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TWFG
TWFG (TWFG) investor relations material
TWFG Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Q3 2025 revenues rose 21.3% year-over-year to $64.1 million, driven by 10.2% organic growth and M&A contributions, with net income up 39% to $9.6 million and adjusted EBITDA up 44.7% to $17 million, expanding margin to 26.5%.
Completed key acquisitions, including Alabama Insurance Agency and a 50.1% interest in TWFG MGA FL, LLC, expanding retail and MGA operations.
IPO in July 2024 raised $192.9 million, strengthening liquidity and enabling debt repayment.
Added eight new retail locations, one corporate location, and 370 independent agents; post-quarter, 23 Alabama retail locations were added.
Focus remains on technology investment, accretive M&A, expanding distribution, and disciplined capital deployment.
Financial highlights
Q3 2025 total revenues: $64.1 million (up 21.3%); net income: $9.6 million (up 39%); adjusted EBITDA: $17 million (margin 26.5%).
Written premium increased 16.9% to $467.7 million; commission income up 20.8% to $58.3 million.
Adjusted net income rose 55.3% to $13 million (margin 20.2%).
Operating cash flow: $15 million; cash balance: $151 million; no revolver draws.
Salaries and benefits rose 19.2% to $9.9 million, reflecting headcount growth and acquisitions.
Outlook and guidance
Full-year 2025 guidance: revenues $240M-$245M, organic growth 11%-13%, adjusted EBITDA margin 24%-25%.
Momentum from acquisitions and recruiting supports confidence in year-end targets and continued double-digit organic growth and M&A in 2026.
Sufficient liquidity and $50 million undrawn revolver support growth initiatives.
What drove MGA's Q3 margin expansion?
What was the purpose of the $10M 'other investments'?
M&A focus on revenue vs. premium impact on guidance
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Next TWFG earnings date
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TWFG
Next TWFG earnings date
Q4 202520 Mar, 2026
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Frequently asked questions
TWFG Inc. operates an independent distribution platform offering a broad range of personal and commercial insurance products across the United States. These products include auto, home, renters, life, health, and other types of personal insurance, as well as various commercial lines like general liability, property, business auto, workers' compensation, and professional liability insurance. TWFG represents hundreds of insurance carriers, facilitating coverage for a wide array of risks. The company is headquartered in The Woodlands, Texas, and its shares are listed on the NASDAQ.
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