Hippo Holdings Inc.
For the period ended Dec 31, 2025. Filed Mar 5, 2026.
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FY2025 · Filed Mar 5, 2026
HIPO$36.29+0.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (in millions) | |||
| Cash flows from operating activities: | |||
| Net income (loss) | $62.6 | $(28.6) | $(263.0) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 20.4 | 23.2 | 19.8 |
| Stock–based compensation expense | 29.3 | 38.2 | 57.5 |
| Fair value adjustments | (0.6) | 1.7 | 4.5 |
| Impairment and restructuring charges | 5.0 | 3.3 | 2.9 |
| Gain on sale of business | (95.0) | (54.4) | — |
| Other non-cash items | (8.3) | (6.2) | (7.4) |
| Changes in assets and liabilities | |||
| Accounts receivable, net | (85.4) | (21.9) | (38.0) |
| Reinsurance recoverables | (61.3) | (4.0) | 5.0 |
| Ceding commissions receivable | (19.2) | (5.7) | (28.0) |
| Prepaid reinsurance premiums | (79.5) | 61.4 | (25.7) |
| Other assets | (16.2) | (6.4) | 6.2 |
| Provision for commission | 2.0 | 9.7 | 19.7 |
| Accrued expenses and other liabilities | 7.4 | (17.5) | (5.5) |
| Losses and loss adjustment expense reserves | 70.4 | 27.5 | 28.7 |
| Unearned premiums | 121.8 | 38.7 | 77.9 |
| Reinsurance premiums payable | 55.8 | (11.5) | 53.0 |
| Net cash provided by (used in) operating activities | $9.2 | $47.5 | $(92.4) |
| Cash flows from investing activities: | |||
| Capitalized internal use software costs | (13.2) | (11.7) | (17.1) |
| Purchases of property and equipment | (0.1) | (0.3) | (29.6) |
| Purchases of fixed maturities | (138.4) | (97.7) | (55.3) |
| Maturities of fixed maturities | 51.6 | 49.1 | 15.6 |
| Sales of fixed maturities | 2.9 | 1.4 | 3.2 |
| Purchases of short-term investments | (287.6) | (270.1) | (354.3) |
| Maturities of short-term investments | 299.4 | 286.2 | 471.6 |
| Sales of short-term investments | 8.4 | 0.2 | 26.7 |
| Proceeds from sale of business, net | 65.8 | 67.2 | — |
| Other | — | 6.0 | (3.2) |
| Net cash (used in) provided by investing activities | $(11.2) | $30.3 | $57.6 |
| Cash flows from financing activities: | |||
| Proceeds from surplus note, net | 47.9 | — | — |
| Taxes paid related to net share settlement of equity awards | (9.4) | (9.9) | (4.7) |
| Proceeds from issuance of common stock | 3.8 | 6.7 | 2.8 |
| Share repurchases under program | (14.5) | (15.6) | (1.8) |
| Payments of contingent consideration | (0.4) | (0.9) | (1.3) |
| Acquisitions of noncontrolling interests | — | (0.2) | (3.2) |
| Distributions to noncontrolling interests and other | (8.1) | (20.2) | (6.4) |
| Net cash provided by (used in) financing activities | $19.3 | $(40.1) | $(14.6) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 17.3 | 37.7 | (49.4) |
| Cash, cash equivalents, and restricted cash at the beginning of the period | 232.8 | 195.1 | 244.5 |
| Cash, cash equivalents, and restricted cash at the end of the period | $250.1 | $232.8 | $195.1 |
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