v3.26.3
REVENUE (Tables)
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue The components of revenue were as follows:
Three months ended September 30,
Nine months ended
September 30,
(in thousands)2026202520262025
Service revenue$49,847 $39,666 $143,666 $121,348 
Reimbursable expenses2,073 2,171 6,350 7,067 
Non-controlling interests— 71 151 220 
Total$51,920 $41,908 $150,167 $128,635 
Schedule of Disaggregation of Revenue
Disaggregation of total revenue by segment and major source was as follows:
Three months ended September 30, 2026Three months ended September 30, 2025
(in thousands)Servicer and Real EstateOriginationTotal revenueServicer and Real EstateOriginationTotal revenue
Revenue recognized when services are performed or assets are sold$33,688 $13,814 $47,502 $28,877 $8,398 $37,275 
Revenue related to technology platforms and professional services2,138 207 2,345 2,298 164 2,462 
Reimbursable expenses revenue1,944 129 2,073 2,067 104 2,171 
Total revenue$37,770 $14,150 $51,920 $33,242 $8,666 $41,908 
Nine months ended September 30, 2026Nine months ended September 30, 2025
(in thousands)Servicer and Real EstateOriginationTotal revenueServicer and Real EstateOriginationTotal revenue
Revenue recognized when services are performed or assets are sold$95,055 $41,622 $136,677 $89,006 $25,035 $114,041 
Revenue related to technology platforms and professional services6,523 617 7,140 6,986 541 7,527 
Reimbursable expenses revenue5,994 356 6,350 6,605 462 7,067 
Total revenue$107,572 $42,595 $150,167 $102,597 $26,038 $128,635 
Disaggregation of service revenue by the timing of revenue recognition was as follows:
Three months ended September 30,
Nine months ended
September 30,
(in thousands)2026202520262025
Over-time revenue recognition$10,576 $8,773 $29,346 $29,016 
Point-in-time revenue recognition39,271 30,893 114,320 92,332 
Total service revenue$49,847 $39,666 $143,666 $121,348 
Schedule of Deferred Revenue The deferred revenue opening and closing balances were as follows:
Three months ended September 30,
Nine months ended
September 30,
(in thousands)2026202520262025
Deferred revenue, beginning balance$3,121 $3,457 $3,487 $3,979 
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(590)(663)(3,094)(3,582)
Increase due to billing, excluding amounts recognized as revenue during the period286 759 2,424 3,156 
Deferred revenue, ending balance$2,817 $3,553 $2,817 $3,553