American Coastal Insurance Corporation Reports Financial Results for Its Third Quarter Ended September 30, 2025

Company to Host Quarterly Conference Call at 5:00 P.M. ET on November 5, 2025The information in this press release should be read in conjunction with an earnings presentation that is available on the Company's website at investors.amcoastal.com/events-and-presentations. ST. PETERSBURG, Fla., Nov. 05, 2025 (GLOBE NEWSWIRE) -- American Coastal Insurance Corporation (Nasdaq: ACIC) ("ACIC" or the "Company"), a property and casualty insurance holding company, today reported its financial results for the third quarter ended September 30, 2025. ($ in thousands, except for per share data)Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 Change 2025 2024 Change Gross premiums written$71,812 $93,016 (22.8)% $498,010 $507,066 (1.8)%Gross premiums earned 162,757 160,178 1.6% 490,318 475,898 3.0%Net premiums earned 80,818 74,486 8.5% 227,533 200,498 13.5%Total revenue 90,395 82,136 10.1% 249,064 217,390 14.6%Income from continuing operations, net of tax 32,483 27,669 17.4% 80,231 70,451 13.9%Income from discontinued operations, net of tax — 450 NM 42 321 (86.9)%Consolidated net income$32,483 $28,119 15.5% $80,273 $70,772 13.4%Net income available to ACIC stockholders per diluted share Continuing Operations$0.65 $0.56 16.1% $1.61 $1.43 12.6%Discontinued Operations — 0.01 NM — 0.01 NM Total$0.65 $0.57 14.0% $1.61 $1.44 11.8% Reconciliation of net income to core income: Plus: Non-cash amortization of intangible assets and goodwill impairment$609 $610 (0.2)% $1,828 $2,031 (10.0)%Less: Income from discontinued operations, net of tax — 450 NM 42 321 (86.9)%Less: Net realized gains (losses) on investment portfolio — (3) NM 1,382 (124) NM Less: Unrealized gains on equity securities 3,161 1,543 NM 3,429 1,542 NM Less: Net tax impact(1) (536) (195) NM (626) 129 NM Core income(2) 30,467 26,934 13.1% 77,874 70,935 9.8%Core income per diluted share(2)$0.61 $0.54 13.0% $1.57 $1.44 9.0% Book value per share $6.71 $5.38 24.7% NM = Not Meaningful(1) In order to reconcile net income to the core income measures, the Company included the tax impact of all adjustments using the 21% federal corporate tax rate.(2) Core income and core income per diluted share, both of which are measures that are not based on generally accepted accounting principles ("GAAP"), are reconciled above to net income and net income per diluted share, respectively, the most directly comparable GAAP measures. Additional information regarding non-GAAP financial measures presented in this press release can be found in the "Definitions of Non-GAAP Measures" section below. Comments from President & Chief Executive Officer, B. Bradford Martz: “We delivered another strong quarter, achieving year-over-year gains in both revenue and earnings. Our underwriting results continue to demonstrate our expertise and competitive advantage, with an underlying combined ratio of 57.8% for the third quarter and 62.4% year-to-date, outperforming our 65% target combined ratio. American Coastal is strategically positioned to deliver superior risk-adjusted returns throughout the market cycle, even as market conditions begin to soften, with a disciplined focus on achieving long-term value creation for our stakeholders.” Return on Equity and Core Return on Equity The calculations of the Company's return on equity and core return on equity are shown below. ($ in thousands)Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 2025 2024 Income from continuing operations, net of tax$32,483 $27,669 $80,231 $70,451 Return on equity based on GAAP income from continuing operations, net of tax(1) 47.5% 55.3% 39.1% 46.9% Income from discontinued operations, net of tax$— $450 $42 $321 Return on equity based on GAAP income from discontinued operations, net of tax(1) —% 0.9% —% 0.2% Consolidated net income$32,483 $28,119 $80,273 $70,772 Return on equity based on GAAP net income(1) 47.5% 56.2% 39.1% 47.1% Core income$30,467 $26,934 $77,874 $70,935 Core return on equity(1)(2) 44.5% 53.8% 37.9% 47.3% (1) Return on equity for the three and nine months ended September 30, 2025 and 2024 is calculated on an annualized basis by dividing the net income or core income for the period by the average stockholders' equity for the trailing twelve months.(2) Core return on equity, a measure that is not based on GAAP, is calculated based on core income, which is reconciled on the first page of this press release to net income, the most directly comparable GAAP measure. Additional information regarding non-GAAP financial measures presented in this press release can be found in the "Definitions of Non-GAAP Measures" section below. Combined Ratio and Underlying Ratio The calculations of the Company's combined ratio and underlying combined ratio are shown below. ($ in thousands)Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 Change 2025 2024 ChangeConsolidated Loss ratio, net(1) 11.4% 15.8% (4.4)pts 15.9% 19.7% (3.8)ptsExpense ratio, net(2) 45.5% 41.9% 3.6 pts 44.7% 38.9% 5.8 ptsCombined ratio (CR)(3) 56.9% 57.7% (0.8)pts 60.6% 58.6% 2.0 ptsEffect of current year catastrophe losses on CR 0.5% 6.6% (6.1)pts 0.2% 2.6% (2.4)ptsEffect of prior year favorable development on CR (1.4)% (1.8)% 0.4 pts (2.0)% (1.2)% (0.8)ptsUnderlying combined ratio(4) 57.8% 52.9% 4.9 pts 62.4% 57.2% 5.2 pts (1) Loss ratio, net is calculated as losses and loss adjustment expenses ("LAE"), net of losses ceded to reinsurers, relative to net premiums earned. (2) Expense ratio, net is calculated as the sum of all operating expenses, less interest expense relative to net premiums earned.(3) Combined ratio is the sum of the loss ratio, net and expense ratio, net. (4) Underlying combined ratio, a measure that is not based on GAAP, is reconciled above to the combined ratio, the most directly comparable GAAP measure. Additional information regarding non-GAAP financial measures presented in this press release can be found in the "Definitions of Non-GAAP Measures" section below. Combined Ratio Analysis The calculations of the Company's loss ratios and underlying loss ratios are shown below. Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 Change 2025 2024 ChangeNet loss and LAE$9,211 $11,774 $(2,563) $36,140 $39,525 $(3,385) % of Gross earned premiums 5.7% 7.4% (1.7)pts 7.4% 8.3% (0.9)pts% of Net earned premiums 11.4% 15.8% (4.4)pts 15.9% 19.7% (3.8)ptsLess: Current year catastrophe losses$425 $4,953 $(4,528) $425 $5,156 $(4,731) Prior year reserve favorable development (1,124) (1,357) 233 (4,593) (2,379) (2,214) Underlying loss and LAE(1)$9,910 $8,178 $1,732 $40,308 $36,748 $3,560 % of Gross earned premiums 6.1% 5.1% 1.0 pts 8.2% 7.7% 0.5 pts% of Net earned premiums 12.3% 11.0% 1.3 pts 17.7% 18.3% (0.6)pts (1) Underlying loss and LAE is a non-GAAP financial measure and is reconciled above to loss and LAE, the most directly comparable GAAP measure. Additional information regarding non-GAAP financial measures presented in this press release can be found in the "Definitions of Non-GAAP Measures" section, below. The calculations of the Company's expense ratios are shown below. Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2025 2024 Change 2025 2024 ChangePolicy acquisition costs$25,439 $20,942 $4,497 $73,162 $44,476 $28,686 General and administrative 11,321 10,289 1,032 28,605 33,479 (4,874) Total operating expenses$36,760 $31,231 $5,529 $101,767 $77,955 $23,812 % of Gross earned premiums 22.6% 19.5% 3.1 pts 20.8% 16.4% 4.4 pts% of Net earned premiums 45.5% 41.9% 3.6 pts 44.7% 38.9% 5.8 pts Quarter to Date Financial Results Net income for the third quarter ended September 30, 2025 was $32.5 million, or $0.65 per diluted share, compared to net income of $28.1 million, or $0.57 per diluted share, for the third quarter ended September 30, 2024. Drivers of net income during the third quarter of 2025 included increased gross premiums earned and decreased ceded premiums earned, driving an overall increase in revenues. This increase in revenue was offset by increased policy acquisition costs and general and administrative expenses quarter-over-quarter, partially offset by decreased loss and loss adjustment expenses. During the third quarter of 2024, the Company's net income attributable to discontinued operations was $450 thousand. The Company had no discontinued operations during the third quarter of 2025. The Company's total gross written premium decreased by $21.2 million, or 22.8%, to $71.8 million for the third quarter ended September 30, 2025, from $93.0 million for the third quarter ended September 30, 2024. Gross premium earned increased $2.6 million, or 1.6%, to $162.8 million for the third quarter ended September 30, 2025 from $160.2 million for the third quarter ended September 30, 2024. Ceded premiums earned decreased $3.8 million, or 4.4%, to $81.9 million for the third quarter ended September 30, 2025 from $85.7 million for the third quarter ended September 30, 2024. The breakdown of the quarter-over-quarter changes in these premiums are shown in the table below. More detail regarding the Company's ceded premiums can be seen in the 'Reinsurance Costs as a Percentage of Gross Earned Premium' section below. ($ in thousands)Three Months Ended September 30, 2025 2024 Change $ Change % Gross premiums written$71,812 $93,016 $(21,204) (22.8)%Change in gross unearned premiums 90,945 67,162 23,783 35.4%Gross premiums earned 162,757 160,178 2,579 1.6%Ceded premiums written (9,533) (24,267) 14,734 (60.7)%Change in ceded unearned premiums (72,406) (61,425) (10,981) 17.9%Ceded premiums earned (81,939) (85,692) 3,753 (4.4)%Net premiums earned$80,818 $74,486 $6,332 8.5% Loss and LAE decreased by $2.6 million, or 22.0%, to $9.2 million for the third quarter ended September 30, 2025, from $11.8 million for the third quarter ended September 30, 2024. Loss and LAE expense as a percentage of net earned premiums decreased 4.4 points to 11.4% for the third quarter ended September 30, 2025, compared to 15.8% for the third quarter ended September 30, 2024. Excluding catastrophe losses and reserve development, the Company's gross underlying loss and LAE ratio for the third quarter ended September 30, 2025, would have been 6.1%, an increase of 1.0 point from 5.1% for the third quarter ended September 30, 2024. Policy acquisition costs increased by $4.5 million, or 21.5%, to $25.4 million for the third quarter ended September 30, 2025, from $20.9 million for the third quarter ended September 30, 2024, primarily due to an increase in external management fees as a result of an increase in our commission for 2025. In addition, ceding commission income decreased as a result of the Company's quota share reinsurance coverage decreasing from 20% to 15%, effective June 1, 2025. General and administrative expenses increased by $1.0 million, or 9.7%, to $11.3 million for the third quarter ended September 30, 2025, from $10.3 million for the third quarter ended September 30, 2024, driven by increased salary related expenses as we expand our underwriting and compliance departments in 2025 to support our growth initiatives. Reinsurance Costs as a Percentage of Gross Earned Premium Reinsurance costs as a percentage of gross earned premium in the third quarter of 2025 and 2024 were as follows: 2025 2024 Non-at-Risk (0.3)% (0.5)%Quota Share (12.8)% (16.2)%All Other (37.2)% (36.8)%Total Ceding Ratio (50.3)% (53.5)% Ceded premiums earned related to the Company's catastrophe excess of loss contracts increased year-over-year, driven by a decrease in quota share reinsurance coverage from 20% to 15% effective June 1, 2025. As a result of the decreased quota share percentage and exposure growth, the Company purchased additional excess-of-loss coverage in 2025. This decrease in quota share reinsurance coverage lowered the Company's overall ceding ratio, as replacement excess-of-loss coverage was more cost-effective than the higher quota share coverage. Investment Portfolio Highlights The Company's cash, restricted cash and investment holdings increased from $540.8 million at December 31, 2024, to $695.0 million at September 30, 2025. This increase was driven by cash flows from operations. The Company's cash and investment holdings consist of investments in U.S. government and agency securities, corporate debt, mutual funds and investment grade money market instruments. Fixed maturities represented approximately 73.4% of total investments at September 30, 2025, compared to 82.3% of total investments at December 31, 2024. The Company's fixed maturity investments had a modified duration of 2.5 years at September 30, 2025, compared to 2.2 years at December 31, 2024. Book Value Analysis Book value per common share increased 37.2% from $4.89 at December 31, 2024, to $6.71 at September 30, 2025. Underlying book value per common share increased 32.1% from $5.21 at December 31, 2024, to $6.88 at September 30, 2025. An increase in the Company's retained earnings as a result of net income for the first nine months of 2025 drove the increase in the Company's book value per share. As shown in the table below, removing the effect of Accumulated Other Comprehensive Income ("AOCI"), caused by capital market conditions, increases the Company's book value per common share at September 30, 2025. ($ in thousands, except for share and per share data) September 30, 2025 December 31, 2024 Book Value per Share Numerator: Common stockholders' equity$327,221 $235,660 Denominator: Total Shares Outstanding 48,765,302 48,204,962 Book Value Per Common Share$6.71 $4.89 Book Value per Share, Excluding the Impact of AOCI Numerator: Common stockholders' equity$327,221 $235,660 Less: Accumulated other comprehensive loss (8,403) (15,666)Stockholders' Equity, excluding AOCI$335,624 $251,326 Denominator: Total Shares Outstanding 48,765,302 48,204,962 Underlying Book Value Per Common Share(1)$6.88 $5.21 (1) Underlying book value per common share is a non-GAAP financial measure and is reconciled above to book value per common share, the most directly comparable GAAP measure. Additional information regarding non-GAAP financial measures presented in this press release can be found in the "Definitions of Non-GAAP Measures" section below. Conference Call Details Date and Time:November 5, 2025 - 5:00 P.M. ET Participant Dial-In: (United States): 877-445-9755(International): 201-493-6744 Webcast:To listen to the live webcast, please go to https://investors.amcoastal.com and click on the conference call link at the bottom of the page or go to: https://event.webcasts.com/starthere.jsp?ei=1737568&tp_key=2ede963598 An archive of the webcast will be available for a limited period of time thereafter. Presentation: The information in this press release should be read in conjunction with an earnings presentation that is available on the Company's website at investors.amcoastal.com/events-and-presentations. About American Coastal Insurance Corporation American Coastal Insurance Corporation (amcoastal.com) is the holding company of the insurance carrier, American Coastal Insurance Company, which was founded in 2007 for the purpose of insuring Condominium and Homeowner Association properties, and Apartments in the state of Florida. American Coastal Insurance Company has an exclusive partnership for distribution of Condominium Association properties in the state of Florida with AmRisc Group (amriscgroup.com), one of the largest Managing General Agents in the country specializing in hurricane-exposed properties. American Coastal Insurance Company has earned a Financial Stability Rating of “A”, "Exceptional" from Demotech, and maintains an “A-” insurance financial strength rating with a Positive outlook by Kroll. ACIC maintains a ‘BBB-’ issuer rating with a Positive outlook by Kroll. Contact Information:Alexander BatyVice President, Finance & Investor Relations, American Coastal Insurance Corp.investorrelations@amcoastal.com(727) 425-8076 Karin DalyInvestor Relations, Vice President, The Equity Groupkdaly@theequitygroup.com(212) 836-9623 Definitions of Non-GAAP Measures The Company believes that investors' understanding of ACIC's performance is enhanced by the Company's disclosure of the following non-GAAP measures. The Company's methods for calculating these measures may differ from those used by other companies and therefore comparability may be limited. Net income (loss) excluding the effects of amortization of intangible assets, income (loss) from discontinued operations, realized gains (losses) and unrealized gains (losses) on equity securities, net of tax (core income (loss)) is a non-GAAP measure that is computed by adding amortization, net of tax, to net income (loss) and subtracting income (loss) from discontinued operations, net of tax, realized gains (losses) on the Company's investment portfolio, net of tax, and unrealized gains (losses) on the Company's equity securities, net of tax, from net income (loss). Amortization expense is related to the amortization of intangible assets acquired, including goodwill, through mergers and, therefore, the expense does not arise through normal operations. Investment portfolio gains (losses) and unrealized equity security gains (losses) vary independent of the Company's operations. The Company believes it is useful for investors to evaluate these components both separately and in the aggregate when reviewing the Company's performance. The most directly comparable GAAP measure is net income (loss). The core income (loss) measure should not be considered a substitute for net income (loss) and does not reflect the overall profitability of the Company's business. Core return on equity is a non-GAAP ratio calculated using non-GAAP measures. It is calculated by dividing the core income (loss) for the period by the average stockholders’ equity for the trailing twelve months (or one quarter of such average, in the case of quarterly periods). Core income (loss) is an after-tax non-GAAP measure that is calculated by excluding from net income (loss) the effect of income (loss) from discontinued operations, net of tax, non-cash amortization of intangible assets, including goodwill, unrealized gains or losses on the Company's equity security investments and net realized gains or losses on the Company's investment portfolio. In the opinion of the Company’s management, core income (loss), core income (loss) per share and core return on equity are meaningful indicators to investors of the Company's underwriting and operating results, since the excluded items are not necessarily indicative of operating trends. Internally, the Company’s management uses core income (loss), core income (loss) per share and core return on equity to evaluate performance against historical results and establish financial targets on a consolidated basis. The most directly comparable GAAP measure is return on equity. The core return on equity measure should not be considered a substitute for return on equity and does not reflect the overall profitability of the Company's business. Combined ratio excluding the effects of current year catastrophe losses and prior year reserve development (underlying combined ratio) is a non-GAAP measure, that is computed by subtracting the effect of current year catastrophe losses and prior year development from the combined ratio. The Company believes that this ratio is useful to investors, and it is used by management to highlight the trends in the Company's business that may be obscured by current year catastrophe losses and prior year development. Current year catastrophe losses cause the Company's loss trends to vary significantly between periods as a result of their frequency of occurrence and severity and can have a significant impact on the combined ratio. Prior year development is caused by unexpected loss development on historical reserves. The Company believes it is useful for investors to evaluate these components both separately and in the aggregate when reviewing the Company's performance. The most directly comparable GAAP measure is the combined ratio. The underlying combined ratio should not be considered as a substitute for the combined ratio and does not reflect the overall profitability of the Company's business. Net loss and LAE excluding the effects of current year catastrophe losses and prior year reserve development (underlying loss and LAE) is a non-GAAP measure that is computed by subtracting the effect of current year catastrophe losses and prior year reserve development from net loss and LAE. The Company uses underlying loss and LAE figures to analyze the Company's loss trends that may be impacted by current year catastrophe losses and prior year development on the Company's reserves. As discussed previously, these two items can have a significant impact on the Company's loss trends in a given period. The Company believes it is useful for investors to evaluate these components both separately and in the aggregate when reviewing the Company's performance. The most directly comparable GAAP measure is net loss and LAE. The underlying loss and LAE measure should not be considered a substitute for net loss and LAE and does not reflect the overall profitability of the Company's business. Book value per common share, excluding the impact of accumulated other comprehensive loss (underlying book value per common share), is a non-GAAP measure that is computed by dividing common stockholders' equity after excluding accumulated other comprehensive income (loss), by total common shares outstanding plus dilutive potential common shares outstanding. The Company uses the trend in book value per common share, excluding the impact of accumulated other comprehensive income (loss), in conjunction with book value per common share to identify and analyze the change in net worth attributable to management efforts between periods. The Company believes this non-GAAP measure is useful to investors because it eliminates the effect of interest rates that can fluctuate significantly from period to period and are generally driven by economic and financial factors that are not influenced by management. Book value per common share is the most directly comparable GAAP measure. Book value per common share, excluding the impact of accumulated other comprehensive income (loss), should not be considered a substitute for book value per common share and does not reflect the recorded net worth of the Company's business. Discontinued Operations On May 9, 2024, the Company entered into the Sale Agreement with Forza Insurance Holdings, LLC ("Forza") in which ACIC agreed to sell and Forza agreed to acquire 100% of the issued and outstanding stock of the Company's subsidiary, Interboro Insurance Company ("IIC"). Forza's application to acquire IIC was approved by the New York Department of Financial Services on February 13, 2025 and the sale closed on April 1, 2025. The Company received cash proceeds totaling $25,679,000 from the sale resulting in a loss on disposal of $247,000, net of tax impact. The Company also recognized a $1,348,000 loss, net of tax impact, on IIC's fixed maturity portfolio, which was included in Accumulated other comprehensive loss on the Company's Consolidated Balance Sheet prior to the sale. Forward-Looking Statements Statements made in this press release, or on the conference call identified above, and otherwise, that are not historical facts are “forward-looking statements”. The Company believes these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions, or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those expressed in, or implied by, the forward-looking statements. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words such as “may,” “will,” “expect,” "endeavor," "project," “believe,” "plan," “anticipate,” “intend,” “could,” “would,” “estimate” or “continue” or the negative variations thereof or comparable terminology. Factors that could cause actual results to differ materially may be found in the Company's filings with the U.S. Securities and Exchange Commission, in the “Risk Factors” section in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made, and, except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements. Consolidated Statements of Comprehensive Income (Unaudited)In thousands, except share and per share amounts Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 REVENUE: Gross premiums written$71,812 $93,016 $498,010 $507,066 Change in gross unearned premiums 90,945 67,162 (7,692) (31,168)Gross premiums earned 162,757 160,178 490,318 475,898 Ceded premiums earned (81,939) (85,692) (262,785) (275,400)Net premiums earned 80,818 74,486 227,533 200,498 Net investment income 6,416 6,110 16,720 15,474 Net realized investment gains (losses) — (3) 1,382 (124)Net unrealized gains on equity securities 3,161 1,543 3,429 1,542 Total revenue 90,395 82,136 249,064 217,390 EXPENSES: Losses and loss adjustment expenses 9,211 11,774 36,140 39,525 Policy acquisition costs 25,439 20,942 73,162 44,476 General and administrative expenses 11,321 10,289 28,605 33,479 Interest expense 2,719 3,067 8,155 9,212 Total expenses 48,690 46,072 146,062 126,692 Income before other income 41,705 36,064 103,002 90,698 Other income 665 453 3,114 2,074 Income before income taxes 42,370 36,517 106,116 92,772 Provision for income taxes 9,887 8,848 25,885 22,321 Income from continuing operations, net of tax$32,483 $27,669 $80,231 $70,451 Income from discontinued operations, net of tax — 450 42 321 Net income$32,483 $28,119 $80,273 $70,772 OTHER COMPREHENSIVE INCOME: Change in net unrealized gains on investments 1,391 7,529 8,645 7,404 Reclassification adjustment for net realized investment losses (gains) — 3 (1,382) 124 Total comprehensive income$33,874 $35,651 $87,536 $78,300 Weighted average shares outstanding Basic 48,664,597 48,066,358 48,413,364 47,742,744 Diluted 49,917,729 49,521,246 49,713,535 49,255,071 Earnings available to ACIC common stockholders per share Basic Continuing operations$0.67 $0.58 $1.66 $1.48 Discontinued operations — 0.01 — 0.01 Total$0.67 $0.59 $1.66 $1.49 Diluted Continuing operations$0.65 $0.56 $1.61 $1.43 Discontinued operations — 0.01 — 0.01 Total$0.65 $0.57 $1.61 $1.44 Dividends declared per share$— $— $— $— Consolidated Balance Sheets (Unaudited)In thousands, except share amounts September 30,2025 December 31,2024 ASSETS Investments, at fair value: Fixed maturities, available-for-sale$246,499 $281,001 Equity securities 52,585 36,794 Other investments 36,827 23,623 Total investments$335,911 $341,418 Cash and cash equivalents 267,872 137,036 Restricted cash 91,264 62,357 Total cash, cash equivalents and restricted cash$359,136 $199,393 Accrued investment income 3,226 2,964 Property and equipment, net 2,807 5,736 Premiums receivable, net 30,335 46,564 Reinsurance recoverable on paid and unpaid losses, net 144,261 263,419 Ceded unearned premiums 184,366 160,893 Goodwill 59,476 59,476 Deferred policy acquisition costs, net 44,214 40,282 Intangible assets, net 4,080 5,908 Other assets 11,042 16,816 Assets held for sale — 73,243 Total Assets$1,178,854 $1,216,112 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Unpaid losses and loss adjustment expenses$188,703 $322,087 Unearned premiums 293,047 285,354 Reinsurance payable on premiums 143,058 83,130 Accounts payable and accrued expenses 64,936 86,140 Operating lease liability 3,193 3,323 Notes payable, net 149,270 149,020 Other liabilities 9,426 1,456 Liabilities held for sale — 49,942 Total Liabilities$851,633 $980,452 Stockholders' Equity: Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding$— $— Common stock, $0.0001 par value; 100,000,000 shares authorized; 48,977,385 and 48,417,045 issued, respectively; 48,765,302 and 48,204,962 outstanding, respectively 5 5 Additional paid-in capital 440,549 436,524 Treasury shares, at cost: 212,083 shares (431) (431)Accumulated other comprehensive loss (8,403) (15,666)Retained earnings (deficit) (104,499) (184,772)Total Stockholders' Equity$327,221 $235,660 Total Liabilities and Stockholders' Equity$1,178,854 $1,216,112

American Coastal Insurance Corporation Reports Financial Results for Its Third Quarter Ended September 30, 2025

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