Exzeo Group (XZO) investor relations material

Company overview and business model

• Provides turnkey insurance technology and operations solutions for P&C insurance carriers and agents via a proprietary Insurance-as-a-Service (IaaS) platform with nine configurable software and analytics applications.

• Revenue is generated from underwriting/management services, claim services, and technology services, typically under variable fee contracts based on managed premium.

• Initially served HCI Group affiliates but is expanding to new customers and geographies, currently licensed in 29 states and operating in 13.

• The platform supports quoting, underwriting, policy management, claims, data reporting, and financial reporting, aiming to streamline and automate insurance operations.

• Technology is developed and maintained by a team of 175+ professionals, with a focus on scalability and data-driven decision-making.

Financial performance and metrics

• Revenue for the six months ended June 30, 2025 was $108.5M, up 79.9% from $60.3M in the prior year period; net income after tax was $39.6M, up 334.8%.

• For the year ended December 31, 2024, revenue was $133.9M (up 51.6%), net income after tax was $26.1M (up 102.1%).

• Adjusted EBITDA for the six months ended June 30, 2025 was $54.8M (53.5% margin); for 2024, $44.0M (32.5% margin).

• Cash and cash equivalents as of June 30, 2025 were $110.7M; net cash from operations for the six months ended June 30, 2025 was $57.5M.

• Managed premium as of June 30, 2025 was $1.22B, with 97,595 managed policies and a gross dollar retention rate of 88.8%.

Use of proceeds and capital allocation

• Estimated net proceeds of $154.39M (or $177.83M if underwriters' option exercised) at $21.00/share, to be used for general corporate purposes, including working capital, R&D, operating expenses, and potential acquisitions.

• No current agreements for material acquisitions or investments; proceeds may be invested in short/intermediate-term interest-bearing instruments pending use.