Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 125

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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iptree Capital - Other. Corporate activities include holding company interest expense, corporate employee compensation and benefits, and other expenses, including public company expenses.

54

The following tables present the components of Revenue, Income (loss) before taxes and Adjusted net income for the following periods:

($ in thousands)Three Months Ended June 30, Six Months EndedJune 30, 2025202420252024Revenues:Insurance$513,017 $529,942 $993,598 $1,008,698 Mortgage16,232 15,883 31,411 31,774 Tiptree Capital - other(499)848 1,167 4,422 Corporate— — — — Total revenues$528,750 $546,673 $1,026,176 $1,044,894 Income (loss) before taxes:Insurance$67,144 $51,250 $105,198 $88,061 Mortgage238 528 28 1,281 Tiptree Capital - other(3,305)212 (3,121)3,205 Corporate(11,365)(11,344)(24,043)(22,202)Total income (loss) before taxes$52,712 $40,646 $78,062 $70,345 Non-GAAP - Adjusted net income: (1)Insurance$35,711 $31,959 $67,728 $59,016 Mortgage17 181 627 (128)Tiptree Capital - other(409)175 (856)828 Corporate(8,191)(7,893)(17,039)(14,761)Total adjusted net income$27,128 $24,422 $50,460 $44,955 

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

Insurance

Our principal operating subsidiary, Fortegra, is a specialty insurance underwriter and service provider, which focuses on niche lines and fee-oriented services. The combination of specialty insurance underwriting, service contract products, and related service solutions delivered through a vertically integrated business model creates a blend of traditional underwriting revenues, investment income and unregulated fee revenues. The business is an agent-driven model, distributing products through independent insurance agents, consumer finance companies, online retailers, auto dealers