v3.26.1
Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue

The following table presents U.S. Property & Casualty revenues before reimbursements disaggregated by service line for the three and six months ended June 30, 2026 and 2025:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

June 30,
2026

 

 

June 30,
2025

 

 

June 30,
2026

 

 

June 30,
2025

 

Global Technical Services

 

$

26,770

 

 

$

26,481

 

 

$

53,339

 

 

$

53,257

 

Claims Solutions

 

 

28,620

 

 

 

28,324

 

 

 

57,248

 

 

 

59,512

 

Contractor Connection

 

 

16,155

 

 

 

18,480

 

 

 

31,096

 

 

 

35,381

 

Catastrophe Services

 

 

2,520

 

 

 

9,215

 

 

 

5,267

 

 

 

16,540

 

Total U.S. Property & Casualty Revenues before Reimbursements

 

$

74,065

 

 

$

82,500

 

 

$

146,950

 

 

$

164,690

 

 

In addition to adjusting services, the Company also performs Legal Services within its International Operations segment. Revenue is recognized over time as the performance obligations are satisfied through the effort expended to research, investigate, evaluate, document, and report the claim and control of these services is transferred to the customer.

The following table presents International Operations revenues before reimbursements disaggregated by geography and service line for the three and six months ended June 30, 2026 and 2025:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

June 30,
2026

 

 

June 30,
2025

 

 

June 30,
2026

 

 

June 30,
2025

 

U.K.

 

$

42,391

 

 

$

41,954

 

 

$

83,678

 

 

$

83,763

 

Europe

 

 

29,676

 

 

 

27,369

 

 

 

56,955

 

 

 

53,553

 

Australia

 

 

25,384

 

 

 

19,792

 

 

 

46,129

 

 

 

36,370

 

Canada

 

 

23,737

 

 

 

23,269

 

 

 

47,469

 

 

 

45,045

 

Asia

 

 

8,252

 

 

 

7,236

 

 

 

17,373

 

 

 

13,403

 

Latin America

 

 

7,613

 

 

 

7,694

 

 

 

14,744

 

 

 

15,706

 

International Loss Adjusting

 

$

137,053

 

 

$

127,314

 

 

$

266,348

 

 

$

247,840

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.K.

 

$

630

 

 

$

2,368

 

 

$

2,506

 

 

$

4,901

 

Australia

 

 

 

 

 

1,815

 

 

 

 

 

 

4,285

 

Latin America

 

 

268

 

 

 

842

 

 

 

979

 

 

 

1,483

 

Crawford Legal Services

 

$

898

 

 

$

5,025

 

 

$

3,485

 

 

$

10,669

 

Total International Operations Revenues before Reimbursements

 

$

137,951

 

 

$

132,339

 

 

$

269,833

 

 

$

258,509

 

The following table presents Broadspire revenues before reimbursements disaggregated by service line for the three and six months ended June 30, 2026 and 2025:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

June 30,
2026

 

 

June 30,
2025

 

 

June 30,
2026

 

 

June 30,
2025

 

Claims Management

 

$

52,967

 

 

$

51,991

 

 

$

103,371

 

 

$

101,645

 

Medical Management

 

 

49,465

 

 

 

48,626

 

 

 

96,844

 

 

 

95,356

 

Subrogation

 

 

6,991

 

 

 

7,541

 

 

 

13,966

 

 

 

14,829

 

Total Broadspire Revenues before Reimbursements

 

$

109,423

 

 

$

108,158

 

 

$

214,181

 

 

$

211,830

 

Schedule of Customer Contract Liabilities

The table below presents the deferred revenues balance as of January 1, 2026 and the significant activity affecting deferred revenues during the three months and six months ended June 30, 2026:

 

(In Thousands)

 

 

 

Customer Contract Liabilities

 

Deferred
Revenues

 

Balance as of January 1, 2026

 

$

57,093

 

Quarterly additions

 

 

26,030

 

Revenue recognized from the prior periods

 

 

(14,983

)

Revenue recognized from current quarter additions

 

 

(10,343

)

Balance as of March 31, 2026

 

$

57,797

 

Quarterly additions

 

 

29,941

 

Revenue recognized from the prior periods

 

 

(16,841

)

Revenue recognized from current quarter additions

 

 

(11,254

)

Balance as of June 30, 2026

 

$

59,643