| Schedule of Fair Value Measurements of Liabilities Measured at Fair Value on Recurring Basis |
The following tables summarize the fair value measurements of assets and liabilities that are measured at fair value on a recurring basis. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurement as of June 30, 2026 | | | Level 1 | | Level 2 | | Level 3 | | Total
Fair Value | | Assets | | | | | | | | | | Money market mutual funds | | $ | 109 | | | $ | — | | | $ | — | | | $ | 109 | | | Debt securities: | | | | | | | | | | U.S. Treasuries | | — | | | 3,949 | | | — | | | 3,949 | | | Obligations of states, municipalities and political subdivisions | | — | | | 2,263 | | | — | | | 2,263 | | | Corporate bonds | | — | | | 37,544 | | | — | | | 37,544 | | | Residential and commercial mortgage-backed securities | | — | | | 21,366 | | | — | | | 21,366 | | | Other loan-backed and structured securities | | — | | | — | | | — | | | — | | | Assets of Reciprocal (a consolidated variable interest entity): | | | | | | | | | | Money market mutual funds | | 43,895 | | | — | | | — | | | 43,895 | | | Debt securities: | | | | | | | | | | U.S. Treasuries | | — | | | 7,157 | | | — | | | 7,157 | | | Obligations of states, municipalities and political subdivisions | | — | | | 28,795 | | | — | | | 28,795 | | | Corporate bonds | | — | | | 66,244 | | | — | | | 66,244 | | | Residential and commercial mortgage-backed securities | | — | | | 75,985 | | | — | | | 75,985 | | | Other loan-backed and structured securities | | — | | | 18,907 | | | — | | | 18,907 | | | | $ | 44,004 | | | $ | 262,210 | | | $ | — | | | $ | 306,214 | | | Liabilities | | | | | | | | | | Contingent consideration - business combinations | (1) | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | | | | | | | | | | Embedded derivatives | (2) | | — | | | — | | | — | | | — | | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
______________________________________ (1)We have contingent consideration arrangements related to business combinations. The fair value of the related contingent consideration liability was zero as of June 30, 2026. (2)We have embedded derivatives features associated with our convertible senior secured notes due in 2028. The fair value of the related derivative liability was zero as of June 30, 2026. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurement as of December 31, 2025 | | | Level 1 | | Level 2 | | Level 3 | | Total
Fair Value | | Assets | | | | | | | | | | Money market mutual funds | | $ | 7 | | | $ | — | | | $ | — | | | $ | 7 | | | Debt securities: | | | | | | | | | | U.S. Treasuries | | 13,370 | | | — | | | — | | | 13,370 | | | Obligations of states, municipalities and political subdivisions | | — | | | 2,070 | | | — | | | 2,070 | | | Corporate bonds | | — | | | 31,279 | | | — | | | 31,279 | | | Residential and commercial mortgage-backed securities | | — | | | 21,309 | | | — | | | 21,309 | | | Other loan-backed and structured securities | | — | | | — | | | — | | | — | | | Assets of Reciprocal (a consolidated variable interest entity): | | | | | | | | | | Money market mutual funds | | 25,047 | | | — | | | — | | | 25,047 | | | Debt securities: | | | | | | | | — | | | U.S. Treasuries | | 9,633 | | | — | | | — | | | 9,633 | | | Obligations of states, municipalities and political subdivisions | | — | | | 12,394 | | | — | | | 12,394 | | | Corporate bonds | | — | | | 63,109 | | | — | | | 63,109 | | | Residential and commercial mortgage-backed securities | | — | | | 77,968 | | | — | | | 77,968 | | | Other loan-backed and structured securities | | — | | | 17,538 | | | — | | | 17,538 | | | | $ | 48,057 | | | $ | 225,667 | | | $ | — | | | $ | 273,724 | | | Liabilities | | | | | | | | | | Contingent consideration - business combinations | (1) | | $ | — | | | $ | — | | | $ | 39 | | | $ | 39 | | | | | | | | | | | | Embedded derivatives | (2) | | — | | | — | | | 2,627 | | | 2,627 | | | | $ | — | | | $ | — | | | $ | 2,666 | | | $ | 2,666 | |
______________________________________ (1)The liability for contingent considerations related to business combinations is included in accrued expenses and other current liabilities in the unaudited Condensed Consolidated Balance Sheets as of December 31, 2025. See Contingent Consideration – Business Combinations below for additional information. (2)The embedded derivatives liability is included in other liabilities in the unaudited Condensed Consolidated Balance Sheets as of December 31, 2025. See Embedded Derivatives below for additional information.
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| Schedule of Level 3 Items Measured at Fair Value on a Recurring Basis |
The changes for Level 3 items measured at fair value on a recurring basis using significant unobservable inputs are as follows: | | | | | | | | | | | | | | | | | | | Contingent Consideration - Business Combinations | | Embedded Derivatives | | | | Fair value as of December 31, 2025 | | $ | 39 | | | $ | 2,627 | | | | | | | | | | | | | | | | | | | Change in fair value, loss (gain) included in net loss | (1) | | (39) | | | (2,627) | | | | | Fair value as of June 30, 2026 | | $ | — | | | $ | — | | | |
| | | | | | | | | | | | | | | | | | | | | | | Contingent Consideration - Business Combinations | | Embedded Derivatives | | Private Warrant Liability | | Fair value as of December 31, 2024 | | $ | 83 | | | $ | 22,262 | | | $ | 460 | | | | | | | | | | | | | | | | | Change in fair value, loss (gain) included in net income | (1) | | (28) | | | (19,526) | | | 3,610 | | | Fair value as of June 30, 2025 | | $ | 55 | | | $ | 2,736 | | | $ | 4,070 | |
______________________________________ (1)Changes in fair value of contingent consideration related to business combinations are included in general and administrative expenses in the unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) operations. Changes in fair value of the private warrant liability and embedded derivatives are disclosed separately in the unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).
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