Announcement • May 27
MBIA Inc. to Report Q2, 2026 Results on Aug 06, 2026 MBIA Inc. announced that they will report Q2, 2026 results at 12:00 PM, US Eastern Standard Time on Aug 06, 2026 Reported Earnings • May 11
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: US$0.78 loss per share (improved from US$1.28 loss in 1Q 2025). Revenue: US$24.0m (up 14% from 1Q 2025). Net loss: US$39.0m (loss narrowed 37% from 1Q 2025). Revenue missed analyst estimates by 8.2%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is expected to decline by 6.4% p.a. on average during the next 2 years, while revenues in the Insurance industry in the US are expected to grow by 2.6%. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Mar 24
MBIA Inc., Annual General Meeting, May 05, 2026 MBIA Inc., Annual General Meeting, May 05, 2026. Announcement • Mar 14
MBIA Inc. to Report Q1, 2026 Results on May 07, 2026 MBIA Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 07, 2026 Reported Earnings • Feb 27
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: US$3.55 loss per share (improved from US$9.30 loss in FY 2024). Revenue: US$80.0m (up 196% from FY 2024). Net loss: US$175.0m (loss narrowed 60% from FY 2024). Revenue missed analyst estimates by 35%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Announcement • Nov 18
MBIA Inc. to Report Q4, 2025 Results on Feb 26, 2026 MBIA Inc. announced that they will report Q4, 2025 results on Feb 26, 2026 Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: US$0.14 loss per share (improved from US$1.07 loss in 3Q 2024). Revenue: US$15.0m (down 55% from 3Q 2024). Net loss: US$7.00m (loss narrowed 86% from 3Q 2024). Revenue missed analyst estimates by 29%. Earnings per share (EPS) exceeded analyst estimates by 83%. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 16% per year. Recent Insider Transactions • Aug 31
Independent Director recently sold US$50k worth of stock On the 27th of August, Theodore Shasta sold around 6k shares on-market at roughly US$7.90 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$152k. Insiders have been net sellers, collectively disposing of US$635k more than they bought in the last 12 months. Announcement • Aug 19
MBIA Inc. to Report Q3, 2025 Results on Nov 04, 2025 MBIA Inc. announced that they will report Q3, 2025 results on Nov 04, 2025 Recent Insider Transactions • Aug 13
Independent Director recently sold US$152k worth of stock On the 11th of August, Richard Vaughan sold around 25k shares on-market at roughly US$6.07 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$370k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 12
Independent Director notifies of intention to sell stock Richard Vaughan intends to sell 25k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of August. If the sale is conducted around the recent share price of US$5.92, it would amount to US$149k. Since December 2024, Richard's direct individual holding has increased from 61.81k shares to 111.96k. Company insiders have collectively sold US$217k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 08
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: US$1.13 loss per share (improved from US$5.33 loss in 2Q 2024). Net loss: US$56.0m (loss narrowed 78% from 2Q 2024). Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) missed analyst estimates by 9.8%. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 24% per year. Announcement • May 29
MBIA Inc. to Report Q2, 2025 Results on Aug 06, 2025 MBIA Inc. announced that they will report Q2, 2025 results on Aug 06, 2025 Price Target Changed • May 09
Price target decreased by 19% to US$6.50 Down from US$8.00, the current price target is an average from 2 analysts. New target price is 51% above last closing price of US$4.30. Stock is down 30% over the past year. The company is forecast to post a net loss per share of US$4.07 next year compared to a net loss per share of US$9.30 last year. Announcement • Mar 26
MBIA Inc., Annual General Meeting, May 06, 2025 MBIA Inc., Annual General Meeting, May 06, 2025. Announcement • Mar 08
MBIA Inc. to Report Q1, 2025 Results on May 08, 2025 MBIA Inc. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 08, 2025 Reported Earnings • Feb 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$9.30 loss per share (improved from US$10.04 loss in FY 2023). Revenue: US$42.0m (up US$36.0m from FY 2023). Net loss: US$441.0m (loss narrowed 8.9% from FY 2023). Revenue missed analyst estimates by 64%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Revenue is forecast to grow 37% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 24% per year. New Risk • Jan 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Negative equity (-US$2.0b). Share price has been volatile over the past 3 months (11% average weekly change). Significant insider selling over the past 3 months (US$217k sold). Recent Insider Transactions • Jan 03
Independent Director recently sold US$69k worth of stock On the 30th of December, Theodore Shasta sold around 11k shares on-market at roughly US$6.13 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$84k. Insiders have been net sellers, collectively disposing of US$271k more than they bought in the last 12 months. Recent Insider Transactions • Nov 24
Independent Director recently sold US$84k worth of stock On the 20th of November, Richard Vaughan sold around 13k shares on-market at roughly US$6.55 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$296k more than they bought in the last 12 months. Announcement • Nov 22
MBIA Inc. to Report Q4, 2024 Results on Feb 27, 2025 MBIA Inc. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 27, 2025 Recent Insider Transactions Derivative • Nov 20
Independent Director notifies of intention to sell stock Richard Vaughan intends to sell 13k shares in the next 90 days after lodging an Intent To Sell Form on the 19th of November. If the sale is conducted around the recent share price of US$6.51, it would amount to US$83k. Since December 2023, Richard's direct individual holding has increased from 85.18k shares to 101.69k. Company insiders have collectively sold US$212k more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Nov 20
Price target increased by 23% to US$6.75 Up from US$5.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$6.58. Stock is down 10% over the past year. The company is forecast to post a net loss per share of US$9.16 next year compared to a net loss per share of US$10.04 last year. Reported Earnings • Nov 08
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: US$1.07 loss per share (improved from US$3.94 loss in 3Q 2023). Net loss: US$51.0m (loss narrowed 72% from 3Q 2023). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Janice Innis-Thompson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 16
MBIA Inc. to Report Q3, 2024 Results on Nov 07, 2024 MBIA Inc. announced that they will report Q3, 2024 results on Nov 07, 2024 Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: US$5.33 loss per share (further deteriorated from US$1.59 loss in 2Q 2023). Net loss: US$253.0m (loss widened 224% from 2Q 2023). Revenue missed analyst estimates. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 71% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Jun 18
Independent Director recently sold US$118k worth of stock On the 13th of June, Theodore Shasta sold around 21k shares on-market at roughly US$5.52 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$212k more than they bought in the last 12 months. Price Target Changed • Jun 04
Price target decreased by 8.6% to US$8.83 Down from US$9.67, the current price target is an average from 3 analysts. New target price is 56% above last closing price of US$5.68. Stock is down 33% over the past year. The company is forecast to post a net loss per share of US$5.16 next year compared to a net loss per share of US$10.04 last year. Announcement • May 24
MBIA Inc. to Report Q2, 2024 Results on Aug 06, 2024 MBIA Inc. announced that they will report Q2, 2024 results on Aug 06, 2024 Reported Earnings • May 10
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: US$1.86 loss per share (further deteriorated from US$1.66 loss in 1Q 2023). Revenue: US$12.0m (down 33% from 1Q 2023). Net loss: US$87.0m (loss widened 4.8% from 1Q 2023). Revenue missed analyst estimates by 62%. Earnings per share (EPS) also missed analyst estimates by 64%. Revenue is forecast to grow 70% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Announcement • Mar 22
MBIA Inc., Annual General Meeting, May 02, 2024 MBIA Inc., Annual General Meeting, May 02, 2024, at 10:00 US Eastern Standard Time. Agenda: To elect six Directors for a term of one year, expiring at the 2025 Annual Meeting; to consider the compensation paid to the Company's named Executive Officers; to ratify the selection of PricewaterhouseCoopers LLP, certified public accountants, as independent auditors for the Company for the year 2024; to approve the Company's Amended and Restated Omnibus Incentive Plan; and to transact any other business as may properly come before the meeting. Announcement • Mar 12
MBIA Inc. to Report Q1, 2024 Results on May 09, 2024 MBIA Inc. announced that they will report Q1, 2024 results on May 09, 2024 Announcement • Mar 10
MBIA Inc. Announces CFO Changes Effective April 30, 2024 MBIA Inc. (the Company) announced that on March 7, 2024 the Company (together with its subsidiaries) entered into a Separation Agreement with its Executive Vice President and Chief Financial Officer, Mr. Anthony McKiernan. Under the Separation Agreement, effective April 30, 2024 Mr. McKiernan will step down from his position as Chief Financial Officer and will resign from all of his other positions with the Company. Mr. Joseph Schachinger, currently the Company’s Controller, will replace Mr. McKiernan as Chief Financial Officer effective April 30, 2024. Prior to being named Controller in May of 2017, Mr. Schachinger served as Deputy Controller since 2009. Mr. Schachinger joined the Company in 2000 as a Vice President in the Controller’s Group. Reported Earnings • Feb 29
Full year 2023 earnings released: US$10.04 loss per share (vs US$2.99 loss in FY 2022) Full year 2023 results: US$10.04 loss per share (further deteriorated from US$2.99 loss in FY 2022). Net loss: US$484.0m (loss widened 225% from FY 2022). Revenue is forecast to grow 67% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Dec 29
Independent Director recently sold US$94k worth of stock On the 28th of December, Richard Vaughan sold around 15k shares on-market at roughly US$6.26 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Price Target Changed • Dec 27
Price target decreased by 21% to US$10.00 Down from US$12.67, the current price target is an average from 3 analysts. New target price is 63% above last closing price of US$6.12. Stock is down 52% over the past year. The company posted a net loss per share of US$2.99 last year. Upcoming Dividend • Dec 19
Inaugural dividend of US$8.00 per share Eligible shareholders must have bought the stock before 26 December 2023. Payment date: 22 December 2023. This is the first dividend for MBIA since going public. The average dividend yield among industry peers is 2.0%. Price Target Changed • Dec 10
Price target increased by 8.6% to US$12.67 Up from US$11.67, the current price target is an average from 3 analysts. New target price is 5.6% below last closing price of US$13.42. Stock is up 7.8% over the past year. The company posted a net loss per share of US$2.99 last year. New Risk • Dec 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 23% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$751m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Minor Risk Negative equity (-US$1.2b). Announcement • Dec 08
MBIA Inc. Declares Extraordinary Cash Dividend on Common Stock, Payable on December 22, 2023 MBIA Inc. announced that its Board of Directors declared an extraordinary cash dividend on MBIA common stock of $8.00 per share to shareholders of record as of December 18, 2023 to be paid on December 22, 2023 which totals approximately $409 million, based on 51.1 million shares outstanding. Announcement • Nov 09
MBIA Inc. to Report Q4, 2023 Results on Feb 28, 2024 MBIA Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Feb 28, 2024 New Risk • Nov 05
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$351m Forecast net loss in 1 year: US$59m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$751m free cash flow). Minor Risks Negative equity (-US$1.2b). Currently unprofitable and not forecast to become profitable next year (US$59m net loss next year). Reported Earnings • Nov 03
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$3.94 loss per share (further deteriorated from US$0.70 loss in 3Q 2022). Net loss: US$185.0m (loss widened 429% from 3Q 2022). Revenue missed analyst estimates by 75%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be US$8.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 64% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 8.1% in a year. Earnings is forecast to grow by 64% in the next year. Announcement • Aug 09
MBIA Inc. to Report Q3, 2023 Results on Nov 02, 2023 MBIA Inc. announced that they will report Q3, 2023 results After-Market on Nov 02, 2023 Price Target Changed • Aug 04
Price target decreased by 7.9% to US$11.67 Down from US$12.67, the current price target is an average from 3 analysts. New target price is 37% above last closing price of US$8.52. Stock is down 22% over the past year. The company posted a net loss per share of US$2.99 last year. Reported Earnings • Aug 03
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: US$1.59 loss per share (further deteriorated from US$0.72 loss in 2Q 2022). Net loss: US$78.0m (loss widened 117% from 2Q 2022). Revenue missed analyst estimates by 15%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Jun 22
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$159m Forecast net loss in 1 year: US$56m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$727m free cash flow). Minor Risks Negative equity (-US$899m). Currently unprofitable and not forecast to become profitable next year (US$56m net loss next year). Announcement • May 19
MBIA Inc. to Report Q2, 2023 Results on Aug 02, 2023 MBIA Inc. announced that they will report Q2, 2023 results on Aug 02, 2023 Reported Earnings • May 10
First quarter 2023 earnings released: US$1.66 loss per share (vs US$1.47 loss in 1Q 2022) First quarter 2023 results: US$1.66 loss per share (further deteriorated from US$1.47 loss in 1Q 2022). Revenue: US$18.0m (up 157% from 1Q 2022). Net loss: US$83.0m (loss widened 14% from 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Breakeven Date Change • Apr 01
Forecast to breakeven in 2023 The 2 analysts covering MBIA expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$26.0m in 2023. Earnings growth of 118% is required to achieve expected profit on schedule. Reported Earnings • Mar 01
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: US$2.99 loss per share (improved from US$9.00 loss in FY 2021). Revenue: US$150.0m (up 33% from FY 2021). Net loss: US$149.0m (loss narrowed 67% from FY 2021). Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is expected to decline by 2.8% p.a. on average during the next 2 years, while revenues in the Insurance industry in the US are expected to grow by 5.5%. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 14% per year. Buying Opportunity • Jan 05
Now 22% undervalued Over the last 90 days, the stock is up 33%. The fair value is estimated to be US$16.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 48% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 515% in a year. Earnings is forecast to grow by 89% in the next year. Announcement • Nov 23
MBIA Inc. to Report Q4, 2022 Results on Feb 28, 2023 MBIA Inc. announced that they will report Q4, 2022 results on Feb 28, 2023 Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Director Janice Innis-Thompson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings released: US$0.70 loss per share (vs US$2.48 loss in 3Q 2021) Third quarter 2022 results: US$0.70 loss per share (improved from US$2.48 loss in 3Q 2021). Net loss: US$35.0m (loss narrowed 72% from 3Q 2021). Revenue is forecast to grow 77% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 04
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: US$0.72 loss per share (up from US$1.23 loss in 2Q 2021). Revenue: US$36.0m (up 50% from 2Q 2021). Net loss: US$36.0m (loss narrowed 41% from 2Q 2021). Revenue exceeded analyst estimates by 67%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Over the next year, revenue is expected to shrink by 32% compared to a 1.1% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • May 10
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: US$1.47 loss per share (up from US$2.15 loss in 1Q 2021). Revenue: US$43.0m (up 115% from 1Q 2021). Net loss: US$73.0m (loss narrowed 31% from 1Q 2021). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates by 48%. Over the next year, revenue is forecast to grow 54% while the industry in the US is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target increased to US$15.50 Up from US$11.50, the current price target is an average from 2 analysts. New target price is 21% above last closing price of US$12.76. Stock is up 26% over the past year. The company is forecast to post a net loss per share of US$3.91 next year compared to a net loss per share of US$8.99 last year. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Director Janice Innis-Thompson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 07
Independent Director recently sold US$1.3m worth of stock On the 4th of April, Steven Gilbert sold around 85k shares on-market at roughly US$15.58 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.1m more than they bought in the last 12 months. Reported Earnings • Mar 03
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$9.00 loss per share (up from US$9.79 loss in FY 2020). Revenue: US$159.0m (down 56% from FY 2020). Net loss: US$445.0m (loss narrowed 23% from FY 2020). Revenue exceeded analyst estimates by 67%. Over the next year, revenue is expected to shrink by 38% compared to a 1.8% decline forecast for the insurance industry in the US. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Board Change • Jan 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Director Janice Innis-Thompson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 03
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Director Janice Innis-Thompson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 09
Price target increased to US$13.50 Up from US$11.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$14.18. Stock is up 127% over the past year. The company is forecast to post a net loss per share of US$5.42 next year compared to a net loss per share of US$9.78 last year. Reported Earnings • Nov 05
Third quarter 2021 earnings released: US$2.48 loss per share (vs US$1.10 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$56.0m (down 32% from 3Q 2020). Net loss: US$123.0m (loss widened 112% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Recent Insider Transactions • Aug 11
Independent Director recently sold US$313k worth of stock On the 9th of August, Richard Vaughan sold around 26k shares on-market at roughly US$11.87 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.2m more than they bought in the last 12 months. Reported Earnings • Aug 06
Second quarter 2021 earnings released: US$1.23 loss per share (vs US$1.69 loss in 2Q 2020) The company reported a soft second quarter result with weaker revenues and control over costs, although losses reduced. Second quarter 2021 results: Revenue: US$4.00m (down 97% from 2Q 2020). Net loss: US$61.0m (loss narrowed 43% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Jun 04
Independent Director notifies of intention to sell stock Steven Gilbert intends to sell 21k shares in the next 90 days after lodging an Intent To Sell Form on the 1st of June. If the sale is conducted around the recent share price of US$10.10, it would amount to US$207k. Since March 2021, Steven's direct individual holding has increased from 142.84k shares to 154.10k. Company insiders have collectively sold US$1.1m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jun 02
Independent Director recently sold US$207k worth of stock On the 28th of May, Theodore Shasta sold around 21k shares on-market at roughly US$10.00 per share. In the last 3 months, there was an even bigger sale from another insider worth US$233k. Insiders have been net sellers, collectively disposing of US$828k more than they bought in the last 12 months. Reported Earnings • May 11
First quarter 2021 earnings released: US$2.15 loss per share (vs US$4.62 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$72.0m (up 125% from 1Q 2020). Net loss: US$106.0m (loss narrowed 68% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Recent Insider Transactions • Mar 12
Independent Director recently sold US$233k worth of stock On the 9th of March, Richard Vaughan sold around 25k shares on-market at roughly US$9.45 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$752k more than they bought in the last 12 months. Reported Earnings • Mar 04
Full year 2020 earnings released: US$9.79 loss per share (vs US$4.43 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$360.0m (down 7.5% from FY 2019). Net loss: US$578.0m (loss widened 61% from FY 2019). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 79%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to decline by -71% while the Insurance industry in the US is not expected to grow. Is New 90 Day High Low • Mar 02
New 90-day high: US$7.63 The company is up 14% from its price of US$6.69 on 01 December 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: US$7.57 The company is up 18% from its price of US$6.44 on 14 October 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 16% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: US$7.20 The company is up 4.0% from its price of US$6.94 on 10 September 2020. The American market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Recent Insider Transactions • Nov 20
CEO & Director recently bought US$617k worth of stock On the 18th of November, William Fallon bought around 100k shares on-market at roughly US$6.17 per share. This was the largest purchase by an insider in the last 3 months. This was William's only on-market trade for the last 12 months. Reported Earnings • Nov 11
Third quarter 2020 earnings released: US$1.10 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: US$82.0m (down 57% from 3Q 2019). Net loss: US$58.0m (down 174% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.