Filing Flows › Twfg (TWFG) › Q3 2026 › vs Q2 2026
Twfg (TWFG) Q3 2026 vs Q2 2026 (quarter over quarter)
Twfg's revenue fell $7.6M (-9%) from $87.5M in Q2 2026 to $79.9M in Q3 2026. The biggest changes: Commission income −$7.3M (-9%); Contingent income +$404K (+19%); License fees −$296K (-36%). Operating margin 11.3% against 20.1% (-8.8 pts).
Twfg, Q3 2026: revenue $79.9M (+25% year over year), operating margin 11.3%, net earnings $1.2M, operating cash flow $10.6M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 11.3% | 20.1% | -8.8 pts |
| Net margin | 1.5% | 2.7% | -1.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Commission income | $73.4M | $80.6M | −$7.3M | -9% |
| Contingent income | $2.6M | $2.2M | $404K | +19% |
| Policy fees | $1.6M | $1.7M | −$146K | -9% |
| Branch fees | $1.4M | $1.5M | −$113K | -8% |
| Other | $535K | $511K | $24K | +5% |
| License fees | $526K | $822K | −$296K | -36% |
| Revenue | $79.9M | $87.5M | −$7.6M | -9% |
| Other income, net | $572K | $695K | −$123K | -18% |
| Operating profit | $9.0M | $17.6M | −$8.6M | -49% |
| Costs & expenses | $70.9M | $69.9M | $963K | +1% |
| Pre-tax earnings | $9.6M | $18.3M | −$8.7M | -47% |
| Net earnings | $1.2M | $2.4M | −$1.2M | -51% |
| Minority interests | $7.8M | $14.9M | −$7.1M | -47% |
| Income tax | $601K | $1.0M | −$430K | -42% |
| Depreciation & amortization | $7.5M | $7.1M | $429K | +6% |
| Share-based compensation | $682K | $1.2M | −$484K | -42% |
| Working capital & other | $1.2M | −$784K | $2.0M | — |
| Operating cash flow | $10.6M | $9.8M | $759K | +8% |
Questions
How much did Twfg's revenue grow quarter over quarter in Q3 2026?
Twfg's revenue fell $7.6M (-9%) from $87.5M in Q2 2026 to $79.9M in Q3 2026.
What drove Twfg's revenue change in Q3 2026?
Commission income −$7.3M (-9%); Contingent income +$404K (+19%); License fees −$296K (-36%).