TIPTREE INC.

Listed Company

TIPTCIK 0001393726NasdaqAcceleratedFire, Marine & Casualty InsuranceMarylandFY ends Dec 31

Period

FY 2025

Revenue

$488.0K

Net Income

$34.93M

Total Assets

$6.84B

Equity

$508.55M

Shares Out

37.57M

Op. Cash Flow

$168.22M

Business

Tiptree Inc. allocates capital to select small and middle market companies with a significant focus on insurance and credit-related financial sectors. It provides specialty insurance underwriting and capital-light fee-based services, auto and consumer warranty programs, motor club administration, mortgage origination and servicing, asset management and principal investments. The company reports two primary businesses: Insurance (Fortegra) and Tiptree Capital, which includes mortgage operations, principal investments and an asset manager. Its products are sold across the United States, Europe and other jurisdictions through MGAs, retail agents, dealers, brokers, lenders and direct channels.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Other revenue	488,000	2	2	76	73
Total revenues	488,000	2	2	1,398	1,201
Employee compensation and benefits	34	29	31	183	207
Depreciation and amortization	1	1	1	23	24
Other expenses	12	11	13	133	142
Total expenses	47	42	46	1,344	1,135
Operating income (loss) before taxes	−47	−40	−43	—	—
Net realized and unrealized gains (losses)	−2	−905,000	−5	70	151
Other income	4	3	5	—	—
Income (loss) before taxes	−45	−39	−43	54	65
Less: provision (benefit) for income taxes	−6	−6	−5	50	21
Net income (loss) from continuing operations	−39	−32	−39	—	—
Net income (loss) from discontinued operations	74	86	53	—	—
Net income (loss)	35	53	14	4	44
Less: net income (loss) attributable to non-controlling interests	0	0	9,000	12	6
Net income (loss) attributable to common stockholders	35	53	14	−8	38
Basic earnings per share (in dollars per share)	−1.04	−0.88	−1.06	—	—
Diluted earnings per share (in dollars per share)	−1.04	−0.88	−1.06	—	—
Basic earnings per share (in dollars per share)	1.97	2.32	1.44	—	—
Diluted earnings per share (in dollars per share)	1.8	2.22	1.4	—	—
Basic earnings per share (in dollars per share)	0.93	1.44	0.38	−0.23	1.13
Diluted earnings per share (in dollars per share)	0.76	1.34	0.34	−0.23	1.09
Basic (in shares)	38	37	37	36	33
Diluted (in shares)	38	37	37	36	34
Dividends declared per common share (in dollars per share)	0.24	0.49	0.2	0.16	0.16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	31	19	469	538	176
Marketable securities	22	15	—	—	—
Other current assets	2	4	—	—	—
Total current assets	55	38	—	—	—
Right of use asset	8	10	—	—	—
Property, plant and equipment, net	6	8	—	—	—
Other assets	2	3	—	—	—
Assets held for sale	6,768	5,636	—	—	—
Total assets	6,840	5,695	5,139	4,040	3,599
Short-term debt, net	8	0	—	—	—
Other current liabilities	21	16	—	—	—
Total current liabilities	29	16	—	—	—
Long-term debt, net	64	0	—	—	—
Long-term lease obligations	9	11	—	—	—
Deferred tax liabilities	80	57	—	—	—
Liabilities held for sale	5,906	4,954	—	—	—
Total liabilities	6,088	5,038	4,563	3,506	3,199
Preferred stock: $0.001 par value, 100,000,000 shares authorized, none issued or outstanding	—	—	0	0	0
Common stock: $0.001 par value, 200,000,000 shares authorized, 37,824,472 and 37,255,838 shares issued and outstanding, respectively	38,000	37,000	37,000	36,000	34,000
Additional paid-in capital	394	390	382	383	317
Accumulated other comprehensive income (loss), net of tax	−7	−28	−26	−39	−3
Retained earnings	122	96	61	54	68
Total Tiptree Inc, stockholders' equity	509	458	417	397	383
Total non-controlling interests	244	199	160	136	17
Total stockholders equity	752	657	577	534	400
Total liabilities and stockholders equity	6,840	5,695	5,139	4,040	3,599

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Non-cash compensation expense	11	9	6	10	11
Amortization/accretion of premiums and discounts	−1	−890,000	−2	976,000	3
Depreciation and amortization expense	1	1	1	23	24
Non-cash lease expense	2	2	2	9	9
Deferred provision (benefit) for income taxes	−7	−5	−6	48	18
Amortization of deferred financing costs	677,000	0	0	1	2
(Increase) decrease in other assets	1	3	26	7	−7
Increase (decrease) in other liabilities and lease obligations	1	−3	−5	—	—
Net cash provided by (used in) operating activities from continuing operations	−27	−25	−11	—	—
Net cash provided by (used in) operating activities from discontinued operations	195	266	83	—	—
Net cash provided by (used in) operating activities	168	241	71	463	204
Purchases of investments	−91	−30	−149	−1,197	−1,431
Proceeds from sales and maturities of investments	84	88	91	1,261	1,172
Purchases of property, plant and equipment	0	−33,000	−4	−11	−3
Net cash provided by (used in) investing activities from continuing operations	−6	58	−63	—	—
Net cash provided by (used in) investing activities from discontinued operations	−196	−381	−182	—	—
Net cash provided by (used in) investing activities	−202	−323	−245	10	−274
Dividends paid	−9	−18	−7	−8	−5
Non-controlling interest (redemptions) contributions	0	0	−5	−6	−4
Cash (paid) received in connection with vested or exercised stock awards	−7	−1	−684,000	—	—
Payment of debt issuance costs	−2	0	0	−1	−114,000
Proceeds from borrowings and mortgage notes payable	74	0	0	2,365	4,084
Principal paydowns of borrowings and mortgage notes payable	−751,000	0	0	−2,666	−3,993
Net cash provided by (used in) financing activities from continuing operations	56	−20	−13	—	—
Net cash provided by (used in) financing activities from discontinued operations	−44	26	126	—	—
Net cash provided by (used in) financing activities	11	6	113	−115	74
Effect of exchange rate changes on cash	3	−355,000	2	−2	0
Net increase (decrease) in cash, cash equivalents and restricted cash	−19	−76	−58	356	4
Cash paid during the period for interest expense	26	29	27	29	37
Cash (received) paid during the period for income taxes	53	15	−15	—	—
Right of use asset obtained in exchange for lease liability	0	0	55,000	15	4

Filings

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