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Insurance-as-a-service software platform selling underwriting, claims and data-analytics tools to P&C insurers and agents.
Insurance-as-a-service software platform selling underwriting, claims and data-analytics tools to P&C insurers and agents.
Began as the technology arm of HCI Group, the Florida home insurer, and has earned a large share of its revenue from software and services supplied to HCI's own insurance companies, with outside carriers as the growth target.
In one line: A P&C-focused Guidewire.
Moat: narrow (switching costs, process know-how). Nine integrated modules embed deep into a carrier's underwriting and claims workflow.
Headquarters: Tampa, Florida, US · Founded: 2012 · Employees: 354
Size Exzeo (XZO) is a United States Information Technology company (Packaged Software) with a market value of $1.47B, the 2003rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $16.29 on 6 Nov 2026.
Performance Over six months the shares gained 20.8%, against -23.1% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 329.0% over the last twelve months (peer median +9.2%); the operating margin is 48.5% (peer median 5.7%).
Valuation It trades at 14.8× forward earnings against a peer median of 21.3× (8th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +59%, so the hurdle is -67 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 47.0 points above its cost of capital (6.8% WACC).
Backlog Backlog (remaining performance obligations) was $74.8M at 30 Sep 2026, down 3% on a year earlier — 0.3 years of trailing revenue. Backlog detail →
Short interest Short interest is 1.9% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $222M | $217M | $134M | $88.3M | $45.6M |
| Revenue growth | — | +62% | +52% | +94% | — |
| Gross profit | $138M | $131M | $52.9M | $17.0M | -$26.3M |
| EBITDA | $111M | $109M | $40.4M | $4.76M | -$36.1M |
| Net income | $83.8M | $79.0M | $44.1M | $20.8M | -$54.7M |
| Free cash flow | n/a | $97.5M | $189M | $56.1M | -$20.2M |
| Capital expenditure | n/a | $2.84M | $3.33M | $3.25M | $3.45M |
| Total debt | $6.62M | $7.25M | $8.35M | $65.9M | n/a |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Exzeo XZO | $1.47B | +21% | +329% | 49% | 14.8× | -8.4% |
| Guidewire Software GWRE | $13.3B | +17% | +23% | 10% | 38.5× | 39.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | XZO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.5% | +0.8% | 8th highest of 21 |
| 6-month return | +20.8% | -23.1% | 3rd highest of 20 |
| Distance from 52-week high | -33.8% | -44.0% | 8th highest of 21 |
| Revenue growth (TTM) | +329.0% | +9.2% | highest of 21 |
| Operating margin | 48.5% | 5.7% | highest of 21 |
| Forward P/E | 14.8× | 21.3× | 8th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -8.4% | 14.1% | 2nd least demanding of 15 |
| Growth delivered (Del g) | +59.0% | +12.4% | 2nd highest of 15 |
| Hurdle (Req g minus delivered) | -67.5 pp | +2.1 pp | least demanding of 15 |
| ROIC minus cost of capital | +47.0 pp | -1.4 pp | 2nd highest of 19 |
| EV / EBITDA | 12.1× | 12.8× | 5th cheapest of 10 |
| Net debt / EBITDA | -1.2× | -0.7× | 6th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Exzeo XZO | United States | $1.47B | +21% | +329% | 49% | 14.8× | -8.4% | +59.0% |
| PearlAbyss 263750.KS | South Korea | $1.47B | -44% | +114% | 40% | 7.1× | n/a | n/a |
| Pagaya Technologies PGY | United States | $1.47B | +15% | +11% | 22% | 7.8× | 4.1% | +68.9% |
| Systex 6214.TW | Taiwan | $1.46B | +54% | +34% | 3% | 16.6× | -12.4% | +13.1% |
| GO Inc. 581A.T | Japan | $1.45B | n/a | +32% | 17% | 21.9× | 34.7% | +31.9% |
| NextNav NN | United States | $1.45B | -56% | -36% | -1,900% | n/a | n/a | n/a |
| EverCommerce EVCM | United States | $1.45B | -31% | -7% | 13% | 11.7× | 11.6% | +11.8% |
| Phancy 6682.HK | Hong Kong | $1.48B | -45% | +42% | -5% | 88.0× | n/a | n/a |
| Fractal Analytics FRACTAL.NS | India | $1.49B | -27% | +19% | 12% | 41.5× | 31.4% | +18.5% |
| Alkami Technology ALKT | United States | $1.44B | -25% | +24% | -5% | 13.1× | 12.6% | +31.7% |
| Wuxi Boton Technology 300031.SZ | China | $1.50B | +8% | +22% | 2% | 32.5× | 30.2% | +5.6% |
| BlackLine BL | United States | $1.50B | -15% | +9% | 7% | 10.0× | 12.1% | +14.8% |
| YGsoft 002063.SZ | China | $1.51B | -16% | +5% | 13% | 31.0× | 16.3% | +8.9% |
| Shenzhen Kingdom Sci-tech 600446.SS | China | $1.41B | -27% | -22% | -6% | 177.0× | n/a | n/a |
| Yusys Technologies 300674.SZ | China | $1.53B | -23% | -11% | 8% | 20.8× | 15.6% | +4.0% |
| Digiwin 300378.SZ | China | $1.54B | -2% | +10% | 9% | 32.5× | n/a | n/a |
| CloudWalk Technology 688327.SS | China | $1.54B | -28% | -47% | -165% | n/a | n/a | n/a |
| Paradox Interactive PDX.ST | Sweden | $1.54B | +6% | +13% | 6% | 25.3× | 20.8% | +4.1% |
| Longshine Technology 300682.SZ | China | $1.39B | -35% | +7% | -9% | 25.9× | 49.4% | +6.0% |
| Sprinklr CXM | United States | $1.55B | +25% | +6% | 6% | 13.0× | 4.8% | +17.2% |
| Playtech PTEC.L | United Kingdom | $1.39B | +7% | -54% | 0% | 11.4× | -6.0% | -7.4% |
Exzeo reported $74.8M of remaining performance obligations at 30 Sep 2026, down 3% from a year earlier and down 1% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 0.99.