← Baldwin Insurance Group, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenues | ($6.6m) |
($10.6m)
-60.60%
|
($7.9m)
+26.16%
|
$567.3m
+7320.19%
|
$980.7m
+72.88%
|
$1.2b
+24.25%
|
$1.4b
+13.99%
|
$1.5b
+8.34%
|
$1.7b
+14.43%
|
|
| Other operating expenses | $14.4m | $24.6m | $48.1m | $102.2m | $173.7m | $190.3m | $192.4m | $240.3m | — | |
| Total operating expenses | $70.4m | $142.9m | $262.9m | $598.9m | $1.0b | $1.3b | $1.3b | $1.4b | $1.8b | |
| Operating income (loss) | $9.5m |
($5.1m)
-153.19%
|
($21.9m)
-332.87%
|
($31.6m)
-44.16%
|
($31.1m)
+1.67%
|
($42.6m)
-36.83%
|
$60.6m
+242.53%
|
$73.9m
+21.91%
|
($105.9m)
-243.19%
|
|
| Interest expense, net | ($6.6m) | ($10.6m) | ($7.9m) | ($26.9m) | ($71.1m) | ($119.5m) | ($123.6m) | ($121.4m) | — | |
| Investment income | — | — | — | $0 | $0 | $6.7m | $11.9m | $11.2m | — | |
| Other income (expense), net | ($215k) | $3k | ($95k) | $424k | $26.1m | ($718k) | ($194k) | $635k | ($24.6m) | |
| Loss before income taxes and share of net earnings of equity method investee | ($624k) | ($8.7m) | ($15.7m) | ($30.6m) | ($41.8m) | ($162.7m) | ($39.4m) | ($52.8m) | — | |
| Share of net earnings of equity method investee | — | — | — | — | — | $0 | $0 | $368k | — | |
| Total other expense | ($6.8m) | ($17.4m) | ($8.0m) | ($26.5m) | ($44.9m) | ($120.2m) | ($100.0m) | ($126.7m) | — | |
| Loss before income taxes | $2.7m | ($22.4m) | ($29.9m) | ($58.1m) | ($76.0m) | ($162.7m) | ($39.4m) | ($52.4m) | — | |
| Income tax expense | $0 | $17k | ($5k) | $19k | $715k | $1.3m | $1.7m | $1.7m | ($143.4m) | |
| Net loss | $2.7m | ($22.5m) | ($29.9m) | ($58.1m) | ($76.7m) | ($164.0m) | ($41.1m) | ($54.2m) | — | |
| Net loss attributable to Baldwin | ($624k) | ($8.7m) | ($15.7m) | ($30.6m) | ($41.8m) | ($90.1m) | ($24.5m) | ($33.8m) | — | |
| Less: net loss attributable to noncontrolling interests | $3.3m | ($13.8m) | ($14.2m) | ($27.5m) | ($35.0m) | ($73.9m) | ($16.6m) | ($20.3m) | — | |
| Basic loss per share (in dollars per share) | — | — | ($0.58) | ($0.64) | ($0.74) | ($1.50) | ($0.39) | ($0.50) | — | |
| Diluted loss per share (in dollars per share) | — | — | ($0.58) | ($0.64) | ($0.74) | ($1.50) | ($0.39) | ($0.50) | — | |
| Weighted-average shares of Class A common stock outstanding, basic | — | — | 27.2m | 47.6m | 56.8m | 60.1m | 63.5m | 67.9m | — | |
| Weighted-average shares of Class A common stock outstanding, diluted | — | — | 27.2m | 47.6m | 56.8m | 60.1m | 63.5m | 67.9m | — | |
| Commissions and fees | $79.9m | $137.8m | $240.9m | $567.3m | $980.7m | $1.2b | $1.4b | $1.5b | — | |
| Colleague compensation and benefits | $51.7m | $97.0m | $174.1m | $400.1m | $719.4m | $911.4m | $1.0b | $777.5m | — | |
| Outside commissions | — | — | — | — | — | $211.4m | $269.8m | $279.7m | — | |
| Amortization expense | $2.6m | $10.0m | $19.0m | $48.7m | $81.7m | $92.7m | $102.7m | $121.3m | — | |
| Change in fair value of contingent consideration | $1.2m | $10.8m | $20.5m | $45.2m | $32.3m | $61.1m | ($4.9m) | $5.6m | — | |
| Depreciation expense | $508k | $542k | $1.1m | $2.8m | $4.6m | $5.7m | $6.2m | $6.5m | $188.6m | |
| Gain on divestitures | — | — | — | — | $0 | $0 | $39.0m | $290k | — | |
| Loss on extinguishment and modification of debt | — | — | — | — | $0 | $0 | ($15.1m) | ($6.2m) | — | |
| Other comprehensive income | — | — | — | — | — | $0 | $0 | $815k | — | |
| Comprehensive loss | $2.7m | ($22.5m) | ($29.9m) | ($58.1m) | ($76.7m) | ($164.0m) | ($41.1m) | ($53.3m) | — | |
| Less: comprehensive loss attributable to noncontrolling interests | $3.3m | ($13.8m) | ($14.2m) | ($27.5m) | ($35.0m) | ($73.9m) | ($16.6m) | ($20.0m) | — | |
| Comprehensive loss attributable to Baldwin | ($624k) | ($8.7m) | ($15.7m) | ($30.6m) | ($41.8m) | ($90.1m) | ($24.5m) | ($33.3m) | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.