← Palomar Holdings, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $3.8m |
$18.2m
+381.60%
|
$10.6m
-41.70%
|
$6.3m
-41.09%
|
$45.8m
+632.73%
|
$52.2m
+13.79%
|
$79.2m
+51.81%
|
$117.6m
+48.45%
|
$197.1m
+67.62%
|
$197.1m
0.00%
|
|
| Depreciation and amortization expense | — | $212k | $216k | $1.3m | $3.5m | $4.1m | $4.5m | $5.1m | $8.9m | $8.9m | |
| Amortization of premium on fixed maturity securities | $966k | $481k | $431k | $1.2m | $2.3m | $1.6m | ($9k) | ($945k) | ($61k) | — | |
| Deferred income tax expense (benefit) | $1.1m | — | $646k | $1.1m | $641k | ($3.5m) | ($2.8m) | $2.1m | $1.9m | $1.9m | |
| Stock-based compensation expense | — | — | $24.1m | $2.2m | $5.6m | $11.6m | $14.9m | $16.7m | $21.0m | $21.0m | |
| Purchase of equity method investment | — | — | — | — | $0 | $0 | ($3.0m) | $0 | $0 | — | |
| Accounts payable and other accrued liabilities | $2.2m | $2.7m | $3.3m | $6.0m | ($946k) | $5.4m | $15.7m | $29.2m | ($6.9m) | $74.4m | |
| Accrued investment income | ($137k) | $54k | ($652k) | ($1.2m) | ($180k) | ($1.1m) | ($1.5m) | ($3.2m) | ($3.0m) | — | |
| Ceded unearned premiums | — | ($15.1m) | ($7.8m) | ($8.9m) | ($23.3m) | ($145.8m) | ($61.7m) | ($10.4m) | ($79.7m) | — | |
| Unearned premiums | $19.3m | $17.2m | $51.2m | $53.1m | $101.2m | $186.6m | $125.8m | $144.6m | $240.9m | — | |
| Prepaid expenses and other assets | ($1k) | ($4.6m) | ($9.0m) | ($20.4m) | $591k | ($4.0m) | ($24.9m) | ($15.7m) | $26.2m | — | |
| Net cash provided by operating activities | $20.2m |
$22.8m
+12.64%
|
$41.7m
+82.83%
|
$53.6m
+28.42%
|
$87.8m
+63.98%
|
$169.6m
+93.12%
|
$116.1m
-31.53%
|
$261.2m
+124.93%
|
$409.1m
+56.66%
|
$409.1m
0.00%
|
|
| Purchases of property and equipment | ($68k) | ($332k) | ($115k) | ($132k) | ($18k) | ($313k) | ($15k) | ($243k) | ($137k) | ($8.5m) | |
| Proceeds from sale of property and equipment | — | — | — | — | — | — | — | — | $346k | — | |
| Net realized and unrealized gains on investments | ($608k) | $2.6m | ($4.4m) | ($1.5m) | ($1.3m) | $7.5m | ($2.9m) | ($4.6m) | ($11.8m) | — | |
| Investments in limited partnerships | — | — | — | — | — | $0 | $0 | ($5.5m) | ($11.2m) | — | |
| Acquisitions, net of cash acquired | — | — | — | — | ($11k) | ($15k) | ($5.5m) | $0 | ($58.6m) | ($256.3m) | |
| Net cash used in investing activities | ($19.1m) | ($25.4m) | ($80.6m) | ($181.4m) | ($58.2m) | ($156.8m) | ($128.5m) | ($306.2m) | ($354.0m) | ($634.4m) | |
| Proceeds from common stock issued via employee stock purchase plan | — | — | — | $741k | $719k | $760k | $799k | $902k | $1.2m | — | |
| Proceeds from common stock issued via stock option exercises | — | — | — | $2.0m | $2.1m | $2.3m | $1.2m | $7.0m | $3.8m | — | |
| Repurchase of common stock | — | — | — | — | ($15.9m) | ($34.4m) | ($22.3m) | $0 | ($37.3m) | — | |
| Net cash provided by (used in) financing activities | — | $1.5m |
$62.3m
+3921.37%
|
$128.3m
+106.02%
|
($13.0m)
-110.16%
|
$5.0m
+138.47%
|
($3.9m)
-178.53%
|
$73.8m
+1972.44%
|
($28.8m)
-139.02%
|
$200.5m
+796.61%
|
|
| Net increase (decrease) in cash, cash equivalents and restricted cash | $1.1m | ($1.0m) | $23.4m | $437k | $16.6m | $17.8m | ($16.3m) | $28.7m | $26.4m | — | |
| Cash, cash equivalents and restricted cash at beginning of period | $9.8m | $10.9m | $9.9m | $33.3m | $33.8m | $50.4m | $51.9m | $80.5m | $106.9m | — | |
| Restricted cash | — | — | — | — | — | $56k | $306k | $101k | $17k | — | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Loss on asset disposal | $1k | — | $1k | — | — | — | $0 | $0 | $31k | — | |
| Premium receivable | ($3.8m) | ($3.5m) | ($17.6m) | ($12.8m) | ($39.2m) | ($74.8m) | ($99.1m) | ($43.8m) | ($147.1m) | — | |
| Deferred policy acquisition costs | ($4.5m) | $1.1m | ($11.1m) | ($10.3m) | ($20.5m) | ($787k) | ($4.2m) | ($33.9m) | ($31.2m) | — | |
| Reinsurance recoverables | ($13.1m) | $70k | ($2.7m) | ($87.5m) | ($52.6m) | ($36.3m) | ($83.2m) | ($118.4m) | ($73.5m) | — | |
| Reserve for losses and loss adjustment expenses | $13.0m | ($1.7m) | $760k | $112.2m | $44.3m | $58.0m | $110.9m | $161.1m | $178.1m | — | |
| Ceded premiums payable | $3.5m | $5.5m | $776k | $10.8m | $15.2m | $108.7m | $35.6m | $8.4m | $81.2m | — | |
| Funds held under reinsurance treaty | ($204k) | ($797k) | $938k | $2.9m | $6.4m | ($202k) | $2.7m | $14.4m | $17.0m | — | |
| Income taxes payable | $11k | ($11k) | $1.1m | ($1.1m) | $0 | $0 | $7.3m | ($7.3m) | $0 | — | |
| Net proceeds from (purchases of) derivative contracts | — | — | — | — | — | — | $0 | $0 | ($9.9m) | — | |
| Capitalized software costs | — | — | ($2.8m) | ($3.9m) | ($4.8m) | ($5.6m) | ($6.7m) | ($5.8m) | ($6.1m) | — | |
| Purchases of fixed maturity securities | ($43.5m) | ($102.7m) | ($211.6m) | ($295.0m) | ($166.9m) | ($382.1m) | ($233.8m) | ($601.4m) | ($848.4m) | — | |
| Purchases of equity securities | ($10.7m) | ($33.7m) | ($58.9m) | ($46.9m) | ($49.7m) | ($10.5m) | ($945k) | ($202k) | ($55.5m) | — | |
| Sales and maturities of fixed maturity securities | $28.6m | $81.2m | $124.2m | $124.2m | $120.2m | $242.7m | $120.3m | $301.8m | $614.6m | — | |
| Sales of equity securities | $6.8m | $30.0m | $64.8m | $46.0m | $41.6m | $0 | $295k | $9.0m | $13.0m | — | |
| Change in securities receivable or payable, net | ($250k) | $250k | $1.0m | ($2.5m) | $1.5m | ($950k) | $950k | ($1.5m) | ($1.0m) | — | |
| Purchase of policy renewal rights | — | — | — | ($7.1m) | ($11k) | ($15k) | $0 | ($2.5m) | ($905k) | — | |
| Payments on Line of Credit | — | — | — | — | — | — | $0 | ($52.6m) | ($15.0m) | — | |
| Proceeds from Line of Credit | — | — | — | — | $0 | $36.4m | $16.2m | $0 | $15.0m | — | |
| Policy holder contribution to surplus | — | — | — | — | $0 | $0 | $90k | $2.8m | $3.7m | — | |
| Proceeds from stock offering, net of offering costs | — | — | — | $125.5m | — | $0 | $0 | $115.7m | ($141k) | — | |
| Cash paid for federal income taxes | $9k | $11k | $5.6m | $7.2m | $2.1m | $18.9m | $20.6m | $37.8m | $58.0m | — | |
| Cash paid for state income taxes | $9k | $11k | $5.6m | $7.2m | $2.1m | $18.9m | $484k | $644k | $1.1m | — | |
| Cash paid for interest | $1.6m | $1.7m | $1.2m | — | $0 | $704k | $3.7m | $1.0m | $287k | — | |
| Cash and cash equivalents | — | — | — | — | — | $68.1m | $51.5m | $80.4m | $106.9m | $81.3m |