# The Baldwin Group Revenue Rises 31% as Q3 Net Loss Widens

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/42253
Published: 2026-10-28T02:13:30.000Z
Updated: 2026-10-28T02:13:30.000Z
Section: Business

> Preliminary results also showed higher adjusted EBITDA and organic revenue growth. The figures are unaudited and may differ from final results.

The Baldwin Group, the brand name for The Baldwin Insurance Group Inc., announced preliminary third-quarter revenue of $480.3 million, up 31% from a year earlier, as its net loss widened to $81.6 million.

Revenue for the quarter ended Sept. 30, 2026, compared with $365.4 million in the year-earlier period. The net loss increased from $30.2 million.

Adjusted EBITDA, a non-GAAP measure, rose 47% to $106.9 million from $72.5 million. Its margin was 22.2%, compared with 19.8%. Organic revenue growth, also a non-GAAP measure, was 6%, up from 5% a year earlier.

Net cash from operating activities totaled $54.2 million, compared with $41 million. Adjusted free cash flow, a non-GAAP measure, increased 33% to $55.6 million from $41.8 million.

At Sept. 30, the company had $188.6 million in cash and cash equivalents, $289.1 million in available borrowing capacity under its revolving credit facility and $2.465 billion in total debt.

The results are estimates, unaudited and based on a financial close that was still underway. The company warned that actual results could differ materially; final results are expected with its Form 10-Q.