← Palomar Holdings, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenues | $59.5m | $73.0m | $113.3m | $168.5m | $247.8m | $327.1m | $375.9m | $553.9m | $876.0m | |
| Gross written premiums | $120.2m | $154.9m | $252.0m | $354.4m | $535.2m | $881.9m | $1.1b | $1.5b | $2.0b | |
| Ceded written premiums | ($47.0m) | ($82.9m) | ($108.3m) | ($155.1m) | ($223.4m) | ($524.6m) | ($731.5m) | ($897.1m) | ($1.1b) | |
| Net written premiums | $73.3m | $71.9m | $143.6m | $199.3m | $311.7m | $357.3m | $410.0m | $644.9m | $964.0m | |
| Change in unearned premiums | ($17.7m) | ($2.0m) | ($43.4m) | ($44.2m) | ($77.9m) | ($40.8m) | ($64.1m) | ($134.2m) | ($161.4m) | |
| Net earned premiums | $55.5m | $69.9m | $100.2m | $155.1m | $233.8m | $316.5m | $345.9m | $510.7m | $802.6m | |
| Net investment income | $2.1m | $3.2m | $6.0m | $8.6m | $9.1m | $13.9m | $23.7m | $35.8m | $56.0m | |
| Net realized and unrealized gains on investments | $608k | ($2.6m) | $4.4m | $1.5m | $1.3m | ($7.5m) | $2.9m | $4.6m | $11.8m | |
| Commission and other income | $1.2m | $2.4m | $2.7m | $3.3m | $3.6m | $4.3m | $3.4m | $2.8m | $5.5m | |
| Net unrealized gains (losses) on securities available for sale | $1.5m | ($341k) | $5.2m | $8.6m | ($7.9m) | ($41.8m) | $12.5m | ($2.9m) | $24.3m | |
| Basic (in shares) | $17.0m | $17.0m | $21.5m | $24.9m | $25.5m | $25.2m | $24.8m | $25.5m | $26.6m | |
| Diluted (in shares) | $17.0m | $17.0m | $21.8m | $25.6m | $26.1m | $25.8m | $25.3m | $26.2m | $27.5m | |
| Total comprehensive income | $5.3m | $17.9m | $15.9m | $14.8m | $37.9m | $10.3m | $91.7m | $114.7m | $221.4m | |
| Income before income taxes | $4.9m | $18.2m | $18.1m | $6.2m | $57.1m | $67.6m | $103.6m | $151.2m | $253.4m | |
| Net income | $3.8m | $18.2m | $10.6m | $6.3m | $45.8m | $52.2m | $79.2m | $117.6m | $197.1m | |
| Basic earnings per share (in dollars per share) | $0.22 | $1.07 | $0.49 | $0.25 | $1.80 | $2.07 | $3.19 | $4.61 | $7.40 | |
| Diluted earnings per share (in dollars per share) | $0.22 | $1.07 | $0.49 | $0.24 | $1.76 | $2.02 | $3.13 | $4.48 | $7.17 | |
| Losses and loss adjustment expenses | $12.1m | $6.3m | $5.6m | $64.1m | $41.5m | $78.7m | $72.6m | $134.8m | $228.6m | |
| Acquisition expenses, net of ceding commissions and fronting fees | $25.5m | $28.2m | $37.3m | $64.0m | $95.4m | $110.8m | $107.7m | $149.7m | $217.1m | |
| Other underwriting expenses | $15.1m | $18.0m | $51.3m | $34.1m | $53.7m | $69.2m | $88.2m | $117.1m | $176.5m | |
| Interest expense | $1.7m | $2.3m | $1.1m | — | $40k | $873k | $3.8m | $1.1m | $392k | |
| Income tax expense | $1.1m | ($6k) | $7.5m | ($34k) | $11.3m | $15.4m | $24.4m | $33.6m | $56.3m | |
| Total expenses | $54.5m | $54.8m | $95.2m | $162.2m | $190.7m | $259.5m | $272.3m | $402.7m | $622.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.