HCI Group, Inc. (HCI) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
3802 COCONUT PALM DRIVE TAMPA, FL 33619 |
| State of Incorp. | FL |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6331 - Fire, Marine, and Casualty Insurance (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 269,446 | 680,683 | 482,471 | 264,503 | 305,937 | 256,929 | |||
| Cash and cash equivalents | 234,863 | 628,943 | 431,341 | 229,218 | 239,458 | 255,884 | |||
| Short-term investments | 34,583 | 51,740 | 51,130 | 35,285 | 66,479 | 1,045 | |||
| Total current assets: | 269,446 | 680,683 | 482,471 | 264,503 | 305,937 | 256,929 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 86 | 79 | 79 | ✕ | ✕ | ||||
| Operating lease, right-of-use asset | 777 | 2,204 | 4,002 | 484 | ✕ | ✕ | |||
| Property, plant and equipment | 17,910 | 14,232 | 12,767 | 14,698 | 13,338 | 12,465 | |||
| Long-term investments and receivables | 18 | 363 | 705 | 762 | 845 | 1,304 | |||
| Long-term investments | 18 | 363 | 705 | 762 | 845 | 1,304 | |||
| Intangible assets, net (including goodwill) | 10,578 | 10,636 | 3,568 | 4,192 | 4,800 | 4,995 | |||
| Intangible assets, net (excluding goodwill) | 10,578 | 10,636 | 3,568 | 4,192 | 4,800 | 4,995 | |||
| Deferred costs | 382 | ||||||||
| Total noncurrent assets: | 29,283 | 27,521 | 21,121 | 20,215 | 18,983 | 19,146 | |||
| Other undisclosed assets | 1,504,599 | 468,653 | 437,721 | 517,891 | 507,943 | 566,189 | |||
| TOTAL ASSETS: | 1,803,328 | 1,176,857 | 941,313 | 802,609 | 832,863 | 842,264 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 1,704 | 11,739 | 11,925 | ||||||
| Deferred income tax liabilities | 1,704 | 11,739 | 11,925 | ✕ | ✕ | ||||
| Total noncurrent liabilities: | 1,704 | 11,739 | 11,925 | ||||||
| Other undisclosed liabilities | 1,546,817 | 750,660 | 728,252 | 617,066 | 651,422 | 648,289 | |||
| Total liabilities: | 1,548,521 | 762,399 | 740,177 | 617,066 | 651,422 | 648,289 | |||
| Temporary equity, carrying amount | 93,553 | 89,955 | |||||||
| Equity | |||||||||
| Equity, attributable to parent | 162,596 | 323,365 | 201,136 | 185,543 | 181,441 | 193,975 | |||
| Additional paid in capital | 76,077 | ||||||||
| Accumulated other comprehensive income (loss) | (9,886) | 498 | 1,544 | 2,178 | (1,453) | 4,566 | |||
| Retained earnings | 172,482 | 246,790 | 199,592 | 183,365 | 182,894 | 189,409 | |||
| Equity, attributable to noncontrolling interest | (1,342) | 1,138 | |||||||
| Total equity: | 161,254 | 324,503 | 201,136 | 185,543 | 181,441 | 193,975 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,803,328 | 1,176,857 | 941,313 | 802,609 | 832,863 | 842,264 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 499,563 | 407,915 | 310,437 | 242,474 | 231,292 | 244,406 | ||
| Premiums earned, net | 463,572 | 377,303 | 262,460 | 216,314 | ✕ | |||
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 228,240 | |
| Cost of revenue (Deferred Policy Acquisition Costs, Amortization Expense) | (100,669) | (86,963) | (49,125) | (37,146) | (35,204) | (35,663) | ||
| Gross profit: | 398,894 | 320,952 | 261,312 | 205,328 | 196,088 | 208,743 | ||
| Operating expenses | (27,262) | (21,843) | (13,803) | (12,203) | (12,115) | (12,101) | ||
| Other operating expense, net | (50,761) | (47,116) | (40,393) | (39,990) | ||||
| Operating income: | 371,632 | 299,109 | 196,748 | 146,009 | 143,580 | 156,652 | ||
| Interest and debt expense | (7,768) | (8,154) | (11,982) | (13,055) | (18,096) | (17,510) | ||
| Income from continuing operations before equity method investments, income taxes: | 363,864 | 290,955 | 184,766 | 132,954 | 125,484 | 139,142 | ||
| Other undisclosed loss from continuing operations before income taxes | (432,282) | (279,722) | (147,838) | (96,861) | (98,582) | (154,766) | ||
| Income (loss) from continuing operations before income taxes: | (68,418) | 11,233 | 36,928 | 36,093 | 26,902 | (15,624) | ||
| Income tax expense (benefit) | 13,815 | (3,991) | (9,348) | (9,517) | (9,177) | 8,731 | ||
| Income (loss) from continuing operations: | (54,603) | 7,242 | 27,580 | 26,576 | 17,725 | (6,893) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 7,242 | 27,580 | 26,576 | 17,725 | (6,893) | ||
| Net income (loss): | (54,603) | 7,242 | 27,580 | 26,576 | 17,725 | (6,893) | ||
| Net loss attributable to noncontrolling interest | (3,908) | (5,386) | ||||||
| Net income (loss) attributable to parent: | (58,511) | 1,856 | 27,580 | 26,576 | 17,725 | (6,893) | ||
| Preferred stock dividends and other adjustments | (5,842) | (4,208) | ||||||
| Other undisclosed net income (loss) available to common stockholders, basic | 9,305 | 4,184 | (1,462) | (1,448) | ||||
| Net income (loss) available to common stockholders, basic: | (55,048) | 1,832 | 26,118 | 25,128 | 17,725 | (6,893) | ||
| Other undisclosed net income available to common stockholders, diluted | 7,705 | 8,748 | 717 | |||||
| Net income (loss) available to common stockholders, diluted: | (55,048) | 1,832 | 33,823 | 33,876 | 18,442 | (6,893) | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (54,603) | 7,242 | 27,580 | 26,576 | 17,725 | (6,893) | ||
| Other comprehensive income (loss) | (10,772) | (1,068) | (634) | 3,631 | (2,835) | 1,923 | ||
| Comprehensive income (loss): | (65,375) | 6,174 | 26,946 | 30,207 | 14,890 | (4,970) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 5,586 | 2,035 | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (59,789) | 8,209 | 26,946 | 30,207 | 14,890 | (4,970) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.