Revenue

12 Months Ended

Dec. 31, 2025

Revenue Recognition and Deferred Revenue [Abstract]

Revenue

Revenue

Disaggregation of Revenue

The following table presents the disaggregation of revenue by timing of revenue recognition (in thousands):

	Year Ended December 31,
	2025		2024		2023
Over time	$	836,190	$	727,103	$	632,762
Point in time	2,502		4,490		6,349
Total revenue	$	838,692	$	731,593	$	639,111

The Company derives revenue from four service lines:

•Private Client Services: Tax and financial services for individuals and families, focusing on client issues such as multigenerational wealth, charitable giving, and estate planning.

•Business Tax Services: Consulting and compliance services for businesses, assisting organizations with tax planning, compliance and reporting needs.

•Alternative Investment Funds: Tax and financial-related services for alternative investment funds including family offices, funds of funds, hedge funds, private equity, venture capital and real estate investment trusts.

•Valuation Services: Independent valuation analyses to assist clients in navigating tax laws and regulatory requirements.

The following table presents the disaggregation of revenue by service line (in thousands):

	Year Ended December 31,
	2025		2024		2023
Private Client Services	$	431,807	$	364,659	$	321,014
Business Tax Services	291,804		261,048		226,343
Alternative Investment Funds	72,914		68,922		58,888
Valuation Services	42,167		36,964		32,866
Total Revenue	$	838,692	$	731,593	$	639,111

The following table presents the disaggregation of revenue by region (in thousands):

	Year Ended December 31,
	2025		2024		2023
East	$	325,914	$	272,348	$	235,931
Central	159,525		135,632		115,027
West	353,253		323,613		288,153
Total revenue	$	838,692	$	731,593	$	639,111

Substantially all revenue was from services provided in the United States for the years ended December 31, 2025, 2024 and 2023.

Remaining Performance Obligations

The revenue recognition standard provides exemptions to the requirements for disclosure of the total transaction price allocated to unsatisfied performance obligations as of the reporting date for performance obligations within contracts of one

year or less. The majority of the Company’s contracts with clients have a duration of one year or less. For contracts with a stated duration exceeding one year, these agreements allow both the Company and the client to cancel or terminate without substantial penalty. Therefore, the contract duration does not extend beyond the goods and services already transferred when cancellation or termination rights exist without substantial penalty. As such, the Company does not disclose the total transaction price allocated to unsatisfied performance obligations.

Contract Balances

In the year ended December 31, 2025, the Company recognized revenue of approximately $14.7 million that was included in deferred revenue on the consolidated balance sheet as of December 31, 2024. In the year ended December 31, 2024, the Company also recognized revenue of approximately $14.3 million that was included in deferred revenue on the consolidated balance sheet as of December 31, 2023. The opening balance of deferred revenue on January 1, 2024 was $14.3 million.