Slide Insurance (SLDE) investor relations material

Executive summary

• Q3 gross written premiums rose 9.3% YoY to $506.6M; revenue increased 35.9% to $361.1M and net income rose 24.5% to $138.2M, with diluted EPS of $1.09.

• Q3 reported combined ratio was 59.3%; the accident-year combined ratio excluding catastrophe losses and prior-period development improved to 54.4%.

• 9M revenue grew 40.6% to $1.137B and net income increased 50.8% to $412.6M; the combined ratio improved to 57.4%.

Financial highlights

• Q3 net premiums earned rose 37.1% to $333.3M; net investment income increased 24.8% to $23.8M.

• Q3 net losses and LAE were $101.3M, including $34.2M of Florida convective-storm catastrophe losses; favorable prior-period reserve development was $18.0M.

• Policy acquisition and other underwriting expenses were $46.2M versus $36.4M; G&A was $48.8M versus $45.0M, reflecting growth costs and infrastructure investment.

• 9M net premiums earned grew 40.8% to $1.060B; net investment income rose 37.9% to $66.1M, and diluted EPS was $3.17 versus $2.11.

Outlook and guidance

• FY2026 gross written premium guidance increased to $1.90B-$1.95B from $1.85B-$1.95B; growth is expected from organic expansion, including double-digit increases outside Florida.

• FY2026 net income guidance rose to $500M-$520M from $455M-$470M, inclusive of up to $50M in expected pre-tax Hurricane Isaias losses; expected ROE exceeds 40%.

• Management indicated an 8%-9% minimum growth rate for 2027; growth may be back-end loaded and depends on regulatory ramp-up and reinsurance planning.

• Expected G&A expense ratio run rate is 28.5%-29%; management expects expense ratios to flatten as the business scales.