Filing Flows › NMI Holdings (NMIH) › Q3 2026 › vs Q2 2026
NMI Holdings (NMIH) Q3 2026 vs Q2 2026 (quarter over quarter)
NMI Holdings's revenue fell $341K (-0.2%) from $188M in Q2 2026 to $188M in Q3 2026. Operating margin 64.1% against 72.9% (-8.7 pts).
NMI Holdings, Q3 2026: revenue $188M (+5% year over year), operating margin 64.1%, net earnings $93.5M, operating cash flow $111M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 64.1% | 72.9% | -8.7 pts |
| Net margin | 49.8% | 56.3% | -6.5 pts |
| Free cash flow margin | 58.1% | 74.6% | -16.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $188M | $188M | −$341K | -0.2% |
| Operating profit | $120M | $137M | −$16.6M | -12% |
| Costs & expenses | $67.2M | $50.9M | $16.3M | +32% |
| Pre-tax earnings | $120M | $137M | −$16.6M | -12% |
| Net earnings | $93.5M | $106M | −$12.3M | -12% |
| Income tax | $26.8M | $31.2M | −$4.3M | -14% |
| Depreciation & amortization | $2.3M | $2.5M | −$152K | -6% |
| Share-based compensation | $5.7M | $5.3M | $430K | +8% |
| Working capital & other | $9.4M | $29.1M | −$19.6M | -68% |
| Operating cash flow | $111M | $143M | −$31.7M | -22% |
| Free cash flow (OCF − capex) | $109M | $140M | −$31.3M | -22% |
| Capital expenditures | $2.0M | $2.4M | −$352K | -15% |
Questions
How much did NMI Holdings's revenue grow quarter over quarter in Q3 2026?
NMI Holdings's revenue fell $341K (-0.2%) from $188M in Q2 2026 to $188M in Q3 2026. Operating margin 64.1% against 72.9% (-8.7 pts).