Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table disaggregates revenue by source (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Type of revenue stream:
Commissions and agency fees
Renewal Commissions	$	16,485	$	10,969	$	41,233	$	29,036
New Business Commissions	6,215		6,013		18,312		16,573
Agency Fees	2,740		3,050		8,491		8,579
Contingent Commissions	1,962		2,388		5,640		6,819
Franchise revenues
Renewal Royalty Fees	21,574		13,206		54,446		33,622
New Business Royalty Fees	4,866		4,003		13,979		10,840
Initial Franchise Fees	3,056		1,680		7,943		4,570
Other Franchise Revenues	426		71		931		202
Interest Income	363		301		1,012		841
Total Revenues	$	57,687	$	41,681	$	151,987	$	111,082
Timing of revenue recognition:
Transferred at a point in time	$	25,440	$	20,032	$	68,036	$	54,188
Transferred over time	32,247		21,649		83,951		56,894
Total Revenues	$	57,687	$	41,681	$	151,987	$	111,082

Schedule of Contract Balances

The following table provides information about receivables, cost to obtain, and contract liabilities from contracts with customers (in thousands):

	September 30, 2022		December 31, 2021		Increase/(decrease)
Cost to obtain franchise contracts(1)	$	3,007	$	1,973	$	1,034
Commissions and agency fees receivable, net(2)	11,271		12,056		(785)
Receivable from franchisees(2)	31,055		29,673		1,382
Contract liabilities(2)(3)	50,759		48,608		2,151

(1) Cost to obtain franchise contracts is included in Other assets on the condensed consolidated balance sheets.

(2) Includes both the current and long term portion of this balance.

(3) Initial Franchise Fees to be recognized over the life of the contract.

Significant changes in contract liabilities are as follows (in thousands):

Contract liabilities at December 31, 2021	$	48,608
Revenue recognized during the period	(7,943)
New deferrals(1)	10,094
Contract liabilities at September 30, 2022	$	50,759

(1) Initial Franchise Fees where the consideration is received from the franchisee for services which are to be transferred to the Franchisee over the expected life of the Franchise Agreement