TWFG, Inc. (TWFG) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-30

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TWFG, Inc. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $30,330,000.00Depreciation and amortization → Operating adjustments reconciliation: $13,234,000.00Commissions payable → Operating adjustments reconciliation: $5,561,000.00Other current liabilities → Operating adjustments reconciliation: $2,289,000.00Stock-based compensation expense → Operating adjustments reconciliation: $2,022,000.00Non-cash lease expense → Operating adjustments reconciliation: $801,000.00Operating adjustments reconciliation → Net cash from operating activities: $2,207,000.00Operating adjustments reconciliation → Commissions receivable, net: $9,504,000.00Operating adjustments reconciliation → Accounts receivable: $6,772,000.00Operating adjustments reconciliation → Other current and non-current assets: $3,859,000.00Operating adjustments reconciliation → Operating lease liabilities: $848,000.00Operating adjustments reconciliation → Net gain on sales of intangible assets and property and equipment: $701,000.00Operating adjustments reconciliation → Other non-cash items: $16,000.00Proceeds from sale of books of business → investing reconciliation: $700,000.00Proceeds from sale of property and equipment → investing reconciliation: $1,000.00investing reconciliation → Purchase of intangible assets: $53,234,000.00investing reconciliation → Purchase of property and equipment: $797,000.00Net cash used in financing activities → financing reconciliation: $54,356,000.00Increase in carrier liabilities → financing reconciliation: $10,971,000.00financing reconciliation → Repurchase of Class A common stock: $42,857,000.00financing reconciliation → Distributions to members: $18,564,000.00financing reconciliation → Decrease in carrier liabilities: $1,945,000.00financing reconciliation → Repayment of borrowings: $979,000.00financing reconciliation → Payment of deferred acquisition payable: $896,000.00financing reconciliation → Tax withholding on vesting of equity awards: $86,000.00Net cash used in investing activities → investing reconciliation: $53,330,000.00Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations → Cash sources and uses: $167,900,000.00Net cash from operating activities → Cash sources and uses: $32,537,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $92,751,000.00Cash sources and uses → Net cash used in investing activities: $53,330,000.00Cash sources and uses → Net cash used in financing activities: $54,356,000.00Net income: $30,330,000.00Net income+$30.33 MDepreciation and amortization: $13,234,000.00Depreciation & amortization+$13.23 MNet gain on sales of intangible assets and property and equipment: -$701,000.00Intangible & PP&E gain, net−$701.00 KStock-based compensation expense: $2,022,000.00Stock-based compensation+$2.02 MNon-cash lease expense: $801,000.00Operating lease amortization+$801.00 KOther non-cash items: -$16,000.00Other non-cash items−$16.00 KCommissions receivable, net: -$9,504,000.00Commissions receivable, net−$9.50 MAccounts receivable: -$6,772,000.00Accounts receivable−$6.77 MOther current and non-current assets: -$3,859,000.00Other operating assets−$3.86 MCommissions payable: $5,561,000.00Commissions payable+$5.56 MOperating lease liabilities: -$848,000.00Operating lease liabilities−$848.00 KOther current liabilities: $2,289,000.00Other current liabilities+$2.29 MNet cash from operating activities: $32,537,000.00Operating cash+$32.54 MOperating adjustments reconciliation: $23,907,000.00Repayment of borrowings: -$979,000.00Debt repaid−$979.00 KDistributions to members: -$18,564,000.00Distributions to affiliates−$18.56 MRepurchase of Class A common stock: -$42,857,000.00Common stock repurchases−$42.86 MTax withholding on vesting of equity awards: -$86,000.00Stock-award tax withholding−$86.00 KIncrease in carrier liabilities: $10,971,000.00Increase in carrier liabilities+$10.97 MDecrease in carrier liabilities: -$1,945,000.00Decrease in carrier liabilities−$1.95 MPayment of deferred acquisition payable: -$896,000.00Deferred acquisition payments−$896.00 KNet cash used in financing activities: -$54,356,000.00. Cash required to fund net payments.Financing cash−$54.36 Mfinancing reconciliation: $65,327,000.00Proceeds from sale of books of business: $700,000.00Intangible asset sales+$700.00 KPurchase of intangible assets: -$53,234,000.00Intangible asset purchases−$53.23 MPurchase of property and equipment: -$797,000.00PP&E purchases−$797.00 KProceeds from sale of property and equipment: $1,000.00PP&E sales+$1.00 KDisposal of fixed assets: $0.00Net cash used in investing activities: -$53,330,000.00. Cash required to fund net payments.Investing cash−$53.33 Minvesting reconciliation: $54,031,000.00Cash sources and uses: $200,437,000.00Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $167,900,000.00Beginning cash$167.90 MEnding cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $92,751,000.00Ending cash$92.75 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$31.74 MOperating cash − cash spent on PP&ECash flow / Net income1.07×Operating cash flow ÷ net incomeNet cash change−$75.15 MEnding cash − beginning cash
Chart details

TWFG, Inc. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
167,900,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
Operating activities
32,537,000 US dollars. Net cash provided.
Net income
30,330,000 US dollars
Depreciation and amortization
13,234,000 US dollars
Net gain on sales of intangible assets and property and equipment
negative 701,000 US dollars
Stock-based compensation expense
2,022,000 US dollars
Non-cash lease expense
801,000 US dollars
Other non-cash items
negative 16,000 US dollars
Commissions receivable, net
negative 9,504,000 US dollars
Accounts receivable
negative 6,772,000 US dollars
Other current and non-current assets
negative 3,859,000 US dollars
Commissions payable
5,561,000 US dollars
Operating lease liabilities
negative 848,000 US dollars
Other current liabilities
2,289,000 US dollars
Investing activities
negative 53,330,000 US dollars. Net cash used.
Proceeds from sale of books of business
700,000 US dollars
Purchase of intangible assets
negative 53,234,000 US dollars
Purchase of property and equipment
negative 797,000 US dollars
Proceeds from sale of property and equipment
1,000 US dollars
Disposal of fixed assets
0 US dollars
Financing activities
negative 54,356,000 US dollars. Net cash used.
Repayment of borrowings
negative 979,000 US dollars
Distributions to members
negative 18,564,000 US dollars
Repurchase of Class A common stock
negative 42,857,000 US dollars
Tax withholding on vesting of equity awards
negative 86,000 US dollars
Increase in carrier liabilities
10,971,000 US dollars
Decrease in carrier liabilities
negative 1,945,000 US dollars
Payment of deferred acquisition payable
negative 896,000 US dollars
Operating adjustment reconciliation
23,907,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
65,327,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
54,031,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Jun 30, 2026
92,751,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
Cash sources and uses
200,437,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 75,149,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.07×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
32,537,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
797,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
31,740,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $2.21M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 32,537,000 US dollars minus 797,000 US dollars equals 31,740,000 US dollars.
TWFG, Inc. (TWFG) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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