Accelerant
Connects specialist underwriters with risk-capital partners through a data-driven insurance exchange.
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Profile
Connects specialist underwriters, called Members, with risk-capital partners through a data-driven specialty-insurance exchange. Its platform shares and validates data to support monitoring across a network that expanded beyond Europe.
Specialist underwriters, known as Members, access risk capacity through a data-driven exchange that connects them with risk-capital partners. The company began with a technology-enabled capacity solution for MGAs in Europe and expanded into the United States, Canada and Australia.
Exchange services ingest, validate and transform data for automated monitoring and real-time insights. Mission and Reserv are part of the platform, while Flywheel Re serves as a reinsurance sidecar.
Sharing high-fidelity data is central to reducing information asymmetries between participants. The exchange depends on aligned incentives among its specialist underwriters and risk-capital partners.
Company facts
Categories
Key statistics
Year to date +26.5% · Average volume (30d) 5.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Raymond James | Downgrade | Outperform | Market Perform | ||
| Aug 14, 2026 | RBC Capital | Downgrade | Outperform | Sector Perform | $18 | $20.25 |
| Aug 14, 2026 | Citizens | Downgrade | Market Outperform | Market Perform | ||
| Aug 13, 2026 | Citigroup | Downgrade | Outperform | Market Perform | ||
| Aug 13, 2026 | Piper Sandler | Downgrade | Overweight | Neutral | $19 | $20.25 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | $0.16 | $0.32 | +96.4% | $279.2M | $356.9M | +27.8% | +43.35% |
| May 13, 2026Q1 FY26 | $0.16 | $0.17 | +6.3% | $244.6M | $273.3M | +11.8% | +16.60% |
| Mar 18, 2026Q4 FY25 | $0.16 | $0.23 | +43.8% | $252.4M | $248.4M | −1.6% | +4.46% |
| Nov 12, 2025Q3 FY25 | $0.22 | $0.38 | +75.9% | $253.5M | $267.4M | +5.5% | +9.21% |
Financial highlights
| 11 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $170.7M | $204.2M | $280.7M | $209.4M | $192.8M | $356.9M | |
| Gross profit | $108.4M | $134.7M | $207.1M | $130.5M | $111.0M | $250.4M | |
| Operating income | $15.5M | $22.3M | −$1.36B | −$2.2M | $2.0M | $59.3M | |
| Net income | $6.5M | $8.8M | −$1.37B | −$600.0K | −$5.2M | $78.7M | |
| Diluted EPS | $0.03 | $0.04 | −$6.99 | −$0.00 | −$0.02 | $0.35 | |
| Gross margin | 63.5% | 66.0% | 73.8% | 62.3% | 57.6% | 70.2% | |
| Operating margin | 9.1% | 10.9% | -483.6% | -1.1% | 1.0% | 16.6% |
Fiscal years (4-quarter sums)FY24 $579.6M · FY25 $865.0M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.74B · Total debt $120.1M · Total assets $8.94B · Shareholders' equity $717.4M
Dividends
No dividends on record.
Ownership
Shares outstanding 218.20M · Float 55.79M · 25.6% free float
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| ACP Accelerant Holdings, L.P. | 85.98M | 42.90% | 13G | Nov 14, 2025 |
| Jeffrey L. Radke · director, 10 percent owner, officer: Co-Founder, CEO | 27.93M | 12.80% | Form 4 | Aug 11, 2026 |
| Christopher Lee-Smith · director, officer: Co-Founder, Head of Distrib. | 17.78M | 8.15% | Form 4 | Mar 20, 2026 |
| Francis James ONeill · officer: Co-Founder, Chief U/W Officer | 8.08M | 3.70% | Form 4 | Aug 12, 2026 |
| Security Benefit Life Insurance Co /KS/ | 5.87M | 2.69% | 13F | May 4, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Karen Sue Meriwether | director | −542 | $19.62 |
| Aug 13, 2026 | Nancy Hasley | director | −20,489 | $19.56 |
| Aug 11, 2026 | Francis James ONeill | officer: Co-Founder, Chief U/W Officer | −89,219 | $12.41 |
| Aug 10, 2026 | Francis James ONeill | officer: Co-Founder, Chief U/W Officer | −63,616 | $12.07 |
| Aug 10, 2026 | Jeffrey L. Radke | director, 10 percent owner, officer: Co-Founder, CEO | −80,000 | $12.09 |
Peers
- Markel Group
Program-carrier capacity and fronting through State National
- Skyward Specialty
Specialty-program underwriting capacity for commercial risks
- Ryan Specialty
Delegated underwriting and specialty-insurance distribution
- Kinsale Capital Group
E&S underwriting capacity for hard-to-place risks
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Accelerant | $19.73 | −0.05% | $4.31B | — | 22.9 | 4.1 | +74.8% |
| Markel Group | $1,818.69 | −0.07% | $22.53B | 10.0 | 15.8 | 1.3 | +17.6% |
| Skyward Specialty | $58.29 | −0.03% | $2.36B | 13.6 | 11.3 | 1.4 | +130.9% |
| Ryan Specialty | $43.63 | −0.52% | $5.68B | 56.4 | 19.2 | 1.8 | +7.2% |
| Kinsale Capital Group | $385.00 | +1.13% | $8.67B | 15.4 | 18.1 | 4.3 | −3.7% |
| Median | 14.5 | 17.0 | 1.6 | +12.4% |