TWFG, Inc.
For the period ended Jun 30, 2026. Filed Aug 6, 2026.
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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, 2026 · Filed Aug 6, 2026
TWFG$27.09+1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Six Months EndedJune 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash Flows from Operating Activities | ||
| Net income | $30,330 | $15,853 |
| Adjustments to reconcile net income to cash flows from operating activities: | ||
| Depreciation and amortization | 13,234 | 7,260 |
| Net gain on sales of intangible assets and property and equipment | (701) | (573) |
| Stock-based compensation expense | 2,022 | 2,719 |
| Non-cash lease expense | 801 | 636 |
| Other non-cash items | (16) | 3 |
| Change in: | ||
| Commissions receivable, net | (9,504) | 1,833 |
| Accounts receivable | (6,772) | (1,514) |
| Other current and non-current assets | (3,859) | (1,606) |
| Commissions payable | 5,561 | 2,375 |
| Operating lease liabilities | (848) | (546) |
| Other current liabilities | 2,289 | (1,180) |
| Net cash provided by operating activities | 32,537 | 25,260 |
| Cash Flows from Investing Activities | ||
| Proceeds from sale of books of business | 700 | 573 |
| Proceeds from sale of property and equipment | 1 | — |
| Disposal of fixed assets | — | 6 |
| Purchase of intangible assets | (53,234) | (47,226) |
| Purchase of property and equipment | (797) | (59) |
| Net cash used in investing activities | (53,330) | (46,706) |
| Cash Flows from Financing Activities | ||
| Repayment of borrowings | (979) | (949) |
| Distributions to members | (18,564) | (13,263) |
| Repurchase of Class A common stock | (42,857) | — |
| Tax withholding on vesting of equity awards | (86) | (1,195) |
| Increase in carrier liabilities | 10,971 | 5,623 |
| Decrease in carrier liabilities | (1,945) | (2,790) |
| Payment of deferred acquisition payable | (896) | (302) |
| Net cash used in financing activities | (54,356) | (12,876) |
Condensed Consolidated Statements of Cash Flows (continued)
| Six Months EndedJune 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Net change in cash, cash equivalents and restricted cash | (75,149) | (34,322) |
| Cash, cash equivalents and restricted cash-beginning balance | 167,900 | 205,323 |
| Cash, cash equivalents and restricted cash-ending balance | $92,751 | $171,001 |
| Net change in cash and cash equivalents | $(82,181) | $(35,945) |
| Net change in restricted cash | 7,032 | 1,623 |
| Net change in cash, cash equivalents and restricted cash | $(75,149) | $(34,322) |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $71 | $105 |
| Cash paid for taxes | $3,060 | $— |
| Non-cash investing activities: | ||
| Additions to intangible assets and offsetting additions to deferred acquisition payable | $(186) | $2,980 |
| Additions to intangible assets and offsetting to redeemable noncontrolling interest | $— | $9,688 |
| Non-cash financing activities: | ||
| Repurchase of Class A common stock and offsetting additions to other liabilities | $429 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.