Slide 1: 4Q 2025 Earnings Presentation
4Q 2025 Earnings Presentation February 18, 2026
Slide 2: Forward-Looking Statements, Safe Harbor, and Non-GAAP Financial Measures
4Q 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 and recently announced pending acqui
Slide 3: FY 2025 Key Takeaways
4Q 2025 Earnings Presentation FY 2025 Key Takeaways • Delivered OCC revenue growth of 6.6% – Underwriting OCC growth of 7.0% – Claims OCC growth of 5.7% • Drove 8.5% OCC adjusted EBITDA growth • Achieved adjusted EBITDA margins of 56.2%, an expansion of 150 bps – Margins included 40 bps of benefit f
Slide 4: 4Q 2025 Key Takeaways
4Q 2025 Earnings Presentation 4Q 2025 Key Takeaways • Grew OCC revenue 5.2% – Underwriting OCC growth of 7.2% – Claims OCC growth of 0.5% • Drove 6.2% OCC adjusted EBITDA growth • Achieved adjusted EBITDA margins of 56.1%, an expansion of 200 bps while continuing to reinvest in the business – Margin
Slide 5: FY 2025 Financial Summary
4Q 2025 Earnings Presentation FY 2025 Financial Summary Revenue Adj EBITDA Adj EBITDA Margin Diluted Adj EPS Free Cash Flow $3,073M $1,727M 56.2% $7.16 $1,192M +6.6% (OCC) +8.5% (OCC) +150bps +7.8% +29.5% Underwriting Claims 81%Subscription 79% Transactional 2Q 2024 2Q 2023 +7.0% +5.7% +9.1% -4.3% O
Slide 6: 4Q 2025 Financial Summary
4Q 2025 Earnings Presentation 4Q 2025 Financial Summary Revenue Adj EBITDA Adj EBITDA Margin Diluted Adj EPS Free Cash Flow $779M $437M 56.1% $1.82 $276M +5.2% (OCC) +6.2% (OCC) +200bps +13.0% +38.0% Underwriting Claims 81%Subscription 79% Transactional 2Q 2024 2Q 2023 +7.2% +0.5% +7.7% -6.5% OCC OC
Slide 7: Financial Results
Financial Results
Slide 8: Financial Results
Financial Results Financial Results ($ in millions except per share amounts) 4Q25 4Q24 YoY Change OCC Growth Revenue $779M $736M 5.9% 5.2% Adjusted EBITDA 437 398 9.8% 6.2% 81% 79% Adjusted EBITDA Margin 56.1% 54.1% 200 bps 2Q 2024 - 2Q 2023 Diluted GAAP EPS $1.42 $1.44 -1.4% - Diluted Adj EPS $1.82
Slide 9: Revenue Breakdown
Financial Results Revenue Breakdown ($ in millions) $753 $773 $768 $779 $717 $725 $736 $704 $221 $223 $226 $223 $206 $209 $218 $224 $498 $508 $507 $512 $532 $550 81% $542 $55679% 2Q 2024 2Q 2023 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Underwriting Claims Total OCC Growth Rates 1Q24 2Q24 3Q24 4Q24 1Q
Slide 10: Subscription vs. Transactional Growth
Financial Results Subscription vs. Transactional Growth Organic Constant Currency (OCC) OCC Growth Subscription Transactional Total 4Q25 Highlights 4Q23 7.3% 0.8% 6.0% • Total revenue growth of 5.2% – Solid growth in Underwriting offset by moderate growth FY23 8.6% 9.2% 8.7% in Claims due to continu
Slide 11: Adjusted EBITDA & Adjusted EBITDA Margin
Financial Results Adjusted EBITDA & Adjusted EBITDA Margin ($ in million USD) Adjusted EBITDA Total Adjusted EBITDA Margin 13.5% 10.6% 9.5% 9.7% 8.5% 8.8% 7.2% 57.6% 6.2% 55.8% 56.1% $445 55.3% $429 $437 55.4% 55.2% $417 56.2% $397 $401 $398 54.7% 55.6% 55.7% 54.0% $380 55.0% 54.6% 54.3% 53.9% 54.1%
Slide 12: 2026 Outlook
Financial Results 2026 Outlook Metric 2025 Results(1) 2026 Guidance Total Revenue $3,073M $3,190 – $3,240M Adjusted EBITDA $1,727M $1,790 – $1,830M Adjusted EBITDA margin 56.2% 56.0% – 56.5% Diluted Adjusted EPS $7.16 $7.45 – $7.75 81% Tax rate 22.5% 2Q 2024 23% – 26% 2Q 2023 Capex $244M $260 – $280
Slide 13: Cash Flow and Capital
Cash Flow and Capital
Slide 14: Recent Capital Actions
Cash Flow and Capital Recent Capital Actions Debt • Redeemed debt issued in connection with Acculynx transaction on January 6, 2026 • $750M of 4.5% senior notes due 2030 • $750M of 5.125% senior notes due 2036 Share Repurchase • Repurchased $224M of shares in 4Q25 • Announced intention to execute $1
Slide 15: Capital Structure
Cash Flow and Capital Capital Structure as of $1,400M (in $ millions) Dec 31, 2025 $1,250M Bonds $4,750M $1,200M Revolver Drawn **$XXXM- Total Debt1 $4,750M $1,000M Retired Debt ($1,500)M $800M $750M $750M Pro Forma Debt2 *$3,250M $700M $600M $600M $600M Debt/EBITDA3 2.8x $500M $500M Pro Forma Debt/
Slide 16: Commitment to Returning Capital
Cash Flow and Capital Commitment to Returning Capital Dividends & Share Buybacks since Dividend Initiation Dividends Share Repurchase Dividend YoY Payout Share % of Shares Year Per Share1 Growth (%) Ratio2 (%) Year Repurchase ($M) Outstanding Free Cash Flow 2019 $1.00 -- 23% 2019 $300M 1.3% $740M 20
Slide 17: Cash Flow Utilization
Cash Flow and Capital Cash Flow Utilization (in $ millions) 2024 2025 4Q24 4Q25 Net cash provided by operating activities1,2 $1,144M $1,436M $255M $343M Capital expenditures (224)M (244)M (55)M (67)M Free cash flow (FCF) 920M 1,192M 200M 276M Acquisitions and divestitures3 95M (111)M 7M 82M Net debt
Slide 18: Appendix: Supplemental Slides and/or Non-GAAP Reconciliations
Appendix: Supplemental Slides and/or Non-GAAP Reconciliations
Slide 19: 2025 Revenue Contribution
Appendix 2025 Revenue Contribution Catastrophe and Risk Solutions UWS International 13% 2% Specialty Business Verisk Marketing Solutions Solutions 4% 2% Life Solutions 4% Property Estimating Solutions Underwriting Data 14% Analytics Solutions 14% $3.07B Revenue Anti-Fraud 10% Underwriting Claims 71%
Slide 20: Revenue & Adjusted EBITDA
Appendix Revenue & Adjusted EBITDA $ in million USD OCC Revenue Growth 8.7% OCC Revenue Growth 7.1% OCC Revenue Growth 6.6% OCC Adj. EBITDA growth: 11.5% OCC Adj. EBITDA growth: 9.9% OCC Adj. EBITDA growth: 8.5% Adj. EBITDA Margin: 53.5% Adj. EBITDA Margin: 54.7% Adj. EBITDA Margin: 56.2% $3,073 $2,
Slide 21: 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 22: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations Segment Results and EBITDA | Current and Prior-Year Period Segment Results Summary and 4Q25 4Q24 Adjusted EBITDA Reconciliation Revenues $778.8M $735.6M Revenues from acquisitions and dispositions (24.1) (21.1) Organic revenues 754.7 714.5 EBITDA 380.7 386.0 Acquisi
Slide 23: 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 4Q25 4Q24 Net income $197.2M $210.3M less: (Income) loss from discontinued operations 0.0 (6.8) Income from continuing operations 197.2 203.5 plus: Amortization of
Slide 24: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations Segment Results and EBITDA Segment Results Summary and Adjusted EBITDA Reconciliation FY25 FY24 Revenues $3,072.7M $2,881.7M Revenues from acquisitions and dispositions (31.1) (35.9) Organic revenues 3,041.6 2,845.8 EBITDA 1,668.9 1,659.1 Acquisition-related earn-ou
Slide 25: 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 FY25 FY24 Net income $908.3M $957.5M less: (Income) loss from discontinued operations 0.0 (6.8) Income from continuing operations 908.3 950.7 plus: Amortization of
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