v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
Note 4. Revenue
Disaggregation of Revenue
The following table provides detail of total revenue. Transactional revenue consists of revenue recognized from non-recurring sales or services that do not generate ongoing revenue and primarily includes revenue generated from moving services. Recurring revenue refers to revenue streams that are more predictable and generate revenue from customers on an ongoing basis, including revenue from insurance services management, inspection software, title insurance software, mortgage software, warranty products, and marketing services. Insurance carrier revenue consists of revenue earned through premiums collected on policies, policy fees, and commissions by the Reciprocal.
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Transactional$9,792 $9,174 $16,136 $15,562 
Recurring(1)124,350 99,879 229,750 180,017 
Intercompany revenue(2,330)(2,035)(4,636)(4,015)
131,812 107,018 241,250 191,564 
Insurance carrier59,624 55,409 110,907 95,347 
Intercompany revenue(50,554)(36,350)(90,152)(56,089)
Total revenue
(2)
$
140,882 
$
126,077 
$
262,005 
$
230,822 
______________________________________
(1)Revenue recognized during the three and six months ended June 30, 2026 and 2025, includes revenue that is accounted for in accordance with ASC Topic 460, Guarantees, separately from revenue from contracts with customers. Revenue accounted for under ASC Topic 460 was $8.3 million and $8.3 million for the three months ended June 30, 2026 and 2025, respectively, and $17.0 million and $16.6 million for the six months ended June 30, 2026 and 2025, respectively.
(2)Revenue recognized during the three and six months ended June 30, 2026 and 2025, includes revenue that is accounted for in accordance with ASC Topic 944, Financial Services-Insurance, separately from the revenue from contracts with customers. Revenue accounted for under ASC Topic 944 was $92.0 million and $79.7 million for the three months ended June 30, 2026 and 2025, respectively, and $170.0 million and $145.3 million for the six months ended June 30, 2026 and 2025, respectively.

Disclosures Related to Contracts with Customers
Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to contracts with customers. Liabilities are recorded for amounts that are collected in advance of the satisfaction of performance obligations. To the extent a contract exists, as defined by ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), these liabilities are classified as deferred revenue. To the extent that a contract does not exist, as defined by ASC 606, these liabilities are classified as refundable customer deposits.
Insurance Commissions Receivable
A summary of the activity impacting the contract assets during the six months ended June 30, 2026, is presented below:
Balance at December 31, 2025
$
3,117 
Estimated lifetime value of commissions on insurance policies sold by carriers
1,060 
Cash receipts
(364)
Write offs of uncollectible accounts
(315)
Balance at June 30, 2026
$
3,498 

As of June 30, 2026, and December 31, 2025, $0.7 million and $0.6 million, respectively, of contract assets were expected to be collected within the immediately following 12 months and therefore were included in accounts receivable, net, on the unaudited Condensed Consolidated Balance Sheets. The remaining $2.8 million and $2.5 million of contract assets as of June 30, 2026, and December 31, 2025, respectively, are expected to be collected after the immediately following 12 months and were included in other assets on the unaudited Condensed Consolidated Balance Sheets.
Deferred Revenue
A summary of the activity impacting Software & Data segment deferred revenue balances during the six months ended June 30, 2026, is presented below:
Balance at December 31, 2025
$
2,699 
Revenue recognized
(6,165)
Additional amounts deferred
5,360 
Balance at June 30, 2026
$
1,894 
Revenue recognized for performance obligations satisfied during the six months ended June 30, 2026, includes $2.7 million that was included in the deferred revenue balances as of December 31, 2025.
Deferred revenue on the unaudited Condensed Consolidated Balance Sheets as of June 30, 2026, and December 31, 2025, includes $227.2 million and $219.6 million, respectively, of deferred revenue related to the Reciprocal Segment. The portion of insurance premiums related to the unexpired term of policies in force as of the end of the reporting period and to be earned over the remaining term of these policies is deferred and reported as deferred revenue.
Remaining Performance Obligations
The amount of the transaction price allocated to performance obligations to be satisfied at a later date, which is not recorded in the unaudited Condensed Consolidated Balance Sheets, is immaterial as of June 30, 2026, and December 31, 2025.
We have applied the practical expedients not to present unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which we recognize revenue at the amount which it has the right to invoice for services performed.
Warranty Revenue and Related Balance Sheet Disclosures
We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. As of June 30, 2026, and December 31, 2025, we had $0.2 million and $0.2 million, respectively, of capitalized costs in prepaid expenses and other current assets. As of June 30, 2026, and December 31, 2025, we had $0.2 million and $0.5 million, respectively, in other assets on the unaudited Condensed Consolidated Balance Sheets.
Payments received in advance of warranty services provided are included in refundable customer deposits or deferred revenue based upon the cancellation and refund provisions within the respective agreement. The following table provides balances as of the dates shown.
June 30, 2026
December 31, 2025
Refundable customer deposits
$
10,648 
$
12,379 
Deferred revenue
$
2,367 
$
1,853 
Non-current deferred revenue
(1)
$
1,798 
$
2,010 
____________________________________
(1)Non-current deferred revenue is included in other liabilities in the unaudited Condensed Consolidated Balance Sheets.

For the three months ended June 30, 2026 and 2025, we incurred $0.8 million and $0.9 million, respectively, in expenses related to warranty claims. For the six months ended June 30, 2026 and 2025, we incurred $1.3 million and $2.0 million, respectively, in expenses related to warranty claims.