Palomar Holdings 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	714.07	510.69	345.91	316.47	233.83	155.07
Total Interest & Dividend Income	51.33	35.82	23.71	13.88	9.08	8.61
Gain (Loss) on Sale of Investments	8.26	4.57	2.94	-7.53	1.28	1.49
Other Revenue	4.7	2.78	3.37	4.27	3.61	3.3
Total Revenue	778.36	553.86	375.93	327.09	247.79	168.46
Revenue Growth (YoY)	54.59%	47.33%	14.93%	32.00%	47.09%	48.69%
Policy Benefits	194.92	134.76	72.59	78.67	41.46	64.12
Policy Acquisition & Underwriting Costs	337.11	250.09	181	168.37	143.57	95.96
Total Operating Expenses	552.28	401.53	268.51	258.66	190.61	162.24
Operating Income	226.09	152.33	107.42	68.42	57.18	6.22
Interest Expense	-0.39	-1.14	-3.78	-0.87	-0.04	-
Pretax Income	225.7	151.2	103.64	67.55	57.14	6.22
Income Tax Expense	49.83	33.62	24.44	15.38	11.29	-0.03
Net Income	175.87	117.57	79.2	52.17	45.85	6.26
Net Income to Common	175.87	117.57	79.2	52.17	45.85	6.26
Net Income Growth	62.09%	48.45%	51.81%	13.79%	632.73%	-41.09%
Shares Outstanding (Basic)	27	26	25	25	25	25
Shares Outstanding (Diluted)	27	26	25	26	26	26
Shares Change (YoY)	6.75%	3.54%	-1.82%	-1.21%	2.00%	17.24%
EPS (Basic)	6.60	4.61	3.19	2.07	1.80	0.25
EPS (Diluted)	6.40	4.48	3.13	2.02	1.76	0.24
EPS Growth	51.73%	43.13%	54.95%	14.77%	633.34%	-51.02%
Free Cash Flow	364.18	260.91	116.09	169.27	87.8	57.36
Free Cash Flow Per Share	13.26	9.95	4.58	6.56	3.36	2.24
Operating Margin	29.05%	27.50%	28.57%	20.92%	23.08%	3.69%
Profit Margin	22.60%	21.23%	21.07%	15.95%	18.50%	3.71%
Free Cash Flow Margin	46.79%	47.11%	30.88%	51.75%	35.43%	34.05%
EBITDA	230.02	154.04	109.12	69.94	58.62	6.46
EBITDA Margin	29.55%	27.81%	29.03%	21.38%	23.66%	3.83%
D&A For EBITDA	3.94	1.71	1.7	1.52	1.44	0.24
EBIT	226.09	152.33	107.42	68.42	57.18	6.22
EBIT Margin	29.05%	27.50%	28.57%	20.92%	23.08%	3.69%
Effective Tax Rate	22.08%	22.24%	23.58%	22.77%	19.76%	-
Revenue as Reported	778.36	553.86	375.93	327.09	247.79	168.46

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