Neptune Flood Q3 2026 slides: 34% revenue growth, 62% margins

Neptune Flood, an insurance technology company, reported its Q3 2026 results on October 20, showcasing a 34% year-over-year revenue growth to $59.6 million. Despite challenges from a sluggish real estate market and a below-average hurricane season, the company achieved profitability levels uncommon in high-growth insurance technology firms.

The company's unique business model, which involves generating revenue through commissions and fees while partnering with capacity providers to manage underwriting risk, has contributed to its strong performance. Adjusted EBITDA rose 37.5% year-over-year to $36.8 million, delivering a 61.7% margin, while net income increased 49.9% to $17.3 million.

The company's Rule of 40 metric, which combines revenue growth with adjusted EBITDA margin, reached 94, indicating excellent financial health.

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