Filing Flows › Exzeo Group (XZO) › Q4 2025
Exzeo Group (XZO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Exzeo Group (XZO) reported revenue of $53.3M for the fourth quarter 2025 (Q4 2025), +20% from a year earlier and -3% from the quarter before. Operating margin was 50.3%, net earnings $22.0M (41.2% of revenue).
Exzeo Group, Q4 2025: revenue $53.3M (+20% year over year), operating margin 50.3%, net earnings $22.0M, operating cash flow $11.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $53.3M | -3% | +20% |
| Gross profit | $34.9M | +3% | +86% |
| Operating profit | $26.8M | -2% | +72% |
| Net earnings | $22.0M | +4% | +88% |
| Operating cash flow | $11.3M | — | -43% |
What changed
Revenue was $53.3M in Q4 2025, up 20% year over year and down 3% from the previous quarter. Underwriting and Management Services was the largest line at 81% of revenue.
Gross margin was 65.4%, up 23.4 points from a year earlier. Operating profit was $26.8M, a 50.3% margin (up 15.3 points year over year). Of the extra revenue versus a year earlier, 128% reached operating profit, above the 35% margin then. Operating expenses grew 158% against revenue growth of 20%. The fastest-growing cost line was SG&A (+301%). Net earnings were $22.0M, up 88% year over year. The effective tax rate was 23.8%.
Operating cash flow was $11.3M (down 43% year over year), 51% of net earnings. Non-cash charges added back $594K of depreciation and amortization and $476K of share-based compensation. Working capital and other items used $11.8M.
Questions
What was Exzeo Group's revenue in the fourth quarter 2025?
Exzeo Group (XZO) reported revenue of $53.3M for the fourth quarter 2025 (Q4 2025), +20% from a year earlier and -3% from the quarter before.
Was Exzeo Group profitable in the fourth quarter 2025?
Operating profit was $26.8M (50.3% of revenue) and net earnings $22.0M.
Source: Exzeo Group 10-K on SEC EDGAR.