secwatch.observer — SEC 8-K summary
======================================

Issuer:     CITIZENS, INC. (CIA)
CIK:        0000024090
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0000024090-24-000142
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Citizens Q2 net income $4.0M ($0.08/share) on 6% revenue growth; insurance issued record $295.2M
--------------------------------------------------------------------------------

- Revenue $62.1M (+6% YoY); net income $4.0M ($0.08 EPS) vs $6.1M ($0.12) in Q2 2023.
- Insurance issued record $295.2M (+86% YoY); direct first year premiums up 85% for seventh consecutive quarter.
- Adjusted income before tax $7.1M (vs $6.4M); GAAP income before tax $3.3M due to $3.5M legal fee accrual in trade secret lawsuit.
- Cash $26.3M, no debt; book value per Class A share $3.85 (+30% YoY).
- Producing agents up 45% since Dec 2023; management expects sales growth in 2024 leading to profit growth in 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/24090/000002409024000142/0000024090-24-000142-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/24090/000002409024000142/cia-20240806.htm
  HTML page:      https://secwatch.observer/filing/0000024090-24-000142

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer