Exzeo Group (NYSE:XZO) reported third-quarter revenue of $55 million, unchanged from a year earlier, as executives outlined plans to develop new insurance offerings using the company’s data and automated underwriting technology.
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The company generated approximately $30 million in pretax income and earnings per share of $0.25, while its adjusted EBITDA margin exceeded 51%, Chief Financial Officer Suela Bulku said. The results were within the company’s guidance, she said.
Excluding outsourced claims service revenue, which is largely driven by catastrophe events, adjusted revenue rose to $54 million from $52 million in the year-earlier period. Managed premium at quarter-end increased to approximately $1.4 billion from $1.2 billion a year earlier.
Annual recurring revenue reached $206 million, up from $192 million in the prior quarter, Bulku said.
New offerings target carrier growth
President Kevin Mitchell said Exzeo is building offerings designed around verified data and automated decisions as insurance customers and distributors shift toward digital and artificial intelligence-driven channels. The company’s data platform and automated underwriter are integrated and in pro...