Neptune Insurance Raises 2026 Revenue Outlook to $204 Million

Neptune Insurance Holdings Inc. raised its 2026 revenue outlook to $204 million after third-quarter revenue rose 34.3%, and it issued its first revenue and profitability targets for 2027.

Revenue reached $59.567 million in the quarter ended Sept. 30, up from $44.365 million a year earlier. The company released the results Oct. 20.

Net income increased 49.9% to $17.256 million from $11.511 million in the year-earlier quarter. Diluted earnings were $0.12 per share under generally accepted accounting principles. Adjusted diluted earnings, a non-GAAP measure, were $0.17 per share.

Adjusted net income rose 51.8% to $24.276 million. Adjusted EBITDA increased 37.5% to $36.760 million, producing a 61.7% margin. Both adjusted net income and adjusted EBITDA are non-GAAP measures.

Neptune paired its updated 2026 revenue outlook with a target for an adjusted EBITDA margin above 61%. Its initial 2027 outlook calls for $238 million in revenue and a 61% adjusted EBITDA margin. The 2027 revenue target is $34 million higher than the updated target for 2026.

Neptune is the parent of Neptune Flood Incorporated, a flood insurance managing general agent. Neptune Flood offers residential and commercial insurance through a nationwide agency network.