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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investments:    
Fixed maturities, at fair value (amortized cost of $38,069 and $38,117, respectively) $ 37,530 $ 36,963
Investments in private companies, at adjusted cost 628 696
Short-term investments, at cost which approximates fair value 173 169
Total investments 42,018 41,337
Cash and cash equivalents 12,079 5,493
Restricted cash 7,378 7,643
Accrued investment income 895 841
Other receivables, net of allowance of $5 and $5, respectively 2,904 1,000
Deferred contract costs 14,570 13,889
Income taxes receivable 605 574
Property and equipment, net of accumulated depreciation of $2,006 and $1,720, respectively 1,679 1,567
Right-of-use asset 2,561 2,390
Goodwill 57,547 56,524
Intangible assets, net of accumulated amortization of $37,834 and $34,442, respectively 40,134 40,049
Other assets 14,387 5,948
Total Assets 207,697 186,616
Liabilities:    
Accrued expenses and other liabilities 20,701 20,616
Deferred service fees 86,430 83,108
Bank loans 43,351 44,128
Note payable 1,053 0
Subordinated debt, at fair value 13,928 13,409
Lease liability 2,826 2,682
Net deferred income tax liabilities 3,800 4,371
Total Liabilities 172,089 168,314
Redeemable preferred stock, $0.01 par value; 650,000 and 330,000 authorized, issued and outstanding at June 30, 2025 and December 31, 2024, respectively; redemption amount of $16,250 and $8,250 at June 30, 2025 and December 31, 2024, respectively 16,250 8,250
Shareholders' Equity:    
Common stock, $0.01 par value; 50,000,000 authorized; 29,456,040 and 28,119,776 issued at June 30, 2025 and December 31, 2024, respectively; and 28,430,113 and 27,136,749 outstanding at June 30, 2025 and December 31, 2024, respectively 294 281
Additional paid-in capital 392,853 376,503
Treasury stock, at cost; 1,025,927 and 983,027 outstanding at June 30, 2025 and December 31, 2024, respectively (6,545) (6,200)
Accumulated deficit (368,520) (361,453)
Accumulated other comprehensive loss (640) (718)
Shareholders' equity attributable to common shareholders 17,442 8,413
Noncontrolling interests in consolidated subsidiaries 1,916 1,639
Total Shareholders' Equity 19,358 10,052
Total Liabilities, Redeemable Preferred Stock and Shareholders' Equity 207,697 186,616
Service Fees [Member]    
Investments:    
Service fee receivable, net of allowance for credit losses of $758 and $626, respectively 10,940 9,361
Liabilities:    
Deferred service fees 86,430 83,108
Limited Liability Investments [Member]    
Investments:    
Limited liability investments 650 650
Limited liability investment, at fair value $ 3,037 $ 2,859