v3.26.1
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Revenues from Contracts with Customers
Revenue from contracts with customers from the Company’s seven reportable operating segments and the Corporate and All Other category during the three and six months ended June 30, 2026 and 2025 is reported below.
Capital
Markets		Wealth
Management		LingomagicJackMarconi WirelessUOLConsumer ProductsCorporate & All OtherTotal
Revenues for the three months ended June 30, 2026:
Corporate finance, consulting and investment banking fees(1)
$36,310 $— $— $— $— $— $— $(2,363)$33,947 
Wealth and asset management fees — 28,438 — — — — — 551 28,989 
Commissions, fees and reimbursed expenses 8,045 2,494 — — — — — 6 10,545 
Subscription services— — 38,788 7,798 6,878 2,347 — — 55,811 
Sale of goods— — — 286 490 — 43,537 287 44,600 
Advertising and other(2)
— — — 483 — 534 — 10,968 11,985 
Total revenues from contracts with customers 44,355 30,932 38,788 8,567 7,368 2,881 43,537 9,449 185,877 
Trading gains (losses), net4,363 9,251 — — — — — (740)12,874 
Fair value adjustments on loans 751 — — — — — — 3,494 4,245 
Interest income - loans1,027 — — — — — — 1,144 2,171 
Interest income - securities lending1,632 — — — — — — — 1,632 
Other 1,584 17,770 — — — — — 12,964 32,318 
Total revenues $53,712 $57,953 $38,788 $8,567 $7,368 $2,881 $43,537 $26,311 $239,117 
(1) Corporate finance, consulting and investment banking fees for the Corporate & All Other category represents intercompany sales.
(2) Advertising and other revenues for the Corporate and All Other category primarily consist of bebe’s revenues from merchandise rental fees.
Capital
Markets		Wealth
Management		LingomagicJackMarconi WirelessUOLConsumer ProductsCorporate & All OtherTotal
Revenues for the three months ended June 30, 2025:
Corporate finance, consulting and investment banking fees $32,346 $— $— $— $— $— $— $— $32,346 
Wealth and asset management fees — 29,373 — — — — — 959 30,332 
Commissions, fees and reimbursed expenses 4,518 2,576 — — — — — 65 7,159 
Subscription services — — 39,907 8,930 8,065 2,787 — — 59,689 
Sale of goods— — — 304 1,167 — 43,284 318 45,073 
Advertising and other(1)
— — — 543 — 500 — 12,524 13,567 
Total revenues from contracts with customers 36,864 31,949 39,907 9,777 9,232 3,287 43,284 13,866 188,166 
Trading gains, net21,249 5,200 — — — — — 1,231 27,680 
Fair value adjustments on loans— — — — — — — 800 800 
Interest income - loans— — — — — — — 3,853 3,853 
Interest income - securities lending2,124 — — — — — — — 2,124 
Other 1,055 1,472 — — — — — 152 2,679 
Total revenues $61,292 $38,621 $39,907 $9,777 $9,232 $3,287 $43,284 $19,902 $225,302 
(1) Advertising and other revenues for the Corporate and All Other category primarily consist of bebe’s revenues from merchandise rental fees.
Capital
Markets		Wealth
Management		LingomagicJackMarconi WirelessUOLConsumer ProductsCorporate & All OtherTotal
Revenues for the six months ended June 30, 2026
Corporate finance, consulting and investment banking fees(1)
$65,044 $— $— $— $— $— $— $(3,638)$61,406 
Wealth and asset management fees— 56,657 — — — — — 2,140 58,797 
Commissions, fees and reimbursed expenses13,556 5,895 — — — — — 41 19,492 
Subscription services— — 79,578 15,754 13,904 4,744 — — 113,980 
Sale of goods— — — 596 1,001 — 87,652 718 89,967 
Advertising and other(2)
— — — 1,000 — 958 — 22,306 24,264 
Total revenues from contracts with customers78,600 62,552 79,578 17,350 14,905 5,702 87,652 21,567 367,906 
Trading gains (losses), net139,666 19,347 — — — — — (1,078)157,935 
Fair value adjustments on loans751 — — — — — — 10,039 10,790 
Interest income - loans1,034 — — — — — — 2,851 3,885 
Interest income - securities lending2,883 — — — — — — — 2,883 
Other2,889 28,229 — — — — — 16,660 47,778 
Total revenues$225,823 $110,128 $79,578 $17,350 $14,905 $5,702 $87,652 $50,039 $591,177 

(1) Corporate finance, consulting and investment banking fees for the Corporate & All Other category represents intercompany sales.
(2) Advertising and other revenues for the Corporate and All Other category primarily consist of bebe’s revenues from merchandise rental fees.
Capital
Markets		Wealth
Management		LingomagicJackMarconi WirelessUOLConsumer ProductsCorporate & All OtherTotal
Revenues for the six months ended June 30, 2025
Corporate finance, consulting and investment banking fees(1)
$49,723 $— $— $— $— $— $— $352 $50,075 
Wealth and asset management fees— 66,602 — — — — — 1,831 68,433 
Commissions, fees and reimbursed expenses7,816 6,195 — — — — — 122 14,133 
Subscription services— — 81,460 17,765 16,606 5,975 — — 121,806 
Sale of goods— — — 659 2,113 — 85,387 4,369 92,528 
Advertising and other(2)
— — — 1,154 — 945 — 36,319 38,418 
Total revenues from contracts with customers57,539 72,797 81,460 19,578 18,719 6,920 85,387 42,993 385,393 
Trading gains, net3,983 5,812 — — — — — 1,714 11,509 
Fair value adjustments on loans(3,131)— — — — — — (4,165)(7,296)
Interest income - loans65 — — — — — — 6,984 7,049 
Interest income - securities lending2,964 — — — — — — — 2,964 
Other1,972 7,290 — — — — — 2,484 11,746 
Total revenues$63,392 $85,899 $81,460 $19,578 $18,719 $6,920 $85,387 $50,010 $411,365 
(1) Corporate finance, consulting and investment banking fees for the Corporate and All Other category represents intercompany sales.
(2) Advertising and other revenues for the Corporate and All Other category primarily consist of bebe’s revenues from merchandise rental fees. These also include recycling processing fees for a regional environmental services business, which was sold in March 2025, and managed service fees for Nogin, an e-commerce, technology platform provider, through March 31, 2025.
During the three and six months ended June 30, 2026, and 2025, revenues recognized for customer contracts for performance obligations that are satisfied at a point in time and over time were:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Revenue recognized at a point in time
$106,201 $100,595 $205,509 $191,065 
Revenue recognized over time
79,676 87,571 162,397 194,328 
Total revenue$185,877 $188,166 $367,906 $385,393 
Schedule of Contract with Customer, Contract Liability
The following table presents changes in deferred revenue during the six months ended June 30, 2026 and 2025:
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Balance, beginning of period$49,907 $58,148 
Additions to deferred revenue during the period68,757 77,285 
Reductions to deferred revenue for revenue recognized during the period(71,679)(81,934)
Balance, end of period$46,985 $53,499 
Contract with Customer, Contract Asset, Contract Liability, and Receivable
The following table contains a rollforward of unbilled receivables, which are included in prepaid expenses and other assets, for the six months ended June 30, 2026 and 2025:
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Balance, beginning of period $2,727 $3,387 
Additional unbilled revenue recognized2,248 3,172 
Less: Amounts billed to customers(2,795)(3,415)
Balance, end of period $2,180 $3,144