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Verisk Reports First-Quarter 2025 Financial Results

• First quarter听revenue听of听$753 million, up听7.0%,听and up 7.9% on an organic constant currency (OCC) basis.
• Net income of听$232听尘颈濒濒颈辞苍, up 5.9%.
• Adjusted EBITDA, a non-GAAP measure, of听$417 million, up听9.5%, and up 9.5% on an听OCC basis.
• Diluted GAAP earnings per share听of $1.65, up听8.6%.
• Diluted adjusted EPS, a non-GAAP measure,听of听$1.73, up 6.1%.

JERSEY CITY, N.J., May 07, 2025 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, today announced results for the first quarter ended March 31, 2025. The earnings release is available on the company鈥檚 Investor Relations website at .

Lee Shavel, President and CEO, Verisk:
鈥淚 am pleased to share that 2025 is off to a solid start at Verisk as we delivered broad-based top line growth across underwriting and claims and healthy profit growth. In an increasingly uncertain risk environment, we are keenly focused on supporting our clients with more insights and solutions that drive efficiency and automation to improve their operations. We continue to build on our role as a听key strategic partner for the industry, investing in听invention and innovation听that moves the industry forward and creates long term value for clients and shareholders alike."

Elizabeth Mann, CFO, Verisk:
鈥淰erisk delivered organic constant currency revenue growth of 7.9% and organic constant currency adjusted EBITDA growth of 9.5% in the听first quarter of 2025. We returned over $250 million to shareholders through dividends and repurchases while continuing to invest in our business, demonstrating confidence in our resilient business model and the strength of our balance sheet. To that end, we are reiterating our financial guidance for 2025."

Financial Highlights
Summary of Results (GAAP and Non-GAAP) from Continuing Operations
(in millions, except per share amounts)
Note: Adjusted EBITDA, diluted adjusted EPS, and free cash flow are non-GAAP measures.
听

Revenue
($ in millions)
Note: OCC revenue growth is a non-GAAP measure. See 鈥淣on-GAAP Reconciliations鈥� below for a reconciliation to the nearest GAAP measure.
*During the first quarter of 2025, an immaterial component of our Insurance segment was transferred from Claims to Underwriting in calculating the OCC change percentage. The transfer has no impact on the OCC growth rates for our Insurance Segment.

• Underwriting revenues increased听6.8% in the quarter and听7.2% on an OCC basis, primarily due to our forms, rules and loss cost services and extreme event solutions. Specialty business and life solutions also contributed to the growth.听On December 2, 2024, we sold Atmospheric and Environmental Research ("AER"), which was a business within Underwriting.听AER is included in our revenue from disposition.
• Claims revenues grew 7.5% in the quarter听and 9.6% on an OCC basis, primarily due to growth in our property estimating solutions and anti-fraud solutions.

Net Income, Adjusted EBITDA and听Adjusted EBITDA Margin
($ in millions)
Note: Adjusted EBITDA is a non-GAAP measure. Margin is calculated as a percentage of revenues. See 鈥淣on-GAAP Reconciliations鈥� below for a reconciliation to the nearest GAAP measure.

• Net income was听$232 million, an increase of听5.9%听in the quarter.

• The increase in net income of 5.9% reflects strong operational performance, partially offset by a higher provision for income taxes, interest expense and depreciation expense.
• Adjusted EBITDA increased听9.5%听on an OCC basis, primarily due to operating leverage on the solid听revenue growth and cost discipline.

Diluted Earnings Per Share
Note: Adjusted earnings per share听is a non-GAAP measure. See 鈥淣on-GAAP Reconciliations鈥� below for a reconciliation to the nearest GAAP measure.

• Diluted EPS increased听8.6% in听the quarter, reflecting strong operational performance and a lower听share count, partially offset by a higher provision for income taxes, interest expense and depreciation expense.
• Diluted adjusted EPS increased听6.1%, reflecting strong operational performance and a lower average听share count, partially offset by a higher provision for income taxes, interest expense and depreciation expense.

Cash Flow and Capital Return
($ in millions)
Note: Free cash flow听is a non-GAAP measure. See 鈥淣on-GAAP Reconciliations鈥� below for a reconciliation to the nearest GAAP measure.

• Net cash provided by operating activities grew听19.5% in the quarter, while free cash flow increased 23.3%.
• Free cash flow growth was driven听by听an increase in operating profit听and a听federal tax refund received in the quarter, partially offset by the timing of certain听cash payments throughout the quarter.
  

• On March 31, 2025, we paid a cash dividend of 45 cents per share of common stock issued and outstanding to the holders of record as of March 14, 2025.
• On April 30, 2025, our Board of Directors approved a cash dividend of 45 cents per share of common stock issued and outstanding. The dividend is payable on June 30, 2025, to holders as of June 13, 2025.
• During the first quarter, we initiated a $200 million Accelerated Share Repurchase program, which was completed in April听2025, resulting in the purchase of 0.7 million shares, at an average price, less a discount,听of $288.09. As of March 31, 2025, we had $1.4听billion听remaining under our share repurchase authorization.

Full Year 2025 Outlook

Conference Call

Our management team will host a live audio webcast to discuss the financial results and business highlights on Wednesday, May 7, 2025, at 8:30听a.m. EDT (5:30听a.m. PDT, 12:30听p.m. GMT). All interested parties are invited to listen to the live event via webcast on our investor website at听http://investor.verisk.com. The discussion will also be available through dial-in number 800-715-9871 for U.S./Canada participants or 646-307-1963 for international participants.

A replay of the webcast will be available for 30 days on our investor website and through the conference call number 800-770-2030听for U.S./Canada participants or 647-362-9199听for international participants using Conference ID #1730953.

About Verisk

Verisk is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability听and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by听Great Place to Work听and fosters an听inclusive culture听where all team members feel they belong.

Verisk is traded on the Nasdaq exchange and is a part of the S&P 500 Index and the Nasdaq-100 Index.

For more information, please visit www.verisk.com.

Contact:

Investor Relations
Stacey Brodbar
Head of Investor Relations
Verisk听
201-469-4327听
[email protected]

Media
Alberto Canal
Verisk Public Relations
201-469-2618
[email protected]

Forward-Looking Statements

This release contains forward-looking statements, including those related to our financial guidance.听These statements听relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. This includes, but is not limited to, our听expectation and ability to pay a cash dividend on our听common stock in the future, subject to the determination by our听Board of Directors and based on an evaluation of our earnings, financial condition and requirements, business conditions, capital allocation determinations, and other factors, risks, and uncertainties. In some cases, you can identify forward-looking statements by the use of words such as 鈥渕ay,鈥� 鈥渃ould,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥渢arget,鈥� 鈥渟eek,鈥� 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥減redict,鈥� 鈥減otential,鈥� or 鈥渃ontinue鈥� or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements, because they involve known and unknown risks, uncertainties, and other factors that are, in some cases, beyond our control and that could materially affect actual results, levels of activity, performance or achievements.

Other factors that could materially affect actual results, levels of activity, performance, or achievements can be found in our quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K filed with the Securities and Exchange Commission. If any of these risks or uncertainties materialize or if our underlying assumptions prove to be incorrect, actual results may vary significantly from what we projected. Any forward-looking statement in this release reflects our current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to our operations, results of operations, growth strategy, and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise except as required by law.

Notes Regarding the Use of Non-GAAP Financial Measures

We have听provided certain non-GAAP financial information as supplemental information regarding our听operating results. These measures are not in accordance with, or an alternative for, U.S. GAAP and may be different from non-GAAP measures reported by other companies. We believe听that our听presentation of non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. In addition, our management uses these measures for reviewing our financial results,听for budgeting and planning purposes, and for evaluating the performance of senior management.

EBITDA, Adjusted EBITDA, and Adjusted EBITDA Expenses: EBITDA represents GAAP net income adjusted for (i) depreciation and amortization of fixed assets; (ii) amortization of intangible assets; (iii) interest expense, net; and (iv) provision for income taxes. Adjusted EBITDA represents EBITDA adjusted for acquisition-related adjustments听(earn-outs), gain/loss from dispositions (which includes businesses held for sale), and nonrecurring gain/loss. Adjusted EBITDA expenses represent adjusted EBITDA net of revenues. We believe听these measures are useful and meaningful because they help us allocate resources, make business decisions, allow for greater transparency regarding our operating performance, and facilitate period-to-period comparison.

Adjusted Net Income and Diluted Adjusted EPS: Adjusted net income represents GAAP net income adjusted for (i) amortization of intangible assets, net of tax; (ii) acquisition-related adjustments听(earn-outs), net of tax; (iii) gain/loss from dispositions (which includes businesses held for sale), net of tax; and (iv) nonrecurring gain/loss, net of tax. Diluted adjusted EPS represents adjusted net income divided by weighted-average diluted shares. We believe听these measures are useful and meaningful because they allow evaluation of the after-tax profitability of our听results excluding the after-tax effect of acquisition-related costs and nonrecurring items.

Free Cash Flow: Free cash flow represents net cash provided by operating activities determined in accordance with GAAP minus payments for capital expenditures. We believe听free cash flow is an important measure of the recurring cash generated by our operations that may be available to repay debt obligations, repurchase our stock, invest in future growth through new business development activities, or make acquisitions.

Organic: Organic is defined as operating results excluding the effect of recent acquisitions and dispositions (which include businesses held for sale), and nonrecurring gain/loss associated with cost-based and equity-method investments听that have occurred over the past year.听An acquisition is included as organic at the beginning of the calendar quarter that occurs subsequent to the one-year anniversary of the acquisition date.听Once an acquisition is included in its current-period organic base, its comparable prior-year-period operating results are also included to calculate organic growth. A disposition (which includes a business held for sale) is excluded from organic at the beginning of the calendar quarter in which the disposition occurs (or when a business meets the held-for-sale criteria under U.S. GAAP).听Once a disposition is excluded from its current-period organic base, its comparable prior-year-period operating results are also excluded to calculate organic growth. We believe the organic presentation enables investors to assess the growth of the business without the impact of recent acquisitions for which there is no prior-year comparison and the impact of recent dispositions, for which results are removed from all prior periods presented to allow for comparability.

Organic Constant Currency (OCC) Growth Rate: Our operating results, such as, but not limited to, revenue and adjusted EBITDA, reported in U.S. dollars are affected by foreign currency exchange rate fluctuations because the underlying foreign currencies in which we听transact听changes in value over time compared with the U.S. dollar.听Accordingly, we听present听certain constant currency financial information to assess how we performed excluding the impact of foreign currency exchange rate fluctuations.听We calculate听constant currency by translating comparable prior-year-period results at the currency exchange rates used in the current period. We believe听organic constant currency is a useful and meaningful measure to enhance investors鈥� understanding of the continuing operating performance of our听business and to facilitate the comparison of period-to-period performance because it excludes the impact of foreign exchange rate movements, acquisitions, and dispositions.

See page 11听for a reconciliation of consolidated adjusted EBITDA听and a results summary and a reconciliation of adjusted EBITDA.听See page 11听for听a reconciliation of adjusted EBITDA margin,听a reconciliation of adjusted EBITDA expenses, and a reconciliation of diluted adjusted EPS. See page 12听for听a reconciliation of net cash provided by operating activities to free cash flow.

We are not able to provide a reconciliation of projected Adjusted EBITDA,听Adjusted EBITDA margin, and Diluted Adjusted EPS听to the most directly comparable expected GAAP results because of the unreasonable effort and high unpredictability of estimating certain items that are excluded from non-GAAP Adjusted EBITDA, Adjusted EBITDA margin, and Diluted Adjusted EPS,听including, for example, tax consequences, acquisition-related costs, gain/loss from dispositions and other non-recurring expenses, the effect of which may be significant.

Attached Financial Statements

Please refer to the full Form 10-Q filing for the complete financial statements and related notes.

VERISK ANALYTICS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
As of March 31, 2025听and December 31, 2024

VERISK ANALYTICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
For the Three Months Ended听March 31, 2025 and 2024

VERISK ANALYTICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the Three听Ended听March 31, 2025 and 2024

Non-GAAP Reconciliations

Consolidated EBITDA, Adjusted EBITDA,听Adjusted EBITDA Margin Reconciliation, and Organic Adjusted EBITDA听Reconciliation from Continuing Operations
(in millions)
Note: EBITDA, adjusted EBITDA, adjusted EBITDA margin, and organic adjusted EBITDA are听non-GAAP measures. Margin is calculated as a percentage of revenues.

Results Summary, EBITDA and听Adjusted EBITDA Reconciliation
(in millions)
Note: Organic revenues, EBITDA, adjusted EBITDA, and organic adjusted EBITDA are non-GAAP measures.

Consolidated Adjusted EBITDA Expense Reconciliation
(in millions)
Note: Adjusted EBITDA expenses are a non-GAAP measure.

Diluted Adjusted EPS Reconciliation
(in millions, except per share amounts)
Note: Diluted adjusted EPS is a non-GAAP measure.

Free Cash Flow Reconciliation
(in millions)
Note: Free cash flow is a non-GAAP measure.

Investor Relations
Stacey Brodbar
Head of Investor Relations
Verisk听
201-469-4327听
[email protected]

Media
Alberto Canal
Verisk Public Relations
201-469-2618
[email protected]