XML 39 R28.htm IDEA: XBRL DOCUMENT v3.25.2
Revenue (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table provides detail of total revenue. Transactional revenue consists of revenue recognized from non-recurring sales or services that do not generate ongoing revenue and primarily includes revenue generated from moving services. Recurring revenue refers to revenue streams that are more predictable and generate revenue from customers on an ongoing basis, including revenue from insurance services management, inspection software, title insurance software, mortgage software, warranty products, and marketing services. Insurance carrier revenue consists of revenue earned through premiums collected on policies, policy fees, and commissions by the Reciprocal.
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Transactional$9,174 $9,504 15,562 $15,978 
Recurring(1) (2)99,879 66,607 180,017 144,813 
Intercompany revenue(2,035)(246)(4,015)(509)
107,018 75,865 191,564 160,282 
Insurance carrier(2)55,409 48,739 95,347 96,234 
Intercompany revenue(43,132)(13,760)(62,871)(30,229)
Total revenue
$119,295 $110,844 $224,040 $226,287 
______________________________________
(1)Revenue recognized during the three and six months ended June 30, 2025 and 2024, includes revenue that is accounted for in accordance with ASC Topic 460, Guarantees, separately from revenue from contracts with customers. Revenue accounted for under ASC Topic 460 was $8.3 million and $9.2 million for the three months ended June 30, 2025 and 2024, respectively, and $16.6 million and $18.8 million for the six months ended June 30, 2025 and 2024, respectively.
(2)Revenue recognized during the three and six months ended June 30, 2025 and 2024, includes revenue that is accounted for in accordance with ASC Topic 944, Financial Services-Insurance, separately from the revenue from contracts with customers. Revenue accounted for under ASC Topic 944 was $72.9 million and $63.3 million for the three months ended June 30, 2025 and 2024, respectively, and $138.5 million and $137.1 million for the six months ended June 30, 2025 and 2024, respectively.
Schedule of the Activity Impacting the Contract Assets
A summary of the activity impacting the contract assets during the six months ended June 30, 2025, is presented below:
Balance at December 31, 2024$1,426 
Estimated lifetime value of commissions on insurance policies sold by carriers1,138 
Cash receipts(224)
Balance at June 30, 2025$2,340 
Schedule of the Activity Impacting Deferred Revenue and Warranty Revenue
A summary of the activity impacting Software & Data segment deferred revenue balances during the six months ended June 30, 2025, is presented below:
Balance at December 31, 2024$3,435 
Revenue recognized(8,284)
Additional amounts deferred8,015 
Balance at June 30, 2025$3,166 
The following table provides balances as of the dates shown.
June 30, 2025December 31, 2024
Refundable customer deposits$13,229 $12,598 
Deferred revenue$1,089 $2,751 
Non-current deferred revenue(1)$2,222 $2,433 
____________________________________
(1)Non-current deferred revenue is included in other liabilities in the unaudited Condensed Consolidated Balance Sheets.