Neptune Lifts 2026 Outlook After Record Q1, Launches AI Tools and a $100 Million Buyback

Overview

• Neptune reported a record first quarter with revenue of $37.8 million, up 29% year over year, and net income of $7.3 million.
• Full‑year 2026 guidance now calls for $195 million in revenue and adjusted EBITDA margins of 60% to 61%, which management described as a durable level.
• The company rolled out ATLAS Plus, an AI assistant that helps agents generate sales materials, answer coverage questions, and work directly with quotes, and it debuted a beta of Neptune’s app inside ChatGPT.
• A $100 million share repurchase will be funded from free cash flow over two years, with a separate RSU tax settlement expected to use about $12 million of cash.
• Management highlighted distribution and data scale with 45,000 agents using single sign‑on, about 44% new‑business growth, roughly 90% revenue retention, and core systems built in house to price catastrophe risk such as floods.