NMI Holdings, Inc. NMIH Income Statement

Nmi holdings, inc. (NMIH)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Sep'12
Revenues
Direct
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	482	1	0	0
Net premiums written
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,347	12,921	-	9,661	5,051	5,178	3,058	482	1	0	0
Increase in unearned premiums
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11,491	-5,985	-	-5,761	-2,958	-3,274	-1,446	0	0	0	0
Net premiums earned
98,717	95,517	92,381	83,249	73,868	69,261	65,407	61,615	54,914	50,079	44,519	37,917	33,225	32,825	31,808	26,041	19,807	16,880	12,834	8,856	6,936	5,510	3,900	2,093	1,904	1,612	482	1	0	-
Net investment income
8,104	7,962	7,882	7,629	7,383	6,952	6,277	5,735	4,574	4,388	4,170	3,908	3,807	3,634	3,544	3,342	3,231	2,078	1,884	1,688	1,596	1,319	1,342	1,468	1,489	1,472	1,519	1,407	410	0
Net realized investment losses
-72	264	81	-113	-187	6	-8	59	0	9	69	188	-58	65	66	61	-885	-121	-15	354	613	63	134	0	0	14	-308	452	28	0
Other revenues
900	1,154	1,244	415	42	40	85	44	64	62	195	185	80	105	102	37	32	25	0	0	0	-	-	-	-	-	-	-	-	-
Total revenues
107,649	104,897	101,588	91,180	81,106	-	-	-	-	54,538	48,953	42,198	37,054	36,629	35,520	29,481	22,185	18,862	14,703	10,898	9,145	6,038	5,376	3,561	4,247	3,709	2,161	746	473	0
Expenses
Insurance claims and claim expenses
5,697	4,269	2,572	2,923	2,743	2,141	1,099	643	1,569	2,374	957	1,373	635	800	664	470	458	371	181	-6	104	81	-26	28	0	0	0	0	0	-
Amortization of deferred policy acquisition costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-
Underwriting and operating expenses
32,277	31,296	32,335	32,190	30,800	29,339	30,323	28,958	28,346	27,680	24,645	28,048	25,989	23,280	24,037	23,234	22,672	21,686	19,653	20,910	18,350	17,583	17,895	18,637	19,302	15,264	16,034	17,020	12,426	-
Service expenses
734	937	909	353	49	45	56	62	107	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payroll and related
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,085
Share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,045
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Professional fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,143
Information technology
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	281
Travel and related costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	227
Rent and office expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97
Interest expense
2,744	2,974	2,979	3,071	3,061	3,028	2,972	5,560	3,419	3,382	3,352	3,300	3,494	3,776	3,733	3,707	3,632	2,057	0	0	0	-	-	-	-	-	-	-	-	0
(Gain) loss from change in fair value of warrant liability
5,959	-2,632	1,139	-1,685	-5,479	3,538	-5,464	109	420	-3,426	-502	19	-196	-1,714	-797	-59	670	431	332	-106	1,248	-60	1,240	952	817	-918	468	-1,114	35	0
Loss on impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other underwriting and operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	232
Total expenses
35,493	57,244	35,816	26,926	42,132	-	-	-	-	48,304	25,602	29,421	26,624	24,080	24,701	23,704	23,130	22,057	19,834	20,904	18,454	17,664	17,869	18,665	19,302	15,264	16,034	17,020	12,426	8,113
Gain from settlement of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	37	0	0	0	0	-
Total other expense
-	-	-	-	-	-	-	-	-	-	-3,854	-3,281	-3,690	-5,490	-4,530	-3,766	-2,962	-1,626	332	-106	1,248	-	-	-	-	-	-	-	-	-
Income before income taxes
72,156	62,789	63,932	50,958	38,974	45,244	31,847	32,339	26,531	17,059	19,497	9,496	6,740	7,059	6,289	2,011	-3,907	-4,821	-4,799	-10,112	-8,061	-10,832	-11,253	-14,152	-15,055	-	-13,873	-16,274	-	-
Income tax expense
13,885	12,594	14,169	11,858	6,075	9,724	7,036	7,098	4,176	18,783	7,185	3,484	1,248	-52,663	114	0	0	0	0	241	-241	-812	-277	-1,297	0	-	0	0	-	-
Net income
58,271	50,195	49,763	39,100	32,899	35,520	24,811	25,241	22,355	-1,766	12,312	6,012	5,492	59,722	6,175	2,011	-3,907	-4,821	-4,799	-10,353	-7,820	-10,020	-10,976	-12,855	-15,055	-13,084	-13,873	-16,274	-11,953	-8,112
Earnings per share
Basic (in dollars per share)
0.85	0.74	0.73	0.58	0.49	0.54	0.38	0.38	0.36	-0.03	0.21	0.10	0.09	1.02	0.10	0.03	-0.07	-	-0.08	-0.18	-	-	-	-	-	-	-	-	-	-
Diluted (in dollars per share)
0.74	0.71	0.69	0.56	0.48	0.46	0.36	0.37	0.34	-0.04	0.20	0.10	0.09	0.99	0.10	0.03	-0.07	-	-0.08	-0.18	-	-	-	-	-	-	-	-	-	-
Weighted average common shares outstanding
Basic (in shares)
68,563	68,140	67,849	67,590	66,692	66,308	65,948	65,664	62,099	60,373	59,884	59,823	59,184	59,111	59,130	59,105	58,936	-	58,741	58,720	-	-	-	-	-	-	-	-	-	-
Diluted (in shares)
70,401	70,276	70,137	69,590	68,996	69,013	68,844	68,616	65,697	60,306	63,089	63,010	62,339	64,263	60,284	59,830	58,936	-	58,741	58,720	-	-	-	-	-	-	-	-	-	-
Comprehensive income:
Net income
58,271	50,195	49,763	39,100	32,899	35,520	24,811	25,241	22,355	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and diluted loss per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.13	-	-0.19	-0.22	-0.26	-0.23	-0.25	-0.29	-0.22	-0.15
Weighted average common shares outstanding (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	58,485	-	58,363	58,289	58,061	57,253	55,637	55,629	55,500	55,500
Other comprehensive (loss) income, net of tax:
Unrealized (losses) gains in accumulated other comprehensive income, net of tax (benefit) expense of ($3,424) and $3,953 for the quarters ended March 31, 2020 and 2019, respectively
-12,881	-1,669	5,177	13,779	14,868	-	-	-	-	-2,206	768	2,822	1,175	-16,260	-82	8,670	9,101	-3,502	-483	-2,205	2,672	470	-709	840	3,035	177	2,283	-10,210	888	0
Reclassification adjustment for realized losses included in net income, net of tax (benefit) of ($15) and ($39) for the quarters ended March 31, 2020 and 2019, respectively
-57	208	64	-89	-148	-	-	-	-	22	45	122	-58	0	66	61	-885	-603	-15	354	613	196	0	0	0	-	-	-	-	-
Other comprehensive (loss) income, net of tax
-12,824	-1,877	5,113	13,868	15,016	-	-	-	-	-2,228	723	2,700	1,233	-16,260	-148	8,609	9,986	-2,899	-468	-2,559	2,059	274	-709	840	3,035	-8	2,283	-10,210	888	0
Comprehensive income
45,447	48,318	54,876	52,968	47,915	-	-	-	-	-3,994	13,035	8,712	6,725	43,462	6,027	10,620	6,079	-7,720	-5,267	-12,912	-5,761	-9,746	-11,685	-12,015	-12,020	-13,092	-11,590	-26,484	-11,065	-8,112