v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ (12,214) $ 11,983
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation and amortization 15,603 11,411
Provision for doubtful accounts 2,688 2,768
Gain on extinguishment of debt 0 (34)
Change in fair value of private warrant liability 0 3,610
Change in fair value of derivatives (2,627) (19,526)
Stock-based compensation 15,145 12,910
Non-cash interest expense 21,509 17,515
Other operating activities (1,995) (829)
Change in operating assets and liabilities, net of acquisitions and divestitures    
Accounts receivable (7,770) (2,039)
Reinsurance balance due 29,600 46,760
Deferred policy acquisition costs (10,023) 7,939
Prepaid expenses and other current assets (5,523) (14,397)
Accounts payable (1,130) (336)
Accrued expenses and other current liabilities (17,680) (4,440)
Losses and loss adjustment expense reserves 11,949 283
Other insurance liabilities, current 7,721 (9,182)
Deferred revenue 7,173 (40,230)
Refundable customer deposits (1,681) 869
Other assets and liabilities, net 3,544 (644)
Net cash provided by operating activities 54,289 24,391
Cash flows from investing activities:    
Purchases of property and equipment (548) (271)
Capitalized internal use software development costs (8,320) (6,756)
Purchases of short-term and long-term investments (62,788) (75,423)
Maturities, sales of short-term and long-term investments 45,941 57,181
Net cash used in investing activities (25,715) (25,269)
Cash flows from financing activities:    
Proceeds from issuance of debt 0 51,000
Repayments of principal 0 (55,858)
Cash paid for debt issuance costs 0 (2,206)
Repurchase of stock (2,511) 0
Other financing activities 430 (947)
Net cash used in financing activities (2,081) (8,011)
Net change in cash, cash equivalents, and restricted cash and cash equivalents 26,493 (8,889)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 169,111 196,782
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 195,604 187,893
Supplemental schedule of non-cash investing and financing activities    
Non-cash reduction of convertible notes, net 0 14,514
Non-cash additions of internally developed software 671 0
Supplemental disclosures    
Cash paid for interest 17,328 12,021
Income taxes paid $ 13,249 $ 349