01—Abstract
Summary
Summary of the 10-Q filed July 29, 2026. Cited figures are marked; the original filing is the authoritative source.
Verisk Analytics, Inc. reported revenues of $806.3 milliona for the quarter ended June 30, 2026, up from $772.6 million a year earlier, and $1,588.9 million for the six months, up from $1,525.6 million.
Operating income rose to $363.7 millionb for the quarter from $354.3 million, but net income fell to $228.6 million from $253.3 million, reflecting higher interest expense of $52.8 million (versus $35.5 million), a higher effective tax rate of 24.6%, and $6.5 million of equity-method losses. Selling, general and administrative expenses rose 20.8% for the quarter, which the company attributes partly to AccuLynx-related costs, and EBITDA margin declined to 54.2% from 57.7%. The balance sheet shifted sharply during the period as the company returned capital to shareholders.
Cash and cash equivalents fell to $551.4 millionc from $2,178.2 million at year-end 2025, and total stockholders' deficit reached $(1,189.0) million, compared with positive equity of $309.8 million at December 31, 2025. Treasury stock acquired totaled $1,571.9 million in the six months, including accelerated share repurchase agreements funded partly by a $750.0 million revolver draw and a $500.0 million Term Loan Facility. Total debt, excluding finance leases and discounts, was $4,500.0 million at June 30, 2026, versus $4,750.0 million at year-end.
Operating cash flow of $756.4 milliond for the six months rose 9.8%. The filing also details ongoing litigation, including telematics class actions, a Daniel's Law suit, a trade secrets case brought by JPMorgan Chase Bank, and the AccuLynx merger dispute, where trial concluded in June 2026 and post-trial briefing is ongoing; the company states it cannot reasonably estimate possible losses for these matters. The Board declared a $0.50 per share dividend on July 27, 2026, payable September 30, 2026.
02—Key points
Key Highlights
- Q2 2026 revenues of $806.3 million, up 4.3% from $772.6 million; six-month revenues of $1,588.9 million, up 4.1%
- Q2 2026 net income of $228.6 million, down 9.8% from $253.3 million, driven by higher interest expense and a 24.6% effective tax rate
- Quarterly EBITDA of $436.8 million with EBITDA margin of 54.2%, versus 57.7% a year earlier, attributed mainly to AccuLynx-related legal fees
- Stockholders' deficit of $(1,189.0) million at June 30, 2026, versus positive equity of $309.8 million at December 31, 2025, following $1,571.9 million of treasury stock acquired in the six months
- Cash and cash equivalents of $551.4 million, down from $2,178.2 million at December 31, 2025; total debt of $4,500.0 million excluding finance leases and discounts
- Board approved a $0.50 per share quarterly dividend on July 27, 2026, payable September 30, 2026; $800.0 million remains under the repurchase authorization
- AccuLynx merger litigation went to trial June 23-26, 2026, with post-trial briefing ongoing; the company cannot yet estimate possible loss
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q2 FY2026, Verisk Analytics kept $0.28.
- Revenue$806.3M100.0%
- Cost of revenue−$233.4M28.9%
- Gross profit$572.9M71.1%
- Operating costs−$209.2M25.9%
- Operating income$363.7M45.1%
- Interest, other & tax−$135.1M16.8%
- Net income$228.6M28.4%
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2026filed July 29, 2026Financial Statements
Q2 FY2026 against Q2 FY2025
| Line item | Q2 FY2026Q2 FY2025 | Change |
|---|---|---|
| Revenue | $806.30M$772.60M | +4.4% |
| Cost of Revenue | $233.40M$229.50M | +1.7% |
| Gross Profit | $572.90M$543.10M | +5.5% |
| SG&A Expenses | $128.60M$106.50M | +20.8% |
| Operating Expenses | $442.60M$418.30M | +5.8% |
| Operating Income | $363.70M$354.30M | +2.7% |
| Net Income | $228.60M$253.30M | −9.8% |
| EPS (Basic) | $1.75$1.81 | −3.3% |
| EPS (Diluted) | $1.75$1.81 | −3.3% |
| Shares Outstanding (Basic) | 130.76M139.82M | −6.5% |
| Shares Outstanding (Diluted) | 130.85M140.34M | −6.8% |
05—Questions
Frequently Asked Questions
Why did net income decline even though revenue grew?
Operating income rose to $363.7 million from $354.3 million, but interest expense, net increased to $52.8 million from $35.5 million, the effective tax rate rose to 24.6% from 22.7%, and investment results swung to a $7.5 million loss. The filing attributes the higher interest expense to the February 2026 senior notes, Term Loan Facility interest, and lower interest income.
What drove the increase in SG&A expenses?
Selling, general and administrative expenses rose $22.1 million, or 20.8%, to $128.6 million for the quarter. The company said acquisition, disposition and AccuLynx-related costs added a net $16.3 million, with the remaining increase mainly from professional consulting fees and salaries and benefits.
How did the company fund its share repurchases?
Repurchases of $1,571.9 million in cash for the six months were funded with operating cash flow and borrowings. The company drew $750.0 million on its revolving credit facility, which it later repaid, and used a $500.0 million Term Loan Facility, of which $250.0 million was outstanding at June 30, 2026. Accelerated share repurchase agreements were settled in July 2026.
What are the main legal risks disclosed?
The filing describes telematics class actions tied to consumer driving data, a Daniel's Law lawsuit, a JPMorgan Chase trade secrets suit, an indemnification claim tied to a divested subsidiary's Nepalese tax matter, and the AccuLynx merger dispute. For each, the company states it is not possible to reasonably estimate the possible loss at this stage.
06—Continue