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Condensed Consolidated Statements of Financial Position - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 191,196,000 $ 39,297,000
Restricted cash 9,709,000 7,171,000
Commissions receivable, net 22,901,000 19,082,000
Accounts receivable 8,782,000 5,982,000
Deferred offering costs 0 2,025,000
Other current assets, net 1,539,000 1,551,000
Total current assets 234,127,000 75,108,000
Non-current assets    
Intangible assets - net 75,024,000 36,436,000
Property and equipment - net 682,000 597,000
Lease right-of-use assets - net 2,625,000 2,459,000
Other non-current assets 635,000 837,000
Total assets 313,093,000 115,437,000
Current liabilities    
Commissions payable 14,438,000 12,487,000
Carrier liabilities 13,278,000 8,731,000
Operating lease liabilities, current 1,070,000 882,000
Short-term bank debt 1,897,000 2,437,000
Deferred acquisition payable, current 506,000 5,369,000
Other current liabilities 6,908,000 5,006,000
Total current liabilities 38,097,000 34,912,000
Non-current liabilities    
Operating lease liabilities, net of current portion 1,448,000 1,518,000
Long-term bank debt 4,490,000 46,919,000
Deferred acquisition payable, non-current 924,000 1,037,000
Total liabilities 44,959,000 84,386,000
Commitment and contingencies (see Note 15)
Stockholders'/Members' Equity    
Members’ Equity (631,750 common units issued and outstanding at December 31, 2023) 0 632,000
Additional paid-in capital 57,159,000 25,114,000
Retained earnings 13,697,000 4,805,000
Accumulated other comprehensive income 82,000 500,000
Total stockholders' equity attributable to TWFG, Inc. /members’ equity 71,086,000 31,051,000
Noncontrolling interests 197,048,000 0
Total stockholders'/members' equity 268,134,000 31,051,000
Total liabilities and equity 313,093,000 115,437,000
Class A    
Stockholders'/Members' Equity    
Common stock 148,000 0
Class B    
Stockholders'/Members' Equity    
Common stock 0 0
Class C    
Stockholders'/Members' Equity    
Common stock $ 0 $ 0