Filing Flows › Twfg (TWFG) › How it makes money
How Twfg (TWFG) makes money
Twfg (TWFG) made $79.9M of revenue in the third quarter 2026 (Q3 2026), +25% from a year earlier. Commission income brought in $73.4M (92%); Contingent income brought in $2.6M (3%); Policy fees brought in $1.6M (2%). Of every dollar of revenue, 11¢ was left as operating profit, 1¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Commission income | $73.4M | 91.8% | -9% | +26% |
| Contingent income | $2.6M | 3.2% | +19% | +23% |
| Policy fees | $1.6M | 1.9% | -9% | +32% |
| Branch fees | $1.4M | 1.7% | -8% | +6% |
| Other | $535K | 0.7% | +5% | +31% |
| License fees | $526K | 0.7% | -36% | -41% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $79.9M | 100.0% |
| Operating profit | $9.0M | 11.3% |
| Income tax | $601K | 0.8% |
| Net earnings | $1.2M | 1.5% |
| Operating cash flow | $10.6M | 13.2% |
| Free cash flow | $7.5M | 9.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $79.9M | +25% |
| Q2 2026 | $87.5M | +45% |
| Q1 2026 | $72.8M | +35% |
| Q4 2025 | $70.3M | +36% |
| Q3 2025 | $64.1M | +21% |
| Q2 2025 | $60.3M | +14% |
| Q1 2025 | $53.8M | +17% |
From Twfg's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Twfg make money?
Twfg (TWFG) made $79.9M of revenue in the third quarter 2026 (Q3 2026), +25% from a year earlier. Commission income brought in $73.4M (92%); Contingent income brought in $2.6M (3%); Policy fees brought in $1.6M (2%). Of every dollar of revenue, 11¢ was left as operating profit, 1¢ was left as net earnings.
What is Twfg's biggest business?
Commission income: $73.4M in the third quarter 2026, 92% of revenue, +26% from a year earlier.
What is Twfg's profit margin?
Net earnings were $1.2M, 1.5% of revenue, in the third quarter 2026; the operating margin was 11.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.