Doma Reports Fourth Quarter 2021 Financial Results
Feb 18, 2022 By MarketDepth
Doma Holdings, Inc. (NYSE: DOMA) has reported financial results for the three months and full year ended December 31st, 2021. For the fourth quarter, total revenues amounted to USD 138 Million, a 17% rise compared to the same period a year ago. Retained premiums and fees reached USD 66 Million as gross profit amounted to USD 22 Million.
“Our referral partners’ receptivity to our offering and the Doma team’s ability to execute with a high degree of skill has fortified our pursuit of becoming the unquestioned leader in our industry. The successful opening of our first purchase transactions on the Doma Intelligence platform is the latest affirmation of our compelling opportunity to take market share, raise our growth potential, and add even more certainty to our path to profitability.”
Max Simkoff, Founder and CEO of Doma
Noaman Ahmad, CFO of Doma, added, “We finished the year in a position of strength, having consistently outperformed the objectives we set for retained premium and fees and adjusted gross profit since announcing our plans to go public last March. In terms of our plans for 2022, we are taking advantage of the momentum in our business and will focus on broadening the use and coverage of our proven Doma Intelligence platform. We will use the capital we raised from going public to expand our core machine intelligence-powered title and closing offering into purchase transactions, as well as to capture opportunities in adjacent markets.”
Full Year Guidance
For full year 2022 the company expects gross profit to reach between USD 118 Million and USD 136 Million while retained premiums and fees are expected to range between USD 300 Million and USD 320 Million.
