Short answer
NI Holdings, Inc. (NODK) filed its Q3 2025 10-Q quarterly report on Nov 7, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $77M (down 14.0% year over year) with net income of −$2M.
Q3 2025 key financials · XBRL
- Revenue
- $77M
- −14.0% YoY · +0.7% QoQ
- Net income
- −$2M
- +72.6% YoY · +86.2% QoQ
- Gross margin
- 20.5%
- EPS (diluted)
- −$0.08
- +72.4% YoY · +86.2% QoQ
Source: XBRL data from the NI Holdings, Inc. (NODK) Q3 2025 10-Q on SEC EDGAR. USD.
NI Holdings, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Net premiums earned $71,905, down $11,365 or 13.6% YoY
- Combined ratio 109.1% vs 111.0%; expense ratio 30.9% vs 32.8%
- Best segment Private Passenger Auto: underwriting gain $2,527, combined ratio 89.1%
- Worst segment Non-Standard Auto: underwriting loss $9,464, combined ratio 187.1%
- Operating cash flow $(28,511) vs $16,780; cash and investments $365,238, with $1,387 used for share repurchases
Risk Factors
- New strategic risk triggered by ceasing new and renewal policies in Non-Standard Auto
- Strategic execution risk from delayed implementation or incomplete information, potentially reducing premium volume
- New tariff risk from recently announced U.S. trade policies, increasing claim severity through higher imported-goods costs
- Market risk from tariff-driven inflation, economic volatility, and declining consumer confidence
- Carried-forward reserve risk from actuarial estimates based on historical claims and anticipated trends
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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