Tiptree Inc

tiptreeinc.com

What Do They Do?

Allocates capital to, and acquires controlling interests in, small and middle-market businesses across industries, with a focus on insurance and credit-related financial services.

How Do They Make Money?

FY2025 revenue

Who Are Their Customers?

Fortegra distributed specialty insurance through managing general agencies, retail agents and other distributors.

Do Revenues Turn Into Profits?

Yes. Its net income in FY2025 was larger than its revenue and turned 34471 cents into free cash flow.

Operating income, FY2025

−9575% of revenue

▲ +16% (Loss) vs FY2024 (−$40.3M, −2650%)

Net income, FY2025

7157% of revenue

▼ −35% vs FY2024 ($53.4M, 3511%)

Free cash flow, FY2025

34471% of revenue

▼ −30% vs FY2024 ($240.7M, 15837%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −100%; vs $92K in Q2 FY2025
Net income: ▲ +1953%; vs $19M in Q2 FY2025

Jul 29, 2026 Agreed to acquire Universal Shield Insurance Group Tiptree agreed to buy the insurer for $100 million, with closing expected in the first quarter of 2027.
May 29, 2026 Completed the sale of Fortegra Fortegra was sold for $1.65 billion in cash.
May 4, 2026 Completed the sale of Reliance First Capital Carrington Mortgage Services acquired Reliance, and Tiptree received cash at closing.

Shrinking. Revenue fell 100% in 4 years, from $1.2B in FY2021 to $488K in FY2025, about 86% a year.

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