Accelerant (ARX) Q2 2026 earnings summary

Executive summary

• Exchange Written Premium grew 20% year-over-year to $2.46B for the six months ended June 30, 2026, with 314 Members and 97 Risk Capital Partners on the platform.

• Net income attributable to common shareholders was $73.5M for the six months, up from $15.3M in the prior year period.

• Adjusted EBITDA for the six months was $159.2M (28% margin), up from $102.4M (26% margin) in the prior year.

• Announced agreement to be acquired by Thoma Bravo Discover Fund V at $20.25 per share, with a ticking fee for regulatory delays; company will become private and future guidance suspended.

• Third-party direct written premium comprised 47% of quarterly volume.

Financial highlights

• Total revenues for the six months were $630.2M, up 59% year-over-year; Q2 revenues were $356.9M, up 63%.

• Net earned premiums rose 94% to $258.9M for the six months.

• Direct commission income increased 130% to $143.3M for the six months.

• Adjusted EBITDA margin improved to 31% from 29% year-over-year.

• Repurchased 4.7 million Class A shares for $66M; $123M remains authorized for repurchases.

Outlook and guidance

• No guidance provided for Q3 or full year 2026 due to the pending Thoma Bravo acquisition.

• The merger with Thoma Bravo is expected to close in the first half of 2027, subject to shareholder and regulatory approvals.

• Anticipates ongoing investment in technology and data analytics to support platform scalability and member growth.