By Chris Munro

March 20 - (The Insurer) - TWFG’s organic growth accelerated to 20.5% in Q4 2024 from the prior-year period’s 7.8%, while its adjusted Ebitda increased 91.7% to $13.8 million.

• Q4 20.5% organic growth up from Q3 2024's 7.8%

• 26.8% adjusted Ebitda margin up from 18.3% in prior-year period

• Total revenue up 30.8% to $51.7 million in Q4 2024

• CEO Bunch notes "robust pipeline" for M&A in 2025

The fourth-quarter 2024 organic growth of 20.5% was also a marked increase on the 7.6% The Woodlands, Texas-based brokerage booked in Q3 of last year.

TWFG’s organic growth figure for Q4 2024 was right in the middle of the preliminary range the company issued at the end of February of 20.2% to 20.8%.

In its fourth-quarter and full-year earnings announcement, issued after the markets closed in New York on Wednesday, TWFG posted an adjusted Ebitda margin of 26.8% for the final three months of 2024, compared with 18.3% in the same stretch in 2023.

Nasdaq-listed TWFG's share price was down 7% as of 9:52 a.m. on Thursday.

TWFG’s total revenue for 2024’s fourth quarter increased by 30.8% year on year to $51.7 million.

The broker’s total written premium increased by 20.0% year on year to $361.4 million.

Net income for 2024’s final quarter totalled $8.2 million, compared with the prior-year period’s $5.2 million.

Its adjusted net income for the quarter increased 57.0% from the prior-year period to $10.5 million.

TWFG’s founder, chairman and CEO Gordy Bunch said the Q4 2024 results “demonstrate the continued success of our agents, carriers, employees, and business model”.

“Our fourth quarter recruiting efforts continued to outpace our historical growth trends,” Bunch said.

“Our continued expansion throughout the US was fueled by both recruitment of start-up agencies and strategic acquisitions in the following states Colorado, Connecticut, Idaho, Indiana, Missouri, Nevada, New Mexico, Oregon, South Carolina, South Dakota, Tennessee, Utah, Vermont, Washington and Wyoming,” he added.

TWFG has already completed two acquisitions this year, one in Ohio and another in Texas.

“Our robust pipeline provides us many quality acquisition targets to achieve the remainder of our 2025 M&A goals,” the company said.

“Our M&A models included beginning 2025 with acquiring $3 million of revenues and $0.7 million of Ebitda with an additional $20 million of revenue and $5 million of Ebitda being acquired with a mid-year convention,” TWFG added.