Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 259

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part II, Item 8
Chunk 259
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 2025 compared to 2024 

The loss before taxes from Tiptree Capital - Other for the three months ended June 30, 2025 was $3.3 million, compared to the income before taxes of $0.2 million in 2024. The loss before taxes from Tiptree Capital - Other for the six months ended June 30, 2025 was $3.1 million, compared to the income before taxes of $3.2 million in the prior year period driven by increased other expenses.

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Adjusted net income - Non-GAAP (1)

Adjusted net loss from Tiptree Capital - Other for the three months ended June 30, 2025 was $0.4 million, compared to adjusted net income of $0.2 million in 2024. Adjusted net loss for the six months ended June 30, 2025 was $0.9 million, compared to the adjusted net income of $0.8 million in 2024, with the decrease driven by increased other expenses, and lower interest income on cash and cash equivalents and U.S. Treasury securities recorded in other income.

Corporate

The following table presents a summary of corporate results for the following periods:

Results of Operations

($ in thousands)Three Months Ended June 30, Six Months Ended June 30, 20252025202420252024Employee compensation and benefits$1,775 $2,080 $3,938 $3,876 Employee incentive compensation expense5,091 6,765 12,159 13,359 Interest expense2,064 — 3,236 — Depreciation and amortization361 361 718 721 Other expenses2,074 2,138 3,992 4,246 Total expenses$11,365 $11,344 $24,043 $22,202 

Corporate expenses include expenses of the holding company for employee compensation and benefits, interest expense, and public company and other expenses. Corporate employee compensation and benefits includes the expense of management, legal and accounting staff. Other expenses primarily consisted of audit and professional fees, insurance, office rent and other related expenses.

Employee compensation and benefits, including incentive compensation expense, were $16.1 million for the six months ended June 30, 2025, compared to $17.2 million for the prior year period, driven by a decrease in accrued incentive compensation expense. Of the incentive compensation expense in the