XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Net earned premium $ 64.4 $ 22.3 $ 124.9 $ 36.1
Commission income, net 16.1 16.2 32.0 33.6
Service and fee income 3.0 3.8 5.8 7.0
Net investment income 6.1 5.4 12.0 10.8
Total revenue 89.6 47.7 174.7 87.5
Expenses:        
Losses and loss adjustment expenses 60.4 76.7 113.0 114.4
Insurance related expenses 24.5 18.8 45.3 34.5
Technology and development 7.8 13.1 16.1 24.7
Sales and marketing 13.4 22.6 27.8 45.0
General and administrative 19.9 21.5 38.2 41.3
Impairment and restructuring charges 0.0 0.0 3.6 0.0
Other (income) expense, net 0.1 0.0 0.0 0.5
Total expenses 126.1 152.7 244.0 260.4
Loss before income taxes (36.5) (105.0) (69.3) (172.9)
Income tax expense 0.7 0.2 1.0 0.5
Net loss (37.2) (105.2) (70.3) (173.4)
Net income attributable to noncontrolling interests, net of tax 3.3 2.6 5.9 4.3
Net loss attributable to Hippo (40.5) (107.8) (76.2) (177.7)
Other comprehensive income (loss):        
Change in net unrealized gain (loss) on investments, net of tax (0.2) (1.1) (0.7) 0.6
Comprehensive loss attributable to Hippo (40.7) (108.9) (76.9) (177.1)
Per share data:        
Net loss attributable to Hippo - basic (40.5) (107.8) (76.2) (177.7)
Net loss attributable to Hippo - diluted $ (40.5) $ (107.8) $ (76.2) $ (177.7)
Weighted-average shares used in computing net loss per share attributable to Hippo - basic (in shares) 24,633,960 23,387,767 24,583,168 23,293,652
Weighted-average shares used in computing net loss per share attributable to Hippo - diluted (in shares) 24,633,960 23,387,767 24,583,168 23,293,652
Net loss per share attributable to Hippo - basic (in dollars per share) $ (1.64) $ (4.61) $ (3.10) $ (7.63)
Net loss per share attributable to Hippo - diluted (in dollars per share) $ (1.64) $ (4.61) $ (3.10) $ (7.63)