Hippo reports Q2 revenue $117M, consensus $114.92M

Reports Q2 net income $1M vs. (40M) last year. “We stacked another strong quarter, with more than 30% revenue growth, a major improvement in our net loss ratio, and increased operating leverage-all of which helped us achieve positive net income from operating activities for the first time,” said Hippo (HIPO) President and CEO Rick McCathron. “We also announced a strategic partnership that will accelerate our growth and diversification, while strengthening our balance sheet with a $100M capital infusion. In addition, we launched two exciting new commercial and casualty programs on our hybrid fronting platform, unlocking important new sources of diversification and profitability.”