Accelerant Holdings (NYSE:ARX) stock jumped about 44% Thursday after the specialty insurance company agreed to be acquired by Thoma Bravo and reported better-than-expected second-quarter 2026 results.
Accelerant reported adjusted earnings of 32 cents per share, topping the analyst estimate of 16 cents. Revenue of $356.9 million also beat the consensus estimate of $279.23 million.
Earnings Snapshot
Second-quarter revenue rose sharply from $219.1 million a year earlier. Exchange Written Premium increased 23% year over year to $1.32 billion, while Third-Party Direct Written Premium accounted for 47% of Exchange Written Premium volume.
Net income climbed to $80 million from $13.1 million a year earlier. Adjusted net income rose 165% to $70 million, while adjusted earnings per diluted share increased 146% to 32 cents.
Adjusted EBITDA increased to $93.1 million from $63.6 million a year earlier. The company reported an adjusted EBITDA margin of 30.6%, compared with 29% in the prior-year quarter.
Accelerant also repurchased about 4.73 million Class A common shares for $66 million during the quarter. About $123 million remained under its share repurchase authorization.
Thoma Bravo Deal Sends Shares Soaring
The earnings release came alongside Accelerant’s announcement that it agreed to be acquired by private equity firm Thoma Bravo in an all-cash transaction valued at more than $4 billion.
Accelerant’s Class A and Class B shareholders will receive $20.25 per share in cash. The offer represents a 49% premium to the stock’s closing price on Aug. 12.
It also has a potential 6% annual ticking fee if closing is delayed due to certain insurance regulatory approvals.
The transaction is expected to close in the first half of 2027, subject to shareholder and regulatory approvals. Entities affiliated with Altamont Capital Partners, which hold about 82% of Accelerant’s outstanding voting rights, have agreed to vote in favor of the deal.
After the transaction closes, Accelerant will become privately held and its shares will no longer trade on the New York Stock Exchange. Altamont Capital Partners and Accelerant’s founders intend to retain equity ownership alongside Thoma Bravo.
Accelerant canceled its scheduled second-quarter earnings conference call following the deal announcement. The company also said it will not provide third-quarter or full-year 2026 guidance because of the pending transaction.
ARX Price Action: Accelerant shares were trading up 44.16% at $19.62 during premarket trading on Thursday, according to Benzinga Pro data.
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