The Baldwin Group announced its fourth quarter and full year results for 2024 on February 25, 2025, showcasing significant momentum across its business. For Q4 2024, total revenue grew by 16%, with organic revenue growth reaching 19%.
The company reported a net loss of $34.8 million for Q4 2024, but adjusted diluted EPS grew by 93% to $0.27. Adjusted EBITDA for the quarter increased by 38% year-over-year to $63.2 million, with the adjusted EBITDA margin expanding by 310 basis points to 19%.
For the full year 2024, total revenue grew by 14%, and organic revenue growth was 17%. The adjusted EBITDA margin expanded by 200 basis points to 22.5%, and adjusted free cash flow grew by 97%.
A key financial milestone was the satisfaction of the vast majority of earn-out obligations, which management anticipates will lead to a meaningful inflection in free cash flow generation and significant growth and flexibility in capital allocation. As of December 31, 2024, cash and cash equivalents stood at $148.1 million, with $588.0 million of borrowing capacity available under its revolving credit facility.
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