AAME

MKT CAP:$52M

Atlantic American Corporation

Market Cap

$52M

Financial Services·Insurance - Life·🇺🇸 United States·NASDAQ

Financials·Insurance - Life·🇺🇸·NASDAQ

Stock Price

$2.58-$0.30 (-10.42%)

Apr 23, 2026

Company Details

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. The company operates through American Southern and Bankers Fidelity segments. It offers pr...

CEO

Hilton Hatchett Howell Jr.

IPO Date

Mar 17, 1980

Website

www.atlam.com

Key Metrics TTM

Revenue

$208M

+12.0% YoY

Net Income

$5M

EPS (Diluted)

$0.23

Free Cash Flow

$24M

Revenue / Share

$9.56

Gross Margin

18.9%

Operating Margin

3.2%

Net Margin

2.5%

FCF Margin

11.6%

P/S

0.3x

P/E

10.3x

Earnings Reports

Q4 2025

May 11, 2026

PENDING

Q3 2025

Nov 14, 2025

$54M+20.8%EPS $0.03

Q2 2025

Aug 12, 2025

$55M+16.0%EPS $0.15

Q1 2025

May 13, 2025

$50M+6.7%EPS $0.03

FY 2024

Mar 25, 2025

$188M+0.8%EPS -$0.23

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$50M	$7M	$3M
Q1 22	$52M	$8M	$4M
Q2 22	$45M	$2M	-$2M
Q3 22	$46M	$3M	-$949.0K
Q4 22	$45M	$6M	$1M
Q1 23	$46M	$3M	-$2M
Q2 23	$49M	$7M	$2M
Q3 23	$45M	$7M	$2M
Q4 23	$47M	$2M	-$3M
Q1 24	$47M	$15M	-$2M
Q2 24	$48M	$4M	-$849.0K
Q3 24	$45M	$2M	-$2M
Q4 24	$49M	$5M	$545.0K
Q1 25	$50M	$7M	$1M
Q2 25	$55M	$9M	$4M
Q3 25	$54M	$19M	$769.0K

Valuation

Quarter	P/S	P/E
Q4 21	0.3x	13.2x
Q1 22	0.3x	7.9x
Q2 22	0.3x	19.6x
Q3 22	0.3x	18.2x
Q4 22	0.3x	34.5x
Q1 23	0.3x	—
Q2 23	0.2x	59.7x
Q3 23	0.2x	12.6x
Q4 23	0.3x	—
Q1 24	0.3x	—
Q2 24	0.2x	—
Q3 24	0.2x	—
Q4 24	0.2x	—
Q1 25	0.2x	—
Q2 25	0.2x	17.2x
Q3 25	0.3x	11.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$11M	$11M
Q1 22	-$8M	-$8M
Q2 22	$4M	$4M
Q3 22	$2M	$2M
Q4 22	$9M	$9M
Q1 23	-$12M	-$12M
Q2 23	$7M	$7M
Q3 23	$1M	$1M
Q4 23	$6M	$6M
Q1 24	-$5M	-$5M
Q2 24	$416.0K	$361.0K
Q3 24	$90.0K	$58.0K
Q4 24	$10M	$10M
Q1 25	-$722.0K	-$986.0K
Q2 25	$9M	$9M
Q3 25	$7M	$7M

Capital Expenditures

Quarter	CapEx
Q4 21	$18.0K
Q1 22	$1.0K
Q2 22	$67.0K
Q3 22	$44.0K
Q4 22	$14.0K
Q1 23	$59.0K
Q2 23	$9.0K
Q3 23	$7.0K
Q4 23	$5.0K
Q1 24	$39.0K
Q2 24	$55.0K
Q3 24	$32.0K
Q4 24	$99.0K
Q1 25	$264.0K
Q2 25	$170.0K
Q3 25	$31.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	-17.0%	+3.2%
Q1 22	+5.2%	-3.6%
Q2 22	-13.2%	-1.9%
Q3 22	-6.0%	-6.5%
Q4 22	-9.1%	-5.3%
Q1 23	-10.3%	+0.6%
Q2 23	+10.1%	+0.4%
Q3 23	-3.8%	-10.2%
Q4 23	+3.3%	+13.6%
Q1 24	+1.6%	+1.2%
Q2 24	-3.1%	+3.3%
Q3 24	-0.2%	+10.6%
Q4 24	+4.9%	-2.7%
Q1 25	+6.7%	+0.9%
Q2 25	+16.0%	+5.3%
Q3 25	+20.8%	+12.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$27.0K	0.1%
Q1 22	$27.0K	0.1%
Q2 22	$38.0K	0.1%
Q3 22	$27.0K	0.1%
Q4 22	$42.0K	0.1%
Q1 23	$73.0K	0.2%
Q2 23	$26.0K	0.1%
Q3 23	$17.0K	0.0%
Q4 23	$3.0K	0.0%
Q1 24	$5.0K	0.0%
Q2 24	$1.0K	0.0%
Q3 24	$3.0K	0.0%
Q4 24	$2.0K	0.0%
Q1 25	$2.0K	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$25M	$261M	$286M
Q1 22	$16M	$240M	$256M
Q2 22	$16M	$219M	$235M
Q3 22	$22M	$202M	$224M
Q4 22	$29M	$209M	$238M
Q1 23	$14M	$218M	$232M
Q2 23	$24M	$208M	$233M
Q3 23	$24M	$34M	$58M
Q4 23	$28M	$37M	$66M
Q1 24	$21M	$41M	$62M
Q2 24	$21M	$40M	$62M
Q3 24	$23M	$41M	$64M
Q4 24	$36M	$0	$36M
Q1 25	$36M	$31M	$67M
Q2 25	$46M	$38M	$84M
Q3 25	$34M	$45M	$79M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	22M	+8.9%	+1.2%
Q1 22	22M	-2.0%	+6.6%
Q2 22	20M	-6.2%	-6.4%
Q3 22	20M	-0.1%	-0.1%
Q4 22	20M	+0.0%	-8.2%
Q1 23	20M	+0.1%	-6.2%
Q2 23	22M	+6.7%	+6.8%
Q3 23	22M	-0.0%	+6.8%
Q4 23	20M	-6.3%	+0.1%
Q1 24	20M	-0.0%	-0.0%
Q2 24	20M	-0.0%	-6.3%
Q3 24	20M	0.0%	-6.3%
Q4 24	20M	-0.0%	-0.0%
Q1 25	20M	0.0%	-0.0%
Q2 25	22M	+6.7%	+6.7%
Q3 25	22M	0.0%	+6.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$355.2K	140
Q1 22	$368.6K	140
Q2 22	$319.1K	140
Q3 22	$331.0K	140
Q4 22	$318.5K	142
Q1 23	$325.8K	142
Q2 23	$346.4K	142
Q3 23	$314.0K	142
Q4 23	$301.6K	155
Q1 24	$303.2K	155
Q2 24	$307.5K	155
Q3 24	$287.2K	155
Q4 24	$314.4K	156
Q1 25	$321.3K	156
Q2 25	$354.4K	156
Q3 25	$344.6K	156

Revenue / Employee