TWFG, Inc.
For the period ended Dec 31, 2025. Filed Mar 10, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 10, 2026
TWFG$26.79-4.7%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 exhibitsContents
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $155,926 | $195,772 |
| Restricted cash | 11,974 | 9,551 |
| Commissions receivable, net | 37,322 | 27,067 |
| Accounts receivable | 7,469 | 7,839 |
| Other current assets, net | 12,827 | 1,619 |
| Total current assets | 225,518 | 241,848 |
| Non-current assets | ||
| Intangible assets, net | 138,632 | 72,978 |
| Property and equipment, net | 3,307 | 3,499 |
| Lease right-of-use assets, net | 4,189 | 4,493 |
| Other non-current assets | 689 | 610 |
| Total assets | $372,335 | $323,428 |
| Liabilities, Redeemable Noncontrolling Interest and Equity | ||
| Current liabilities | ||
| Commissions payable | $15,168 | $13,848 |
| Carrier liabilities | 13,811 | 12,392 |
| Operating lease liabilities | 1,320 | 1,013 |
| Short-term bank debt | 1,972 | 1,912 |
| Deferred acquisition payables | 1,505 | 601 |
| Other current liabilities | 10,308 | 9,851 |
| Total current liabilities | 44,084 | 39,617 |
| Non-current liabilities | ||
| Operating lease liabilities | 2,897 | 3,372 |
| Long-term bank debt | 2,035 | 4,007 |
| Deferred acquisition payables | 6,669 | 1,122 |
| Other non-current liabilities | — | 24 |
| Total liabilities | 55,685 | 48,142 |
| Commitment and contingencies (see Note 17) | ||
| Redeemable noncontrolling interest | 17,901 | — |
| Stockholders' Equity | ||
| Class A common stock ($0.01 par value per share - 300,000,000 authorized 15,028,681 and 14,811,874 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively) | 150 | 148 |
| Class B common stock ($0.00001 par value per share - 100,000,000 authorized 7,277,651 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively) | — | — |
| Class C common stock ($0.00001 par value per share -100,000,000 authorized 33,893,810 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively) | — | — |
| Additional paid-in capital | 59,951 | 58,365 |
| Retained earnings | 23,251 | 15,288 |
| Accumulated other comprehensive income | 30 | 83 |
| Total stockholders' equity attributable to TWFG, Inc. | 83,382 | 73,884 |
| Noncontrolling interests | 215,367 | 201,402 |
| Total stockholders' equity | 298,749 | 275,286 |
| Total liabilities, redeemable noncontrolling interest, and equity | $372,335 | $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.