Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of the Income Tax (Benefit) Provision

The following table summarizes the components of the income tax provision.

	Year Ended December 31,
	2024		2023		2022
Current:
Federal	$	—	$	—	$	(483)
State	(778)		(399)		(644)
Total current	(778)		(399)		(1,127)
Deferred
Federal	(569)		(66)		285
State	(770)		(157)		—
Total deferred	(1,339)		(223)		285
Income tax (expense) benefit	$	(2,117)	$	(622)	$	(842)

Schedule of Significant Deferred Tax Assets and Deferred Tax Liabilities

The valuation allowance relates to deferred tax assets for which it is more likely than not that the tax benefit will not be realized.

	December 31,
	2024		2023
Deferred tax assets
Accrued expenses and other	$	3,158	$	3,721
Unrealized gain/loss on investments	1,421		811
Stock-based compensation	4,768		2,638
Deferred revenue	25,844		27,599
Goodwill	4,562		9,217
Operating lease liabilities	478		793
Loss and loss adjustment reserves	6,289		2,479
Net operating losses	105,823		102,044
Disallowed interest	18,243		9,650
Research and development capitalized costs	289		169
Valuation allowance	(148,147)		(140,535)
Total deferred tax assets	22,727		18,586
Deferred tax liabilities
Property and equipment	(61)		(98)
Intangibles	—		(1,167)
Operating lease right-of-use assets	(556)		(774)
Deferred policy acquisition costs	(10,151)		(5,715)
Reinsurance balance due	(13,956)		(11,491)
Total deferred tax liabilities	(24,724)		(19,245)
Net deferred tax liabilities	$	(1,997)	$	(659)

Schedule of Reconciliation of the Income Tax (Benefit) Provision

reconciliation of the income tax provision to the amounts computed by applying the statutory federal income tax rate to earnings before income taxes.

	Year Ended December 31,
	2024		2023		2022
Tax computed at federal statutory rate	$	6,512	$	27,995	$	32,701
State tax, net of federal tax benefit	231		1,934		4,879
Loss on impairment	—		(4,775)		(3,836)
Equity compensation	(1,523)		(3,311)		(3,939)
Officer compensation	(827)		(15)		(860)
Debt transactions	1,378		(1,591)		4,808
Enacted tax rate changes	1,685		(2,061)		90
Return to provision	(2,748)		4,816		(6,533)
Valuation allowance	(7,612)		(23,453)		(27,724)
Change in contingent consideration	914		—		—
Other	(127)		(161)		(428)
Income tax benefit (expense)	$	(2,117)	$	(622)	$	(842)