Exzeo Group Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2020
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '20 Dec 31, 2020
Net Income	82.75	45.32	21.46	-59.32	-12.42
Depreciation & Amortization	2.93	2.36	2.2	1.69	1.1
Gain (Loss) on Sale of Investments	-	-	-	-	0.07
Stock-Based Compensation	2.64	3.38	2.93	3.51	1.77
Change in Accounts Receivable	-2.91	-	-	-	-2.36
Reinsurance Recoverable	-	-	-	-	0.03
Change in Accounts Payable	0.43	0.44	0.61	-0.65	-
Change in Unearned Revenue	18.88	15.5	4.65	22.63	28.57
Change in Income Taxes	5.55	4.22	-2.49	-1.89	0.89
Change in Insurance Reserves / Liabilities	-	-	-	-	14.58
Change in Other Net Operating Assets	-5.06	-4.36	-4.96	-2.19	1.32
Other Operating Activities	-4.92	-17.6	-14.24	22.22	-0.08
Operating Cash Flow	100.3	191.91	59.37	-16.76	30.38
Operating Cash Flow Growth	-47.74%	223.25%	-	-	-8.19%
Capital Expenditures	-2.84	-3.33	-3.25	-3.45	-1.49
Investment in Securities	-	-	-	-	-1.02
Other Investing Activities	-	-189.19	-13.35	-238.37	-
Investing Cash Flow	-2.84	-192.52	-16.6	-241.82	-2.51
Short-Term Debt Issued	-	-	-	-	22
Long-Term Debt Issued	-	100	-	17.99	-
Total Debt Issued	-	100	-	17.99	22
Total Debt Repaid	-	-2.99	-0.01	-0.01	-0.01
Net Debt Issued (Repaid)	-	97.01	-0.01	17.98	21.99
Issuance of Common Stock	156.21	-	-	-	0.01
Repurchases of Common Stock	-1.49	-0.48	-0.35	-0.41	-
Repurchases of Preferred Stock	-	-100	-	-	-
Preferred Dividends Paid	-	-2.92	-6.76	-5.51	-
Total Dividends Paid	-	-2.92	-6.76	-5.51	-
Other Financing Activities	-1.07	-	-	17.99	-0.01
Financing Cash Flow	153.65	-6.4	-7.12	30.06	21.99
Foreign Exchange Rate Adjustments	-0.23	-0.09	-0.04	-0.1	0
Net Cash Flow	250.87	-7.09	35.61	-228.62	49.86
Free Cash Flow	97.45	188.58	56.12	-20.22	28.9
Free Cash Flow Growth	-48.32%	236.01%	-	-	-5.69%
Free Cash Flow Margin	44.04%	140.21%	63.50%	-44.28%	55.86%
Free Cash Flow Per Share	1.17	2.43	0.74	-0.27	0.39
Cash Interest Paid	-	3.47	1.68	0.8	0
Cash Income Tax Paid	34.22	14.26	0.87	0.78	0.15
Levered Free Cash Flow	89.03	-11.18	-	-	10.37
Unlevered Free Cash Flow	89.03	-9.09	-	-	10.37
Change in Working Capital	16.9	15.8	-2.2	17.9	39.95

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q