AMERISAFE Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Premiums & Annuity Revenue	275.97	270.64	267.13	271.7	275.99	304.43
Total Interest & Dividend Income	26.82	29.21	31.34	27.22	25.44	29.36
Gain (Loss) on Sale of Investments	6.49	9	7.86	-4.7	14.09	5.36
Other Revenue	0.46	0.26	0.58	0.47	0.5	0.35
Total Revenue	309.75	309.11	306.91	294.69	316.01	339.5
Revenue Growth (YoY)	-1.73%	0.72%	4.15%	-6.75%	-6.92%	-8.33%
Policy Benefits	162.61	159.92	151.22	155.02	164.51	160.68
Policy Acquisition & Underwriting Costs	50.83	48.33	50.75	45.32	45.9	43.78
Selling, General & Administrative	0.3	0.3	0.2	0.2	0.2	0.2
Total Operating Expenses	246.82	240.05	229.53	227.05	236.56	232.59
Operating Income	62.93	69.06	77.38	67.65	79.45	106.92
EBT Excluding Unusual Items	62.93	69.06	77.38	67.65	79.45	106.92
Pretax Income	62.93	69.06	77.38	67.65	79.45	106.92
Income Tax Expense	13.02	13.62	15.27	12.04	13.69	20.32
Net Income	49.92	55.44	62.11	55.6	65.76	86.6
Net Income to Common	49.92	55.44	62.11	55.6	65.76	86.6
Net Income Growth	-18.73%	-10.74%	11.70%	-15.44%	-24.07%	-6.57%
Shares Outstanding (Basic)	19	19	19	19	19	19
Shares Outstanding (Diluted)	19	19	19	19	19	19
Shares Change (YoY)	-0.30%	-0.34%	-0.50%	-0.45%	0.23%	0.18%
EPS (Basic)	2.62	2.91	3.24	2.89	3.40	4.49
EPS (Diluted)	2.60	2.89	3.23	2.88	3.39	4.47
EPS Growth	-19.02%	-10.53%	12.15%	-15.04%	-24.16%	-6.88%
Free Cash Flow	9.29	23.35	29.29	26.11	36.68	62.48
Free Cash Flow Per Share	0.49	1.22	1.52	1.35	1.89	3.23
Dividend Per Share	1.540	1.480	1.360	1.240	1.160	1.080
Dividend Growth	6.21%	8.82%	9.68%	6.90%	7.41%	8.00%
Operating Margin	20.32%	22.34%	25.21%	22.96%	25.14%	31.49%
Profit Margin	16.11%	17.93%	20.24%	18.87%	20.81%	25.51%
Free Cash Flow Margin	3.00%	7.55%	9.54%	8.86%	11.61%	18.40%
EBITDA	63.78	70.15	78.8	68.96	80.47	107.93
EBITDA Margin	20.59%	22.69%	25.68%	23.40%	25.46%	31.79%
D&A For EBITDA	0.85	1.09	1.43	1.31	1.02	1.01
EBIT	62.93	69.06	77.38	67.65	79.45	106.92
EBIT Margin	20.32%	22.34%	25.21%	22.96%	25.14%	31.49%
Effective Tax Rate	20.68%	19.72%	19.73%	17.80%	17.23%	19.00%
Revenue as Reported	309.69	309.04	306.85	294.74	315.93	339.48

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.