Verisk OCC Revenue Growth Reaches 7.4% in Third Quarter

The Tip Desk · November 5, 2026 · 3 min read

Organic constant-currency revenue rose 7.4% as Verisk said results returned to Investor Day targets, with diluted adjusted EPS up 14.0% to $1.96.

Verisk Analytics (VRSK), a strategic data analytics and technology provider to the insurance industry, reported third-quarter revenue of $809 million, up 5.3% from a year earlier, and up 7.4% on an organic constant-currency basis, a non-GAAP measure.

That OCC pace accelerated from 5.8% in the second quarter, after 4.7% in the first quarter. Chief Financial Officer Elizabeth Mann said the results returned to levels in line with annual Investor Day targets and reflected the sequential acceleration in growth the company had previously articulated.

Subscription revenue grew 8.2% and transactional revenue grew 3.2%, Mann said. Underwriting, the larger of the two reportable lines, generated $568 million, up 4.8% reported and 7.7% on an OCC basis. The company said the underwriting increase was primarily due to an annual increase in prices from continued enhancements to models and content in forms, rules and loss-cost services, as well as selling expanded solutions to new and existing customers in catastrophe and risk solutions. Claims revenue was $241 million, up 6.6% reported and 6.7% OCC, which the company attributed primarily to price realization and adoption of new anti-fraud analytics, as well as growth in property and restoration solutions.

Adjusted EBITDA was $459 million, up 7.0% reported and 7.5% OCC. OCC adjusted EBITDA growth matched the second quarter’s 7.4%. Adjusted EBITDA margin expanded to 56.7% from 55.8% a year earlier. The company said adjusted EBITDA rose on an OCC basis primarily due to revenue growth and continued cost discipline, and described another quarter of healthy margin expansion.

GAAP net income was $219 million, down 2.8%. The company said the decrease was mainly driven by losses related to cost-based investments and higher net interest expense, partially offset by operating leverage on revenue growth and cost discipline. Diluted GAAP earnings were $1.70 a share, up 5.6%. Diluted adjusted EPS was $1.96, up 14.0%, which the company said reflected operational growth and a lower average share count, partially offset by higher net interest expense and a higher effective tax rate.

Cash generation reversed from the second quarter. Net cash provided by operating activities was $267 million, down 33.8%, after a 49.7% increase in the prior quarter. Free cash flow was $200 million, down 40.5%. The company said the decline was primarily due to higher cash tax payments, increased interest payments, and unfavorable working-capital movements related to the timing of cash collections.

During the third quarter Verisk executed a $100 million accelerated share repurchase and completed the final settlement of previously announced ASR programs, receiving 2.0 million shares at an average price, less a discount, of $181.76. Remaining authorization was $700 million as of September 30, 2026. The company paid a cash dividend of 50 cents a share on September 30. On November 2 the board approved another 50-cent dividend payable December 31.

Full-year 2026 guidance was left unchanged: revenue of $3,190 million to $3,240 million, adjusted EBITDA of $1,790 million to $1,830 million, adjusted EBITDA margin of 56.0% to 56.5%, and diluted adjusted EPS of $7.45 to $7.75. Mann said the company continues to expect 2026 to be another year of performance in line with Investor Day targets.