Filing Flows › Tiptree (TIPT) › Q2 2025
Tiptree (TIPT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Tiptree (TIPT) reported revenue of $529M for the second quarter 2025 (Q2 2025), -3% from a year earlier and +6% from the quarter before. Operating margin was -2.2%, net earnings $31.1M (5.9% of revenue).
Tiptree, Q2 2025: revenue $529M (-3% year over year), operating margin -2.2%, net earnings $31.1M, operating cash flow $21.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $529M | +6% | -3% |
| Operating profit | −$11.9M | — | — |
| Net earnings | $31.1M | +140% | — |
| Operating cash flow | $21.3M | — | -55% |
| Free cash flow | $20.1M | — | -56% |
What changed
Revenue was $528.8M in Q2 2025, down 3% year over year and up 6% from the previous quarter.
Operating costs exceeded revenue by $11.9M, an operating margin of -2.2%. Total costs grew 7% against a revenue fall of 3%. The fastest-growing cost line was SG&A (+22%). Net earnings were $19.0M, up 48% year over year. The effective tax rate was 41.0%. Non-operating items added $64.6M, 123% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $21.3M (down 55% year over year), 68% of net income including minority interests. Non-cash charges added back $4.9M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $17.1M. Capital expenditures of $1.2M left free cash flow of $20.1M.
Questions
What was Tiptree's revenue in the second quarter 2025?
Tiptree (TIPT) reported revenue of $529M for the second quarter 2025 (Q2 2025), -3% from a year earlier and +6% from the quarter before.
Was Tiptree profitable in the second quarter 2025?
Operating loss was $11.9M (-2.2% of revenue) and net earnings $31.1M.
Source: Tiptree 10-Q on SEC EDGAR.