v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Investments, at fair value:    
Fixed maturities, available-for-sale $ 238,403 $ 253,152
Equity securities 57,049 61,685
Other investments 37,347 40,053
Total investments 332,799 354,890
Cash and cash equivalents 218,943 198,762
Restricted cash 98,280 94,092
Total cash, cash equivalents and restricted cash 317,223 292,854
Accrued investment income 3,441 3,156
Property and equipment, net 869 723
Premiums receivable, net 119,915 70,447
Reinsurance recoverable on paid and unpaid losses, net 117,435 128,205
Ceded uneared premiums 224,760 109,697
Goodwill 59,476 59,476
Deferred policy acquisition costs, net 54,693 37,815
Intangible assets, net 2,203 3,471
Other assets 10,980 11,998
Total Assets 1,243,794 1,072,732
Liabilities    
Unpaid losses and loss adjustment expenses 118,920 165,701
Unearned premiums 335,452 249,616
Reinsurance payable on premiums 203,882 66,841
Accounts payable and accrued expenses 79,719 112,781
Operating lease liability 3,024 3,135
Notes payable, net 149,519 149,353
Other liabilities 12,490 7,740
Total Liabilities 903,006 755,167
Commitments and Contingencies (Note 11)
Stockholders' Equity    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 49,288,637 and 48,976,885 issued, respectively; 47,271,828 and 48,764,802 outstanding, respectively 5 5
Additional paid-in capital 442,558 439,742
Treasury shares, at cost: 2,016,809 shares and 212,083 shares, respectively (19,872) (431)
Accumulated other comprehensive loss (8,544) (7,242)
Retained earnings (deficit) (73,359) (114,509)
Total Stockholders' Equity 340,788 317,565
Total Liabilities and Stockholders' Equity $ 1,243,794 $ 1,072,732