Filing Flows › Exzeo Group (XZO) › Q3 2025
Exzeo Group (XZO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Dec 11, 2025
Exzeo Group (XZO) reported revenue of $55.2M for the third quarter 2025 (Q3 2025), +90% from a year earlier and -2% from the quarter before. Operating margin was 49.4%, net earnings $21.2M (38.3% of revenue).
Exzeo Group, Q3 2025: revenue $55.2M (+90% year over year), operating margin 49.4%, net earnings $21.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $55.2M | -2% | +90% |
| Gross profit | $33.8M | +0.7% | +204% |
| Operating profit | $27.3M | -3% | +305% |
| Net earnings | $21.2M | -2% | +302% |
What changed
Revenue was $55.2M in Q3 2025, up 90% year over year and down 2% from the previous quarter. Underwriting and Management Services was the largest line at 81% of revenue. Underwriting and Management Services added $22.8M year over year (up 103%), 88% of the total change.
Gross margin was 61.2%, up 23.0 points from a year earlier. Operating profit was $27.3M, a 49.4% margin (up 26.3 points year over year). Of the extra revenue versus a year earlier, 79% reached operating profit, above the 23% margin then. Operating expenses grew 49% against revenue growth of 90%. The fastest-growing cost line was SG&A (+52%). Net earnings were $21.2M, up 302% year over year. The effective tax rate was 25.4%.
Questions
What was Exzeo Group's revenue in the third quarter 2025?
Exzeo Group (XZO) reported revenue of $55.2M for the third quarter 2025 (Q3 2025), +90% from a year earlier and -2% from the quarter before.
Was Exzeo Group profitable in the third quarter 2025?
Operating profit was $27.3M (49.4% of revenue) and net earnings $21.2M.
Source: Exzeo Group 10-Q on SEC EDGAR.