v3.25.2
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Allocation of Purchase Price to the Estimated Fair Values of Net Assets Acquired
The following table summarizes the individual elements within the calculation of total consideration transferred (in millions):

Amount
Cash Consideration$153.0 
Share Consideration250.1 
Total consideration transferred
$403.1 

The following table summarizes the preliminary allocation of the purchase price to the estimated fair values of the net assets acquired by the Company as of the acquisition date (in millions):

Amount
Cash and cash equivalents$3.5 
Accounts receivable14.6 
Other current assets5.5 
Property and equipment11.9 
Operating lease right-of-use assets20.2 
Other non-current assets8.1 
Goodwill230.0 
Intangible assets164.1 
Total assets457.9 
Accounts payable(2.0)
Commissions payable(6.3)
Accrued expenses and other current liabilities(21.7)
Current lease liabilities(4.9)
Non-current lease liabilities(15.4)
Other non-current liabilities(4.5)
Total liabilities(54.8)
Net assets$403.1 
Schedule of Fair Value of Identified Intangible Assets And Useful Lives at the Time of Acquisition
The fair value of identified intangible assets and their respective useful lives as at the time of acquisition were as follows (in millions):
Amount
Useful Life
(in years)
Trademarks$20.3 
2 - 6 years
Acquired technology29.2 2 years
Agent networks72.3 7 years
Affiliate network42.3 6 years
Total intangible assets$164.1 
Schedule of Pro Forma Information
The acquired entity’s results have been included in the Company’s consolidated financial statements from the Acquisition date onward. The first column in the table below reflects the acquired entity’s actual results post-acquisition, while the second and third columns present the Company’s pro forma results as if the Acquisition had occurred on January 1, 2024 (in millions):
ActualsPro Forma
January 13, 2025 through
June 30, 2025		Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Revenue$274.2 $3,424.0 $3,001.9 
Net income (loss)10.0 (17.0)(117.9)
Schedule of Changes in Contingent Consideration Measured at Fair Value on a Recurring Basis Changes in contingent consideration measured at fair value on a recurring basis were as follows (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Opening balance$36.2 $19.5 $31.0 $20.9 
Acquisitions— 7.4 4.8 7.4 
Payments(3.3)(0.4)(3.5)(2.3)
Changes in fair value included in net income (loss)(2.1)0.4 (1.5)0.9 
Closing balance$30.8 $26.9 $30.8 $26.9