TWFG, Inc. (TWFG) Income Statement
TWFG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTWFG revenue and net income
Where TWFG's revenue goes
2025Each bar shows an amount and its share of revenue. TWFG kept 3.4% of revenue as net income.
TWFG profit margins
TWFG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +20.8% | +16.5% | — | — |
| Gross profit | +34.9% | +27.0% | — | — |
| Operating income | −14.5% | +0.2% | — | — |
| Net income | +190.1% | −27.2% | — | — |
| EPS (diluted) | −94.2% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TWFG quarterly EPS vs estimates
TWFG beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 11, 2026 (estimate $0.23).
TWFG income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $234.0M | $193.7M | $167.0M | $147.8M |
| Cost of revenue | $171.2M | $147.2M | $130.8M | $117.2M |
| Gross profit | $62.8M | $46.6M | $36.2M | $30.6M |
| Sales, general & admin | $22.0M | $16.7M | $11.0M | $9.7M |
| Total operating expenses | $38.9M | $18.6M | $10.8M | $6.9M |
| Operating income | $23.9M | $27.9M | $25.4M | $23.7M |
| Interest income | $6.6M | $4.4M | $891,000 | $46,000 |
| Interest expense | $287,000 | $2.2M | $1.0M | $398,000 |
| Income before taxes | $44.4M | $30.1M | $25.3M | $23.3M |
| Income taxes | $3.3M | $1.5M | $878,000 | $2.7M |
| Net income | $8.0M | $2.7M | $4.1M | $20.6M |
| EBITDA | $63.1M | $44.3M | $31.1M | $27.0M |
| EPS (diluted) | $0.89 | $15.34 | $0.31 | — |
| Gross margin | 26.8% | 24.0% | 21.7% | 20.7% |
| Operating margin | 10.2% | 14.4% | 15.2% | 16.0% |
| Net margin | 3.4% | 1.4% | 2.5% | 13.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $87.5M | $72.8M | $62.5M | $61.7M | $57.9M | $51.8M | $46.5M | $51.1M | $51.4M | $44.8M | $38.2M | $46.1M |
| Cost of revenue | $69.9M | $49.4M | $42.9M | $44.6M | $43.6M | $40.0M | $36.6M | $39.1M | $38.8M | $32.7M | $34.5M | $35.9M |
| Gross profit | $17.6M | $23.5M | $19.6M | $17.2M | $14.2M | $11.8M | $9.9M | $12.0M | $12.6M | $12.1M | $3.7M | $10.2M |
| Sales, general & admin | $8.6M | $7.4M | $6.7M | $5.2M | $5.4M | $4.7M | $5.0M | $4.8M | $3.7M | $3.1M | $2.9M | $2.8M |
| Total operating expenses | $13.3M | $11.1M | $12.1M | $8.1M | $6.9M | $6.1M | $5.0M | $4.3M | $5.1M | $4.8M | $2.7M | $2.3M |
| Operating income | $17.6M | $12.4M | $7.5M | $9.0M | $7.4M | $5.7M | $4.9M | $7.7M | $7.5M | $7.3M | $1.0M | $7.9M |
| Interest income | $759,000 | $1.2M | $1.4M | $1.6M | $1.8M | $1.9M | — | $1.8M | $255,000 | $170,000 | — | — |
| Interest expense | $57,000 | $62,000 | $66,000 | $70,000 | $68,000 | $83,000 | $98,000 | $411,000 | $872,000 | $842,000 | $450,000 | $295,000 |
| Income before taxes | $18.3M | $14.2M | $16.7M | $10.6M | $9.6M | $7.5M | $9.2M | $7.3M | $6.9M | $6.6M | $548,000 | $7.6M |
| Income taxes | $1.0M | $1.1M | $1.0M | $977,000 | $620,000 | $656,000 | $1.1M | $437,000 | −$199,000 | $199,000 | $878,000 | — |
| Net income | $2.4M | $1.8M | $2.9M | $1.7M | $2.0M | $1.3M | $1.6M | $1.2M | $6.9M | $4,000 | −$16.7M | $7.6M |
| EBITDA | $25.4M | $20.4M | $22.6M | $16.0M | $13.6M | $11.0M | $12.4M | $10.7M | $10.8M | $10.5M | $2.5M | $9.0M |
| EPS (diluted) | $0.31 | $0.29 | $0.30 | $0.23 | $0.20 | $0.16 | $0.13 | $0.15 | $14.89 | $0.17 | — | — |
| Gross margin | 20.1% | 32.2% | 31.3% | 27.8% | 24.6% | 22.8% | 21.3% | 23.5% | 24.5% | 27.0% | 9.6% | 22.2% |
| Operating margin | 20.1% | 17.0% | 12.1% | 14.6% | 12.7% | 11.1% | 10.6% | 15.1% | 14.6% | 16.3% | 2.6% | 17.1% |
| Net margin | 2.7% | 2.4% | 4.7% | 2.8% | 3.4% | 2.6% | 3.4% | 2.3% | 13.5% | 0.0% | −43.8% | 16.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TWFG's financial statements (latest annual report filed March 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TWFG financial results
In fiscal year 2025 (ended December 31, 2025), TWFG reported revenue of $234.0 million, up 20.8% from the year before. It had net income of $8.0 million (up 190.1%), a net profit margin of 3.4%. Diluted earnings per share came to $0.89.
See the TWFG stock overview for the latest quote and news, or the TWFG chart for price history and technical indicators.
TWFG income statement FAQ
What is TWFG's annual revenue?
TWFG reported total revenue of $234.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 20.8% from $193.7 million the previous year.
Is TWFG profitable?
Yes. TWFG reported net income of $8.0 million in fiscal 2025, a net profit margin of 3.4%; its operating margin was 10.2%.
What is TWFG's gross margin?
TWFG's gross margin was 26.8% in fiscal 2025: for every $100 of revenue, TWFG kept $27 after the direct cost of its products and services.
What are TWFG's earnings per share?
TWFG earned $0.89 per diluted share in fiscal 2025, compared with $15.34 a year earlier.
When will TWFG report its next earnings?
TWFG is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 after the market closes.
When does TWFG's fiscal year end?
TWFG's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 10, 2026.