Bowhead Specialty Holdings Inc. (BOW) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	642.1M	551.5M	425.6M	283.4M	187.6M
Cost of Revenue	393.7M	374.5M	280.5M	187.2M	127.0M
Gross Profit	248.4M	177.0M	145.1M	96.2M	60.6M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	44.0M	—	—	—	—
General & Admin Expense	27.0M	—	—	—	—
Selling & Marketing Expense	17.0M	—	—	—	—
Other Expenses	126.3M	109.7M	94.6M	64.1M	46.0M
Total Operating Expenses	170.2M	109.7M	94.6M	64.1M	46.0M
Cost and Expenses	564.0M	484.2M	375.1M	251.3M	172.9M
Operating Income (EBIT)	78.2M	67.3M	50.5M	32.1M	14.7M
Non-Operating
Interest Income	—	—	—	—	—
Interest Expense	7.7M	2.0M	725.0K	—	—
Net Interest Income	(7.7M)	(2.0M)	(725.0K)	—	—
Other Non-Op Income/Expense	(3.2M)	—	—	—	—
Non-Operating Income (excl Interest)	(7.7M)	(2.0M)	(725.0K)	—	—
EBT (Pre-Tax Income)	74.9M	67.3M	50.5M	32.1M	14.7M
Income Tax Expense	15.0M	13.5M	12.3M	7.1M	3.4M
Bottom Line
Net Income	59.9M	53.8M	38.2M	25.0M	11.3M
Earnings from Cont. Ops	59.9M	53.8M	38.2M	25.0M	11.3M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	59.9M	53.8M	38.2M	25.0M	11.3M
Per Share
Basic EPS	$1.82	$1.64	$1.31	$0.79	$0.36
Diluted EPS	$1.78	$1.59	$1.29	$0.79	$0.36
Revenue Per Share	$19.49	$16.82	$14.54	$8.99	$5.95
Shares
Basic Shares Outstanding	32.9M	32.8M	29.3M	31.5M	31.5M
Diluted Shares Outstanding	34.3M	33.7M	29.7M	31.5M	31.5M
Profitability Metrics
EBITDA	87.7M	71.1M	55.1M	34.4M	15.4M
D&A	1.9M	1.8M	3.9M	2.3M	727.0K
EBIT	85.8M	69.3M	51.3M	32.1M	14.7M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026