7Baggers

BRP Group, Inc
(NASDAQ:BRP) 

BRP stock logo

BRP Group, Inc. markets and sells insurance products and services in the United States. The company operates through four segments: Middle Market, Specialty, MainStreet, and Medicare. The Middle Market segment provides private risk management, commercial risk management, and employee benefits soluti...

Full Time Employees: 800
CEO: Trevor L. Baldwin  
Sector: Financial Services
Industry: Insurance Brokers
InsuranceFinancial Services
Share this website to your friends
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 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 2019-09-30 
                               
      revenues:
    		                           
      commissions and fees
    		528,861,000 344,583,000 362,317,000 376,249,000 410,531,000 326,707,000 335,210,000 337,103,000 378,096,000 277,921,000 306,270,000 297,191,000 330,446,000 246,044,000 259,368,000 232,460,000 242,848,000 159,200,000 135,556,000 119,706,000 152,828,000 69,649,000 65,843,000 51,268,000 54,159,000 36,560,339 38,383,455 
      investment income
    		3,374,000 2,696,000 3,072,000 2,562,000 2,874,000 3,185,000 3,728,000 2,737,000 2,271,000                   
      total revenues
    		532,235,000 347,279,000 365,389,000 378,811,000 413,405,000 329,892,000 338,938,000 339,840,000 380,367,000                   
      yoy
    		28.74% 5.27% 7.80% 11.47% 8.69%                       
      qoq
    		53.26% -4.96% -3.54% -8.37% 25.32% -2.67% -0.27% -10.65%                    
      operating expenses:
    		                           
      colleague compensation and benefits
    		283,612,000 191,009,000 193,031,000 195,471,000 198,020,000                       
      outside commissions
    		66,679,000 61,191,000 79,111,000 73,586,000 65,823,000                       
      other operating expenses
    		224,163,000 70,136,000 56,008,000 56,119,000 58,019,000 51,168,000 48,839,000 46,564,000 45,795,000 49,013,000 47,165,000 47,485,000 46,604,000 49,284,000 47,212,000 40,770,000 36,442,000 37,805,000 27,589,000 19,200,000 17,568,000 17,483,000 12,146,000 9,546,000 8,885,000   
      amortization expense
    		55,047,000 39,030,000 30,394,000 26,010,000 25,882,000 26,396,000 26,899,000 25,394,000 24,041,000 23,199,000 23,183,000 23,159,000 23,163,000 21,826,000 23,180,000 19,170,000 17,562,000 14,845,000 12,596,000 10,742,000 10,537,000 5,807,000 5,185,000 4,450,000 3,596,000 3,214,221 3,081,578 
      change in fair value of contingent consideration
    		1,969,000 -2,490,000 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 14,050,909 535,214 
      depreciation expense
    		2,031,000 1,640,000 1,649,000 1,642,000 1,583,000 1,575,000 1,557,000 1,557,000 1,505,000 1,448,000 1,453,000 1,449,000 1,348,000 1,311,000 1,216,000 1,105,000 988,000 868,000 753,000 573,000 594,000 466,000 258,000 240,000 165,000 81,636 184,179 
      total operating expenses
    		633,501,000 360,516,000 362,173,000 350,871,000 357,388,000 335,366,000 323,532,000 323,382,000 346,109,000 314,373,000 306,184,000 313,722,000 326,827,000 312,464,000 289,223,000 207,021,000 203,110,000 197,080,000 152,360,000 132,905,000 116,571,000 83,409,000 72,513,000 58,080,000 48,855,000 55,098,924 36,908,957 
      operating income
    		-101,266,000 -13,237,000 3,216,000 27,940,000 56,017,000 -5,474,000 15,406,000 16,458,000 34,258,000 -29,725,000 86,000 -16,531,000 3,619,000 -66,420,000 -29,855,000 25,439,000 39,738,000 -37,880,000 -16,804,000 -13,199,000 36,257,000 -13,760,000 -6,670,000 -6,812,000 5,304,000 -18,538,585 1,474,498 
      yoy
    		-280.78% 141.82% -79.13% 69.77% 63.52% -81.58% 17813.95% -199.56% 846.62% -55.25% -100.29% -164.98% -90.89% 75.34% 77.67% -292.73% 9.60% 175.29% 151.93% 93.76% 583.58% -25.78% -552.36%     
      qoq
    		665.02% -511.60% -88.49% -50.12% -1123.33% -135.53% -6.39% -51.96% -215.25% -34663.95% -100.52% -556.78% -105.45% 122.48% -217.36% -35.98% -204.90% 125.42% 27.31% -136.40% -363.50% 106.30% -2.08% -228.43% -128.61% -1357.28%  
      operating margin %
    		-19.03% -3.81% 0.88% 7.38% 13.55% -1.66% 4.55% 4.84% 9.01% -Infinity% Infinity% -Infinity% Infinity% -Infinity% -Infinity% Infinity% Infinity% -Infinity% -Infinity% -Infinity% Infinity% -Infinity% -Infinity% -Infinity% Infinity% -Infinity% Infinity% 
      other income:
    		                           
      interest expense
    		-38,900,000 -29,000,000 -31,132,000 -31,320,000 -29,976,000 -29,441,000 -31,329,000 -31,329,000 -31,545,000 -31,865,000 -30,580,000 -29,136,000 -27,884,000 -25,324,000 -20,766,000 -14,632,000 -10,350,000 -8,468,000 -6,940,000 -5,848,000 -5,643,000 -5,303,000 -922,000 -1,047,000 -585,000 -1,641,692 -3,784,866 
      gain on divestitures
    		   -1,111,000 1,401,000  1,809,000 628,000 36,516,000                   
      loss on extinguishment and modification of debt
    		-7,409,000 -542,000 -3,290,000  -2,394,000 -45,000 -389,000 -14,679,000                    
      other income
    		647,000 -110,000 860,000 35,000 -150,000 -299,000 28,000 -461,000 538,000 -525,000 -1,351,000 2,669,000 -1,511,000 986,000 3,914,000 5,786,000 15,451,000     -72,000 -23,000   -1,792 4,792 
      total other expense
    		-45,662,000 -29,652,000 -33,562,000 -32,396,000  -29,785,000 -29,881,000 -45,841,000  -32,390,000 -31,931,000 -26,467,000  -24,338,000 -16,852,000 -8,846,000  -6,509,000 -7,418,000 -6,905,000  -5,375,000 -945,000     
      income before income taxes and share of net earnings of equity method investee
    		-146,928,000                           
      share of net earnings of equity method investee
    		511,000 259,000 109,000                         
      income before income taxes
    		-146,417,000 -42,630,000 -30,237,000 -4,456,000 24,898,000 -35,259,000 -14,475,000 -29,383,000 39,767,000 -62,115,000 -31,845,000 -42,998,000 -25,776,000     -44,389,000 -24,222,000 -20,104,000 30,614,000 -19,135,000 -7,615,000 -7,859,000 4,719,000   
      less: income tax benefit
    		-144,521,000                           
      net income
    		-1,896,000 -43,674,000 -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   
      yoy
    		-107.62% 25.36% 108.89% -83.34% -36.32% -44.25% -54.77% -29.31% -251.23% -31.68% -31.47% -363.14% -157.66% 105.98% 92.83% -182.54% 46.47% 132.28% 218.08% 155.81% 550.39%       
      qoq
    		-95.66% 44.44% 488.15% -120.65% -171.47% 140.68% -53.11% -178.94% -162.56% 95.26% -26.70% 68.88% -71.74% 95.84% -381.49% -62.99% -200.97% 83.34% 20.48% -165.67% -260.13% 151.06% -3.10% -266.96%    
      net income margin %
    		-0.36% -12.58% -8.28% -1.36% 6.02% -10.56% -4.27% -9.08% 10.28% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% Infinity% Infinity% -Infinity% -Infinity% -Infinity% Infinity% -Infinity% -Infinity% -Infinity% Infinity% NaN% NaN% 
      less: net income attributable to noncontrolling interests
    		-4,237,000   -1,977,000 10,959,000   -13,310,000 17,522,000 -11,466,250 -14,377,000 -19,766,000 -11,722,000 2,001,750 -21,914,000 7,951,000 21,970,000   -10,348,000 16,001,000 -1,344,750 -4,347,000 -4,271,000 3,239,000   
      net income attributable to baldwin
    		2,341,000   -3,164,000 13,939,000   -17,557,000 21,578,000                   
      basic earnings per share
    		0.02   -0.05 0.21   -0.28 0.35 -0.233 -0.29 -0.4 -0.24 0.03 -0.43 0.15 0.41   -0.22 0.33    0.08   
      diluted earnings per share
    		0.02   -0.05 0.2   -0.28 0.33 -0.233 -0.29 -0.4 -0.24 0.028 -0.43 0.14 0.39   -0.22 0.32    0.07   
      weighted-average shares of class a common stock outstanding - basic
    		93,798   68,009,996 66,067,143   63,124,601 61,856,147  60,549,080 60,093,228 58,711,798  57,282,132 56,270,491 55,719,803   44,671,308 44,255,011    19,481,721   
      weighted-average shares of class a common stock outstanding - diluted
    		96,828   68,009,996 69,327,694   63,124,601 65,314,248  60,549,080 60,093,228 58,711,798  57,282,132 59,858,816 58,715,825   44,671,308 45,783,086    19,816,363   
      other comprehensive income
    		3,292 -1,049,185 1,050,000                         
      comprehensive income
    		1,396   -5,141,000 24,898,000   -30,867,000 39,100,000 -25,380,750 -32,006,000 -43,663,000 -25,854,000 3,681,250 -46,707,000 16,593,000 44,839,000   -20,104,000 30,614,000 -2,691,750 -7,615,000 -7,859,000 4,707,000   
      less: comprehensive income attributable to noncontrolling interests
    		-3,191                           
      comprehensive income attributable to baldwin
    		4,587   -3,164,000 13,939,000   -17,557,000 21,578,000                   
      loss before income taxes and share of net earnings of equity method investee
    		 -42,889,000 -30,346,000                         
      income tax expense
    		 1,044,000  685,000  -420,000  1,484,000 667,000 381,000 161,000 665,000 78,000               
      less: net loss attributable to noncontrolling interests
    		 -17,813,000 -11,510,000   -14,677,000 -6,098,000           -21,738,000 -11,389,000         
      net loss attributable to baldwin
    		 -25,861,000 -18,727,000   -20,162,000 -8,377,000                     
      comprehensive loss
    		 9,376,661 -29,187,000   -34,839,000 -14,475,000           -44,408,000 -24,222,000         
      less: comprehensive loss attributable to noncontrolling interests
    		 2,507,982 -11,510,000                         
      comprehensive loss attributable to baldwin
    		 6,868,679 -17,677,000   -20,162,000 -8,377,000                     
      basic and diluted loss per share
    		 -0.38 -0.27   -0.32 -0.13           -0.045 -0.28         
      weighted-average shares of class a common stock outstanding - basic and diluted
    		  68,604,951                46,446,254         
      comprehensive income attributable to noncontrolling interests
    		   -1,977,000 10,959,000   -13,310,000 17,522,000 -11,466,250 -14,377,000 -19,766,000 -11,722,000 2,001,750 -21,914,000 7,951,000 21,970,000   -10,348,000 16,001,000 -1,344,750 -4,347,000 -4,271,000 3,239,000   
      total other income
    		    -31,119,000    5,509,000    -29,395,000    5,101,000         -2,248,379 -3,780,074 
      commissions, employee compensation and benefits
    		     278,452,000 247,189,000 244,315,000 262,092,000 234,695,000 220,469,000 225,236,000 230,954,000 196,927,000 195,920,000 172,848,000 153,750,000 121,529,000 100,081,000 89,065,000 89,375,000 51,834,000 48,469,000 39,263,000 34,548,000 29,887,653 26,787,773 
      comprehensive loss attributable to noncontrolling interests
    		     -14,677,000 -6,098,000           -21,738,000 -11,389,000         
      basic and diluted weighted-average shares of class a common stock outstanding
    		 67,938,680    63,455,148 64,011,515   60,134,776    56,825,348    47,587,866    27,175,705 33,098,356 20,426,082  17,916,735  
      net income attributable to brp group
    		         -13,914,500 -17,629,000 -23,897,000 -14,132,000               
      comprehensive income attributable to brp group
    		         -13,914,500 -17,629,000 -23,897,000 -14,132,000               
      net income attributable to brp group, inc.
    		             1,679,500 -24,793,000 8,642,000 22,869,000   -9,756,000 14,613,000    1,468,000   
      comprehensive income attributable to brp group, inc.
    		             1,679,500 -24,793,000 8,642,000 22,869,000   -9,756,000 14,613,000    1,468,000   
      other expense:
    		                           
      other expense
    		                 -383,750 -478,000 -1,057,000        
      income tax provision
    		                     3,000   12,000   
      net loss attributable to brp group, inc.
    		                 -22,670,000 -12,833,000   -10,308,000 -3,268,000 -3,588,000    
      comprehensive loss attributable to brp group, inc.
    		                 -22,670,000 -12,833,000   -10,308,000 -3,268,000 -3,588,000    
      basic and diluted net loss per share
    		                     -0.36 -0.1 -0.18    
      operating expenses
    		                         4,177,873.75 6,320,213 
      net income and comprehensive income
    		                         1,119,267.25 -2,305,576 
      less: net income and comprehensive income attributable to noncontrolling interests
    		                         968,294.5 1,420,204 
      net income and comprehensive income attributable to baldwin risk partners, llc and subsidiaries
    		                         150,972.75 -3,725,780 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 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 2019-09-30 
                                 
        assets
      		                           
        current assets:
      		                           
        cash and cash equivalents
      		146,409,000 123,669,000 89,723,000 105,695,000 81,781,000 148,120,000 181,759,000 208,334,000 112,113,000 116,209,000 78,965,000 105,546,000 81,299,000 118,090,000 158,600,000 183,402,000 156,811,000 138,292,000 374,450,000 224,479,000 90,544,000 108,462,000 50,220,000 194,378,000 52,125,000 67,689,000 11,106,139 
        fiduciary cash
      		309,712,000 223,228,000 236,221,000 278,007,000 217,280,000                       
        assumed premiums, commissions and fees receivable
      		447,619,000 342,136,000 346,466,000 349,639,000 331,342,000                       
        fiduciary receivables
      		669,960,000 497,035,000 416,083,000 491,423,000 408,000,000                       
        prepaid expenses and other current assets
      		20,778,000 13,650,000 17,702,000 14,945,000 17,417,000 11,625,000 13,454,000 14,050,000 14,909,000 12,730,000 12,370,000 11,654,000 13,199,000 9,823,000 12,318,000 13,533,000 14,226,000 8,151,000 5,843,000 5,156,000 4,643,000 4,447,000 2,689,000 3,205,000 3,287,000 3,019,000 5,663,632 
        total current assets
      		1,594,478,000 1,199,718,000 1,106,195,000 1,239,709,000 1,055,820,000 1,026,490,000 1,014,281,000 1,137,054,000 951,118,000 925,905,000 802,123,000 818,408,000 780,475,000 772,399,000 710,891,000 726,530,000 635,181,000 578,393,000 660,442,000 490,804,000 333,784,000 301,989,000 159,073,000 310,337,000 130,923,000 132,926,000 68,452,200 
        property and equipment
      		31,498,000 22,502,000 21,193,000 21,336,000 22,332,000 21,972,000 21,263,000 22,348,000 22,994,000 22,713,000 24,378,000 24,402,000 25,470,000 25,405,000 24,500,000 22,756,000 18,280,000 17,474,000 13,776,000 11,558,000 11,577,000 11,019,000 7,791,000 6,358,000 4,027,000 3,322,000 2,794,425 
        right-of-use assets
      		83,409,000 61,976,000 64,266,000 67,100,000 71,357,000 72,367,000 74,960,000 79,148,000 83,461,000 85,473,000 88,586,000 92,921,000 95,316,000 96,465,000 98,049,000 86,374,000 83,014,000 81,646,000          
        other assets
      		96,373,000 82,419,000 68,945,000 64,708,000 49,217,000 48,041,000 47,356,000 43,841,000 39,777,000 38,134,000 41,738,000 44,582,000 43,878,000 45,935,000 39,890,000 34,316,000 45,543,000 25,586,000 20,847,000 14,885,000 14,795,000 11,084,000 7,949,000 7,994,000 6,505,000 5,600,000  
        intangible assets
      		1,484,739,000 978,434,000 1,016,687,000 925,549,000 937,612,000 953,492,000 968,811,000 985,425,000 1,000,274,000 1,017,343,000 1,044,824,000 1,062,969,000 1,081,074,000 1,099,918,000 1,118,129,000 1,125,388,000 927,605,000 944,467,000 652,723,000 547,227,000 547,751,000 554,320,000 203,555,000 209,453,000 111,264,000 92,450,000 92,392,570 
        goodwill
      		2,652,131,000 1,517,171,000 1,516,488,000 1,420,583,000 1,412,369,000 1,412,369,000 1,412,369,000 1,412,369,000 1,412,369,000 1,412,369,000 1,421,849,000 1,421,849,000 1,422,060,000 1,422,060,000 1,420,929,000 1,415,281,000 1,232,399,000 1,228,741,000 885,321,000 671,826,000 669,126,000 651,502,000 344,396,000 335,526,000 197,531,000 164,470,000 170,815,670 
        total assets
      		5,942,628,000 3,862,220,000 3,793,774,000 3,738,985,000 3,548,707,000 3,534,731,000 3,539,040,000 3,680,185,000 3,509,993,000 3,501,937,000 3,423,498,000 3,465,131,000 3,448,273,000 3,462,182,000 3,412,388,000 3,410,645,000 2,942,022,000 2,876,307,000 2,233,109,000 1,736,300,000 1,577,033,000 1,529,914,000 722,764,000 869,668,000 450,250,000 398,768,000 346,199,126 
        liabilities, mezzanine equity and stockholders’ equity
      		                           
        current liabilities:
      		                           
        fiduciary liabilities
      		979,672,000 720,263,000 652,304,000 769,430,000 625,280,000                       
        commissions payable
      		93,438,000 50,933,000 68,682,000 71,963,000 87,463,000                       
        accrued expenses and other current liabilities
      		285,867,000 252,560,000 221,665,000 158,348,000 157,245,000 160,631,000 164,302,000 132,298,000 132,234,000 152,954,000 131,418,000 110,106,000 108,641,000 125,743,000 114,198,000 104,330,000 87,316,000 92,223,000 62,283,000 49,639,000 41,418,000 47,490,000 21,851,000 16,650,000 11,094,000 12,334,000  
        current portion of contingent earnout liabilities
      		115,468,000 9,004,000 17,062,000 6,759,000 45,473,000 142,949,000 201,281,000 203,870,000 229,529,000 215,157,000 97,620,000 116,228,000 118,569,000 46,717,000 41,645,000 43,615,000 20,897,000 35,088,000 43,975,000 90,160,000 27,467,000 6,094,000 7,065,000 4,212,000 2,788,000 2,480,000 2,646,695 
        total current liabilities
      		1,474,445,000 1,032,760,000 959,713,000 1,007,489,000 933,420,000 1,056,434,000 1,031,554,000 1,156,102,000 1,052,969,000 1,033,440,000 798,499,000 827,294,000 772,820,000 699,206,000 573,303,000 570,300,000 531,284,000 540,689,000 383,764,000 354,809,000 250,337,000 217,420,000 124,552,000 144,597,000 81,953,000 72,825,000 65,878,718 
        revolving line of credit
      		191,000,000 107,000,000 66,000,000 112,000,000     334,000,000 341,000,000 324,000,000 470,000,000 485,000,000 505,000,000 527,000,000 525,000,000  35,000,000          
        long-term debt, less current portion
      		2,153,414,000 1,566,122,000 1,567,563,000 1,494,712,000 1,495,908,000 1,398,054,000 1,399,010,000 1,400,444,000 966,962,000 968,183,000 969,711,000 807,666,000 808,765,000 809,862,000 810,973,000 812,080,000 813,172,000 814,614,000 477,341,000 477,985,000 380,826,000 381,382,000      
        contingent earnout liabilities, less current portion
      		219,916,000 14,289,000 11,330,000 9,972,000 2,761,000 2,610,000 2,509,000 6,373,000 6,336,000 61,310,000 175,657,000 178,084,000 167,588,000 220,219,000 187,969,000 166,381,000 206,950,000 223,501,000 136,970,000 88,092,000 137,816,000 158,725,000 78,323,000 74,323,000 51,067,000 46,289,000 32,497,049 
        operating lease liabilities, less current portion
      		74,578,000 57,651,000 60,917,000 64,382,000 68,162,000 68,775,000 69,235,000 73,598,000 77,830,000 78,999,000 81,510,000 84,584,000 86,739,000 87,692,000 88,749,000 76,999,000 72,622,000 71,357,000          
        tax receivable agreement liabilities
      		144,570,000                           
        deferred tax liabilities
      		4,650,000                           
        other liabilities
      		128,400,000  61,000 61,000 61,000 61,000 123,000 123,000 123,000 123,000 241,000 241,000 250,000 164,000 330,000  3,959,000 3,590,000 3,319,000 3,067,000 2,408,000 2,419,000 2,194,000 2,114,000 2,023,000 2,017,000  
        total liabilities
      		4,390,973,000 2,777,822,000 2,665,584,000 2,688,616,000 2,500,312,000 2,525,934,000 2,502,431,000 2,636,640,000 2,438,220,000 2,483,055,000 2,349,618,000 2,367,869,000 2,321,162,000 2,322,143,000 2,188,324,000 2,150,760,000 1,702,987,000 1,688,751,000 1,121,394,000 943,953,000 771,387,000 759,946,000 306,069,000 447,034,000 195,406,000 161,494,000 295,248,119 
        commitments and contingencies
      		                           
        mezzanine equity:
      		                           
        redeemable noncontrolling interest
      		537,000 519,000 510,000 445,000 371,000 453,000 375,000 286,000 455,000 394,000 333,000 495,000 538,000 487,000 424,000 350,000 288,000 269,000 223,000 173,000 125,000 98,000 101,000 71,000 39,000 23,000 82,607,652 
        stockholders’ equity:
      		                           
        class a common stock, par value 0.01 per share...
      		966,000 718,000 714,000 713,000 699,000 680,000 675,000 665,000 652,000 641,000 642,000 637,000 626,000 614,000 612,000 601,000 588,000 586,000 564,000 466,000 460,000 450,000 339,000 333,000 199,000 194,000  
        class b common stock, par value 0.0001...
      		5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 6,000 6,000 6,000 5,000 5,000 5,000 5,000 4,000 4,000 4,000 4,000  
        additional paid-in capital
      		1,235,101,000 844,236,000 837,293,000 830,735,000 816,418,000 793,954,000 785,931,000 773,109,000 762,609,000 746,671,000 742,553,000 732,673,000 716,645,000 704,291,000 699,415,000 683,331,000 671,143,000 663,002,000 608,291,000 404,025,000 398,885,000 392,139,000 237,644,000 235,520,000 90,443,000 82,425,000  
        accumulated deficit
      		-274,870,000 -245,236,000 -219,375,000 -200,648,000 -197,484,000 -211,423,000 -191,261,000 -182,884,000 -165,327,000 -186,905,000 -152,422,000 -134,793,000 -110,896,000 -96,764,000 -48,274,000 -23,481,000 -32,123,000 -54,992,000 -32,322,000 -19,489,000 -9,733,000 -24,346,000 -14,038,000 -10,770,000 -7,182,000  -206,042,198 
        accumulated other comprehensive income
      		2,738,000 492,000 1,050,000                         
        total stockholders’ equity attributable to baldwin
      		963,940,000 600,215,000 619,687,000 630,805,000 619,638,000 583,216,000 595,350,000 590,895,000 597,939,000                   
        noncontrolling interest
      		587,178,000 483,664,000 507,993,000 419,119,000 428,386,000 425,128,000 440,884,000 452,364,000 473,379,000 458,076,000 482,769,000 498,245,000 520,214,000 531,448,000 571,945,000 599,209,000 599,308,000 578,904,000 535,217,000 407,473,000 416,253,000 402,087,000 193,164,000 198,049,000 171,988,000 163,966,000 2,387,522 
        total stockholders’ equity
      		1,551,118,000 1,083,879,000 1,127,680,000 1,049,924,000 1,048,024,000 1,008,344,000 1,036,234,000 1,043,259,000 1,071,318,000 1,018,488,000 1,073,547,000 1,096,767,000 1,126,573,000 1,139,552,000 1,223,640,000 1,259,535,000 1,238,747,000 1,187,287,000 1,111,492,000 792,174,000 805,521,000 769,870,000 416,594,000 422,563,000 254,805,000   
        total liabilities, mezzanine equity and stockholders’ equity
      		5,942,628,000 3,862,220,000 3,793,774,000 3,738,985,000 3,548,707,000 3,534,731,000 3,539,040,000 3,680,185,000 3,509,993,000 3,501,937,000 3,423,498,000 3,465,131,000 3,448,273,000 3,462,182,000 3,412,388,000 3,410,645,000 2,942,022,000 2,876,307,000 2,233,109,000 1,736,300,000 1,577,033,000 1,529,914,000 722,764,000 869,668,000 450,250,000   
        related party notes payable
      		     5,635,000 5,635,000 5,635,000 5,691,000 1,525,000 1,525,000 1,525,000 1,525,000 1,525,000   61,500,000 61,500,000 61,500,000         
        colleague earnout incentives
      		   989,000 17,959,000 32,826,000                      
        restricted cash
      		     164,649,000 162,957,000 151,842,000 122,204,000 104,824,000 115,429,000 107,350,000 105,520,000 112,381,000 92,017,000 100,529,000 87,097,000 89,445,000 46,987,000 51,505,000 32,003,000 33,560,000 7,778,000 10,058,000 3,840,000 3,382,000 6,403,532 
        premiums, commissions and fees receivable
      		     702,096,000 656,111,000 762,828,000 701,892,000 627,791,000 595,359,000 593,858,000 580,343,000 531,992,000 446,112,000 427,351,000 375,290,000 340,837,000 233,162,000 209,664,000 206,594,000 155,501,000 98,345,000 102,575,000 71,637,000 58,793,000 45,234,625 
        assets held for sale
      		         64,351,000                  
        premiums payable to insurance companies
      		     641,267,000 589,157,000 740,585,000 599,828,000 555,569,000 502,081,000 534,887,000 481,131,000 471,294,000 356,671,000 366,217,000 309,257,000 310,045,000 175,486,000 177,578,000 143,586,000 135,576,000 83,617,000 110,512,000 58,390,000 50,541,000 42,889,326 
        producer commissions payable
      		     73,126,000 71,179,000 73,714,000 85,687,000 64,304,000 65,855,000 64,548,000 62,954,000 53,927,000 60,789,000 56,138,000 52,314,000 41,833,000 35,520,000 32,367,000 33,711,000 24,260,000 12,019,000 13,223,000 9,681,000 7,470,000 7,126,847 
        liabilities held for sale
      		         43,931,000                  
        stockholder notes receivable
      		            -21,000 -42,000 -63,000 -131,000 -175,000 -219,000 -263,000         
        total stockholders’ equity attributable to brp group
      		         560,412,000 590,778,000 598,522,000 606,359,000 608,104,000              
        due from related parties
      		            114,000 113,000 1,844,000 1,715,000 1,757,000 1,668,000    19,000 41,000 121,000 34,000 43,000 44,272 
        total stockholders’ equity attributable to brp group, inc.
      		              651,695,000 660,326,000 639,439,000 608,383,000 576,275,000 384,701,000 389,268,000 367,783,000 223,430,000 224,514,000 82,817,000   
        revolving lines of credit
      		                75,000,000  120,000,000 20,000,000   101,000,000 226,000,000 60,363,000 40,363,000 105,000,000 
        current portion of long-term debt
      		                  5,000,000 5,000,000 4,000,000 4,000,000      
        due to related parties
      		                   65,000 155,000       
        notes receivable from stockholders
      		                   -306,000 -349,000 -465,000 -519,000 -573,000 -647,000   
        liabilities, mezzanine equity and stockholders’/members’ equity
      		                           
        related party debt
      		                          88,425,293 
        redeemable members’ capital
      		                          172,238,469 
        stockholders’/members’ equity
      		                           
        retained earnings
      		                         -8,650,000  
        members’ deficit
      		                           
        notes receivable from stockholders/members
      		                         -688,000  
        total stockholders’ equity attributable to brp group, inc./ members’ equity
      		                         73,285,000  
        total stockholders’/members’ equity
      		                         237,251,000  
        total liabilities, mezzanine equity and stockholders’/members’ equity
      		                         398,768,000  
        deposits and other non-current assets
      		                          962,840 
        deferred financing costs
      		                          7,362,927 
        deferred commission expense
      		                          3,418,494 
        liabilities, mezzanine equity and members’ equity
      		                           
        accrued expenses
      		                          8,661,813 
        contract liabilities
      		                          4,349,299 
        other current liabilities
      		                          204,738 
        advisor incentive liabilities
      		                          3,085,578 
        other long-term liabilities
      		                          361,481 
        members’ equity
      		                           
        members’ capital
      		                           
        member note receivable
      		                          -240,438 
        total members’ equity
      		                          -203,895,114 
        total liabilities, mezzanine equity and members’ equity
      		                          346,199,126 
        assets of consolidated variable interest entities that can only be used to settle the obligations of consolidated variable interest entities:
      		                           
        deposits
      		                           
        liabilities of consolidated variable interest entities for which creditors do not have recourse to the company:
      		                           
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 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
        		-1,896,000   -5,141,000 24,898,000   -30,867,000 39,100,000  -32,006,000 -43,663,000 -25,854,000  -46,707,000 16,593,000 44,839,000   -20,104,000 30,614,000  -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
        		57,078,000 40,670,000 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
        		1,969,000 -2,490,000 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
        		12,818,000 19,341,000 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
        		-5,876,000 -694,000 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 0 1,111,000 -1,401,000 0 -1,809,000 -628,000 -36,516,000                  
          amortization of deferred financing costs
        		1,665,000 1,424,000 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 
          other operating activity
        		-1,160,000 229,000                         
          changes in operating assets and liabilities:
        		                          
          assumed premiums, commissions and fees receivable
        		-55,666,000 4,330,000 4,504,000 -6,107,000 -47,789,000                      
          prepaid expenses and other current assets
        		-6,627,000 -2,105,000 -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
        		8,811,000 3,960,000 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
        		2,423,000 -6,322,000 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
        		 0 -989,000 -16,970,000 -14,854,000                      
          operating lease liabilities
        		-4,739,000 -4,400,000 -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          
          deferred taxes
        		-14,873,000                          
          net cash from operating activities
        		-6,073,000 10,269,000 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:
        		                          
          cash consideration paid for business combinations, net of cash received
        		-452,377,000 0 -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 
          deferred payments for business combinations
        		-25,000,000                          
          capital expenditures
        		-12,664,000 -10,353,000 -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
        		-18,737,000 -84,000 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 
          investments in and loans for business ventures
        		-87,000  -700,000 -15,013,000 -620,000  -362,000 -152,000 -3,189,000                  
          proceeds from divestitures, net of cash transferred
        		 0 0 500,000 1,401,000 0 562,000 1,967,000 54,448,000                  
          cash consideration paid for asset acquisitions
        		-1,076,000 0 0 0 -460,000 0 0   0 -507,000 -111,000 -1,500,000              
          net cash from investing activities
        		-491,204,000 -10,699,000 -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
        		-17,509,000  -41,786,000 60,727,000 -5,444,000                      
          repurchase of common stock
        		-46,966,000                          
          proceeds from revolving line of credit
        		245,000,000 49,000,000 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
        		-161,000,000 -8,000,000 -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
        		600,000,000 0 1,006,121,000 0 935,800,000 0 0                    
          payments relating to extinguishment and modification of long-term debt
        		 0 -931,121,000 0 -835,800,000 0 0                    
          payments on long-term debt
        		-6,538,000 0 -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
        		-4,040,000 -72,000    0 -746,000                    
          payment of contingent earnout consideration up to amount of purchase price accrual
        		 -1,915,000 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          
          other financing activity
        		-2,446,000 -4,637,000 -6,000 -22,000 -488,000                      
          net cash from financing activities
        		606,501,000 21,383,000 -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
        		109,224,000 20,953,000 -57,758,000 84,641,000 -13,708,000                      
          cash and cash equivalents and fiduciary cash at beginning of period
        		346,897,000 0 0 0 312,769,000                      
          cash and cash equivalents and fiduciary cash at end of period
        		456,121,000 20,953,000 -57,758,000 84,641,000 299,061,000                      
          net loss
        		 -43,674,000    -34,839,000            -44,408,000         
          adjustments to reconcile net loss to net cash from operating activities:
        		                          
          loss on extinguishment of debt
        		 0    0 0                    
          changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
        		                          
          investments in and loans to business ventures
        		                          
          proceeds from repayment of loans to business ventures
        		                          
          change in fiduciary assets and liabilities
        		                          
          proceeds from the sale and settlement of interest rate caps
        		         3,025,000 2,953,000                
          tax distributions to baldwin holdings' llc members
        		                          
          proceeds from repayment of related party loans
        		      0 0 1,500,000                  
          tax distributions to baldwin holdings llc members
        		      0 -10,978,000 -98,000                  
          loss on interest rate caps
        		   0 18,000 0 84,000 134,000 26,000 1,181,000   1,407,000 -800,000             
          other loss
        		   40,000 708,000 319,000 0 350,000 -4,000 -436,000 567,000 130,000 100,000              
          proceeds from the settlement of interest rate caps
        		      0 0 2,300,000                  
          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             
          purchase of interest rate caps
        		                 0 -3,000,000 0 -3,461,000      
          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    
          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
        		                          
          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