v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUE:        
Earned premium, net $ 251,956 $ 177,785 $ 491,598 $ 347,140
Marketplace revenue 39,658 26,886 65,310 55,972
Net investment income 11,003 9,416 21,266 18,474
Net investment gains 7,179 1,194 4,890 879
Total revenue 354,822 379,309 666,652 707,645
EXPENSES:        
Losses and loss adjustment expenses, net 110,709 75,213 208,628 146,343
Policy acquisition costs, net 83,641 82,938 185,563 160,271
Underwriting and other insurance expenses 62,947 1,222 122,535 2,579
Selling, general, and administrative expenses 95,265 161,627 167,681 305,672
Interest expense and other, net 28 4,946 950 6,635
Total expenses 352,590 325,946 685,357 621,500
INCOME (LOSS) BEFORE TAXES 2,232 53,363 (18,705) 86,145
Income tax (expense) benefit 5,809 (6,161) 14,001 (11,650)
NET INCOME (LOSS) 8,041 47,202 (4,704) 74,495
Net (income) loss attributable to non-controlling interest (7,761) (36,229) 493 (55,151)
Accretion of Series A Convertible Preferred Stock (1,948) (1,875) (3,978) (3,750)
NET INCOME (LOSS) ATTRIBUTABLE TO CLASS A COMMON STOCKHOLDERS (1,668) 9,098 (8,189) 15,594
Class A Common Stock        
EXPENSES:        
NET INCOME (LOSS)     (4,704) 74,495
Net (income) loss attributable to non-controlling interest (7,761) (36,229) 493 (55,151)
Accretion of Series A Convertible Preferred Stock $ (1,948) $ (1,875) $ (3,978) $ (3,750)
Earnings (loss) per share of Class A Common Stock:        
Basic (in dollars per share) $ (0.02) $ 0.09 $ (0.08) $ 0.16
Diluted (in dollars per share) $ (0.02) $ 0.09 $ (0.08) $ 0.16
Weighted average shares of Class A Common Stock outstanding:        
Basic (in shares) 101,797 90,698 101,418 90,374
Diluted (in shares) 101,797 90,698 101,418 91,247
Total commission and fee revenue        
REVENUE:        
Revenue from contract with customer, including finance revenue, excluding assessed tax $ 23,665 $ 143,287 $ 40,100 $ 243,574
Membership and other revenue        
REVENUE:        
Revenue from contract with customer, including finance revenue, excluding assessed tax $ 21,361 $ 20,741 $ 43,488 $ 41,606