Filing Flows › Palomar Holdings (PLMR) › Q4 2025
Palomar Holdings (PLMR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Palomar Holdings (PLMR) reported revenue of $253M for the fourth quarter 2025 (Q4 2025), +63% from a year earlier and +4% from the quarter before. Operating margin was 28.7%, net earnings $56.2M (22.2% of revenue).
Palomar Holdings, Q4 2025: revenue $253M (+63% year over year), operating margin 28.7%, net earnings $56.2M, operating cash flow $117M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $253M | +4% | +63% |
| Operating profit | $72.7M | +8% | +62% |
| Net earnings | $56.2M | +9% | +61% |
| Operating cash flow | $117M | +40% | +62% |
| Free cash flow | $117M | +40% | +62% |
What changed
Revenue was $253.4M in Q4 2025, up 63% year over year and up 4% from the previous quarter.
Operating profit was $72.7M, a 28.7% margin (down 0.2 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, below the 29% margin then. Total costs grew 63% against revenue growth of 63%. Net earnings were $56.2M, up 61% year over year. The effective tax rate was 22.7%.
Operating cash flow was $117.4M (up 62% year over year), 209% of net earnings. Non-cash charges added back $5.5M of share-based compensation. Working capital and other items added $55.7M. Capital expenditures of $22K left free cash flow of $117.4M.
Questions
What was Palomar Holdings' revenue in the fourth quarter 2025?
Palomar Holdings (PLMR) reported revenue of $253M for the fourth quarter 2025 (Q4 2025), +63% from a year earlier and +4% from the quarter before.
Was Palomar Holdings profitable in the fourth quarter 2025?
Operating profit was $72.7M (28.7% of revenue) and net earnings $56.2M.
Source: Palomar Holdings 10-K on SEC EDGAR.