Tiptree reports Q1 2022 net loss of $960K; adjusted net income up to $15.5M

TIPTREE INC.

2022-Q1 EPS reported -$0.03 revenue$324,903,000

Total revenues $324.9M, up 10% from $294.7M in Q1 2021.
Net loss attributable to common stockholders $960K ($0.03 diluted EPS) vs net income $28.6M ($0.81 EPS) a year ago.
Adjusted net income $15.5M, up from $13.2M; adjusted ROE 15.8% vs 13.7%.
Declared quarterly cash dividend $0.04/share, payable May 31, record date May 23.
Book value per share $10.51, down from $11.63 in Q1 2021.

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