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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 279,073 $ 258,418
Accounts receivable, net 20,801 24,288
Short-term investments 31,175 35,588
Reinsurance balance due 75,419 83,582
Prepaid expenses and other current assets 16,666 13,214
Deferred policy acquisition costs 20,422 27,174
Restricted cash and cash equivalents 36,820 38,814
Total current assets 480,376 481,078
Property, equipment, and software, net 17,588 16,861
Goodwill 191,907 191,907
Long-term investments 102,941 103,588
Intangible assets, net 82,505 87,216
Long-term insurance commissions receivable 196 13,429
Other assets 5,600 5,314
Total assets 881,113 899,393
Current liabilities    
Accounts payable 5,250 8,761
Accrued expenses and other current liabilities 53,466 59,396
Deferred revenue 215,771 248,683
Refundable customer deposits 16,040 17,980
Current debt 150 244
Losses and loss adjustment expense reserves 112,560 95,503
Other insurance liabilities, current 40,742 31,585
Total current liabilities 443,979 462,152
Long-term debt 432,082 435,495
Other liabilities 48,910 37,429
Total liabilities 924,971 935,076
Commitments and contingencies (Note 14)
Stockholders’ equity (deficit)    
Common stock, $0.0001 par value: 10 10
Additional paid-in capital 696,240 690,223
Accumulated other comprehensive loss (4,690) (3,860)
Accumulated deficit (735,418) (722,056)
Total stockholders’ equity (deficit) (43,858) (35,683)
Total liabilities and stockholders’ equity (deficit) $ 881,113 $ 899,393