Reports Q4 revenue $326.7M, consensus $287.79M. Gross premiums written increased 18% to $331M. The company said, “We achieved the milestone of annual profitability in 2024 by both growing our business and delivering an impressive loss ratio. For the year, gross premiums written increased 66% and gross earned premiums nearly doubled while the gross loss ratio and LAE ratio improved seven points to 67.5%. This growth was not the product of having the largest teams or the biggest marketing budget-it was a product of superior technology and data science…We are extremely proud of our progress in 2024, achieving GAAP net income profitability while also adequately capitalized for future growth. Our differentiation, particularly among public companies, is a relentless focus on the long term.”
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