v3.26.1
Financial Instruments and Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Financial Instruments and Fair Value Measurements Financial Instruments and Fair Value Measurements
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis (in thousands):
June 30, 2026
Level 1 Level 2 Level 3 Total
Assets
Cash equivalents
Money market funds $ 151,153  $ —  $ —  $ 151,153 
Liabilities
Other liabilities
Contingent consideration $ —  $ —  $ 1,504  $ 1,504 
December 31, 2025
Level 1 Level 2 Level 3 Total
Assets
Cash equivalents
Money market funds $ 212,232  $ —  $ —  $ 212,232 
Investments in Held-to-Maturity Debt Securities
The Company holds U.S. Treasury securities that are “off-the-run” as they were issued before the most recent issue and were still outstanding at measurement day. The Company classifies the fair value of these items as Level 2 fair value measurements as the pricing is obtained from a third-party service that uses observable data. The following table summarizes the amortized cost, unrealized gains, unrealized losses, and fair value in U.S. Treasury securities classified as held-to-maturity (in thousands):
June 30, 2026
Amortized
cost
Unrealized
gains
Unrealized
losses
Fair
value
Due within one year or less
$ 2,070  $ 6  $ —  $ 2,076 
Due between one and two years
—  —  —  — 
Total held-to-maturity securities
$ 2,070  $ 6  $ —  $ 2,076 
December 31, 2025
Amortized
cost
Unrealized
gains
Unrealized
losses
Fair
value
Due within one year or less
$ 8,179  $ 20  $ —  $ 8,199 
Due between one and two years
—  —  —  — 
Total held-to-maturity securities
$ 8,179  $ 20  $ —  $ 8,199 
Deferred Consideration Liability
The fair value of the Company’s deferred consideration liability included within other current liabilities was approximately $6.4 million and $0.7 million as of June 30, 2026 and December 31, 2025, respectively, based on unobservable inputs and categorized as Level 3.
Loans and Notes Receivable
Loans and notes receivable are comprised of loans and advances made to member firms of Andersen Global and employees of the Company. The Company classifies the fair value of these items as Level 3 fair value measurements as these are valued using a discounted cash flow methodology less a reserve for expected credit losses. Based on the reserve methodology and the variable rates included within the population, the carrying value of these receivables approximates fair value. Refer to Note 14 for further detail.
Long-Term Debt
Long-term debt includes a revolving line of credit with a financial institution, Capital Account Notes and Holdover Note in connection with the reorganization of the Management Holdcos. Refer to Note 9 for further detail.
Financial Instruments and Fair Value Measurements Financial Instruments and Fair Value Measurements
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis (in thousands):
June 30, 2026
Level 1 Level 2 Level 3 Total
Assets
Cash equivalents
Money market funds $ 151,153  $ —  $ —  $ 151,153 
Liabilities
Other liabilities
Contingent consideration $ —  $ —  $ 1,504  $ 1,504 
December 31, 2025
Level 1 Level 2 Level 3 Total
Assets
Cash equivalents
Money market funds $ 212,232  $ —  $ —  $ 212,232 
Investments in Held-to-Maturity Debt Securities
The Company holds U.S. Treasury securities that are “off-the-run” as they were issued before the most recent issue and were still outstanding at measurement day. The Company classifies the fair value of these items as Level 2 fair value measurements as the pricing is obtained from a third-party service that uses observable data. The following table summarizes the amortized cost, unrealized gains, unrealized losses, and fair value in U.S. Treasury securities classified as held-to-maturity (in thousands):
June 30, 2026
Amortized
cost
Unrealized
gains
Unrealized
losses
Fair
value
Due within one year or less
$ 2,070  $ 6  $ —  $ 2,076 
Due between one and two years
—  —  —  — 
Total held-to-maturity securities
$ 2,070  $ 6  $ —  $ 2,076 
December 31, 2025
Amortized
cost
Unrealized
gains
Unrealized
losses
Fair
value
Due within one year or less
$ 8,179  $ 20  $ —  $ 8,199 
Due between one and two years
—  —  —  — 
Total held-to-maturity securities
$ 8,179  $ 20  $ —  $ 8,199 
Deferred Consideration Liability
The fair value of the Company’s deferred consideration liability included within other current liabilities was approximately $6.4 million and $0.7 million as of June 30, 2026 and December 31, 2025, respectively, based on unobservable inputs and categorized as Level 3.
Loans and Notes Receivable
Loans and notes receivable are comprised of loans and advances made to member firms of Andersen Global and employees of the Company. The Company classifies the fair value of these items as Level 3 fair value measurements as these are valued using a discounted cash flow methodology less a reserve for expected credit losses. Based on the reserve methodology and the variable rates included within the population, the carrying value of these receivables approximates fair value. Refer to Note 14 for further detail.
Long-Term Debt
Long-term debt includes a revolving line of credit with a financial institution, Capital Account Notes and Holdover Note in connection with the reorganization of the Management Holdcos. Refer to Note 9 for further detail.