v3.25.2
SHARE-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Warrants
The following table provides other key terms of the warrants:
WarrantsExercise PriceShares Issued
(in millions)		Unrecognized Compensation Costs
(in millions)		Vesting Condition
Short-Term
Tranche 1$180.00 2.4 $— Completing the Integrated Platform
Tranche 2$198.00 3.2 — 50,000 policy originations
Tranche 3$216.00 1.6 — 75,000 policy originations
Total Short-Term7.2 $— 
Long-Term
Tranche 1$180.00 1.4 $11.0 100,000 policy originations
Tranche 2$225.00 1.5 9.4 200,000 policy originations
Tranche 3$270.00 1.5 6.6 300,000 policy originations
Tranche 4$405.00 1.5 2.4 400,000 policy originations
Tranche 5$540.00 1.3 1.0 500,000 policy originations
Total Long-Term7.2 $30.4 
Schedule of Share-Based Compensation Expense
The following table displays share-based compensation expense recorded in the condensed consolidated statements of operations and comprehensive income (loss):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(dollars in millions)
Share-based compensation expense:
Loss and loss adjustment expenses$0.8 $0.4 $1.4 $0.8 
Sales and marketing0.3 0.2 0.5 0.3 
Other insurance expense0.2 0.1 0.5 0.3 
Technology and development1.5 0.7 2.8 1.5 
General and administrative5.6 2.4 9.6 5.5 
Total share-based compensation expense$8.4 $3.8 $14.8 $8.4 
Schedule of Restricted Stock and Stock Options
The unrecognized compensation cost and the remaining weighted-average period over which these costs are expected to be recognized for restricted stock units and unvested stock options as of June 30, 2025 is as follows:
Service-based Restricted Stock Units
Performance-based Restricted Stock Units
Market-based Restricted Stock Units
Unvested Stock Options
(dollars in millions)
Unrecognized compensation costs
$27.2 $33.1 $0.6 $0.3 
Remaining weighted-average period cost is expected to be recognized (in years)
1.63.01.71.3
Schedule of RSU Activity
A summary of restricted stock units activity for the six months ended June 30, 2025 is as follows:

Six Months Ended June 30, 2025
Service-based Restricted Stock Units
Performance-based Restricted Stock Units
Market-based Restricted Stock Units
Restricted Stock Units
Number of SharesWeighted-Average
Grant Date Fair
Value per Share		Number of SharesWeighted-Average
Grant Date Fair
Value per Share		Number of SharesWeighted-Average
Grant Date Fair
Value per Share
(in millions, except per share amounts)
Unvested at January 1, 2025
1.0 $25.89 0.2 $75.55 0.4 $5.71 
Granted0.1 125.63 0.2 125.91 — — 
Vested(0.4)21.70 — — (0.1)6.70 
Forfeited, expired or canceled— 52.34 — — — — 
Unvested at June 30, 2025
0.7 $45.56 0.4 $93.78 0.3 $5.43 
Schedule of Restricted Stock Unit Activity
Additional information pertaining to restricted stock units for the six months ended June 30, 2025 and 2024 is as follows:
Six Months Ended June 30,
20252024
(dollars in millions)
Service-based restricted stock units:
Total grant date fair value of awards granted
$17.3 $7.3 
Total grant date fair value of awards vested
8.3 9.3 
Total intrinsic value of awards vested
44.6 29.7 
Performance-based restricted stock units:
Total grant date fair value of awards granted
$17.3 $— 
Market-based restricted stock units:
Total grant date fair value of awards vested
$0.5 $0.3 
Total intrinsic value of awards vested
10.1 2.4 
Schedule of Option Activity
A summary of option activity for the six months ended June 30, 2025 is as follows:
Six Months Ended June 30, 2025
OptionsNumber of SharesWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in Years)Aggregate Intrinsic Value
(in millions, except exercise price and term amounts)
Outstanding and exercisable at January 1, 2025
0.1 $34.13 3.15$6.7 
Granted— — 
Exercised— 13.09 3.2 
Forfeited, expired or canceled— 45.53 
Outstanding and exercisable at June 30, 2025
0.1 $34.80 2.78$10.0