Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 30

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 30
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Depreciation and amortization79 97 153 222 Other expenses5,696 5,353 11,393 10,476 Total expenses$15,994 $15,355 $31,383 $30,493 Income (loss) before taxes$238 $528 $28 $1,281 Key Performance Metrics:Origination volumes$244,477 $226,871 $453,619 $437,273 Gain on sale margins4.6 %4.6 %4.7 %4.8 %Return on average equity1.4 %3.1 %0.2 %3.8 %Non-GAAP Financial Measures (1):Adjusted net income$17 $181 $627 $(128)Adjusted return on average equity0.1 %1.4 %2.2 %(0.5)%

(1)    See “—Non-GAAP Reconciliations” for a discussion of non-GAAP financial measures.

Revenues - Three and Six Months ended June 30, 2025 compared to 2024

For the three months ended June 30, 2025, $244.5 million of loans were funded, compared to $226.9 million for 2024, an increase of $17.6 million, or 7.8%. Gain on sale margins remained consistent at 4.6% for the three months ended June 30, 2025 and 2024. For the six months ended June 30, 2025, $453.6 million of loans were funded, compared to $437.3 million for the prior year period, an increase of $16.3 million, or 3.7%. Gain on sale margins decreased to 4.7% for the six months ended June 30, 2025, as compared to 4.8% for the six months ended June 30, 2024.

Net realized and unrealized gains for the three months ended June 30, 2025 and 2024 were $10.1 million. Net realized and unrealized gains for the six months ended June 30, 2025 were $19.6 million, compared to $20.8 million in the prior year period, a decrease of $1.2 million or 5.6%. The primary driver of decreased gain on sale revenues for six months