v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table presents the disaggregation of revenue by timing of revenue recognition (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Over time
$ 216,934  $ 175,217  $ 456,286  $ 382,729 
Point in time
724  774  2,118  1,329 
Total revenue
$ 217,658  $ 175,991  $ 458,404  $ 384,058 
The Company derives revenue from four service lines:
•Private Client Services: Tax and financial services for individuals and families, focusing on client issues such as multigenerational wealth, charitable giving, and estate planning.
•Business Tax Services: Consulting and compliance services for businesses, assisting organizations with tax planning, compliance and reporting needs.
•Alternative Investment Funds: Tax and financial-related services for alternative investment funds including family offices, funds of funds, hedge funds, private equity, venture capital and real estate investment trusts.
•Valuation Services: Independent valuation analyses to assist clients in navigating tax laws and regulatory requirements.
The following table presents the disaggregation of revenue by service line (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Private Client Services
$ 102,452  $ 87,630  $ 225,629  $ 191,821 
Business Tax Services
85,392  62,397  166,027  134,100 
Alternative Investment Funds
17,712  15,021  42,905  37,187 
Valuation Services
12,102  10,943  23,843  20,950 
Total revenue
$ 217,658  $ 175,991  $ 458,404  $ 384,058 
The following table presents the disaggregation of revenue by region (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
United States - East
$ 85,096  $ 66,246  $ 186,581  $ 149,133 
United States - Central
37,673  32,958  77,047  68,395 
United States - West
89,423  76,787  189,310  166,530 
International 5,466 —
5,466 —
Total revenue
$ 217,658  $ 175,991  $ 458,404  $ 384,058 
Remaining Performance Obligations
The revenue recognition standard provides exemptions to the requirements for disclosure of the total transaction price allocated to unsatisfied performance obligations as of the reporting date for performance obligations within contracts of one year or less. The majority of the Company’s contracts with clients have a duration of one year or less. For contracts with a stated duration exceeding one year, these agreements allow both the Company and the client to cancel or terminate without substantial penalty. Therefore, the contract duration does not extend beyond the goods and services already transferred when cancellation or termination rights exist without substantial penalty. As such, the Company does not disclose the total transaction price allocated to unsatisfied performance obligations.
Contract Balances
In the three and six months ended June 30, 2026, the Company recognized revenue of approximately $1.8 million and $9.6 million, respectively, that was included in deferred revenue on the consolidated balance sheet as of December 31, 2025. In the three and six months ended June 30, 2025, the Company recognized revenue of approximately $3.2 million and $13.0 million, respectively, that was included in deferred revenue on the consolidated balance sheet as of December 31, 2024. The opening balance of deferred revenue on January 1, 2025 was $15.6 million.