Tiptree Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Tiptree Inc. has submitted its Q1 2024 10-Q filing, detailing financial activities for the quarter ending March 31, 2024.</b>

AI Summary

TIPTREE INC. (TIPT) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Tiptree Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. Tiptree Inc. is classified under Fire, Marine & Casualty Insurance (SIC 6331). The company's business address is 660 Steamboat Road, 2nd Floor, Greenwich, CT 06830.

Why It Matters

For investors and stakeholders tracking TIPTREE INC., this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Tiptree Inc. during the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, strategic direction, and potential risks in the insurance sector.

Risk Assessment

Risk Level: low — TIPTREE INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Monitor future filings for trends in revenue, net income, and debt levels to assess Tiptree Inc.'s financial trajectory.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-01 — Filing Date (Filed as of date)
• 6331 — Standard Industrial Classification (SIC code for Fire, Marine & Casualty Insurance)
• 212-446-1410 — Business Phone Number (Contact phone number)

Key Players & Entities

• TIPTREE INC. (company) — Filer name
• TIPTREE INC. (company) — Company name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-01 (date) — Filed as of date
• 660 STEAMBOAT ROAD (address) — Business street address
• GREENWICH (location) — Business city
• CT (location) — Business state
• 06830 (postal_code) — Business zip code

FAQ

Industry Context

Tiptree Inc. operates within the Fire, Marine & Casualty Insurance industry, a sector characterized by risk management and underwriting.

Regulatory Implications

As a publicly traded company, Tiptree Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to ensure transparency and provide timely financial information to investors.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Analyze any disclosed risk factors or legal proceedings that may impact the company's operations.
3. Compare the financial metrics in this filing to previous periods to identify performance trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-01: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.001 — ich registered common stock, par value $0.001 per share TIPT NASDAQ Capital Market
• $0 — there were 36,785,305 shares, par value $0.001, of the registrant's common stock o
• $200 million — Pincus LLC. "WP Transaction" means the $200 million strategic investment in Fortegra by War

Filing Documents

• tipt-20240331.htm (10-Q) — 3301KB
• ex311-331202410q.htm (EX-31.1) — 15KB
• ex312-331202410q.htm (EX-31.2) — 15KB
• ex313-331202410q.htm (EX-31.3) — 15KB
• ex321-331202410q.htm (EX-32.1) — 4KB
• ex322-331202410q.htm (EX-32.2) — 4KB
• ex323-331202410q.htm (EX-32.3) — 4KB
• 0001393726-24-000056.txt (&nbsp;) — 18757KB
• tipt-20240331.xsd (EX-101.SCH) — 99KB
• tipt-20240331_cal.xml (EX-101.CAL) — 149KB
• tipt-20240331_def.xml (EX-101.DEF) — 663KB
• tipt-20240331_lab.xml (EX-101.LAB) — 1131KB
• tipt-20240331_pre.xml (EX-101.PRE) — 957KB
• tipt-20240331_htm.xml (XML) — 4062KB

Financial Information

PART I. Financial Information F- 1

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) F- 3 Condensed Consolidated Balance Sheets as o f March 31, 2024 and December 31, 2023 F- 3 C ondensed C onsolidated Statements of Operations for the three months ended March 31, 2024 and 2023 F- 4 C ondensed C onsolidated Statements of Comprehensive Income (Loss) for th e three months ended March 31, 2024 and 2023 F- 5 C ondensed C onsolidated Statements of Changes in Stockholders' Equity for the periods e nded March 31, 2024 and 2023 F- 6 C ondensed C onsolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 F- 7 Notes to C ondensed C onsolidated Financial Statements F- 8 (1) Organization F- 8 (2) Summary of Significant Accounting Policies F- 8 (3) Acquisitions F- 9 (4) Operating Segment Data F- 9 (5) Investments F- 11 (6) Notes and Accounts Receivable, net F- 17 (7) Reinsurance Recoverable and Prepaid Reinsurance Premiums F- 17 (8) Goodwill and Intangible Assets, net F- 20 (9) Derivative Financial Instruments and Hedging F- 21 (10) Debt, net F- 23 (11) Fair Value of Financial Instruments F- 24 (12) Liability for Unpaid Claims and Claim Adjustment Expenses F- 31 (13) Revenue from Contracts with Customers F- 32 (14) Other Assets and Other Liabilities and Accrued Expenses F- 33 (15) Other Revenue and Other Expenses F- 34 (16) Stockholders' Equity F- 35 (17) Accumulated Other Comprehensive Income (Loss) F- 37 (18) Stock Based Compensation F- 38 (19) Income Taxes F- 41 (20) Commitments and Contingencies F- 42 (21) Earnings Per Share F- 42 (22) Related Party Transactions F- 43 (23) Subsequent Events F- 43

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 44

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 64

Controls and Procedures

Item 4. Controls and Procedures 65

Other Information

PART II. Other Information 66

Legal Proceedings

Item 1. Legal Proceedings 66

Risk Factors

Item 1A. Risk Factors 66

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 66

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 66

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 66

Other Information

Item 5. Other Information 66

Exhibits, Financial Statement Schedules

Item 6. Exhibits, Financial Statement Schedules 67

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Forward-Looking Statements

Forward-Looking Statements Except for the historical information included and incorporated by reference in this Quarterly Report on Form 10-Q, the information included and incorporated by reference herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements provide our current expectations or forecasts of future events and are not statements of historical fact. These forward-looking statements include information about possible or assumed future events, including, among other things, discussion and analysis of our future financial condition, results of operations, our strategic plans and objectives, and government legislation. When we use words such as "anticipate," "believe," "estimate," "expect," "intend," "seek," "may," "might," "plan," "project," "should," "target," "will," or similar expressions, we intend to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including, but not limited to, those described in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, in this Quarterly Report on Form 10-Q and in our other public filings with the SEC. The factors described herein are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could affect our forward-looking statements. Consequently, our actual performance

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View this 10-Q filing on SEC EDGAR