Business Wire·Nov 9, 2026, 4:05 PM ET

The Baldwin Group Announces Third Quarter 2026 Results

BWIN

The Baldwin Group reported third-quarter 2026 total revenue of $480.3 million, representing a 31% year-over-year increase.
The company recorded a GAAP net loss of $81.6 million, or $0.63 per diluted share, for the third quarter ended September 30, 2026.
Adjusted net income for the quarter was $59.4 million, resulting in an adjusted diluted EPS of $0.42, up 35% year-over-year.
Adjusted EBITDA grew 47% to $106.9 million, with an adjusted EBITDA margin of 22.2%.
Organic revenue growth for the third quarter was 6% year-over-year, while CAC Group total revenue growth reached 14%.
Net cash provided by operating activities was $54.2 million, and adjusted free cash flow increased 33% to $55.6 million.
For the nine months ended September 30, 2026, total revenue reached $1.5 billion, a 30% increase from the prior year.
Nine-month GAAP net loss was $139.5 million, while adjusted net income was $217.2 million with adjusted diluted EPS of $1.53.
As of September 30, 2026, the company held $188.6 million in cash and cash equivalents with $289.1 million of borrowing capacity available.
On September 14, 2026, the company entered a definitive merger agreement for an all-cash take-private transaction led by Sequence AI Holdings, Inc. & DFO Management, LLC.
Under the merger terms, shareholders will receive $32.50 per share in cash, with the transaction expected to close in the first quarter of 2027.
Upon completion of the transaction, Baldwin's common stock will cease trading on Nasdaq, & the company will become privately held.