Complete Filing Data
TWFG, Inc. reported Members Equity of $298.75 million for FY2025.
All values from 10-K, 20-F, and 10-Q filings on SEC EDGAR, organized by financial statement. Scroll each table horizontally for the full history. Blank cells mean TWFG, Inc. did not report that metric for that period in XBRL — often because accounting standards changed which tag a company files under (for example, most companies moved revenue to the ASC-606 tag in 2018), so a metric may continue in a different row. Rows marked * merge those successor tags into one continuous series, preferring the audited value from the newest-standard tag where periods overlap.
Income Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Net Income * | $41.2M | $2.7M | $0.00 | $0.00 |
| Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent | -$355.0K | |||
| Revenue From Contract With Customer Excluding Assessed Tax | $248.5M | $203.8M | $172.0M | $153.9M |
| Other Nonoperating Income Expense | $1.1M | $9.0K | -$17.0K | -$18.0K |
| Other General And Administrative Expense | $22.0M | $16.7M | $11.0M | $9.7M |
| Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax | $181.0K | $321.0K | $409.0K | $90.0K |
| Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax | -$15.0K | $214.0K | $109.0K | $803.0K |
| Operating Income Loss | $37.0M | $27.9M | $25.4M | $23.7M |
| Operating Expenses | $211.5M | $175.8M | $146.7M | $130.2M |
| Comprehensive Income Net Of Tax | $7.9M | $2.8M | $0.00 | $0.00 |
| Other Comprehensive Income Loss Net Of Tax | -$196.0K | -$107.0K | -$135.0K | -$355.0K |
| Net Income Loss Attributable To Noncontrolling Interest | $33.2M | $25.8M | $26.1M | $20.6M |
| Interest Expense Nonoperating | $287.0K | $2.2M | $1.0M | $398.0K |
| Income Tax Expense Benefit | $3.3M | $1.5M | $0.00 | $0.00 |
| Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest | $44.4M | $30.1M | $25.3M | $23.3M |
| Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest | $41.0M | $28.5M | $26.0M | $20.3M |
| Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | $33.1M | $25.7M | $26.0M | $20.3M |
| Net Income Loss Attributable To Parent Before Reorganization Transactions | $20.6M | |||
| Investment Income Nonoperating | $6.6M | $4.4M | $891.0K | $46.0K |
| Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity | $0.00 | $0.00 | $834.0K | -$2.7M |
| Income Loss From Continuing Operations | $41.2M | $28.6M | $25.3M | $23.3M |
| Income Loss From Continuing Operations Per Diluted Share | ||||
| Income Loss From Continuing Operations Per Basic Share |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income * | $1.7M | $2.0M | $1.3M | $8.2M | $1.2M | $0.00 | $0.00 | $7.6M | $7.1M | $6.2M | ||
| Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent | -$37.0K | -$41.0K | -$50.0K | -$68.0K | $2.0K | -$56.0K | $23.0K | -$187.0K | -$35.0K | $48.0K | $39.0K | |
| Revenue From Contract With Customer Excluding Assessed Tax | $64.1M | $60.3M | $53.8M | $52.9M | $53.0M | $46.1M | $47.7M | $45.4M | ||||
| Other Nonoperating Income Expense | $59.0K | $574.0K | -$1.0K | -$4.0K | $14.0K | -$2.0K | $1.0K | $0.00 | ||||
| Other General And Administrative Expense | $5.2M | $5.4M | $4.7M | $4.8M | $3.7M | $3.1M | $2.8M | $2.7M | ||||
| Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax | $44.0K | $48.0K | $53.0K | $80.0K | $85.0K | $93.0K | $107.0K | $104.0K | ||||
| Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax | $3.0K | -$2.0K | -$15.0K | -$77.0K | $29.0K | $116.0K | $72.0K | $152.0K | ||||
| Operating Income Loss | $9.0M | $7.4M | $5.7M | $6.0M | $7.5M | $7.3M | $7.9M | $7.2M | ||||
| Operating Expenses | $55.1M | $52.9M | $48.1M | $46.9M | $45.5M | $38.8M | $39.8M | $38.1M | ||||
| Comprehensive Income Net Of Tax | $1.7M | $1.9M | $1.3M | $1.1M | $0.00 | $0.00 | $7.6M | $7.1M | ||||
| Other Comprehensive Income Loss Net Of Tax | -$41.0K | -$50.0K | -$68.0K | -$157.0K | -$56.0K | $23.0K | -$35.0K | |||||
| Net Income Loss Attributable To Noncontrolling Interest | $7.9M | $7.0M | $5.5M | $5.7M | $6.9M | $6.6M | $0.00 | |||||
| Interest Expense Nonoperating | $70.0K | $68.0K | $83.0K | $411.0K | $872.0K | $842.0K | $295.0K | |||||
| Income Tax Expense Benefit | $977.0K | $620.0K | $656.0K | $437.0K | $0.00 | $0.00 | $0.00 | |||||
| Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest | $10.6M | $9.6M | $7.5M | $7.3M | $6.9M | $6.6M | $7.6M | |||||
| Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest | $9.6M | $9.0M | $6.8M | $6.7M | $6.9M | $6.7M | $7.6M | |||||
| Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | $7.9M | $7.0M | $5.5M | $5.6M | $6.9M | $6.7M | $0.00 | |||||
| Net Income Loss Attributable To Parent Before Reorganization Transactions | $8.2M | $6.9M | $6.6M | $5.2M | $7.6M | $7.1M | $6.2M | |||||
| Investment Income Nonoperating | $1.6M | $1.8M | $1.9M | $1.8M | $255.0K | $170.0K | ||||||
| Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||
| Income Loss From Continuing Operations | $6.9M | $6.9M | $7.6M | $7.1M | ||||||||
| Income Loss From Continuing Operations Per Diluted Share | $10.49 | $11.19 | ||||||||||
| Income Loss From Continuing Operations Per Basic Share | $10.49 | $11.19 |
Balance Sheet
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Stockholders Equity * | $83.4M | $73.9M | $31.1M | ||
| Members Equity | $298.7M | $275.3M | $31.1M | $57.8M | $58.1M |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | $167.9M | $205.3M | $46.5M | $40.7M | $44.7M |
| Distribution Made To Limited Liability Company LLC Member Cash Distributions Paid | $20.6M | ||||
| Commissions Receivable Net Current | $37.3M | $27.1M | $19.1M | $15.0M | |
| Cash And Cash Equivalents At Carrying Value | $155.9M | $195.8M | $39.3M | $22.3M | |
| Restricted Cash Period Increase Decrease Including Exchange Rate Effect | $2.4M | $2.4M | -$761.0K | $1.9M | |
| Repayments Of Debt | $1.9M | $43.4M | $2.6M | $2.6M | |
| Payment Of Deferred Offering Costs | $0.00 | $0.00 | $796.0K | $0.00 | |
| Payment Of Deferred Acquisition Payable | $600.0K | $1.0M | $14.0K | $0.00 | |
| Operating Lease Right Of Use Asset Amortization Expense | $1.4M | $1.0M | $704.0K | $556.0K | |
| Noncash Or Part Noncash Settlement Of Deferred Acquisition Payable Through The Issuance Of Class A Common Units | $0.00 | $4.5M | $0.00 | $0.00 | |
| Noncash Or Part Noncash Additions To Intangible Assets And Offsetting Additions To Other Current Liabilities | $0.00 | $8.0K | $0.00 | $0.00 | |
| Noncash Or Part Noncash Additions To Intangible Assets And Offsetting Additions To Members Equity | $599.0K | $25.6M | $0.00 | $0.00 | |
| Noncash Or Part Noncash Additions To Intangible Assets And Offsetting Additions To Deferred Acquisition Payable | $7.1M | $840.0K | $6.4M | $1.2M | |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | -$37.4M | $158.9M | $5.8M | -$4.0M | |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations | $0.00 | $0.00 | $0.00 | $10.4M | $1.3M |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $167.9M | $205.3M | $46.5M | $30.3M | $43.4M |
| Cash And Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | -$39.8M | $156.5M | $6.6M | -$6.0M | |
| Gain Loss On Of Intangible Assets And Property And Equipment | $1.1M | $0.00 | $84.0K | $890.0K | |
| Retained Earnings Accumulated Deficit | $23.3M | $15.3M | $4.8M | ||
| Restricted Cash Current | $12.0M | $9.6M | $7.2M | ||
| Property Plant And Equipment Net | $3.3M | $3.5M | $597.0K | ||
| Other Liabilities Current | $10.3M | $9.9M | $5.0M | ||
| Other Assets Noncurrent | $689.0K | $610.0K | $837.0K | ||
| Other Assets Current | $12.8M | $1.6M | $1.6M | ||
| Operating Lease Right Of Use Asset | $4.2M | $4.5M | $2.5M | ||
| Operating Lease Liability Noncurrent | $2.9M | $3.4M | $1.5M | ||
| Operating Lease Liability Current | $1.3M | $1.0M | $882.0K | ||
| OCI Unrealized Gain Loss On Investments Of Discontinued Operations Tax | $0.00 | $0.00 | $44.0K | -$250.0K | |
| OCI Unrealized Gain Loss On Investments Of Discontinued Operations Net Of Tax | $0.00 | $0.00 | $165.0K | -$1.1M | |
| Liabilities Current | $44.1M | $39.6M | $34.9M | ||
| Liabilities And Stockholders Equity | $372.3M | $323.4M | $115.4M | ||
| Liabilities | $55.7M | $48.1M | $84.4M |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stockholders Equity * | $79.4M | $78.7M | $75.2M | $71.1M | |||||||
| Members Equity | |||||||||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | $162.5M | $171.0M | $208.3M | $200.9M | $36.5M | $31.4M | $41.4M | $37.5M | |||
| Distribution Made To Limited Liability Company LLC Member Cash Distributions Paid | $2.0M | $2.2M | $4.7M | $2.4M | $20.2M | $2.6M | $5.2M | $5.4M | |||
| Commissions Receivable Net Current | $27.5M | $25.2M | $23.6M | $22.9M | $22.4M | ||||||
| Cash And Cash Equivalents At Carrying Value | $151.0M | $159.8M | $196.4M | $191.2M | $25.8M | $33.6M | $29.4M | ||||
| Restricted Cash Period Increase Decrease Including Exchange Rate Effect | $2.3M | $1.7M | |||||||||
| Repayments Of Debt | $473.0K | $675.0K | |||||||||
| Payment Of Deferred Offering Costs | $0.00 | $1.9M | |||||||||
| Payment Of Deferred Acquisition Payable | $151.0K | $506.0K | |||||||||
| Operating Lease Right Of Use Asset Amortization Expense | $305.0K | $249.0K | |||||||||
| Noncash Or Part Noncash Settlement Of Deferred Acquisition Payable Through The Issuance Of Class A Common Units | $0.00 | $4.5M | |||||||||
| Noncash Or Part Noncash Additions To Intangible Assets And Offsetting Additions To Other Current Liabilities | $0.00 | $5.0K | |||||||||
| Noncash Or Part Noncash Additions To Intangible Assets And Offsetting Additions To Members Equity | $0.00 | $25.6M | |||||||||
| Noncash Or Part Noncash Additions To Intangible Assets And Offsetting Additions To Deferred Acquisition Payable | $1.4M | $394.0K | |||||||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | $3.0M | -$15.1M | |||||||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $200.9M | $36.5M | $41.4M | $37.5M | |||||||
| Cash And Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | $652.0K | -$16.7M | |||||||||
| Gain Loss On Of Intangible Assets And Property And Equipment | $600.0K | ||||||||||
| Retained Earnings Accumulated Deficit | $20.3M | $18.6M | $16.6M | $13.7M | $11.3M | ||||||
| Restricted Cash Current | $11.6M | $11.2M | $11.9M | $9.7M | $10.8M | ||||||
| Property Plant And Equipment Net | $3.2M | $3.3M | $3.4M | $682.0K | $514.0K | ||||||
| Other Liabilities Current | $9.3M | $8.7M | $6.8M | $6.9M | $6.9M | ||||||
| Other Assets Noncurrent | $734.0K | $779.0K | $535.0K | $635.0K | $801.0K | ||||||
| Other Assets Current | $13.1M | $2.9M | $1.5M | $1.5M | $911.0K | ||||||
| Operating Lease Right Of Use Asset | $4.5M | $4.4M | $4.3M | $2.6M | $2.8M | ||||||
| Operating Lease Liability Noncurrent | $3.1M | $3.0M | $3.1M | $1.4M | $1.6M | ||||||
| Operating Lease Liability Current | $1.4M | $1.4M | $1.1M | $1.1M | $1.0M | ||||||
| OCI Unrealized Gain Loss On Investments Of Discontinued Operations Tax | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| OCI Unrealized Gain Loss On Investments Of Discontinued Operations Net Of Tax | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| Liabilities Current | $45.1M | $45.4M | $42.9M | $38.1M | $41.0M | ||||||
| Liabilities And Stockholders Equity | $349.2M | $342.8M | $330.5M | $313.1M | $157.2M | ||||||
| Liabilities | $53.4M | $53.9M | $50.5M | $45.0M | $89.7M |
Cash Flow Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Financing Cash Flow * | -$20.5M | $143.4M | -$9.7M | -$15.3M |
| Investing Cash Flow * | -$70.4M | -$25.1M | -$14.7M | -$14.5M |
| Operating Cash Flow * | $53.5M | $40.5M | $30.2M | $25.8M |
| Payments To Acquire Property Plant And Equipment | $356.0K | $3.2M | $260.0K | $115.0K |
| Payments To Acquire Intangible Assets | $61.9M | $21.9M | $15.4M | $12.2M |
| Payments Of Stock Issuance Costs | $0.00 | $38.0K | $0.00 | $0.00 |
| Payments Of Distributions To Affiliates | $15.9M | $9.3M | $33.4M | $20.6M |
| Increase Decrease In Other Operating Assets | $1.5M | -$12.0K | $362.0K | -$40.0K |
| Increase Decrease In Operating Lease Liability | -$1.2M | -$1.1M | -$755.0K | -$609.0K |
| Increase Decrease In Contract With Customer Liability Commissions Payable | $1.3M | $1.4M | $3.0M | $5.0M |
| Increase Decrease In Commissions Receivable Net | $10.3M | $8.0M | $4.1M | $6.8M |
| Increase Decrease In Accounts Receivable | -$370.0K | $1.8M | $383.0K | $1.5M |
| Depreciation Depletion And Amortization | $18.4M | $12.0M | $4.9M | $3.3M |
| Share Based Compensation | $4.6M | $2.2M | $0.00 | $0.00 |
| Proceeds From Sale Of Property Plant And Equipment | $49.0K | $0.00 | $0.00 | $40.0K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q1 2025 | Q1 2024 |
|---|---|---|
| Financing Cash Flow * | -$1.5M | -$3.8M |
| Investing Cash Flow * | -$11.2M | -$21.0M |
| Operating Cash Flow * | $15.6M | $9.8M |
| Payments To Acquire Property Plant And Equipment | $15.0K | $8.0K |
| Payments To Acquire Intangible Assets | $11.2M | $21.0M |
| Payments Of Stock Issuance Costs | $0.00 | $37.0K |
| Payments Of Distributions To Affiliates | $2.0M | $2.4M |
| Increase Decrease In Other Operating Assets | -$127.0K | -$264.0K |
| Increase Decrease In Operating Lease Liability | -$260.0K | -$266.0K |
| Increase Decrease In Contract With Customer Liability Commissions Payable | $2.5M | $831.0K |
| Increase Decrease In Commissions Receivable Net | -$3.5M | $653.0K |
| Increase Decrease In Accounts Receivable | $215.0K | $93.0K |
| Depreciation Depletion And Amortization | $3.4M | $3.0M |
| Share Based Compensation | $1.2M | $0.00 |
| Proceeds From Sale Of Property Plant And Equipment |
Per-Share & Share Counts
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 |
|---|---|---|
| Weighted Average Number Of Shares Outstanding Basic | 14.9M | 14.8M |
| Weighted Average Number Of Diluted Shares Outstanding | 15.1M | 15.0M |
| Earnings Per Share Diluted | $0.53 | $0.19 |
| Earnings Per Share Basic | $0.53 | $0.19 |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q2 2023 |
|---|---|---|---|---|---|---|
| Weighted Average Number Of Shares Outstanding Basic | 15.0M | 14.9M | 14.9M | 14.7M | 659.4K | 631.8K |
| Weighted Average Number Of Diluted Shares Outstanding | 15.1M | 56.3M | 15.1M | 14.9M | 659.4K | 631.8K |
| Earnings Per Share Diluted | $0.11 | $0.13 | $0.09 | $0.08 | $10.49 | $11.19 |
| Earnings Per Share Basic | $0.11 | $0.13 | $0.09 | $0.08 | $10.49 | $11.19 |
Other Metrics
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Noninterest Expense Commission Expense | $133.5M | $118.1M | $116.8M | $104.9M |
| Labor And Related Expense | $37.6M | $29.1M | $14.0M | $12.2M |
| Depreciation And Amortization | $18.4M | $12.0M | $4.9M | $3.3M |
| Other Noncash Income Expense | $14.0K | -$9.0K | -$12.0K | -$15.0K |
| Interest Paid Net | $194.0K | $2.3M | $832.0K | $404.0K |
| Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Noninterest Expense Commission Expense | $34.6M | $34.2M | $31.8M | $30.8M | $32.0M | $26.4M | $32.5M | $30.9M | ||
| Labor And Related Expense | $9.9M | $9.5M | $8.2M | $8.3M | $6.8M | $6.3M | $3.4M | $3.4M | ||
| Depreciation And Amortization | $5.3M | $3.9M | $3.4M | $3.0M | $3.0M | $3.0M | $1.1M | $1.1M | ||
| Other Noncash Income Expense | -$3.0K | -$1.0K | ||||||||
| Interest Paid Net | $83.0K | $969.0K | ||||||||
| Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value | $872.0K | $987.0K | $1.5M | $1.2M | $1.2M | $1.0M |
Most recent annual filing with the SEC: March 10, 2026
Data sourced from SEC EDGAR public filings as of August 5, 2026.