Welcome to our dedicated page for Neptune Insurance Holdings SEC filings (Ticker: NP), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Neptune Insurance Holdings Inc. filings document the public-company record for an emerging growth company whose Class A common stock was sold in an initial public offering. The filings include Form 8-K reports for results of operations and financial condition, exhibits with press releases and earnings presentations, and disclosures covering a board-authorized stock repurchase program.
Proxy materials describe annual meeting matters, stockholder voting procedures, board governance, and public-company governance for Neptune's first full year as a public company. Other filings record amendments to the Delaware certificate of incorporation and bylaws, the Class A common stock structure, registration-statement history, and disclosures related to Neptune Flood's MGA model, carrier partnerships, underwriting technology, and distribution platform.
Neptune Insurance Holdings Inc. is soliciting proxies for its 2026 virtual annual meeting on May 28, 2026, at 11:00 a.m. Eastern Time. Stockholders will vote on electing two Class I directors, Trevor Burgess and Jonathan Carlon, and ratifying PricewaterhouseCoopers LLP as independent auditor for 2026.
The proxy details Neptune’s controlled company status, with Trevor Burgess holding approximately 82.1% of total voting power through Class B shares, outlines board and committee structure, and describes significant IPO‑related equity awards and dual‑class ownership for directors and executive officers.
Neptune Insurance Holdings Inc. CEO and Chairman Trevor R. Burgess reported an open-market purchase of 50,000 shares of Class A common stock at an average price of $18.7069 per share. Following this transaction, he directly holds 2,082,964 Neptune Insurance Class A shares.
Neptune Insurance Holdings presents itself as a fast-growing, highly profitable, data-driven managing general agent focused on U.S. flood insurance. The company uses its proprietary AI platforms Triton (underwriting) and Poseidon (policy management) to underwrite policies on behalf of 40 third‑party insurers and reinsurers, so it carries no balance sheet insurance risk or claims obligations.
For the year ended December 31, 2025, Neptune generated $159.6 million in revenue, $37.4 million in net income, and $95.0 million in Adjusted EBITDA, implying a 23.4% net income margin and 59.5% Adjusted EBITDA margin. Organic revenue grew 33.7% year‑over‑year, with premium in force rising to $370.2 million and lifetime written loss ratio to capacity providers held at 24.7% through June 30, 2025.
Management highlights strong retention and scalability: 2025 policy retention was 86.1%, premium retention 98.0%, and revenue retention 91.8%, supported by a lean team of 62 employees and extensive agency distribution. Since inception, Neptune has paid approximately $605.0 million in dividends, contributing to negative book value per share despite robust operating cash flow of $51.7 million in 2025.
Neptune Insurance Holdings Inc. director Michael Warren Vostrizansky bought Class A common stock in the open market. He acquired 23,000 shares at a weighted average price of $21.4963 per share, leaving him with 23,000 shares held directly after the transaction. The purchase was executed through multiple trades within a price range of $21.35 to $21.67 per share.
Neptune Insurance Holdings reported strong growth for 2025, with revenue rising 33.7% to $159.6 million and net income up 8.2% to $37.4 million, a 23.4% margin. Adjusted EBITDA increased 31.8% to $95.0 million, delivering a 59.5% margin.
Fourth quarter revenue grew 38.9% to $43.8 million, while net income fell to $4.3 million, down 62.6%, reflecting $4.6 million of IPO-related expenses and elevated non-cash share-based compensation. Q4 Adjusted EBITDA rose 34.3% to $25.9 million, and adjusted net income was $15.3 million.
Written premium grew 34% for the year to $367.3 million, premium in force reached $370.2 million, and policies in force rose 27% to 280,000. The company posted a Rule of 40 score of 93, with revenue per employee of $2.7 million and Adjusted EBITDA per employee of $1.6 million, highlighting its AI-driven, asset-light MGA model.
Neptune Insurance Holdings Inc. (NP) reported an insider stock purchase by its CFO and Secretary, who is also a director. On 10/02/2025, the insider bought 119,050 shares of Class A Common Stock at $20 per share through a directed share program tied to the company’s initial public offering. Following this transaction, the insider directly beneficially owned 4,384,715 shares of Neptune’s Class A Common Stock.
Neptune Insurance Holdings Inc. (NP) reported a Form 4 insider transaction by a director. On 10/02/2025, the director purchased 5,000 shares of Class A Common Stock at $20 per share through a directed share program connected to the company’s initial public offering of Class A Common Stock. After this transaction, the director is shown with direct ownership of 653,500 shares.
The filing also reports substantial indirect holdings. One trust holds 4,599,000 shares of Class A Common Stock, with the director and Steve Wynne serving as trustees. Another trust dated May 7, 2024 holds 511,000 shares, with the director and Alexis Carlon as trustees. The filing is submitted by one reporting person in the capacity of director.
Neptune Insurance Holdings Inc. (NP) reported an insider share purchase by its CEO and Chairman of the Board, James Steiner. On 10/02/2025, he bought 50,000 shares of Class A common stock at $20 per share in a directed share program connected to the company’s initial public offering. Following this transaction, he beneficially owns 2,032,964 shares of Neptune Insurance Class A common stock held directly.
Neptune Insurance Holdings Inc. shareholder Jonathan Carlon filed a Schedule 13G reporting his beneficial ownership of the company’s Class A common stock. He reports beneficial ownership of 5,685,000 shares, representing 5.91% of the Class A shares. This total includes 575,000 shares held directly, 4,599,000 shares held through the JWC Irrevocable Trust, and 511,000 shares held through the Carlon Family Trust dated May 7, 2024. Carlon shares voting and dispositive power over the JWC Irrevocable Trust with Steve Wynne and over the Carlon Family Trust with Alexis Carlon. The percentage ownership is based on 96,185,000 Class A shares outstanding as of September 30, 2025, as disclosed by the company.
Neptune Insurance Holdings Inc. (NP) disclosed that Trevor R. Burgess beneficially owns 49,595,000 shares of Class A Common Stock, representing 34.02% of the class. This total includes 25,039,000 shares issuable upon conversion of Class B shares held by the Burgess Family SLAT, 17,885,000 shares issuable upon conversion of Class B shares held by the Trevor R. Burgess Irrevocable Trust of 2020, 511,000 shares issuable upon conversion of Class B shares held by the Trevor R. Burgess Revocable Trust, and 6,160,000 shares issuable upon exercise of fully vested stock options. The percentage is based on 139,620,000 shares of common stock outstanding as of September 30, 2025 plus the exercisable options. Neptune has a dual‑class structure in which each Class A share has one vote and each Class B share has ten votes, and all classes vote together as a single class except as otherwise required.