TWFG, Inc.
For the period ended Mar 31, 2025. Filed May 13, 2025.
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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, 2025 · Filed May 13, 2025
TWFG$28.11-2.9%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated B
Condensed Consolidated Balance Sheets
(Amounts in thousands, except share/unit data)
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $196,424 | $195,772 |
| Restricted cash | 11,853 | 9,551 |
| Commissions receivable, net | 23,575 | 27,067 |
| Accounts receivable | 8,053 | 7,839 |
| Other current assets, net | 1,500 | 1,619 |
| Total current assets | 241,405 | 241,848 |
| Non-current assets | ||
| Intangible assets, net | 80,919 | 72,978 |
| Property and equipment, net | 3,364 | 3,499 |
| Lease right-of-use assets, net | 4,307 | 4,493 |
| Other non-current assets | 535 | 610 |
| Total assets | $330,530 | $323,428 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Commissions payable | $16,303 | $13,848 |
| Carrier liabilities | 14,710 | 12,392 |
| Operating lease liabilities, current | 1,124 | 1,013 |
| Short-term bank debt | 1,927 | 1,912 |
| Deferred acquisition payable, current | 1,956 | 601 |
| Other current liabilities | 6,842 | 9,851 |
| Total current liabilities | 42,862 | 39,617 |
| Non-current liabilities | ||
| Operating lease liabilities, net of current portion | 3,119 | 3,372 |
| Long-term bank debt | 3,519 | 4,007 |
| Deferred acquisition payable, non-current | 973 | 1,122 |
| Other non-current liabilities | — | 24 |
| Total liabilities | 50,473 | 48,142 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' Equity | ||
| Class A common stock ($0.01 par value per share - 300,000,000 authorized, 14,904,083 and 14,811,874 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively ) | 149 | 148 |
| Class B common stock ($0.00001 par value per share - 100,000,000 authorized, 7,277,651 shares issued and outstanding at March 31, 2025 and December 31, 2024) | — | — |
| Class C common stock ($0.00001 par value per share - 100,000,000 authorized, 33,893,810 shares issued and outstanding at March 31, 2025 and December 31, 2024) | — | — |
| Additional paid-in capital | 58,374 | 58,365 |
| Retained earnings | 16,626 | 15,288 |
| Accumulated other comprehensive income | 65 | 83 |
| Total stockholders' equity attributable to TWFG, Inc. | 75,214 | 73,884 |
| Noncontrolling interests | 204,843 | 201,402 |
| Total stockholders' equity | 280,057 | 275,286 |
| Total liabilities and equity | $330,530 | $323,428 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.