Hippo reports Q2 EPS ($1.64), consensus ($1.66)

Reports Q2 revenue $90M, consensus $88.39M. “Our plan to reduce the volatility in our homeowners program passed its first meaningful test, as we delivered a substantial year-over-year reduction in catastrophic losses despite another quarter of elevated severe weather,” said Hippo President and CEO Rick McCathron. “We used proprietary technology to drive efficiencies into our operations, which resulted in higher customer lifetime value and lower customer acquisition costs, and we improved access to insurance for customers buying new homes. We are well-positioned for continued growth and on track to achieve our long-stated goal of positive Adjusted EBITDA in Q4.”