
• Reported GAAP EPS of $0.27 up 114.14% YoY • Reported revenue of $121.5M up 10.15% YoY • Hippo updated its 2026 FY Gross Written Premium guidance to $1.45-$1.525B and Net Written Premium to $520-$550M. Hippo also updated 2026 FY Adjusted Net Income to $48-$56M, maintaining Combined Ratio at 103%-105%.
Bullish
Hippo achieved positive net income and adjusted net income in Q1 2026, driven by a 58% increase in Gross Written Premium and significantly improved underwriting performance, reducing its combined ratio to 99.5%.
Bearish
Hippo's net written premium growth lagged GWP due to mix shifts and a Renters line contraction. Revenue was impacted by lower commissions from a prior sale, and the company faces operational and regulatory risks.