Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 210

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 210
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 asset was $41.3 million, a decrease from $42.6 million as of December 31, 2024.

Expenses - Three Months Ended March 31, 2025 compared to 2024 

For the three months ended March 31, 2025, employee compensation and benefits were $9.3 million, compared to $9.2 million in the prior year period, an increase of $0.1 million or 0.8%. 

For the three months ended March 31, 2025, interest expense was at $0.3 million, compared to $0.7 million in prior year period, driven by lower interest rates.

For the three months ended March 31, 2025, other expenses $5.7 million, compared to 5.1 million in the prior year period, an increase of $0.6 million, with the increase driven by a higher mortgage operational expenses.

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Income (loss) before taxes - Three Months Ended March 31, 2025 compared to 2024 

The loss before taxes for the three months ended March 31, 2025 was $0.2 million, compared to income before taxes of $0.8 million in the prior year period. The decrease was driven by lower mortgage volumes, negative fair value adjustment in mortgage servicing rights, partially offset by higher and servicing fees.

Tiptree Capital - Other

The following tables present a summary of Tiptree Capital - Other results for the following periods:

Results of Operations

($ in thousands)Three Months EndedMarch 31, 20252024Revenues:Net realized and unrealized gains (losses)$740 $2,141 Other income926 1,433 Total revenue$1,666 $3,574 Expenses:Employee compensation and benefits$102 $107 Other expenses1,380 474 Total expenses$1,482 $581 Income (loss) before taxes$184 $2,993 Non-GAAP Financial Measures (1):Adjusted net income (before NCI)$(447)$653 Adjusted return on average equity(2.9)%2.7 %

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

Revenues

Tiptree Capital - Other earns revenues from the following sources: net interest income, realized and unrealized gains and losses on the Company’s investment holdings (including Inves