Slide Insurance (SLDE) investor relations material

Executive summary

• Gross premiums written grew 49.1% year-over-year to $414.8 million in Q1 2026, driven by new business, renewals, and Citizens policy acquisitions.

• Net income increased 51% year-over-year to $139.5 million, with diluted EPS of $1.02 and total revenue up 38.2% to $389.3 million.

• Policies in force rose 46% year-over-year to 508,928, reflecting strong organic and acquisition-driven expansion.

• Strategic focus on tech-enabled coastal specialty insurance and geographic expansion beyond Florida, including imminent California launch.

• Completed $137.1 million in share repurchases during Q1 2026, with a new $125 million repurchase program authorized.

Financial highlights

• Net premiums earned increased 37.5% to $365.9 million, primarily from Citizens policy assumptions and renewals.

• Loss ratio improved to 30.4% from 31.5% year-over-year, and combined ratio improved to 55.5% from 58.9%.

• Return on equity was 12.5% for Q1 2026.

• Cash, cash equivalents, and restricted cash totaled $1.7 billion as of March 31, 2026.

• Expense ratio decreased to 25.1% from 27.4% year-over-year.

Outlook and guidance

• Reaffirmed full-year 2026 guidance: gross written premiums of $1.85–$1.95 billion and net income of $455–$470 million.

• Topline growth expected from organic expansion, double-digit policy increases outside Florida, and selective Florida opportunities.

• Management expects continued growth in underserved coastal specialty markets due to reduced capacity from national carriers.

• Legislative and regulatory changes, as well as improved data and rate increases at Citizens, are expected to support further policy assumptions.

• Sufficient liquidity and capital resources are anticipated to meet working capital and capital expenditure needs for the next twelve months.