← Palomar Holdings, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $9.5m | $33.1m | $33.5m | $50.3m | $68.1m | $51.5m | $80.4m | $106.9m | |
| Premiums receivable | $18.6m | $36.2m | $48.8m | $88.0m | $162.9m | $262.0m | $305.7m | $452.9m | |
| Prepaid expenses and other assets | $5.9m | $14.9m | $34.1m | $37.1m | $44.1m | $72.9m | $91.1m | $110.9m | |
| Property and equipment, net | $947k | $845k | $739k | $527k | $603k | $373k | $429k | $2.6m | |
| Goodwill and intangible assets, net | — | — | — | — | $8.3m | $12.3m | $13.2m | $61.1m | |
| Fixed maturity securities available for sale, at fair value (amortized cost: $1,227,605 in 2025; $973,330 in 2024) | $122.2m | $217.2m | $398.0m | $432.7m | $515.1m | $643.8m | $939.0m | $1.2b | |
| Equity securities, at fair value (cost: $81,772 in 2025; $32,987 in 2024) | $25.2m | $22.3m | $24.3m | $33.3m | $38.6m | $43.2m | $40.5m | $99.3m | |
| Equity method investment | — | — | — | — | $0 | $2.6m | $2.3m | $0 | |
| Other investments | — | — | — | — | — | $0 | $5.9m | $28.5m | |
| Restricted cash | $399k | $230k | $248k | $87k | $56k | $306k | $101k | $17k | |
| Deferred policy acquisition costs, net of ceding commissions and fronting fees | $14.1m | $25.2m | $35.5m | $56.0m | $56.7m | $61.0m | $94.9m | $127.7m | |
| Reinsurance recoverable on paid losses and loss adjustment expenses | $2.7m | $4.3m | $10.2m | $29.4m | $39.7m | $32.2m | $47.1m | $56.4m | |
| Reinsurance recoverable on unpaid losses and loss adjustment expenses | $11.9m | $13.0m | $94.6m | $127.9m | $153.9m | $244.6m | $348.1m | $412.3m | |
| Ceded unearned premiums | $18.3m | $26.1m | $35.0m | $58.3m | $204.1m | $265.8m | $276.2m | $355.9m | |
| Deferred tax assets, net | — | — | — | — | $10.6m | $10.1m | $8.8m | $761k | |
| Reserve for losses and loss adjustment expenses | $16.1m | $16.8m | $129.0m | $173.4m | $231.4m | $342.3m | $503.4m | $688.2m | |
| Unearned premiums | $79.1m | $130.4m | $183.5m | $284.7m | $471.3m | $597.1m | $741.7m | $988.1m | |
| Ceded premium payable | $10.6m | $11.4m | $22.2m | $37.5m | $146.1m | $181.7m | $190.2m | $271.4m | |
| Funds held under reinsurance treaty | $720k | $1.7m | $4.5m | $10.9m | $10.7m | $13.4m | $27.9m | $44.9m | |
| Income taxes payable | — | — | — | — | $0 | $7.3m | $0 | — | |
| Borrowings from credit agreements | $19.1m | — | — | — | $36.4m | $52.6m | $0 | — | |
| Total investments | $147.4m | $239.5m | $422.3m | $465.9m | $553.6m | $689.6m | $987.7m | $1.4b | |
| Total assets | $231.1m | $395.5m | $729.1m | $925.7m | $1.3b | $1.7b | $2.3b | $3.1b | |
| Total liabilities and stockholders' equity | $231.1m | $395.5m | $729.1m | $925.7m | $1.3b | $1.7b | $2.3b | $3.1b | |
| Accrued investment income | $734k | $1.4m | $2.5m | $2.7m | $3.8m | $5.3m | $8.4m | $11.5m | |
| Accounts payable and other accrued liabilities | $9.2m | $13.6m | $20.7m | $21.3m | $25.8m | $42.4m | $70.1m | $115.7m | |
| Total liabilities | $134.8m | $176.9m | $365.4m | $531.6m | $921.7m | $1.2b | $1.5b | $2.1b | |
| Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | — | — | — | — | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value, 500,000,000 shares authorized, 26,520,417 and 26,529,402 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 2k | 2k | 3k | 3k | 3k | 3k | 3k | 3k | |
| Additional paid-in capital | $68.5m | $180.0m | $310.5m | $318.9m | $333.6m | $350.6m | $493.7m | $523.2m | |
| Accumulated other comprehensive loss | ($563k) | $4.7m | $13.2m | $5.3m | ($36.5m) | ($24.0m) | ($26.8m) | ($2.5m) | |
| Retained earnings | $28.4m | $33.9m | $40.0m | $70.0m | $87.7m | $144.6m | $262.2m | $422.0m | |
| Total stockholders' equity | $96.3m | $218.6m | $363.7m | $394.2m | $384.8m | $471.3m | $729.0m | $942.7m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.