Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 43

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 43
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 with acquisition purchase accounting. See Note (7) Goodwill and Intangible Assets, net, for the period ended June 30, 2025.(3)     For the three and six months ended June 30, 2025 and 2024, included in other expenses were expenses related to legal, banker and other expenses including expenses associated with preparation of the registration statement for the withdrawn Fortegra initial public offering in 2024.(4)        For the three and six months ended June 30, 2025 and 2024, non-cash fair-value adjustments represent a change in fair value of the Fortegra Additional Warrant liability.(5)       For the three and six months ended June 30, 2025 and 2024, included in the adjustment is an add-back of $7.9 million and $6.4 million, respectively, and $12.7 million and $10.8 million, respectively, related to deferred tax expense from the WP Transaction.(6)        Tax on adjustments represents the tax applied to the total non-GAAP adjustments and includes adjustments for non-recurring or discrete tax impacts.(7)     Total Adjusted return on average equity after non-controlling interests was 22.3% and 22.7% for the three months ended June 30, 2025 and 2024, respectively, based on $27.1 million and 24.4 million of Adjusted net income over $486.8 million and $430.6 million of average Tiptree Inc. stockholders’ equity. Total Adjusted return on average equity after non-controlling interests was 21.1% and 21.1% for the six months ended June 30, 2025 and 2024, respectively, based on $50.5 million and $45.0 million of Adjusted net income over $478.8 million and $426.7 million of average Tiptree Inc. stockholders’ equity.Book Value per share - Non-GAAP75

Table of ContentsManagement believes the use of this financial measure provides supplemental information useful to investors as book value is frequently used by the financial community to analyze company growth on a relative per share basis. The following table provides a reconciliation between total stockholders’ equity and total shares outstanding, net of treasury shares. ($ in thousands, except per share information)As of June 30, 20252024Total stockholders’ equity$723,368 $618,069 Less: Non-cont