Three Months Ended

March 31, 2025

March 31, 2024

Income

Shares (a)

Per Share

Income

Shares (a)

Per Share

(Numerator)

(Denominator)

Amount

(Numerator)

(Denominator)

Amount

Net income

$

74,230

$

56,956

Less: Net income attributable to
   redeemable noncontrolling 
   interests

—

(10,149

)

Less: Net (income) loss 
   attributable to noncontrolling 
   interests

(4,546

)

804

Net income attributable to HCI

69,684

47,611

Less: Income attributable to
   participating securities

(3,103

)

(1,218

)

Basic Earnings Per Share:

Income allocated to common 
   stockholders

66,581

10,286

$

6.47

46,393

9,751

$

4.76

Effect of Dilutive Securities:

Stock options

—

350

—

280

Convertible senior notes

1,873

2,142

1,640

2,282

Warrants

—

7

—

305

Diluted Earnings Per Share:

Income available to common
   stockholders and assumed
   conversions

$

68,454

12,785

$

5.35

$

48,033

12,618

$

3.81