Company: NODK
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001174947-25-001142
Chunk: 8

Company: NI Holdings, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 8
---
—  
     (2,114) 
     —  
     —  
     (2,114)
  
    Share-based compensation 
     —  
     1,136  
     —  
     —  
     —  
     —  
     —  
     1,136 
  
    Issuance of vested award shares 
     —  
     (849) 
     —  
     (184) 
     —  
     879  
     —  
     (154)
  
    Balance,
 June 30, 2024 
    $230  
    $96,581  
    $(698) 
    $194,441  
    $(20,192) 
    $(34,298) 
    $—  
    $236,064 

The accompanying notes are an integral part of these consolidated financial
statements. 

7 

NI Holdings, Inc.

Consolidated Statements of Cash Flows (Unaudited)

(dollar amounts in thousands) 

    Six Months Ended June 30, 

    2025  
    2024 
  
    Cash flows from operating activities: 

    Net loss 
    $(5,591) 
    $(13,203)
  
    Less net loss from discontinued operations, net of income taxes 
     —  
     (1,512)
  
    Adjustments to reconcile net loss to net cash flows from operating activities: 

    Net investment gains 
     (459) 
     (876)
  
    Deferred income tax benefit 
     (1,452) 
     (491)
  
    Depreciation of property and equipment 
     344  
     341 
  
    Share-based compensation 
     724  
     1,136 
  
    Amortization of deferred policy acquisition costs 
     32,902  
     36,107 
  
    Deferral of policy acquisition costs 
     (32,922) 
     (40,474)
  
    Net amortization of premiums and discounts on investments 
     174  
     331 
  
    Gain on sale of property and equipment 
     (9) 
     (72)
  
    Changes in operating assets and liabilities: 

    Premiums and agents’ balances receivable