Neptune Insurance reports Q3 EPS 6c vs 6c last year

Reports Q3 revenue $44.4M, consensus $42.78M. Trevor Burgess, Chairman and Chief Executive Officer, commented, “The excellent results delivered in Q3 showcase the scalability and efficiency of our model. Expanding distribution, record new business policy sales, strong renewal dynamics, and continued technology leverage helped produce 31% revenue growth, a 26% net income margin, and a 60% Adjusted EBITDA margin. Operating as a managing general agent (MGA) that takes no balance sheet insurance risk, a model we believe is unique to the public markets, allows us to deliver these margins and provide a financial profile that is efficient, asset light, and profitable.”