Palomar Holdings, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $876.0M | $553.9M | $375.9M | $327.1M | $247.8M | $168.5M | $113.3M | $73.0M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $253.8M | $152.3M | $107.4M | $68.4M | $57.2M | $6.2M | $19.1M | $20.5M |
| Operating Margin | 29.0% | 27.5% | 28.6% | 20.9% | 23.1% | 3.7% | 16.9% | 28.1% |
| Interest Expense | $392.0K | $1.1M | $3.8M | $873.0K | $40.0K | — | $1.1M | $2.3M |
| Pretax Income | $253.4M | $151.2M | $103.6M | $67.6M | $57.1M | $6.2M | $18.1M | $18.2M |
| Income Tax Expense | $56.3M | $33.6M | $24.4M | $15.4M | $11.3M | $-34.0K | $7.5M | $-6.0K |
| Net Income | $197.1M | $117.6M | $79.2M | $52.2M | $45.8M | $6.3M | $10.6M | $18.2M |
| Net Margin | 22.5% | 21.2% | 21.1% | 15.9% | 18.5% | 3.7% | 9.4% | 25.0% |
| EPS (Basic) | $7.40 | $4.61 | $3.19 | $2.07 | $1.80 | $0.25 | $0.49 | $1.07 |
| EPS (Diluted) | $7.17 | $4.48 | $3.13 | $2.02 | $1.76 | $0.24 | $0.49 | $1.07 |
| Shares Outstanding (Basic) | 26.6M | 25.5M | 24.8M | 25.2M | 25.5M | 24.9M | 21.5M | 17.0M |
| Shares Outstanding (Diluted) | 27.5M | 26.2M | 25.3M | 25.8M | 26.1M | 25.6M | 21.8M | 17.0M |
| Dividends Per Share | — | — | — | — | — | — | — | — |