Key Highlights

● Revenue was $806 million, up 4.3% reported and 5.8% organic.

● Net income was $228.6 million, down 9.8%.

● Verisk carried out a $200 million accelerated share repurchase.

● Full-year 2026 revenue guidance is $3,190 million to $3,240 million.

Verisk Analytics, Inc. (NASDAQ:VRSK) reported its second-quarter 2026 results on 29 July 2026. Revenue was $806 million, up 4.3%, and the company left its full-year 2026 guidance unchanged. It also carried out a $200 million accelerated share repurchase during the quarter.

Business and sector

Verisk supplies data analytics to insurance and other markets. Its Underwriting segment provides risk assessment tools, and its Claims segment supports claims handling and fraud detection. The company works in a sector where insurers depend on proprietary datasets, catastrophe modelling and software, and where artificial intelligence is being used to improve data processing. Chief executive Lee Shavel cited continued investment in proprietary datasets and artificial intelligence.

Latest results

Revenue for the quarter ended 30 June 2026 was $806 million, up 4.3% reported and 5.8% on an organic constant currency basis. Underwriting revenue was $569 million, up 3.5%, or 5.6% organic constant currency. Claims revenue was $237 million, up 6.3%, or 6.1% organic constant currency.

Net income was $228.6 million, down 9.8%, and diluted GAAP earnings per share were $1.75, down 3.3%. Adjusted EBITDA was $463.6 million, up 4.2%, with a margin of 57.5% compared with 57.6%. Diluted adjusted earnings per share rose 5.3% to $1.98.

Financial performance and industry context

Operating cash flow was $366 million, up 49.7%, and free cash flow was $297.9 million, up 57.9%. Net interest expense rose to $52.8 million from $35.5 million, and the effective tax rate was 24.6% against 22.7%. Acquisition-related fees were $18.7 million. At 30 June 2026 the company held cash of $551.4 million and total debt of about $4,473.5 million.

Over six months, revenue was $1,589 million, up 4.1%, and free cash flow was $624 million. The company funded about $1.9 billion of repurchases in the period, receiving around 8.5 million shares at an average price of $186.32. The $200 million accelerated programme delivered an initial 949,190 shares at $179.10, and $800 million of authorisation remained at quarter end. A dividend of $0.50 per share was paid on 30 June and another of $0.50 is payable on 30 September 2026.

Chief financial officer Elizabeth Mann said underlying subscription revenue grew 8.0% and that growth should move back towards Investor Day targets in the second half. For 2026 Verisk guides to revenue of $3,190 million to $3,240 million, adjusted EBITDA of $1,790 million to $1,830 million and diluted adjusted earnings per share of $7.45 to $7.75.

Risks and uncertainties

The second-half recovery that management describes is an expectation, not a result, and reported growth of 4.3% trails the organic figure because of currency and portfolio effects. Higher interest costs follow from the increased borrowing used to fund buybacks, and net income was lower than a year earlier. Insurance customers' budgets, regulatory scrutiny of data and models, and competition from other analytics providers could influence demand.

Second-half recovery and the interest burden

The third-quarter report will indicate whether organic growth accelerates as management expects and whether guidance remains intact. Other points to watch include the pace of further repurchases, leverage, the integration of acquisitions and the contribution of new artificial intelligence products. Investors may also compare underlying subscription growth of 8.0% with the second-half recovery the chief financial officer described, and watch the interest burden after the large buyback programme. The next dividend of $0.50 per share, payable on 30 September 2026 to holders of record on 15 September, was approved on 27 July 2026. A full-year dividend of $2.00 per share is assumed in the guidance.