BRP Group, Inc. (BRP) Financial Statements (2024 and earlier)
Company Profile
Business Address |
4211 W. BOY SCOUT BLVD. TAMPA, FL 33607 |
State of Incorp. | DE |
Fiscal Year End | December 31 |
Industry (SIC) | 6411 - Insurance Agents, Brokers, and Service (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 105,546 | 81,299 | 118,090 | 158,600 | 183,402 | 156,811 | |||
Cash and cash equivalents | 105,546 | 81,299 | 118,090 | 158,600 | 183,402 | 156,811 | |||
Restricted cash and investments | 107,350 | 105,520 | 112,381 | 92,017 | 100,529 | 87,097 | |||
Receivables | 114 | 113 | 1,844 | 1,715 | 1,757 | ||||
Other undisclosed current assets | 605,512 | 593,542 | 541,815 | 458,430 | 440,884 | 389,516 | |||
Total current assets: | 818,408 | 780,475 | 772,399 | 710,891 | 726,530 | 635,181 | |||
Noncurrent Assets | |||||||||
Operating lease, right-of-use asset | 92,921 | 95,316 | 96,465 | 98,049 | 86,374 | 83,014 | |||
Property, plant and equipment | 24,402 | 25,470 | 25,405 | 24,500 | 22,756 | 18,280 | |||
Intangible assets, net (including goodwill) | 2,484,818 | 2,503,134 | 2,521,978 | 2,539,058 | 2,540,669 | 2,160,004 | |||
Goodwill | 1,421,849 | 1,422,060 | 1,422,060 | 1,420,929 | 1,415,281 | 1,232,399 | |||
Intangible assets, net (excluding goodwill) | 1,062,969 | 1,081,074 | 1,099,918 | 1,118,129 | 1,125,388 | 927,605 | |||
Other noncurrent assets | 44,582 | 43,878 | 45,935 | 39,890 | 34,316 | 45,543 | |||
Total noncurrent assets: | 2,646,723 | 2,667,798 | 2,689,783 | 2,701,497 | 2,684,115 | 2,306,841 | |||
TOTAL ASSETS: | 3,465,131 | 3,448,273 | 3,462,182 | 3,412,388 | 3,410,645 | 2,942,022 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities, including: | 110,106 | 108,641 | 125,743 | 114,198 | 104,330 | 87,316 | |||
Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 39,225 | 24,549 | 9,929 | ||
Accrued liabilities | 11,070 | 11,029 | 13,101 | 11,862 | 10,943 | 13,310 | |||
Other undisclosed accounts payable and accrued liabilities | 99,036 | 97,612 | 112,642 | 63,111 | 68,838 | 64,077 | |||
Deferred revenue | 22,059 | ||||||||
Debt | 8,521 | ||||||||
Business combination, contingent consideration, liability | 116,228 | 118,569 | 46,717 | 41,645 | 43,615 | 20,897 | |||
Due to related parties | ✕ | ✕ | 1,525 | 1,525 | 61,500 | ||||
Other undisclosed current liabilities | 600,960 | 544,085 | 525,221 | 417,460 | 422,355 | 330,991 | |||
Total current liabilities: | 827,294 | 772,820 | 699,206 | 573,303 | 570,300 | 531,284 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 1,277,666 | 1,293,765 | 1,314,862 | 1,426,722 | 1,414,079 | 960,794 | |||
Long-term debt, excluding current maturities | 1,277,666 | 1,293,765 | 1,314,862 | 1,337,973 | 1,337,080 | 888,172 | |||
Liabilities, other than long-term debt | 262,909 | 254,577 | 308,075 | 188,299 | 166,381 | 210,909 | |||
Other liabilities | 241 | 250 | 164 | 330 | 3,959 | ||||
Operating lease, liability | 84,584 | 86,739 | 87,692 | 88,749 | 76,999 | 72,622 | |||
Business combination, contingent consideration, liability | 178,084 | 167,588 | 220,219 | 187,969 | 166,381 | 206,950 | |||
Total noncurrent liabilities: | 1,540,575 | 1,548,342 | 1,622,937 | 1,615,021 | 1,580,460 | 1,171,703 | |||
Total liabilities: | 2,367,869 | 2,321,162 | 2,322,143 | 2,188,324 | 2,150,760 | 1,702,987 | |||
Temporary equity, carrying amount | 495 | 538 | 487 | 424 | 350 | 288 | |||
Equity | |||||||||
Equity, attributable to parent, including: | 598,522 | 606,359 | 608,104 | 651,695 | 660,326 | 639,439 | |||
Additional paid in capital | 732,673 | 716,645 | 704,291 | 699,415 | 683,331 | 671,143 | |||
Accumulated deficit | (134,793) | (110,896) | (96,764) | (48,274) | (23,481) | (32,123) | |||
Receivable from shareholders or affiliates for issuance of capital stock | (21) | (42) | (63) | (131) | (175) | ||||
Other undisclosed equity, attributable to parent | 642 | 631 | 619 | 617 | 607 | 594 | |||
Equity, attributable to noncontrolling interest | 498,245 | 520,214 | 531,448 | 571,945 | 599,209 | 599,308 | |||
Total equity: | 1,096,767 | 1,126,573 | 1,139,552 | 1,223,640 | 1,259,535 | 1,238,747 | |||
TOTAL LIABILITIES AND EQUITY: | 3,465,131 | 3,448,273 | 3,462,182 | 3,412,388 | 3,410,645 | 2,942,022 |
Income Statement (P&L) ($ in thousands)Annual | Quarterly
9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | ||
---|---|---|---|---|---|---|---|---|
Revenues (Insurance Commissions and Fees) | 297,191 | 330,446 | 246,044 | 259,368 | 232,460 | 242,848 | ||
Cost of revenue | (247,437) | (266,923) | (241,545) | (232,111) | (156,151) | (159,068) | ||
Gross profit: | 49,754 | 63,523 | 4,499 | 27,257 | 76,309 | 83,780 | ||
Operating expenses | (66,285) | (59,904) | (70,919) | (57,112) | (50,870) | (44,042) | ||
Operating income (loss): | (16,531) | 3,619 | (66,420) | (29,855) | 25,439 | 39,738 | ||
Nonoperating income (expense) | (26,467) | (29,395) | (24,338) | (16,852) | (8,846) | 5,101 | ||
Other nonoperating income (expense) | 2,669 | (1,511) | 986 | 3,914 | 5,786 | 15,451 | ||
Income (loss) from continuing operations before income taxes: | (42,998) | (25,776) | (90,758) | (46,707) | 16,593 | 44,839 | ||
Income tax expense | (665) | (78) | ||||||
Other undisclosed loss from continuing operations | (715) | |||||||
Income (loss) from continuing operations: | (43,663) | (25,854) | (91,473) | (46,707) | 16,593 | 44,839 | ||
Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | (46,707) | 16,593 | 44,839 | |
Net income (loss): | (43,663) | (25,854) | (91,473) | (46,707) | 16,593 | 44,839 | ||
Net income (loss) attributable to noncontrolling interest | 19,766 | 11,722 | 42,983 | 21,914 | (7,951) | (21,970) | ||
Net income (loss) available to common stockholders, diluted: | (23,897) | (14,132) | (48,490) | (24,793) | 8,642 | 22,869 |
Comprehensive Income ($ in thousands)Annual | Quarterly
9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | ||
---|---|---|---|---|---|---|---|---|
Net income (loss): | (43,663) | (25,854) | (91,473) | (46,707) | 16,593 | 44,839 | ||
Comprehensive income (loss): | (43,663) | (25,854) | (91,473) | (46,707) | 16,593 | 44,839 | ||
Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 19,766 | 11,722 | 42,983 | 21,914 | (7,951) | (21,970) | ||
Comprehensive income (loss), net of tax, attributable to parent: | (23,897) | (14,132) | (48,490) | (24,793) | 8,642 | 22,869 |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.