $13.3M | +11% |
| Net earnings | $106M | $96.2M | $9.6M | +10% |
| Income tax | $31.2M | $27.4M | $3.7M | +14% |
| Depreciation & amortization | $2.5M | $2.8M | −$363K | -13% |
| Share-based compensation | $5.3M | $5.0M | $349K | +7% |
| Working capital & other | $29.1M | $24.4M | $4.7M | +19% |
| Operating cash flow | $143M | $128M | $14.3M | +11% |
| Free cash flow (OCF − capex) | $140M | $127M | $13.5M | +11% |
| Capital expenditures | $2.4M | $1.6M | $733K | +44% |
Questions
How much did NMI Holdings's revenue grow year over year in Q2 2026?
NMI Holdings's revenue rose $14.1M (+8%) from $174M in Q2 2025 to $188M in Q2 2026. Operating margin 72.9% against 71.1% (+1.8 pts).