Filing Flows › NI Holdings (NODK) › Q3 2026
NI Holdings (NODK) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
NI Holdings (NODK) reported revenue of $68.6M for the third quarter 2026 (Q3 2026), -10% from a year earlier and -2% from the quarter before. Operating margin was 10.2%, net earnings $5.5M (8.1% of revenue).
NI Holdings, Q3 2026: revenue $68.6M (-10% year over year), operating margin 10.2%, net earnings $5.5M, operating cash flow −$15.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $68.6M | -2% | -10% |
| Gross profit | $23.6M | +42% | +50% |
| Operating profit | $7.0M | 30× | — |
| Net earnings | $5.5M | 38× | — |
| Operating cash flow | −$15.1M | -1750% | — |
What changed
Revenue was $68.6M in Q3 2026, down 10% year over year and down 2% from the previous quarter.
Gross margin was 34.4%, up 13.9 points from Q3 2025. Operating profit was $7.0M, a 10.2% margin (up 12.7 points year over year). Operating expenses fell 5% while revenue fell 10%. Net earnings were $5.5M. The effective tax rate was 21.2%.
Operating cash flow was −$15.1M. Non-cash charges added back $114K of depreciation and $365K of share-based compensation. Working capital and other items used $21.1M. Capital expenditures of $222K exceeded it, leaving free cash flow of −$15.3M.
Questions
What was NI Holdings' revenue in the third quarter 2026?
NI Holdings (NODK) reported revenue of $68.6M for the third quarter 2026 (Q3 2026), -10% from a year earlier and -2% from the quarter before.
Was NI Holdings profitable in the third quarter 2026?
Operating profit was $7.0M (10.2% of revenue) and net earnings $5.5M.
Source: NI Holdings 10-Q on SEC EDGAR.