v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Summary of Changes in Preliminary Calculations of the Fair Values of Assets Acquired and Liabilities Assumed and Purchase Price Allocation at Fair Value for Identifiable Intangible Assets Acquired
The following summarizes the preliminary calculations of the fair values of RPT assets acquired and liabilities assumed as of the acquisition date (in thousands):
RPT
Assets:
Accounts receivable, net$2,733 
Contract assets601 
Prepaid and other current assets57 
Property and equipment, net68 
Operating lease, right-of-use assets1,501 
Goodwill31,953 
Other intangible assets27,950 
Other assets218 
Total assets acquired:$65,081 
Liabilities:
Accounts payable and accrued liabilities, current portion$518 
Contract liabilities1,798 
Other non-current obligations31,212 
Operating lease obligation, less current portion1,501 
Total liabilities assumed:$35,029 
Net assets acquired:$30,052 
Cash paid for acquisitions, net of cash acquired$30,052 
The following summarizes the preliminary calculations of the fair values of the other 2025 acquisition assets acquired and liabilities assumed as of the acquisition date (in thousands):
2025
Assets:
Accounts receivable, net$1,441 
Contract assets694 
Prepaid and other current assets150 
Property and equipment, net339 
Operating lease, right-of-use assets1,063 
Goodwill6,960 
Other intangible assets5,198 
Other assets
13 
Total assets acquired:$15,858 
Liabilities:
Accounts payable and accrued liabilities, current portion$139 
Contract liabilities539 
Other non-current obligations5,884 
Operating lease obligation, less current portion1,063 
Total liabilities assumed:$7,625 
Net assets acquired:$8,233 
Cash flow reconciling items:
Issuance of common stock as partial consideration$(3,076)
Cash paid for acquisitions, net of cash acquired$5,157 
The following table summarizes the purchase price allocation at fair value for identifiable intangible assets acquired during 2025.
2025Weighted-Average Life
Customer relationships$30,138 14.58
Contract rights2,6690.59
Developed technology32010.00
Favorable leaseholds215.25
Total$33,148 
Summary of Results of Operations of Businesses Acquired From Dates of Acquisitions The following table presents the results of operations of RPT since the date of acquisition for the three and six months ended June 30, 2026 (in thousands):
For the Three Months EndedFor the Six Months Ended
June 30, 2026June 30, 2026
Gross contract revenue1
$5,606 $13,160 
Pre-tax net income2
$1,455 $2,867 

1 Gross contract revenue includes adjustments as required by ASC 606, Revenue from Contracts with Customers based on opening balance sheet provided by the acquired companies. There is no assurance these adjustments will be consistent in future periods. Opening balance sheet balances are subject to adjustment prior to being finalized.

2 Pre-tax Net Income excludes corporate overhead allocation.
The following table presents the results of operations of the other companies acquired during 2025 (excluding RPT) from their respective dates of acquisition for the three and six months ended June 30, 2026 (in thousands):
For the Three Months EndedFor the Six Months Ended
June 30, 2026June 30, 2026
Gross contract revenue1
$5,806 $9,656 
Pre-tax net income2
$2,486 $3,521 
1 Gross contract revenue includes adjustments as required by ASC 606, Revenue from Contracts with Customers based on opening balance sheet provided by the acquired companies. There is no assurance these adjustments will be consistent in future periods. Opening balance sheet balances are subject to adjustment prior to being finalized.
2Pre-tax Net Income excludes corporate overhead allocation.
Summary of Unaudited Pro Forma Results The unaudited pro forma results are presented for informational purposes only and are not meant to represent actual operating results that would have been achieved had the related events occurred on such date (in thousands):
For the Three Months Ended
For the Six Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Gross contract revenue3
$146,125 $126,481 $272,604 $242,420 
Pre-tax net income$3,140 $6,700 $384 $3,920 

3Gross contract revenue in these pro forma financials does not conform to GAAP as required by ASC 606, Revenue from Contracts with Customers, as it is impracticable to obtain the historical information necessary to apply this accounting standard. The historical estimates required to be able to accurately determine the percent complete accounting on the contracts that comprise the revenue is not available for the required periods.
The unaudited pro forma results are presented for informational purposes only and are not meant to represent actual operating results that would have been achieved had the related events occurred on such date (in thousands):
For the Three Months Ended
For the Six Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Gross contract revenue3
$146,125 $123,500 $272,604 $239,590 
Pre-tax net income (loss)$2,510 $5,973 $(1,073)$4,254 

3Gross contract revenue in these pro forma financials does not conform to GAAP as required by ASC 606, Revenue from Contracts with Customers, as it is impracticable to obtain the historical information necessary to apply this accounting standard. The historical estimates required to be able to accurately determine the percent complete accounting on the contracts that comprise the revenue is not available for the required periods.