Accelerant Holdings Earnings Call Transcripts
Fiscal Year 2025
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Q4 and full-year 2025 results exceeded expectations, with strong premium growth, expanding margins, and robust free cash flow. AI-driven underwriting and a growing member base support continued outperformance, while guidance for 2026 points to further growth and a shift toward fee-based revenue.
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Q3 saw robust growth with exchange-rated premium up 17% (29% adjusted), revenue up 74%, and adjusted EBITDA up over 300%. Strategic expansion of third-party insurer relationships and data capabilities support strong guidance for 2026, with two-thirds of premium expected from third parties.
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Q2 2025 saw 42% organic premium growth and 68% revenue growth, with adjusted EBITDA up nearly fivefold year-over-year. Margins expanded, loss ratios improved, and new risk capital partners joined, while Q3 guidance anticipates continued strong growth and a one-time EBITDA boost from a minority stake sale.