Greenlight Capital Re, Ltd. (GLRE) Income Statement
GLRE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGLRE revenue and net income
Where GLRE's revenue goes
2025Each bar shows an amount and its share of revenue. GLRE kept 10.7% of revenue as net income.
GLRE profit margins
GLRE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.5% | +13.4% | +7.8% | +18.9% |
| Gross profit | +548.2% | +151.1% | +55.1% | — |
| Operating income | +79.8% | +47.3% | +78.8% | — |
| Net income | +74.8% | +43.5% | +80.9% | — |
| EPS (diluted) | +76.4% | +58.0% | +59.5% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GLRE quarterly EPS vs estimates
Greenlight Capital Re beat the analyst EPS estimate in 1 of the last 4 quarters. Next report: November 2, 2026.
GLRE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $696.3M | $648.0M | $632.3M | $477.6M | $570.5M | $478.8M | $491.4M | $243.8M | $645.7M | $588.4M |
| Cost of revenue | $411.6M | $604.0M | $528.9M | $459.6M | $519.9M | $447.1M | $505.6M | $509.3M | $664.1M | $515.3M |
| Gross profit | $284.8M | $43.9M | $103.5M | $18.0M | $50.5M | $31.7M | −$14.2M | −$265.5M | −$18.5M | $73.0M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | — | $15.7M | $23.7M | $17.8M | $29.4M | $26.4M | $29.8M | $25.2M | $26.4M | $9.2M |
| Total operating expenses | $206.4M | $365,000 | $16.5M | −$6.5M | $29.2M | $27.4M | −$10.7M | $88.5M | $26.4M | $25.8M |
| Operating income | $78.3M | $43.6M | $86.9M | $24.5M | $21.3M | $4.3M | −$3.5M | −$354.0M | −$44.8M | $47.2M |
| Interest income | $25.3M | $32.4M | $28.6M | $4.5M | $1.7M | $3.5M | $11.3M | $15.7M | $1.6M | $1.6M |
| Interest expense | $4.8M | $9.2M | $8.0M | $10.9M | $17.9M | $6.3M | $6.3M | $2.5M | $0 | $0 |
| Income before taxes | $78.3M | $43.6M | $86.9M | $24.5M | $21.3M | $4.3M | −$3.5M | −$354.0M | −$44.8M | $47.2M |
| Income taxes | $3.5M | $749,000 | $100,000 | −$816,000 | $3.7M | $424,000 | $483,000 | $332,000 | −$451,000 | $509,000 |
| Net income | $74.8M | $42.8M | $86.8M | $25.3M | $17.6M | $3.9M | −$4.0M | −$350.1M | −$45.0M | $44.9M |
| EBITDA | $83.1M | $52.7M | $95.0M | $35.5M | $39.3M | $12.9M | $5.1M | −$348.7M | −$44.5M | $47.6M |
| EPS (diluted) | $2.17 | $1.23 | $2.38 | $0.55 | $0.50 | $0.21 | −$0.11 | −$9.73 | −$1.22 | $1.19 |
| Gross margin | 40.9% | 6.8% | 16.4% | 3.8% | 8.9% | 6.6% | −2.9% | −108.9% | −2.9% | 12.4% |
| Operating margin | 11.2% | 6.7% | 13.7% | 5.1% | 3.7% | 0.9% | −0.7% | −145.2% | −6.9% | 8.0% |
| Net margin | 10.7% | 6.6% | 13.7% | 5.3% | 3.1% | 0.8% | −0.8% | −143.6% | −7.0% | 7.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $165.3M | $160.9M | $177.9M | $160.5M | $178.4M | $179.6M | $136.2M | $168.2M | $170.5M | $168.0M | $154.6M | $168.8M |
| Cost of revenue | $156.1M | $91.2M | −$40.6M | $135.6M | $146.9M | $169.8M | $161.3M | $139.3M | $152.5M | $150.9M | $118.1M | $143.8M |
| Gross profit | $9.2M | $69.7M | $218.6M | $24.9M | $31.5M | $9.8M | −$25.1M | $28.8M | $18.0M | $17.1M | $36.5M | $25.0M |
| Sales, general & admin | — | — | — | — | $4.8M | — | — | $4.3M | $4.7M | $4.4M | $9.8M | $3.3M |
| Total operating expenses | $38.6M | $33.9M | $168.0M | $28.8M | $30.8M | −$21.1M | $3.3M | −$7.1M | $9.6M | −$10.4M | $18.9M | $11.5M |
| Operating income | −$29.4M | $35.9M | $50.6M | −$3.9M | $675,000 | $30.9M | −$28.3M | $36.0M | $8.4M | $27.5M | $17.6M | $13.5M |
| Interest income | $4.9M | $5.0M | $5.4M | $6.6M | $6.7M | $6.6M | $7.5M | $8.2M | $8.1M | $8.6M | $8.6M | $9.5M |
| Interest expense | $174,000 | $131,000 | $382,000 | $1.5M | $1.3M | $1.6M | $1.2M | $2.4M | $3.4M | $2.1M | $4.4M | $1.7M |
| Income before taxes | −$29.4M | $35.9M | $50.6M | −$3.9M | $675,000 | $30.9M | −$28.3M | $36.0M | $8.4M | $27.5M | $17.6M | $13.5M |
| Income taxes | $158,000 | $115,000 | $1.3M | $526,000 | $346,000 | $1.3M | −$928,000 | $723,000 | $435,000 | $519,000 | −$11,000 | $29,000 |
| Net income | −$29.6M | $35.8M | $49.3M | −$4.4M | $329,000 | $29.6M | −$27.4M | $35.2M | $8.0M | $27.0M | $17.6M | $13.5M |
| EBITDA | −$29.3M | $36.0M | $51.0M | −$2.3M | $1.9M | $32.5M | −$27.1M | $38.4M | $11.9M | $29.7M | $22.0M | $15.2M |
| EPS (diluted) | −$0.89 | $1.05 | $1.43 | −$0.13 | $0.01 | $0.86 | −$0.79 | $1.01 | $0.23 | $0.78 | $0.50 | $0.39 |
| Gross margin | 5.6% | 43.3% | 122.8% | 15.5% | 17.6% | 5.5% | −18.4% | 17.1% | 10.6% | 10.2% | 23.6% | 14.8% |
| Operating margin | −17.8% | 22.3% | 28.4% | −2.4% | 0.4% | 17.2% | −20.8% | 21.4% | 4.9% | 16.4% | 11.4% | 8.0% |
| Net margin | −17.9% | 22.2% | 27.7% | −2.7% | 0.2% | 16.5% | −20.1% | 21.0% | 4.7% | 16.1% | 11.4% | 8.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GLRE's financial statements (latest annual report filed March 9, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GLRE financial results
In fiscal year 2025 (ended December 31, 2025), Greenlight Capital Re reported revenue of $696.3 million, up 7.5% from the year before. It had net income of $74.8 million (up 74.8%), a net profit margin of 10.7%. Diluted earnings per share came to $2.17. Over five years revenue grew at an average rate of 7.8% a year.
See the GLRE stock overview for the latest quote and news, or the GLRE chart for price history and technical indicators.
GLRE income statement FAQ
What is Greenlight Capital Re's annual revenue?
Greenlight Capital Re reported total revenue of $696.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 7.5% from $648.0 million the previous year.
Is Greenlight Capital Re profitable?
Yes. Greenlight Capital Re reported net income of $74.8 million in fiscal 2025, a net profit margin of 10.7%; its operating margin was 11.2%.
What is Greenlight Capital Re's gross margin?
Greenlight Capital Re's gross margin was 40.9% in fiscal 2025: for every $100 of revenue, Greenlight Capital Re kept $41 after the direct cost of its products and services.
How fast is Greenlight Capital Re growing?
Revenue grew 7.8% a year on average over the last five fiscal years, from $478.8 million to $696.3 million.
What are Greenlight Capital Re's earnings per share?
Greenlight Capital Re earned $2.17 per diluted share in fiscal 2025, compared with $1.23 a year earlier.
When will Greenlight Capital Re report its next earnings?
Greenlight Capital Re is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Greenlight Capital Re's fiscal year end?
Greenlight Capital Re's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 9, 2026.