
	Contract Assets
	Profit Share		Program Fees		Claims Administration and Other Service Fees		Total

	(in thousands)
Ending balance as of December 31, 2024	$	9,633	$	3,229	$	2,205	$	15,067
Increase of contract assets due to new business generation	15,347		30,146		4,873		50,366
Change in estimates of revenue from performance obligations satisfied in previous periods	(296)		—		—		(296)
Payables (receivables) transferred from contract assets	25		(30,335)		—		(30,310)
Payments received from insurance carriers	(2,419)		—		(5,364)		(7,783)
Profit share realization of losses reducing payments received (1)	(5,828)		—		—		(5,828)
Transfer from excess profit share receipts liability	8,296		—		—		8,296
Provision for expected credit losses	(64)		—		—		(64)
Ending balance as of June 30, 2025	$	24,694	$	3,040	$	1,714	$	29,448

(1) Represents the deemed gross payment that would have been received for historic vintages in a contract asset position if not reduced by the realization of accrued losses on historic vintages in an excess profit share receipts liability position. The $5.8 million of realization of losses reduced the contract assets as payment will not be received and reduced the excess profit share receipts liability as discussed below.


	Profit Share

	(in thousands)
Ending balance as of December 31, 2024	$	47,556
Change in estimates of revenue from performance obligations satisfied in previous periods	352
Realization of losses reducing payments received, net of payments received from insurance carriers (1)	(5,828)
Transfer from contract asset	8,296
Ending balance as of June 30, 2025	$	50,376

(1) Represents the realization of losses on historic vintages which reduced the profit share payment received from insurance carriers. Amount is shown net of any payments received from insurance carriers related to historic vintages in an excess profit share liability position.