SLDE
Slide Insurance Holdings, Inc.18.21
+0.74+4.24%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details reinsurance, Citizens limits
Q&A clarified Citizens depopulation persists at smaller scale, with 8,000 monthly policy adds but tied to reinsurance pricing. Management detailed a $320 million ILS bond down 20% risk-adjusted year-over-year, embedding expense cuts in 2026 guidance from diversification and market softening ahead of June 1 renewals. Competition lacks sharp pricing drops, as thinly capitalized rivals struggle. California E&S eyes outperformance versus internal plans; New York's profitability cap talk risks insurer pullback. Answers largely reaffirmed prepared momentum. Reinsurance details sharpen the thesis.
Key Stats
Market Cap
2.29BP/E (TTM)
6.48Basic EPS (TTM)
2.81Dividend Yield
0%Recent Filings
10-K
FY2025 results
Slide Insurance Holdings crushed FY2025 with gross premiums written soaring 35% y/y to $1.8B, fueled by 192K policies assumed from Citizens—up 41% y/y—while renewals jumped 38%. No named storm losses hit the books, driving the combined ratio to a stellar 52.1% from 72.3%, with net income doubling to $444M and ROE at 57%. Q4 accelerated momentum via renewal rights from Farmers and organic growth, though Citizens assumptions skewed average premiums lower; policy acquisition costs ticked up to 12.9% as low-cost takeouts matured into renewals. Cash swelled to $1.7B, funding $40M buybacks; debt/CapEx steady. Citizens take-outs remain key, but execution risks loom per Risk Factors.
8-K
Q4 premiums up 57%, profits soar
Slide Insurance crushed Q4 2025 with gross premiums written surging 56.7% to $618.5 million, net income more than doubling to $170.4 million, and combined ratio plummeting to 38.0% from 60.9%—no named storm losses helped. Full-year net income hit $444.0 million. Growth powered by Citizens policy takeovers. 2026 guidance: $1.85B-$1.95B gross premiums, $455M-$470M net income. Catastrophe losses lurk.
10-Q
Q3 FY2025 results
Slide Insurance crushed Q3 with net premiums earned up 31.5% y/y to $243M, fueled by Citizens take-outs and renewals, while losses plunged 70% y/y to $33M on $34M prior-year reserve releases for non-cat losses. Combined ratio sharpened to 48.5% from 94.3%, driving $111M net income and $0.79 diluted EPS—anti-dilution from post-IPO share base confirmed. Cash swelled to $862M plus $540M restricted; $35M term debt maturing 2029, $170M revolver availability. IPO closed June 2025 for $264M net proceeds; $20M stock buyback executed. Catastrophe losses loom large.
8-K
Q3 crushes records
Slide Insurance crushed Q3 2025 with gross premiums written up 33.8% to $463.4 million, net income sextupling to $111.0 million, and a record-low loss ratio of 13.7% alongside a 48.5% combined ratio. Policies in force hit 351,707, up 27.8%, fueled by Florida Citizens takeouts and expansion groundwork in new states. Growth now tops the agenda. Board hiked share repurchases to $120 million.
8-K
CFO departs; Omiridis appointed
Slide Insurance Holdings announced CFO Jesse Schalk's departure effective November 28, 2025, with consulting through March 2, 2026—no disagreements noted. Board appointed Anastasios Omiridis as new CFO effective December 1, 2025, with $650,000 base, $350,000 sign-on bonus, and $1,500,000 target PSUs. Shannon Lucas shifts to President and COO; Matt Larson named Chief Risk Officer. Leadership shakeup brings insurance finance veteran aboard.
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