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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)


☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026


☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-42707

Slide Insurance Holdings, Inc.

(Exact Name of Registrant as Specified in its Charter)


Delaware	87-1554861
( State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
4221 W. Boy Scout Blvd., Suite 200 Tampa, FL	33607
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (813) 748-2030

Securities registered pursuant to Section 12(b) of the Act:

     Title of each class

     Trading
Symbol(s)

     Name of each exchange on which registered

     Common Stock, par value $0.01 per share

     SLDE

     Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☐
Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of April 30, 2026, the registrant had 114,559,246 shares of common stock, $0.01 par value per share, outstanding.

Table of Contents


		Page

PART I.	FINANCIAL INFORMATION	1

Item 1.	Financial Statements (Unaudited)	1
	Condensed Consolidated Balance Sheets March 31, 2026 (unaudited) and December 31, 2025:	1
	Condensed Consolidated Statements of Operations three months ended March 31, 2026 and 2025 (unaudited):	2
	Condensed Consolidated Statements of Comprehensive Income three months ended March 31, 2026 and 2025 (unaudited):	3
	Condensed Consolidated Statements of Shareholders’ Equity three months ended March 31, 2026 and 2025 (unaudited):	4
	Condensed Consolidated Statements of Cash Flows three months ended March 31, 2026 and 2025 (unaudited):	5
	Notes to Unaudited Condensed Consolidated Financial Statements	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	25
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	38
Item 4.	Controls and Procedures	39

PART II.	OTHER INFORMATION	40

Item 1.	Legal Proceedings	40
Item 1A.	Risk Factors	40
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	40
Item 5.	Other Information	40
Item 6.	Exhibits	41
Signatures		42

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

Slide Insurance Holdings, Inc.

Condensed Consolidated Balance Sheets

(Dollar amounts in thousands, except per share and par value amounts)


	March 31, 2026		December 31, 2025
	(Unaudited)
ASSETS
Invested assets:
Fixed-maturity securities, available-for-sale, at estimated fair value (amortized costs: $714,152 and $580,122, respectively and allowance for credit losses: $0 and $0 respectively)	$	716,037	$	589,720
Other investments, net		4,000		4,000
Total invested assets	$	720,037	$	593,720
Cash and cash equivalents		1,217,558		1,201,210
Restricted cash		793		786
Restricted cash - variable interest entity		482,050		480,972
Accrued interest income		9,084		7,281
Assumed premiums receivable		9,124		34,290
Premiums receivable, net of allowance for credit loss of $2,723 and $3,294, respectively		69,548		90,576
Reinsurance recoverable on paid losses, net of allowance for credit loss: $0 and $0, respectively		14,779		16,183
Reinsurance recoverable on unpaid losses, net of allowance for credit loss: $0 and $0, respectively		130,999		146,128
Prepaid reinsurance premiums		82,492		202,748
Deferred income tax assets, net		20,813		18,332
Deferred policy acquisition costs		88,291		93,728
Property and equipment, net		10,948		11,585
Right-of-use lease assets, operating		8,050		8,476
Intangibles, net		30		99
Goodwill		2,603		2,603
Prepaid expenses		11,425		8,932
Other assets		3,736		816
Total assets	$	2,882,360	$	2,918,465
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Loss and loss adjustment expense reserves	$	476,258	$	439,715
Unearned premiums		934,414		1,000,611
Commissions payable		12,406		9,049
Deferred revenue		90		90
Reinsurance premiums payable		68,931		160,330
Long-term debt, net		32,386		33,687
Interest rate swap liability		16		62
Income taxes payable		117,203		93,555
Advanced premiums		66,358		30,518
Premium tax liabilities		12,101		5,075
Accounts payable and accrued expenses		23,163		19,768
Lease liabilities, operating		9,294		9,649
Other liabilities		16,128		3,115
Total liabilities	$	1,768,748	$	1,805,224
Shareholders’ equity:
Common Stock (par value $0.01, 1,500,000,000 shares authorized, 117,565,731 and 123,889,446 issued and outstanding at March 31, 2026 and December 31, 2025, respectively)		1,176		1,239
Additional paid-in capital		218,342		351,688
Accumulated other comprehensive income, net of taxes		1,418		7,165
Retained earnings		892,676		753,149
Total shareholders’ equity	$	1,113,612	$	1,113,241
Total liabilities and shareholders’ equity	$	2,882,360	$	2,918,465

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

Slide Insurance Holdings, Inc.

Condensed Consolidated Statements of Operations (Unaudited)

(Dollar amounts in thousands, except per share amounts)


	Three Months Ended March 31,
	2026			2025
Revenues:
Gross premiums written	$	414,792		$	278,249
Change in unearned premiums		66,194			72,642
Gross premiums earned		480,986			350,891
Ceded premiums earned		(115,103	)		(84,850	)
Net premiums earned		365,883			266,041
Net investment income		20,118			13,807
Policy fees		2,590			1,534
Other income		692			211
Total revenue	$	389,283		$	281,593
Expenses:
Losses and loss adjustment expenses incurred, net		111,073			83,761
Policy acquisition and other underwriting expenses		44,125			28,572
General and administrative expenses		46,173			41,378
Interest expense		852			934
Depreciation expense		1,315			1,146
Amortization expense		69			1,895
Total expenses	$	203,607		$	157,686
Net income before income tax expense		185,676			123,907
Income tax expense		46,149			31,404
Net income	$	139,527		$	92,503
Weighted average shares outstanding (in thousands)
Basic		123,342			56,600
Diluted		136,588			123,123
Earnings per share
Basic	$	1.13		$	1.63
Diluted	$	1.02		$	0.75

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

Slide Insurance Holdings, Inc.

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

(Dollar amounts in thousands)


	Three Months Ended March 31,
	2026			2025
Net income	$	139,527		$	92,503
Other comprehensive income:
Unrealized gains (losses) on securities		(7,713	)		4,638
Other comprehensive gain (loss), before tax		(7,713	)		4,638
Income tax expense on other comprehensive gain (loss) on investments		(1,966	)		1,163
Income tax expense on other comprehensive gain (loss)		(1,966	)		1,163
Other comprehensive gain (loss)		(5,747	)		3,475
Comprehensive income	$	133,780		$	95,978

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

Slide Insurance Holdings, Inc.

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited)

(Dollar amounts in thousands)


	Common Stock (a)						Preferred Stock (a)				Additional Paid-in			Retained		Accumulated Other Comprehensive			Total Shareholders’
	Shares			Amount			Shares		Amount		Capital (a)			Earnings		Income			Equity
Balance as of December 31, 2025		123,889,446		$	1,239			—	$	-	$	351,688		$	753,149	$	7,165		$	1,113,241
Exercise of vested common stock options		1,317,848			13			—		—		1,274			—		—			1,287
Vesting of rsus		137,512			1			—		—		(1	)		—		—			—
Stock-based compensation		—			—			—		—		3,079			—		—			3,079
Net income		—			—			—		—		—			139,527		—			139,527
Other comprehensive loss		—			—			—		—		—			—		(5,747	)		(5,747	)
Shares withheld for taxes (net share settlement)		(54,835	)		—			—		—		(666	)				—			(666	)
Repurchase and retirement of common stock		(7,724,240	)		(77	)		—		—		(137,032	)		—		—			(137,109	)
Balance as of March 31, 2026		117,565,731		$	1,176			—	$	-	$	218,342		$	892,676	$	1,418		$	1,113,612

Balance as of December 31, 2024		56,224,168		$	562			51,374,125	$	514	$	122,607		$	309,191	$	285		$	433,159
Exercise of vested common stock options		662,541			7			-		-		646			-		-			653
Other financing activities		—			—			—		—		(355	)		—		—			(355	)
Vesting of RSUs		6,584			—			—		—		—			—		—			—
Stock-based compensation		—			—			—		—		3,014			—		—			3,014
Net income		—			—			—		—		—			92,503		—			92,503
Other comprehensive income		—			—			—		—		—			—		3,475			3,475
Balance as of March 31, 2025		56,893,293		$	569			51,374,125	$	514	$	125,912		$	401,694	$	3,760		$	532,449

(a) All Common Stock share and related dollar information, all Preferred Stock share and related dollar information and Additional Paid-in Capital has been adjusted to reflect the 5.5-for-1 stock split effective June 18, 2025 as discussed in Note 1.

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

Slide Insurance Holdings, Inc.

Condensed Consolidated Statements of Cash Flows (Unaudited)

(Dollar amounts in thousands)


	Three Months Ended March 31,
	2026			2025
Cash flows from operating activities:
Net income	$	139,527		$	92,503
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for depreciation and amortization		1,384			3,041
Deferred income tax expense		(513	)		(7,921	)
Stock-based compensation		3,079			3,014
Amortization of deferred loan costs		199			184
Gain on sale of investments		—			(4	)
Net amortization of premiums on investments in fixed-maturity securities		(643	)		(794	)
Change in value of interest rate swap		(46	)		22
Change in operating assets and liabilities:
Accrued interest income		(1,803	)		(544	)
Premiums receivable		46,194			(13,527	)
Reinsurance recoverable on paid losses		1,404			(28,294	)
Reinsurance recoverable on unpaid losses		15,129			57,096
Prepaid reinsurance premiums		120,256			90,515
Prepaid expenses		(2,493	)		(767	)
Deferred policy acquisition costs		5,437			4,296
Other assets		(2,920	)		153
Loss and loss adjustment expense reserves		36,543			(24,307	)
Unearned premiums		(66,197	)		(72,642	)
Advanced premiums		35,840			7,831
Income taxes payable		23,648			39,337
Premium taxes payable		7,026			(1,032	)
Commissions payable		3,357			1,546
Reinsurance premiums payable		(91,399	)		(58,195	)
Accounts payable and accrued expenses		3,395			4,946
Net lease liability, net		71			7
Other liabilities		13,013			348
Net cash provided by operating activities	$	289,488		$	96,812
Cash flows from investing activities:
Purchase of fixed-maturity securities available-for-sale		(151,111	)		(7,847	)
Proceeds from maturities and redemptions of fixed-maturity securities available -for-sale		17,723			20,035
Proceeds from redemption of other investments		—			168
Purchase of property and equipment		(679	)		(588	)
Net cash used in (provided by) investing activities	$	(134,067	)	$	11,768
Cash flows from financing activities:
Proceeds from issuance of common stock		1,287			651
Other financing costs		—			(355	)
Payment of debt issuance costs		—			(295	)
Repayment of long-term debt		(1,500	)		(1,500	)
Repurchase and retirement of common stock		(137,109	)		—
Shares withheld for taxes (net share settlement)		(666	)		—
Net cash used in financing activities	$	(137,988	)	$	(1,499	)
Net increase in cash, cash equivalents and restricted cash		17,433			107,081
Cash, cash equivalents and restricted cash, beginning of period		1,682,968			789,842
Cash, cash equivalents and restricted cash, end of period	$	1,700,401		$	896,923
Supplemental disclosures of cash flow information
Cash paid during the year for:
Interest paid	$	170		$	720
Income taxes paid	$	22,512		$	—

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

Nature of Business and Significant Accounting Policies

Basis of Presentation

The accompanying unaudited consolidated financial statements for the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. As of March 31, 2026, there were no changes in the nature of our significant accounting policies or the application of those policies from those reported in our annual report for the year ended December 31, 2025. These unaudited consolidated financial statements and accompanying notes should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes for the year ended December 31, 2025.

In preparing these interim financial statements, management has made judgments and estimates about the future, including climate-related risks and opportunities, that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The significant judgments made by management in applying the Company’s accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements.

Nature of Business

Slide Insurance Holdings, Inc. (“SIH” or the “Company”) is a Delaware holding company incorporated on March 2, 2021. The Company was organized for the purpose of holding investments in operating subsidiaries engaged in property and casualty insurance activities. Subsidiaries include:

Slide Insurance Company (“SIC”) – a wholly owned property casualty insurance company currently writing homeowners insurance policies in Florida and South Carolina.

Slide MGA, LLC (“SMGA”) – a wholly owned managing general agent that performs policy processing and claims administration for SIC.

Stat Claims Company (“STAT”) – a wholly owned claims administrator.

Trusted Mitigation Contractors (“TMC”) – a wholly owned broker of contractors and loss mitigation service providers.

Slide Reinsurance Holdings, LLC (“Slide Re”) – a wholly owned reinsurance company and owner of the segregated cell (White Rock Insurance, Ltd., account T104).

Slide Technologies, LLC (“Slide Tech”) – a wholly owned subsidiary that will license software developed by the Company. This entity has not begun operations.

SJIG Target, LLC (“SJIG”) – a wholly owned non-operating entity that holds contractual renewal rights to a portion of the policies issued by SIC.

Clegg Insurance Advisors, LLC (“Homefront”) – a wholly owned insurance agency acquired by the Company during 2022.

SIH Technologies, LLP (“Slide India”) – a wholly owned non-operating entity that is in the process of being dissolved.

Slide Specialty Insurance Company (“Slide Specialty”) – a wholly owned property casualty insurance company licensed in New York, New Jersey, Rhode Island and South Carolina.

The Law Offices of Jonathan Hall, PLLC ("LOJH") - a wholly owned law firm.

SIC is domiciled in the state of Florida and is a wholly owned subsidiary of SIH. SIC was incorporated on February 17, 2022, and commenced operations on March 1, 2022, after receiving its Certificate of Authority from the Florida Department of Financial Services, Office of Insurance Regulation (the “FLOIR”). SIC provides homeowners insurance coverage to

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

policyholders in Florida and South Carolina, with Florida policyholders representing 97% of direct written premiums written for the three months ended March 31, 2026.

SIC is subject to the broad administrative powers of the FLOIR, which include, but are not limited to, limitation of dividends distributable, modification of management services and tax-sharing agreements, limitations on new and renewal business, and requirements for capital and surplus.

SIH filed its original certificate of incorporation with the Secretary of State of the State of Delaware on March 2, 2021, and was authorized to issue 40.0 million shares of common stock at par value of $0.01 per share and 20.0 million shares of preferred stock at par value of $0.01 per share, pre stock split.

The Company amended and restated its articles of incorporation on June 18, 2025, authorizing capital stock of 1.5 billion shares of common stock, par value $0.01 per share, and 150.0 million shares of preferred stock, par value $0.01 per share. As of March 31, 2026 and December 31, 2025, there were 117.6 million and 123.9 million shares of common stock outstanding, respectively, and 0 shares of preferred stock outstanding.

Stock Split

On June 18, 2025, the Company effected a 5.5-for-1 stock split of its common stock and preferred stock. All common stock and preferred stock and per share information included in the accompanying condensed consolidated financial statements and footnotes has been retroactively adjusted to reflect this unit split for all periods presented.

Completion of Initial Public Offering

On June 18, 2025, the Company closed its initial public offering ("IPO") of 24.0 million shares of its common stock, of which 16.7 million shares were sold by the Company and 7.3 million shares were sold by certain selling stockholders, at an initial public offering price of $17.00 per share for gross proceeds of $408.0 million. The Company received net proceeds of approximately $263.5 million, net of approximately $19.8 million of underwriting discounts and commissions. The Company did not receive any proceeds from the sale of shares of its common stock by selling stockholders. The Company recorded the transaction within common stock and additional paid-in capital in the condensed consolidated balance sheets as of December 31, 2025. All preferred stock was converted to common stock upon the completion of the IPO.

On June 25, 2025, the underwriters fully exercised their option to purchase an additional 3.6 million shares of common stock from certain selling stockholders of the Company. The purchase of the additional shares brought the gross proceeds from the IPO to $469.2 million. The Company did not receive any proceeds from the sale by such selling stockholders of the additional shares.

Stock Repurchase Program

On August 26, 2025, the Company's Board of Directors ("Board") authorized the 2025 Stock Repurchase Program ("repurchase program"), which allowed the Company to repurchase, from time to time, up to $75.0 million of common stock through open market repurchases in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and/or in privately negotiated transactions at management’s discretion based on market and business conditions, applicable legal requirements and other factors. On November 4, 2025, the Board authorized an increase to the repurchase program to purchase an additional $45.0 million of common stock. On March 23, 2026, the Company completed the repurchase of the $120 million shares of common stock under the repurchase program.

On March 23, 2026, the Board authorized a new stock repurchase plan, which allowed the Company to repurchase, from time to time, up to $125.0 million of common stock through open market repurchases in compliance with Rule 10b-18 under the Exchange Act and/or in privately negotiated transactions at management’s discretion based on market and business conditions, applicable legal requirements and other factors.

For the three months ended March 31, 2026, under the repurchase program and the new stock repurchase program, the Company repurchased 7,724,240 shares of common stock for $137.1 million.

Upon repurchase, the Company retired the shares of common stock. The repurchase plan has no time deadline and will continue until all authorized shares have been repurchased or otherwise modified or terminated by the Board.

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

Assumed Business

From time to time, the Company may participate in a “take-out program” through which the Company assumes insurance policies held by Citizens Property Insurance Corporation (“Citizens”), a Florida state-supported insurer. The take-out program is a legislatively mandated program designed to reduce the state’s risk exposure by encouraging private companies to assume policies from Citizens. For the three months ended March 31, 2026, the Company was approved by the FLOIR to assume a total of 101,600 policies. The approval date noted is based on the actual take-out date and not the date the Company received approval to participate from the FLOIR. For the three months ended March 31, 2026, the Company assumed approximately 28,783 policies, representing $92.3 million in annualized gross premiums.

For the three months ended March 31, 2025, the Company was approved by the FLOIR to assume a total of 176,050 policies. The approval date noted is based on the actual take-out date and not the date the Company received approval to participate from the FLOIR. For the three months ended March 31, 2025, the Company assumed approximately 12,159 policies, representing $52.5 million in annualized gross premiums. For the year ended December 31, 2025, the Company was approved by the FLOIR to assume a total of 457,150 policies from Citizens. In 2025, approximately 191,850 policies were assumed from Citizens, representing approximately $595.0 million in annualized gross written premiums related to these transactions.

Adoption of New Accounting Standard

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This update enhances income tax disclosures by requiring public entities to report income tax expense disaggregated by federal, state and foreign taxes, with further detail on specific jurisdictions over a quantitative threshold. In addition, public entities must also separately disclose reconciling items equal to or greater than five percent of pretax income from operations by the applicable federal statutory rate. ASU 2023-09 is effective for all public entities for fiscal years beginning after December 15, 2024. ASU 2023-09 was adopted by the Company effective December 31, 2025 and applied the disclosure requirements retroactively. See Note 7 Income Taxes in the accompanying notes to the condensed consolidated financial statements for further details.

Consolidation Policy

The Financial Statements include the accounts of the Company, its wholly owned subsidiaries and Variable Interest Entities (“VIEs”) in which the Company is determined to be the primary beneficiary. This analysis includes a review of the VIE’s capital structure, related contractual relationships and terms, nature of the VIE’s operations and purpose, nature of the VIE’s interests issued, and the Company’s involvement with the entity. When assessing the need to consolidate a VIE, the Company evaluates the design of the VIE as well as the related risks to which the entity was designed to expose the variable interest holders. The primary beneficiary is the entity that has both (i) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and (ii) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the Company’s decision making ability and its ability to influence activities that significantly affect the economic performance of the VIE.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates.

Segment Information

The insurance segment derives revenues from direct and assumed premiums written and premiums are earned pro rata over the terms of the policies, or remaining term of the policy for policies assumed post their origination date. Revenue is earned from policies from homeowners, which are annual policies. The accounting policies of the insurance segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker (“CODM”) assesses performance for the insurance segment and decides how to allocate resources based on net income that also is reported on the income statement as consolidated net income and EBITDA. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM uses net income and EBITDA to evaluate income generated from segment assets (return on

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

assets) in deciding whether to reinvest profits into the insurance segment or into other parts of the entity, such as for acquisitions. The significant expenses reviewed by the CODM, which are used to assess performance of the company, are not disaggregated at a level lower than the captions disclosed within the Consolidated Statement of Operations. Net income is used to monitor budget versus actual results. The CODM also uses net income and EBITDA in competitive analysis by benchmarking to the Company’s competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing performance of the segment and in establishing management’s compensation. The Company has one reportable segment: insurance. The insurance segment provides residential homeowners insurance. The Company derives all revenue in the United States of America and manages the business activities on a consolidated basis. The Company’s CODM is the Chief Executive Officer.

Accounting Pronouncements Not Yet Adopted

In November 2024, the Financial Accounting Standards Board ("FASB") issued ASU 2024-03, “Income Statement (Topic 220): Reporting Comprehensive Income - Expense Disaggregation Disclosures, Disaggregation of Income Statement Expenses,” which requires additional information about certain expenses in the financial statements. The amendments in this ASU will be effective for annual periods beginning after December 15, 2026. Early adoption is permitted and is effective on either a prospective basis or retrospective basis. The Company is currently evaluating the ASU to determine its impact on the Company's disclosures.

In September 2025, the FASB issued Accounting Standards Update ("ASU") 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The update modifies the accounting for internal-use software development costs by eliminating the stage-based model and establishing new capitalization criteria that apply once a project is authorized, funded, and it is probable the software will be completed and used as intended. The new guidance also introduces the concept of significant development uncertainty to help entities determine the appropriate timing of capitalization and integrates prior website development guidance into Accounting Standards Codification (“ASC”) 350-40. The update is effective for annual periods beginning after December 15, 2026, with early adoption permitted. The Company is currently assessing the impact of adopting this guidance and does not expect the adoption to have a material effect on its financial position or results of operations.

In December 2025, the FASB issued ASU 2025-11, "Interim Reporting (Topic 270): Narrow-Scope Improvements", which clarifies the guidance in Topic 270 to improve the consistency of interim financial reporting. The ASU provides a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-11.

The Company does not believe any of these accounting pronouncements have or will have a material impact on its condensed consolidated financial statements.

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

Basic and Diluted Earnings Per Share (shares reported in thousands)


	Three Months Ended March 31,
	2026		2025
Basic earnings per share:
Net income attributable to common stockholders	$	139,527	$	92,503
Weighted average shares outstanding		123,342		56,600
Basic earnings per share	$	1.13	$	1.63
Diluted earnings per share:
Net income attributable to common stockholders	$	139,527	$	92,503
Weighted average shares outstanding		123,342		56,600
Add effect of dilutive securities
Impact of convertible preferred stock		—		51,374
Impact of vested and unvested common stock options		12,053		13,024
Impact of RSU awards		1,193		2,125
Diluted weighted average common shares outstanding		136,588		123,123
Diluted earnings per share	$	1.02	$	0.75

The Company does not have any anti-dilutive shares for the three months ended March 31, 2026 and 2025, respectively.

Fixed-Maturity Securities Available-For-Sale

The amortized cost, gross unrealized gains and losses, and estimated fair value of investments in fixed-maturity securities available-for-sale at March 31, 2026 and December 31, 2025, are as follows:


	March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government and agencies	$	172,630	$	1,075	$	(297	)	$	173,408
States, municipalities and political subdivisions		223,641		2,431		(890	)	$	225,182
Corporate Bonds		241,109		2,169		(2,127	)	$	241,151
Asset-Backed Securities		76,772		81		(557	)	$	76,296
	$	714,152	$	5,756	$	(3,871	)	$	716,037


	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government and agencies	$	155,600	$	2,011	$	(36	)	$	157,575
States, municipalities and political subdivisions		203,485		3,948		(159	)	$	207,274
Corporate Bonds		171,501		3,689		(183	)	$	175,007
Asset-Backed Securities		49,536		333		(5	)	$	49,864
	$	580,122	$	9,981	$	(383	)	$	589,720

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

The amortized cost and estimated fair value of investments in fixed-maturity securities at March 31, 2026 and December 31, 2025, by contractual maturity, are shown below.


	March 31, 2026				December 31, 2025
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
In one year or less	$	49,006	$	49,166	$	48,155	$	48,353
After one year through five years		324,938		328,561		303,205		309,550
After five years through 10 years		239,871		238,817		165,622		168,346
After 10 years		100,337		99,493		63,140		63,471
	$	714,152	$	716,037	$	580,122	$	589,720

Actual maturities may differ from contractual maturities, as the issuers of the securities may have the right to call or prepay obligations with or without penalty.

The following tables show the estimated fair value and gross unrealized losses of the Company's investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2026.


	March 31, 2026
	Less than 12 months					More than 12 months					Total
	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
U.S. government and agencies	$	42,309	$	(287	)	$	1,235	$	(10	)	$	43,544	$	(297	)
States, municipalities and political subdivisions		63,701		(829	)		2,482		(61	)		66,183		(890	)
Corporate Bonds		126,179		(2,124	)		746		(3	)		126,925		(2,127	)
Asset-Backed Securities		62,303		(557	)		—		—			62,303		(557	)
	$	294,492	$	(3,797	)	$	4,463	$	(74	)	$	298,955	$	(3,871	)

A total of 139 securities had unrealized losses at March 31, 2026. The Company’s unrealized losses relate to its portfolio of fixed-maturity securities. The Company’s unrealized losses on its fixed maturity securities were caused by interest rate changes. The Company regularly reviews its individual investment securities for credit impairment. The Company considers various factors in determining whether a credit loss exists for each individual security, including:

•

the financial condition and near-term prospects of the issuer, including any specific events that may affect its operations or earnings;

•

the extent to which the market value of the security has been below its cost or amortized cost;

•

general market conditions and industry or sector specific factors and other qualitative factors;

•

nonpayment by the issuer of its contractually obligated interest and principal payments; and

•

the Company’s intent and ability to hold the investment for a period of time sufficient to allow for the recovery of costs.

For the three months ended March 31, 2026, the Company did not recognize a credit loss expense related to fixed-maturity securities in the consolidated statements of income.

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)


	December 31, 2025
	Less than 12 months					More than 12 months					Total
	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
U.S. government and agencies	$	15,712	$	(28	)	$	1,733	$	(8	)	$	17,445	$	(36	)
States, municipalities and political subdivisions		26,538		(133	)		2,518		(26	)		29,056		(159	)
Corporate Bonds		38,937		(180	)		1,241		(3	)		40,178		(183	)
Asset-Backed Securities		2,439		(5	)		—		0			2,439		(5	)
	$	83,626	$	(346	)	$	5,492	$	(37	)	$	89,118	$	(383	)

A total of 61 securities had unrealized losses at December 31, 2025. The Company’s unrealized losses relate to its portfolio of fixed-maturity securities. The Company’s unrealized losses on its fixed-maturity securities were caused by interest rate changes. The Company regularly reviews its individual investment securities for credit impairment. The Company considers various factors in determining whether a credit loss exists for each individual security, including:

•

the financial condition and near-term prospects of the issuer, including any specific events that may affect its operations or earnings;

•

the extent to which the market value of the security has been below its cost or amortized cost;

•

general market conditions and industry or sector specific factors and other qualitative factors;

•

nonpayment by the issuer of its contractually obligated interest and principal payments; and

•

the Company’s intent and ability to hold the investment for a period of time sufficient to allow for the recovery of costs.

For the year ended December 31, 2025, the Company did not recognize a credit loss expense related to fixed-maturity securities in the consolidated statements of income.

Proceeds from maturities, and redemptions of fixed-maturities securities were $17,723 and $20,035 for the three months ended March 31, 2026 and 2025, respectively, with realized gross gains of $0 and $4 on these sales, maturities, and redemptions respectively.

At March 31, 2026 and December 31, 2025, the Company had restricted cash of $485,359 and $481,758, respectively, consisting of funds on deposit with regulatory authorities, as required by law and funds held in trust by the VIE where the Company is the primary beneficiary.

Major categories of net investment income, excluding realized gains, are summarized as follows:


	Three Months Ended March 31,
	2026		2025
Income:
Available-for-sale fixed-maturity securities	$	8,027	$	5,503
Cash and cash equivalents		12,316		8,398
Other investments		100		120
Total investment income	$	20,443	$	14,021
Investment expenses		325		214
Net investment income	$	20,118	$	13,807

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

Fair Value of Financial Assets and Liabilities

Valuation Hierarchy

The FASB established a valuation hierarchy for disclosure of the inputs used to measure estimated fair value. This hierarchy categorizes the inputs into three broad levels as follows:

•

Level 1 inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets or liabilities.

•

Level 2 inputs to the valuation methodology are quoted prices for similar assets or liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument.

•

Level 3 inputs are unobservable inputs that are supported by little or no market activity and are significant to the determination of estimated fair value of the assets or liabilities. Unobservable inputs reflect the entity’s assumptions about the assumptions that market participants would use in pricing the asset or liability.

The following table presents by level the financial assets carried at estimated fair value measured on a recurring basis as of March 31, 2026 and December 31, 2025. The table does not include assets which are measured at historical cost or any basis other than estimated fair value.


	March 31, 2026
	Carrying Value		Level 1		Level 2		Level 3		Estimated Fair Value
Assets:
Cash and cash equivalents	$	1,217,558	$	1,217,558	$	—	$	—	$	1,217,558
Restricted cash		793		793		—		—		793
Restricted cash - variable interest entity		482,050		482,050		—		—		482,050
Fixed-maturity securities		714,152		394,742		321,295		—		716,037
	$	2,414,553	$	2,095,143	$	321,295	$	—	$	2,416,438
Liabilities:
Interest rate swap	$	16	$	—	$	—	$	16	$	16


	December 31, 2025
	Carrying Value		Level 1		Level 2		Level 3		Estimated Fair Value
Assets:
Cash and cash equivalents	$	1,201,210	$	1,201,210	$	—	$	—	$	1,201,210
Restricted cash		786		786		—		—		786
Restricted cash - variable interest entity		480,972		480,972		—		—		480,972
Fixed-maturity securities		580,122		317,620		272,100		—		589,720
	$	2,263,090	$	2,000,588	$	272,100	$	—	$	2,272,688
Liabilities:
Interest rate swap	$	62	$	—	$	—	$	62	$	62

A financial instrument’s classification within the valuation hierarchy is based upon the lowest level of input that is significant to the estimated fair value measurement; consequently, if there are multiple significant valuation inputs that are categorized in different levels of the hierarchy, the instrument’s hierarchy level is the lowest level within which any significant input falls.

The Level 1 category includes cash and cash equivalents, restricted cash, money market securities, certificates of deposit, U.S. treasury bonds, and corporate bonds.

The Level 2 category generally includes municipal bonds and asset-backed securities. The estimated fair value of fixed-maturity investments included in the Level 2 category was based on the market values obtained from pricing services.

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

When observable inputs are not available, the market standard valuation methodologies for determining the estimated fair value of certain types of securities that trade infrequently, and therefore have little or no price transparency, rely on inputs that are significant to the estimated fair value that are not observable in the market, or which cannot be derived principally from or corroborated by observable market data. These unobservable inputs can be based in large part on management’s judgment or estimation and cannot be supported by reference or market activity. Generally, these investments are classified as Level 3.

Other Financial Instruments

The Company uses various financial instruments in the normal course of its business. In the measurement of the estimated fair value of certain financial instruments, other valuation techniques were utilized if quoted market prices were not available. These derived fair value estimates are significantly affected by the assumptions used. Additionally, excluded from the scope of financial instruments are certain financial instruments, including those related to insurance contracts, pension and other postretirement benefits, and equity method investments.

In estimating the fair value of the financial instruments presented, the Company used the following methods and assumptions:

Cash and Cash equivalents

The carrying amount is a reasonable estimate of fair value, due to the short-term maturity of these investments. These assets are considered to be Level 1 assets.

Restricted cash

Restricted cash represents cash held by state authorities and the carrying value approximates fair value. Restricted cash also includes cash held in trust by the VIE where the Company is the primary beneficiary and the carrying value approximates fair value. These assets are considered to be Level 1 assets.

Fixed-Maturity Securities

Fixed-Maturity securities represent investments held at fair value in U.S. government and agencies, municipalities and political subdivisions, corporate bonds, states, and asset-backed securities. U.S. government and agencies bonds and corporate bonds are considered to be Level 1 assets due to readily available pricing. Municipalities and political subdivisions, corporate bonds, states, and asset-backed securities are considered to be Level 2 assets due to valuations based on observable inputs.

Long-Term Debt

The following table summarizes components of the Company’s long-term debt and methods used in estimating their fair values:


	Maturity Date	Valuation Methodology
Promissory Notes, 0.00%	2027	Discounted cash flow method, Level 3 inputs
Commercial Loan, variable rate of interest	2029	Discounted cash flow method, Level 3 inputs

The following tables present fair value information for liabilities that are carried on the condensed consolidated balance sheets at amounts other than fair value as of March 31, 2026 and December 31, 2025:


	Fair Value Measurements Using
As of March 31, 2026	Carrying Value			Level 1		Level 2		Level 3			Estimated Fair Value
Financial Liabilities:
Long-Term debt:
0.00% Promissory notes	$	2,000		$	—	$	—	$	2,335		$	2,335
Commercial Loan		33,000			—		—		28,437			28,437
Less: unamortized issuance costs		(2,614	)		—		—		(2,614	)		(2,614	)
	$	32,386		$	—	$	—	$	28,158		$	28,158

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)


	Fair Value Measurements Using
As of December 31, 2025	Carrying Value			Level 1		Level 2		Level 3			Estimated Fair Value
Financial Liabilities:
Long-Term debt:
0.00% Promissory notes	$	2,500		$	—	$	—	$	2,775		$	2,775
Commercial Loan		34,000			—		—		30,088			30,088
Less: unamortized issuance costs		(2,813	)		—		—		(2,813	)		(2,813	)
	$	33,687		$	—	$	—	$	30,050		$	30,050

Deferred Policy Acquisition Costs

Deferred policy acquisition costs consist of amounts paid for commissions and premium taxes that relate directly to and vary directly with the production of new and renewal business.

The policy acquisition costs that the Company has capitalized and is amortizing over the effective periods of the related policies are as follows for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
	March 31, 2026			March 31, 2025
Beginning balance	$	93,728		$	65,046
Policy acquisition costs deferred		38,688			24,276
Less: Amortization		(44,125	)		(28,572	)
Ending balance	$	88,291		$	60,750

Loss and Loss Adjustment Expenses

The Company establishes reserves for the estimated total unpaid costs of Loss and loss adjustment expenses (“LAE”). Loss and LAE reserves reflect management’s best estimate of the total cost of (i) claims that have been incurred, but not yet paid in full, and (ii) claims that have been incurred but not yet reported to the Company (“IBNR”). Reserves established by management represent an estimate of the outcome of future events and, as such, cannot be considered an exact calculation of our liability. Rather, loss and LAE reserves represent management’s best estimate of the Company’s liability based on the application of actuarial techniques and other projection methodologies and taking into consideration other facts and circumstances known at the balance sheet date. The process of establishing loss and LAE reserves is complex and inherently imprecise, as it involves the estimation of the outcome of future uncertain events. The impact of both internal and external variables on ultimate losses and LAE costs is difficult to estimate. In determining loss and LAE reserves, the Company gives careful consideration to all available data and actuarial analyses.

The Company primarily writes insurance in states which could be exposed to hurricanes or other natural catastrophes. The occurrence of a major catastrophe could have a significant effect on the Company’s results and cause a temporary disruption of the normal operations of the Company. However, the Company is unable to predict the frequency or severity of any such events that may occur in the near term or thereafter.

Slide Insurance Holdings, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Dollar amounts in thousands, except share and per share amounts, unless otherwise stated)

Activity related to the loss and LAE reserves are summarized as follows:


	Three Months Ended March 31,
	2026		2025
Balances, beginning of period	$	439,715	$	595,487
Less reinsurance recoverables		146,128		341,051
Net balances, beginning of period		293,587		254,436
Incurred related to:
Current year		111,073		91,018
Prior years		—		(7,257	)
Total incurred	$	111,073	$	83,761
Paid related to:
Current year		23,810		5,119

Slide Insurance Holdings, Inc. 10-Q