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Accelerant vs Hagerty: ARX and HGTY compared
Accelerant is the larger company: $357M of revenue in its latest quarter (Q2 2026) against $354M for Hagerty (Q3 2026). Accelerant is growing faster (+63% against -10% a year earlier). Accelerant is more profitable, with an operating margin of 24.5% against 11.7%.
Where the money goes: ARX and HGTY
Accelerant (ARX) · Q2 2026
Accelerant, Q2 2026: revenue $357M (+63% year over year), operating margin 24.5%, net earnings $78.7M, operating cash flow −$68.6M. The chart follows the revenue to costs, profit and cash.
Hagerty (HGTY) · Q3 2026
Hagerty, Q3 2026: revenue $354M (-10% year over year), operating margin 11.7%, net earnings $10.2M, operating cash flow $94.0M. The chart follows the revenue to costs, profit and cash.
| Accelerant (ARX) | Hagerty (HGTY) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $357M | $354M |
| Revenue growth, Y/Y | +63% | -10% |
| Operating margin | 24.5% | 11.7% |
| Net earnings | $78.7M | $10.2M |
| Net margin | 22.1% | 2.9% |
| Operating cash flow | −$68.6M | $94.0M |
| Free cash flow | — | $86.4M |
| Market value | $4.4B | $6.2B |
| P/E | — | 103.7× |
| Analysts’ mean target | $20.25 | $16.00 |
Where the revenue comes from
Hagerty
- Insurance: $322M (91%)
- Marketplace: $32.6M (9%)
Questions
Which is bigger, Accelerant or Hagerty?
Accelerant is the larger company: $357M of revenue in its latest quarter (Q2 2026) against $354M for Hagerty (Q3 2026).
Is Accelerant or Hagerty growing faster?
Accelerant is growing faster (+63% against -10% a year earlier).
Which is more profitable, Accelerant or Hagerty?
Accelerant is more profitable, with an operating margin of 24.5% against 11.7%.
More: Accelerant earnings · how Accelerant makes money · Hagerty earnings · how Hagerty makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 13, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.