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Goodwill and Acquired Intangible Assets
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Acquired Intangible Assets

3. Goodwill and Acquired Intangible Assets

Goodwill is not amortized, but instead is reviewed for impairment at least annually or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. The Company considers its business to be one reporting unit for purposes of performing its goodwill impairment analysis. To date, the Company has had no impairments to goodwill. There were no changes to goodwill for the three and six months ended June 30, 2026.

Acquired intangible assets consisted of customer relationships and developed technology related to the Company’s acquisition of Policy Fuel, LLC and its affiliated entities, Kanopy Insurance Center, LLC, One Eight Software, Inc., and Parachute Insurance Services Corp., collectively referred to as “PolicyFuel,” which assets were sold as part of the settlement of litigation with the former owners of PolicyFuel on May 1, 2025. Amortization expense for intangible assets (prior to their sale) was $0.1 million and $0.4 million for the three and six months ended June 30, 2025, respectively.

The Company recorded legal settlement expense of $0.3 million and $8.2 million for the three and six months ended June 30, 2025, respectively, related to the settlement of litigation. The litigation accrual was settled on May 1, 2025 by the derecognition of the assets sold, consisting of commissions receivables and intangible assets, including customer relationships and developed technology, net of cash received of $0.5 million.