Filing Flows › Exzeo Group (XZO) › Q1 2026
Exzeo Group (XZO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Exzeo Group (XZO) reported revenue of $55.5M for the first quarter 2026 (Q1 2026), +6% from a year earlier and +4% from the quarter before. Operating margin was 45.2%, net earnings $20.4M (36.7% of revenue).
Exzeo Group, Q1 2026: revenue $55.5M (+6% year over year), operating margin 45.2%, net earnings $20.4M, operating cash flow $25.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $55.5M | +4% | +6% |
| Gross profit | $32.7M | -6% | +14% |
| Operating profit | $25.1M | -6% | +5% |
| Net earnings | $20.4M | -7% | +14% |
| Operating cash flow | $25.5M | +126% | +29% |
| Free cash flow | $25.1M | — | +32% |
What changed
Revenue was $55.5M in Q1 2026, up 6% year over year and up 4% from the previous quarter. Underwriting and Management Services was the largest line at 83% of revenue. Underwriting and Management Services added $2.7M year over year (up 6%), 86% of the total change.
Gross margin was 59.0%, up 4.0 points from a year earlier. Operating profit was $25.1M, a 45.2% margin (down 0.3 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, below the 45% margin then. Operating expenses grew 53% against revenue growth of 6%. The fastest-growing cost line was SG&A (+93%). Net earnings were $20.4M, up 14% year over year. The effective tax rate was 26.0%.
Operating cash flow was $25.5M (up 29% year over year), 125% of net earnings. Non-cash charges added back $730K of depreciation and amortization and $740K of share-based compensation. Working capital and other items added $3.6M. After capital expenditures ($327K), free cash flow as the company reports it was $25.1M.
Questions
What was Exzeo Group's revenue in the first quarter 2026?
Exzeo Group (XZO) reported revenue of $55.5M for the first quarter 2026 (Q1 2026), +6% from a year earlier and +4% from the quarter before.
Was Exzeo Group profitable in the first quarter 2026?
Operating profit was $25.1M (45.2% of revenue) and net earnings $20.4M.
Source: Exzeo Group 10-Q on SEC EDGAR.