Neptune (NP) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, February 19, 2026 astatine 8:38 AM CST 40 min read

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Wednesday, Feb. 18, 2026, astatine 5 p.m. ET

• Chief Executive Officer — Trevor Burgess

• Chief Financial Officer — John Carlin

• President and Chief Risk Officer — Matt Duffy

• Chief Operating Officer — Jim Steiner

• Chief Strategy Officer — Julie Schertell

John Carlin: Before we begin, I would similar to punctual everyone that today's treatment volition see forward-looking statements, including, among others, statements astir our expectations for our aboriginal fiscal performance, maturation opportunities, concern strategy, marketplace trends, and superior allocation plans. These statements are based connected our existent views and assumptions and are taxable to risks and uncertainties that could origin existent results to disagree materially. We nonstop you to our caller SEC filings for a afloat statement of these risks. We undertake nary work to update immoderate forward-looking statements whether arsenic a effect of caller information, aboriginal events, oregon otherwise, but arsenic required by law. We volition besides notation definite non-GAAP fiscal measures.

These measures should beryllium considered lone arsenic supplements to their comparable GAAP measures. Additional information, including reconciliations of the non-GAAP measures to their astir comparable GAAP measures, tin beryllium recovered successful our net merchandise astatine investors.flood.com and successful our existent study connected Form 8-K that was publically filed with the SEC connected 02/18/2026. I volition present crook the telephone implicit to Trevor for opening remarks. Good evening, and convey you for joining us. Let maine commencement with what is connected everyone's mind. Last week, our banal sold disconnected seemingly due to the fact that investors decided AI is coming for insurance. They are right.

They conscionable person the absorption of the commercialized wholly wrong. Neptune Insurance Holdings Inc. is not threatened by AI disruption. We are AI disruption. We person been since the time we wrote our archetypal policy. We person nary bequest strategy to rip out. We person nary service of manual underwriters to replace. We built this institution arsenic an AI-powered, API-first level from scratch. Proprietary instrumentality learning models, moving pricing, underwriting, portfolio management, and organisation crossed the largest backstage flood dataset successful the United States. Let maine beryllium circumstantial astir what that means. The information moat.

Over years of underwriting and servicing hundreds of thousands of policies, we person assembled proprietary flood hazard data, behavioral retention data, claims show insights, and real-time transaction signals that nary rival tin replicate by simply plugging successful a ample connection model. In an AI-driven world, the exemplary is simply a commodity. The information is the moat. We person the data. The results. Our underwriting show has not conscionable been good. It has been truthful bully that capableness providers are warring to get connected our platform. We grew from 23 to 40 capableness partners this year, a 74% increase, present supporting 8 programs.