Filing Flows › Neptune Insurance Holdings (NP) › Q1 2026
Neptune Insurance Holdings (NP) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
Neptune Insurance Holdings (NP) reported revenue of $37.8M for the first quarter 2026 (Q1 2026), +29% from a year earlier and -14% from the quarter before. Operating margin was 35.6%, net earnings $7.3M (19.4% of revenue).
Neptune Insurance Holdings, Q1 2026: revenue $37.8M (+29% year over year), operating margin 35.6%, net earnings $7.3M, operating cash flow $16.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $37.8M | -14% | +29% |
| Operating profit | $13.4M | +0.8% | -14% |
| Net earnings | $7.3M | +69% | -26% |
| Operating cash flow | $16.7M | +31% | +17% |
What changed
Revenue was $37.8M in Q1 2026, up 29% year over year and down 14% from the previous quarter. Commission income was the largest line at 77% of revenue. Commission income added $6.3M year over year (up 28%), 75% of the total change.
Operating profit was $13.4M, a 35.6% margin (down 17.7 points year over year). Operating profit fell $2.2M even though revenue rose $8.4M versus a year earlier, so costs grew faster than sales. Total costs grew 77% against revenue growth of 29%. The fastest-growing cost line was Other operating costs (+85%). Net earnings were $7.3M, down 26% year over year. The effective tax rate was 27.1%.
Operating cash flow was $16.7M (up 17% year over year), 227% of net earnings. Non-cash charges added back $6.9M of share-based compensation. Working capital and other items added $2.5M.
Questions
What was Neptune Insurance Holdings' revenue in the first quarter 2026?
Neptune Insurance Holdings (NP) reported revenue of $37.8M for the first quarter 2026 (Q1 2026), +29% from a year earlier and -14% from the quarter before.
Was Neptune Insurance Holdings profitable in the first quarter 2026?
Operating profit was $13.4M (35.6% of revenue) and net earnings $7.3M.