Tiptree Inc. Files Q2 2024 10-Q

TL;DR

**TIPTREE INC. Q2 2024 10-Q FILED: FINANCIALS OUT FOR REVIEW**

AI Summary

Tiptree Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and segment information are presented, reflecting the company's ongoing business activities in the insurance and financial services sector.

Why It Matters

This filing provides investors with a crucial update on Tiptree Inc.'s financial health and operational performance for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's current financial health and future prospects.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240731 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• TIPTREE INC. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240731 (date) — Filing date
• FIRE, MARINE & CASUALTY INSURANCE [6331] (industry) — Standard Industrial Classification
• GREENWICH (location) — Business and mailing address city

FAQ

Key Financial Figures

• $0.001 — ich registered common stock, par value $0.001 per share TIPT NASDAQ Capital Market
• $0 — there were 36,789,571 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-20240630.htm (10-Q) — 4107KB
• ex311-630202410q.htm (EX-31.1) — 15KB
• ex312-630202410q.htm (EX-31.2) — 15KB
• ex313-630202410q.htm (EX-31.3) — 15KB
• ex321-630202410q.htm (EX-32.1) — 4KB
• ex322-630202410q.htm (EX-32.2) — 4KB
• ex323-630202410q.htm (EX-32.3) — 4KB
• 0001393726-24-000082.txt ( ) — 20696KB
• tipt-20240630.xsd (EX-101.SCH) — 100KB
• tipt-20240630_cal.xml (EX-101.CAL) — 151KB
• tipt-20240630_def.xml (EX-101.DEF) — 676KB
• tipt-20240630_lab.xml (EX-101.LAB) — 1072KB
• tipt-20240630_pre.xml (EX-101.PRE) — 926KB
• tipt-20240630_htm.xml (XML) — 4607KB

Financial Information

PART I. Financial Information F- 1

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) F- 3 Condensed Consolidate d B alance Sheets as o f June 30, 2024 and December 31, 2023 F- 3 C ondensed C onsolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 F- 3 C ondensed C onsolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2024 and 2023 F- 5 C ondensed C onsolidated Statements of Changes in Stockholders' Equity for the periods ended June 30, 2024 and 2023 F- 6 C ondensed C onsolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 F- 8 Notes to C ondensed C onsolidated Financial Statements F- 9 (1) Organization F- 9 (2) Summary of Significant Accounting Policies F- 9 (3) Acquisitions F- 10 (4) Operating Segment Data F- 10 (5) Investments F- 12 (6) Notes and Accounts Receivable, net F- 18 (7) Reinsurance Recoverable and Prepaid Reinsurance Premiums F- 18 (8) Goodwill and Intangible Assets, net F- 23 (9) Derivative Financial Instruments and Hedging F- 24 (10) Debt, net F- 25 (11) Fair Value of Financial Instruments F- 27 (12) Liability for Unpaid Claims and Claim Adjustment Expenses F- 33 (13) Revenue from Contracts with Customers F- 34 (14) Other Assets and Other Liabilities and Accrued Expenses F- 35 (15) Other Revenue and Other Expenses F- 36 (16) Stockholders' Equity F- 37 (17) Accumulated Other Comprehensive Income (Loss) F- 39 (18) Stock Based Compensation F- 40 (19) Income Taxes F- 43 (20) Commitments and Contingencies F- 44 (21) Earnings Per Share F- 45 (22) Related Party Transactions F- 45 (23) Subsequent Events F- 46

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 47

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 73

Controls and Procedures

Item 4. Controls and Procedures 74

Other Information

PART II. Other Information 75

Legal Proceedings

Item 1. Legal Proceedings 75

Risk Factors

Item 1A. Risk Factors 75

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 75

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 75

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 75

Other Information

Item 5. Other Information 75

Exhibits, Financial Statement Schedules

Item 6. Exhibits, Financial Statement Schedules 76

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

View Full Filing

View this 10-Q filing on SEC EDGAR