Slide Reports First Quarter 2026 Results
Rhea-AI Summary
Slide (Nasdaq: SLDE) reported strong Q1 2026 results: gross premiums written $414.8M (+49.1%), total revenue $389.3M (+38.2%), and net income $139.5M (+50.8%), with diluted EPS $1.02 and a combined ratio 55.5%. Policies in force reached 508,928 (+46%).
Slide repurchased 7.72M shares in the quarter, totaling 13.35M shares repurchased since its 2025 IPO for $230.9M. The company reiterated 2026 guidance: GWP $1.85B–$1.95B and net income $455M–$470M.
Positive
- Gross premiums written +49.1% to $414.8M
- Net income +50.8% to $139.5M
- Combined ratio improved to 55.5%
- Policies in force +46% to 508,928
- Repurchased 7.72M shares; 13.35M repurchased since IPO
- Reiterated 2026 guidance: GWP $1.85B–$1.95B; NI $455M–$470M
Negative
- Policy acquisition and underwriting expenses rose to $44.1M
- General and administrative expenses increased to $46.2M
Market Reaction – SLDE
Following this news, SLDE has gained 4.88%, reflecting a moderate positive market reaction. The stock is currently trading at $19.79. This price movement has added approximately $109M to the company's valuation.
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Key Figures
Market Reality Check
Peers on Argus
SLDE was up 2.49% while key peers showed mixed, mostly modest moves (e.g., HMN +0.95%, ROOT -2.0%). This points to a stock-specific reaction rather than a broad sector move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 24 | Q4/FY 2025 earnings | Positive | +9.7% | Strong Q4 and full-year 2025 growth with improved combined ratio and guidance. |
| Nov 05 | Q3 2025 earnings | Neutral | -1.1% | Q3 2025 results release via shareholder letter and earnings call details. |
| Aug 12 | Q2 2025 earnings | Positive | -9.1% | Strong Q2 2025 growth and better loss and combined ratios post-IPO. |
Earnings headlines have produced mixed reactions, with one strong positive move and two negative moves despite generally positive operational commentary.
Over the past year, Slide has reported multiple earnings updates showing growth and improving underwriting metrics. On Aug 12, 2025, Q2 2025 results highlighted strong policy growth and a combined ratio improvement to 67.4%, yet shares fell 9.14%. The Q4 and full-year 2025 release on Feb 24, 2026 showed robust growth and 2026 guidance, with the stock gaining 9.68%. A Q3 2025 earnings communication on Nov 5, 2025 saw a modest -1.07% move, underscoring inconsistent price reactions to earnings.
Historical Comparison
Past earnings headlines for SLDE produced an average -0.18% move, with one sharp gain and two declines, showing that price reactions to results have been inconsistent.
Earnings releases show progression from strong Q2 2025 results through Q4/FY 2025, with growing premiums, improving combined ratios, and established 2026 guidance now reiterated.
Market Pulse Summary
This announcement highlights strong Q1 2026 performance for Slide, with gross premiums written of $414.8M, net income of $139.5M, diluted EPS of $1.02, and a combined ratio of 55.5%. The company reiterated full-year 2026 guidance for premiums and net income and continued sizeable buybacks. Historically, earnings releases have produced mixed stock moves, so investors may focus on catastrophe loss trends, policy growth outside Florida, and how future quarters track against reiterated targets.
Key Terms
combined ratio financial
loss ratio financial
return on equity financial
AI-generated analysis. Not financial advice.
- Gross Premiums Written Grew
- Net Income Increased
- Combined Ratio Improved to
TAMPA, Fla., April 28, 2026 (GLOBE NEWSWIRE) -- Slide Insurance Holdings, Inc. (Nasdaq: SLDE) today reported results for the first quarter ended March 31, 2026.
First Quarter 2026 Highlights
- Gross premiums written grew
49.1% to$414.8 million , compared to$278.2 million in the prior-year period. - Total policies in force at the end of the period was 508,928, a
46% increase compared to prior year. - Total revenue increased
38.2% to$389.3 million , compared to$281.6 million in the prior-year period. - Net income increased
50.8% to$139.5 million , compared to$92.5 million in the prior-year period. Diluted earnings per share for the first quarter of 2026 was$1.02 . - Combined ratio of
55.5% improved 340 basis points compared to58.9% in the prior-year period reflecting lower loss ratio and improved operating leverage. - Average return on equity in the quarter was
12.5% .
“Our first quarter results reflect strong execution across our business and reinforce the capability of our operating model,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “We continued to deliver robust growth while maintaining our commitment to disciplined underwriting and operational excellence. Our continued technology investments position us well to capitalize on additional expansion opportunities through the remainder of the year. As we move through 2026, we remain committed to our long-term diversified growth strategy and continue to be confident in delivering on our full-year targets while generating sustainable value for our shareholders.”
First Quarter 2026 Operating Results
Gross premiums written were
Policies in force as of March 31, 2026 were 508,928, compared to 348,029 as of March 31, 2025, a
Net premiums earned grew
Losses and loss adjustment expenses (LAE) incurred, net were
Policy acquisition and other underwriting expenses were
General and administrative expenses were
The combined ratio improved to
Net income grew
Capital Allocation
During the quarter, the company repurchased 7,724,240 shares of its common stock at a weighted average price of
Since its IPO in June of 2025, the Company has repurchased 13,349,752 shares of its common stock for
The Company’s repurchases to date have reduced the IPO dilution to common shareholders from
Full Year 2026 Outlook
The Company reiterated its expectations to generate gross written premiums in the range of
Top-line growth is expected to be driven primarily by sustained organic expansion, including double-digit increases in policies in force including growth outside of Florida, complemented by selective growth opportunities within Florida that meet our return threshold.
The Company also reiterated its expectations to generate full year net income in the range of
Key Ratios
In this press release we discuss certain key ratios, described below, which provide useful information about our business and the operational factors underlying our financial performance.
Loss ratio, expressed as a percentage, is the ratio of losses and loss adjustment expenses incurred, net to net premiums earned.
Policy acquisition expense ratio is the ratio, expressed as a percentage, of policy acquisition expenses and other underwriting expenses to net premiums earned.
Expense ratio, expressed as a percentage, is the ratio of policy acquisition and other underwriting expenses, general and administrative expenses, and other operating expense to net premiums earned.
Combined ratio is the sum of the loss ratio and the expense ratio. A combined ratio under
Return on equity, expressed as a percentage, is a ratio of net income on an annualized basis as a percentage of average beginning and ending shareholders’ equity during the period.
Webcast and Conference Call
Slide will hold a conference call to discuss financial results tomorrow, April 29, 2026, at 8:30 am Eastern Time. A live webcast of the conference call will be available at ir.slideinsurance.com. The dial-in number for the conference call is (877) 407-9208 (toll-free) or (201) 493-6784 (international). Please dial the number 10 minutes prior to the scheduled start time.
A webcast replay of the call will be available at ir.slideinsurance.com for one year following the call.
Forward-Looking Statements
Statements in this press release and the Company’s earnings call that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “aim,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology and relate, without limitation, to the Company’s beliefs and expectations regarding the Company’s (i). projections of future financial performance, (ii) growth strategies, (iii) business trends, (iv) sustainable, long-term growth, including the drivers of such growth, (v) competitive advantages, (vi) ability to achieve top-line growth and margin expansion and create long-term value for its shareholders, (vii) underwriting profitability, and (viii) capitalization and profitability. These statements are only predictions based on Slide’s current expectations and projections about future events and are not guarantees of actual results, level of activity, performance or achievements. Although Slide believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, there are important factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those anticipated in any forward-looking statements, including, among others, our limited operating history; the success of the Company’s underwriting and profitability initiatives; inflation and other changes in economic conditions (including changes in interest rates and financial and real estate markets), including changes that may impact demand for our products and our operations; lack of effectiveness of exclusions and loss limitation methods in the insurance policies we assume or write; inherent uncertainty of our models and our reliance on such models as a tool to evaluate risk; the impact of macroeconomic conditions, including declining consumer confidence, inflation, high unemployment and the threat of recession; the impact of new federal and state regulations that affect the property and casualty insurance market and our failure to meet increased regulatory requirements, including minimum capital and surplus requirements; the cost of reinsurance, the collectability of reinsurance and our ability to obtain reinsurance coverage on terms and at a cost acceptable to us; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to obtain regulatory approval for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against us, including the terms of any settlements; risks related to the nature of our business; performance of our investment portfolio; the adequacy of our liability for losses and loss adjustment expense; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes, wildfires and hail); acts of war and terrorist activities; court decisions and trends in litigation; and other matters described from time to time by us in our filings with the Securities and Exchange Commission.
Any forward-looking statement made by Slide in this press release and the earnings call speak only as of the date on which it is made. Slide undertakes no obligation to update any forward-looking statement, whether as a result of new information, actual results, revised expectations or otherwise, except as may be required by law.
About Slide
Slide is a technology-enabled insurance company that makes it easy for homeowners to choose the right coverage for their unique needs and budgets. Slide's cutting-edge technology leverages artificial intelligence and big data to optimize and streamline every part of the insurance process. Based in Tampa, Fla., Slide was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes. For more information, please visit https://www.slideinsurance.com.
Contacts
Investors
ir@slideinsurance.com
Media
Rachel Carr
Chief Marketing Officer
press@slideinsurance.com
| Slide Insurance Holdings, Inc. Condensed Consolidated Statements of Operations (Unaudited) (Dollar amounts in thousands) | |||||||
| Three Months Ended March 31, | |||||||
| 2026 | 2025 | ||||||
| Revenues: | |||||||
| Gross premiums written | $ | 414,792 | $ | 278,249 | |||
| Change in unearned premiums | 66,194 | 72,642 | |||||
| Gross premiums earned | 480,986 | 350,891 | |||||
| Ceded premiums earned | (115,103 | ) | (84,850 | ) | |||
| Net premiums earned | 365,883 | 266,041 | |||||
| Net investment income | 20,118 | 13,807 | |||||
| Policy fees | 2,590 | 1,534 | |||||
| Other income | 692 | 211 | |||||
| Total revenue | $ | 389,283 | $ | 281,593 | |||
| Expenses: | |||||||
| Losses and loss adjustment expenses incurred, net | 111,073 | 83,761 | |||||
| Policy acquisition and other underwriting expenses | 44,125 | 28,572 | |||||
| General and administrative expenses | 46,173 | 41,378 | |||||
| Interest expense | 852 | 934 | |||||
| Depreciation expense | 1,315 | 1,146 | |||||
| Amortization expense | 69 | 1,895 | |||||
| Total expenses | $ | 203,607 | $ | 157,686 | |||
| Net income before income tax expense | 185,676 | 123,907 | |||||
| Income tax expense | 46,149 | 31,404 | |||||
| Net income | $ | 139,527 | $ | 92,503 | |||
| Weighted average shares outstanding (in thousands) | |||||||
| Basic | 123,342 | 56,600 | |||||
| Diluted | 136,588 | 123,123 | |||||
| Earnings per share | |||||||
| Basic | $ | 1.13 | $ | 1.63 | |||
| Diluted | $ | 1.02 | $ | 0.75 | |||
| Slide Insurance Holdings, Inc. Condensed Consolidated Balance Sheets (Dollar amounts in thousands, except per share and par value amounts) | |||||||
| March 31, 2026 | December 31, 2025 | ||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Invested assets: | |||||||
| Fixed-maturity securities, available-for-sale, at estimated fair value (amortized costs: and | $ | 716,037 | $ | 589,720 | |||
| Other investments, net | 4,000 | 4,000 | |||||
| Total invested assets | $ | 720,037 | $ | 593,720 | |||
| Cash and cash equivalents | 1,217,558 | 1,201,210 | |||||
| Restricted cash | 793 | 786 | |||||
| Restricted cash - variable interest entity | 482,050 | 480,972 | |||||
| Accrued interest income | 9,084 | 7,281 | |||||
| Assumed premiums receivable | 9,124 | 34,290 | |||||
| Premiums receivable, net of allowance for credit loss of | 69,548 | 90,576 | |||||
| Reinsurance recoverable on paid losses, net of allowance for credit loss: | 14,779 | 16,183 | |||||
| Reinsurance recoverable on unpaid losses, net of allowance for credit loss: | 130,999 | 146,128 | |||||
| Prepaid reinsurance premiums | 82,492 | 202,748 | |||||
| Deferred income tax assets, net | 20,813 | 18,332 | |||||
| Deferred policy acquisition costs | 88,291 | 93,728 | |||||
| Property and equipment, net | 10,948 | 11,585 | |||||
| Right-of-use lease assets, operating | 8,050 | 8,476 | |||||
| Intangibles, net | 30 | 99 | |||||
| Goodwill | 2,603 | 2,603 | |||||
| Prepaid expenses | 11,425 | 8,932 | |||||
| Other assets | 3,736 | 816 | |||||
| Total assets | $ | 2,882,360 | $ | 2,918,465 | |||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
| Liabilities: | |||||||
| Loss and loss adjustment expense reserves | $ | 476,258 | $ | 439,715 | |||
| Unearned premiums | 934,414 | 1,000,611 | |||||
| Commissions payable | 12,406 | 9,049 | |||||
| Deferred revenue | 90 | 90 | |||||
| Reinsurance premiums payable | 68,931 | 160,330 | |||||
| Long-term debt, net | 32,386 | 33,687 | |||||
| Interest rate swap liability | 16 | 62 | |||||
| Income taxes payable | 117,203 | 93,555 | |||||
| Advanced premiums | 66,358 | 30,518 | |||||
| Premium tax liabilities | 12,101 | 5,075 | |||||
| Accounts payable and accrued expenses | 23,163 | 19,768 | |||||
| Lease liabilities, operating | 9,294 | 9,649 | |||||
| Other liabilities | 16,128 | 3,115 | |||||
| Total liabilities | $ | 1,768,748 | $ | 1,805,224 | |||
| Shareholders’ equity: | |||||||
| Common Stock (par value issued and outstanding at March 31, 2026 and December 31, 2025, respectively) | 1,176 | 1,239 | |||||
| Additional paid-in capital | 218,342 | 351,688 | |||||
| Accumulated other comprehensive income, net of taxes | 1,418 | 7,165 | |||||
| Retained earnings | 892,676 | 753,149 | |||||
| Total shareholders’ equity | $ | 1,113,612 | $ | 1,113,241 | |||
| Total liabilities and shareholders’ equity | $ | 2,882,360 | $ | 2,918,465 | |||
| Slide Insurance Holdings, Inc. Supplemental Information | |||||||||||||
| Three Months Ended March 31, (in thousands) | Year Ended December 31, 2025 (in thousands) | ||||||||||||
| Revenue | 2026 | 2025 | 2025 | ||||||||||
| Gross premiums written | $ | 414,792 | $ | 278,249 | $ | 1,795,516 | |||||||
| Policy fees | 2,590 | 1,534 | 8,243 | ||||||||||
| Total revenue | $ | 389,283 | $ | 281,593 | $ | 1,155,901 | |||||||
| Net income | $ | 139,527 | $ | 92,503 | $ | 443,958 | |||||||
| Key Ratios | |||||||||||||
| Loss ratio | 30.4 | % | 31.5 | % | 21.8 | % | |||||||
| Policy acquisition expense ratio | 12.1 | % | 10.7 | % | 12.9 | % | |||||||
| Expense ratio | 25.1 | % | 27.4 | % | 30.3 | % | |||||||
| Combined ratio | 55.5 | % | 58.9 | % | 52.1 | % | |||||||
| Return on equity | 12.5 | % | 19.2 | % | 57.4 | % | |||||||
| March 31, 2026 (in thousands) | December 31, 2025 (in thousands) | ||||||||||||
| Total Assets | $ | 2,882,360 | $ | 2,918,465 | |||||||||
| Shareholders' Equity | 1,113,612 | 1,113,241 | |||||||||||
| Total common shares outstanding | 117,566 | 123,889 | |||||||||||
