v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities:    
Net loss $ (5,261) $ (8,668)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 7,430 6,388
Stock-based compensation expense 2,046 1,391
Net realized and unrealized investment gains (1,758) (341)
Impairment of intangible assets 484 468
Deferred income taxes (493) (2,724)
Gain on disposal of subsidiary (1,347) 0
Other non-cash items 412 263
Changes in operating assets and liabilities, adjusted for assets and liabilities disposed of (2026) and acquired (2026 and 2025):    
Service fee receivable, net (1,038) (1)
Deferred contract costs (727) (1,019)
Other assets (424) (455)
Deferred service fees 4,113 4,307
Other, net 1,841 398
Net cash provided by operating activities 5,278 7
Investing activities:    
Proceeds from sales and maturities of fixed maturities 6,516 7,745
Purchases of fixed maturities (9,684) (7,437)
Net proceeds from limited liability investment, at fair value 1,359 130
Net proceeds from investments in private companies 642 130
Net proceeds from disposal of subsidiary, net of cash disposed of $608 4,392 0
Net working capital settlement and escrow releases related to acquisitions 854 190
Acquisition of businesses, net of cash acquired (3,180) (29,745)
Net purchases of property and equipment (1,507) (712)
Other, net (4) (193)
Net cash used in investing activities (612) (29,892)
Financing activities:    
Proceeds from issuance of common stock, net 0 15,602
Proceeds from issuance of preferred stock 0 8,000
Cash paid for repurchase of common stock 0 (345)
Distributions to noncontrolling interest holders (707) 0
Payment of preferred stock dividends (972) (674)
Payment of contingent consideration from acquisition 0 (420)
Taxes paid related to net share settlements of restricted stock awards (306) 0
Principal proceeds from debt, net of debt issuance costs of $19 in 2026 and $389 in 2025 11,994 24,059
Principal payments on debt (14,812) (12,572)
Payment of debt issuance costs (24) (72)
Net cash (used in) provided by financing activities (4,827) 33,578
Net (decrease) increase in cash and cash equivalents and restricted cash (161) 3,693
Cash and cash equivalents and restricted cash at beginning of period 16,271 13,136
Cash and cash equivalents and restricted cash at end of period 16,110 16,829
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 8,272 9,291
Restricted cash 7,838 7,538
Cash and cash equivalents and restricted cash per statements of cash flows 16,110 16,829
Non-cash investing and financing activities:    
Contingent consideration for acquisition of businesses 0 980
Seller phantom equity awards issued for acquisition of businesses 0 3,328
Notes receivable related to disposal of subsidiary (1,510) 0
Notes payable issued for acquisition of businesses, net of discount 840 1,940
Notes payable extinguished in exchange for common stock 0 (1,038)
Common stock issued in exchange for notes payable $ 0 $ 1,158