Tiptree Q3 continuing operations earn $4.62M
The nine-month total included $417.645 million from discontinued operations, while continuing operations posted a net loss of $8.965 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Tiptree Inc. (TIPT) reported results for the three and nine months ended September 30, 2026, including diluted earnings per share of $0.14 and $10.82, respectively. Third-quarter net income from continuing operations was $4.623 million, compared with a $9.504 million loss a year earlier. For the nine months, net income attributable to common stockholders was $408.680 million, versus $31.016 million in 2025; this included $417.645 million from discontinued operations, while continuing operations recorded a loss of $8.965 million.
Tiptree entered into a definitive agreement to acquire Universal Shield Insurance Group, a specialty property and casualty insurer, for $100.0 million in cash, adjusted for certain closing costs. The transaction remains subject to regulatory approvals and customary closing conditions and is expected to close in the first quarter of 2027. As of September 30, 2026, Tiptree's book value was $903 million, or $24.47 per share ($23.99 per diluted share).
Through October 28, 2026, Tiptree had repurchased $25.0 million of common stock in 2026 at an average 30% discount to book value per share. The board declared a $0.06-per-share cash dividend, with a November 16, 2026 record date and November 23, 2026 payment date.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter continuing operations: $4.623 million income versus $9.504 million loss in 2025.
Negative
- None.
Filing Explained
At
8-K Event Classification
Key Figures
Key Terms
discontinued operations financial
non-GAAP financial measures financial
non-controlling interests financial
Earnings Snapshot
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were TIPT's results for the first nine months of 2026?
What are the terms of TIPT's planned acquisition of USIG?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
||
|
|
|
|
|
|
||||
|
||||
(Address of Principal Executive Offices) |
|
(Zip Code) |
||
Registrant’s Telephone Number, Including Area Code: |
|
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
|
|
Trading |
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On October 28, 2026 Tiptree issued a press release announcing its results of operations for the nine months ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
Included in the press release furnished as Exhibit 99.1 was an announcement that the board of directors of the Company has declared a cash dividend of $0.06 per share to Tiptree’s stockholders, with a record date of November 16, 2026 and a payment date of November 23, 2026.
The information in Items 2.02 and 7.01 of this Current Report on Form 8-K, including the information contained in Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section. Furthermore, the information in Items 2.02 and 7.01 of this Current Report on Form 8-K, including the information contained in Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) List of Exhibits:
Exhibit No. |
|
Description |
99.1 |
|
Tiptree Inc. press release, dated October 28, 2026. |
104 |
|
Cover Page Interactive Data File (formatted as Inline XBRL). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
Tiptree Inc. |
|
|
|
|
|
|
Date: |
October 28, 2026 |
|
By: |
/s/ Michael G. Barnes |
|
|
|
Name: |
Michael G. Barnes |
|
|
|
Title: |
Chairman and Chief Executive Officer |
Exhibit 99.1
TIPTREE ANNOUNCES THIRD QUARTER 2026 RESULTS
Greenwich, Connecticut – October 28, 2026– Tiptree Inc. (NASDAQ:TIPT) (“Tiptree” or the “Company”), today announced its financial results for the three and nine months ended September 30, 2026.
Third Quarter 2026 Highlights
($ in thousands, except per share information) |
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
GAAP: |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Income (loss) before taxes |
|
$ |
5,063 |
|
|
$ |
(11,374 |
) |
|
$ |
(8,363 |
) |
|
$ |
(35,139 |
) |
Net income (loss) from continuing operations |
|
$ |
4,623 |
|
|
$ |
(9,504 |
) |
|
$ |
(8,965 |
) |
|
$ |
(29,650 |
) |
Net income (loss) from discontinued operations |
|
$ |
578 |
|
|
$ |
15,925 |
|
|
$ |
417,645 |
|
|
$ |
60,666 |
|
Diluted earnings per share |
|
$ |
0.14 |
|
|
$ |
0.13 |
|
|
$ |
10.82 |
|
|
$ |
0.70 |
|
Cash dividends paid per common share |
|
$ |
0.06 |
|
|
$ |
0.06 |
|
|
$ |
0.18 |
|
|
$ |
0.18 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-GAAP (1): |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Book value per share |
|
$ |
24.47 |
|
|
$ |
13.36 |
|
|
$ |
24.47 |
|
|
$ |
13.36 |
|
(1) See “—Non-GAAP Reconciliations” for a discussion of non-GAAP financial measures.
About Tiptree
Tiptree Inc. (NASDAQ: TIPT) is an insurance holding company focused on building and growing P&C insurance businesses in specialized markets. The Company’s strategy combines experienced management teams, disciplined underwriting and prudent investment and capital management to create long-term shareholder value. Tiptree seeks to build businesses distinguished by underwriting expertise, strong distribution relationships and sustainable profitability, with the objective of compounding book value per share over time. For more information, please visit tiptreeinc.com and follow us on LinkedIn.
Page 1
Forward-Looking Statements
This release contains “forward-looking statements” which involve risks, uncertainties and contingencies, many of which are beyond the Company’s control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “should,” “target,” “will,” or similar expressions are intended to identify forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the Company’s plans, objectives, expectations for our businesses and intentions. The forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecast in the forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including, but not limited to those described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K, and as described in the Company’s other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of this release. The factors described therein are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could affect our forward-looking statements. Consequently, our actual performance could be materially different from the results described or anticipated by our forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by the federal securities laws, we undertake no obligation to update any forward-looking statements.
Page 2
Tiptree Inc.
Condensed Consolidated Balance Sheets (Unaudited)
($ in thousands, except share data)
|
|
As of |
|
|||||
|
|
September 30, |
|
|
December 31, |
|
||
Assets: |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
198,312 |
|
|
$ |
30,784 |
|
Marketable securities |
|
|
589,555 |
|
|
|
21,701 |
|
Other current assets |
|
|
12,251 |
|
|
|
2,361 |
|
Total current assets |
|
|
800,118 |
|
|
|
54,846 |
|
Corporate securities |
|
|
122,137 |
|
|
|
— |
|
Right of use asset |
|
|
7,034 |
|
|
|
8,301 |
|
Property, plant and equipment, net |
|
|
5,179 |
|
|
|
6,262 |
|
Deferred tax assets |
|
|
7,210 |
|
|
|
— |
|
Other assets |
|
|
3,148 |
|
|
|
2,269 |
|
Assets held for sale (1) |
|
|
— |
|
|
|
6,768,387 |
|
Total assets |
|
$ |
944,826 |
|
|
$ |
6,840,065 |
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
||
Liabilities: |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Short-term debt, net |
|
$ |
— |
|
|
$ |
8,138 |
|
Current tax payable |
|
|
20,358 |
|
|
|
— |
|
Other current liabilities |
|
|
14,818 |
|
|
|
20,964 |
|
Total current liabilities |
|
|
35,176 |
|
|
|
29,102 |
|
Long-term debt, net |
|
|
— |
|
|
|
63,948 |
|
Long-term lease obligations |
|
|
7,118 |
|
|
|
8,654 |
|
Deferred tax liabilities |
|
|
— |
|
|
|
80,390 |
|
Liabilities held for sale (1) |
|
|
— |
|
|
|
5,905,572 |
|
Total liabilities |
|
$ |
42,294 |
|
|
$ |
6,087,666 |
|
Stockholders’ Equity: |
|
|
|
|
|
|
||
Preferred stock: $0.001 par value, 100,000,000 shares authorized, none issued or outstanding |
|
$ |
— |
|
|
$ |
— |
|
Common stock: $0.001 par value, 200,000,000 shares authorized, 36,877,761 and 37,824,472 shares issued and outstanding, respectively |
|
|
37 |
|
|
|
38 |
|
Additional paid-in capital |
|
|
381,068 |
|
|
|
394,435 |
|
Accumulated other comprehensive income (loss), net of tax |
|
|
(2,057 |
) |
|
|
(7,496 |
) |
Retained earnings |
|
|
523,484 |
|
|
|
121,574 |
|
Total Tiptree Inc. stockholders’ equity |
|
|
902,532 |
|
|
|
508,551 |
|
Non-controlling interests: |
|
|
|
|
|
|
||
Fortegra preferred interests |
|
|
— |
|
|
|
77,679 |
|
Common interests |
|
|
— |
|
|
|
166,169 |
|
Total non-controlling interests |
|
|
— |
|
|
|
243,848 |
|
Total stockholders’ equity |
|
|
902,532 |
|
|
|
752,399 |
|
Total liabilities and stockholders’ equity |
|
$ |
944,826 |
|
|
$ |
6,840,065 |
|
Page 3
Tiptree Inc.
Condensed Consolidated Statements of Operations (Unaudited)
($ in thousands, except share data)
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Other revenue |
|
$ |
— |
|
|
$ |
3 |
|
|
$ |
— |
|
|
$ |
485 |
|
Total revenues |
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
485 |
|
Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Employee compensation and benefits |
|
|
3,872 |
|
|
|
10,436 |
|
|
|
17,136 |
|
|
|
26,754 |
|
Depreciation and amortization |
|
|
365 |
|
|
|
365 |
|
|
|
1,083 |
|
|
|
1,083 |
|
Other expenses |
|
|
1,752 |
|
|
|
2,086 |
|
|
|
5,818 |
|
|
|
9,984 |
|
Total expenses |
|
|
5,989 |
|
|
|
12,887 |
|
|
|
24,037 |
|
|
|
37,821 |
|
Operating income (loss) before taxes |
|
|
(5,989 |
) |
|
|
(12,884 |
) |
|
|
(24,037 |
) |
|
|
(37,336 |
) |
Non operating income: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net realized and unrealized gains (losses) |
|
|
(3 |
) |
|
|
273 |
|
|
|
(264 |
) |
|
|
(441 |
) |
Other income |
|
|
11,055 |
|
|
|
1,237 |
|
|
|
15,938 |
|
|
|
2,638 |
|
Income (loss) before taxes |
|
|
5,063 |
|
|
|
(11,374 |
) |
|
|
(8,363 |
) |
|
|
(35,139 |
) |
Less: provision (benefit) for income taxes |
|
|
440 |
|
|
|
(1,870 |
) |
|
|
602 |
|
|
|
(5,489 |
) |
Net income (loss) from continuing operations |
|
|
4,623 |
|
|
|
(9,504 |
) |
|
|
(8,965 |
) |
|
|
(29,650 |
) |
Discontinued operations: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income (loss) from discontinued operations (1) |
|
|
578 |
|
|
|
15,925 |
|
|
|
417,645 |
|
|
|
60,666 |
|
Net income (loss) attributable to common stockholders |
|
$ |
5,201 |
|
|
$ |
6,421 |
|
|
$ |
408,680 |
|
|
$ |
31,016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income (loss) from continuing operations per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic earnings per share |
|
$ |
0.12 |
|
|
$ |
(0.25 |
) |
|
$ |
(0.24 |
) |
|
$ |
(0.79 |
) |
Diluted earnings per share |
|
$ |
0.12 |
|
|
$ |
(0.25 |
) |
|
$ |
(0.24 |
) |
|
$ |
(0.79 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income (loss) from discontinued operations per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic earnings per share |
|
$ |
0.02 |
|
|
$ |
0.42 |
|
|
$ |
11.14 |
|
|
$ |
1.62 |
|
Diluted earnings per share |
|
$ |
0.02 |
|
|
$ |
0.38 |
|
|
$ |
11.06 |
|
|
$ |
1.49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income (loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic earnings per share |
|
$ |
0.14 |
|
|
$ |
0.17 |
|
|
$ |
10.90 |
|
|
$ |
0.83 |
|
Diluted earnings per share |
|
$ |
0.14 |
|
|
$ |
0.13 |
|
|
$ |
10.82 |
|
|
$ |
0.70 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average number of common shares: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
|
37,219,388 |
|
|
|
37,565,019 |
|
|
|
37,501,234 |
|
|
|
37,470,832 |
|
Diluted |
|
|
37,788,015 |
|
|
|
37,565,019 |
|
|
|
37,501,234 |
|
|
|
37,470,832 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Dividends declared per common share |
|
$ |
0.06 |
|
|
$ |
0.06 |
|
|
$ |
0.18 |
|
|
$ |
0.18 |
|
Page 4
Tiptree Inc.
Non-GAAP Financial Measures — Book Value per share
Book value is frequently used by the financial community to analyze company growth on a relative per share basis. The following table provides a reconciliation between total stockholders’ equity and total shares outstanding, net of treasury shares.
(in thousands, except per share information) |
|
As of September 30, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Total stockholders’ equity |
|
$ |
902,532 |
|
|
$ |
741,418 |
|
Less: Non-controlling interests |
|
|
- |
|
|
|
236,244 |
|
Total stockholders’ equity, net of non-controlling interests |
|
|
902,532 |
|
|
|
505,174 |
|
|
|
|
|
|
|
|
||
Total common shares outstanding |
|
|
36,878 |
|
|
|
37,820 |
|
|
|
|
|
|
|
|
||
Book value per share |
|
$ |
24.47 |
|
|
$ |
13.36 |
|
Page 5