Company: SLDE
Filing Date: 2025-06-18
Form Type: 424B4
Source: 0001193125-25-142810
Chunk: 127

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-06-18
Form: 424B4
Chunk 127
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 million for the years ended December 31, 2023 and 2024, respectively. This increase is attributed to increased personnel needed to grow and service in force policies. Personnel count increased from 84
at January 1, 2023 to 204 at December 31, 2023 and 346 at December 31, 2024. Software and IT infrastructure expenses increased from $12.9 million to $27.0 million for the years ended December 31, 2023 and 2024 respectively. This increase is
attributed to increased software costs related to increased policies in force. Professional services expenses decreased from $19.3 million to $14.8 million for the years ended December 31, 2023 and 2024 respectively. This decrease is attributed to
reduced costs from third parties in servicing policies in force.

Interest expense.Interest expense increased from
$2.4 million for the year ended December 31, 2023 to $3.8 million for the year ended December 31, 2024. The increase was due primarily to the increase in outstanding debt.

Depreciation expense. Depreciation expense for the years ended December 31, 2023 and 2024 were $0.4 and $2.4 million,
respectively. The increase was due primarily to depreciation of capitalized costs of internal-use software projects that were put into production in 2024.

Amortization expense. Amortization expense for the years ended December 31, 2023 and 2024 were $8.2 million and
$7.9 million, respectively, representing 1.9% and 1.0%, respectively, of net premiums earned. The decrease was due primarily to sale of an intangible asset at the end of 2023.

Other operating expense. Other operating expense for the years ended December 31, 2023 and 2024 were approximately $0.2 and
$1.2 million, respectively. The increase was due primarily to estimated tax penalties and interest.

Income tax expense.Income tax expense was $30.3 million and $68.9 million for the years ended December 31, 2023 and 2024, respectively. Our effective tax rate for the year ended December 31, 2023 and 2024 was 25.7% and 25.4%, respectively.

Ratios

Loss ratio. Our loss ratio decreased from 43.8% for the