Hippo's business model is proving itself and our investments in technology are paying off. We've executed on improving our underwriting results while growing despite 2022's challenges of inflation shocks, supply chain dislocation and one of the worst hurricane losses in history. We remain confident that we are building a superior underwriting model and an industry leading technology stack.

Excluding the impact of Hurricane Ian, our Gross Loss Ratio in Q3'22 was 58%, continuing a trend of strong improvements in underwriting results which have come despite challenging market conditions where inflationary pressures have dampened results across the industry. Our industry leading technology platform leverages rapid data integration to quickly re-underwrite and re-price our book to incorporate inflationary trends into our pricing.

I want to note that the net losses to Hippo at a consolidated level from this event were only $4.7 million. Our small net loss in Florida from Hurricane Ian was not a simple stroke of luck; we made strategic decisions that limited our exposure in the state.

Hippo's third quarter Adjusted EBITDA loss was $54.8 million, including $4.7 million of losses related to Hurricane Ian. We beat that expectation, despite one of the worst industry loss events in history, because revenue growth and underlying Gross Loss Ratio improvement are accelerating and the expense reduction actions we've taken are beginning to have their intended effect.

In the toughest of times, we can do what many others in the industry have not: execute on fundamental improvement while gaining market share. Our focus is now to achieve positive Adjusted EBITDA, a goal we aim to reach by late 2024, while adding to the products and services we offer to American homeowners.