Filing Flows › Neptune Insurance Holdings (NP) › Q3 2025
Neptune Insurance Holdings (NP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 12, 2025
Neptune Insurance Holdings (NP) reported revenue of $44.4M for the third quarter 2025 (Q3 2025), +31% from a year earlier and +5% from the quarter before. Operating margin was 46.7%, net earnings $11.5M (25.9% of revenue).
Neptune Insurance Holdings, Q3 2025: revenue $44.4M (+31% year over year), operating margin 46.7%, net earnings $11.5M, operating cash flow $16.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.4M | +5% | +31% |
| Operating profit | $20.7M | -3% | +4% |
| Net earnings | $11.5M | -0.9% | -5% |
| Operating cash flow | $16.0M | +84% | — |
What changed
Revenue was $44.4M in Q3 2025, up 31% year over year and up 5% from the previous quarter.
Operating profit was $20.7M, a 46.7% margin (down 11.9 points year over year). Of the extra revenue versus a year earlier, 8% reached operating profit, below the 59% margin then. Total costs grew 69% against revenue growth of 31%. The fastest-growing cost line was Other operating costs (+78%). Net earnings were $11.5M, down 5% year over year. The effective tax rate was 25.6%.
Operating cash flow was $16.0M, 139% of net earnings. Non-cash charges added back $948K of depreciation and amortization and $112K of share-based compensation. Working capital and other items added $3.4M.
Questions
What was Neptune Insurance Holdings' revenue in the third quarter 2025?
Neptune Insurance Holdings (NP) reported revenue of $44.4M for the third quarter 2025 (Q3 2025), +31% from a year earlier and +5% from the quarter before.
Was Neptune Insurance Holdings profitable in the third quarter 2025?
Operating profit was $20.7M (46.7% of revenue) and net earnings $11.5M.