Skip to main content

TIPTREE INC

For the period ended Mar 31, 2024. Filed May 1, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 1, 2024

TIPT$17.66+0.7%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☒Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the Quarterly period ended March 31, 2024

OR

☐Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to

Commission File Number:001-33549

Tiptree Inc.

(Exact name of Registrant as Specified in Its Charter)

Maryland 38-3754322

(State or Other Jurisdiction of Incorporation of Organization (IRS Employer Identification No.)

660 Steamboat Road,2nd Floor, Greenwich, Connecticut 06830

(Address of Principal Executive Offices) Zip Code

Registrant’s Telephone Number, Including Area Code: (212)446-1400

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
common stock, par value $0.001 per shareTIPTNASDAQCapital Market

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer¨ Accelerated filer x

Non-accelerated filer¨ Smaller reporting company☐

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.) Yes☐ No☒

As of April 30, 2024, there were 36,785,305 shares, par value $0.001, of the registrant’s common stock outstanding.

Tiptree Inc.

Quarterly Report on Form 10-Q

Table of Contents

ITEMPage Number
PART I. Financial InformationF- 1
Item 1. Financial Statements (Unaudited)F- 3
Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023F- 3
Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023F- 4
Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 2023F- 5
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the periods ended March 31, 2024 and 2023F- 6
Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023F- 7
Notes to Condensed Consolidated Financial StatementsF- 8
(1) OrganizationF- 8
(2) Summary of Significant Accounting PoliciesF- 8
(3) AcquisitionsF- 9
(4) Operating Segment DataF- 9
(5) InvestmentsF- 11
(6) Notes and Accounts Receivable, netF- 17
(7) Reinsurance Recoverable and Prepaid Reinsurance PremiumsF- 17
(8) Goodwill and Intangible Assets, netF- 20
(9) Derivative Financial Instruments and HedgingF- 21
(10) Debt, netF- 23
(11) Fair Value of Financial InstrumentsF- 24
(12) Liability for Unpaid Claims and Claim Adjustment ExpensesF- 31
(13) Revenue from Contracts with CustomersF- 32
(14) Other Assets and Other Liabilities and Accrued ExpensesF- 33
(15) Other Revenue and Other ExpensesF- 34
(16) Stockholders’ EquityF- 35
(17) Accumulated Other Comprehensive Income (Loss)F- 37
(18) Stock Based CompensationF- 38
(19) Income TaxesF- 41
(20) Commitments and ContingenciesF- 42
(21) Earnings Per ShareF- 42
(22) Related Party TransactionsF- 43
(23) Subsequent EventsF- 43
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations44
Item 3. Quantitative and Qualitative Disclosures About Market Risk64
Item 4. Controls and Procedures65
PART II. Other Information66
Item 1. Legal Proceedings66
Item 1A. Risk Factors66
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds66
Item 3. Defaults Upon Senior Securities66
Item 4. Mine Safety Disclosures66
Item 5. Other Information66
Item 6. Exhibits, Financial Statement Schedules67
Signatures68
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.