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Mar 31, 2020
Tiptree Q1 2020 Earnings Report
Reported a decrease in revenues due to net unrealized losses on investments, but excluding these losses, revenues and Operating EBITDA increased, driven by Tiptree Insurance performance.
Key Takeaways
Tiptree Inc. reported a decrease in revenues of $129.7 million, primarily due to net unrealized losses of $83.9 million on investments. However, excluding these losses, revenues increased by 18.7%, and Operating EBITDA increased by 25.4%. The company's book value per share decreased by 15.2% to $9.73, and a dividend of $0.04 per share was declared.
Revenues decreased by 29.5% to $129.7 million, mainly due to net unrealized losses of $83.9 million.
Excluding net unrealized losses, revenues increased by 18.7%.
Operating EBITDA increased by 25.4% to $15.8 million, driven by Tiptree Insurance.
Book value per share decreased by 15.2% to $9.73 due to unrealized mark-to-market losses.