Hippo Holdings Inc.
- Open
- 34.16
- Day high
- 34.84
- Day low
- 34.10
- Prev close
- 33.90
- Volume
- 46K
- Mkt cap
- $903M
- P/E (TTM)
- 7.1
- EPS (TTM)
- $4.80
- P/B
- 1.9
- P/S
- 1.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$518K over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions accumulating (13F)
Hippo Holdings Inc. (HIPO) is a Financial Services company listed on NYSE. The stock is up 5% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4). Drillr has 1 published research article covering HIPO.
Hippo Holdings Inc. (HIPO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HIPO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $-0.17 | $0.79 | +564.7% | $145M | +5.3% |
| Apr 30, 2026 | $0.07 | $0.27 | +285.7% | $122M | -5.5% |
| Feb 25, 2026 | $0.49 | $0.23 | -53.3% | $120M | -3.6% |
| Nov 5, 2025 | $0.04 | $0.70 | +1650.0% | $121M | -0.4% |
| Aug 6, 2025 | $-0.65 | $0.65 | +200.0% | $117M | +1.1% |
| May 7, 2025 | $-1.41 | $-1.91 | -35.5% | $110M | -3.8% |
| Mar 5, 2025 | $-0.15 | $-0.07 | +53.3% | $102M | -4.5% |
| Nov 8, 2024 | $-1.00 | $-0.34 | +66.0% | $96M | -2.4% |
| May 2, 2024 | $-1.41 | $-1.47 | -4.3% | $85M | -3.7% |
| Mar 6, 2024 | $-2.04 | $-1.76 | +13.7% | $65M | -11.7% |
| Nov 2, 2023 | $-2.66 | $-2.24 | +15.8% | $58M | +2.9% |
| Mar 2, 2023 | $-2.74 | $-2.74 | +0.0% | $36M | +10.7% |
HIPO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 19, 2026 | Ellis Stewartdirector | Grant | 5,350 | $33.04 |
| Aug 18, 2026 | Zeltser Guyofficer: Chief Financial Officer | Tax | 3,945 | $32.83 |
| Aug 18, 2026 | Ostergaard Torbenofficer: CEO Spinnaker | Sell | 1,169 | $33.00 |
| Aug 18, 2026 | Boettcher Lauraofficer: Chief Operating Officer | Tax | 1,586 | $32.83 |
| Aug 18, 2026 | Stienstra Michaelofficer: GM & Chief Insurance, HHIP | Tax | 1,259 | $32.83 |
| Aug 18, 2026 | Ostergaard Torbenofficer: CEO Spinnaker | Tax | 1,340 | $32.83 |
| Aug 18, 2026 | McCathron Richarddirector, officer: Chief Executive Officer | Tax | 8,301 | $32.83 |
| Aug 12, 2026 | McCathron Richarddirector, officer: Chief Executive Officer | Sell | 5,000 | $32.00 |
| Jul 30, 2026 | Zeltser Guyofficer: Chief Financial Officer | Sell | 1,669 | $30.98 |
| Jul 13, 2026 | McCathron Richarddirector, officer: Chief Executive Officer | Sell | 5,000 | $28.53 |
| Jun 12, 2026 | Boettcher Lauraofficer: Chief Operating Officer | Grant | 11,674 | — |
| Jun 11, 2026 | McCathron Richarddirector, officer: Chief Executive Officer | Sell | 5,000 | $25.00 |
| Jun 5, 2026 | Ellis Stewartdirector | Grant | 4,820 | — |
| Jun 4, 2026 | NICHOLS JOHN DRAKEdirector | Grant | 4,738 | $25.40 |
| Jun 4, 2026 | Holliday Susan Clairedirector | Grant | 4,808 | — |
Source: HIPO SEC Form 4 filings, latest Aug 19, 2026. For informational purposes only — not investment advice.
See the full HIPO insider & 13F page →HIPO research & analysis
Hippo Holdings Inc. company profile
Overview
Hippo Holdings Inc. (NYSE:HIPO) is a technology-driven home insurance company founded in 2015 and headquartered in Palo Alto, California. The company went public through a SPAC merger in January 2021. Hippo operates as an integrated home protection platform that combines traditional homeowners insurance with technology-enabled services and smart home devices. The company has evolved from a direct-to-consumer insurance provider into a diversified platform offering insurance-as-a-service solutions to partners while maintaining its own insurance programs across 40+ states.
Business
Hippo operates in the property and casualty insurance industry, specifically focusing on homeowners insurance and related services. The company's business is structured around three main segments that generate revenue through different approaches to home protection. The Insurance-as-a-Service segment represents the largest and fastest-growing part of the business, accounting for approximately 91% year-over-year growth in Q1 2025. This segment operates the Spinnaker platform, which provides technology infrastructure and underwriting capabilities to other insurance carriers, homebuilders, and distribution partners. Rather than bearing insurance risk directly, Hippo earns fees for providing technology services, claims processing, and operational support to these partners. The Hippo Home Insurance Program (HHIP) is the company's traditional insurance segment where Hippo acts as the actual insurance carrier, underwriting policies and bearing the associated risks. This segment has been deliberately scaled back as the company focuses on reducing catastrophic loss exposure, particularly from weather-related events. Revenue from this segment grew 12% year-over-year in Q1 2025, though it represents a smaller portion of total business compared to the service-based segments. The Services segment encompasses various technology-enabled home services, including the Hippo Home Care app, smart home device integration, and maintenance services. This segment connects homeowners with service providers and generates revenue through service fees and partnerships. The company's core product offering centers around making homeowners insurance more accessible and technology-driven. Traditional homeowners insurance protects against risks like fire, theft, wind damage, and other perils, but Hippo differentiates itself by integrating smart home technology, proactive maintenance services, and data analytics to potentially prevent losses before they occur. The platform uses IoT devices, weather monitoring, and predictive analytics to help homeowners maintain their properties and reduce insurance claims.
Competitive moat
Hippo's competitive moat is moderate and still developing, primarily built around its technology platform and data analytics capabilities rather than traditional insurance industry advantages like scale or regulatory barriers. The company's strongest moat element is its integrated technology platform that combines insurance underwriting, smart home IoT integration, and predictive analytics. This technology stack, particularly the Spinnaker platform, creates switching costs for partners who integrate Hippo's APIs and systems into their operations. The platform's ability to process real-time data from smart home devices and weather monitoring systems provides underwriting advantages that traditional insurers may struggle to replicate quickly. Data network effects represent another potential moat, as Hippo accumulates more claims data, IoT sensor information, and predictive modeling insights that should theoretically improve underwriting accuracy over time. The company's focus on new home construction also provides access to cleaner data sets compared to legacy properties. However, Hippo's moat faces significant challenges. Large incumbent insurers like State Farm, Allstate, and Progressive have vastly superior financial resources, established agent networks, and brand recognition. These companies are increasingly investing in their own technology capabilities and could potentially replicate Hippo's innovations. Regulatory barriers that traditionally protected insurance incumbents are relatively low in the technology services space where Hippo is pivoting. The InsurTech sector is highly competitive with numerous well-funded startups pursuing similar technology-enabled insurance strategies. Big Tech companies like Google, Amazon, and Apple have the technical capabilities and financial resources to enter the home insurance space if they choose to do so. Hippo's moat is currently narrow and depends heavily on execution speed and the ability to build sustainable partnerships before larger competitors can match their technology offerings. The company's success will likely depend on achieving scale in the Insurance-as-a-Service model faster than competitors can develop similar platforms.
Risks & safety
Hippo's margin of safety is moderate to weak given the company's cash burn, recent profitability challenges, and volatile business model transition. **Cash and Liquidity Position:** - Cash and short-term investments: $140.9 million as of Q1 2025 - Quarterly cash burn: approximately $35.7 million in free cash flow deficit - Current cash runway: roughly 4 quarters at current burn rate - Recently raised $50 million surplus note at 9.5% interest rate **Debt and Solvency:** - Minimal traditional debt with debt-to-equity ratio of 0.0% - Total liabilities of $1.21 billion primarily consist of insurance reserves - Strong current ratio improvement from prior periods - No immediate solvency concerns given insurance business structure **Valuation Metrics:** - Trading at 1.98x book value - Negative P/E ratio due to inconsistent earnings - EV/EBITDA of -2.73x (negative due to EBITDA losses) - Market cap of approximately $698 million **Other Considerations:** - Company targeting net profitability by Q4 2025 - Achieved positive adjusted EBITDA in Q4 2024 ($8.5 million) - Significant exposure to catastrophic events (recent $42 million wildfire losses) - Business model transition creates earnings volatility and unpredictability
Recent development
Over the past few years, Hippo has undergone a significant strategic transformation from a direct-to-consumer insurance company to a technology-enabled insurance services platform. This pivot was largely driven by the need to reduce exposure to catastrophic weather losses that severely impacted profitability. The most significant development has been the expansion of the Insurance-as-a-Service business through the Spinnaker platform. This segment achieved 91% year-over-year growth in Q1 2025 and now represents the majority of the company's revenue growth strategy. The platform allows other insurance carriers and partners to leverage Hippo's technology infrastructure without Hippo bearing the underlying insurance risk. Risk reduction initiatives have been central to the company's recent strategy. Management has reduced wind and hail exposure by approximately 80% and implemented significant changes to the Hippo Home Insurance Program, including raising deductibles, non-renewing high-risk policies, and focusing on geographic areas with lower catastrophic risk. The gross loss ratio for HHIP improved by nearly 30 percentage points in 2024. The homebuilder partnership channel has emerged as a key growth driver, with the company reporting 35% year-over-year increase in gross written premium from homebuilder partners. This channel focuses on insuring newly constructed homes, which typically have lower loss ratios and provide more predictable risk profiles. Operational efficiency improvements have been substantial, with the company reducing operating expenses by 19% year-over-year while nearly doubling annual revenue. Sales and marketing expenses were reduced by 41% year-over-year in 2024, while agent productivity increased by 60% and lead conversion rates improved by 17%. Recent leadership changes include the appointment of Guy Zeltser as CFO in March 2025, with former CFO Stewart Ellis transitioning to Chief Strategy Officer. The company has also been proactive in managing catastrophic events, including selling subrogation rights for portions of the Los Angeles wildfire losses to optimize recovery economics.
HIPO company profile · for informational purposes only — not investment advice.
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