Hippo Hldgs Inc Stock Price, News & Analysis

Hippo (NYSE: HIPO) reported strong Q4 2024 financial results, achieving $8.5 million in positive adjusted EBITDA and $102 million in Q4 revenue, up 58% year-over-year. Full-year 2024 revenue increased 77% to $372 million.

The company posted Q4 net income of $44 million, compared to a $42 million loss in Q4 2023, aided by a $46 million gain from First Connect's sale. The Hippo Home Insurance Program (HHIP) showed significant improvement with Q4 gross loss ratio dropping to 50%, while fixed expenses decreased by $8 million despite revenue growth.

However, Hippo faces an estimated $42 million in catastrophe losses from January Los Angeles wildfires, with $30 million attributed to HHIP and $12 million to non-Hippo programs. The company maintains strong financial position with $571 million in cash and investments, and Spinnaker surplus of $204 million.

Hippo (NYSE: HIPO), a home insurance group specializing in proactive home protection, has scheduled its fourth quarter financial results announcement for March 6, 2025. The results will be released before the market opens, followed by a conference call and live webcast at 8:00 AM ET/5:00 AM PT.

A shareholder letter containing financial results will be available in the investor relations section of Hippo's website before the conference call. Investors and analysts can access the conference via phone (+1 833 470 1428) or webcast. A replay will be available afterward on the company's investor relations website.

Hippo (NYSE: HIPO) released its third annual Housepower Report, revealing significant trends in homeownership for 2025. The survey of 2,000+ U.S. homeowners showed that 46% spent over $5,000 on unexpected repairs in 2024, up from 36% in 2023. The report highlighted that 83% of homeowners faced unexpected repairs, nearly double from 2023's 46%.

Key findings include: 47% of homeowners are creating emergency plans for 2025, 42% plan to review their insurance coverage, and 55% intend to do more DIY maintenance. Notably, 73% of homeowners reported purchase regrets in 2024, up from 63% in 2023. Weather-related concerns increased, with 42% reporting flood risks and 35% citing wildfire risks. The study also revealed that 59% of homeowners are considering moving in 2025 to better align with their financial goals.

Hippo (NYSE: HIPO) has appointed Andrea Collins as Chief Marketing Officer. Collins, who previously served as Hippo's Vice President of Marketing from 2017 to 2022, returns with over 20 years of marketing experience. Prior to rejoining Hippo, she held CMO positions at Cowbell and Flyhomes, where she achieved significant improvements in top-line growth and customer acquisition costs.

During her initial tenure at Hippo, Collins was instrumental in developing the company's marketing strategy, building the brand, and helping take the company public. In her new role, she will focus on elevating Hippo's market presence and expanding the New Homes Program, which provides homebuilders with embedded insurance solutions.

Centana Growth Partners has acquired a majority stake in First Connect Insurance Services, formerly a subsidiary of Hippo Holdings (NYSE: HIPO), with an initial investment exceeding $b>$60 million. The investment, supported by Pruven Capital, Cota Capital, and Cross Creek, aims to accelerate First Connect's product growth and market expansion. Aviad Pinkovezky will continue as President and has been named CEO.

First Connect operates a tech-driven platform connecting independent insurance agents with carriers, streamlining the process of carrier appointment and policy quoting. The platform features a Carrier Store with over 100 carriers and MGAs, an Appetite Finder tool, and AI-driven validation for E&O documents, reducing compliance approval times from weeks to minutes.

Hippo (NYSE: HIPO) reported strong Q3 2024 financial results with revenue up 65% YoY to $95 million. The company's consolidated Total Gross Premium (TGP) increased 21% YoY, with Services and Insurance-as-a-Service representing 81% of TGP. Q3 net loss decreased 84% YoY to $8.5 million, while adjusted EBITDA loss improved 81% YoY to $7.5 million. The company maintained strong financial position with $545 million in cash and investments. Hippo also announced the sale of a majority stake in First Connect Insurance Services to Centana Growth Partners while maintaining a minority position.

Hippo (NYSE: HIPO), a home insurance group focused on proactive home protection, has announced that it will release its third quarter financial results before market open on Friday, November 8, 2024. The company will host a conference call and live webcast for analysts and investors at 8am ET/5am PT on the same day.

A shareholder letter containing the financial results will be available in the investor relations section of Hippo's website prior to the conference call. Interested parties can access the conference call by dialing +1 833 470 1428 or using global dial-in numbers. The webcast can be accessed at https://events.q4inc.com/attendee/177479862. A replay of the webcast will be made available after the call in the investor relations section of the company's website at https://investors.hippo.com/

Hippo (NYSE: HIPO), a home insurance group, has appointed William Malone as Vice President, Head of Agency. Malone, a 25-year industry veteran, will lead Hippo's sales, account management, and customer support functions. He brings extensive experience in agent sales and support teams across various insurance settings and product lines.

Simultaneously, Hippo announced the departure of Yuval Harry, a long-time executive who played a important role in the company's growth and transition to a publicly traded entity. Harry, who joined Hippo in 2018, most recently led the Hippo Agency, overseeing sales, account management, and customer support teams.

Hippo's President and CEO, Rick McCathron, expressed enthusiasm for Malone's appointment and gratitude for Harry's contributions to the company's development.

Hippo (NYSE: HIPO) announced the expansion of its New Homes Program in California, Florida, and Texas, aiming to provide insurance access for nearly 50,000 additional new homes by year-end. The program offers lower premiums for new homes, with potential savings of up to 69% in California, 42% in Florida, and 56% in Texas compared to existing home policies. Perry Homes and Van Daele Homes have joined the program, which simplifies the underwriting process and offers lower deductibles. Hippo's solution streamlines the closing process for sales teams, lenders, and homebuyers by automating evidence of insurance. The company plans to expand partnerships and access to new home insurance solutions in other states.