ARX Accelerant Holdings

Overview and Growth

In fiscal 2025, Accelerant Holdings recorded $912.90M of revenue, net loss of $1.43B, and an operating cash inflow of $445.10M. At $912.90M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $602.60M in fiscal 2024, revenue recorded a 51.5% year-over-year increase. On a per-share basis, diluted EPS was -$7.49, which connects the reported earnings outcome with the company’s diluted share count. The diluted weighted-average share count was 190.26M, linking total earnings with the per-share result received by shareholders. Diluted shares moved 4.7% from 199.66M in fiscal 2024, leaving the current share base lower year over year. Total assets stood at $8.26B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 0.11x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The company ended the period with a net loss of $1.43B, extending the operating result through all remaining items. The net loss equaled 156.1% of revenue, showing the bottom-line deficit relative to the company’s sales base. Before income taxes, the company recorded a loss of $1.32B, bridging the operating result to the final net loss. Measured against revenue, the pretax deficit represented 144.8%. The reported income-tax provision was $23.30M, the amount recognized between pretax income and the final net-income result. The net loss equaled 196.2% of period-end equity, showing the deficit relative to book capital. The net loss equaled 17.2% of period-end assets, showing the deficit relative to the asset base. The company moved from fiscal 2024 net income of $27.20M to a current net loss of $1.43B.

Liquidity and Capital Structure

Total assets were $8.26B, supported by $7.54B of liabilities and $726.40M of shareholder equity. Reported cash and equivalents were $1.72B, separating immediately recognizable cash resources from the rest of the current-asset base. The company carried $121.30M of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 0.17x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 1.5%, comparing borrowing with the total asset balance. Equity equaled 8.8% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 91.2%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 20.8% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 35.6% higher than fiscal 2024 assets of $6.09B, measuring the company’s own balance-sheet change. Against $322.60M of equity in fiscal 2024, the current book-equity balance moved 125.2% and ended higher. Cash and equivalents were 40.0% higher than fiscal 2024 cash of $1.23B, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was $445.10M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow of $445.10M finished below fiscal 2024 operating cash flow of $785.70M, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.