| Schedule of Consolidated Revenue, Net Income and Significant Expense Categories Reviewed by CODM |
The consolidated revenue, net income and significant expense categories regularly reviewed by the CODM for the periods indicated are as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Revenue |
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$ |
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57,787 |
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$ |
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56,091 |
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$ |
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113,321 |
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$ |
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108,498 |
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Cost of revenue: |
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Policy commission and related expenses |
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10,038 |
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10,074 |
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22,212 |
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22,741 |
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Outsourced claims fees |
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1,494 |
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3,831 |
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3,023 |
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6,086 |
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Direct personnel expense |
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5,387 |
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5,063 |
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10,371 |
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10,079 |
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Other operating expenses |
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3,451 |
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2,964 |
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6,985 |
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6,011 |
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Depreciation and amortization |
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579 |
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608 |
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1,149 |
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1,205 |
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Gross profit |
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36,838 |
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33,551 |
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69,581 |
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62,376 |
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Operating expenses: |
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Selling, general and administrative: |
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Personnel cost |
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4,221 |
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2,135 |
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8,161 |
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4,224 |
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Other operating expenses |
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1,567 |
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825 |
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2,843 |
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1,442 |
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Research and development |
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2,440 |
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2,354 |
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4,746 |
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4,575 |
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Depreciation and amortization |
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147 |
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110 |
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293 |
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211 |
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Total operating expenses |
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8,375 |
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5,424 |
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16,043 |
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10,452 |
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Operating income |
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28,463 |
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28,127 |
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53,538 |
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51,924 |
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Investment income |
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2,963 |
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763 |
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5,475 |
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1,161 |
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Income before income taxes |
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31,426 |
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28,890 |
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59,013 |
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53,085 |
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Income tax expense |
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8,157 |
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7,227 |
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15,338 |
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13,471 |
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Net income |
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$ |
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23,269 |
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$ |
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21,663 |
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$ |
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43,675 |
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$ |
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39,614 |
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