Accelerant Holdings (ARX) financial statements
Accelerant Holdings reported revenue of $913M in fiscal 2025, up 62.9% a year over 2 years.
Net income was -$1.4B and the operating margin -144.8%, against -12.8% in 2023.
Free cash flow was $404M.
The diluted share count rose 15% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Accelerant Holdings's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $344M | $603M | $913M |
| Selling, general and admin | $182M | $249M | $400M |
| Operating income | -$44M | $32M | -$1.3B |
| Interest expense | $11M | $12M | $11M |
| Pre-tax income | -$44M | $32M | -$1.3B |
| Income tax | $20M | $9M | $23M |
| Net income | -$49M | $27M | -$1.4B |
| EPS (diluted) | -$0.29 | $0.14 | -$7.49 |
| Diluted shares | 166M | 200M | 190M |
| Operating margin | -12.8% | 5.3% | -144.8% |
| Net margin | -14.2% | 4.5% | -156.1% |
Balance sheet
Fiscal years, from Accelerant Holdings's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash and short-term investments | $775M | $1.2B | $1.7B |
| Receivables | — | $792M | $1.1B |
| Goodwill | $21M | $31M | $63M |
| Total assets | — | $6.1B | $8.3B |
| Total liabilities | — | $5.7B | $7.5B |
| Shareholders' equity | $287M | $304M | $698M |
| Net debt | -$775M | -$1.2B | -$1.7B |
Cash flow
Fiscal years, from Accelerant Holdings's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | $290M | $786M | $445M |
| Capital spending | $33M | $34M | $41M |
| Free cash flow | $257M | $751M | $404M |
| Stock-based compensation | $5M | $8M | $43M |
| Net borrowing | $0 | $0 | -$5M |
| Free cash flow margin | 74.8% | 124.7% | 44.2% |
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Open ARX in InvestinglyQuestions
What was Accelerant Holdings's revenue in 2025?
$913M in fiscal 2025, from its 10-K filing.
How much free cash flow does Accelerant Holdings generate?
$404M in fiscal 2025 (operating cash flow minus capital spending).
From Accelerant Holdings's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.