Hippo Holdings Inc
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
HIPO$36.29+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In millions)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss | $(263.0) | $(326.5) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 19.8 | 15.2 |
| Stock–based compensation expense | 57.5 | 61.9 |
| Other changes in fair value | (1.5) | (4.0) |
| Change in fair value of contingent consideration liability | 6.0 | 4.1 |
| Impairment charges | 2.9 | 53.5 |
| Other non-cash items | (7.4) | (3.0) |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | (38.0) | (50.9) |
| Reinsurance recoverable on paid and unpaid losses and LAE | 5.0 | (19.4) |
| Ceding commissions receivable | (28.0) | (4.2) |
| Prepaid reinsurance premiums | (25.7) | (78.3) |
| Other assets | 6.2 | 8.9 |
| Provision for commission | 19.7 | (7.3) |
| Accrued expenses and other liabilities | (5.5) | 19.6 |
| Loss and loss adjustment expense reserves | 28.7 | 33.0 |
| Unearned premiums | 77.9 | 88.2 |
| Reinsurance premiums payable | 53.0 | 47.7 |
| Net cash used in operating activities | (92.4) | (161.5) |
| Cash flows from investing activities: | ||
| Capitalized internal use software costs | (17.1) | (14.8) |
| Purchases of property and equipment | (29.6) | (4.9) |
| Purchases of fixed maturities | (55.3) | (88.8) |
| Maturities of fixed maturities | 15.6 | 10.2 |
| Sales of fixed maturities | 3.2 | 6.5 |
| Purchases of short-term investments | (354.3) | (704.2) |
| Maturities of short-term investments | 471.6 | 391.4 |
| Sales of short-term investments | 26.7 | 0.7 |
| Other | (3.2) | (2.0) |
| Net cash provided by (used in) investing activities | 57.6 | (405.9) |
| Cash flows from financing activities: | ||
| Taxes paid related to net share settlement of equity awards | (4.7) | (3.9) |
| Proceeds from issuance of common stock | 2.8 | 4.1 |
| Share repurchases under program | (1.8) | — |
| Payments of contingent consideration | (1.3) | (1.7) |
| Acquisitions of noncontrolling interests | (3.2) | — |
| Distributions to noncontrolling interests and other | (6.4) | (5.3) |
| Net cash used in financing activities | (14.6) | (6.8) |
| Net decrease in cash, cash equivalents, and restricted cash | (49.4) | (574.2) |
| Cash, cash equivalents, and restricted cash at the beginning of the period | 244.5 | 818.7 |
| Cash, cash equivalents, and restricted cash at the end of the period | $195.1 | $244.5 |
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