Fourth Quarter Highlights
- Revenue was $779 million, up 5.9%, and up 5.2% on an organic constant currency (OCC) basis, a non-GAAP measure.
- Net income was $197 million, down 6.2% due to gains recognized in the prior year.
- Adjusted EBITDA, a non-GAAP measure, was $437 million, up 9.8%, and up 6.2% on an OCC basis.
- Diluted GAAP earnings per share was $1.42, down 1.4%.
- Diluted adjusted EPS, a non-GAAP measure, was $1.82, up 13.0%.
- Net cash provided by operating activities was $343 million, up 34.4% and free cash flow, a non-GAAP measure, was $276 million, up 38.0%.
- We paid a cash dividend of 45 cents per share on December 31, 2025. Our Board of Directors approved a cash dividend of 50 cents per share payable on March 31, 2026, an increase of 11%.
- Our Board approved an increase to the share repurchase authorization to $2.5 billion in total.
Full-Year 2025 Highlights
- Revenue was $3,073 million, up 6.6%, and up 6.6% on an OCC basis.
- Net income was $908 million, down 5.1% due to gains recognized in the prior year.
- Adjusted EBITDA, a non-GAAP measure, was $1,727 million, up 9.6%, and up 8.5% on an OCC basis.
- Diluted GAAP earnings per share was $6.48, down 2.7%.
- Diluted adjusted EPS was $7.16, up 7.8%.
- Net cash provided by operating activities was $1,436 million, up 25.5%, and free cash flow was $1,192 million, up 29.5%.
JERSEY CITY, N.J., Feb. 18, 2026 (GLOBE NEWSWIRE) — Verisk (Nasdaq: VRSK), a leading strategic data analytics and technology partner to the global insurance industry, today announced results for the fourth quarter and fiscal year ended December 31, 2025. The earnings release is available on the company’s Investor Relations website at investor.verisk.com.
Lee Shavel, President and CEO, Verisk:
“Verisk delivered a solid fourth quarter result, capping off another year of growth in line with our long-term financial targets. We enter 2026 with clear strategic momentum and are capitalizing on the substantial opportunity to support our clients’ objectives in a rapidly evolving environment. With our industry expertise, client relationships and deep integrations and proprietary and unmatched data sets, we have deployed generative and agentic AI solutions that are being used by our clients, and we believe we are uniquely positioned to create value for the industry and shareholders alike as we deploy this evolving technology. We continue to have confidence in our ability to deliver results in line with our long-term growth targets for 2026 and beyond.”
Elizabeth Mann, CFO, Verisk:
“In the fourth quarter, Verisk delivered solid results closing out another strong year with growth and profitability in line with our long-term growth targets. Despite some temporary factors that negatively impacted growth including a very low level of weather activity in the year, Verisk delivered OCC revenue growth of 6.6%, OCC adjusted EBITDA growth of 8.5% and strong free cash flow growth in 2025. I am excited to share that our board has approved an 11% increase in our dividend and an increase in our share repurchase authorization, which we expect to implement through a $1.5 billion accelerated share repurchase program in the near term, demonstrating our confidence in our economic model and our commitment to capital return.”
Financial Highlights
Summary of Results (GAAP and Non-GAAP) from Continuing Operations
($ in millions, except per share amounts)
Note: Adjusted EBITDA, diluted adjusted EPS, and free cash flow are non-GAAP measures.
Revenue
($ in millions)
Note: OCC revenue growth is a non-GAAP measure. See “Non-GAAP Reconciliations” below for a reconciliation to the nearest GAAP measure.
*Beginning with the first quarter of 2025, an immaterial component of our Insurance segment was transferred from Claims to Underwriting in calculating the OCC change percentage. The transfer has no impact on the OCC growth rates for our Insurance segment.
- Underwriting revenues increased 8.7% in the fourth quarter and 7.2% on an OCC basis. For the full year 2025, underwriting revenues increased 7.7% and 7.0% on an OCC basis. The increase in underwriting revenues was due to our forms, rules and loss cost services and catastrophe and risk solutions. Life solutions and specialty business solutions also contributed to the growth.
- Claims revenues decreased 0.7% in the fourth quarter and increased 0.5% on an OCC basis, primarily due to a decrease in property estimating solutions, offset by growth in anti-fraud solutions. For the full year 2025, claims revenues increased 4.1% and 5.7% on an OCC basis, primarily due to growth in anti-fraud, property estimating and casualty 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” below for a reconciliation to the nearest GAAP measure.
- Net income was $197 million, a decrease of 6.2% in the quarter. For the full year 2025, net income was $908 million, a decrease of 5.1%. The decrease in net income was attributable to net gains recognized in the prior year from the settlement of investments in non-public company as well as the amortization of deferred issuance costs and original issuance discounts and redemption premium accrual in the current year associated with the termination of the 2030 Senior Notes, 2036 Senior Notes, and Term Loan Facility, partially offset by a lower income tax provision.
- Adjusted EBITDA increased 6.2% in the quarter on an OCC basis. For the full year 2025, adjusted EBITDA increased 8.5% on an OCC basis. The increase in adjusted EBITDA was primarily due to operating leverage on the revenue growth and cost discipline.
Diluted Earnings Per Share
Note: Adjusted earnings per share is a non-GAAP measure. See “Non-GAAP Reconciliations” below for a reconciliation to the nearest GAAP measure.
- Diluted EPS attributable to Verisk decreased 1.4% in the quarter. For the full year 2025, diluted EPS attributable to Verisk decreased 2.7%. The decrease in net income was attributable to net gains recognized in the prior year from the settlement of investments in non-public company as well as the amortization of deferred issuance costs and original issuance discounts and redemption premium accrual in the current year associated with the termination of the 2030 Senior Notes, 2036 Senior Notes, and Term Loan Facility, partially offset by a lower income tax provision.
- Diluted adjusted EPS increased 13.0% in the quarter. For the full year 2025, diluted adjusted EPS increased 7.8%, reflecting strong operational performance and a lower average share count, partially offset by increased net interest and depreciation expenses.
Cash Flow and Capital Return
($ in millions)
Note: Free cash flow is a non-GAAP measure. See “Non-GAAP Reconciliations” below for a reconciliation to the nearest GAAP measure.
- In the fourth quarter 2025, net cash provided by operating activities increased 34.4%, while free cash flow increased 38.0%. The increase in operating cash flow was due to an increase in operating profit, the timing of cash payments, and higher interest income earned on cash balances.
- For the full year 2025, net cash provided by operating activities increased 25.5%, while free cash flow increased 29.5%. The increase in operating cash flow was due to an increase in operating profit, lower cash tax payments, and higher interest income earned on cash balances.
Full Year 2026 Outlook
Portfolio Actions
In December 2025, we delivered a notice to terminate our definitive agreement to acquire AccuLynx following the notification by the U.S. Federal Trade Commission that it had not completed its review of the transaction by December 26, 2025, the termination date set forth in the agreement.
During the fourth quarter, we sold Verisk Marketing Solutions (VMS), which was part of Verisk’s underwriting subsegment. VMS contributed $68.0 million to our consolidated revenue in 2025.
Subsequent Events
On January 6, 2026, pursuant to the special mandatory redemption provision related to the termination of AccuLynx, we repaid the $1,500.0 million aggregate principal amount of the 2030 Senior Notes and 2036 Senior Notes.
On February 13, 2026, our Board of Directors approved a cash dividend of 50 cents per share of common stock issued and outstanding, payable on March 31, 2026, to holders of record as of March 13, 2026. Our Board of Directors also approved an increase to the share repurchase authorization to $2.5 billion in total, inclusive of the remaining authorization amount.
Conference Call
Our management team will host a live audio webcast to discuss the financial results and business highlights on Wednesday, February 18, 2026, at 8:30 a.m. EST (5:30 a.m. PST, 1:30 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 800-715-9871 for U.S./Canada participants or 646-307-1963 for international participants.
A replay of the webcast will be available for 30 days on our investor website and through the conference call number 800-770-2030 for U.S./Canada participants or 647-362-9199 for international participants using Conference ID #9964974.
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, extreme 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 and fosters an inclusive culture where all team members feel they belong.
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.
Source: Verisk Earnings Report
