Oxbridge Re Holdings reported its third‑quarter 2025 results, posting total revenue of $645,000 and a net loss of $187,000, which translates to a diluted earnings‑per‑share figure of –$0.02. The company’s consensus estimate for earnings was –$0.02, so the EPS beat was neutral in magnitude but met expectations exactly, while revenue fell 14‑25 % below the $742,000–$756,840 consensus range.
Revenue was driven by net premiums earned of $555,000, a decline from $595,000 in the same quarter last year, largely due to a lower weighted‑average rate on reinsurance contracts. Operating expenses rose to $815,000 from $498,000 year‑ago, reflecting higher professional, legal, and Web3‑related costs, including those associated with the SurancePlus subsidiary. The combination of lower premium income and higher expenses produced a net loss that narrowed from $540,000 in Q3 2024 to $187,000 in Q3 2025.
Comparing the quarter to the prior year, revenue jumped from $205,000 to $645,000, a 214 % increase, but net premiums earned slipped 7 % and expenses surged 63 %. The net loss improvement of $353,000 reflects both the higher revenue base and the company’s ability to control costs relative to the growth in expenses.
The company recorded a $2.293 million reserve for losses related to Hurricane Milton, with a net equity impact of $1.18 million after allocations to token holders. This reserve contributed to the higher expense load and the net loss figure, underscoring the impact of weather‑related claims on the quarter’s profitability.
During the earnings call, Chairman and CEO Sanjay Madhu highlighted the company’s tokenized reinsurance program, noting that disciplined underwriting has delivered attractive, high‑quality, uncorrelated returns in a compliant, accessible format. He also emphasized the role of the SurancePlus Web3 subsidiary in expanding investor participation and driving future growth.
Investors reacted negatively to the revenue miss, which was the primary driver of the market’s disappointment, even though the earnings per share met consensus estimates and the net loss narrowed year‑over‑year. The revenue shortfall highlighted ongoing pricing pressure and the need for continued focus on premium mix and cost discipline.
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