Note 10 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Commitments Contingencies and Guarantees [Text Block]

10. Commitments and Contingencies

Commitments

The Company has outstanding unconditional purchase commitments to procure licenses to use information technology (“IT”) software from suppliers. These agreements are negotiated in consideration of the volume of transactions with select suppliers and the associated required transaction volumes are expected to be met through the normal course of business.

In  December 2024, the Company signed an unconditional purchase commitment in the amount of $15.0 million to purchase IT solutions over a five-year term. Under this agreement, payments are made upon access to the service. The agreement specified four minimum commitment periods. The minimum commitment payments are due at the end of each minimum commitment period. During the three months ended March 31, 2026 and 2025, the Company paid $0.2 million and $0.0 million, respectively, related to the December 2024 agreement. 

In December 2025, the Company entered into a five-year agreement under which the Company committed to consume $340.0 million of eligible IT services from December 1, 2025 through November 30, 2030. The agreement includes a Year 1 minimum consumption milestone of $50.0 million, for which the vendor may invoice the Company for any shortfall as a prepayment that will be applied against future consumption. During the three months ended March 31, 2026, the Company paid $20.0 million related to the December 2025 agreement. 

In February 2024, the Company made a commitment to contribute $50.0 million to a growth equity fund. As of March 31, 2026, this commitment remains outstanding. Refer to “Note 13 - Growth Equity Fund” for more information. 

The Company is obligated to make the following future minimum payments under the non-cancellable terms of these contracts as of  March 31, 2026:

Years Ending December 31,
	(in thousands)
2026 (nine months)	$	40,815
2027		2,574
2028		4,115
2029		6,676
2030		290,000
Thereafter		—
	$	344,180

Legal Proceedings

In the normal course of its business, the Company may be involved in various claims, negotiations and legal actions. Except for such claims that arise in the normal course of business, as of March 31, 2026, the Company was not a party to any other litigation.

Guarantees

In the normal course of business, customers in certain geographies or in highly regulated sectors occasionally require contingency agreements for the completion of service projects, the completion of which are secured by a sublimit of our line of credit (refer to “Note 7 - Line of Credit” for further details). As of March 31, 2026, letters of credit for customer-related contingency agreements have been issued in the amount of $5.4 million, as security for the agreements. These agreements have not had a material effect on our results of operations, financial position or cash flow.