7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 
      
    		                        
      cash flows from operating activities:
    		                        
      net income
    		-30,237,000 -5,141,000 24,898,000 -34,839,000 -14,475,000 -30,867,000 39,100,000 -62,496,000 -32,006,000 -43,663,000 -25,854,000 -91,473,000 -46,707,000 16,593,000 44,839,000 -44,408,000 -24,222,000 -20,104,000 30,614,000 -19,118,000 -7,615,000 -7,859,000 4,707,000 -26,931,069 
      adjustments to reconcile net income to net cash from operating activities:
    		                        
      depreciation and amortization
    		32,043,000 27,652,000 27,465,000 27,971,000 28,456,000 26,951,000 25,546,000 24,647,000 24,636,000 24,608,000 24,511,000 23,137,000 24,396,000 20,275,000 18,550,000 15,713,000 13,349,000 11,315,000 11,131,000 6,273,000 5,443,000 4,690,000 3,761,000 3,295,857 
      change in fair value of contingent consideration
    		1,980,000 -1,957,000 8,061,000 -22,225,000 -952,000 5,552,000 12,676,000 6,018,000 13,914,000 16,393,000 24,758,000 43,116,000 21,695,000 -26,872,000 -5,632,000 22,033,000 11,341,000 13,325,000 -1,503,000 7,819,000 6,455,000 4,581,000 1,661,000 14,050,909 
      share-based compensation expense
    		22,017,000 16,952,000 12,803,000 18,739,000 17,949,000 14,721,000 14,094,000 13,371,000 14,598,000 18,758,000 13,281,000 21,324,000 8,388,000 10,113,000 7,564,000 7,272,000 3,834,000 4,545,000 3,542,000 2,387,000 2,240,000 1,978,000 1,139,000  
      payment of contingent earnout consideration in excess of purchase price accrual
    		0 -6,897,000 -78,193,000 -2,250,000 -772,000 -4,055,000 -16,318,000 -1,687,000 -16,499,000 -5,283,000 -857,000 -983,000 -1,140,000 -36,686,000 -11,117,000 -4,223,000 0   0 -411,000    
      gain on divestitures
    		0 1,111,000 -1,401,000 0 -1,809,000 -628,000 -36,516,000                  
      amortization of deferred financing costs
    		1,423,000 1,421,000 1,422,000 1,422,000 1,422,000 1,445,000 1,552,000 1,552,000 1,244,000 1,094,000 1,239,000 1,226,000 1,420,000 1,188,000 1,286,000 1,205,000 858,000 750,000 693,000 618,000 189,000 119,000 76,000 194,963 
      loss on extinguishment of debt
    		   0 0                    
      other operating activity
    		                        
      changes in operating assets and liabilities:
    		                        
      assumed premiums, commissions and fees receivable
    		4,504,000 -6,107,000 -47,789,000                      
      prepaid expenses and other current assets
    		-2,639,000 1,792,000 -6,708,000 767,000 -2,653,000 -698,000 -4,629,000 -555,000 -1,543,000 108,000 -4,859,000  -850,000 -1,153,000 -8,908,000  -3,519,000 -1,618,000 -636,000  564,000 300,000 -634,000  
      right-of-use assets
    		4,097,000 4,175,000 3,775,000 4,141,000 4,211,000 4,165,000 4,186,000 10,292,000 4,127,000 2,395,000 1,149,000 1,584,000 -10,960,000 -2,748,000 -1,368,000          
      accounts payable, accrued expenses and other current liabilities
    		14,829,000 -29,619,000 9,892,000 46,166,000 -131,682,000 127,626,000 39,451,000 107,882,000 -18,854,000 51,810,000 -163,000 103,080,000 6,519,000 63,136,000 627,000 24,485,000 -18,618,000 39,685,000 9,636,000 3,930,000 -16,565,000 40,510,000 -527,000 3,984,449 
      colleague earnout incentives
    		-989,000 -16,970,000 -14,854,000                      
      operating lease liabilities
    		-4,440,000 -3,173,000 -4,080,000 -2,589,000 -4,388,000 -4,088,000 -2,712,000 -9,022,000 -2,130,000 -1,564,000 -468,000 -461,000 11,639,000 3,369,000 1,984,000          
      net cash from operating activities
    		41,017,000 -16,721,000 -63,983,000 16,443,000 2,108,000 80,706,000 2,894,000 21,845,000 -12,629,000 49,459,000 -14,031,000 14,191,000 -12,012,000 -1,208,000 -3,433,000 13,088,000 -22,378,000 46,132,000 3,287,000 6,046,000 -12,873,000 38,673,000 4,971,000 -2,480,760 
      cash flows from investing activities:
    		                        
      capital expenditures
    		-8,864,000 -11,377,000 -8,933,000 -12,152,000 -10,193,000 -10,558,000 -8,146,000 -7,219,000 -5,533,000 -5,125,000 -3,499,000 -6,579,000 -6,835,000 -6,772,000 -1,793,000 -2,133,000 -1,432,000 -756,000 -1,000,000 -1,334,000 -1,516,000 -2,036,000 -583,000 -253,277 
      free cash flows
    		32,153,000 -28,098,000 -72,916,000 4,291,000 -8,085,000 70,148,000 -5,252,000 14,626,000 -18,162,000 44,334,000 -17,530,000 7,612,000 -18,847,000 -7,980,000 -5,226,000 10,955,000 -23,810,000 45,376,000 2,287,000 4,712,000 -14,389,000 36,637,000 4,388,000 -2,734,037 
      cash consideration paid for business combinations, net of cash received
    		-73,812,000           0 -10,620,000   -449,215,000 -194,542,000 -6,918,000 -17,358,000 -438,833,000 -6,291,000 -184,807,000 -39,305,000 1,063,015 
      proceeds from divestitures, net of cash transferred
    		0 500,000 1,401,000 0 562,000 1,967,000 54,448,000                  
      investments in and loans for business ventures
    		-700,000 -15,013,000 -620,000  -362,000 -152,000 -3,189,000                  
      cash consideration paid for asset acquisitions
    		0 0 -460,000 0 0   0 -507,000 -111,000 -1,500,000              
      proceeds from repayment of related party loans
    		    0 0 1,500,000                  
      net cash from investing activities
    		-83,376,000 -37,589,000 -8,612,000 -12,310,000 -9,993,000 -9,011,000 44,613,000 -4,974,000 -6,354,000 -5,495,000 -5,099,000 -6,891,000 -17,571,000 -386,763,000 -3,132,000 -454,892,000 -195,974,000 -9,249,000 -18,358,000 -442,576,000 -7,807,000 -187,538,000 -39,888,000 802,080 
      cash flows from financing activities:
    		                        
      change in fiduciary receivables and liabilities
    		-41,786,000 60,727,000 -5,444,000                      
      payment of contingent earnout consideration up to amount of purchase price accrual
    		0 -31,415,000 -32,841,000 -33,980,000 -4,729,000 -27,175,000 -32,794,000 -1,141,000 -19,173,000 -2,955,000 -4,680,000 -1,091,000 -4,034,000 -29,191,000 -13,993,000          
      proceeds from revolving line of credit
    		93,000,000 112,000,000 9,000,000 11,000,000 0 25,000,000 70,000,000 23,000,000 28,000,000 10,000,000 50,000,000 0 17,000,000 455,000,000 40,000,000 300,210,000 100,000,000   200,000,000 0 165,637,000 20,000,000  
      payments on revolving line of credit
    		-139,000,000 0 -9,000,000 -11,000,000 0 -359,000,000 -77,000,000 -6,000,000 -174,000,000 -25,000,000 -70,000,000 -22,000,000 -15,000,000            
      proceeds from refinancing of long-term debt
    		1,006,121,000 0 935,800,000 0 0                    
      payments relating to extinguishment and modification of long-term debt
    		-931,121,000 0 -835,800,000 0 0                    
      payments on long-term debt
    		-2,515,000 -2,339,000 -2,340,000 -2,100,000 -2,100,000 0 -2,561,000 -2,561,000 -2,561,000 -2,127,000 -2,127,000 -2,127,000 -2,128,000 -2,127,000 -2,127,000  -1,250,000 0 -1,000,000      
      payments of deferred financing costs
    		   0 -746,000                    
      tax distributions to baldwin holdings llc members
    		    0 -10,978,000 -98,000                  
      other financing activity
    		-6,000 -22,000 -488,000                      
      net cash from financing activities
    		-15,399,000 138,951,000 58,887,000 -36,080,000 -7,575,000 54,164,000 -40,153,000 15,698,000 481,000 -17,887,000 -24,522,000 -27,446,000 -3,731,000 427,994,000 22,736,000 248,104,000 363,805,000 116,554,000 -4,404,000 520,554,000 -125,758,000 297,336,000 19,811,000 55,240,127 
      net increase in cash and cash equivalents and fiduciary cash
    		-57,758,000 84,641,000 -13,708,000                      
      cash and cash equivalents and fiduciary cash at beginning of period
    		0 0 312,769,000                      
      cash and cash equivalents and fiduciary cash at end of period
    		-57,758,000 84,641,000 299,061,000                      
      loss on interest rate caps
    		 0 18,000    26,000                  
      other loss
    		   319,000 0   -436,000 567,000 130,000 100,000              
      other (gain) loss
    		  708,000    -4,000                  
      proceeds from the settlement of interest rate caps
    		    0 0 2,300,000                  
      (gain) loss on interest rate caps
    		       1,181,000   1,407,000 -800,000             
      changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
    		                        
      premiums, commissions and fees receivable
    		   -45,985,000 106,717,000 -60,936,000 -73,558,000 -68,902,000 -1,501,000 -13,515,000 -48,351,000 -85,880,000 -18,761,000 -43,006,000 -35,359,000 -6,351,000 -5,793,000 -1,993,000 -50,364,000 5,889,000 -3,253,000 -4,243,000 -5,221,000 -5,558,914 
      other liabilities
    		          77,000 -149,000             
      investments in and loans to business ventures
    		                        
      proceeds from repayment of loans to business ventures
    		                        
      proceeds from the sale and settlement of interest rate caps
    		       3,025,000 2,953,000                
      purchase of interest rate caps
    		               0 -3,000,000 0 -3,461,000      
      tax distributions to baldwin holdings' llc members
    		                        
      proceeds from repayment of stockholder notes receivable
    		       0 0 21,000 21,000  68,000 44,000 44,000  43,000 43,000 116,000      
      distributions to variable interest entities
    		   0 0                    
      net increase in cash and cash equivalents and restricted cash
    		   -31,947,000 -15,460,000 125,859,000 7,354,000 32,569,000 -18,502,000 26,077,000 -43,652,000 -20,146,000 -33,314,000 40,023,000 16,171,000 -193,700,000 145,453,000   84,024,000 -146,438,000 148,471,000 -15,106,000 53,561,447 
      cash and cash equivalents and restricted cash at beginning of year
    		                        
      cash and cash equivalents and restricted cash at end of year
    		                        
      cash and cash equivalents and restricted cash at beginning of period
    		    0 0 226,963,000  0 0 230,471,000  0 0 227,737,000  0 0 142,022,000  0 0 71,071,000  
      cash and cash equivalents and restricted cash at end of period
    		    -15,460,000 125,859,000 234,317,000  -18,502,000 26,077,000 186,819,000  -33,314,000 40,023,000 243,908,000  145,453,000 153,437,000 122,547,000  -146,438,000 148,471,000 55,965,000  
      changes in operating assets and liabilities, net of effect of acquisitions:
    		                        
      proceeds from the sale of assets
    		                        
      proceeds from issuance of class a common stock, net of underwriting discounts
    		               -1,000    284,228,000 0    
      payment of common stock offering costs
    		                    -29,000    
      proceeds from long-term debt
    		               343,516,000 0        
      payments of debt issuance costs
    		       -551,000    -70,000 -186,000 -377,000 -1,188,000  -59,000 -575,000 -59,000      
      tax distributions to brp's llc members
    		                        
      investment in business ventures
    		        -314,000 -259,000 -100,000              
      proceeds from issuance of long-term debt
    		                        
      tax distributions to brp llc members
    		        -47,000 -350,000 -11,000  0            
      distributions to vies
    		        -244,000                
      gain on interest rate caps
    		                        
      due to/from related parties
    		          -1,000 1,113,000 -129,000 42,000 -89,000          
      proceeds from settlements of interest rate caps
    		          2,275,000              
      other fair value adjustments
    		           -234,000    94,000 123,000        
      prepaid expenses and other assets
    		                       -2,246,824 
      purchase of llc units from shareholders
    		                        
      proceeds from the sales and settlements of interest rate caps
    		           1,659,000             
      proceeds received from repayment of stockholder notes receivable
    		                        
      cash consideration paid for asset acquisitions, net of cash received
    		            0 -2,656,000 -700,000 -1,637,000 0   -1,159,000 0   -7,658 
      investment in business venture
    		            -116,000 -36,000 -639,000         0 
      change in fair value of interest rate caps
    		             -5,459,000 -15,810,000 -1,036,000 334,000        
      proceeds from the sale of interest rate caps
    		                        
      issuance of management incentive units
    		                        
      participation unit compensation
    		                       -99,797 
      payment of offering costs
    		                        
      payment of contingent and guaranteed earnout consideration
    		               -6,645,000 -250,000   0 -527,000    
      repayments of revolving line of credit
    		                   -200,000,000     
      repayments of long-term debt
    		                        
      payments of debt issuance and debt extinguishment costs
    		                        
      proceeds received from repayment of stockholder/member notes receivable
    		                      41,000  
      proceeds from related party debt
    		                       -1,699,959 
      repayments of related party debt
    		                        
      payments for repurchase of common units
    		                        
      distributions
    		                       -717,617 
      due from related parties
    		                -65,000 -90,000 174,000 22,000 80,000 -87,000 9,000 1,496 
      redemption and repurchase of llc units and class b common stock
    		                        
      other
    		                    8,000    
      supplemental schedule of cash flow information:
    		                        
      cash paid during the period for interest
    		                4,153,000    823,000    
      disclosure of non-cash investing and financing activities:
    		                        
      equity issued in business combinations
    		                71,920,000    445,000    
      contingent earnout liabilities assumed in business combinations
    		                53,101,000        
      conversion of contingent earnout liability to related party notes payable
    		                        
      noncash debt issuance costs incurred
    		                0        
      capital expenditures incurred but not yet paid
    		                460,000        
      net decrease in cash and cash equivalents and restricted cash
    		                  -19,475,000      
      loss on disposal of property and equipment
    		                        
      proceeds from issuance of llc units
    		                        
      proceeds from advisor incentive buy-ins
    		                       117,098 
      contributions
    		                       4,693 
      issuance and vesting of management incentive units
    		                        
      repurchase/redemption of llc units and class b common stock
    		                    0    
      payments of debt issuance costs and debt extinguishment costs
    		                    -264,000 -1,688,000 -230,000  
      proceeds from repayment of stockholder/member notes receivable
    		                    54,000    
      repurchase of common units
    		                        
      brp group, inc.
    		                        
      condensed consolidated statements of cash flows
    		                        
      contingent earnout consideration issuances
    		                    1,424,000    
      additions to property and equipment included in accrued expenses and other current liabilities
    		                        
      change in the redemption value of redeemable interests
    		                        
      capitalization of issuance to redeemable common member
    		                        
      capitalization of offering costs
    		                        
      debt issuance costs added to revolving line of credit
    		                        
      transfer of long-term debt to revolving line of credit
    		                        
      contingently returnable consideration for business combinations
    		                        
      payment of guaranteed earnout consideration
    		                       -500 
      proceeds from issuance of common units
    		                        
      issuance of voting common units to redeemable common equity holder
    		                        
      issuance and vesting of management incentive units to members
    		                       670,513 
      stock-based compensation expense
    		                       3,117,190 
      payment of initial public offering costs
    		                        
      payment of contingent earnout consideration
    		                        
      proceeds from issuance of non-voting common units
    		                        
      repurchase of voting common units from members
    		                       0 
      loss on modification and extinguishment of debt
    		                        
      deferred commission expense
    		                        
      contract liabilities
    		                        
      other long-term liabilities
    		                        
      net borrowings on revolving line of credit
    		                        
      proceeds from issuance of non-voting common units to members
    		                        
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.