HIPO - Hippo Holdings GAAP EPS of -$3.01 misses by $0.68 revenue of $39.8M beats by $7.53M

2023-05-09 07:56:46 ET

• Hippo Holdings press release ( NYSE: HIPO ): Q1 GAAP EPS of -$3.01 misses by $0.68 .
• Revenue of $39.8M (+62.4% Y/Y) beats by $7.53M .
• Guidance: With Q1 behind us, we are increasing our TGP guidance, now expecting to exceed $1 billion of TGP versus our previous statement of “nearing $1 billion”
• We now expect revenues to be up over 45% year over year, versus prior guidance of “over 40%”
• We continue to expect an adjusted EBITDA loss of $147 million for 2023
• We reiterate our expectation of turning adjusted EBITDA positive by the end of 2024 and highlight that adjusted EBITDA excludes investment income.
• Shares -1.3% PM.

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