Filing Flows › Palomar Holdings (PLMR) › Q3 2025
Palomar Holdings (PLMR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Palomar Holdings (PLMR) reported revenue of $245M for the third quarter 2025 (Q3 2025), +65% from a year earlier and +20% from the quarter before. Operating margin was 27.4%, net earnings $51.5M (21.0% of revenue).
Palomar Holdings, Q3 2025: revenue $245M (+65% year over year), operating margin 27.4%, net earnings $51.5M, operating cash flow $83.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $245M | +20% | +65% |
| Operating profit | $67.1M | +12% | +74% |
| Net earnings | $51.5M | +11% | +69% |
| Operating cash flow | $83.6M | -31% | -17% |
| Free cash flow | $83.6M | -31% | -16% |
What changed
Revenue was $244.7M in Q3 2025, up 65% year over year and up 20% from the previous quarter.
Operating profit was $67.1M, a 27.4% margin (up 1.5 points year over year). Of the extra revenue versus a year earlier, 30% reached operating profit, above the 26% margin then. Total costs grew 61% against revenue growth of 65%. Net earnings were $51.5M, up 69% year over year. The effective tax rate was 23.4%.
Operating cash flow was $83.6M (down 17% year over year), 163% of net earnings. Non-cash charges added back $5.4M of share-based compensation. Working capital and other items added $26.8M. Capital expenditures of $51K left free cash flow of $83.6M.
Questions
What was Palomar Holdings' revenue in the third quarter 2025?
Palomar Holdings (PLMR) reported revenue of $245M for the third quarter 2025 (Q3 2025), +65% from a year earlier and +20% from the quarter before.
Was Palomar Holdings profitable in the third quarter 2025?
Operating profit was $67.1M (27.4% of revenue) and net earnings $51.5M.
Source: Palomar Holdings 10-Q on SEC EDGAR.