v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 243,164 $ 240,206
Restricted cash 10,760 6,463
Accounts receivable, net 5,055 4,616
Current contract assets, net 9,973 28,704
Income tax receivable 3,558 7,035
Other current assets 3,215 2,852
Total current assets 275,725 289,876
Property and equipment, net 729 826
Capitalized software development costs, net 5,386 3,087
Operating lease right-of-use assets, net 3,878 3,990
Contract assets 5,094 610
Deferred tax asset, net 0 70,113
Other assets 5,556 5,535
Total assets 296,368 374,037
Current liabilities    
Accounts payable 953 375
Accrued expenses 5,166 8,131
Current portion of debt 7,500 4,688
Third-party claims administration liability 10,797 6,464
Current portion of excess profit share receipts 19,346 0
Other current liabilities 3,490 932
Total current liabilities 47,252 20,590
Long-term debt, net of deferred financing costs 132,217 139,357
Operating lease liabilities 3,273 3,450
Excess profit share receipts 28,210 0
Other liabilities 7,329 5,060
Total liabilities 218,281 168,457
Commitments and contingencies
Stockholders’ equity    
Preferred stock, $0.01 par value; 10,000,000 shares authorized and none issued and outstanding 0 0
Common stock, $0.01 par value; 550,000,000 shares authorized, 128,198,185 shares issued and 119,350,001 shares outstanding as of December 31, 2024 and 128,198,185 shares issued and 118,819,795 shares outstanding as of December 31, 2023 1,282 1,282
Additional paid-in capital 502,664 502,032
Accumulated deficit (328,759) (193,749)
Treasury stock at cost, 8,848,184 shares at December 31, 2024 and 9,378,390 at December 31, 2023 (97,100) (103,985)
Total stockholders’ equity 78,087 205,580
Total liabilities and stockholders’ equity $ 296,368 $ 374,037