Flagship explainer

How CANNAE HOLDINGS, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$424M · 100%Cost of revenue$358M · 85%Gross profit$65.6M · 15%Operating income−$120M · −28%Income before tax−$191M · −45%Income tax$13M · 3%Net income−$513M · −121%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$424M100%
Cost of revenue$358M85%
$65.6M15%
−$120M−28%
Income before tax−$191M−45%
Income tax$13M3%
−$513M−121%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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