TWFG Inc
For the period ended Jun 30, 2024. Filed Aug 30, 2024.
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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.
Jun 30, 2024 · Filed Aug 30, 2024
TWFG$27.09+1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Financial Position
(Amounts in thousands, except unit data)
| June 30, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $25,755 | $39,297 |
| Restricted cash | 10,758 | 7,171 |
| Commissions receivable, net | 22,401 | 19,082 |
| Accounts receivable | 9,608 | 5,982 |
| Deferred offering costs | 5,917 | 2,025 |
| Other current assets, net | 911 | 1,551 |
| Total current assets | 75,350 | 75,108 |
| Non-current assets | ||
| Intangible assets - net | 77,794 | 36,436 |
| Property and equipment - net | 514 | 597 |
| Lease right-of-use assets - net | 2,760 | 2,459 |
| Other non-current assets | 801 | 837 |
| Total assets | $157,219 | $115,437 |
| Liabilities and Members’ Equity | ||
| Current liabilities | ||
| Commissions payable | $15,301 | $12,487 |
| Carrier liabilities | 15,190 | 8,731 |
| Operating lease liabilities, current | 1,031 | 882 |
| Short-term bank debt | 2,030 | 2,437 |
| Deferred acquisition payable, current | 583 | 5,369 |
| Other current liabilities | 6,913 | 5,006 |
| Total current liabilities | 41,048 | 34,912 |
| Non-current liabilities | ||
| Operating lease liabilities, net of current portion | 1,639 | 1,518 |
| Long-term bank debt | 45,970 | 46,919 |
| Deferred acquisition payable, non-current | 1,050 | 1,037 |
| Total liabilities | 89,707 | 84,386 |
| Commitment and contingencies (see Note 12) | ||
| Members’ equity | ||
| Class A common units (27,689 units and 0 units issued and outstanding at June 30, 2024 and December 31, 2023, respectively) | 28 | — |
| Class B common units (110,750 units issued and outstanding at both June 30, 2024 and December 31, 2023) | 111 | 111 |
| Class C common units (521,000 units issued and outstanding at both June 30, 2024 and December 31, 2023) | 521 | 521 |
| Additional paid-in capital | 55,132 | 25,114 |
| Retained earnings | 11,253 | 4,805 |
| Accumulated other comprehensive income | 467 | 500 |
| Total members’ equity | 67,512 | 31,051 |
| Total liabilities and members’ equity | $157,219 | $115,437 |
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