Every 10-Q that TWFG INC (TWFG) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TWFG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TWFG filings page.
TWFG, Inc. reported strong growth for the three and six months ended June 30, 2026. Total revenues reached $87.5 million in the quarter and $160.4 million year to date, up 45.1% and 40.5% from 2025. Growth was led by commission income, especially at TWFG MGA, where acquisitions such as TWFG MGA FL and the APIA MGA programs and higher commission rates drove large increases, while the Agency-in-a-Box and Corporate Branch networks also continued to expand.
Operating income rose to $17.6 million for the quarter and $29.9 million year to date, with commission expense declining to 61% of revenues from 65%, and net income increasing to $17.3 million and $30.3 million. Net income attributable to TWFG, Inc. was $2.4 million for the quarter and $4.1 million year to date, or diluted EPS of $0.18 and $0.29. Cash from operating activities was $32.5 million, while cash and restricted cash declined to $92.8 million after cash acquisitions of Fortress ($23.5 million) and APIA ($22.5 million), significant investment in customer-list intangibles and a $43.3 million share repurchase program; bank debt was modest at $3.0 million with a fully undrawn $50.0 million revolver.
TWFG, Inc. reported strong growth for the three months ended March 31, 2026, with total revenues of $72.8 million, up 35.3% year over year. Net income rose to $13.1 million from $6.9 million, while diluted earnings per share increased to $0.12 from $0.09. Growth was driven mainly by higher commission income, including expansion of the TWFG MGA offering and the contribution from TWFG MGA FL. Total written premium grew 23.5% to $458.2 million, supported by both renewal and new business. The company continued its acquisition strategy, purchasing Asset Protection Insurance Associates for $22.5 million, and repurchased 872,397 Class A shares for $16.7 million under a new $50 million buyback program, while maintaining modest bank debt and an undrawn $50.0 million revolving credit facility.
TWFG, Inc. reported stronger Q3 results. Total revenues rose to $64.1 million from $52.9 million, driven by higher commission and fee income. Operating income increased to $9.0 million from $6.0 million, and net income reached $9.6 million versus $6.9 million. Diluted earnings per share were $0.11 compared with $0.08.
Year-to-date, revenues were $178.3 million (up from $152.0 million) with operating income of $22.1 million. Cash flow from operating activities was $40.2 million for the nine months, supporting investment in growth. Cash and cash equivalents were $151.0 million as of September 30, 2025. Interest expense declined markedly as debt balances fell.
Growth was broad-based: Insurance Services Agency-in-a-Box generated $37.6 million in Q3 revenue and TWFG MGA contributed $13.9 million. The company expanded intangible assets via acquisitions, including a 50.1% interest in a Florida MGA with a recognized customer relationship asset of $21.0 million and an earn-out of up to $5.0 million. The Progressive Corporation accounted for 11% of Q3 revenue. Liquidity remained solid with an undrawn $50.0 million revolving facility.
TWFG, Inc. reported continued top-line growth with total revenues of $60.3 million for the quarter (up 13.8% year-over-year) and $114.1 million for the six months (up 15.1%). Commission income remains the dominant revenue source at ~90% of total revenues, rising to $54.6 million for the quarter and $103.3 million for six months. Net income for the quarter was $9.0 million and $15.9 million for the six months, with income tax expense of $0.6 million and $1.3 million, respectively.
The company invested heavily in intangible assets and acquisitions during the period, recording $36.8 million of intangible asset acquisitions (including a 50.1% interest in TWFG MGA FL, LLC for $9.7 million and recognizing a $19.4 million customer relationship asset). Operating cash flow improved to $25.3 million for the six months versus $17.2 million prior year, while net cash used in investing was $46.7 million. TWFG exited the quarter with cash and cash equivalents of $159.8 million and maintained an unused revolving credit capacity of $50.0 million. The company disclosed post-period acquisitions and is evaluating recently enacted tax legislation for potential impacts.