Twfg announces second quarter 2024 results

– total written premium increased 20.3% over the prior year period to $393.6 million – – total revenue increased 17.4% over the prior year period to $53.3 million – – organic revenue growth rate* of 13.8% – – net income of $6.9 million – – adjusted net income* increased 18.1% over the prior year period to $9.8 million – – adjusted ebitda* increased 25.8% over the prior year period to $10.8 million – – completed initial public offering in july 2024 – the woodlands, texas , aug. 27, 2024 /prnewswire/ -- twfg, inc. ("twfg" or the "company") (nasdaq: twfg), a high-growth insurance distribution company, today announced results for the second quarter ended june 30, 2024. second quarter 2024 highlights total written premium for the quarter increased 20.3% to $393.6 million, compared to $327.2 million in the same period in the prior year total revenues for the quarter increased 17.4% to $53.3 million, compared to $45.4 million in the same period in the prior year organic revenue growth rate* for the quarter was 13.8% net income for the quarter was $6.9 million, compared to $7.1 million in the same period in the prior year adjusted net income* for the quarter increased 18.1% over the prior year period to $9.8 million, and adjusted net income margin* for the quarter was 18.4% adjusted ebitda* for the quarter increased 25.8% over the prior year period to $10.8 million, and adjusted ebitda margin* for the quarter was 20.2% cash flow from operating activities for the quarter was $7.4 million, compared to $6.9 million in the same period in the prior year adjusted free cash flow* for the quarter was $3.7 million, compared to $1.9 million in the same period in the prior year *organic revenue growth rate, adjusted net income, adjusted net income margin, adjusted ebitda, adjusted ebitda margin, and adjusted free cash flow are non-gaap measures.
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