Verisk Analytics, Inc.

“Verisk is a leading data, analytics, and technology provider serving clients in the insurance ecosystem.”

“We operate in one segment, Insurance.”

“During the year ended December 31, 2025, approximately 70% of our revenue was derived from solutions provided to U.S. P&C primary insurers.”

“To optimize account management for our largest customers, we segment our client base into three distinct tiers.”

“We provide policy language, prospective loss costs, policy writing and rating rules, and a variety of underwriting solutions for risk selection and segmentation, pricing, and workflow optimization across 32 lines of insurance.”

“Approximately 83% and 81% of our consolidated revenues for the years ended December 31, 2025 and 2024, respectively, were derived from hosted subscriptions through agreements for our solutions.”

“we offer a full suite of solutions to support our P&C clients across the insurance policy lifecycle”

“we have solutions that allow our customers to access property-specific rating and underwriting information to price a policy on a commercial building, or compare a P&C insurance or a workers' compensation claim with information in our databases”

“In 2023, with our migration to cloud computing, we closed our Lehi, Utah Data Center, and in 2024, we closed our Somerset, New Jersey facility.”

“The data we use to perform our analytics and power our solutions is sourced through seven different kinds of data arrangements.”

“Our capital expenditures for the years ended December 31, 2025, 2024, and 2023 were $244.1 million, $223.9 million, and $230.0 million, respectively.”

“A significant change in the profitability of P&C insurers could affect the demand for our solutions.”

“We completed the sale of our Energy business on February 1, 2023.”

“We believe that Verisk is uniquely positioned with a series of competitive differentiators including”

“We are modernizing and advancing the capabilities of our core solutions using cloud technology and advanced analytical methods including machine learning and artificial intelligence ("AI")”

“Personnel expenses, which represented approximately 55% and 56% of our total operating expenses for each of the years ended December 31, 2025 and 2024”

“We had total debt, excluding finance lease obligations, unamortized discounts and premium, and debt issuance costs, of $4,750.0 million and $3,050.0 million at December 31, 2025 and 2024, respectively.”

“As of December 31, 2025 and 2024, we had cash and cash equivalents and available-for-sale securities totaling $2,178.9 million and $292.5 million, respectively.”

“For the years ended December 31, 2025, 2024, and 2023, we repurchased $624.0 million, $1,005.0 million, and $2,762.3 million, respectively, of our common stock.”

“the commitment of each lender automatically terminated on such date, and the Term Loan Facility was terminated in full on December 26, 2025”

“Goodwill at December 31, 2025 $1,878.2”

“We also own in excess of 600 trademarks in the U.S. and foreign countries”

“we process approximately 2,000 regulatory filings and interface with state regulators in all 50 states plus the District of Columbia, Guam, Puerto Rico, and the Virgin Islands each year”

“We could lose our access to data from external sources, which could prevent us from providing our solutions.”

“If there is a downturn in the U.S. insurance industry or that industry does not continue to accept our solutions, our revenues will decline.”

“Markets in which we operate or which we believe may provide growth opportunities for us are highly competitive, and are expected to remain highly competitive.”

“We may fail to attract and retain enough qualified employees to support our operations”

“To the extent the availability of free or relatively inexpensive information increases, the demand for some of our solutions may decrease.”

“We have substantially completed the implementation of a company-wide, single ERP software system”

“Physical and transition risks associated with climate change and its consequences could disrupt operations, threaten the safety of employees, or negatively impact our financial performance.”