v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 40,401 $ 33,070
Adjustments to reconcile net income to cash provided by operating activities:    
Amortization expense 3,013 2,734
Amortization of deferred financing costs 270 483
Share-based compensation 20,832 299
Deferred income taxes 76 (176)
(Increase) decrease in operating assets:    
Commissions and fees receivable (875) (1,064)
Income tax receivable (283) 0
Prepaid expenses and other current assets 480 (186)
Deferred financing asset 0 (37)
Increase (decrease) in operating liabilities:    
Accounts payable 3,618 4,081
Commissions payable 1,726 2,482
Income tax payable 0 (3,760)
Accrued expenses 29 992
Net cash provided by operating activities 69,287 38,920
Cash flows from investing activities:    
Internally developed software (3,226) (2,868)
Purchases of intangible assets 0 (63)
Net cash used in investing activities (3,226) (2,931)
Cash flows from financing activities:    
Change in fiduciary receivables (731) (389)
Change in fiduciary liabilities 28,731 26,279
Proceeds from 2025 Term Loan 0 301,000
Proceeds from revolving credit facility 24,000 0
Repayments of revolving credit facility (49,000) 0
Repurchase of common stock (31,873) 0
Payment of deferred financing fees and prepayment penalty 0 (477)
Proceeds from exercise of stock options 902 15,578
Taxes paid related to net share settlement of equity awards (698) 0
Cash dividend paid 0 (175,000)
Net cash used in financing activities (28,669) (5,009)
Net increase in cash and cash equivalents and fiduciary cash 37,392 30,980
Cash and cash equivalents and fiduciary cash:    
Beginning of period 40,548 28,065
End of period 77,940 59,045
Cash and cash equivalents 17,429 12,184
Fiduciary cash 60,511 46,861
Total cash and cash equivalents and fiduciary cash 77,940 59,045
Non-cash transactions:    
Taxes related to net share settlement of equity awards accrued but not paid 13,625 0
Exercise price of stock options paid with shares withheld 1,461 0
Shareholder reimbursement of IPO transaction costs 0 8,474
2024 Credit Agreement    
Cash flows from financing activities:    
Repayments of term loan 0 (135,000)
2025 Credit Agreement    
Cash flows from financing activities:    
Repayments of term loan $ 0 $ (37,000)