TWFG, Inc. Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Operating Revenue	217.89	193.72	166.99	147.78
Other Revenue	12.11	10.04	5.05	6.09
Revenue	230	203.76	172.04	153.88
Revenue Growth (YoY)	20.34%	18.44%	11.81%	-
Cost of Revenue	35.28	29.06	13.97	12.24
Gross Profit	194.72	174.7	158.07	141.64
Selling, General & Admin	149.82	134.75	127.82	114.62
Operating Expenses	165.46	146.77	132.68	117.92
Operating Income	29.26	27.93	25.39	23.72
Interest Expense	-0.32	-2.22	-1	-0.4
Interest & Investment Income	7.36	4.38	0.89	0.05
Other Non Operating Income (Expenses)	0.63	0.01	-0.02	-0.02
Pretax Income	36.94	30.09	25.26	23.35
Income Tax Expense	3.31	1.5	-	-
Earnings From Continuing Operations	33.63	28.59	25.26	23.35
Earnings From Discontinued Operations	-	-	0.83	-2.73
Net Income to Company	33.63	28.59	26.1	20.61
Minority Interest in Earnings	-27.02	-25.85	-26.1	-20.61
Net Income	6.61	2.75	-	-
Net Income to Common	6.61	2.75	-	-
Shares Outstanding (Basic)	15	15	1	1
Shares Outstanding (Diluted)	15	15	1	1
Shares Change (YoY)	2.15%	2271.57%	-	-
EPS (Basic)	0.44	0.19	-	-
EPS (Diluted)	0.44	0.19	-	-
Free Cash Flow	48.76	37.28	29.89	25.64
Free Cash Flow Per Share	3.22	2.49	47.32	40.59
Gross Margin	84.66%	85.74%	91.88%	92.05%
Operating Margin	12.72%	13.71%	14.76%	15.41%
Profit Margin	2.87%	1.35%	-	-
Free Cash Flow Margin	21.20%	18.30%	17.38%	16.66%
EBITDA	44.15	38.97	29.11	27.02
EBITDA Margin	19.19%	19.13%	16.92%	17.56%
D&A For EBITDA	14.89	11.04	3.72	3.3
EBIT	29.26	27.93	25.39	23.72
EBIT Margin	12.72%	13.71%	14.76%	15.41%
Effective Tax Rate	8.96%	4.97%	-	-
Revenue as Reported	230	203.76	172.04	153.88

Source: S&P Capital IQ. Standard template. Financial Sources.