Tiptree Announces First Quarter 2026 Results

Tiptree Announces First Quarter 2026 Results April 30, 2026 Tiptree Inc. (NASDAQ:TIPT) (“Tiptree” or the “Company”), today announced its financial results for the three months ended March 31, 2026. Highlights Returned capital to shareholders through approximately $5.0 million of share repurchases during the first quarter, at an average price of $16.13 per share.Declared a dividend of $0.06 per share to stockholders of record on May 18, 2026 with a payment date of May 26, 2026.On September 26, 2025, the Company agreed to sell Fortegra for $1.65 billion, with $1.12 billion estimated gross proceeds to Tiptree pending regulatory approvals. Anticipated closing of the Fortegra transaction remains mid-2026.On October 31, 2025, the Company agreed to sell its mortgage business, Reliance First Capital, for 93.5% of tangible book value at closing, or $50 million of estimated gross proceeds as of March 31, 2026. Anticipated closing remains mid-2026.Tiptree's pro-forma book value as of March 31, 2026 is estimated to be $912 million or $23.80 per diluted share, net of estimated taxes and transaction expenses for the closing of both transactions.Tiptree will continue to think and act like owners—focused on long-term value creation through strategic investments, opportunistic share buybacks, and thoughtful consideration of dividends. With a disciplined financial approach, the Company continues to streamline operations and manage costs to support sustainable growth. ($ in thousands, except per share information) Three Months Ended March 31, GAAP: 2026 2025 Total revenues $ — $ 390 Total expenses $ 8,997 $ 12,972 Income (loss) before taxes $ (8,292 ) $ (11,306 ) Net income (loss) from continuing operations $ (7,139 ) $ (9,701 ) Net income (loss) from discontinued operations $ 21,385 $ 15,336 Diluted earnings per share $ 0.34 $ 0.13 Cash dividends paid per common share $ 0.06 $ 0.06 Non-GAAP(1): Book value per share $ 13.42 $ 12.63 (1) See “—Non-GAAP Reconciliations” for a discussion of non-GAAP financial measures. About Tiptree Tiptree Inc. (NASDAQ: TIPT) allocates capital to select small and middle market companies with the mission of building long-term value. Established in 2007, Tiptree has a significant track record investing across a variety of industries and asset types, including the insurance, asset management, specialty finance, real estate and shipping sectors. With proprietary access and a flexible capital base, Tiptree seeks to uncover compelling investment opportunities and support management teams in unlocking the full value potential of their businesses. For more information, please visit tiptreeinc.com and follow us on LinkedIn. Forward-Looking Statements This release contains “forward-looking statements” which involve risks, uncertainties and contingencies, many of which are beyond the Company’s control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “should,” “target,” “will,” or similar expressions are intended to identify forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the Company’s plans, objectives, expectations for our businesses and intentions. The forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecast in the forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including, but not limited to those described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K, and as described in the Company’s other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of this release. The factors described therein are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could affect our forward-looking statements. Consequently, our actual performance could be materially different from the results described or anticipated by our forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by the federal securities laws, we undertake no obligation to update any forward-looking statements. Tiptree Inc. Condensed Consolidated Balance Sheets (Unaudited) ($ in thousands, except share data) As of March 31, 2026 December 31, 2025 Assets: Current assets: Cash and cash equivalents $ 33,401 $ 30,784 Marketable securities 581 21,701 Other current assets 2,270 2,361 Total current assets 36,252 54,846 Right of use asset 7,837 8,301 Property, plant and equipment, net 5,906 6,262 Other assets 2,739 2,269 Assets held for sale(1) 6,914,921 6,768,387 Total assets $ 6,967,655 $ 6,840,065 Liabilities and Stockholders’ Equity Liabilities: Current liabilities: Short-term debt, net $ 7,979 $ 8,138 Other current liabilities 19,948 20,964 Total current liabilities 27,927 29,102 Long-term debt, net 64,126 63,948 Long-term lease obligations 8,139 8,654 Deferred tax liabilities 82,686 80,390 Liabilities held for sale(1) 6,034,281 5,905,572 Total liabilities $ 6,217,159 $ 6,087,666 Stockholders’ Equity: Preferred stock: $0.001 par value, 100,000,000 shares authorized, none issued or outstanding $ — $ — Common stock: $0.001 par value, 200,000,000 shares authorized, 37,567,024 and 37,824,472 shares issued and outstanding, respectively 38 38 Additional paid-in capital 390,416 394,435 Accumulated other comprehensive income (loss), net of tax (19,727 ) (7,496 ) Retained earnings 133,552 121,574 Total Tiptree Inc. stockholders’ equity 504,279 508,551 Non-controlling interests: Fortegra preferred interests 77,679 77,679 Common interests 168,538 166,169 Total non-controlling interests 246,217 243,848 Total stockholders’ equity 750,496 752,399 Total liabilities and stockholders’ equity $ 6,967,655 $ 6,840,065 (1) See Note (3) Dispositions, Assets Held for Sale & Discontinued Operations for further details, as disclosed in Tiptree's 10-Q filing for the period ended March 31, 2026. Tiptree Inc. Condensed Consolidated Statements of Operations (Unaudited) ($ in thousands, except share data) Three Months Ended March 31, 2026 2025 Revenues: Other revenue $ — $ 390 Total revenues — 390 Expenses: Employee compensation and benefits 6,762 9,333 Depreciation and amortization 356 357 Other expenses 1,879 3,282 Total expenses 8,997 12,972 Operating income (loss) before taxes (8,997 ) (12,582 ) Non operating income: Net realized and unrealized gains (losses) (261 ) 740 Other income 966 536 Income (loss) before taxes (8,292 ) (11,306 ) Less: provision (benefit) for income taxes (1,153 ) (1,605 ) Net income (loss) from continuing operations (7,139 ) (9,701 ) Net income (loss) from discontinued operations(1) 21,385 15,336 Net income (loss) attributable to common stockholders $ 14,246 $ 5,635 Net income (loss) from continuing operations per common share: Basic earnings per share $ (0.19 ) $ (0.26 ) Diluted earnings per share $ (0.19 ) $ (0.26 ) Net income (loss) from discontinued operations per common share: Basic earnings per share $ 0.57 $ 0.41 Diluted earnings per share $ 0.53 $ 0.39 Net income (loss) per common share: Basic earnings per share $ 0.38 $ 0.15 Diluted earnings per share $ 0.34 $ 0.13 Weighted average number of common shares: Basic 37,789,444 37,348,219 Diluted 37,789,444 37,348,219 Dividends declared per common share $ 0.06 $ 0.06 (1) See Note (3) Dispositions, Assets Held for Sale & Discontinued Operations for further details, as disclosed in Tiptree's 10-Q filing for the period ended March 31, 2026. Tiptree Inc. Non-GAAP Financial Measures — Book Value per share Book value is frequently used by the financial community to analyze company growth on a relative per share basis. The following table provides a reconciliation between total stockholders’ equity and total shares outstanding, net of treasury shares. ($ in thousands, except per share information) Three Months Ended March 31, 2026 2025 Total stockholders’ equity $ 750,496 $ 683,462 Less: Non-controlling interests 246,217 209,743 Total stockholders’ equity, net of non-controlling interests 504,279 473,719 Total common shares outstanding 37,567 37,494 Book value per share $ 13.42 $ 12.63 Source: Tiptree Inc.