---
title: "Kingstone | 10-Q: FY2025 Q3 Revenue: USD 55.65 M"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/265571272.md"
datetime: "2025-11-12T18:13:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265571272.md)
  - [en](https://longbridge.com/en/news/265571272.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265571272.md)
---

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# Kingstone | 10-Q: FY2025 Q3 Revenue: USD 55.65 M

Revenue: As of FY2025 Q3, the actual value is USD 55.65 M.

EPS: As of FY2025 Q3, the actual value is USD 0.74, beating the estimate of USD 0.71.

EBIT: As of FY2025 Q3, the actual value is USD 13.78 M.

### Segment Revenue

-   **Net Premiums Earned**: $137.7 million for the nine months ended September 30, 2025, compared to $92.5 million for the same period in 2024, representing a 48.8% increase.
-   **Ceding Commission Revenue**: $10.9 million for the nine months ended September 30, 2025, compared to $13.9 million for the same period in 2024, a decrease of 21.1%.

### Operational Metrics

-   **Net Income**: $26.0 million for the nine months ended September 30, 2025, compared to $12.9 million for the same period in 2024, an increase of 101.3%.
-   **Net Loss Ratio**: 48.2% for the nine months ended September 30, 2025, compared to 48.8% for the same period in 2024.
-   **Net Underwriting Expense Ratio**: 30.8% for the nine months ended September 30, 2025, compared to 31.9% for the same period in 2024.
-   **Net Combined Ratio**: 79.0% for the nine months ended September 30, 2025, compared to 80.7% for the same period in 2024.

### Cash Flow

-   **Net Cash Flows Provided by Operating Activities**: $53.1 million for the nine months ended September 30, 2025, compared to $35.0 million for the same period in 2024.

### Unique Metrics

-   **Direct Written Premiums**: $195.0 million for the nine months ended September 30, 2025, compared to $169.4 million for the same period in 2024, a 15.1% increase.

### Future Outlook and Strategy

-   **Core Business Focus**: The company aims to achieve a 5-year goal of $500 million in direct written premium, effectively doubling the size of the company through a combination of organic initiatives and strategic inorganic opportunities in New York and expansion into new states.
-   **Non-Core Business**: The company plans to pursue growth in new states, with a focus on maintaining rate adequacy and risk factors, aiming to go live in two states in 2026 and two additional states in 2027.

### 相關股票

- [Kingstone (KINS.US)](https://longbridge.com/zh-HK/quote/KINS.US.md)

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