The Baldwin Insurance Group, Inc. reported fourth quarter and full year 2025 results and authorized a share repurchase of up to $250 million of its common stock. Full year 2025 total revenue rose 8% to $1.5 billion, with organic revenue growth of 7%.
The company posted a GAAP net loss of $54.2 million, or $0.50 diluted loss per share, but generated adjusted net income of $198.9 million and adjusted diluted EPS of $1.67, up 11% year-over-year. Adjusted EBITDA grew to $341.5 million with a 22.7% margin. In the fourth quarter, revenue increased 5% to $347.3 million and adjusted EBITDA reached $69.6 million with a 20.1% margin, while GAAP net loss was $43.7 million. Cash and cash equivalents were $123.7 million at December 31, 2025, and adjusted free cash flow for the year was $87.2 million.
Baldwin Insurance Group, Inc. Chief Financial Officer Hale Bradford reported equity compensation transactions in Class A common stock. On February 23, 2026, he acquired 29,544 shares at $0.00 per share through the settlement of performance-based restricted stock units granted in 2023, following achievement of predetermined performance goals. On the same date, 7,633 shares at $16.57 per share were disposed of to cover income tax withholding obligations related to this share issuance. After these transactions, Bradford directly owned 166,570 shares of Class A common stock. An additional 10,000 shares are held indirectly through the Amy W. Hale Revocable Trust, for which his spouse serves as sole trustee.
Baldwin Insurance Group, Inc. Chief Accounting Officer Corbyn N. Lichon reported a mix of equity award and related tax withholding transactions in Class A common stock. On February 23, 2026, Lichon acquired 4,744 shares at a price of $0.00 per share through settlement of performance-based restricted stock units granted in 2023, which vested based on predetermined performance goals.
On the same date, 1,880 shares were disposed of at $16.57 per share, representing shares withheld by the issuer to cover income tax obligations arising from the award. Following these transactions, Lichon directly owned 49,536 shares of Class A common stock.
Baldwin Insurance Group General Counsel Seth Bala Cohen reported equity compensation activity in Class A common stock. He acquired 10,167 shares at no cost upon settlement of performance-based restricted stock units granted in 2023, which vested based on predetermined performance goals.
To cover income tax withholding obligations related to this award, 2,915 shares were withheld by the company at a price of $16.57 per share. After these transactions, Cohen directly holds 17,717 shares of Baldwin Insurance Group Class A common stock.
Baldwin Insurance Group, Inc. officer James Morgan Roche reported equity compensation activity involving Class A common stock. He acquired 29,544 shares at $0.00 per share as settlement of performance-based restricted stock units granted in 2023, after predetermined performance goals were achieved. To cover income tax withholding on this issuance, 8,847 shares were withheld by the company at $16.57 per share, a tax-withholding disposition rather than an open-market sale. Following these transactions, he directly holds 62,810 shares of Class A common stock.
Baldwin Insurance Group, Inc. officer Daniel Galbraith reported equity compensation activity in Class A common stock. On February 23, 2026, he acquired 29,544 shares at $0.00 per share through settlement of performance-based restricted stock units granted in 2023, after predetermined performance goals were achieved.
On the same date, 7,630 shares were disposed of at $16.57 per share as shares withheld by the issuer to cover income tax withholding obligations related to this award settlement, rather than an open-market sale. Following these transactions, Galbraith directly owned 25,763 Class A shares.
Baldwin Insurance Group, Inc. Chief Executive Officer Trevor Baldwin reported equity compensation activity involving Class A common stock. On February 23, 2026, he acquired 65,655 shares at $0.00 per share as a grant/award, issued in settlement of performance-based restricted stock units granted in 2023 that settled based on predetermined performance goals.
On the same date, 17,157 shares were disposed of at $16.57 per share through a tax-withholding disposition, with shares withheld by the issuer to satisfy income tax obligations related to the PSU share issuance. Following these transactions, Baldwin directly held 59,832 Class A shares and indirectly held 27,676 Class A shares through the TLB 2020 Trust.
Capital International Investors has disclosed a significant passive stake in The Baldwin Insurance Group, Inc. As of December 31, 2025, it is deemed to beneficially own 3,618,132 shares of Baldwin’s common stock, representing 5.1% of the class based on 71,589,503 shares believed outstanding.
The firm reports sole voting and dispositive power over all 3,618,132 shares and no shared power. The filing notes that the securities were acquired and are held in the ordinary course of business and are not intended to change or influence control of Baldwin Insurance Group.
Champlain Investment Partners, LLC, a Vermont-based investment adviser, filed a Schedule 13G reporting a passive ownership stake in Baldwin Insurance Group, Inc. common stock as of 12/31/2025.
Champlain reports beneficial ownership of 3,650,410 shares, representing 3.8% of Baldwin Insurance’s common stock. It has sole voting power over 3,439,025 shares and sole dispositive power over 3,650,410 shares, with no shared voting or dispositive power.
Champlain certifies that the shares were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of Baldwin Insurance Group, nor in connection with any control-related transaction.
Champlain Investment Partners, LLC reported beneficial ownership of 3,915,879 shares of Baldwin Insurance Group, Inc. common stock, representing 5.5% of the class as of the reported date. Champlain has sole voting power over 2,916,824 shares and sole dispositive power over 3,915,879 shares, with no shared voting or dispositive power.
The firm is a Vermont-based investment adviser filing on a passive basis and certifies that the shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Baldwin Insurance Group.