TWFG Inc

For the period ended Sep 30, 2024. Filed Nov 13, 2024.

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.

Sep 30, 2024 · Filed Nov 13, 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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Contents

Condensed Consolidated Statements of Stock holders’/Members Equity

Members’ Equity · Class A Common Stock · Class B Voting Stock · Class C Voting Stock
Units · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Additional Paid-In Capital · Retained Earnings · Accumulated Other Comprehensive Income (Loss) · Total Stockholders’ Equity Attributable to TWFG, Inc./ Members' Equity · Noncontrolling Interests · Total Stockholders’/Members' Equity
Balance at December 31, 2023	631,750	$632		–		$—		–	$—	–	$—		$25,114		$4,805		$500		$31,051		$—		$31,051
Net income	–	—		–		—		–	—	–	—		—		6,629		—		6,629		—		6,629
Shares issued	27,689	28		–		—		–	—	–	—		30,018		—		—		30,046		—		30,046
Cash distributions to members	–	—		–		—		–	—	–	—		—		(2,420)		—		(2,420)		—		(2,420)
Other comprehensive income	–	—		–		—		–	—	–	—		—		—		23		23		—		23
Balance at March 31, 2024	659,439	$660		–		$—		–	$—	–	$—		$55,132		$9,014		$523		$65,329		$—		$65,329
Net income	–	—		–		—		–	—	–	—		—		6,918		—		6,918		—		6,918
Cash distributions to members	–	—		–		—		–	—	–	—		—		(4,679)		—		(4,679)		—		(4,679)
Other comprehensive loss	–	—		–		—		–	—	–	—		—		—		(56)		(56)		—		(56)
Balance at June 30, 2024	659,439	$660		–		$—		–	$—	–	$—		$55,132		$11,253		$467		$67,512		$—		$67,512
Net income prior to the Reorganization Transactions and IPO (see Note 1)	—		—		—		—		—	—		—		—		—		1,290		—		1,290		—		1,290
Other comprehensive loss prior to the Reorganization Transactions and IPO	—		—		—		—		—	—		—		—		—		—		(33)		(33)		—		(33)
Effect of the Reorganization Transactions	(659,439)		(660)		2,161,874		22		7,277,651	—		33,893,810		—		(191,733)		—		(319)		(192,690)		192,690		—
Issuance of Class A common stock at the IPO, net of underwriting costs	—		—		12,650,000		126		—	—		—		—		200,548		—		—		200,674		—		200,674
Capitalized offering costs	—		—		—		—		—	—		—		—		(7,800)		—		—		(7,800)		—		(7,800)
Net income after the Reorganization Transactions and IPO	—		—		—		—		—	—		—		—		—		1,154		—		1,154		4,449		5,603
Other comprehensive loss after the Reorganization Transactions and IPO	—		—		—		—		—	—		—		—		—		—		(33)		(33)		(91)		(124)
Stock-based compensation	—		—		—		—		—	—		—		—		1,012		—			1,012		—		1,012
Balance at September 30, 2024	—		$—		14,811,874		$148		7,277,651	$—		33,893,810		$—		$57,159		$13,697		$82		$71,086		$197,048		$268,134

Condensed Consolidated Statements of Stockholders’/Members’ Equity (Continued)

Members’ Equity · Class A Common Stock · Class B Voting Stock · Class C Voting Stock
	Units	Amount	Shares	Amount	Shares	Amount	Shares	Amount	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Stockholders’ Equity Attributable to TWFG, Inc./ Members' Equity	Noncontrolling Interests	Total Stockholders’/Members' Equity
Balance at December 31, 2022	631,750	$632	—	$—	—	$—	—	$—	$25,114	$32,180	$(140)	$57,786	$—	$57,786
Cumulative effect of change in accounting principle (see Note 2)	—	—	—	—	—	—	—	—	—	(271)	—	(271)	—	(271)
Adjusted balance at December 31, 2022	631,750	632	—	—	—	—	—	—	25,114	31,909	(140)	57,515	—	57,515
Net income	—	—	—	—	—	—	—	—	—	6,206	—	6,206	—	6,206
Cash distributions to members	—	—	—	—	—	—	—	—	—	(5,378)	—	(5,378)	—	(5,378)
Other distributions to members	—	—	—	—	—	—	—	—	—	(16,599)	—	(16,599)	—	(16,599)
Other comprehensive income	—	—	—	—	—	—	—	—	—	—	39	39	—	39
Impact of discontinued operation on accumulated other comprehensive income	—	—	—	—	—	—	—	—	—	—	775	775	—	775
Balance at March 31, 2023	631,750	$632	—	$—	—	$—	—	$—	$25,114	$16,138	$674	$42,558	$—	$42,558
Net income	—	—	—	—	—	—	—	—	—	7,067	—	7,067	—	7,067
Cash distributions to members	—	—	—	—	—	—	—	—	—	(5,186)	—	(5,186)	—	(5,186)
Other distributions to members	—	—	—	—	—	—	—	—	—	(3,195)	—	(3,195)	—	(3,195)
Other comprehensive loss	—	—	—	—	—	—	—	—	—	—	48	48	—	48
Balance at June 30, 2023	631,750	$632	—	$—	—	$—	—	$—	$25,114	$14,824	$722	$41,292	$—	$41,292
Net income	—	—	—	—	—	—	—	—	—	7,608	—	7,608	—	7,608
Cash distributions to members	—	—	—	—	—	—	—	—	—	(2,599)	—	(2,599)	—	(2,599)
Other comprehensive loss	—	—	—	—	—	—	—	—	—	—	(35)	(35)	—	(35)
Balance at September 30, 2023	631,750	$632	—	$—	—	$—	—	$—	$25,114	$19,833	$687	$46,266	$—	$46,266

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.