TWFG (TWFG) investor relations material

Executive summary

• Q2 2026 revenues rose 45.1% to $87.5 million, driven by 37% organic growth and acquisitions, especially in the MGA segment.

• Net income increased to $17.3 million from $9.0 million year-over-year, with margin improving to 19.7%.

• Adjusted EBITDA grew 75.8% to $26.6 million, with margin expanding to 30.4%.

• Major acquisitions, including Fortress Insurance Services, expanded MGA capabilities and Midwest presence.

• Share repurchase program retired 2.25 million shares for $42.9 million, with $7.1 million remaining authorized.

Financial highlights

• Total written premium increased 26.6% to $569.9 million, with consolidated retention at 93%.

• Adjusted net income rose 76.1% to $20.3 million, margin up to 23.2%.

• Adjusted diluted EPS was $0.38, up from $0.20.

• Operating cash flow for H1 2026 was $32.5 million; unrestricted cash at quarter-end was $73.7 million.

• $54 million deployed for acquisitions and $42.9 million for share repurchases in H1 2026.

Outlook and guidance

• 2026 guidance raised: total revenues $300–$320 million, organic revenue growth 13–17%, adjusted EBITDA margin 23–27%.

• Upward revision reflects strong core business and acquisition performance.

• Fourth quarter organic growth expected to be flat due to prior period takeout policy timing.

• MGA platform scaling through proprietary programs and renewal tail.

• Liquidity expected to remain strong, supporting operations, acquisitions, and capital returns.