Earnings Releases·Nov 4, 2026, 4:03 PM ET

TWFG — Third Quarter 2026 Earnings Summary

Total revenues rose 24.6% year-over-year to $79.9 million, driven by a 25.9% increase in commission income to $73.4 million and an 18.5% rise in total written premiums to $554.2 million.
Net income declined to $9.0 million (vs. $9.6 million prior year) and adjusted free cash flow fell to $7.5 million (vs. $12.3 million), primarily due to higher administrative expenses, salaries, and working capital changes.
Management raised full-year 2026 guidance, increasing organic revenue growth expectations to 15-17% (from 13-17%) and adjusted EBITDA margin to 24-27% (from 23-27%), while maintaining total revenue guidance at $300-$320 million.
Strategic growth was supported by acquisitions including Select Insurance Solutions and upcoming targets (Loften Wells, Fortress, APIA), with revenue contributions from Agency-in-a-Box, Corporate Stores, and MGA operations all expanding.
The company maintains a strong liquidity position with $77.8 million in unrestricted cash and $125.0 million in unused revolving credit facility capacity as of September 30, 2026.