Net income was $234 million, up 0.8%.
Adjusted EBITDA, a non-GAAP measure, was $438 million, up 5.0%, and up 5.9% on an OCC basis.
Diluted GAAP earnings per share (EPS) was $1.73, up 4.8%.
Diluted adjusted EPS, a non-GAAP measure, was $1.82, up 5.2%.
Net cash provided by operating activities was $390 million, down 12.2% and free cash flow, a non-GAAP measure, was $326 million, down 16.5%, due to a tax refund received in the prior year and higher interest payments.
Paid a cash dividend of 50 cents per share on March 31, 2026.
Executed a $1.5 billion Accelerated Share Repurchase Program.
JERSEY CITY, N.J., April 29, 2026 (GLOBE NEWSWIRE) -- Verisk (NASDAQ:VRSK), a leading strategic data analytics and technology provider to the global insurance industry, today announced results for the first quarter ended March 31, 2026. The earnings release is available on the company's Investor Relations website at investor.verisk.com.
Lee Shavel, President and CEO, Verisk:"Verisk started the year by delivering continued growth across the business. We have confidence that our operating momentum will build throughout the year as we continue to deepen client relationships and invest in innovation that addresses the industry's most critical challenges. Our proprietary datasets and distinctive insights are competitive advantages that enable us to introduce new and effective AI solutions into core insurance workflows and decision making. Our powerful economic model will continue to create long-term value for clients and shareholders alike."
Elizabeth Mann, CFO, Verisk:"In the first quarter, Verisk delivered organic constant currency revenue growth of 4.7% and OCC adjusted EBITDA growth of 5.9%. During the quarter we executed a $1.5 billion accelerated share repurchase program while continuing to invest back into our business. We have confidence that as we move throughout the year, our growth will return to levels consistent with our long-term targets and as a result, we are reaffirming our financial guidance for 2026."
Financial HighlightsSummary of Results (GAAP and Non-GAAP) ($ in millions, except per share amounts)Note: Adjusted EBITDA, diluted adjusted EPS, and free cash flow are non-GAAP measures.
Three Months Ended
March 31,
2026
2025
% Change
Revenues
$
783
$
753
3.9
%
Net income
234
232
0.8
Adjusted EBITDA
438
417
5.0
Diluted EPS attributable to Verisk
1.73
1.65
4.8
Diluted adjusted EPS
1.82
1.73
5.2
Effective tax rate
24.1
%
21.6
%
2.5
Net cash provided by operating activities
390
445
(12.2
)
Free cash flow
326
391
(16.5
)
Dividends per share
0.50
0.45
11.1
Revenue($ in millions)Note: OCC revenue growth is a non-GAAP measure. See "Non-GAAP Reconciliations" on pages 11-12 for a reconciliation to the nearest GAAP measure.
Three Months Ended
March 31,
% Change
2026
2025
Reported
OCC
Underwriting
$
552
$
532
3.8
%
5.3
%
Claims
231
221
4.3
3.4
Insurance
$
783
$
753
3.9
4.7
Underwriting revenues increased 3.8% in the quarter and 5.3% on an OCC basis, primarily due to price increases derived from continued enhancements to our forms, rules and loss cost solutions. In addition, increased sales to new clients as well as expanded renewals with existing clients drove growth within catastrophe and risk solutions, specialty business solutions, and life solutions.
Claims revenues increased 4.3% in the quarter and 3.4% on an OCC basis, primarily due to improved value realization in our anti-fraud analytics and sales to new customers within casualty solutions. This was offset by modest declines in our property and restoration solutions.
Net Income, Adjusted EBITDA and Adjusted EBITDA Margin($ in millions)Note: Adjusted EBITDA is a non-GAAP measure. Margin is calculated as a percentage of revenues. See "Non-GAAP Reconciliations" on pages 11-12 for a reconciliation to the nearest GAAP measure.
Net income was $234 million, an increase of 0.8% in the quarter. The increase in net income was mainly driven by operating leverage on the revenue growth and cost discipline, partially offset by increases in the effective tax rate and net interest expense.
Three Months Ended
March 31,
% Change
Margin
2026
2025
Reported
OCC
2026
2025
Adjusted EBITDA
$
438
$
417
5.0
%
5.9
%
55.9
%
55.3
%
Adjusted EBITDA increased 5.9% in the quarter on an OCC basis, primarily due to operating leverage on the revenue growth and cost discipline.
Diluted EPSNote: Diluted adjusted EPS is a non-GAAP measure. See "Non-GAAP Reconciliations" on pages 11-12 for a reconciliation to the nearest GAAP measure.
Three Months Ended
March 31,
2026
2025
% Change
Diluted EPS attributable to Verisk
$
1.73
$
1.65
4.8
%
Diluted adjusted EPS
$
1.82
$
1.73
5.2
%
Diluted EPS and diluted adjusted EPS increased 4.8% and 5.2% in the quarter, respectively, both reflecting strong operational performance and a lower average share count, partially offset by increased net interest expense and a higher effective tax rate.
Cash Flow and Capital Return($ in millions)Note: Free cash flow is a non-GAAP measure.
Three Months Ended
March 31,
2026
2025
% Change
Net cash provided by operating activities
$
390.4
$
444.7
(12.2
)%
Capital expenditures
(64.0
)
(53.7
)
19.2
Free cash flow
$
326.4
$
391.0
(16.5
)
Net cash provided by operating activities decreased 12.2% in the quarter, while free cash flow decreased 16.5% in the quarter.
The decrease in net cash provided by operating activities and free cash flow was primarily driven by a tax refund received in the prior year that did not recur in the current year, as well as higher interest payments. The increase in interest payments was the result of higher debt balances in the quarter offset in part by higher interest income earned on cash.
On March 31, 2026, we paid a cash dividend of 50 cents per share of common stock issued and outstanding to the holders of record as of March 13, 2026.
In the first quarter of 2026, we entered into a $1.5 billion Accelerated Share Repurchase program and received an initial delivery of 6,986,302 shares of our common stock at an initial price of $182.50, representing approximately 85 percent of the aggregate purchase price. Additionally, we repurchased $126.1 million of our common stock through open market repurchases, and received 583,042 shares at an average price per share of $216.24. As of March 31, 2026, we had $1.0 billion remaining under our share repurchase authorization.
Full Year 2026 Outlook
Full Year 2026 Guidance
($ in millions, except per share amounts)
Low
High
Total revenue
$
3,190
$
3,240
Adjusted EBITDA
$
1,790
$
1,830
Adjusted EBITDA margin
56.0
%
56.5
%
Diluted adjusted EPS
$
7.45
$
7.75
Tax rate
23.0
%
26.0
%
Capital expenditures
$
260
$
280
Fixed asset depreciation & amortization
$
270
$
290
Intangible amortization
$
60
$
60
Interest expense
$
190
$
200
Dividend per share
$
2.00
$
2.00
Subsequent Events
On April 27, 2026, our Board of Directors approved a cash dividend of 50 cents per share of common stock issued and outstanding, payable on June 30, 2026, to holders of record as of June 15, 2026.
Conference Call
Our management team will host a live audio webcast to discuss the financial results and business highlights on Wednesday, April 29, 2026, at 8:30 a.m. EDT (5:30 a.m. PDT, 12:30 p.m. GMT). All interested parties are invited to listen to the live event via webcast on our investor website at http://investor.verisk.com. The discussion will also be available through dial-in number 1-833-461-5787 for U.S. participants, 1-365-657-4048 for Canada participants, or 1-44-808-196-8935 for U.K. participants.
A replay of the webcast will be available for up to 1 year on our investor website.
About Verisk
Verisk is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, catastrophic events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work.
Verisk is traded on the Nasdaq exchange and is a part of the S&P 500 Index and the Nasdaq-100 Index.
For more information, please visit www.verisk.com.
Contact:
Investor RelationsStacey BrodbarHead of Investor RelationsVerisk 201-469-4327 [email protected]
MediaAlberto CanalVerisk Public Relations201-469-2618[email protected]
Forward-Looking Statements
This release contains forward-looking statements, including those related to our Full Year 2026 Outlook and financial guidance. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. This includes, but is not limited to, our expectation and ability to pay a cash dividend on our common stock in the future, subject to the determination by our Board of Directors and based on an evaluation of our earnings, financial condition and requirements, business conditions, capital allocation determinations, and other factors, risks, and uncertainties. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "target," "seek," "anticipate," "believe," "estimate," "predict," "potential," or "continue" or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements, because they involve known and unknown risks, uncertainties, and other factors that are, in some cases, beyond our control and that could materially affect actual results, levels of activity, performance or achievements.
Other factors that could materially affect actual results, levels of activity, performance, or achievements can be found in our quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K filed with the Securities and Exchange Commission. If any of these risks or uncertainties materialize or if our underlying assumptions prove to be incorrect, actual results may vary significantly from what we projected. Any forward-looking statement in this release reflects our current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to our operations, results of operations, growth strategy, and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise except as required by law.
Notes Regarding the Use of Non-GAAP Financial Measures
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 other companies. We believe that our presentation of non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. In addition, our management uses these measures for reviewing our financial results, for budgeting and planning purposes, and for evaluating the performance of senior management.
EBITDA, Adjusted EBITDA, and Adjusted EBITDA Expenses: EBITDA represents GAAP net income adjusted for (i) depreciation and amortization of fixed assets; (ii) amortization of intangible assets; (iii) interest expense, net; and (iv) provision for income taxes. Adjusted EBITDA represents EBITDA adjusted for acquisition-related adjustments (earn-outs), gain/loss from dispositions (which includes businesses held for sale), and nonrecurring gain/loss. Adjusted EBITDA expenses represent adjusted EBITDA net of revenues. We believe these measures are useful and meaningful because they help us allocate resources, make business decisions, allow for greater transparency regarding our operating performance, and facilitate period-to-period comparison.
Adjusted Net Income and Diluted Adjusted EPS: Adjusted net income represents GAAP net income adjusted for (i) amortization of intangible assets, net of tax; (ii) acquisition-related adjustments (earn-outs), net of tax; (iii) gain/loss from dispositions (which includes businesses held for sale), net of tax; and (iv) nonrecurring gain/loss, net of tax. Diluted adjusted EPS represents adjusted net income divided by weighted-average diluted shares. We believe these measures are useful and meaningful because they allow evaluation of the after-tax profitability of our results excluding the after-tax effect of acquisition-related costs and nonrecurring items.
Free Cash Flow: Free cash flow represents net cash provided by operating activities determined in accordance with GAAP minus payments for capital expenditures. We believe free cash flow is an important measure of the recurring cash generated by our operations that may be available to repay debt obligations, repurchase our stock, invest in future growth through new business development activities, or make acquisitions.
Organic: Organic is defined as operating results excluding the effect of recent acquisitions and dispositions (which include businesses held for sale), and nonrecurring gain/loss associated with cost-based and equity-method investments that have occurred over the past year. An acquisition is included as organic at the beginning of the calendar quarter that occurs subsequent to the ...
