Filing Flows › Tiptree (TIPT) › Q3 2025
Tiptree (TIPT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Tiptree (TIPT) reported revenue of $540M for the third quarter 2025 (Q3 2025), +9% from a year earlier and +2% from the quarter before. Operating margin was -2.4%, net earnings $15.6M (2.9% of revenue).
Tiptree, Q3 2025: revenue $540M (+9% year over year), operating margin -2.4%, net earnings $15.6M, operating cash flow $135M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $540M | +2% | +9% |
| Operating profit | −$12.9M | — | — |
| Net earnings | $15.6M | -50% | — |
| Operating cash flow | $135M | +537% | +121% |
| Free cash flow | $133M | +565% | +120% |
What changed
Revenue was $540.3M in Q3 2025, up 9% year over year and up 2% from the previous quarter.
Operating costs exceeded revenue by $12.9M, an operating margin of -2.4%. Total costs grew 21% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+21%). Net earnings were $6.4M, down 46% year over year. The effective tax rate was 59.2%. Non-operating items added $51.2M, 134% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $135.4M (up 121% year over year), 868% of net income including minority interests. Non-cash charges added back $5.3M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items added $109.0M. Capital expenditures of $2.1M left free cash flow of $133.4M.
Questions
What was Tiptree's revenue in the third quarter 2025?
Tiptree (TIPT) reported revenue of $540M for the third quarter 2025 (Q3 2025), +9% from a year earlier and +2% from the quarter before.
Was Tiptree profitable in the third quarter 2025?
Operating loss was $12.9M (-2.4% of revenue) and net earnings $15.6M.
Source: Tiptree 10-Q on SEC EDGAR.