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TIPT

Tiptree Inc.

TIPT

Tiptree Inc. • NASDAQ
$18.78 ▼ -0.16% (-0.03)
Market Cap $702.18 M
52w High $27.41
52w Low $17.07
Dividend Yield 0.24%
P/E 16.33
Volume 88.21K
Outstanding Shares 37.39M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $523.399M ▼ $122.874M ▼ $6.421M ▼ 1.227% ▼ $0.17 ▼ $54.225M ▼
Q2-2025 $526.974M ▲ $247.79M ▼ $18.96M ▲ 3.598% ▲ $0.5 ▲ $68.498M ▲
Q1-2025 $496.699M ▼ $262.036M ▼ $5.635M ▼ 1.134% ▼ $0.15 ▼ $40.591M ▼
Q4-2024 $503.072M ▲ $264.753M ▲ $19.551M ▲ 3.886% ▲ $0.52 ▲ $55.921M ▲
Q3-2024 $494.046M $253.823M $11.915M 2.412% $0.3 $49.79M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.671B ▲ $6.416B ▲ $5.675B ▲ $505.174M ▲
Q2-2025 $734.409M ▲ $6.148B ▲ $5.425B ▲ $499.838M ▲
Q1-2025 $613.917M ▼ $5.819B ▲ $5.136B ▲ $473.719M ▲
Q4-2024 $1.428B ▲ $5.695B ▲ $5.038B ▲ $457.698M ▼
Q3-2024 $678.267M $5.506B $4.85B $461.946M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $15.61M ▼ $135.434M ▲ $-132.959M ▼ $3.563M ▲ $4.512M ▼ $133.382M ▲
Q2-2025 $31.104M ▲ $21.253M ▲ $28.14M ▲ $-6.812M ▼ $47.09M ▲ $20.068M ▲
Q1-2025 $12.968M ▼ $-33.321M ▼ $-18.072M ▲ $61.3M ▲ $11.694M ▲ $-34.442M ▼
Q4-2024 $29.34M ▲ $69.957M ▲ $-176.787M ▼ $24.267M ▲ $-88.106M ▲ $68.155M ▲
Q3-2024 $20.473M $61.217M $-164.762M $-3.062M $-101.007M $60.681M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Motor Club Revenue
Motor Club Revenue
 $0 ▲$10.00M ▲$20.00M ▲$30.00M ▲
Other Contract Revenue
Other Contract Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Service and Administrative Fees
Service and Administrative Fees
 $0 ▲$80.00M ▲$160.00M ▲$610.00M ▲
Service Contract Revenue
Service Contract Revenue
 $0 ▲$70.00M ▲$140.00M ▲$590.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last five years, showing that the business is expanding rather than shrinking. Profitability has improved from earlier losses to consistent, though still modest, profits recently. Earnings have been quite volatile from year to year, with some standout strong years and some much weaker ones, which is common in insurance and investment-heavy models where claims experience and market conditions can swing results. Overall, the trend is toward better margins and stronger bottom‑line performance, but with clear noise and one‑off effects along the way rather than a smooth, predictable climb.

Balance Sheet

Balance Sheet The balance sheet has been getting larger over time, with total assets increasing and shareholder equity gradually building. Debt levels have risen and then leveled off, suggesting the company is using leverage but not in an obviously aggressive way. Cash on hand has moved around, at times building up and at other times being drawn down, which likely reflects acquisitions, investments, or portfolio repositioning. In broad terms, the company looks more substantial and somewhat stronger than it did a few years ago, but not dramatically different in its capital structure.

Cash Flow

Cash Flow The company has generated positive operating cash flow every year in the period shown, which is a key strength. Free cash flow closely tracks operating cash flow because capital spending has been quite light, pointing to a relatively asset‑light business model. Cash generation has been lumpy, with one especially strong year in the middle of the period, a weaker year after that, and then a recovery more recently. This pattern suggests that while underlying cash production is sound, it can be influenced meaningfully by insurance cycles, investment returns, and working‑capital swings.

Competitive Edge

Competitive Edge Historically, Tiptree’s edge has come from its specialty insurance operations, especially through Fortegra, combined with a diversified holding‑company structure across insurance and asset‑management activities. Its focus on niche and underserved markets, supported by experienced management, has been a key part of its moat, allowing it to avoid direct head‑to‑head competition with the largest insurers on standard products. However, the planned sale of Fortegra is a major strategic pivot: it will reduce Tiptree’s direct exposure to its core historical strength in specialty insurance and shift the center of gravity toward investment and asset‑management businesses. That creates both opportunity to redeploy capital and a real test of whether the company can rebuild an equally strong competitive position in its next chapter.

Innovation and R&D

Innovation and R&D Most of the company’s “innovation” has been business‑model and technology‑enabled process innovation rather than traditional lab‑style R&D. Through Fortegra, Tiptree leaned on proprietary systems, data analytics, and automation to price complex risks more efficiently and serve niche markets at lower cost. With Fortegra being sold, those specific insurance‑tech advantages will matter less at the parent level. Going forward, innovation is more likely to show up in how Tiptree structures investments, develops differentiated credit and alternative strategies through Tiptree Capital and Tiptree Advisors, and uses data and analytics to improve underwriting of investment risk rather than insurance risk. The big uncertainty is how quickly and effectively the company can translate its historical skill set into new, scalable platforms once the transaction closes.

Summary

Tiptree is in the middle of a major transition. Financially, it has moved from a smaller, occasionally loss‑making insurer to a larger, consistently profitable but still somewhat volatile enterprise with solid cash generation and a growing asset base. Strategically, the announced sale of Fortegra means the company is effectively cashing out of its core specialty insurance engine and will need to prove it can create similar value as a capital allocator and asset‑management platform. The key things to watch are how management deploys the expected influx of capital, how clearly it articulates the new business mix and risk profile, and whether the new investments build a durable edge comparable to what Fortegra once provided. The upside is flexibility and financial firepower; the risk is execution in redefining what “Tiptree” is after its flagship insurance asset is gone.

NEWS

November 24, 2025 · 7:30 AM UTC

Leading Proxy Advisory Firms Glass Lewis and Egan-Jones Recommend Tiptree Shareholders Vote AGAINST the Proposed Sale of Fortegra to DB Insurance

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November 24, 2025 · 7:00 AM UTC

Institutional Shareholder Services (ISS) Recommend Tiptree Stockholders Vote “FOR” the Merger of Fortegra and DB Insurance

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November 13, 2025 · 5:30 PM UTC

Veradace Partners Issues Presentation Detailing Why Tiptree Shareholders Should Vote “AGAINST” the Deeply Flawed Proposed Sale of Fortegra to DB Insurance

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November 10, 2025 · 7:30 AM UTC

Veradace Partners Issues Letter to Tiptree Shareholders Regarding the Proposed Sale of Fortegra to DB Insurance

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November 4, 2025 · 4:15 PM UTC

Tiptree Investor Alert By The Former Attorney General Of Louisiana: Kahn Swick & Foti, LLC Investigates Tiptree Inc. -  TIPT

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