Exzeo Group, Inc.
For the period ended Aug 6, 2026. Filed Aug 6, 2026.
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Aug 6, 2026 · Filed Aug 6, 2026
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EX-99.1 · Adjusted EBITDA Margin
Adjusted EBITDA Margin
We define Adjusted EBITDA Margin as Adjusted EBITDA expressed as a percentage of Adjusted Revenue. This non-GAAP measure provides management and investors with additional insight into the Company's operating efficiency and the scalability of our business model, as it reflects our progress toward long-term profitability. The most directly comparable GAAP measure is net income margin, which is calculated as net income divided by GAAP revenue.
The calculation of Adjusted EBITDA Margin for the periods presented is as follows:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands, except percentages) | 2026 | 2025 | 2026 | 2025 |
| Numerator: Adjusted EBITDA | $29,948 | $29,551 | $56,479 | $54,769 |
| Denominator: Adjusted Revenue | 56,293 | 52,260 | 110,298 | 102,412 |
| Adjusted EBITDA Margin (1) | 53.2% | 56.5% | 51.2% | 53.5% |
(1)
The inputs used to derive Adjusted EBITDA Margin are defined and reconciled to their most directly comparable GAAP measures in the preceding tables above. Adjusted EBITDA is reconciled to net income, and Adjusted Revenue is reconciled to GAAP revenue, in each case as presented elsewhere in this filing. Net income margin represents the comparable GAAP measure.
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