Revenue

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Note 2. Revenue

Disaggregation of Revenue

The following table provides detail of total revenue.

	Year Ended December 31,
	2024		2023		2022
Vertical Software segment
Software and service subscriptions	$	71,944	$	67,697	$	72,777
Move-related transactions	31,892		40,350		62,317
Post-move transactions	16,771		17,069		19,821
Total Vertical Software segment revenue	120,607		125,116		154,915
Insurance segment
Insurance and warranty premiums, commissions and policy fees(1)	318,190		305,186		121,033
Total Insurance segment revenue	318,190		305,186		121,033
Intersegment revenue(2)	(949)		—		—
Total revenue	$	437,848	$	430,302	$	275,948

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(1)Revenue recognized during the years ended December 31, 2024, 2023 and 2022, includes revenue in the Insurance segment of $296.2 million, $271.1 million and $83.9 million, respectively, which is accounted for in accordance with ASC Topic 944, Financial Services-Insurance, and ASC Topic 460, Guarantees, separately from revenue from contracts with customers.

(2)Intersegment revenue relates to sales of software and service subscriptions from the Vertical Software segment to the Insurance segment.

Disclosures Related to Contracts with Customers

Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to contracts with customers. Liabilities are recorded for amounts that are collected in advance of the satisfaction of performance obligations. To the extent a contract exists, as defined by ASC Topic 606, Revenue from Contracts with Customers, (“ASC 606”) these liabilities are classified as deferred revenue. To the extent that a contract does not exist, as defined by ASC 606, these liabilities are classified as refundable customer deposits. Refundable customer deposits related to contracts with customers were not material at December 31, 2024 and 2023.

Insurance Commissions Receivable

A summary of the activity impacting insurance commissions receivable is presented below:

Balance at January 1, 2022	$	9,384
Estimated lifetime value of commissions on insurance policies sold by carriers	9,925
Cash receipts	(3,788)
Balance at December 31, 2022	15,521
Estimated lifetime value of commissions on insurance policies sold by carriers	6,583
Cash receipts	(4,711)
Balance at December 31, 2023	17,393
Estimated lifetime value of commissions on insurance policies sold by carriers	1,506
Cash receipts	(491)
Value of commissions sold with business disposition (Note 12)	(16,982)
Balance at December 31, 2024	$	1,426

As of December 31, 2024 and 2023, $0.3 million and $4.0 million, respectively, of insurance commissions receivable were expected to be collected within the immediately following 12 months and therefore were included in accounts receivable, net, on the Consolidated Balance Sheets. The remaining $1.2 million and $13.4 million as of December 31, 2024 and 2023, respectively, of insurance commissions receivable are expected to be collected after the immediately following 12 months and were included in long-term insurance commissions receivable on the Consolidated Balance Sheets.

Deferred Revenue

A summary of the activity impacting deferred revenue in the Vertical Software segment is presented below:

	Vertical Software Segment Deferred Revenue
Balance at January 1, 2022	$	3,814
Additional amounts deferred	19,421
Impact of acquisitions	137
Revenue recognized	(19,498)
Balance at December 31, 2022	3,874
Additional amounts deferred	16,142
Revenue recognized	(16,301)
Balance at December 31, 2023	3,715
Additional amounts deferred	19,436
Revenue recognized	(19,716)
Balance at December 31, 2024	$	3,435

Deferred revenue on our Consolidated Balance Sheets as of December 31, 2024 and 2023, includes $245.2 million and $245.0 million, respectively, of deferred revenue related to our Insurance segment.

Remaining Performance Obligations

We have applied the practical expedients not to present unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which we recognize revenue at the amount which we have the right to invoice for services performed.

Warranty Revenue and Related Balance Sheet Disclosures

We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. As of December 31, 2024 and 2023, we had $0.3 million and $0.4 million, respectively, of capitalized costs in prepaid expenses and other current assets. As of December 31, 2024 and 2023, we had $1.0 million and $— million, respectively, in other assets on the consolidated balance sheets.

Payments received in advance of warranty services provided are included in refundable customer deposits or deferred revenue based upon the cancellation and refund provisions within the respective agreement. The following table provides balances as of the dates shown:

	December 31, 2024		December 31, 2023
Refundable customer deposits	$	12,598	$	17,911
Deferred revenue	$	2,751	$	3,887
Non-current deferred revenue (1)	$	2,433	$	2,856

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(1)Non-current deferred revenue is included in other liabilities in the Consolidated Balance Sheets.

We incurred $7.1 million and $5.5 million in expenses related to warranty claims for the years ended December 31, 2024 and 2023, respectively.