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Highlights

  • Adjusted EBITDA increased 40.7% to USD 15.1M with a 25.1% margin.
  • Organic revenue growth reached 10.6% in Q2 2025.
  • Completed 4 acquisitions and added 9 new retail branches.

TWFG (NASDAQ: TWFG), an insurance distribution company, has reported its Q2 2025 financial results, posting total revenues of USD 60.3 million, up 13.8% year-over-year. Commission income accounted for USD 54.6 million of this total, representing an increase of 12.1% compared to Q2 2024. Net income for the quarter stood at USD 9.0 million, with a net margin of 14.9%.

Total Written Premium grew 14.4% to USD 450.3 million, supported by an Organic Revenue Growth Rate of 10.6%. Adjusted EBITDA rose 40.7% year-over-year to USD 15.1 million, with margins expanding to 25.1% from the prior-year period.

During the quarter, TWFG pursued strategic expansion, completing four acquisitions and adding nine retail branches to its network. The company also entered the Kentucky market, broadening its geographic footprint in the U.S. insurance sector.

On the operational side, expenses increased, with salaries and employee benefits rising 39.3% to USD 9.5 million and other administrative expenses climbing 44.2% to USD 5.4 million. Adjusted Free Cash Flow decreased to USD 2.9 million from USD 3.7 million in the same quarter last year, reflecting higher costs and investment activity.

The company closed the quarter with a solid liquidity position, holding USD 159.8 million in cash and maintaining an unused USD 50 million credit facility.

Looking ahead, TWFG updated its 2025 full-year guidance, projecting total revenues between USD 240 million and USD 255 million. The company anticipates an Organic Revenue Growth Rate of 11% to 14% and an Adjusted EBITDA Margin in the range of 21% to 23%. Management stated that the focus will remain on organic expansion, selective acquisitions, and maintaining profitability through cost management and integration of newly acquired operations.