v3.26.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2026
Fair Value Measurements  
Fair Value Measurements

10. Fair Value Measurements

Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

●Level 1: Quoted prices for identical assets or liabilities in active markets.
●Level 2: Observable inputs other than Level 1 quoted prices, including quoted prices for similar assets or liabilities in active markets, quoted prices in inactive markets and other observable market inputs.
●Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

A summary of the Company’s assets and liabilities measured at fair value on a recurring basis is as follows (in thousands):

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As of September 30, 2026

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As of December 31, 2025

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Fair Value

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Level 1

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Level 2

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Level 3

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Fair Value

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Level 1

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Level 2

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Level 3

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Assets - Investments in financial assets

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$

6,933

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$

6,933

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$

—

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$

—

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$

16,731

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$

16,731

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$

—

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$

—

Liabilities - Contingent consideration (a)

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$

559

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$

—

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$

—

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$

559

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$

—

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$

—

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$

—

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$

—

(a)Recorded as a component of “Accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets.

The Company is required to pay additional purchase consideration totaling 8% of gross receipts collected by Motto Mortgage Franchise (part of the Other segment) each year through September 30, 2026.

The table below presents a reconciliation of the contingent consideration (in thousands):

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Total

Balance at January 1, 2026

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$

—

Acquired contingent consideration

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500

Fair value adjustments

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59

Balance at September 30, 2026

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$

559

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The following table summarizes the carrying value and estimated fair value of the Credit Facility (in thousands):

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September 30, 2026

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Carrying
Amount

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Fair Value
Level 2

Credit Facility

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$

513,539

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$

513,539

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During the nine months ended September 30, 2026, and the year ended December 31, 2025, there were no transfers between Level 1, Level 2 and Level 3.

As of September 30, 2026, and December 31, 2025, the Company’s carrying amounts of financial instruments, including cash and cash equivalents, restricted cash, accounts and notes receivables, financing receivables, accounts payable, and accrued liabilities generally approximate their fair value due to their nature or short-term maturities.