Exzeo Group, Inc.
XZO NYSE Services-Prepackaged Software Financials FY2023–FY2025
Revenue
Total sales reported in the income statement.
$217M
62.0%
vs prior year
Operating margin
Operating income as a share of revenue.
48.8%
20.5 pts
Net income
Profit after all expenses, interest and tax.
$82.7M
82.6%
Free cash flow
Cash from operations minus capital spending.
$97.5M
112.2%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $0.99 EPS (TTM)
What Exzeo Group, Inc. does
No business description yet.
- Legal name
- Exzeo Group, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Accession · CIK
- 0001193125-26-076686
0001873951
Revenue and margins
Exzeo Group, Inc. had $217M of revenue in fiscal 2025, up 62.0% on the year before.
FY23
Revenue $88.3M
FY24
Revenue $134M
FY25
Revenue $217M
Q3 '24
Revenue $29.1M
Q4 '24
Revenue $44.5M
Q1 '25
Revenue $52.4M
Q2 '25
Revenue $56.1M
Q3 '25
Revenue $55.2M
Q4 '25
Revenue $53.3M
Q1 '26
Revenue $55.5M
Q2 '26
Revenue $57.8M
FY23
Gross 19.6%
Operating 2.9%
Net 24.3%
FCF 7.8%
FY24
Gross 39.7%
Operating 28.4%
Net 33.8%
FCF 34.3%
FY25
Gross 60.4%
Operating 48.8%
Net 38.1%
FCF 44.9%
Gross
Operating
Net
FCF
Q3 '24
Gross 38.2%
Operating 23.1%
Net 18.1%
FCF —
Q4 '24
Gross 42.0%
Operating 35.0%
Net 26.3%
FCF 43.3%
Q1 '25
Gross 55.0%
Operating 45.4%
Net 34.3%
FCF 36.3%
Q2 '25
Gross 59.8%
Operating 50.1%
Net 38.6%
FCF 66.4%
Q3 '25
Gross 61.2%
Operating 49.4%
Net 38.3%
FCF 54.9%
Q4 '25
Gross 65.4%
Operating 50.3%
Net 41.2%
FCF 20.4%
Q1 '26
Gross 59.0%
Operating 45.2%
Net 36.7%
FCF 45.3%
Q2 '26
Gross 63.7%
Operating 49.3%
Net 40.3%
FCF 26.3%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2023 to 2025, diluted EPS grew 156.9% a year. Loss periods are shown in red.
FY23
Net income $21.5M
FY24
Net income $45.3M
FY25
Net income $82.7M
Q3 '24
Net income $5.3M
Q4 '24
Net income $11.7M
Q1 '25
Net income $18.0M
Q2 '25
Net income $21.7M
Q3 '25
Net income $21.2M
Q4 '25
Net income $22.0M
Q1 '26
Net income $20.4M
Q2 '26
Net income $23.3M
FY23
Diluted EPS $0.15
FY24
Diluted EPS $0.44
FY25
Diluted EPS $0.99
Q3 '24
Diluted EPS $0.06
Q4 '24
Diluted EPS —
Q1 '25
Diluted EPS $0.22
Q2 '25
Diluted EPS $0.26
Q3 '25
Diluted EPS $0.25
Q4 '25
Diluted EPS $0.26
Q1 '26
Diluted EPS $0.22
Q2 '26
Diluted EPS $0.26
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY23
Return on capital —
Return on equity —
Return on assets —
FY24
Return on capital —
Return on equity —
Return on assets 50.7%
FY25
Return on capital —
Return on equity 61.4%
Return on assets 37.9%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $97.5M in fiscal 2025, 44.9% of revenue. Cash from operations minus capital spending.
FY23
Free cash flow $6.9M
FY24
Free cash flow $45.9M
FY25
Free cash flow $97.5M
Q3 '24
Free cash flow —
Q4 '24
Free cash flow $19.3M
Q1 '25
Free cash flow $19.0M
Q2 '25
Free cash flow $37.3M
Q3 '25
Free cash flow $30.3M
Q4 '25
Free cash flow $10.9M
Q1 '26
Free cash flow $25.1M
Q2 '26
Free cash flow $15.2M
FY23
Cash from operations $10.2M
Capital spending $3.2M
FY24
Cash from operations $49.3M
Capital spending $3.3M
FY25
Cash from operations $100M
Capital spending $2.8M
Cash from operations
Capital spending
Q3 '24
Cash from operations —
Capital spending —
Q4 '24
Cash from operations $19.9M
Capital spending $0.6M
Q1 '25
Cash from operations $19.8M
Capital spending $0.8M
Q2 '25
Cash from operations $37.8M
Capital spending $0.5M
Q3 '25
Cash from operations $31.5M
Capital spending $1.2M
Q4 '25
Cash from operations $11.3M
Capital spending $0.4M
Q1 '26
Cash from operations $25.5M
Capital spending $0.3M
Q2 '26
Cash from operations $15.4M
Capital spending $0.2M
Cash from operations
Capital spending
Dividends, buybacks and share count
Exzeo Group, Inc. returned $1.5M to shareholders in fiscal 2025, 2% of free cash flow. The diluted share count rose 3.5%.
FY23
Dividends —
Buybacks $0.4M
FY24
Dividends —
Buybacks $0.5M
FY25
Dividends —
Buybacks $1.5M
Dividends
Buybacks
Q3 '24
Dividends —
Buybacks —
Q4 '24
Dividends —
Buybacks $0.0M
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks $0.0M
Q4 '25
Dividends —
Buybacks $1.5M
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Dividends
Buybacks
FY23
Diluted shares 0.08B
FY24
Diluted shares 0.08B
FY25
Diluted shares 0.08B
Balance sheet
Cash, debt and the ratios that show how comfortably Exzeo Group, Inc. can carry it.
FY23
Cash $15.1M
Debt —
FY24
Cash $54.5M
Debt —
FY25
Cash $305M
Debt —
Cash
Debt
| Fiscal year end | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash and short-term investments | $15.1M | $54.5M | $305M |
| Current ratio | — | 1.2x | 3.9x |
| Quick ratio | — | 1.2x | 3.9x |
| Total assets | — | $89.4M | $348M |
| Total liabilities | — | $73.9M | $93.6M |
| Shareholders' equity | −$25.3M | $15.5M | $254M |
| Net debt (− = net cash) | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✕ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — |
| Current ratio rose | — | — | ✓ |
| Share count didn't rise | — | ✕ | ✕ |
| Gross margin rose | — | ✓ | ✓ |
| Revenue rose relative to assets | — | — | ✕ |
| F-score | — / 3 | — / 5 | 5 / 8 |
| Accruals ratio | — | −4.4% | −8.0% |
| Altman Z'' | — | 1.78 | 9.69 |
3 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Income statement | |||
| Revenue | $88.3M | $134M | $217M |
| Gross profit | $17.3M | $53.2M | $131M |
| Research and development | $6.5M | $6.5M | $8.8M |
| Operating income | $2.6M | $38.0M | $106M |
| Pretax income | $0.9M | $35.2M | $110M |
| Income tax | −$12.0M | $9.2M | $27.5M |
| Net income | $21.5M | $45.3M | $82.7M |
| Net income to common | $12.1M | $35.2M | $82.7M |
| Diluted EPS | $0.15 | $0.44 | $0.99 |
| Diluted shares | 0.08B | 0.08B | 0.08B |
| Cash flow | |||
| Cash from operations | $10.2M | $49.3M | $100M |
| Capital expenditure | $3.2M | $3.3M | $2.8M |
| Free cash flow | $6.9M | $45.9M | $97.5M |
| Depreciation and amortization | $1.9M | $2.2M | $2.4M |
| Stock-based compensation | $2.9M | $3.4M | $2.6M |
| Share buybacks | $0.4M | $0.5M | $1.5M |
| Dividends and buybacks | $0.4M | $0.5M | $1.5M |
| Balance sheet | |||
| Cash and short-term investments | $15.1M | $54.5M | $305M |
| Current assets | — | $67.2M | $326M |
| Current liabilities | — | $56.4M | $84.4M |
| Property and equipment, net | — | $10.8M | $10.7M |
| Total assets | — | $89.4M | $348M |
| Total liabilities | — | $73.9M | $93.6M |
| Shareholders' equity | −$25.3M | $15.5M | $254M |
| Margins | |||
| Gross margin | 19.6% | 39.7% | 60.4% |
| Operating margin | 2.9% | 28.4% | 48.8% |
| EBITDA margin | 5.0% | 30.0% | 50.0% |
| Net margin | 24.3% | 33.8% | 38.1% |
| FCF margin | 7.8% | 34.3% | 44.9% |
| Returns | |||
| Return on capital employed | — | 115.0% | 40.2% |
| Return on equity | — | — | 61.4% |
| Return on assets | — | 50.7% | 37.9% |
| Return on tangible equity | — | 226.8% | 32.6% |
| Growth | |||
| Revenue growth | — | 51.6% | 62.0% |
| Net income growth | — | 111.2% | 82.6% |
| EPS growth | — | 193.3% | 125.0% |
| FCF growth | — | 565.1% | 112.2% |
| Share count change | — | 1.8% | 3.5% |
| Financial health | |||
| Current ratio | — | 1.2x | 3.9x |
| Quick ratio | — | 1.2x | 3.9x |
| Capital allocation | |||
| Capex / revenue | 3.7% | 2.5% | 1.3% |
| Stock comp / revenue | 3.3% | 2.5% | 1.2% |
| Payouts / FCF | 5.1% | 1.0% | 1.5% |
| Quality scores | |||
| Piotroski F-score | — | — | 5.0 |
| Altman Z'' | — | 1.8 | 9.7 |
| Accruals ratio | — | −4.4% | −8.0% |
Source: SEC EDGAR XBRL filings (CIK 0001873951). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.