The Company’s significant accounting policies are described in Note 2, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2025. Except for a revised policy related to capitalized internal-use software as a result of the adoption of ASU No. 2025-06, Intangibles—Goodwill and Other-Internal-Use Software (Subtopic 350-40), there have been no significant changes to these policies during the six months ended June 30, 2026.

The Company has classified cash that is not available for use in its operations as restricted cash. Restricted cash consists of collateral for surety bonds for licenses held by the Company’s discontinued title operations. As of June 30, 2026 and December 31, 2025, the Company had $1.9 million in restricted cash, which is presented within prepaid expenses and other current assets on the unaudited condensed consolidated balance sheets.

The Company reports trade and other receivables net of the allowance for credit losses, in accordance with Accounting Standards Codification (“ASC”) 326, Financial Instruments—Credit Losses. ASC 326 requires an entity to recognize an allowance that reflects the entity’s current estimate of credit losses expected to be incurred over the life of the financial instrument. The Company’s estimate of expected credit losses is determined based on expected lifetime loss rates calculated from historical data and adjusted for the impact of current and future conditions, such as the age of outstanding receivables, historical payment patterns, any known or expected changes to the customers’ ability to fulfill their payment obligations, or assessment of broader economic conditions that may impact the customers’ ability to pay the outstanding balances. As of June 30, 2026 and December 31, 2025, the reserve for expected credit losses was immaterial. The provision for expected credit losses and the uncollectible portion of the receivables written off against reserve for expected credit losses were immaterial for the three and six months ended June 30, 2026 and 2025.

The Company determines, at the inception of each arrangement, whether an entity in which it has made an investment or in which it has other variable interest is considered a VIE. The Company consolidates a VIE when it is deemed to be the primary beneficiary. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to direct the activities that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Periodically, the Company determines whether any changes in its interest or relationship with the entity impact the determination of whether the entity is still a VIE and, if so, whether the Company is the primary beneficiary. If the Company is not deemed to be the primary beneficiary of a VIE, the Company accounts for the investment or other variable interest in a VIE in accordance with applicable U.S. GAAP.

The Company has variable interest in an entity that provides certain back office support services to the Company using a cost-plus pricing model. As of June 30, 2026, the Company’s unaudited condensed consolidated financial statements include total assets of $3.5 million related to the VIE, which primarily consists of cash and cash equivalents of $0.5 million, prepaid expenses and other assets of $0.7 million, fixed assets of $0.3 million, and a right-of-use asset of $2.0 million. As of June 30, 2026, the Company’s unaudited condensed consolidated financial statements include total liabilities of $2.9 million related to the VIE, which primarily consists of a lease liability of $2.0 million, income taxes payable of $0.3 million, and other liabilities of $0.6 million. The right-of-use asset and a corresponding lease liability relate to an office lease held by a VIE.

The Company capitalizes certain costs incurred in the development of its platform and product offerings when (i) management has authorized and committed funding for the project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. In assessing whether completion of a project is probable, the Company evaluates whether significant development uncertainty exists. Significant development uncertainty exists if (a) the software includes novel, unique, or unproven functions, features, or technological innovations that have not yet been established through coding and testing, or (b) the software’s significant performance requirements have not yet been determined or remain subject to substantial revision.

Capitalized costs include personnel and related expenses, including stock-based compensation, for employees who are directly associated with and who devote time to internal-use software projects. Capitalization of these costs ceases and amortization commences once the project is substantially complete and the software is ready for its intended purpose. Costs incurred for significant upgrades and enhancements to the existing software are capitalized, while the costs incurred for minor modifications, as well as training and maintenance, are expensed as incurred. The capitalized internal-use software development costs are reported in property and equipment, net, in the consolidated balance sheets. The Company does not transfer ownership of its software or license or lease the software to third parties.

Capitalized internal-use software development costs are amortized using the straight-line method through cost of revenue over an estimated useful life of the software, as the straight-line recognition method best approximates the manner in which the expected benefit will be derived as follows:

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable securities, trade accounts receivable, and notes receivable. The Company maintains its cash equivalents primarily in money market funds and highly liquid investments that are issued or guaranteed by the United States government or its agencies. As of June 30, 2026 and December 31, 2025, cash and cash equivalents amounted to $23.3 million and $45.1 million, respectively, and included $1.7 million and $2.0 million, respectively, of cash held in a foreign jurisdiction. Collateral is not required for trade accounts receivable.

As an emerging growth company (“EGC”), the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are applicable to private companies (that is, those that have not had a Securities Act of 1933, as amended (the “Securities Act”), registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). The Company intends to use this extended transition period under the JOBS Act until December 31, 2026, at which time the Company will no longer be considered an EGC. The adoption dates discussed below reflect this election.

In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other-Internal-Use Software (Subtopic 350-40). This update removes all references to prescriptive and sequential software development stages throughout Subtopic 350-40. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2027 and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company elected to early adopt this ASU as of January 1, 2026 using the prospective transition method. The adoption of ASU 2025-06 resulted in a decrease in the amount of software costs eligible for capitalization as certain agile development activities do not meet the “probable-to-complete” threshold as early as they did under the legacy stage-based model, particularly for projects involving novel technology.

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses. This update improves the disclosures about a public entity’s expenses, primarily through additional disclosures of specific information about certain costs and expenses in the notes to financial statements. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently evaluating the impact this ASU will have on its condensed consolidated financial statements.

In November 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. This amendment results in a comprehensive list of interim disclosures that are required by GAAP, which includes a disclosure principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The guidance is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, for public business entities and for interim reporting periods within annual reporting periods beginning after December 15, 2028, for entities other than public business entities. Early adoption is permitted for all entities. The Company is currently evaluating the impact this ASU will have on its condensed consolidated financial statements.