Exzeo Group, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
XZO$16.29-5.5%Stored close · as of Nov 6, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-08-07.
0001193125-26-340267
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-05.
0001193125-26-449861
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 21 previous paragraphs and 28 current paragraphs.
16 unchanged; 4 reworded; 8 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
The current filing states there were no material changes to risk factors.
This is the filer’s own statement, not a conclusion from the comparison. Read its qualifications and the report it references.
Current filing’s statement
There have been no material changes in the risk factors previously disclosed in the section entitled "Risk Factors" in our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 26, 2026, except for the additional risk factors set forth below.
Added paragraphs (8)
Current report
Our investment in the development of artificial intelligence (AI)-native products, services and businesses is inherently risky, and could divert management attention and harm our business, financial condition, and operating results.
Current report
We have invested in the development of AI-native products, services and businesses and the integration of AI capabilities into existing products and services. The investments that we are making reinforce our commitment to innovation and to developing products and services that meet the evolving needs of our customers. Our investments ultimately may not be commercially viable or may not result in an adequate return of capital and, in pursuing new strategies, we may incur unanticipated liabilities. In addition, competitors and other third parties may incorporate AI into products and offerings more quickly or more successfully than we do, which could impair our ability to compete effectively and adversely affect our results of operations.
Current report
Innovations in our products and services could also result in changes to user and customer behavior and affect our revenue trends. These endeavors involve significant risks and uncertainties, including diversion of resources and management attention from current operations.
Current report
In addition to the AI investments and development activities that are occurring throughout our existing core operating business, we recently formed Exzeo Ventures as a new division of our company to focus on the development and use of agentic AI technologies for catastrophe claims, underwriting and risk transfer solutions, and distribution automation.
Current report
We use artificial intelligence in our business, and challenges with properly managing its use could result in legal liability or reputational harm.
Current report
We are using, and expect to continue to expand our use of, AI and machine learning in our product development processes, services and operations. The use of AI technologies carries inherent risks, and there can be no assurance that our use of AI will enhance our products or services or achieve any improvements in innovation or efficiency. If the content, analyses or recommendations that AI applications assist in producing are or are alleged to be inaccurate, deficient or biased, our business, financial condition and results of operations may be adversely affected. Furthermore, our services that integrate third-party AI models may rely on certain safeguards implemented by the third-party providers of the underlying AI models, including those related to the accuracy, bias and other variables of the data, and these safeguards may be insufficient. Legislation and regulations governing the development or use of AI and automated-decision making have been implemented or are under consideration in the U.S. at the state and local level, as well as internationally. Such legislation and regulations may impose obligations related to our development, offering and use of AI, particularly those use cases that are deemed by the law to be "high risk," and expose us to increased risk of regulatory enforcement and litigation. As a result, our ability to use AI and machine learning may be constrained by current or future laws, regulatory or self-regulatory requirements.
Current report
On May 26, 2026, the Board of Directors authorized a share repurchase program of up to $12.0 million. The program was completed on July 8, 2026.
Current report
On August 14, 2026, the Board of Directors authorized a share repurchase program of up to $25.0 million.
Removed paragraphs (1)
Previous report
All shares were repurchased pursuant to the Share Repurchase Program, which was announced on May 26, 2026, under which the Board of Directors authorized the repurchase of up to $12.0 million of the Company's common stock. The Share Repurchase Program does not have a stated expiration date.
Reworded paragraphs (4)
Previous wording
There have been no material changes in the risk factors previously disclosed in the section entitled "Risk Factors" in our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 26, 2026.
Current wording
There have been no material changes in the risk factors previously disclosed in the section entitled "Risk Factors" in our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 26, 2026, except for the additional risk factors set forth below.
Previous wording
Our registration statement on Form S-1, as amended (File No. 333-290500), for our IPO offering became effective under Section 8(a) of the Securities Act of 1933, as amended, on November 4, 2025. On November 6, 2025, we completed the IPO offering of 8.0 million shares of our common stock at a public offering price of $21.00 for an aggregate offering price of $168 million. There has been no material change in the planned use of proceeds from our IPO offering as described in the prospectus filed on November 5, 2025, under Rule 424(b)(4) of the Securities Act of 1933, as amended.
Current wording
Our registration statement on Form S-1, as amended (File No. 333-290500), for our IPO offering became effective under Section 8(a) of the Securities Act of 1933, as amended, on November 4, 2025. On November 6, 2025, we completed the IPO offering of 8.0 million shares of our common stock at a public offering price of $21.00 for an aggregate offering price of $168.0 million. There has been no material change in the planned use of proceeds from our IPO offering as described in the prospectus filed on November 5, 2025, under Rule 424(b)(4) of the Securities Act of 1933, as amended.
Previous wording
The following table summarizes the Company's share repurchase activity for the three months ended June 30, 2026 and the approximate dollar value of shares that may yet be purchased under the program.
Current wording
The following table summarizes the Company's share repurchase activity for the three months ended September 30, 2026 and the approximate dollar value of shares that may yet be purchased under the applicable programs:
Previous wording
Average price paid for share excludes broker commissions and excise tax.
Current wording
Average price paid per share excludes broker commissions and excise tax.