TWFG, Inc.

For the period ended Mar 31, 2026. Filed May 8, 2026.

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, 2026 · Filed May 8, 2026

TWFG$27.09+1.1%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income for the

Condensed Consolidated Statements of Income

(Amounts in thousands, except share and per share data)

	Three Months EndedMarch 31,
	2026	2025
Revenues
Commission income (related party of $4,278 and $3,135 for the three months ended March 31, 2026 and 2025, respectively)	$67,051	$48,785
Contingent income	1,935	1,663
Fee income (related party of $896 and $834 for the three months ended March 31, 2026 and 2025, respectively)	3,348	3,011
Other income	507	364
Total revenues	72,841	53,823
Expenses
Commission expense	37,030	31,814
Salaries and employee benefits	9,901	8,196
Other administrative expenses (related party of $841 and $770 for the three months ended March 31, 2026 and 2025, respectively)	7,390	4,724
Depreciation and amortization	6,169	3,359
Total operating expenses	60,490	48,093
Operating income	12,351	5,730
Interest expense	(62)	(83)
Interest income	1,214	1,863
Other non-operating income (expense), net	709	(1)
Income before tax	14,212	7,509
Income tax expense	1,133	656
Net income	13,079	6,853
Less: net income attributable to noncontrolling interests	11,322	5,515
Net income attributable to TWFG, Inc.	$1,757	$1,338
Weighted average shares of common stock outstanding (see Note 13):
Basic	14,794,482	14,889,739
Diluted	14,897,288	15,055,553
Earnings per share (see Note 13):
Basic	$0.12	$0.09
Diluted	$0.12	$0.09

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.