Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 32

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 32
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 operational expenses.

Income (loss) before taxes - Three and Six Months ended June 30, 2025 compared to 2024 

Income before taxes for the three months ended June 30, 2025 was $0.2 million, compared to $0.5 million in 2024. The income before taxes for the six months ended June 30, 2025 was $28.0 thousand, compared to income before taxes of $1.3 million in the prior year period. The decrease for the six months ended June 30, 2025 was driven by 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 Ended June 30, Six Months EndedJune 30, 2025202420252024Revenues:Net realized and unrealized gains (losses)$(1,456)$(103)$(716)$2,038 Other income957 951 1,883 2,384 Total revenue$(499)$848 $1,167 $4,422 Expenses:Employee compensation and benefits$119 $136 $221 $243 Other expenses2,687 500 4,067 974 Total expenses$2,806 $636 $4,288 $1,217 Income (loss) before taxes$(3,305)$212 $(3,121)$3,205 Non-GAAP Financial Measures (1):Adjusted net income (before NCI)$(409)$175 $(856)$828 Adjusted return on average equity(1.9)%1.1 %(2.9)%1.8 %

(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 

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 Invesque until the sale in April 2024); and charter revenues from vessels within the Company’s maritime transportation operations. Subsequent to the sale of our dry bulk and tanker vessels, operations include two smaller vessels and other ancillary assets. 

Revenues for the three months ended June