Kin Posts Q1 Results, Strong Performance Noted

The latest set of financials from Kin for you;

Kin, the direct-to-consumer provider of insurance and home finance solutions for homeowners, today announced operating results for the first quarter ended March 31, 2026.

Kin opened 2026 with strong profitability momentum, reporting Total Revenue of $56.6 million and a record Q1 Baseline Operating Margin of 50% — up from 42% in the prior year period. Baseline Operating Income reached $20.2 million, up 37% year-over-year, while Operating Income⁷ grew 96% to $4.5 million, reflecting the expanding earnings power of Kin’s growing renewal base. Gross Written Premium² reached $177.6 million, a 20% year-over-year increase, with Gross Profit Margin remaining strong at 94%. The results reflect growing customer demand for Kin’s expanding suite of home insurance, auto insurance, and home finance products.

“Insurance and reinsurance rates are now stabilized after a period of turmoil between 2022 and 2024. That means fewer customers are shopping, which makes customer acquisition more expensive for us,” said Kin Founder and CEO Sean Harper. “This quarter we spent about $30M on growth expenses and acquired about $16M of new annual recurring revenue (ARR). That means our customer acquisition this quarter will break even at the first renewal, about a year from now. That’s a very fast payback for ARR that has about a 10% net churn rate.”

Expanding margins through operating leverage

“Our Baseline Operating Margin reached 50%, or $20.2M, so we were able to cover our growth expenses organically and still nearly double our overall Operating Margin,” said Kin CFO Jerry Fadden. “Since our infrastructure is driven by our investments in software and AI, our general and administrative (G&A) costs are mostly fixed. Small increases in Baseline or G&A expenses were led by investments to further expand our competitive moat.”

“Our technology continues to create market-beating results for the reciprocal exchanges we manage. You can see that in this quarter’s loss results — which continue to outperform target — and in the pricing of our recent catastrophe bond, which priced 300 bps better than the market¹⁰,” said Kin Chief Insurance Officer Angel Conlin. “The reciprocals are acting as they should, providing stable capacity to Kin and our customers. There’s a natural hedge in our business. When the market environment drives higher acquisition costs, it simultaneously helps the reciprocals increase income, improving their resilience against future volatility.”

There’s more detail available here.