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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 188,648 $ 194,543
Investment securities, available-for-sale (Amortized cost: 2025: $11,161; 2024: $27,153) 10,856 26,997
Investment securities, held-to-maturity (Fair value: 2025: $1,766; 2024: $15) 1,768 15
Accrued retrospective premiums 84,454 41,253
Healthcare receivables 46,893 51,539
Prepaid expenses 15,252 13,174
Other assets, current 15,068 15,603
Total current assets 362,939 343,124
Investment securities, available-for-sale (Amortized cost: 2025: $174,988; 2024: $203,147) 175,470 201,719
Investment securities, held-to-maturity (Fair value: 2025: $12,370; 2024: $13,913) 12,526 14,343
Property and equipment, net 5,201 5,307
Other intangible assets 2,990 2,990
Other assets, non-current 15,861 13,259
Total assets 574,987 580,742
Current liabilities    
Unpaid claims 139,660 156,396
Accounts payable and accrued expenses 33,951 34,564
Accrued salaries and benefits 25,184 19,090
Other liabilities, current 3,153 3,466
Total current liabilities 201,948 213,516
Other liabilities, non-current 28,860 26,083
Total liabilities 230,808 239,599
Commitments and Contingencies (Note 12)
Stockholders' equity    
Additional paid-in capital 2,630,021 2,576,471
Accumulated other comprehensive income (loss) 177 (1,584)
Accumulated deficit (2,214,655) (2,202,803)
Less: Treasury stock, at cost; 28,132,383 and 18,752,947 shares held at June 30, 2025 and December 31, 2024, respectively (71,415) (30,991)
Total stockholders' equity 344,179 341,143
Total liabilities and stockholders' equity 574,987 580,742
Common Class A    
Stockholders' equity    
Common stock, value 42 41
Common Class B    
Stockholders' equity    
Common stock, value $ 9 $ 9