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Hippo Reports First Quarter 2026 Financial Results

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SAN JOSE, Calif., April 30, 2026 /PRNewswire/ — Hippo Holdings Inc.  (NYSE: HIPO), a technology-native insurance platform reported net income of $7 million, or $0.27 per diluted share and  adjusted net income of $17 million, or $0.65 per diluted share, for the quarter ended March 31, 2026.

First Quarter Highlights

Gross Written Premium increased 58% to $332 million over 1Q25

Net Income of $7 million vs. a Net Loss of $48 million in 1Q25

Adjusted Net Income of $17 million vs. an Adjusted Net Loss of $35 million in 1Q25

Net Loss Ratio improved 58 percentage points to 48.0% compared to 1Q25

Combined Ratio improved 60 percentage points to 99.5% compared to 1Q25

Revenue grew 10% to $122 million compared to 1Q25

Book Value per share of $17.23 up 2% from year-end 2025

“We got off to a fast start in 2026, significantly advancing our strategies on both growth and operational efficiencies. The launch of our strategic distribution relationship with Progressive, when—combined with our existing Westwood partnership —creates a truly differentiated distribution network for Hippo’s homeowners product that is both tech-enabled and scaled. Technology, which has long been a source of strength for Hippo, is core to supporting these new expanded distribution channels.  Our AI-powered transformation across claims, services and underwriting should both support growth and increase profitability for Hippo over time,” said Rick McCathron, Hippo President and CEO.

He continued, “For the quarter, Hippo grew gross written premium by 58%, significantly improved our underwriting results with a 60 point reduction in our combined ratio, and continued to deliver positive net income $7 million of and adjusted net income of $17 million for the quarter. We are operating as a unified, technology-native carrier platform that is driving profitable growth, broadening diversification, and positioning us for long-term success.”

Key Operating and Financial Metrics

Three Months Ended March 31,

2026

2025

($ in millions)

Gross Written Premium

$         332.4

$             210.9

Net Written Premium

101.4

100.3

Net Retention

31 %

48 %

Total Revenue

$          121.5

$              110.3

Net Income (Loss) (1)

7.1

(47.7)

Adjusted Net Income (Loss) (1) (2)

17.2

(35.1)

Basic Earnings (Loss) per Share (1)

0.27

(1.91)

Diluted Earnings (Loss) per Share (1)

0.27

(1.91)

Diluted Adjusted Earnings (Loss) per Share (1) (2)

0.65

(1.41)

Net Loss Ratio

48.0 %

105.9 %

Expense Ratio

51.5 %

53.3 %

Combined Ratio

99.5 %

159.2 %

As of

March 31, 2026

December 31, 2025

Book Value Per Share (BVPS)

$17.23

$16.97

Tangible Book Value Per Share (TBVPS) (2)

$15.09

$14.76

(1) Attributable to Hippo

(2) Indicates non-GAAP financial measure; see “Reconciliation of Non GAAP Financial Measures to Their Most Directly Comparable GAAP Financial
Measures”

First Quarter Operating Summary

Net income of $7 million, or $0.27 per diluted share, compared to a $48 million net loss in Q1 of last year. The improvement was driven primarily by stronger underwriting performance. The first quarter of 2025 included a $45 million loss from California wildfires, and the absence of a comparable event this period more than offset the reduction in fee income following the sale of the builders distribution network.

Adjusted net income of $17 million, or $0.65 a diluted share, compared to a $35 million net adjusted loss in Q1 of last year. This quarter’s results equate to a 16% annualized adjusted return on average shareholders equity.

Gross written premium of $332 million for the quarter increased 58% year over year, up from $211 million in Q1 of last year. Growth was driven by both the Casualty and Commercial Multi-Peril (CMP) lines which were up 193% and 89% over last year, to $101 million and $96 million, respectively. The overall growth strategy is focused on improving underwriting profitability and reducing volatility, including through greater portfolio diversification. For the quarter, Casualty accounted for 30% of gross written premium, compared to CMP which accounted for 29% and Homeowners which accounted for 26%.

Net written premium of $101 million increased by $1 million or 1% from Q1 of last year. Growth in net written premium was lower than the growth in gross written premium due to both a mix shift and a reduction in the Renters line, which contracted by $26 million year over year, on account of a change in retention rate in 2026 vs 2025, and an accompanying unearned premium adjustment related to this change. The 31% net retention rate in the quarter was slightly below our full-year guidance, and driven primarily by the one-time unearned premium adjustment noted above. We expect retention to normalize later in the year, though it may fluctuate quarter to quarter based on growth-related mix shifts.

Revenue in the quarter of $122 million increased 10% from $110 million in Q1 of last year. The increase was primarily driven by higher net earned premium up 13% to $99 million, which more than offset a $5.5 million decline in commissions following the sale of our homebuilder distribution network in Q3’25.

Net Loss ratio of 48.0% improved 58 percentage points over the prior year. This improvement was driven primarily by lower CAT losses this quarter compared to Q1 of last year, which was impacted by the California wildfires. The net accident year loss ratio excluding CAT losses of 46.3% improved by 2 percentage points over the  Q1 of last year.

Expense ratio of 51.5% improved 2 percentage points over the prior year period driven by continued improvement of operating leverage, and despite prior year period benefiting from roughly 4.5 percentage point of profits generated by the homebuilder distribution network we sold in Q3’25.

Combined ratio of 99.5% improved 60 percentage points over the prior year, similarly driven by stronger underwriting performance and a lower expense ratio noted above.

Total Hippo shareholder equity of $449 million, or $17.23 per share, at March 31, 2026, was up 2%, from $436 million, or $16.97 per share, at year-end 2025. The increase was primarily driven by the first quarter net income.

Guidance Update

The following Guidance update is based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Forward-looking statements safe harbor” below.

Prior

Updated

2026 FY

Guidance

2026 FY

Guidance

Gross Written Premium

$1.4 – 1.5B

$1.45 – $1.525B

Net Written Premium

$500 – $540M

$520 – $550M

Revenue

$560 – $570M

Combined Ratio

103% – 105%

103% – 105%

CAT Loss Ratio

13 %

13 %

Adjusted Net Income (Loss)(1)

$45 – $55M

$48 – $56M

Stock-based compensation + Depreciation and Amortization

$41M

$42M

(1) Indicates non-GAAP financial measure; see “Reconciliation of Non GAAP Financial Measures to Their Most Directly Comparable GAAP Financial Measures”

First Quarter Earnings Conference Call and Webcast Information 
Date: Thursday, April 30, 2026
Time: 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time
Dial In: +1 833 470 1428 / Global Dial-In Numbers
Access: 433055350
Webcast: https://events.q4inc.com/attendee/433055350

A replay of the webcast will be made available after the call in the investor relations section of the company’s website at https://investors.hippo.com/

About Hippo

Hippo is a technology-native insurance group that uses its carrier platform to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and advanced underwriting to deliver proactive, tailored coverage for homeowners. Hippo Holdings Inc. subsidiaries include Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies. For more information, please visit http://www.hippo.com.                           

Consolidated Balance Sheet
(in millions, unaudited)

March 31,
2026

December 31,
2025

(unaudited)

Assets

Investments:

Fixed maturities available-for-sale, at fair value (amortized cost: $299.3 million
and $291.7 million, respectively)

$          298.7

$         293.4

Short-term investments, at fair value (amortized cost: $125.3 million and $152.5
million, respectively)

125.2

152.5

Total investments

423.9

445.9

Cash and cash equivalents

275.4

218.3

Restricted cash

29.4

31.8

Accounts receivable, net of allowance of $0.3 million and $0.2 million, respectively

282.1

250.1

Reinsurance recoverable on paid and unpaid losses and LAE

398.1

346.6

Prepaid reinsurance premiums

386.7

353.7

Ceding commissions receivable

132.8

98.7

Capitalized internal use software

42.3

43.0

Intangible assets

13.6

13.8

Other assets

77.6

103.6

Total assets

$         2,061.9

$        1,905.5

Liabilities and stockholders’ equity

Liabilities:

Loss and loss adjustment expense reserve

$          482.6

$         420.4

Unearned premiums

615.3

579.7

Reinsurance premiums payable

356.3

304.4

Provision for commission

39.3

36.3

Surplus note

47.9

47.9

   Accrued expenses and other liabilities

71.8

80.7

Total liabilities

1,613.2

1,469.4

Commitments and contingencies (Note 12)

Stockholders’ equity:

Common stock, $0.0001 par value per share; 80,000,000 shares authorized as of
March 31, 2026 and December 31, 2025; 26,035,917 and 25,699,704 shares issued
and outstanding as of March 31, 2026 and December 31, 2025, respectively

Additional paid-in capital

1,659.4

1,651.5

Accumulated other comprehensive (loss) income

(0.6)

1.8

Accumulated deficit

(1,210.1)

(1,217.2)

Total stockholders’ equity

448.7

436.1

Total liabilities and stockholders’ equity

$         2,061.9

$        1,905.5

 

Consolidated Statement of Operations
(in millions, unaudited)

Three Months Ended March 31,

2026

2025

Revenue:

Net earned premium

$           98.9

$           87.3

Commission income, net

12.7

14.4

Service and fee income

3.2

2.8

Net investment income

6.7

5.8

Total revenue

121.5

110.3

Expenses:

Losses and loss adjustment expenses

47.5

92.4

Insurance related expenses

34.9

30.2

Technology and development expenses

9.4

8.1

Sales and marketing expenses

6.3

8.9

General and administrative expenses

16.2

16.5

Interest and other (income) expense, net

(0.2)

Total expenses

114.3

155.9

Income (loss) before income taxes

7.2

(45.6)

Income tax expense (benefit)

0.1

(0.2)

Net income (loss)

7.1

(45.4)

Net income attributable to noncontrolling interests, net of tax

2.3

Net income (loss) attributable to Hippo

$             7.1

$          (47.7)

Other comprehensive income (loss):

Change in net unrealized gain (loss) on investments, net of tax

(2.4)

2.1

Comprehensive income (loss) attributable to Hippo

$            4.7

$          (45.6)

Per share data:

Net income (loss) attributable to Hippo – basic and diluted

$             7.1

$          (47.7)

Weighted-average shares used in computing net income (loss) per
share attributable to Hippo

Basic

25,840,004

24,978,901

Diluted

26,354,271

24,978,901

Net income (loss) per share attributable to Hippo

Basic

$           0.27

$           (1.91)

Diluted

$           0.27

$           (1.91)

 

Consolidated Statement of Cash Flow 
(in millions, unaudited)

Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net cash provided by (used in) operating activities

$            8.5

$          (35.6)

Cash flows from investing activities:

Capitalized internal use software costs

(3.1)

(2.8)

Purchases of property and equipment

(0.1)

(0.1)

Purchases of fixed maturities

(29.4)

(15.7)

Maturities of fixed maturities

20.9

11.2

Sales of fixed maturities

1.1

Purchases of short-term investments

(65.3)

(50.4)

Maturities of short-term investments

91.4

46.8

Sales of short-term investments

2.0

Proceeds from deferred consideration

25.0

Net cash provided by (used in) investing activities

42.5

(11.0)

Cash flows from financing activities:

Taxes paid related to net share settlement of equity awards

(3.3)

Proceeds from issuance of common stock

1.0

1.0

Payments of contingent consideration

(0.2)

Distributions to noncontrolling interests

(2.5)

Other

2.7

(1.0)

Net cash provided by (used in) financing activities

3.7

(6.0)

Net increase (decrease) in cash, cash equivalents, and restricted cash

54.7

(52.6)

Cash, cash equivalents, and restricted cash at the beginning of the period

250.1

232.8

Cash, cash equivalents, and restricted cash at the end of the period

$         304.8

$          180.2

 

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO THEIR MOST DIRECTLY

COMPARABLE GAAP FINANCIAL MEASURES

(in millions, unaudited)

Adjusted Net Income (Loss)

Three Months Ended March 31,

2026

2025

Net income (loss) attributable to Hippo

$              7.1

$           (47.7)

Adjustments:

Depreciation and amortization

4.8

5.6

Stock-based compensation

6.5

7.7

Fair value adjustments

(0.5)

Other one-off transactions

(1.2)

(0.2)

Adjusted net income (loss)

$            17.2

$           (35.1)

 

Diluted Adjusted Earnings (Loss) per Share

Three Months Ended March 31,

2026

2025

Adjusted net income (loss)

$           17.2

$          (35.1)

Weighted-average common shares
outstanding, diluted

26,354,271

24,978,901

Diluted Adjusted Earnings (Loss) per Share

$           0.65

$           (1.41)

 

Annualized Adjusted Return on Equity

Three Months Ended March 31,

2026

2025

Annualized Adjusted net income (loss)

$        68.8

$      (140.4)

Average Hippo Stockholders’ Equity

442.4

342.5

Annualized Adjusted Return on Equity

16 %

(41) %

 

Tangible Book Value Per Share

As of March 31, 2026

As of December 31, 2025

Hippo Stockholders’ Equity

$                         448.7

$                           436.1

Less: Intangible assets

13.6

13.8

Less: Capitalized Internal Use Software

$                           42.3

$                            43.0

Tangible stockholders’ equity

$                         392.8

$                           379.3

Shares outstanding

26,035,917

25,699,704

Tangible book value per share

$                          15.09

$                           14.76

 

SUPPLEMENTAL FINANCIAL INFORMATION

(in millions, unaudited)

Net Loss, Expense, and Combined Ratio

Three Months Ended March 31,

2026

2025

Net Earned Premium

$          98.9

$          87.3

Catastrophe losses

4.3

53.4

Non-catastrophe losses

43.2

39.0

Loss and loss adjustment expenses

$        47.5

$        92.4

Catastrophe losses ratio

4.3 %

61.2 %

Non-catastrophe losses ratio

43.7 %

44.7 %

Net loss ratio

48.0 %

105.9 %

Insurance related expenses

$        34.9

$        30.2

Technology and development

9.4

8.1

Sales and marketing

6.3

8.9

General and administrative

16.2

16.5

Less: commission income, net and service and

(15.9)

(17.2)

Total net expenses

$        50.9

$        46.5

Expense Ratio

51.5 %

53.3 %

Combined Ratio

99.5 %

159.2 %

Prior accident year developments

Loss and loss adjustment expenses

(2.5)

(3.1)

Net loss ratio

(2.6) %

(3.6) %

Net accident year loss ratio

50.6 %

109.5 %

Net accident year loss ratio x catastrophe

46.3 %

48.3 %

 

Gross and Net Loss Ratio

Three Months Ended March 31,

2026

2025

Gross Losses and LAE

$         147.2

$          211.8

Gross Earned Premium

297.3

222.8

Gross Loss Ratio

49.5 %

95.1 %

Net Losses and LAE

$          47.5

$          92.4

Net Earned Premium

98.9

87.3

Net Loss Ratio

48.0 %

105.9 %

Underwriting Data

The Company has a single reportable segment and offers property & casualty insurance products. Gross written premiums (GWP), Net written premiums (NWP), and Net earned premiums (NEP) by line of business are presented below:

Gross Written Premium (GWP) by State

Three Months Ended March 31,

2026

2025

Amount

% of GWP

Amount

% of GWP

State

California

$      66.0

19.9 %

$      46.0

21.8 %

New York

44.2

13.3 %

12.2

5.8 %

Florida

42.9

12.9 %

32.0

15.2 %

Texas

36.2

10.9 %

26.0

12.3 %

Illinois

12.9

3.8 %

6.0

2.8 %

Georgia

9.7

2.9 %

5.6

2.7 %

Ohio

7.2

2.2 %

4.6

2.2 %

Colorado

7.0

2.1 %

4.5

2.1 %

New Jersey

6.6

2.0 %

4.2

2.0 %

Arizona

6.5

2.0 %

4.3

2.0 %

Other

93.2

28.0 %

65.5

31.1 %

Total

$    332.4

100.0 %

$     210.9

100 %

 

Gross Written Premium (GWP) by Line of Business

Three Months Ended March 31,

2026

2025

Amount

% of
GWP

Amount

% of
GWP

Change

% Change

Line of Business

Homeowners

$    87.3

26 %

$    87.1

41 %

$      0.2

0.2 %

Renters

40.8

12 %

35.0

17 %

5.8

16.6 %

Commercial Multi-Peril

95.8

29 %

50.7

24 %

45.1

89.0 %

Casualty

100.6

30 %

34.3

16 %

66.3

193.3 %

Other

7.9

3 %

3.8

2 %

4.1

107.9 %

Total

$  332.4

100 %

$  210.9

100 %

$    121.5

57.6 %

 

Net Written Premium (NWP) by Line of Business

Three Months Ended March 31,

2026

2025

Amount

% of
NWP

Amount

% of
NWP

Change

%
Change

Line of Business

Homeowners

$   60.8

60 %

$    52.7

52.5 %

$      8.1

15.4 %

Renters

10.8

11 %

37.2

37.1 %

(26.4)

(71.0) %

Commercial Multi-Peril

17.6

17 %

12.5

12.5 %

5.1

40.8 %

Casualty

12.9

13 %

1.1

1.1 %

11.8

1072.7 %

Other

(0.7)

(1) %

(3.2)

(3.2) %

2.5

(78.1) %

Total

$   101.4

100 %

$  100.3

100.0 %

$      1.1

1.1 %

 

Net Earned Premium (NEP) by Line of Business

Three Months Ended March 31,

2026

2025

Amount

% of
NEP

Amount

% of
NEP

Change

%
Change

Line of Business

Homeowners

$    62.7

63.4 %

$    61.6

70.6 %

$      1.1

1.8 %

Renters

17.0

17.2 %

16.6

19.0 %

0.4

2.4 %

Commercial Multi-Peril

15.9

16.1 %

6.6

7.6 %

9.3

140.9 %

Casualty

3.2

3.2 %

0.5

0.6 %

2.7

540.0 %

Other

0.1

0.1 %

2.0

2.2 %

(1.9)

(95.0) %

Total

$    98.9

100.0 %

$    87.3

100.0 %

$     11.6

13.3 %

Information about Key Operating Metrics/Non-GAAP Financial Measures

We define adjusted net income, a Non-GAAP financial measure, as net income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. We calculate the tax impact only on adjustments which would be included in calculating our income tax expense using the estimated tax rate at which the company received a deduction for these adjustments. We use adjusted net income as an internal performance measure in the management of our operations because we believe it gives our management and financial statement users useful insight into our results of operations and our underlying business performance. Adjusted net income does not reflect the overall profitably of our business and should not be viewed as a substitute for net income calculated in accordance with GAAP. Other companies may define adjusted net income differently.

We define diluted adjusted earnings (loss) per share, a Non-GAAP financial measure, as adjusted net income divided by the weighted-average common shares outstanding for the period, reflecting the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. Diluted adjusted earnings (loss) per share should not be viewed as a substitute for diluted earnings (loss) per share calculated in accordance with GAAP. Other companies may define diluted adjusted earnings (loss) per share differently.

We define annualized adjusted return on equity, a Non-GAAP financial measure, as adjusted net income (loss) expressed on an annualized basis as a percentage of average beginning and ending Hippo stockholders’ equity during the period. We use annualized adjusted return on equity as an internal performance measure in the management of our operations because we believe it gives our management and financial statement users useful insight into our results of operations and our underlying business performance. Annualized adjusted return on equity should not be viewed as a substitute for return on equity calculated in accordance with GAAP. Other companies may define annualized adjusted return on equity differently.

We define tangible book value per share, a Non-GAAP financial measure, as total stockholders’ equity, less intangible assets, divided by the outstanding number of shares of our common stock at the end of the relevant period. Our definition of tangible book value per share may not be comparable to that of other companies, and it should not be viewed as a substitute for book value per share calculated in accordance with GAAP. We use tangible book value per share internally to evaluate changes from period to period in book value per share exclusive of changes in intangible assets.

These Non-GAAP financial measures are in addition to, and not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of these Non-GAAP financial measures to their most directly comparable GAAP counterpart is included above. We believe that these non-GAAP measures of financial results provide useful supplemental information to investors about Hippo.             

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the financial position, business strategy, and the plans and objectives of management for Hippo Holdings Inc. (together with its subsidiaries, “Hippo,” the “Company,” “we,” “us” and “our”) for future operations. These statements constitute projections, forecasts, and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts.

Forward-looking statements generally are accompanied by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “seem,” “should,” “strive,” “will,” “would,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements in this press release include, for example, statements about:

our future results of operations and financial condition, including estimates and forecasts of financial and operating results and performance metrics, and our ability to attain and maintain profitability;

our business strategy, including our cost reduction efforts, our diversified distribution strategy, and our plans to expand into new markets and new products;

our ability to grow our business and, if such growth occurs, to effectively manage such growth, including the growth and development of our builder network and other distribution channels;

customer satisfaction and our ability to attract, retain, and expand our customer base;

our ability to maintain and enhance our brand and reputation, including the quality of our products and services;

our expectations about our book of business, including our ability to cross-sell and to attain greater value from each customer;

the effects of seasonal and cyclical trends on our results of operations;

our ability to compete effectively in the segments of the insurance industry in which we operate;

our ability to underwrite risks accurately and charge competitive yet profitable rates to our customers, and the sufficiency of the analytical models we use to assess and predict exposure to catastrophe losses;

our ability to maintain reinsurance contracts and our near- and long-term strategies and expectations with respect to the availability, adequacy, coverage, limits, pricing, and cession of insurance risk;

our ability to utilize, develop, and protect our proprietary technology, digital platform, and intellectual property;

our ability to leverage our data, technology, and geographic diversity to help manage risk;

our ability to expand our product offerings or improve existing ones;

our ability to attract and retain personnel, including our officers and key employees;

potential harm caused by outages or interruptions in, or delays to, services provided by our third-party providers, including our data vendors;

potential harm caused by misappropriation of our data and compromises in cybersecurity, and our ability to receive, process, store, use, and share data in compliance with laws and regulations related to data privacy and data security;

potential harm caused by changes in internet search engines’ methodologies;

our denial of claims or our failure to accurately and timely pay claims;

the effects of severe weather events and other natural or man-made catastrophes, including the effects of climate change, global pandemics, and terrorism;

any overall decline in economic activity;

regulators’ identification of errors in the policy forms we use, the rates we charge, and our customer communications, including cancellations, non-renewals, and reinstatements, through market conduct exams, complaints, or other inquiries;

our ability to navigate extensive insurance industry regulations and the scrutiny of state insurance regulators, and the effects of existing or new legal or regulatory requirements on our business, including with respect to maintenance of risk-based capital and financial strength ratings, the insurance industry generally, and data privacy and cybersecurity, in the United States and internationally;

our expected use of cash on our balance sheet, our future capital needs, and our ability to raise additional capital;

fluctuations in our results of operations and operating metrics; and

our public securities’ liquidity and trading.

These statements are based on the current expectations of Hippo’s management and are not predictions of actual performance. You should not rely upon forward-looking statements as predictions of future events. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, and many actual events and circumstances are beyond the control of Hippo. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we cannot guarantee that the future results, levels of activity, performance, events, and circumstances reflected in the forward-looking statements will be achieved or occur at all.

These forward-looking statements are subject to a number of risks, uncertainties, and other factors, including those described above and other risks set forth in the sections entitled “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and in other documents that may be filed by the Company from time to time with the Securities and Exchange Commission (the “SEC”). Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Hippo does not presently know or that Hippo currently believes are immaterial that could also cause actual results, events, or circumstances to differ materially from those described in the forward-looking statements.

These forward-looking statements are based on information available as of the date of this press release and reflect Hippo’s expectations, plans, forecasts, and views of future events as of that date. Accordingly, forward-looking statements should not be relied upon as representing Hippo’s views as of any subsequent date, and Hippo does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. While Hippo may elect to update these forward-looking statements at some point in the future, Hippo specifically disclaims any obligation to do so. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Rounding

Certain monetary amounts, percentages, and other figures included in this release have been subject to rounding adjustments. The sum of individual metrics may not always equal total amounts indicated due to rounding.

Contacts
Investors:
Charles Sebaski
Investors@hippo.com

Press:
Mark Olson
press@hippo.com

 

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SOPHiA GENETICS Announces Closing of $57.5 Million Public Offering of Ordinary Shares With Full Exercise of the Underwriters’ Option to Purchase Additional Shares

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BOSTON and ROLLE, Switzerland, June 19, 2026 /PRNewswire/ — SOPHiA GENETICS (Nasdaq: SOPH), a global leader in Ai-driven precision medicine, announced today the closing of its previously announced underwritten public offering with total gross proceeds of $57.5 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company. As a result of strong investor demand, the offering was oversubscribed, and the underwriters fully exercised their option to purchase an additional 1,578,900 ordinary shares at the public offering price, less the underwriting discounts and commissions. The Company sold 12,104,900 ordinary shares at a price to the public of $4.75 per share, which included the 1,578,900 ordinary shares issued upon exercise in full by the underwriters of their option to purchase additional shares. All of the ordinary shares were sold by the Company.

TD Cowen acted as the lead book-running manager for the offering. Guggenheim Securities acted as book-running manager, and BTIG and Craig-Hallum acted as lead managers for the offering.

A registration statement on Form F-3 (File No. 333-289266) relating to the ordinary shares and other securities of the Company has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective on August 15, 2025. The offering was made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus relating to this offering has been filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus are available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to this offering, may be obtained for free by contacting TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at TDManualrequest@broadridge.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. There is no intention or permission to publicly offer, solicit, sell or advertise, directly or indirectly, any securities of SOPHiA GENETICS SA, such as the ordinary shares, in or into Switzerland within the meaning of the Swiss Financial Services Act (“FinSA”) and these securities will not be listed or admitted to trading on the SIX Swiss Exchange or on any other regulated trading venue (exchange or multilateral trading facility) in Switzerland. Neither this press release nor any other offering or marketing material relating to these securities, such as the ordinary shares, constitutes or will constitute a prospectus pursuant to the FinSA, and neither this press release nor any other offering or marketing material relating to these securities, such as the ordinary shares, may be publicly distributed or otherwise made publicly available in Switzerland.

About SOPHiA GENETICS

SOPHiA GENETICS (Nasdaq: SOPH) is an Ai-native healthcare technology company on a mission to transform patient care by expanding access to data-driven medicine globally. It is the creator of SOPHiA DDM™, an Ai platform that analyzes complex genomic and multimodal data to generate real-time, real-world insights for a broad global network of hospital, laboratory, and biopharma institutions.

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The New Safe Haven Isn’t Gold, It’s Electricity

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FN Media Group Presents Oilprice.com Market Commentary

NEW YORK, June 19, 2026 /PRNewswire/ — The U.S. dollar is cracking—and the market knows it. After years of monetary excess, swelling deficits, and policy uncertainty, the world’s reserve currency is losing its grip as a store of value. Capital is fleeing paper promises and piling into hard assets at a pace not seen in decades.  Companies mentioned in today’s commentary includes:  Bitzero Holdings Inc.  (NASDAQ: AIBZ) (CSE: AIBZ-U), Advanced Micro Devices, Inc. (NASDAQ: AMD), Palantir Technologies Inc. (NASDAQ: PLTR), Quanta Services, Inc. (NYSE: PWR), SpaceX (NASDAQ: SPCX).

Nowhere is this more visible than in precious metals: Gold has surged to above $4,100 per ounce, silver has ripped past $70, and palladium—once written off—has clawed its way back to $1,350. Add an unstable geopolitical backdrop stretching from war in the Middle East to Venezuela and the ongoing Ukraine War, and it’s no surprise that traditional safe havens are looking increasingly crowded—and increasingly fragile. But here’s the twist: even as precious metals soar, the smartest money in the room is already looking past them.

Gold doesn’t generate cash flow. Silver doesn’t power economies. And when trades get crowded, volatility cuts both ways. The dollar debasement trade and overbought precious metals have pushed some institutional investors into something with steady, growing cash flows: generating power for the Data Centre boom. This is something that Canadian billionaire investor Kevin O’Leary understands like no other.

Finding Hottest Real-Estate in Tech

Securing land and dirt-cheap power contracts is the number one pre-requisite for data centre developers, hyperscalers and crypto miners. In a recent interview, O’Leary highlighted how BitZero (NASDAQ: AIBZ) (CSE: AIBZ-U), a company in which he is a strategic backer, created a unique strategic advantage by being able to lease power for compute business such as data centres or crypto miners.  At a time that Big Tech is scrambling for capacity, the real winners control Gigawatts of power capacity and real estate in strategic locations. Smart money didn’t even need a wake-up call.

“The need for new capacity is very urgent—it needs to be procured now,” says Tania Tsoneva, Head of Infrastructure Research at CBRE Investment Management, one of the world’s largest real-estate investment firms. By partnering with operators that have already locked in land, permits, and power supply, hyperscalers can fast-track new compute deployments, effectively bypassing years of development work and moving straight to installing their hardware.

BitZero succeeded in those two hardest challenges and has secured sites with long-term, low-cost electricity at the outset of the AI-boom. This is exactly what sets BitZero apart from its competitors. Because the company owns its land, power infrastructure, and hardware, its cost base is largely fixed. That structure protects margins and allows expansion without renegotiating leases or power-purchase agreements.

Leveraging True Energy Sovereignty

Founded in 2021, Bitzero has quietly assembled one of the most scalable clean-energy portfolios in the digital infrastructure sector, with more than 1 gigawatt of growth capacity across four strategic sites in Norway, Finland, and North Dakota. Its flagship hydro-powered facility in Namsskogan, Norway, already delivers 40 MW of self-mining capacity at power costs below $0.05 per kWh, among the lowest globally.

According to CEO Mohammed Bakhashwain, each million dollars of capital deployed into Bitzero’s grid and mining equipment generates roughly $700,000 in annual net profit. That efficiency comes from vertical integration: the company owns its high-voltage connections and operates as a licensed grid operator at the 132 kV level, eliminating middle-layer grid fees that most competitors still pay. With expansion capacity exceeding 320 MW in Norway, a one-gigawatt campus in Finland, and up to 300 MW staged in North Dakota, Bitzero has achieved something rare in this market: true energy sovereignty. And it’s this energy sovereignty that institutional investors value so much. We’re living in an age where new generation capacity is bottlenecked and new connections to the grid are almost impossible.

Bitzero’s energy sovereignty gives it a rare two-fold advantage in today’s compute economy: it can either lease scarce, low-cost power directly to hyperscalers and data-center operators, or deploy that same power internally to mine Bitcoin at industry-leading margins and potentially run its own GPU clusters. Bitcoin‘s economics now heavily favor miners who control their energy destiny—at current hash difficulty, every fraction shaved off power costs drops straight to the bottom line. Bitzero’s all-in energy cost of about 4.3 cents per kWh—less than half that of major U.S. peers like Riot Platforms and Marathon Digital—puts its cost per Bitcoin near $50,000 today and below $40,000 once new hardware is fully deployed.

That efficiency, combined with ultra-lean operations where five staff run a 40 MW facility using fully automated monitoring and fault-response systems, creates powerful optionality. When Bitcoin economics are attractive, Bitzero mines; when hyperscalers need capacity fast, it can redirect power to AI-ready data centers. This flexibility is already visible in its purpose-built 200 MW Norwegian site on a former UN airbase, designed exclusively for AI compute and expandable to 500 MW on offshore-wind-backed grid capacity—turning energy control into a switchable revenue engine across both Bitcoin and AI. 

The real inflection point for BitZero (NASDAQ: AIBZ, CSE: AIBZ-U) in 2026 may now be its newly announced 110 MW Norway project, which has the potential to transform the company from a profitable Bitcoin miner into a major AI infrastructure and hyperscaler landlord almost overnight.

Under the binding letter of interest, the site would generate roughly $176 million in annual recurring revenue through long-term contracted compute capacity, with the customer covering energy costs separately and pricing escalating by 3% annually. That structure dramatically improves margin visibility and reduces exposure to power-price volatility, potentially allowing the project to generate well over $135 million in annual net income once operational. Just as importantly, the project highlights why BitZero’s Norwegian assets are so strategically valuable in today’s market: while many competing AI data-center developments face 3–5 year build timelines due to grid bottlenecks and permitting delays, BitZero believes this facility could be delivered as early as Q3 next year thanks to already-secured power access, existing infrastructure, and partnerships with established EPC contractors and cooling-system providers. In a market where hyperscalers are desperately searching for immediately deployable capacity, that speed-to-market advantage could prove enormously valuable.

Skyrocketing valuations in the AI-space

The handful of technology companies that have successfully built a proprietary energy moat similar to BitZero’s now command multi-billion-dollar valuations. Yet despite rising institutional interest in BitZero’s power-first model and asset base, the company remains meaningfully undervalued relative to peers.

Investors in names like TeraWulf (WULF) and BitMine Immersion (BMNR) have seen one-year gains of more than +554% and +269%, respectively. Smart money has learnt that the real advantage in compute and crypto mining is cheap, scalable electricity, and this reality is repeating cycle after cycle. The dynamic in 2026 is no different. 

Other companies to keep an eye on:

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported Q1 2026 data center revenue of $5.8 billion, up 57% year over year — an all-time record — with total Q1 revenue of $10.25 billion, up 38%, beating Wall Street consensus by roughly $350 million. Free cash flow more than tripled to $2.57 billion. CEO Lisa Su called the quarter “a clear inflection in our growth trajectory,” and guided Q2 revenue to $11.2 billion, with server CPU revenue alone expected to grow more than 70% year over year. The stock surged roughly 14% in after-hours trading following the release.

AMD’s data center story runs on two rails that NVIDIA’s does not. First, EPYC server CPUs, which now hold significant market share in hyperscaler deployments across AWS, Google Cloud, and Microsoft Azure, deliver four consecutive quarters of record server CPU revenue. Second, Instinct GPUs are gaining traction as an alternative to NVIDIA in AI training and inference — and the demand signal is large. Meta signed a multi-year agreement to deploy up to 6 GW of AMD Instinct GPUs, with the first 1 GW built around a custom version of the MI450 accelerator and Meta named as a lead customer for AMD’s upcoming sixth-generation EPYC processors.

Palantir Technologies Inc. (NASDAQ: PLTR) sits in a different part of the AI data center stack than most names on this list — it’s the software layer that makes the data inside those data centers actionable for governments and large enterprises. Q1 2026 revenue grew 85% year over year to $1.633 billion, the company’s fastest growth rate since going public in 2020. U.S. revenue grew 104% to $1.28 billion, with U.S. government revenue up 84% to $687 million and U.S. commercial revenue up 133% to $595 million. The company reported a GAAP operating margin of 46%, an adjusted operating margin of 60%, and a Rule of 40 score of 145 — a metric where 40 is considered strong.

The government side of the business is increasingly anchored by AI-enabled defense and intelligence programs. Palantir’s Maven AI system — which analyzes battlefield data and supports targeting and command decisions in real time — is moving closer to becoming a formal U.S. Department of Defense program of record. The Pentagon expanding long-term use of Maven means the revenue base here is contracted and durable, not project-by-project. A $10 billion U.S. Army contract and a $300 million USDA deal in the quarter are concrete data points for what that looks like at scale.

Quanta Services, Inc. (NYSE: PWR) builds and maintains the electrical infrastructure that connects data centers to the grid — transmission lines, substations, high-voltage distribution systems, and the last-mile electrical work that no data center can operate without. It’s not a flashy AI story, but it’s a foundational one: none of the $200 billion Amazon is spending on data centers in 2026 translates into operational compute capacity without the grid connections Quanta builds. CEO Duke Austin has pegged the company’s addressable opportunity at $2.4 trillion through 2030, driven by data center electrification, grid hardening, and renewable interconnection combined.

The constraint driving Quanta’s order book is simple physics: large transformers for high-voltage substation connections have lead times of two years or more, and the skilled labor to install them is in short supply nationally. Quanta has both the relationships with utilities and hyperscalers, and the crew deployment capacity, to capitalize on that constraint. Its backlog has been expanding steadily as hyperscaler capex converts from announced projects into actual construction contracts.

SpaceX (NASDAQ: SPCX) completed the largest IPO in history on June 12, pricing at $135 a share for a $1.77 trillion valuation and topping $2 trillion in market cap on its first trading day. The listing raised roughly $75 billion and made Elon Musk the world’s first trillionaire on paper. But the AI data center story here isn’t really about rockets. It’s about what SpaceX became after merging with xAI in February: a company that now describes itself in its own IPO filing as the operator of “the largest AI training data center clusters on Earth.”

Those clusters are Colossus 1 and Colossus 2, the xAI supercomputers built near Memphis, Tennessee, originally to train Grok. In May, SpaceX struck a deal with Anthropic that hands over essentially the entire Colossus 1 facility — more than 300 megawatts of capacity across roughly 220,000 NVIDIA GPUs, including H100, H200, and GB200 accelerators. Anthropic will pay xAI $1.25 billion a month through May 2029, a contract that could bring in more than $40 billion over its life. It’s a striking arrangement: a direct AI competitor renting out the infrastructure that was supposed to be Grok’s competitive edge, in order to monetize compute Grok wasn’t fully using.

By. Tom Kool

Oilprice Intelligence brings you the inside view on where the next gains will come from, breaking down the market’s biggest growth driver with analysis from veteran oilmen and experts. Click here to get this crucial intel for free

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This press release was distributed on behalf of Bitzero Holdings Inc.

DISCLAIMER:  OilPrice.com is Source of all content listed above.  FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OilPrice.com or any company mentioned herein.  The commentary, views and opinions expressed in this release by OilPrice.com are solely those of OilPrice.com and are not shared by and do not reflect in any manner the views or opinions of FNM.  FNM is not liable for any investment decisions by its readers or subscribers.  FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty one hundred dollars by Bitzero Holdings Inc. to distribute this release on behalf of the company.  #tickertagpressreleases #pressrelease #stockalerts

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World’s 1st HIV-to-HIV Lung Transplant Performed at NYU Langone Health

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NEW YORK, June 19, 2026 /PRNewswire/ — The world’s first HIV-positive-to-HIV-positive lung transplant was performed at NYU Langone Health. 

The surgery brings new hope for HIV-positive patients in need of lung transplants, as it opens a pool of potential donors who were previously ineligible.

“This is a watershed moment for the HIV-positive community and represents real progress in creating equity in organ transplantation,” said Sapna Mehta, MD, clinical director of NYU Langone Transplant Institute and co-architect of the research protocol, sanctioned by the U.S. Food and Drug Administration, that enabled the complex procedure. “While these transplants are still only allowable under certain research protocols, this marks an expansion of options for people in need of a lifesaving organ.”

Approximately 1.2 million people in the United States are living with HIV. People with HIV can live long, healthy lives due to advances in antiretroviral therapies, or ART. Most people using ART are unable to transmit the virus and have near-normal life expectancies.

A Breath of Fresh Air

Bertrand Nelson, 56, has had HIV for nearly 26 years. In 2000, he was diagnosed with HIV and sarcoidosis, which can affect the lungs and spread to the liver. The disease had not yet spread from his lungs, and soon after diagnosis his doctors told him it was in remission. 

Then, in 2021, he acquired Legionnaires’ disease and was hospitalized for weeks with severe pneumonia. The disease reactivated his sarcoidosis, which attacked his liver. His condition worsened in 2024—he required an increasing amount of oxygen to breathe—and his doctor referred him to NYU Langone Transplant Institute to be evaluated for both lung and liver transplants. A research protocol for lung transplantation under the 2013 HIV Organ Policy Equity Act, or HOPE Act, had begun, and he was evaluated for HOPE dual-organ transplant in 2025.

“Transplantation of HOPE hearts and abdominal organs has been done before, but this has not been done in lung transplantation. It takes a special kind of patient to be willing to do something that hasn’t been done before,” said Mark A. Sonnick, MD, transplant pulmonologist at NYU Langone Transplant Institute and co-author of the research protocol with Dr. Mehta.

NYU Langone Transplant Institute is one of the only transplant centers in the United States equipped and approved under a research protocol to perform HOPE lung transplants. Nelson received the first in the world on March 21, 2026, by Stephanie H. Chang, MD, surgical director of lung transplantation at NYU Langone. He received a new liver that same day, performed by Karim J. Halazun, MD, surgical director of liver transplantation at NYU Langone. 

Nelson is now off oxygen for the first time in four years and getting back in shape after years of limited mobility. 

He credits his mother, who will be 82 in August, for always supporting him and helping him throughout his journey.

“I want to be well for her,” he said. “I want her to see me thriving.” 

He hopes his story of perseverance might inspire others and help raise awareness of people in the HIV community in need.

“There are so many others who need access to this level of care, and the more organs that become available, the better the odds of finding the right match and living a long life,” he said.

About NYU Langone Health

NYU Langone Health is a fully integrated health system that consistently achieves the best patient outcomes through a rigorous focus on quality that has resulted in some of the lowest mortality rates in the nation. Vizient Inc. has ranked NYU Langone No. 1 out of 118 comprehensive academic medical centers across the nation four years in a row, and U.S. News & World Report recently ranked four of its clinical specialties No. 1 in the nation. NYU Langone offers a comprehensive range of medical services with one high standard of care across seven inpatient locations, its Perlmutter Cancer Center, and more than 330 outpatient locations in the New York area and Florida. The system also includes two tuition-free medical schools, in Manhattan and on Long Island, and a vast research enterprise.

Media Inquiries
Colin DeVries
Phone: 212-404-3588
Colin.DeVries@NYULangone.org

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