Filing Flows › Twfg (TWFG) › Q3 2026
Twfg (TWFG) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Twfg (TWFG) reported revenue of $79.9M for the third quarter 2026 (Q3 2026), +25% from a year earlier and -9% from the quarter before. Operating margin was 11.3%, net earnings $1.2M (1.5% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $79.9M | -9% | +25% |
| Operating profit | $9.0M | -49% | -0.1% |
| Net earnings | $1.2M | -51% | -32% |
| Operating cash flow | $10.6M | +8% | -29% |
| Free cash flow | $7.5M | — | -39% |
What changed
Revenue was $79.9M in Q3 2026, up 25% year over year and down 9% from the previous quarter. Commission income was the largest line at 92% of revenue. Commission income added $15.1M year over year (up 26%), 96% of the total change. License fees declined 41%.
Operating profit was $9.0M, a 11.3% margin (down 2.8 points year over year). Operating profit fell $5K even though revenue rose $15.8M versus Q3 2025, so costs grew faster than sales. Total costs grew 29% against revenue growth of 25%. Net earnings were $1.2M, down 32% year over year. The effective tax rate was 6.3%.
Operating cash flow was $10.6M (down 29% year over year), 118% of net income including minority interests. Non-cash charges added back $7.5M of depreciation and amortization and $682K of share-based compensation. Working capital and other items used $6.6M. After tax distribution to members, net ($2.9M) and purchase of property and equipment ($164K), adjusted free cash flow as the company reports it was $7.5M.
Questions
What was Twfg's revenue in the third quarter 2026?
Twfg (TWFG) reported revenue of $79.9M for the third quarter 2026 (Q3 2026), +25% from a year earlier and -9% from the quarter before.
Was Twfg profitable in the third quarter 2026?
Operating profit was $9.0M (11.3% of revenue) and net earnings $1.2M.
Source: Twfg 10-Q on SEC EDGAR.