The parent of St. Petersburg-based Neptune Flood reported a 63% drop in profit for 2025, along with a quarterly drop, five months after the firm went public.
Much of the drop in net income was due to some $4.6 million in initial public offering expenses, the company said in an earnings report released last week. Adjusted net income for Q4 was $15.3 million.
Neptune share prices opened today, Monday, at $20.88, up from a low of about $17 seen on Feb. 12, and below the high of $33 seen in October, shortly after the IPO.
The private flood insurer reported 280,000 policies in force at the end of 2025, a number that was up 27% for the year. Written premium climbed 34% for the year to $367 million, according to Neptune’s filing with the U.S. Securities and Exchange Commission.
The filing can be seen here.
Company leadership said in an earnings call that the insurer expects strong growthin in 2026, thanks in part to the federal government’s shutdown and suspension of the National Flood Insurance Program. That helped Neptune to acquire new agents and generate record sales.
Topics Trends Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Worst Start to Wildfire Season Raises Alarm as El Niño Threatens 
Uber and FedEx Get Green Light for Racketeering Suit Against Lawyers, Doctors 
Florida Surplus Lines’ HO Premiums Now Average About the Same as Admitted Market 
Florida Governor Signs Bill Dropping Building Permits for Work Valued at $7,500 or Less 
