v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash, cash equivalents, and restricted cash (restricted cash of $1,750 and $11,253 at June 30, 2026 and December 31, 2025, respectively) $ 153,516 $ 161,921
Commissions receivable 13,542 14,851
Income tax receivable 3,352 1,962
Marketable debt securities, available-for-sale (amortized cost of $57,287 and $90,557 at June 30, 2026 and December 31, 2025, respectively, and $0 allowance for credit losses) 57,249 90,564
Advances and loans, net 15,211 15,299
Prepaid expenses and other assets, current 27,765 24,613
Total current assets 270,635 309,210
Property and equipment, net 23,110 23,877
Operating lease right-of-use assets, net 69,895 74,333
Marketable debt securities, available-for-sale (amortized cost of $135,819 and $145,570 at June 30, 2026 and December 31, 2025, respectively, and $0 allowance for credit losses) 134,446 145,701
Assets held in rabbi trust 13,987 13,476
Deferred tax assets, net 43,260 44,586
Goodwill and other intangible assets, net 40,741 41,662
Advances and loans, net 140,478 147,215
Other assets, non-current 29,243 27,120
Total assets 765,795 827,180
Current liabilities:    
Accounts payable and accrued expenses 9,962 11,021
Deferred compensation and commissions 40,161 57,463
Operating lease liabilities 17,500 18,796
Accrued bonuses and other employee related expenses 16,268 23,856
Other liabilities, current 8,937 10,311
Total current liabilities 92,828 121,447
Deferred compensation and commissions 30,486 35,416
Operating lease liabilities 56,653 59,459
Other liabilities, non-current 6,915 7,755
Total liabilities 186,882 224,077
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock, $0.0001 par value: Authorized shares – 25,000,000; issued and outstanding shares – none at June 30, 2026 and December 31, 2025, respectively 0 0
Common stock, $0.0001 par value: Authorized shares – 150,000,000; issued and outstanding shares – 37,871,003 and 38,422,993 at June 30, 2026 and December 31, 2025, respectively 4 4
Additional paid-in capital 203,468 192,945
Retained earnings 376,674 409,753
Accumulated other comprehensive (loss) income (1,233) 401
Total stockholders’ equity 578,913 603,103
Total liabilities and stockholders’ equity $ 765,795 $ 827,180