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 Operations
(Amounts in thousands, except unit and per unit data)
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues | ||||
| Commission income (related party of $1,912 and $947 for the three months ended and $3,021 and $1,897 for the six months ended June 30, 2024 and 2023, respectively) | $48,662 | $41,771 | $91,207 | $78,458 |
| Contingent income | 1,258 | 1,003 | 2,334 | 1,988 |
| Fee income (related party of $561 and $411 for the three months ended and $915 and $839 for the six months ended June 30, 2024 and 2023, respectively) | 2,689 | 2,208 | 4,921 | 4,236 |
| Other income | 657 | 394 | 1,117 | 550 |
| Total revenues | 53,266 | 45,376 | 99,579 | 85,232 |
| Expenses | ||||
| Commission expense | 31,962 | 30,896 | 58,405 | 58,392 |
| Salaries and employee benefits | 6,816 | 3,370 | 13,070 | 6,706 |
| Other administrative expenses (related party of $382 and $99 for the three months ended and $783 and $92 for the six months ended June 30, 2024 and 2023, respectively) | 3,744 | 2,736 | 6,874 | 5,231 |
| Depreciation and amortization | 2,968 | 1,134 | 5,981 | 2,195 |
| Total operating expenses | 45,490 | 38,136 | 84,330 | 72,524 |
| Operating income | 7,776 | 7,240 | 15,249 | 12,708 |
| Interest expense | (872) | (173) | (1,714) | (258) |
| Other non-operating income (expense), net | 14 | — | 12 | (11) |
| Net income from continuing operations | 6,918 | 7,067 | 13,547 | 12,439 |
| Net income from discontinued operation, net of tax | — | — | — | 834 |
| Net income | $6,918 | $7,067 | $13,547 | $13,273 |
| Weighted average units used in the computation of net income per unit (see Note 10): | ||||
| Basic | 659,439 | 631,750 | 659,439 | 631,750 |
| Diluted | 659,439 | 631,750 | 659,439 | 631,750 |
| Net income per unit: | ||||
| Net income from continuing operations per unit - basic | $10.49 | $11.19 | $20.54 | $19.69 |
| Net income from continuing operations per unit - diluted | $10.49 | $11.19 | $20.54 | $19.69 |
| Net income from discontinued operation per unit - basic | $— | $— | $— | $1.32 |
| Net income from discontinued operation per unit - diluted | $— | $— | $— | $1.32 |
| Net income per unit - basic | $10.49 | $11.19 | $20.54 | $21.01 |
| Net income per unit - diluted | $10.49 | $11.19 | $20.54 | $21.01 |
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