Filing Flows › Baldwin Insurance Group (BWIN) › Q4 2024
Baldwin Insurance Group (BWIN) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 25, 2025
Baldwin Insurance Group (BWIN) reported revenue of $330M for the fourth quarter 2024 (Q4 2024), +16% from a year earlier and -3% from the quarter before. Operating margin was -1.7%, net loss $34.8M (10.6% of revenue).
Baldwin Insurance Group, Q4 2024: revenue $330M (+16% year over year), operating margin -1.7%, net loss $34.8M, operating cash flow $16.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $330M | -3% | +16% |
| Operating profit | −$5.5M | — | — |
| Net earnings | −$34.8M | — | — |
| Operating cash flow | $16.4M | +680% | -25% |
| Free cash flow | $4.3M | — | -71% |
What changed
Revenue was $329.9M in Q4 2024, up 16% year over year and down 3% from the previous quarter. Commission Revenue was the largest line at 78% of revenue.
Operating costs exceeded revenue by $5.5M, an operating margin of -1.7%. Total costs grew 7% against revenue growth of 16%. The quarter ended with a net loss of $34.8M, wider than the previous quarter's $14.5M loss. Minority interests bore $14.7M of it: to shareholders the quarter was a loss of $20.2M. Net interest and other expense of $29.8M was the main reason.
Operating cash flow was $16.4M (down 25% year over year). Non-cash charges added back $28.0M of depreciation and amortization and $18.7M of share-based compensation. Working capital and other items added $4.6M. Capital expenditures of $12.2M left free cash flow of $4.3M.
Questions
What was Baldwin Insurance Group's revenue in the fourth quarter 2024?
Baldwin Insurance Group (BWIN) reported revenue of $330M for the fourth quarter 2024 (Q4 2024), +16% from a year earlier and -3% from the quarter before.
Was Baldwin Insurance Group profitable in the fourth quarter 2024?
Operating loss was $5.5M (-1.7% of revenue) and net loss $34.8M.