Hippo reports Q2 results

Hippo has released its Q2 2025, ending the period with a net income of $1 million – the first positive net income in the company’s history. The drivers of this improvement included top-line growth while diversifying the premium base, improving consolidated net loss ratio, better operating leverage, and lower stock-based compensation expense.

In Q2, the company’s expenses on sales and marketing, technology and development, and general and administrative declined by $6 million compared to the same period last year, representing a 16% decrease.

Gross written premium grew 16% YoY to $299 million, up from $258 million in Q2 of last year. This growth was driven by the company’s hybrid fronting programs, with existing programs contributing $24 million in organic growth (a 13% increase) and new programs adding $23 million. Gross written premiums for the Hippo home insurance program decreased by 9% YoY.

Cash and investments, excluding restricted cash, increased $76 million QoQ to $604 million. The increase was mostly related to the issuance of a $50 million surplus note.