Slide 1: 1Q 2025 Earnings Presentation
1Q 2025 Earnings Presentation May 7, 2025
Slide 2: Forward-Looking Statements, Safe Harbor, and Non-GAAP Financial Measures
1Q 2025 Earnings Presentation Forward-Looking Statements, Safe Harbor, and Non-GAAP Financial Measures Forward-Looking Statements This release contains forward-looking statements about Verisk’s future performance, including those related to our financial guidance. These statements relate to future e
Slide 3: Key Takeaways
1Q 2025 Earnings Presentation Key Takeaways • Delivered strong first quarter results, driven by double digit subscription revenue growth with solid contributions from Underwriting & Claims • Expanded Adjusted EBITDA margins while continuing to invest back into the business • Focused on driving inven
Slide 4: Financial Summary
1Q 2025 Earnings Presentation Financial Summary Revenue Adj EBITDA Adj EBITDA Margin Diluted Adj EPS Free Cash Flow $753M $417M 55.3% $1.73 $391M +7.9% (OCC) +9.5% (OCC) +130bps +6.1% +23.3% Underwriting Claims 81%Subscription 79% Transactional 2Q 2024 2Q 2023 +7.2% +9.6% +10.6% -4.0% OCC OCC OCC OC
Slide 5: Financial Results
Financial Results
Slide 6: Financial Results
Financial Results Financial Results ($ in millions except per share amounts) 1Q25 1Q24 YoY Change OCC Growth Revenue $753M $704M 7.0% 7.9% Adjusted EBITDA 417 380 9.5% 9.5% 81% 79% Adjusted EBITDA Margin 55.3% 54.0% 130 bps 2Q 2024 - 2Q 2023 Diluted GAAP EPS $1.65 $1.52 8.6% - Diluted Adj EPS $1.73
Slide 7: Revenue Breakdown
Financial Results Revenue Breakdown ($ in millions) $753 $717 $725 $736 $704 $675 $678 $677 $652 $224 $221 $206 $209 $218 $191 $197 $202 $198 $498 $508 $507 $512 $532 $461 $478 $475 $479 81% 79% 2Q 2024 2Q 2023 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Underwriting Claims Total OCC Growth Rates 1
Slide 8: Subscription vs. Transactional Growth
Financial Results Subscription vs. Transactional Growth Organic Constant Currency (OCC) OCC Growth Subscription Transactional Total 1Q23 8.7% 14.4% 9.8% 1Q25 Highlights 2Q23 9.1% 12.4% 9.8% • Subscription revenue growth of 10.6% 3Q23 9.3% 10.2% 9.4% – Subscription revenue represented 83% of total re
Slide 9: EBITDA & EBITDA Margins
Financial Results EBITDA & EBITDA Margins $ in million USD Adjusted EBITDA (Pro Forma) Total Adjusted EBITDA Margin (Pro Forma) 15.7% 12.6% 13.5% 11.8% 10.6% 9.5% 8.5% 7.2% 6.5% 55.4% 55.2% 55.3% $417 $397 $401 $398 54.7% $380 54.1% 54.0% 54.0% $365 $366 $362 55.0% 53.5% 54.6% $340 54.3% 52.7% 53.9%
Slide 10: 2025 Outlook
Financial Results 2025 Outlook 2025 Metric Guidance Total Revenue $3,030 – $3,080M OCC Growth % 6.0% – 8.0% Adjusted EBITDA $1,670 – $1,720M 81% Adjusted EBITDA margin 55.0% 2Q 2024– 55.8% 2Q 2023 Diluted Adjusted EPS $6.80 – $7.10 Tax rate 23% – 25% Capex $245 – $265M Fixed asset D&A $250 – $270M I
Slide 11: Cash Flow and Capital
Cash Flow and Capital
Slide 12: Recent Capital Actions
Cash Flow and Capital Recent Capital Actions • Issued $700M of 5.25% notes due 2035 in March 2025 • Retired $500M of 4.0% senior notes on April 21, 2025 • Repurchased $200M of shares through an ASR in 1Q25 • Paid dividend of $0.45 a share in 1Q25, totaling $63M ©Verisk Analytics, Inc. All rights res
Slide 13: Capital Structure
Cash Flow and Capital Capital Structure as of $1,200 (in $ millions) Mar. 31, 2025 Bonds $3,750M $1,000 Revolver Drawn *$500M- Total Debt1 $3,750M $800 Retired Debt (April 2025) ($500)M Pro Forma Debt2 $3,250M $600 Debt/EBITDA3 2.3x $400 Pro Forma Debt/EBITDA4 2.0x $200 Investment Grade Ratings $0 M
Slide 14: Commitment to Returning Capital
Cash Flow and Capital Commitment to Returning Capital Dividends & Share Buybacks since Dividend Initiation Dividends Share Repurchase Dividend YoY Payout Share % of Shares Year Per Share1 Growth (%) Ratio2 (%) Year Repurchase ($M) Outstanding Free Cash Flow 2019 $1.00 --%%% 23%%% 2019 $300MM 1.3%%%
Slide 15: Cash Flow Utilization
Cash Flow and Capital Cash Flow Utilization (in $ millions) 2023 2024 1Q24 1Q25 Net cash provided by operating activities1,2 $1,061M $1,144M $372M $445M Capital expenditures (230)M (224)M (55)M (54)M Free cash flow (FCF) 831M 920M 317M 391M Acquisitions and divestitures3 2,981M 95M (27)M (4)M Net de
Slide 16: Appendix: Supplemental Slides and/or Non-GAAP Reconciliations
Appendix: Supplemental Slides and/or Non-GAAP Reconciliations
Slide 17: 2024 Revenue Contribution
Appendix 2024 Revenue Contribution Extreme Event Solutions 2 13% 1 Specialty Business Solutions New Growth Vectors 9% 4% Property Estimating Solutions Underwriting Data 15% Analytics Solutions 13% $2.9B revenue Anti-Fraud Underwriting 9% Claims 70% Casualty 3% 30% Forms, Rules, and Loss Costs Claims
Slide 18: Business Unit Description
Appendix Business Unit Description Underwriting Forms, Rules and Loss Costs Underwriting Data Extreme Event Solutions New Growth Vectors Specialty Business Industry-standard insurance Analytics Solutions Catastrophe and extreme (incl. Life, Marketing, and UWS Solutions programs, providing policy Pro
Slide 19: Revenue & Adjusted EBITDA
Appendix Revenue & Adjusted EBITDA $ in million USD OCC Revenue Growth 6.5% OCC Revenue Growth 8.7% OCC Revenue Growth 7.1% OCC Adj. EBITDA growth: 8.0% OCC Adj. EBITDA growth: 11.5% OCC Adj. EBITDA growth: 9.9% Adj. EBITDA Margin: 52.0% Adj. EBITDA Margin: 53.5% Adj. EBITDA Margin: 54.7% $2,882 $2,
Slide 20: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations Specified Metrics We have provided certain non-GAAP financial information as supplemental information regarding our operating results. These measures are not in accordance with, or an alternative for, U.S. GAAP and may be different from non-GAAP measures reported by
Slide 21: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations Segment Results and EBITDA | Current and Prior-Year Period Segment Results Summary and 1Q25 1Q24 Adjusted EBITDA Reconciliation Revenues $753.0M $704.0M Revenues from acquisitions and dispositions (0.8) (5.4) Organic revenues 752.2 698.6 EBITDA 415.9 380.0 Acquisiti
Slide 22: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations Adjusted Net Income/EPS and Free Cash Flow | Current and Prior-Year Period Adjusted Net Income and EPS 1Q25 1Q24 Net income $232.3M $219.4M plus: Amortization of intangibles 15.8 18.5 less: Income tax effect on amortization of intangibles (4.1) (4.8) less: Acquisiti
Slide 23: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations Segment Results and EBITDA Segment Results Summary and Adjusted EBITDA Reconciliation FY24 FY23 Revenues $2,881.7M $2,681.4M Revenues from acquisitions and dispositions (16.5) (9.1) Organic revenues 2,865.2 2,672.3 EBITDA 1,659.1 1,424.1 Acquisition-related costs (e
Slide 24: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations Adjusted Net Income/EPS and Free Cash Flow | Current and Prior-Year Period Adjusted Net Income and EPS FY24 FY23 Net income $957.5M $614.4M less: (Income) loss from discontinued operations (6.8) 154.0 Income from continuing operations 950.7 768.4 plus: Amortization
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