XZO

MKT CAP:$2B

Exzeo Group, Inc.

Market Cap

$2B

Financial Services·Insurance - Diversified·🇺🇸 United States·NYSE

Financials·Insurance·🇺🇸·NYSE

Stock Price

$17.33-$5.43 (-23.86%)

Apr 20, 2026

Company Details

Exzeo Group, Inc. provides turnkey insurance technology and operations solutions to insurance carriers and agents. The company offers an Insurance-as-a-Service (IaaS) platform that provides solutions for operational and administrative activ...

CEO

Pareshbhai Suryakant Patel

IPO Date

Nov 5, 2025

Website

www.exzeo.com

Key Metrics TTM

Revenue

$125M

+140.9% YoY

Net Income

-$2M

EPS (Diluted)

-$0.07

Free Cash Flow

$30M

Revenue / Share

$1.37

Gross Margin

17.8%

Operating Margin

6.2%

Net Margin

-1.4%

FCF Margin

23.8%

P/S

12.3x

P/E

—

Earnings Reports

FY 2025

Feb 26, 2026

$217MEPS $0.87

Q4 2024

Dec 31, 2024

$45MEPS $0.13

Q3 2021

Sep 29, 2021

$32M+219.8%EPS -$0.10

Q2 2021

Jun 29, 2021

$28M+100.5%EPS -$0.06

Q1 2021

Mar 30, 2021

$20M+54.3%EPS -$0.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$13M	$3M	$112.0K
Q2 20	$14M	$2M	-$147.0K
Q3 20	$10M	-$1M	-$4M
Q4 20	$15M	-$2M	-$5M
Q1 21	$20M	$2M	-$548.0K
Q2 21	$28M	$4M	-$821.0K
Q3 21	$32M	-$2M	-$7M
Q4 24	$45M	$19M	$16M

Valuation

Quarter	P/S	P/E
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	40.9x	—
Q1 21	36.0x	—
Q2 21	29.2x	—
Q3 21	22.3x	—
Q4 24	17.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$9M	$9M
Q2 20	$7M	$7M
Q3 20	-$4M	-$4M
Q4 20	$18M	$18M
Q1 21	$27M	$26M
Q2 21	$1M	$821.0K
Q3 21	-$16M	-$17M
Q4 24	$20M	$19M

Capital Expenditures

Quarter	CapEx
Q1 20	$305.0K
Q2 20	$413.0K
Q3 20	$380.0K
Q4 20	$388.0K
Q1 21	$520.0K
Q2 21	$526.0K
Q3 21	$519.0K
Q4 24	$648.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+54.3%	+59.9%
Q2 21	+100.5%	+104.2%
Q3 21	+219.8%	+180.7%
Q4 24	+200.4%	+46.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$0	0.0%
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q4 20	$0	0.0%
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 24	$551.0K	1.2%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 24	$1M	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 20	$102M	$2M	$104M
Q1 21	$203M	$2M	$205M
Q2 21	$203M	$3M	$205M
Q3 21	$183M	$5M	$188M
Q3 25	$141M	$0	$141M
Q4 25	$305M	$0	$305M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	91M	—	—
Q2 20	91M	0.0%	—
Q3 20	91M	0.0%	—
Q4 20	91M	0.0%	—
Q1 21	91M	0.0%	0.0%
Q2 21	91M	0.0%	0.0%
Q3 21	91M	0.0%	0.0%
Q4 24	91M	0.0%	0.0%

Shares Outstanding