Business
TWFG Announces Second Quarter 2024 Results
– Total Written Premium increased 20.3% over the prior year period to $393.6 million –– Total Revenue increased 17.4% over the prior year period to $53.3
About this update from Twfg, Inc.
[{"type":"text","content":"– Total Written Premium increased 20.3% over the prior year period to $393.6 million –– Total Revenue increased 17.4% over the prior year period to $53.3 million –– Organic Revenue Growth Rate* of 13.8% –– Net Income of $6.9 million –– Adjusted Net Income* increased 18.1% over the prior year period to $9.8 million –– Adjusted EBITDA* increased 25.8% over the prior year period to $10.8 million –– Completed Initial Public Offering in July 2024 –\nTHE WOODLANDS, Texas, Aug. 27, 2024 /PRNewswire/ -- TWFG, Inc. (\"TWFG\" or the \"Company\") (NASDAQ: TWFG), a high-growth insurance distribution company, today announced results for the second quarter ended June 30, 2024.\n\n \n \n \n \n \n \n\n \nSecond Quarter 2024 Highlights\nTotal Written Premium for the quarter increased 20.3% to $393.6 million, compared to $327.2 million in the same period in the prior yearTotal revenues for the quarter increased 17.4% to $53.3 million, compared to $45.4 million in the same period in the prior yearOrganic Revenue Growth Rate* for the quarter was 13.8%Net income for the quarter was $6.9 million, compared to $7.1 million in the same period in the prior yearAdjusted Net Income* for the quarter increased 18.1% over the prior year period to $9.8 million, and Adjusted Net Income Margin* for the quarter was 18.4%Adjusted EBITDA* for the quarter increased 25.8% over the prior year period to $10.8 million, and Adjusted EBITDA Margin* for the quarter was 20.2%Cash flow from operating activities for the quarter was $7.4 million, compared to $6.9 million in the same period in the prior yearAdjusted Free Cash Flow* for the quarter was $3.7 million, compared to $1.9 million in the same period in the prior year*Organic Revenue Growth Rate, Adjusted Net Income, Adjusted Net Income Margin, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Free Cash Flow are non-GAAP measures. Reconciliations of Organic Revenue Growth Rate to total revenue growth rate, Adjusted Net income and Adjusted EBITDA to net income, and Adjusted Free Cash Flow to cash flow from operating activities, the most directly comparable financial measures presented in accordance with GAAP, are outlined in the reconciliation table accompanying this release.\n\"We delivered a strong second quarter and our value proposition to independent and captive agents continues to resonate in the marketplace\" ...