===Doma Holdings (NYSE: DOMA) reported earnings on Tue 12 March 24 (a/h)

 

SAN FRANCISCO--Doma Holdings, Inc. (NYSE: DOMA), a leading force for disruptive change in the real estate industry, today reported financial results and key operating data for the three months and twelve months ended December 31, 2023.

Fourth Quarter 2023 Business Highlights:

• Total revenues of $85 million, up 11% versus Q3 2023
• Retained premiums and fees of $17 million, up 7% versus Q3 2023
• Gross profit of $5 million, up 56% versus Q3 2023
• Adjusted gross profit of $8 million, up 29% versus Q3 2023
• Net loss of $18 million, compared to a net loss of $22 million in Q3 2023
• Adjusted EBITDA loss of $3 million, compared to a loss of $5 million in Q3 2023

“2023 was a transformational year for Doma. As we continued to navigate challenging market conditions, we successfully executed significant cost reduction actions, divested our non-core local agency operations, and streamlined our business to focus on our core strengths and to support our invaluable customers,” said Max Simkoff, CEO of Doma. “We narrowed our strategy to better address the ever-growing market demand for more affordable and tech-driven title insurance offerings, including the launch of an innovative, new product, called Upfront Title.”