TWFG, Inc.

Listed Company

TWFGCIK 0002007596NasdaqEmerging GrowthInsurance Agents, Brokers & ServiceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$248.51M

Net Income

$41.17M

Total Assets

$372.33M

Equity

$83.38M

Shares Out

—

Op. Cash Flow

$53.50M

TWFG$26.35−20.54% · past yearDBEQ Basic

Daily closing prices

Business

TWFG, Inc. is an independent P&C insurance distributor operating through two segments: Insurance Services (exclusive Branch agreements and Corporate Branches across 34 states and D.C.) and TWFG MGA (non-exclusive agency network across 43 states). The company places insurance contracts with over 300 carriers, earning commission revenue while providing technology, training, carrier access, M&A support and administrative services to independent agents and agencies.

Summary from 10-K filed 2026-03-10

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
Total revenues	249	204	172	154
Commission expense	134	118	117	105
Salaries and employee benefits	38	29	14	12
Other administrative expenses (related party: 2025- $3,122, 2024- $1,478 and 2023- $415)	22	17	11	10
Depreciation and amortization	18	12	5	3
Total operating expenses	212	176	147	130
Operating income	37	28	25	24
Interest expense	−287,000	−2	−1	398,000
Interest income	7	4	891,000	46,000
Other non-operating income (expense), net	1	9,000	−17,000	−18,000
Income before tax	44	30	25	23
Income tax expense	3	1	0	0
Net income from continuing operations	41	29	25	23
Net income from discontinued operation, net of tax	0	0	834,000	−3
Net income	41	29	26	21
Less: net income attributable to noncontrolling interests	33	26	26	21
Net income attributable to TWFG, Inc.	—	3	0	0
Basic (in shares)	15	15	—	—
Diluted (in shares)	15	15	—	—
Basic (us dollars per share)	0.53	0.19	—	—
Diluted (us dollar per share)	0.53	0.19	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2025 2025-06-30	FY 2025 2025-03-31	FY 2024 2024-12-31
Cash and cash equivalents	156	—	—	—	196
Restricted cash	12	—	—	—	10
Commissions receivable, net	37	—	—	—	27
Accounts receivable	7	—	—	—	8
Other current assets, net	13	—	—	—	2
Total current assets	226	—	—	—	242
Intangible assets, net	139	—	—	—	73
Property and equipment, net	3	—	—	—	3
Lease right-of-use assets, net	4	—	—	—	4
Other non-current assets	689,000	—	—	—	610,000
Total assets	372	—	—	—	323
Commissions payable	15	—	—	—	14
Carrier liabilities	14	—	—	—	12
Operating lease liabilities	1	—	—	—	1
Short-term bank debt	2	—	—	—	2
Deferred acquisition payables	2	—	—	—	601,000
Other current liabilities	10	—	—	—	10
Total current liabilities	44	—	—	—	40
Operating lease liabilities	3	—	—	—	3
Long-term bank debt	2	—	—	—	4
Deferred acquisition payables	7	—	—	—	1
Other non-current liabilities	0	—	—	—	24,000
Total liabilities	56	—	—	—	48
Commitment and contingencies (see Note 17)	—	—	—	—	—
Redeemable noncontrolling interest	18	11	10	0	0
Additional paid-in capital	60	—	—	—	58
Retained earnings	23	—	—	—	15
Accumulated other comprehensive income	30,000	—	—	—	83,000
Total stockholders' equity attributable to TWFG, Inc.	83	—	—	—	74
Noncontrolling interests	215	—	—	—	201
Total stockholders' equity	299	—	—	—	275
Total liabilities, redeemable noncontrolling interest, and equity	372	—	—	—	323

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
Depreciation and amortization	18	12	5	3
Net gain on sales of intangible assets and property and equipment	−1	0	−84,000	−890,000
Stock-based compensation expense	5	2	0	0
Non-cash lease expense	1	1	704,000	556,000
Other non-cash items	−14,000	9,000	12,000	15,000
Commissions receivable, net	−10	−8	−4	−7
Accounts receivable	370,000	−2	−383,000	−2
Other current and non-current assets	−1	12,000	−362,000	40,000
Commissions payable	1	1	3	5
Operating lease liabilities	−1	−1	−755,000	−609,000
Other current liabilities	433,000	6	1	−217,000
Net cash provided by operating activities from continuing operations	54	40	29	22
Net cash provided by operating activities from discontinued operation	0	0	839,000	4
Net cash provided by operating activities	54	40	30	26
Proceeds from sale of books of business	2	0	928,000	2
Proceeds from sale of property and equipment	49,000	0	0	40,000
Purchase of intangible assets	−62	−22	−15	−12
Purchase of property and equipment	−356,000	−3	−260,000	−115,000
Other investment	−10	0	0	−88,000
Net cash (used in) investing activities from continuing operations	−70	−25	−15	−15
Net cash provided by investing activities from discontinued operation	0	0	64,000	422,000
Net cash (used in) investing activities	−70	−25	−15	−15
Proceeds from borrowings	0	0	41	0
Repayment of borrowings	−2	−43	−3	−3
Distributions to members	−16	−9	−33	−21
Cash derecognized upon distribution of EVO to members	0	0	−2	0
Net proceeds from IPO, net of underwriting costs	0	194	0	0
Payment of shelf registration costs	−445,000	0	0	—
Payment of deferred offering costs	0	0	−796,000	0
Payment of equity issuance costs	0	−38,000	0	0
Tax withholding on vesting of equity awards	−3	0	0	—
Increase in carrier liabilities	3	5	209,000	3
Decrease in carrier liabilities	−1	−1	−511,000	−40,000
Payment of deferred acquisition payable	−600,000	−1	−14,000	0
Net cash (used in) provided by financing activities from continuing operations	−21	143	2	−20
Net cash (used in) financing activities from discontinued operation	0	0	−11	5
Net cash (used in) provided by financing activities	−21	143	−10	−15
Net change in cash, cash equivalents and restricted cash from continuing operations	−37	159	16	−13
Net change in cash, cash equivalents and restricted cash from discontinued operation	0	0	−10	9
Net change in cash, cash equivalents and restricted cash	−37	159	6	−4
Net change in cash and cash equivalents	−40	156	7	−6
Net change in restricted cash	2	2	−761,000	2
Cash paid for interest	194,000	2	832,000	404,000
Cash paid for taxes	3	0	0	—
Additions to intangible assets and offsetting additions to deferred acquisition payable	7	840,000	6	1
Additions to intangible assets and offsetting additions to members' equity	599,000	26	0	0
Additions to intangible assets and offsetting additions to other current liabilities	0	8,000	0	0
Additions to intangible assets and offsetting to redeemable noncontrolling interest	15	0	0	—
Settlement of deferred acquisition payable through the issuance of Class A common units	0	5	0	0
Distribution to members	0	0	6	0
Unpaid deferred offering costs	0	0	1	0

Filings

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Frequently asked questions

What is TWFG, Inc.'s CIK number?

TWFG, Inc.'s SEC CIK number is 0002007596 (2007596). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find TWFG, Inc.'s SEC filings?

All of TWFG, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did TWFG, Inc. last report earnings?

TWFG, Inc. (TWFG) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-032140). This is TWFG, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is TWFG, Inc.'s most recent earnings 8-K?

TWFG, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001628280-26-032140. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View TWFG, Inc.'s latest earnings 8-K →
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