Neptune Insurance Holdings Inc.
For the period ended Sep 30, 2026. Filed Oct 22, 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 Oct 22, 2026
NP$28.22+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
(In thousands) (Unaudited)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income | $40,401 | $33,070 |
| Adjustments to reconcile net income to cash provided by operating activities: | ||
| Amortization expense | 3,013 | 2,734 |
| Amortization of deferred financing costs | 270 | 483 |
| Share-based compensation | 20,832 | 299 |
| Deferred income taxes | 76 | (176) |
| (Increase) decrease in operating assets: | ||
| Commissions and fees receivable | (875) | (1,064) |
| Income tax receivable | (283) | — |
| Prepaid expenses and other current assets | 480 | (186) |
| Deferred financing asset | — | (37) |
| Increase (decrease) in operating liabilities: | ||
| Accounts payable | 3,618 | 4,081 |
| Commissions payable | 1,726 | 2,482 |
| Income tax payable | — | (3,760) |
| Accrued expenses | 29 | 992 |
| Net cash provided by operating activities | 69,287 | 38,920 |
| Cash flows from investing activities: | ||
| Internally developed software | (3,226) | (2,868) |
| Purchases of intangible assets | — | (63) |
| Net cash used in investing activities | (3,226) | (2,931) |
| Cash flows from financing activities: | ||
| Change in fiduciary receivables | (731) | (389) |
| Change in fiduciary liabilities | 28,731 | 26,279 |
| Repayments of 2024 Term Loan | — | (135,000) |
| Proceeds from 2025 Term Loan | — | 301,000 |
| Repayments of 2025 Term Loan | — | (37,000) |
| Proceeds from revolving credit facility | 24,000 | — |
| Repayments of revolving credit facility | (49,000) | — |
| Repurchase of common stock | (31,873) | — |
| Payment of deferred financing fees and prepayment penalty | — | (477) |
| Proceeds from exercise of stock options | 902 | 15,578 |
| Taxes paid related to net share settlement of equity awards | (698) | — |
| Cash dividend paid | — | (175,000) |
| Net cash used in financing activities | (28,669) | (5,009) |
| Net increase in cash and cash equivalents and fiduciary cash | 37,392 | 30,980 |
| Cash and cash equivalents and fiduciary cash: | ||
| Beginning of period | 40,548 | 28,065 |
| End of period | $77,940 | $59,045 |
| Cash and cash equivalents | $17,429 | $12,184 |
| Fiduciary cash | 60,511 | 46,861 |
| Total cash and cash equivalents and fiduciary cash | $77,940 | $59,045 |
| Non-cash transactions: | ||
| Taxes related to net share settlement of equity awards accrued but not paid | $13,625 | $— |
| Exercise price of stock options paid with shares withheld | 1,461 | — |
| Shareholder reimbursement of IPO transaction costs | $— | $8,474 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.