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Organization and Business Description<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Andersen Group Inc. was formed on April 16, 2025 for the purpose of facilitating an initial public offering (“IPO”) and other related transactions in order to operate the business of AT Umbrella LLC. Andersen Group Inc. is a holding company, and its sole material asset is its indirect ownership interests in Andersen Tax Holdings LLC through its ownership of approximately 11.4% of the Class X Umbrella Units in AT Umbrella LLC, which in turn owns all ownership interests in Andersen Tax Holdings LLC and its 100% wholly owned subsidiaries (collectively, the “Company”). The Company is a national professional services firm focused on providing a wide range of tax, valuation, financial advisory, and related consulting services (including certain services acting as a registered investment adviser). As of March 31, 2026, the Company has 27 offices in 15 states and the District of Columbia.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Prior to the Company completing its IPO and Up-C restructuring (the “Reorganization” or “Reorganization Transactions”), the Company historically conducted business through Andersen Tax Holdings LLC and its subsidiaries, including Andersen Tax LLC. Andersen Tax Holdings LLC was formed on December 31, 2007, to execute the acquisition of an existing business by MD Management LLC and MD Investment LLC (collectively, the “Management Holdcos”). On June 26, 2013, Andersen Tax LLC became a member firm in Andersen Global, a Swiss verein established under articles 60-79 of the Swiss Civil Code. Each member firm provides services in a defined geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. The Articles of Association of Andersen Global provide for the autonomy of its member firms and specifically require each member firm to retain and remain solely responsible for its own legal obligations to third parties and its partners or managing directors and employees, arising before or after the formation of Andersen Global, including all debts and obligations.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Initial Public Offering</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">On December 18, 2025, the Company completed its IPO of 12,650,000 shares of Class A common stock at an offering price of $16.00 per share, including 1,650,000 shares of Class A common stock issued pursuant to the underwriters' over-allotment option. The Company received net proceeds of $188.2 million, net of underwriting discounts and commissions of $14.2 million, but before deducting offering costs of $9.9 million. The Company used the proceeds to purchase 12,650,000 newly-issued membership units of AT Umbrella LLC (“Class X Umbrella Units”) at a price per unit equal to the IPO price, net of underwriting discounts and commissions. </div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Summary of the Reorganization and Other Transactions Completed in Connection with the IPO</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In connection with the IPO, a series of transactions comprised of a reorganization, offering and other financing transactions were completed. The following summarizes the Reorganization Transactions that were completed as of the date of IPO: </div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•Andersen Group Inc. amended and restated its certificate of incorporation, pursuant to which it is authorized to issue two series of common stock, Class A and Class B. Class A common stock has one vote per share and is entitled to economic rights. Class B common stock has ten votes per share and is not entitled to economic rights.</div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•The Management Holdcos merged into Andersen Aggregator LLC (“Aggregator”). Existing common units and profits interest units were converted to Class X Aggregator Units. A percentage of the new Class X Aggregator Units were subject to vesting conditions for active managing directors who perform services for Andersen Tax LLC.</div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•AT Umbrella LLC was formed. Andersen Aggregator LLC contributed 100% of its equity interests in Andersen Tax Holdings LLC to AT Umbrella LLC in exchange for Class X Umbrella Units. Immediately after this contribution, AT Umbrella LLC became the managing member of Andersen Tax Holdings LLC.</div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•Andersen Group Inc. issued to Andersen Aggregator LLC 98,302,500 shares of Class B common stock in exchange for the payment by Aggregator of the aggregate par value of the Class B common stock that is received.</div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•The Management Holdcos issued to each of their members a promissory note in a principal amount equal to such member’s and its related transferee's aggregated capital account balance in respect of such Management Holdco as of December 16, 2025, with repayment over a seven-year period for each family of related notes with a principal </div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify">balance of at least $550,000, either a three- or seven-year period for each family of related notes with a principal balance of less than $550,000 and a period of between two to seven years for notes issued to certain retiring and retired managing director members of the Management Holdcos (the “Member Notes”). Additionally, AT Umbrella LLC issued corresponding notes to Aggregator (the “Capital Account Notes”) with aggregate principal amounts of approximately $187.8 million, equal to the sum of the aggregate principal amounts of the Member Notes, to be paid over the same two- to seven-year period, respectively. The Capital Account Notes accrue interest between 6.31% to 7.50%.</div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•In connection with the reorganization of the Management Holdcos, Aggregator issued Class H Aggregator Units entitling certain retiring and retired managing director members of the Management Holdcos subject to certain terms and conditions, to certain cash distributions paid over a period of up to seven years relating to payment of certain post-service obligations.</div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•AT Umbrella LLC issued to Aggregator a promissory note in a principal amount of approximately $162.3 million with repayment occurring over an eight-year period relating to payment of the above-mentioned post-service obligations to certain retiring and retired managing director members of the Management Holdcos (the “Holdover Note”). The Holdover Note accrues interest at 7.63%.</div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•Andersen Group Inc. entered into a Tax Receivable Agreement (“TRA”) with Aggregator concurrent with the Reorganization Transactions, which requires the Company to pay to certain holders of Class X Umbrella Units who are or may become parties to the TRA (the “TRA Parties”) from time to time 85% of the amount of tax benefits, if any, that are actually realized (or in some circumstances that are deemed to realize) as a result of (i) any increase in tax basis in the assets of AT Umbrella LLC and its flow-through subsidiaries resulting from purchases of Class X Umbrella Units from such Class X Umbrella Unit holders with the proceeds of the IPO or exchanges of Class X Umbrella Units for shares of Class A common stock or cash in the future; and (ii) certain other tax benefits related to entering into the TRA, including tax benefits attributable to payments that the Company will make under the TRA.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Class X Umbrella Units held by pre-IPO common unitholders and profits interest units at AT Umbrella LLC (“LTIP Units”) are exchangeable for Class A common stock from Andersen Group Inc. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Reorganization Transactions were accounted for as a transaction between entities under common control. As a result, the financial statements for periods prior to the IPO and the Reorganization have been adjusted to combine the previously separate entities for presentation purposes. As the managing member, Andersen Group Inc. operates and controls all of the business and affairs, and through AT Umbrella LLC and its subsidiaries, conducts the business of Andersen Tax LLC. Andersen Group Inc. consolidates AT Umbrella LLC and its subsidiaries in its consolidated financial statements and reports a redeemable noncontrolling interest related to the Class X Umbrella Units held by the pre-IPO common unitholders and the LTIP Units in the consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The following summarizes the other transactions completed in connection with the IPO:</div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•AT Umbrella LLC granted LTIP Units to Aggregator in connection with the earlier appointment of additional managing directors during 2025, and Aggregator issued corresponding Aggregator LTIP Units to such managing directors. Andersen Group Inc. issued to Aggregator shares of Class B common stock equal in number to the maximum number of Class X Umbrella Units issuable upon exchange of such LTIP Units issued to Aggregator in exchange for the payment by Aggregator of the aggregate par value of the Class B common stock that is received. LTIP Units in AT Umbrella are economically similar to stock options. Each LTIP Unit has a per unit hurdle price, which is economically similar to the exercise price of a stock option. </div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt">•Andersen Group Inc. granted 5,440,720 restricted stock units (RSUs) under the 2025 Equity Incentive Plan concurrent with the IPO.</div>

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Summary of Significant Accounting Policies<div style="margin-bottom:6pt;margin-top:6pt;padding-left:20.16pt">Significant Accounting Policies</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">There have been no material changes in the Company’s significant accounting policies as of and for the three months ended March 31, 2026, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission ("SEC") on March 27, 2026.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Basis of Presentation</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and applicable rules and regulations of the SEC regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes for the year ended December 31, 2025 included in the Company’s Annual Report on Form 10-K. The Company’s business experiences seasonal fluctuations in revenue and net income, with a more significant portion of revenue typically realized in the first and third quarters of each year predominantly due to timing of major tax filing deadlines. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial condition, results of operations, and cash flows for the interim periods presented, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2026. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include but are not limited to the assessment of the recoverability of goodwill and intangible assets, valuation and expected lives of tangible and intangible assets, allowance for credit losses, and certain accrued liabilities. Changes in circumstances could cause actual results to differ materially from these estimates. The Company has consistently applied the accounting policies for the periods presented as described in the consolidated financial statements contained in the annual report for the year ended December 31, 2025.</div><div style="text-align:justify;text-indent:20.16pt">The unaudited condensed consolidated financial statements include the results of the Company and its subsidiaries. As the Reorganization Transactions are considered transactions between entities under common control, the financial statements for periods prior to the IPO and Reorganization Transactions have been adjusted to combine the previously separate entities for presentation purposes. Prior to the Reorganization Transactions, Andersen Group Inc. had no operations. All significant intercompany transactions and balances have been eliminated during consolidation. </div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Principles of Consolidation and Noncontrolling Interest</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The accompanying unaudited condensed consolidated financial statements include the accounts of AT Umbrella LLC and its 100% wholly owned subsidiaries. AT Umbrella LLC is a Variable Interest Entity (“VIE”), as defined in ASC Topic 810 (“ASC 810”), Consolidation. ASC 810 requires the consolidation of VIEs in which the entity is defined as the primary beneficiary of the VIE. To be a primary beneficiary, an entity must have the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, among other factors. The Company has assessed its variable interests in this entity and determined that the Company is the primary beneficiary of AT Umbrella LLC and its subsidiaries. In completing the assessment, the Company identified the activities that it considers most significant to the economic performance of this entity and determined that the Company has the power to direct those activities. As a result, AT Umbrella LLC and its subsidiaries’ financial position and results of operations are consolidated in the Company’s unaudited condensed consolidated balance sheet and unaudited condensed consolidated statement of operations.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">All significant intercompany balances and transactions have been eliminated in consolidation. The assets and liabilities of AT Umbrella LLC represent substantially all of the consolidated assets and liabilities of Andersen Group, Inc. Andersen Group, Inc., has not had any material operations on a standalone basis since its inception, and all of the operations of the Company are carried out by AT Umbrella LLC and its subsidiaries.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">A noncontrolling interest in a consolidated subsidiary represents the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to the Company. Redeemable noncontrolling interest was classified as temporary equity at December 31, 2025 because the Class X Umbrella Units contained certain redemption features that were not solely within the control of the Company. On March 24, 2026, an amendment to the AT Umbrella LLC Limited Liability Company Agreement was executed. The amendment modified the redemption provisions of Class X Umbrella Units held by Aggregator, which allow for the Company to elect for settlement in cash instead of settlement in the Company's Class A common stock. Under the revised terms, the Company may elect to redeem Class X Umbrella Units held by Aggregator for cash only if the cash proceeds are sourced from a qualifying offering of its Class A common stock. As a result of these changes, the redeemable noncontrolling interest was prospectively reclassified from temporary equity into permanent equity as the conditions for temporary equity classification are no longer met. See Note 11 for further information on the redeemable noncontrolling interest and the related accounting policies prior to the reclassification from temporary equity into permanent equity.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The presentation of net income is modified to present earnings and other comprehensive income attributed to controlling and noncontrolling interests.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The noncontrolling interest on the unaudited condensed consolidated statement of operations represents the portion of earnings or loss attributable to the ownership interests in AT Umbrella LLC held by Aggregator. Net income or loss attributable to noncontrolling interests is allocated in accordance with the contractual distribution rights of the holders under AT Umbrella LLC's Limited Liability Company Agreement. Those contractual rights reflect the relative participation of Class X holders and, when applicable, LTIP Unit holders. LTIP Unit holders participate only after the applicable contractual hurdle amounts are satisfied, and certain LTIP awards include catch-up provisions that may affect the allocation of earnings after those hurdle amounts are met. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company does not have any controlling interest in, and is not the primary beneficiary of, any other member firm of Andersen Global. Accordingly, these entities are considered related parties solely as a result of the memberships in the Swiss verein discussed above. These member firm entities are not consolidated in the Company’s unaudited condensed consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">One of the non-U.S. Andersen Global member firms is a VIE. The Company has assessed its variable interests in this entity and determined that the Company is not the primary beneficiary. In completing the assessment, the Company identified activities it considers most significant to the economic performance of this entity and determined that the Company does not have the power to direct those activities. As a result, that entity’s financial position and results of operations are not consolidated in the Company’s unaudited condensed consolidated balance sheet and unaudited condensed consolidated statement of operations. The Company's carrying value and exposure to loss is comprised of loans to the VIE included in loans and notes receivable from affiliates, net of allowance for credit losses and amounts due from the VIE included in prepaid expenses and other current assets. As of March 31, 2026 and December 31, 2025, the total carrying value of these items was $0.2 million and $0.2 million, respectively. As of March 31, 2026 and December 31, 2025, the Company’s maximum exposure to loss related to the loans receivable and amounts due from the VIE was $7.7 million and $6.9 million, respectively, excluding the allowance for credit loss on the loans receivable from the VIE.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Emerging Growth Company Status</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it is no longer an emerging growth company or affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these unaudited condensed consolidated financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective dates for new or revised accounting standards based on public company effective dates.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Segment Information</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">ASC Topic 280, Segment Reporting establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise where discrete financial information is available and evaluated regularly by the Chief Operating Decision Maker (“CODM”), in deciding how to allocate resources and in assessing performance. The Company’s CODM is the Chief Executive Officer (“CEO”). The Company operates in one segment based upon the financial information used by its CODM in evaluating the financial performance of its business and allocating resources. The single segment represents the Company’s core business of providing tax, valuation, financial advisory and related consulting services to its clients. See Note 18 for further information on the Company’s reporting segment.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Amounts Payable to Related Parties Pursuant to Tax Receivable Agreement</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In connection with the IPO and Reorganization Transactions, the Company entered into the TRA with certain pre-IPO owners that provides for the payment to certain holders of Class X Umbrella Units who are or may become parties to the TRA from time to time 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that the Company realizes or is deemed to realize (determined by using assumptions regarding combined state and local income tax rates) as a result of (i) any increase in tax basis in the assets of AT Umbrella LLC and its flow-through subsidiaries resulting from purchases of Class X Umbrella Units from such Class X Umbrella Unit holders with the proceeds of the IPO or resulting from exchanges of Class X Umbrella Units for at Andersen Group Inc.’s election, shares of Class A common stock or cash in the future; and (ii) certain other tax benefits related to entering into the TRA, including tax benefits attributable to payments that are made under the TRA. The TRA will make certain simplifying assumptions regarding the determination of the cash savings that are realized or are deemed to realize from the covered tax attributes, which may result in payments pursuant to the TRA in excess of those that would result if such assumptions were not made. No party to the TRA will reimburse the Company for any payments previously made if such basis increases or other benefits are subsequently disallowed, except that excess payments made to the TRA parties will be netted against future payments that would otherwise be made under the TRA, if any, after determination of such excess. The Company accounts for amounts payable under the TRA in accordance with ASC Topic 450, Contingencies. As such, subsequent changes in the fair value of the TRA liability between reporting periods are recognized in the consolidated statement of operations.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company has not yet incurred a liability in connection with the TRA.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Earnings per Share</div><div style="text-align:justify;text-indent:18pt">Basic earnings per share is calculated by dividing net income by the weighted-average number of shares of the Company’s Class A common stock outstanding for the period, without consideration for potential dilutive shares of common stock. Shares of Class B common stock and RSUs are not entitled to receive any distributions or dividends and are therefore excluded from this presentation since they are not participating securities. Diluted earnings per share is computed by dividing net income attributable to holders of Class A common stock by the weighted average number of shares of Class A common stock outstanding, plus the effect of all dilutive securities as calculated using the if-converted and treasury stock methods, as appropriate.</div><div style="text-align:justify"> </div><div style="text-align:justify;text-indent:18pt">Participating securities exist at AT Umbrella LLC, a non-wholly owned consolidated subsidiary of the Company. As such, the Company applies the more dilutive of the treasury stock or if-converted methods and the two-class method to allocate undistributed earnings or losses of AT Umbrella LLC. In doing so, the Company determines the portion of AT Umbrella LLC’s earnings attributable to the Company and accordingly reflects in earnings available to common stockholders in the Company’s calculation of basic and diluted earnings per share.</div><div style="text-align:justify"> </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company did not include earnings per unit for the pre-IPO period as part of its financial statements. All earnings prior to the completion date of the IPO, were entirely allocable to the noncontrolling interest and, as a result, earnings per share information is not applicable for reporting periods prior to this date, including the three months ended March 31, 2025. Consequently, only earnings per share for net earnings for the three months ended March 31, 2026 are presented. </div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Recently Issued Accounting Pronouncements</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Changes to U.S. GAAP are established by the Financial Accounting Standard Board ("FASB") in the form of Accounting Standards Updates ("ASUs") to the FASB Accounting Standards Codification ("Codification"). ASUs issued which are not specifically listed below were assessed and have already been adopted in a prior period or determined to be either not applicable or are not expected to have a material impact on the Company’s consolidated financial statements and related disclosures. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which added a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset when estimating expected credit losses for current accounts receivable and current contract assets. The guidance is effective for all entities for annual periods beginning after December 15, 2025. The Company adopted ASU 2025-05 as of January 1, 2026 and such adoption did not have a significant impact on the Company's condensed consolidated financial statements. </div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Recent Accounting Pronouncements Not Yet Adopted</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. Early adoption is permitted. Upon adoption, the guidance may be applied prospectively or retrospectively. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. As an emerging growth company, the Company has elected the extended transition period for complying with new or revised accounting standards and this ASU has not yet been adopted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In November 2024, the FASB issued ASU 2024-03, Income Statement (Topic 220): Reporting Comprehensive Income - Expense Disaggregation Disclosures, Disaggregation of Income Statement Expenses ("ASU 2024-03"), which requires public business entities to disclose, in interim and annual reporting periods, additional information about certain expenses in the consolidated financial statements. The amendments in this ASU will be effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted and is effective on either a prospective basis or retrospective basis. The Company is currently evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In May 2025, the FASB issued ASU No. 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity (“VIE”), which provides clarifying guidance on determining the accounting acquirer in certain transactions involving VIEs. The update aims to improve consistency and comparability in financial reporting. The guidance will be effective for all entities for annual periods beginning after December 15, 2026, including interim periods within those annual periods. Early adoption is permitted. Upon adoption, the guidance will be applied prospectively. The Company is currently evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements in Accounting for Internal-Use Software, which replaced the “project stage” model with a principles-based framework for cost recognition and capitalization of internal-use software. The update requires companies to capitalize internal-use software costs when management authorizes and commits funding for the software project and when it is probable the project will be completed and the software will be used to perform the function intended. The guidance will be effective for all entities for annual periods beginning after December 15, 2027, including interim periods within those annual periods. Early adoption is permitted. Upon adoption, the guidance may be applied prospectively or retrospectively. The Company is currently evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In September 2025, the FASB issued ASU No. 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606): Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration From a Customer in a Revenue Contract. ASU 2025-07 introduces guidance for applying derivative </div><div style="margin-bottom:12pt;text-align:justify">accounting to contracts that include features tied to the operations or activities of one of the parties to the contract. It also aims to reduce diversity in how share-based payments are accounted for in revenue contracts. ASU 2025-07 will be effective for the annual periods beginning after December 15, 2026 with early adoption permitted. The Company is currently evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270) Narrow- Scope Improvements. The amendments in this ASU do not change the fundamental nature of interim reporting or expand or reduce current interim disclosure. The amendments in this ASU clarify the guidance in ASC Topic 270 by providing a comprehensive list of required interim disclosures and codifying a disclosure principle that requires the Company to disclose events and changes that occur after the end of the most recent annual reporting period that have a material impact on its consolidated financial statements. The amendments in this ASU are effective for interim periods within annual reporting periods beginning after December 15, 2027. The Company is currently evaluating the new guidance to determine the impact it may have on its consolidated financial statements. </div>In December 2025, the FASB issued ASU 2025-12, Codification Improvements (Topic 815). The amendments in this ASU update the FASB Accounting Standards Codification for a broad range of Topics arising from technical corrections, unintended application of the Codification, clarifications, and other minor improvements. The amendments in this ASU are effective for all entities for annual periods beginning after December 15, 2026, and interim periods within those annual periods. The Company is currently evaluating the new guidance to determine the impact it may have on its consolidated financial statements.

One of the non-U.S. Andersen Global member firms is a VIE. The Company has assessed its variable interests in this entity and determined that the Company is not the primary beneficiary. In completing the assessment, the Company identified activities it considers most significant to the economic performance of this entity and determined that the Company does not have the power to direct those activities. As a result, that entity’s financial position and results of operations are not consolidated in the Company’s unaudited condensed consolidated balance sheet and unaudited condensed consolidated statement of operations. The Company's carrying value and exposure to loss is comprised of loans to the VIE included in loans and notes receivable from affiliates, net of allowance for credit losses and amounts due from the VIE included in prepaid expenses and other current assets.

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<div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Segment Information</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">ASC Topic 280, Segment Reporting establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise where discrete financial information is available and evaluated regularly by the Chief Operating Decision Maker (“CODM”), in deciding how to allocate resources and in assessing performance. The Company’s CODM is the Chief Executive Officer (“CEO”). The Company operates in one segment based upon the financial information used by its CODM in evaluating the financial performance of its business and allocating resources. The single segment represents the Company’s core business of providing tax, valuation, financial advisory and related consulting services to its clients. See Note 18 for further information on the Company’s reporting segment.</div>

<div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Amounts Payable to Related Parties Pursuant to Tax Receivable Agreement</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In connection with the IPO and Reorganization Transactions, the Company entered into the TRA with certain pre-IPO owners that provides for the payment to certain holders of Class X Umbrella Units who are or may become parties to the TRA from time to time 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that the Company realizes or is deemed to realize (determined by using assumptions regarding combined state and local income tax rates) as a result of (i) any increase in tax basis in the assets of AT Umbrella LLC and its flow-through subsidiaries resulting from purchases of Class X Umbrella Units from such Class X Umbrella Unit holders with the proceeds of the IPO or resulting from exchanges of Class X Umbrella Units for at Andersen Group Inc.’s election, shares of Class A common stock or cash in the future; and (ii) certain other tax benefits related to entering into the TRA, including tax benefits attributable to payments that are made under the TRA. The TRA will make certain simplifying assumptions regarding the determination of the cash savings that are realized or are deemed to realize from the covered tax attributes, which may result in payments pursuant to the TRA in excess of those that would result if such assumptions were not made. No party to the TRA will reimburse the Company for any payments previously made if such basis increases or other benefits are subsequently disallowed, except that excess payments made to the TRA parties will be netted against future payments that would otherwise be made under the TRA, if any, after determination of such excess. The Company accounts for amounts payable under the TRA in accordance with ASC Topic 450, Contingencies. As such, subsequent changes in the fair value of the TRA liability between reporting periods are recognized in the consolidated statement of operations.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company has not yet incurred a liability in connection with the TRA.</div>

<div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Earnings per Share</div><div style="text-align:justify;text-indent:18pt">Basic earnings per share is calculated by dividing net income by the weighted-average number of shares of the Company’s Class A common stock outstanding for the period, without consideration for potential dilutive shares of common stock. Shares of Class B common stock and RSUs are not entitled to receive any distributions or dividends and are therefore excluded from this presentation since they are not participating securities. Diluted earnings per share is computed by dividing net income attributable to holders of Class A common stock by the weighted average number of shares of Class A common stock outstanding, plus the effect of all dilutive securities as calculated using the if-converted and treasury stock methods, as appropriate.</div><div style="text-align:justify"> </div><div style="text-align:justify;text-indent:18pt">Participating securities exist at AT Umbrella LLC, a non-wholly owned consolidated subsidiary of the Company. As such, the Company applies the more dilutive of the treasury stock or if-converted methods and the two-class method to allocate undistributed earnings or losses of AT Umbrella LLC. In doing so, the Company determines the portion of AT Umbrella LLC’s earnings attributable to the Company and accordingly reflects in earnings available to common stockholders in the Company’s calculation of basic and diluted earnings per share.</div>The Company did not include earnings per unit for the pre-IPO period as part of its financial statements. All earnings prior to the completion date of the IPO, were entirely allocable to the noncontrolling interest and, as a result, earnings per share information is not applicable for reporting periods prior to this date, including the three months ended March 31, 2025. Consequently, only earnings per share for net earnings for the three months ended March 31, 2026 are presented.

<div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Recently Issued Accounting Pronouncements</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Changes to U.S. GAAP are established by the Financial Accounting Standard Board ("FASB") in the form of Accounting Standards Updates ("ASUs") to the FASB Accounting Standards Codification ("Codification"). ASUs issued which are not specifically listed below were assessed and have already been adopted in a prior period or determined to be either not applicable or are not expected to have a material impact on the Company’s consolidated financial statements and related disclosures. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which added a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset when estimating expected credit losses for current accounts receivable and current contract assets. The guidance is effective for all entities for annual periods beginning after December 15, 2025. The Company adopted ASU 2025-05 as of January 1, 2026 and such adoption did not have a significant impact on the Company's condensed consolidated financial statements. </div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Recent Accounting Pronouncements Not Yet Adopted</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. Early adoption is permitted. Upon adoption, the guidance may be applied prospectively or retrospectively. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. As an emerging growth company, the Company has elected the extended transition period for complying with new or revised accounting standards and this ASU has not yet been adopted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In November 2024, the FASB issued ASU 2024-03, Income Statement (Topic 220): Reporting Comprehensive Income - Expense Disaggregation Disclosures, Disaggregation of Income Statement Expenses ("ASU 2024-03"), which requires public business entities to disclose, in interim and annual reporting periods, additional information about certain expenses in the consolidated financial statements. The amendments in this ASU will be effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted and is effective on either a prospective basis or retrospective basis. The Company is currently evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In May 2025, the FASB issued ASU No. 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity (“VIE”), which provides clarifying guidance on determining the accounting acquirer in certain transactions involving VIEs. The update aims to improve consistency and comparability in financial reporting. The guidance will be effective for all entities for annual periods beginning after December 15, 2026, including interim periods within those annual periods. Early adoption is permitted. Upon adoption, the guidance will be applied prospectively. The Company is currently evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements in Accounting for Internal-Use Software, which replaced the “project stage” model with a principles-based framework for cost recognition and capitalization of internal-use software. The update requires companies to capitalize internal-use software costs when management authorizes and commits funding for the software project and when it is probable the project will be completed and the software will be used to perform the function intended. The guidance will be effective for all entities for annual periods beginning after December 15, 2027, including interim periods within those annual periods. Early adoption is permitted. Upon adoption, the guidance may be applied prospectively or retrospectively. The Company is currently evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In September 2025, the FASB issued ASU No. 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606): Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration From a Customer in a Revenue Contract. ASU 2025-07 introduces guidance for applying derivative </div><div style="margin-bottom:12pt;text-align:justify">accounting to contracts that include features tied to the operations or activities of one of the parties to the contract. It also aims to reduce diversity in how share-based payments are accounted for in revenue contracts. ASU 2025-07 will be effective for the annual periods beginning after December 15, 2026 with early adoption permitted. The Company is currently evaluating the potential impact that the adoption of this standard will have on its consolidated financial statements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270) Narrow- Scope Improvements. The amendments in this ASU do not change the fundamental nature of interim reporting or expand or reduce current interim disclosure. The amendments in this ASU clarify the guidance in ASC Topic 270 by providing a comprehensive list of required interim disclosures and codifying a disclosure principle that requires the Company to disclose events and changes that occur after the end of the most recent annual reporting period that have a material impact on its consolidated financial statements. The amendments in this ASU are effective for interim periods within annual reporting periods beginning after December 15, 2027. The Company is currently evaluating the new guidance to determine the impact it may have on its consolidated financial statements. </div>In December 2025, the FASB issued ASU 2025-12, Codification Improvements (Topic 815). The amendments in this ASU update the FASB Accounting Standards Codification for a broad range of Topics arising from technical corrections, unintended application of the Codification, clarifications, and other minor improvements. The amendments in this ASU are effective for all entities for annual periods beginning after December 15, 2026, and interim periods within those annual periods. The Company is currently evaluating the new guidance to determine the impact it may have on its consolidated financial statements.

Revenue<div style="margin-bottom:6pt;margin-top:6pt;padding-left:20.15pt">Disaggregation of Revenue</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table presents the disaggregation of revenue by timing of revenue recognition (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr style="height:12pt"> <td colspan="3" rowspan="2" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended March 31,</td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Over time </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">239,352 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">207,512 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Point in time </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,394 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">555 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total revenue </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">240,746 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">208,067 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The Company derives revenue from four service lines:</div><div style="margin-bottom:6pt;padding-left:38.15pt;text-align:justify;text-indent:-18pt">•Private Client Services: Tax and financial services for individuals and families, focusing on client issues such as multigenerational wealth, charitable giving, and estate planning.</div><div style="margin-bottom:6pt;padding-left:38.15pt;text-align:justify;text-indent:-18pt">•Business Tax Services: Consulting and compliance services for businesses, assisting organizations with tax planning, compliance and reporting needs.</div><div style="margin-bottom:6pt;padding-left:38.15pt;text-align:justify;text-indent:-18pt">•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.</div><div style="margin-bottom:12pt;padding-left:38.15pt;text-align:justify;text-indent:-18pt">•Valuation Services: Independent valuation analyses to assist clients in navigating tax laws and regulatory requirements.</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table presents the disaggregation of revenue by service line (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr style="height:12pt"> <td colspan="3" rowspan="2" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended March 31,</td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Private Client Services </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">123,177 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">104,191 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Business Tax Services </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">80,635 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">71,703 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Alternative Investment Funds </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25,193 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22,166 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Valuation Services </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,741 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,007 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total revenue </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">240,746 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">208,067 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table presents the disaggregation of revenue by region (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr style="height:12pt"> <td colspan="3" rowspan="2" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended March 31,</td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>East </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">101,485 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">82,887 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Central </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39,374 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35,437 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>West </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">99,887 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">89,743 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total revenue </div></td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">240,746 </td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">208,067 </td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Substantially all revenue was from services provided in the United States for the three months ended March 31, 2026 and 2025.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Remaining Performance Obligations</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">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.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Contract Balances</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In the three months ended March 31, 2026, the Company recognized revenue of approximately $7.8 million that was included in deferred revenue on the consolidated balance sheet as of December 31, 2025. In the three months ended March 31, 2025, the Company recognized revenue of approximately $9.8 million that was included in deferred revenue on the consolidated balance sheet as of December 31, 2024. The opening balance of deferred revenue on January 1, 2025 was $15.6 million.</div>

<div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table presents the disaggregation of revenue by timing of revenue recognition (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr style="height:12pt"> <td colspan="3" rowspan="2" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended March 31,</td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Over time </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">239,352 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">207,512 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Point in time </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,394 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">555 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total revenue </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">240,746 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">208,067 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table presents the disaggregation of revenue by service line (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr style="height:12pt"> <td colspan="3" rowspan="2" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended March 31,</td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Private Client Services </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">123,177 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">104,191 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Business Tax Services </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">80,635 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">71,703 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Alternative Investment Funds </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">25,193 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">22,166 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Valuation Services </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">11,741 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">10,007 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total revenue </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">240,746 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">208,067 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table presents the disaggregation of revenue by region (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr style="height:12pt"> <td colspan="3" rowspan="2" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended March 31,</td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>East </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">101,485 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">82,887 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Central </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">39,374 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35,437 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>West </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">99,887 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">89,743 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total revenue </div></td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">240,746 </td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">208,067 </td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

239352000

207512000

1394000

555000

240746000

208067000

123177000

104191000

80635000

71703000

25193000

22166000

11741000

10007000

240746000

208067000

101485000

82887000

39374000

35437000

99887000

89743000

240746000

208067000

7800000

9800000

15600000

Accounts Receivable, Net<div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Accounts receivable, net consists of (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr style="height:12pt"> <td colspan="3" rowspan="2" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, </td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Accounts receivable </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">144,027 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">107,960 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Unbilled services</div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">72,421 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,134 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total accounts receivable </div></td> <td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">216,448 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">125,094 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Allowance for credit loss</div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(2,881)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,676)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Total accounts receivable, net </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">213,567 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">123,418 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table summarizes changes in the allowance for credit loss (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance at beginning of period</div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">1,676 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,071 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Addition to / (reduction in) provision </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,261 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(1,198)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Write-offs, net of recoveries </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(56)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(197)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle">Balance at end of period</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,881 </td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">1,676 </td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The opening balance of accounts receivable, net on January 1, 2025 was $117.8 million.</div>

144027000

107960000

72421000

17134000

216448000

125094000

2881000

1676000

213567000

123418000

1676000

3071000

1261000

-1198000

56000 197000

2881000

1676000

117800000

Financial Instruments and Fair Value Measurements<div style="margin-bottom:6pt;margin-top:6pt;padding-left:20.16pt">Assets and Liabilities Measured at Fair Value on a Recurring Basis</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:44.354%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.085%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="21" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">March 31, 2026</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">Level 1</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">Level 2</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">Level 3</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">Total</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top">Assets</td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Cash equivalents</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Money market funds</td> <td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">161,232 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">— </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">— </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">161,232 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:44.354%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.085%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="21" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">December 31, 2025</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">Level 1</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">Level 2</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">Level 3</td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top">Total</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top">Assets</td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Cash equivalents</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top">Money market funds</td> <td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">212,232 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">— </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">— </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:top">212,232 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Investments in Held-to-Maturity Debt Securities</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The Company holds U.S. Treasury securities that are “off-the-run” as they were issued before the most recent issue and were still outstanding at measurement day. The Company classifies the fair value of these items as Level 2 fair value measurements as the pricing is obtained from a third-party service that uses observable data. The following table summarizes the amortized cost, unrealized gains, unrealized losses, and fair value in U.S. Treasury securities classified as held-to-maturity (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:44.354%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.085%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="21" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31, 2026</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Amortized</div><div style="text-align:center">cost</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrealized</div><div style="text-align:center">gains</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrealized</div><div style="text-align:center">losses</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Fair</div><div style="text-align:center">value</div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Due within one year or less </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,098 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,108 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Due between one and two years </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total held-to-maturity securities </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,098 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,108 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:44.354%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.085%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="21" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Amortized</div><div style="text-align:center">cost</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrealized</div><div style="text-align:center">gains</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrealized</div><div style="text-align:center">losses</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Fair</div><div style="text-align:center">value</div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Due within one year or less </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,179 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">20 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,199 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Due between one and two years </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total held-to-maturity securities </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,179 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">20 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,199 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Deferred Consideration Liability</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The fair value of the Company’s deferred consideration liability included within other current liabilities and other liabilities was approximately $0.8 million and $0.7 million as of March 31, 2026 and December 31, 2025, respectively, based on unobservable inputs and categorized as Level 3.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Loans and Notes Receivable</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Loans and notes receivable are comprised of loans and advances made to member firms of Andersen Global and employees of the Company. The Company classifies the fair value of these items as Level 3 fair value measurements as these are valued using a discounted cash flow methodology less a reserve for expected credit losses. Based on the reserve methodology and the variable rates included within the population, the carrying value of these receivables approximates fair value. Refer to Note 15 for further detail.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Long-Term Debt</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Long-term debt includes a revolving line of credit with a financial institution, Capital Account Notes and Holdover Note in connection with the reorganization of the Management Holdcos. Refer to Note 9 for further detail.</div>

161232000

212232000

The following table summarizes the amortized cost, unrealized gains, unrealized losses, and fair value in U.S. Treasury securities classified as held-to-maturity (in thousands):<div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:44.354%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.085%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="21" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31, 2026</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Amortized</div><div style="text-align:center">cost</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrealized</div><div style="text-align:center">gains</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrealized</div><div style="text-align:center">losses</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Fair</div><div style="text-align:center">value</div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Due within one year or less </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,098 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,108 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Due between one and two years </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total held-to-maturity securities </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,098 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">5,108 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:44.354%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.085%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="21" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Amortized</div><div style="text-align:center">cost</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrealized</div><div style="text-align:center">gains</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Unrealized</div><div style="text-align:center">losses</div></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Fair</div><div style="text-align:center">value</div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Due within one year or less </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,179 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">20 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,199 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Due between one and two years </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total held-to-maturity securities </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,179 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">20 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,199 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

5098000

10000 0

5108000

0 0 0 0

5098000

10000

5108000

8179000

20000 0

8199000

0 0 0 0

8179000

20000

8199000

800000

700000

Property and Equipment, Net<div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Property and equipment, net consists of (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Leasehold improvements</div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">38,958 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">38,420 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Computer equipment </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,920 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">18,996 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Furniture and fixtures </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,870 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">9,493 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Computer software </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,971 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,177 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Office equipment </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">918 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,060 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Assets under construction </td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">8,851 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,707 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total property and equipment </div></td> <td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">78,488 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">75,853 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Less: accumulated depreciation and amortization </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(39,512)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(40,158)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Total property and equipment, net </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle">38,976 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle">35,695 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Depreciation and amortization expense for the three months ended March 31, 2026 and 2025 was $2.2 million and $1.9 million, respectively. As of March 31, 2026 and December 31, 2025, the amount of office equipment under finance leases was not material.</div>

38958000

38420000

17920000

18996000

8870000

9493000

2971000

3177000

918000

1060000

8851000

4707000

78488000

75853000

39512000

40158000

38976000

35695000

2200000

1900000

Intangible Assets, Net<div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Intangible assets, net as of March 31, 2026 consist of (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:58.142%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.084%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Gross Carrying Value</div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Accumulated</div><div style="text-align:center">Amortization</div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Net</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Customer relationships </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">24,271 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">23,933 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">338 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Tradenames and trademarks </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Intellectual property </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">115 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Capitalized internal use software </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,407 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">136 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,271 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total intangible assets, net </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">30,223 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">27,579 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,644 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Intangible assets, net as of December 31, 2025 consist of (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:58.142%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.084%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Gross Carrying Value</div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Accumulated</div><div style="text-align:center">Amortization</div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Net</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Customer relationships </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">24,271 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">23,860 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">411 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Tradenames and trademarks </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Intellectual property </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">150 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">108 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Capitalized internal use software </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,211 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">121 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,090 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total intangible assets, net </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">30,027 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">27,484 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,543 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Amortization expense for intangible assets for March 31, 2026 and 2025 was $0.1 million, and $0.2 million, respectively.</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Scheduled remaining amortization expense is presented in the table below (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Fiscal Year</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Amortization</div><div style="text-align:center">Expense</div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Remainder of 2026</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">287 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">2027</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">138 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total </div></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">425 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">As of March 31, 2026, the Company capitalized internally developed software of $2.2 million for software that is not yet ready for its intended use. This software has a useful life of three years and is expected to commence amortization during the year ending December 31, 2027.</div>

<div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Intangible assets, net as of March 31, 2026 consist of (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:58.142%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.084%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Gross Carrying Value</div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Accumulated</div><div style="text-align:center">Amortization</div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Net</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Customer relationships </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">24,271 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">23,933 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">338 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Tradenames and trademarks </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Intellectual property </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">150 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">115 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">35 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Capitalized internal use software </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,407 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">136 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,271 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total intangible assets, net </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">30,223 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">27,579 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,644 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Intangible assets, net as of December 31, 2025 consist of (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:58.142%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.084%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Gross Carrying Value</div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Accumulated</div><div style="text-align:center">Amortization</div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">Net</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Customer relationships </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">24,271 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">23,860 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">411 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Tradenames and trademarks </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">3,395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Intellectual property </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">150 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">108 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">42 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Capitalized internal use software </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,211 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">121 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,090 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total intangible assets, net </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">30,027 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">27,484 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">2,543 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

24271000

23933000

338000

3395000

150000

115000

35000

2407000

136000

2271000

30223000

27579000

2644000

24271000

23860000

411000

3395000

150000

108000

42000

2211000

121000

2090000

30027000

27484000

2543000

100000

200000

287000

138000

425000

2200000

P3Y

Other Balance Sheet Components<div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Prepaid expenses and other current assets as of March 31, 2026 and December 31, 2025 consist of the following (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Prepaid expenses </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">18,807 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">20,686 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Due from related parties</div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">6,755 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,156 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Other current assets</div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,634 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,846 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Total prepaid expenses and other current assets </div></td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">28,196 </td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">29,688 </td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Other current liabilities as of March 31, 2026 and December 31, 2025 consist of the following (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Deferred compensation</div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">1,512 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">2,450 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Due to related parties</div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,220 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">723 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Deferred consideration</div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">800 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">800 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Income tax payable</div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">2,772 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">663 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Finance lease liabilities</div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">78 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">31 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div>Other current liabilities</div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">3,238 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">1,245 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Total other current liabilities </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">9,620 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">5,912 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

18807000

20686000

6755000

5156000

2634000

3846000

28196000

29688000

1512000

2450000

1220000

723000

800000 800000

2772000

663000

78000

31000

3238000

1245000

9620000

5912000

Long-Term Debt<div style="margin-bottom:6pt;margin-top:6pt;padding-left:20.16pt">Revolving Line of Credit</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In the normal course of business, the Company maintains a $20.0 million revolving line of credit (the “Credit Agreement”) with a financial institution. The Credit Agreement is collateralized by substantially all the assets of the Company.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Credit Agreement includes a sublimit of $5.0 million for standby letters of credit, and the interest rate for cash borrowing under the Credit Agreement is the Prime rate with a floor of 5.0%. As of March 31, 2026 and December 31, 2025, the Company had outstanding standby letters of credit of $1.3 million and $1.3 million, respectively. The Company had no cash borrowings as of March 31, 2026 and December 31, 2025. The Company’s outstanding letter of credit is subject to a commitment fee of 1.5% per annum. These fees are included in sales, general and administrative expenses and are immaterial for the three months ended March 31, 2026 and 2025.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In February 2026, the Company amended the Credit Agreement to extend through June 2026. The extension also modified certain terms relating to covenant requirements.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">During the three months ended March 31, 2026 and 2025, the Company had no uncured events of default with respect to the financial covenants required by the Credit Agreement.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Capital Account Notes</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In connection with the reorganization of the Management Holdcos, Aggregator issued Class X Aggregator Units to equity holders of the Management Holdcos who were current Managing Directors and related persons and issued Member Notes representing the undistributed capital account balance payable to all equity holders of the Management Holdcos who had an outstanding capital account balance. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">On December 16, 2025, AT Umbrella LLC issued corresponding Capital Account Notes, which are promissory notes to Aggregator with aggregate principal amounts of $187.8 million. The Capital Account Notes are amortized over two to seven years and bear annual interest rates between 6.31% to 7.50%. Payments are made quarterly, consisting of both principal and accrued interest. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company may prepay the outstanding principal amounts partially or in full at any time without penalty or premium. Early partial prepayments are applied to reduce the last maturing principal installments first.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In the event of default, including non-payment, breach of representations, or insolvency events, the noteholder may declare the entire principal, accrued interest, and other amounts immediately due and payable. Furthermore, the obligations under the Capital Account Notes are subordinated to AT Umbrella LLC’s senior indebtedness.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Capital Account Notes are governed under the laws of the State of Delaware and are subject to additional terms and conditions as outlined in the original agreements.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Holdover Note</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In connection with the reorganization of the Management Holdcos, Aggregator issued Class H Aggregator Units entitling certain retiring and retired managing director members of the Management Holdcos subject to certain terms and conditions, to certain cash distributions paid over a period of up to seven years relating to payment of certain post-service obligations.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">On December 16, 2025, AT Umbrella LLC issued to Aggregator the Holdover Note in a principal amount of $162.3 million with repayment occurring over an eight-year period relating to payment of the above-mentioned post-service obligations to certain retiring and retired managing director members of the Management Holdcos. The Holdover Note bears interest at a rate of 7.63%. Payments are made quarterly, consisting of both principal and accrued interest.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company may prepay the outstanding principal amount partially or in full at any time without penalty or premium. Early partial prepayments are applied to reduce the last maturing principal installments first.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In the event of default, including non-payment, breach of representations, or insolvency events, the noteholder may declare the entire principal, accrued interest, and other amounts immediately due and payable. Furthermore, the obligations under the Holdover Note are subordinated to AT Umbrella LLC’s senior indebtedness.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company did not incur material loan issuance costs in connection with the Capital Account Notes and Holdover Note.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The fair value of the debt obligations is approximated by the principal amount of the loans as of March 31, 2026. The fair value of the debt obligations is estimated using a discounted cash flow methodology, which includes significant unobservable inputs used in the fair value measurement process for items valued utilizing Level 3 techniques. The Company incurred approximately $6.2 million in interest expense with respect to the Capital Account Notes and Holdover Note during the three months ended March 31, 2026. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Future maturities of long-term debt as of March 31, 2026, were as follows (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Fiscal Year</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Amount</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Remainder of 2026</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">48,753 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2027</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56,725 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">2028</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56,442 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2029</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44,936 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">2030</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44,190 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Thereafter</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">85,452 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Total</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">336,498 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

20000000.0

5000000.0

0.050

1300000

0.015

187800000

P7Y

0.0631

0.0750

P7Y

162300000

P8Y

0.0763

6200000

<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Future maturities of long-term debt as of March 31, 2026, were as follows (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Fiscal Year</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Amount</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom">Remainder of 2026</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">48,753 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2027</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56,725 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">2028</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">56,442 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">2029</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44,936 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">2030</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">44,190 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Thereafter</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">85,452 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Total</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">336,498 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

48753000

56725000

56442000

44936000

44190000

85452000

336498000

Employee Compensation and Benefits<div style="margin-bottom:6pt;margin-top:6pt;padding-left:20.15pt">Deferred Compensation</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Effective January 1, 2023, the Company established a deferred compensation plan for non-partner employees holding the title of Director who are eligible once they have five or more years of service as a Director. On an annual basis, eligible participants are granted an award payable in equal installments starting in March of the following five years. The annual award is based on each eligible participant’s years of service at the Director level and on income allocated to the Management Holdcos prior to the IPO, and to Aggregator after the IPO. The plan can be terminated at any time by the Company at its sole discretion, and payment is contingent upon the continued employment of eligible participants during the five-year payment period. The Company recognized $0.5 million, and $0.5 million of expense in cost of services related to this program for the three months ended March 31, 2026 and 2025 respectively. The Company recognized $0.1 million, and $0.1 million of expense in sales, general, and administrative related to this program for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026 and December 31, 2025, $1.5 million and $2.4 million, respectively, was included in other current liabilities for this program.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company pays certain client-serving individuals variable incentive compensation that is typically determined as a fixed bonus percentage based on revenues collected. The Company recognized $0.8 million and $0.3 million of compensation expense in cost of services during the three months ended March 31, 2026 and 2025, respectively. The Company included $1.2 million and $3.5 million in accrued payroll and benefits as of March 31, 2026 and December 31, 2025, respectively.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Defined Contribution Plan</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company maintains a qualified 401(k) Profit Sharing Plan (the “401(k) Plan”) for eligible employees. In 2026 and 2025, employees could contribute a percentage of their pretax compensation subject to IRS limitations, and the Company matched the participants’ contribution up to 25% of the first 6% of each participant’s contribution (or 1.5% of their total compensation). Total matching contributions made to the 401(k) Plan for the three months ended March 31, 2026 and 2025 was $1.3 million and $1.1 million, respectively. The related expense is recognized as either cost of services or sales, general, and administrative expense based on the nature of service of eligible employees.</div>

P5Y

500000

100000

1500000

2400000

800000

300000

1200000

3500000

0.25

0.06

0.015 0.015

1300000

1100000

Redeemable Noncontrolling Interest<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In connection with the Reorganization Transactions, Class X Umbrella Units were issued to Aggregator. Aggregator also owns all outstanding shares of the Company's Class B common stock. Under the Limited Liability Company Agreement of AT Umbrella LLC (the “AT Umbrella LLC Agreement”), Aggregator had the right from time to time to cause AT Umbrella LLC to redeem any or all of its Class X Umbrella Units (and cancel paired shares of the Company's Class B common stock), in exchange for, at Andersen Group Inc.’s election, either cash (based on the volume-weighted average market price of a share of the Company's Class A common stock) or shares of Class A common stock, and such exchange, at Andersen Group Inc.’s election, may have been effected as a direct exchange of cash or Class A common stock for Class X Umbrella Units (and the cancellation of paired shares of the Company's Class B common stock) in lieu of such redemption. The redemption election was not considered to be within the control of the Company because the holder of Class B common stock controlled the Company through direct representation on its board of directors. As a result, the noncontrolling interests in AT Umbrella LLC was classified as redeemable noncontrolling interests outside of permanent equity at December 31, 2025. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Redeemable noncontrolling interest was recorded at the greater of the carrying value or redemption amount. In determining the measurement method of redemption value, the Company elected to accrete changes to the redemption value over the period from the date of issuance to the earliest redemption date. The resulting changes to accrete to the redemption value were recorded in equity. If the Company had an accumulated deficit, changes were recorded against additional paid-in-capital until there was no additional paid-in capital balance, and then charges were recorded against accumulated deficit. Changes in the redemption value were considered to be changes in accounting estimates and were accounted for prospectively.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:18pt">On March 24, 2026, an amendment to the AT Umbrella LLC Limited Liability Company Agreement was executed. The amendment modified the redemption provisions of Class X Umbrella Units held by Aggregator. Under the revised terms, the Company may elect to redeem Class X Umbrella Units held by Aggregator for cash only if the cash proceeds are sourced from a qualifying offering of the Company's Class A common stock. As a result of these changes, the redeemable noncontrolling interest was prospectively reclassified from temporary equity into permanent equity as the conditions for temporary equity classification are no longer met.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Changes to the value of the redeemable noncontrolling interest during the three months ended March 31, 2026 are summarized as follows (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Amount</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance as of January 1, 2026</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">106,354 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Forfeiture of Class X Umbrella Units and corresponding cancellation of Class B common stock</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(66)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">15,903 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Equity-based compensation</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:8pt;text-align:right"></div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37,262 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Distribution</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,270)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Accretion to redemption value</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">651,114 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Reclassification of redeemable noncontrolling interest from temporary equity into permanent equity</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(804,297)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance as of March 31, 2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Changes to the value of the redeemable noncontrolling interest during the three months ended March 31, 2026 are summarized as follows (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Amount</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance as of January 1, 2026</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">106,354 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Forfeiture of Class X Umbrella Units and corresponding cancellation of Class B common stock</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(66)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">15,903 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Equity-based compensation</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:8pt;text-align:right"></div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">37,262 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Distribution</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,270)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Accretion to redemption value</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">651,114 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Reclassification of redeemable noncontrolling interest from temporary equity into permanent equity</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(804,297)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Balance as of March 31, 2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

106354000

66000

15903000

37262000 6270000

651114000

804297000

Stockholders’ Equity<div style="margin-bottom:6pt;padding-left:20.16pt">Equity Structure Prior to Initial Public Offering and Reorganization Transactions</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company historically conducted business through Andersen Tax Holdings LLC and its subsidiaries, including Andersen Tax LLC. Prior to the consummation of the IPO and Reorganization Transactions, all of the equity interests of Andersen Tax Holdings LLC were owned by the Management Holdcos. Each of the Management Holdco’s equity holders included current and former managing directors. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Distributions payable to related parties on the unaudited consolidated balance sheets consists of distributions declared but not yet paid to the Management Holdcos related to members' tax obligations, members’ undistributed capital and allocated income prior to the IPO and Reorganization Transactions. During the three months ended March 31, 2026, the Company paid distributions of $18.1 million to Aggregator.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Amendment and Restatement of Certificate of Incorporation </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">On December 6, 2025, the Board of Directors of Andersen Group Inc. approved the Company’s Amended and Restated Certificate of Incorporation. The Amended and Restated Certificate of Incorporation authorizes the Company to issue 1,000,000,000 shares of Class A common stock, par value of $0.0001 per share, 300,000,000 shares of Class B common stock, par value of $0.0001 per share, and 100,000,000 shares of preferred stock, par value of $0.0001 per share.</div><div style="margin-bottom:6pt;text-align:justify;text-indent:20.16pt">Class A Common Stock </div><div style="text-align:justify;text-indent:20.16pt">Shares of Class A common stock have both voting and economic rights. Holders of Class A common stock are entitled to one vote for each share of Class A common stock held. Shares of Class A common stock are entitled to dividends and pro rata distribution of remaining available assets upon liquidation. Shares of Class A common stock do not have preemptive, subscription, redemption or conversion rights. As of March 31, 2026 and December 31, 2025, there were 12,650,000 shares of Class A common stock issued and outstanding. </div><div> </div><div style="margin-bottom:6pt;text-align:justify;text-indent:20.16pt">Class B Common Stock </div><div style="text-align:justify;text-indent:20.16pt">Shares of Class B common stock have voting but no economic rights. Holders of Class B common stock generally are entitled, without regard to the number of shares of Class B common stock held by such holder, to ten votes for each share held. Shares of Class B common stock do not have any right to receive dividends or distribution upon liquidation. As of March 31, 2026, there were 98,826,563 shares of Class B common stock issued and outstanding. As of December 31, 2025, there were 99,166,563 shares of Class B common stock issued and outstanding. All shares of Class B common stock are held by Aggregator.</div><div> </div><div style="margin-bottom:6pt;text-align:justify;text-indent:20.16pt">Preferred Stock </div><div style="text-align:justify;text-indent:20.16pt">The Company is authorized to issue one or more series of preferred stock, provided that the aggregate number of shares issued and not retired of any and all such series shall not exceed the total number of shares of preferred stock authorized. The Company's board of directors may determine, with respect to any series of preferred stock, the powers (including voting powers), preferences and relative, participating, optional or other special rights. As of March 31, 2026 and December 31, 2025, no preferred stock has been issued.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Distributions to Members Related to Their Income Tax Liabilities</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">As a limited liability company treated as a partnership for income tax purposes, AT Umbrella LLC does not incur significant federal, state or local income taxes, as these are primarily the obligations of its members. Under the AT Umbrella LLC Agreement, the AT Umbrella LLC is required to distribute cash, to the extent that it has cash available, on a pro rata basis to its members to the extent necessary to cover the members' tax liabilities, if any, with respect to each member's share of the AT Umbrella LLC's taxable earnings. During the three months ended March 31, 2026, the Company paid distributions totaling $6.3 million to Aggregator in satisfaction of member tax liabilities. </div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">AT Umbrella LLC Agreement</div><div style="margin-bottom:12pt;text-align:justify;text-indent:18pt">As of March 31, 2026, 12,650,000 Class X Umbrella Units are held by Andersen Group Inc. corresponding to 12,650,000 shares of Andersen Group Inc. Class A common stock issued and outstanding as of such date. The remaining 98,826,563 Class X Umbrella Units outstanding as of March 31, 2026 correspond to 97,850,000 shares of Andersen Group Inc. Class B common stock issued and outstanding as of such date, which are held by Aggregator. The remaining 976,563 shares of Class B common stock outstanding correspond with AT Umbrella LLC LTIP Units held by Aggregator on behalf of certain Managing Directors of Andersen Tax LLC. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Aggregator may require AT Umbrella LLC to redeem its Class X Umbrella Units (and cancel paired Andersen Group Inc. Class B common stock), with Andersen Group Inc. having the option to settle the redemption in cash, if the cash proceeds are sourced from a qualifying offering of its Class A common stock, or Class A common stock, or to effect a direct exchange of cash or Class A common stock for the units and paired shares. See Note 13 for further information. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Under the AT Umbrella LLC Agreement, the Company is required to cause AT Umbrella to issue additional Class X Umbrella Units to the Company or Aggregator whenever the Company or Aggregator issues equity securities. For the </div><div style="margin-bottom:12pt;text-align:justify">Company, this obligation applies to shares of Class A common stock or other economic equity securities, and for Aggregator, to Class X Aggregator Units or exchangeable equity instruments. Concurrently, any net proceeds received from these equity issuances by the Company or Aggregator must be contributed to AT Umbrella LLC, unless otherwise used to fund specific expenses. Similar parity is maintained in equity transactions such as repurchases or redemptions involving the Company, Aggregator, or AT Umbrella LLC.</div>

18100000

1000000000

0.0001

300000000

0.0001

100000000

0.0001

12650000

98826563

99166563

6300000

12650000

98826563

97850000

976563

Equity-Based Compensation<div style="margin-bottom:6pt;text-align:justify;text-indent:20.16pt">2025 Equity Incentive Plan</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">On December 6, 2025, the board of directors of Andersen Group Inc. approved the Company’s 2025 Equity Incentive Plan. The 2025 Equity Incentive Plan provides for the grant of nonstatutory stock options (NSOs), stock appreciation rights (SARs), restricted shares, restricted stock units (RSUs) and other equity-based awards. As of March 31, 2026 the Company has reserved 12,290,828 shares of Class A common stock in connection with the 2025 Equity Incentive Plan. On the first day of each January during the term of the 2025 Equity Incentive Plan, beginning on January 1, 2026 and ending on (and including) January 1, 2035, the number of shares of Class A common stock that may be issued under the 2025 Equity Incentive Plan will increase by a number of shares equal to the lesser of (a) 5% of the outstanding shares of all classes of common stock on the last day of the immediately preceding fiscal year or (b) such lesser number of shares (including zero) that the plan administrator determines for purposes of the annual increase for that fiscal year. The Company will recognize forfeitures as they occur.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Concurrently with the IPO, the Company granted new RSUs to employees. The RSUs granted in 2025 have a time-based vesting requirement wherein 1/6th of the total number of RSUs subject to the award will vest on each annual anniversary of the vesting commencement date, subject to the recipient’s continuous service as an employee to the Company, a parent, subsidiary or affiliate through the applicable vesting date. Upon vesting, the RSUs are convertible into Class A common stock; unvested RSUs are not considered outstanding shares of Class A common stock. The fair value of the RSUs was based on the fair value of a share of Class A common stock at the time of grant, which equates to a weighted-average grant date fair value of $16.00 per unit. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The following table summarizes the information about RSU activity of Andersen Group Inc. during the three months ended March 31, 2026:</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">Number of Units</td></tr> <tr> <td colspan="3" style="background-color:#ccecff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of December 31, 2025</td> <td colspan="3" style="background-color:#ccecff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ccecff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,419,378 </td> <td style="background-color:#ccecff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Granted</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Vested</td> <td colspan="3" style="background-color:#caedfb;padding:0 1pt"></td> <td colspan="2" style="background-color:#caedfb;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="background-color:#caedfb;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(258,375)</td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of March 31, 2026</td> <td colspan="3" style="background-color:#caedfb;padding:0 1pt"></td> <td colspan="2" style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">5,161,003 </td> <td style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Total compensation expense for RSUs was approximately $3.6 million for the three months ended March 31, 2026, of which $2.8 million is included in cost of services and $0.8 million is included in sales, general and administrative expense in the consolidated statement of operations. The unamortized compensation cost related to RSUs of $78.4 million as of March 31, 2026 is expected to be recognized over a weighted-average period of approximately 5.7 years.</div><div style="margin-bottom:6pt;margin-top:18pt;text-align:justify;text-indent:20.16pt">AT Umbrella LLC LTIP Units</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Concurrently with the IPO, AT Umbrella LLC issued AT Umbrella LLC LTIP Units to Aggregator in connection with an earlier appointment of additional Managing Directors during 2025, and Aggregator issued corresponding Aggregator LTIP Units to such Managing Directors representing such claim to AT Umbrella LLC LTIP Units. Andersen Group Inc. issued to Aggregator shares of Class B common stock equal in number to the maximum number of Class X Umbrella Units issuable upon exchange of such LTIP Units issued to Aggregator in exchange for the payment by Aggregator of the aggregate par value of the Class B common stock that is received.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">AT Umbrella LLC LTIP Units are economically similar to stock options. Each LTIP Unit has a per-unit hurdle price, which is economically similar to the exercise price of a stock option. LTIP Units designated as "Catch-Up Units" are subject to a provision allowing their holder to receive additional distributions after satisfying the hurdle amount of the unit. </div><div style="margin-bottom:12pt;text-align:justify">Once the hurdle amount is surpassed, a catch-up adjustment ensures that the holder of the Catch-Up Unit receives distributions equivalent to what they would have received if the hurdle amount had not been applied, up to the agreed-upon cumulative amount. All LTIP Units are designated as Catch-Up Units.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">LTIP Units generally vest 1/5th on each annual anniversary of the vesting commencement date over a five-year period, subject to the recipient’s continuous service as an employee of the Company or one of its subsidiaries.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The following table summarizes information around AT Umbrella LLC LTIP Units: </div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.718%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">Number of Units</td></tr> <tr> <td colspan="3" style="background-color:#ccecff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of December 31, 2025</td> <td colspan="2" style="background-color:#ccecff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">976,563 </td> <td style="background-color:#ccecff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Granted</td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Exercised</td> <td colspan="2" style="background-color:#caedfb;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="background-color:#caedfb;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of March 31, 2026</td> <td colspan="2" style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">976,563 </td> <td style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The fair value of the LTIP Units was based on the fair value of a share of Class A common stock of Andersen Group Inc. at the time of grant, which equates to a weighted-average grant date fair value of $16.00 per unit. The LTIP Units granted in 2025 are subject to a hurdle amount of $16.00 per unit, which was specified at issuance and represents the threshold over which an LTIP Unit is allocated income or is entitled to distributions.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Total equity-based compensation expense for LTIP Units was approximately $0.9 million for the three months ended March 31, 2026, which is included in cost of services in the consolidated statement of operations. The unamortized compensation cost related to LTIP Units of $12.9 million as of March 31, 2026 is expected to be recognized over a weighted-average period of approximately 4.7 years.</div><div style="margin-bottom:6pt;margin-top:18pt;text-align:justify;text-indent:20.16pt">Class X Aggregator Units</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In connection with the Reorganization Transactions described in Note 1, Andersen Tax LLC incurred compensation expenses as a result of the exchange of common units and PIUs of the Management Holdcos for new Class X Aggregator Units with Managing Directors of Andersen Tax LLC, of which a portion of the new interests are subject to vesting conditions. These Class X Aggregator Units generally vest 1/5th on each annual anniversary of their vesting commencement dates. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The following table summarizes information around Class X Aggregator Units subject to vesting conditions: </div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">Number of Units</td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of December 31, 2025</td> <td colspan="3" style="background-color:#caedfb;padding:0 1pt"></td> <td colspan="2" style="background-color:#caedfb;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">44,745,250 </td> <td style="background-color:#caedfb;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Granted</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Vested</td> <td colspan="3" style="background-color:#caedfb;padding:0 1pt"></td> <td colspan="2" style="background-color:#caedfb;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(232,500)</td> <td style="background-color:#caedfb;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(340,000)</td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of March 31, 2026</td> <td colspan="3" style="background-color:#caedfb;padding:0 1pt"></td> <td colspan="2" style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">44,172,750 </td> <td style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The portion of units subjected to service-based vesting conditions results in incremental compensation expense to be recognized over the requisite service period. The Company incurred $41.1 million of compensation expense for Class X Aggregator Units for the three months ended March 31, 2026, of which $37.5 million was recognized in cost of services and $3.6 million was recognized in sales, general and administrative expenses on the consolidated statement of operations. The unamortized compensation cost related to Class X Aggregator Units of $662.2 million as of March 31, 2026 is expected to be recognized over a weighted-average period of approximately 4.5 years. The grant date weighted average fair value associated with all Class X Aggregator Units was $16.00 per unit. The overall value of the Class X Aggregator Units was derived from the value of the Class A common stock for which the units may be exchanged.</div><div style="margin-bottom:6pt;margin-top:18pt;text-align:justify;text-indent:20.16pt">Equity-based Compensation Expense</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The table below reflects the total equity-based compensation expense recognized in the consolidated statement of operations for the three months ended March 31, 2026 and 2025 (in thousands):</div><div style="margin-bottom:12pt;text-align:justify"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">Three Months Ended March 31,</td></tr> <tr> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top">Cost of services</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">41,226 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">— </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Sales, general and administrative</td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,378 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top">Total</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">45,604 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">— </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

12290828

0.05

16.00

5419378

258375

5161003

3600000

2800000

800000

78400000

P5Y8M12D

P5Y

<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The following table summarizes information around AT Umbrella LLC LTIP Units: </div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.718%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">Number of Units</td></tr> <tr> <td colspan="3" style="background-color:#ccecff;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of December 31, 2025</td> <td colspan="2" style="background-color:#ccecff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">976,563 </td> <td style="background-color:#ccecff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Granted</td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Exercised</td> <td colspan="2" style="background-color:#caedfb;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="background-color:#caedfb;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of March 31, 2026</td> <td colspan="2" style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">976,563 </td> <td style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

976563

16.00

900000

12900000

P4Y8M12D

<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The following table summarizes information around Class X Aggregator Units subject to vesting conditions: </div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">Number of Units</td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of December 31, 2025</td> <td colspan="3" style="background-color:#caedfb;padding:0 1pt"></td> <td colspan="2" style="background-color:#caedfb;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">44,745,250 </td> <td style="background-color:#caedfb;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Granted</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Vested</td> <td colspan="3" style="background-color:#caedfb;padding:0 1pt"></td> <td colspan="2" style="background-color:#caedfb;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(232,500)</td> <td style="background-color:#caedfb;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Forfeited</td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">(340,000)</td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#caedfb;padding:2px 1pt;text-align:left;vertical-align:top">Outstanding as of March 31, 2026</td> <td colspan="3" style="background-color:#caedfb;padding:0 1pt"></td> <td colspan="2" style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">44,172,750 </td> <td style="background-color:#caedfb;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

44745250

232500

340000

44172750

41100000

37500000

3600000

662200000

P4Y6M

16.00

<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The table below reflects the total equity-based compensation expense recognized in the consolidated statement of operations for the three months ended March 31, 2026 and 2025 (in thousands):</div><div style="margin-bottom:12pt;text-align:justify"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top">Three Months Ended March 31,</td></tr> <tr> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top">Cost of services</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">41,226 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">— </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top">Sales, general and administrative</td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">4,378 </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">— </td> <td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top">Total</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">45,604 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">— </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>

41226000

4378000

45604000

Earnings Per Share<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Due to the impact of the Reorganization Transactions, the Company’s capital structure for the period prior to the IPO is not comparable. As a result, the presentation of earnings per share for the periods prior to such transactions is not meaningful and only earnings per share for the period subsequent to the IPO is presented herein. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company computes earnings per share (“EPS”) of Class A common stock. Basic EPS is computed by dividing net income attributable to common stockholders by the weighted average number of shares of Class A common stock outstanding. The Company’s Class B common stock and RSUs are nonparticipating securities because holders are not entitled to dividends or dividend equivalent payments.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">For the calculation of diluted EPS, net income attributable to common stockholders for basic EPS is adjusted by the effect of dilutive securities. Diluted EPS attributable to common stockholders is computed by dividing the resulting net income attributable to common stockholders by the weighted-average number of common stock outstanding, adjusted to give effect to dilutive elements including RSUs and convertible Class X Umbrella Units and LTIP Units to the extent these are dilutive.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The following table presents the calculation of basic and diluted earnings per share for the three months ended March 31, 2026 (in thousands, except share and per share amounts):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Numerator:</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom">17,738 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income attributable to noncontrolling interest</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,244 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income attributable to Andersen Group Inc. stockholders, basic</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">494 </td> <td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income attributable to Andersen Group Inc. stockholders, diluted</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom">494 </td> <td style="background-color:#cceeff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:8pt"></div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Denominator:</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"><div style="margin-bottom:8pt"></div></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Weighted average number of shares of Class A common stock outstanding, basic</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650,000 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Effect of dilutive RSUs</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,768,886 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Effect of dilutive LTIP Units</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">395,835 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Weighted average number of shares of Class A common stock outstanding, diluted</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14,814,721 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Earnings per share:</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Earnings per share attributable to Class A common stockholders, basic</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom">0.04 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Earnings per share attributable to Class A common stockholders, diluted</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom">0.03 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The effect of the Company’s potentially dilutive Class X Umbrella Units were not included in the calculation of diluted earnings per share as the effect would be anti-dilutive. At March 31, 2026, 97,850,000 Class X Umbrella Units with a potentially dilutive impact were outstanding.</div>

<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The following table presents the calculation of basic and diluted earnings per share for the three months ended March 31, 2026 (in thousands, except share and per share amounts):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Numerator:</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom">17,738 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income attributable to noncontrolling interest</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">17,244 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income attributable to Andersen Group Inc. stockholders, basic</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">494 </td> <td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Net income attributable to Andersen Group Inc. stockholders, diluted</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom">494 </td> <td style="background-color:#cceeff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:8pt"></div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Denominator:</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"><div style="margin-bottom:8pt"></div></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Weighted average number of shares of Class A common stock outstanding, basic</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">12,650,000 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Effect of dilutive RSUs</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,768,886 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Effect of dilutive LTIP Units</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">395,835 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Weighted average number of shares of Class A common stock outstanding, diluted</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">14,814,721 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr style="height:12pt"> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Earnings per share:</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Earnings per share attributable to Class A common stockholders, basic</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom">0.04 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Earnings per share attributable to Class A common stockholders, diluted</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 0;text-align:right;vertical-align:bottom">0.03 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

17738000

17244000

494000

12650000

1768886

395835

14814721

0.04

0.03

97850000

Transactions with Related Parties<div style="margin-bottom:6pt;margin-top:6pt;padding-left:20.15pt">Loans and Notes Receivable from Related Parties, Net of Allowance for Credit Losses</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Loans and notes receivable due from related parties presented on the consolidated balance sheets include the following (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Loans and notes receivable from related parties</td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Member firm loans</div></td> <td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom">11,035 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom">11,035 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Employee loans</div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">179 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">218 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Stewardship funds</td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Total loans and notes receivable from related parties</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">11,214 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">11,648 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Allowance for credit loss </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,735)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,735)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:9pt;text-indent:-9pt">Total loans and notes receivable from related parties, net of allowance for credit losses </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">479 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">913 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table summarizes changes in the allowance for credit loss for loans and notes receivable due from related parties (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance at beginning of period</div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10,735 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,611 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">Provision </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,664 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Write offs</td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(540)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Balance at end of period</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10,735 </td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10,735 </td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Interest income includes interest earned on loans and notes receivable from related parties and is immaterial for both the three months ended March 31, 2026 and 2025, respectively.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Member Firm Loans</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Member firm loans consist of loans made to member firms of Andersen Global. As of March 31, 2026 and December 31, 2025, the Company had notes receivable from non-U.S. member firms of Andersen Global with stated principal values totaling $11.0 million ($0.3 million, net of allowance for credit losses), and stated principal values totaling $11.0 million ($0.3 million, net of allowance for credit losses), respectively. The notes bear interest based on variable rates including: the Applicable Federal Rate (AFR), the Prime rate, and the Secured Overnight Financing Rate (SOFR) plus an applicable margin percentage. The notes have maturities up to ten years.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Employee Loans</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company has entered into various agreements with certain employees whereby these individuals receive loans which may be either wholly or in part repaid from the distribution of earnings that the individuals receive or may be forgiven over a period of time. The forgivable portion of these loans is recognized as compensation expense over the life of the loans. As of March 31, 2026, the Company had notes receivable from employees with stated principal values totaling $0.2 million, net of an immaterial amount to be forgiven in 2027. As of December 31, 2025, the Company had notes receivable from employees with stated principal values totaling $0.2 million, net of $0.2 million to be forgiven in 2026. The fixed rate loans are based on the Applicable Federal Rate with maturity dates up to two years.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Stewardship Funds</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">During 2021, the Company provided a $2.0 million credit facility to funds formed for the benefit of certain Managing Directors maturing on December 31, 2029, permitting short-term advances up to 30 days with interest payable at the Prime </div><div style="margin-bottom:12pt;text-align:justify">rate. As of March 31, 2026, this credit facility was settled. As of December 31, 2025, $0.1 million was due to the Company under this credit facility.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">During 2023, the Company provided a $2.0 million credit facility to another fund formed for the benefit of certain Managing Directors maturing on December 31, 2033, permitting short-term advances up to 60 days with interest payable at the Prime rate. As of March 31, 2026, no amounts were outstanding. As of December 31, 2025, $0.3 million was outstanding bearing interest at the prime rate. </div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Trademark and License Fees</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company earns trademark and license fees from non-U.S. member firms of Andersen Global. The Company recognized $0.7 million, and $0.8 million in other income, net during the three months ended March 31, 2026 and 2025, respectively.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Historically, the Company was required to distribute a portion of trademark and license fees collected to an entity controlled by an executive of the Company; however, this arrangement was terminated on March 29, 2025, effective immediately, for no consideration. For the three months ended March 31, 2025, the Company incurred $0.1 million in cost of services in the consolidated statements of operations. The Company included $0.1 million in other current liabilities on the consolidated balance sheet as of December 31, 2025, with no comparable amount as of March 31, 2026.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Andersen Global Commitments</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In the normal course of business, the Company funds certain global management costs on behalf of Andersen Global and allocates a portion of these costs to be reimbursed by non-U.S. member firms. As of March 31, 2026 and December 31, 2025, amounts due from member firms included in prepaid expenses and other current assets were $5.2 million and $4.3 million, respectively.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">As of March 31, 2026 and December 31, 2025 net amounts due from member firms related to license fees and Andersen Global Commitments included in prepaid expenses and other current assets were $2.1 million and $1.3 million, respectively, and reserves related to these receivables were $3.2 million and $3.1 million respectively. Amounts due to member firms included in other current liabilities were $0.8 million and $0.6 million, respectively. </div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">State Tax Payments</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company remits certain state tax payments on behalf of certain Managing Directors which are recorded as a receivable. The receivable is settled upon the next tax distribution through a withholding from the gross tax distribution otherwise payable to the members. As of March 31, 2026 and December 31, 2025, balances due from related parties included in prepaid expenses and other current assets were $2.7 million and $2.7 million, respectively.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Capital Account Notes and Holdover Note</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In connection with the reorganization of the Management Holdcos, Aggregator issued Class X Aggregator Units to equity holders of the Management Holdcos who were current Managing Directors and related persons, and Class H Aggregator Units to certain retiring and retired managing director members of the Management Holdcos. Refer to Note 9 for further detail details.</div>

<div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">Loans and notes receivable due from related parties presented on the consolidated balance sheets include the following (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Loans and notes receivable from related parties</td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Member firm loans</div></td> <td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom">11,035 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom">11,035 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Employee loans</div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">179 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">218 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top">Stewardship funds</td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">395 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">Total loans and notes receivable from related parties</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">11,214 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">11,648 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Allowance for credit loss </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,735)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(10,735)</td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:9pt;text-indent:-9pt">Total loans and notes receivable from related parties, net of allowance for credit losses </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">479 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">913 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The following table summarizes changes in the allowance for credit loss for loans and notes receivable due from related parties (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">March 31,</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">December 31,</td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Balance at beginning of period</div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10,735 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">8,611 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">Provision </div></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">2,664 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom">Write offs</td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">— </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle">(540)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom">Balance at end of period</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10,735 </td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">10,735 </td> <td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

11035000

179000

218000

395000

11214000

11648000

10735000

479000

913000

10735000

8611000

2664000

540000

10735000

11000000.0

300000

11000000.0

300000

P10Y

200000

P2Y

2000000.0

P30D

100000

2000000.0

P60D

300000

700000

800000

100000

5200000

4300000

2100000

1300000

3200000

3100000

800000

600000

2700000

Commitments and Contingencies<div style="margin-bottom:6pt;margin-top:6pt;padding-left:20.15pt">Litigation</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The Company has been involved in various legal matters arising out of the ordinary course of business. Management believes such legal matters will not have a material adverse effect on the unaudited condensed consolidated balance sheets or statements of operations of the Company.</div><div style="margin-bottom:6pt;margin-top:18pt;padding-left:20.16pt">Other Commitments</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company entered into an agreement to use certain professional services training facilities (“Training Center Agreement”) for a limited number of days per year, which extends through 2030. Sales, general and administrative expenses include approximately $0.4 million and $0.6 million incurred for these services for the three months ended March 31, 2026 and 2025, respectively. The minimum future commitment under the Training Center Agreement is approximately $5.2 million through 2030.</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">During 2025, the Company signed commitments for software licenses for certain financial accounting systems and cloud hosting services. The contracts require minimum payments through 2031, as follows (in thousands):</div><div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Fiscal Year</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Minimum Commitments</div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Remainder of 2026</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,806 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">2027</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">2028</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">2029</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">2030</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Thereafter </div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total </div></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">13,921 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

400000

600000

5200000

The contracts require minimum payments through 2031, as follows (in thousands):<div style="margin-bottom:12pt"> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:85.112%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.082%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">Fiscal Year</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Minimum Commitments</div></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom">Remainder of 2026</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">3,806 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">2027</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">2028</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom">2029</td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom">2030</td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Thereafter </div></td> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,023 </td> <td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total </div></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">13,921 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

3806000

2023000

13921000

Income Taxes<div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Andersen Group Inc. is taxed as a C corporation and is subject to U.S. federal, state and local income taxes on its share of allocable partnership income. Andersen Group Inc.’s sole material asset is its ownership in AT Umbrella LLC, which is a limited liability company that is taxed as a partnership for U.S. federal and certain state and local income tax purposes. AT Umbrella LLC’s allocable share of taxable income and related tax credits, if any, are passed through to its members, including Andersen Group Inc., and are included in the members’ tax returns.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Prior to Andersen Group Inc.’s investment in AT Umbrella LLC, the Company was a multi-member limited liability company taxed as a partnership and generally not subject to U.S. federal and state taxes. However, certain state and local jurisdictions impose an entity level income tax and these amounts are reflected as income taxes in the consolidated financial statements. Each member of the limited liability company is responsible for reporting and paying income tax on their share of income or loss to the extent required by federal and state income tax regulations.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">In calculating the provision for interim income taxes in accordance with ASC Topic 740, Income Taxes, an estimated annual effective tax rate is applied to year-to-date ordinary income. At the end of each interim period, the Company estimates the effective tax rate expected to be applicable for the full fiscal year. The Company also records the tax impact of certain discrete, unusual or infrequently occurring items, including changes in judgment about valuation allowances and the effects of changes in tax laws or rates on deferred tax balances, in the interim period in which they occur.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">For the three months ended March 31, 2026 and 2025, the Company recorded an income tax provision of $2.8 million and $4.1 million, respectively on pre-tax income of $20.6 million and $54.7 million respectively.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company’s effective tax rate for the three months ended March 31, 2026 was 13.7% compared to 7.5% for the three months ended March 31, 2025. The effective tax rate for the three months ended March 31, 2026 differed from the U.S. statutory rate of 21% primarily due to non-controlling interest as Andersen Group Inc. is only subject to income tax on its allocable share of partnership income from AT Umbrella LLC and state and local income taxes. The effective tax rate for the three months ended March 31, 2025 differed from the U.S. statutory rate of 21% primarily related to income not subject to entity level tax as the Company is taxed as a partnership, compensation expense recorded for accounting purposes related to profit interest units that are not deductible for tax purposes and certain state and local entity level taxes.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">The Company regularly assesses the need for a valuation allowance related to its deferred tax assets. In making such assessment, the Company considered both positive and negative evidence related to the likelihood of realization of the deferred tax assets to determine, based on a weighing process of available evidence, whether it is more-likely-than-not that </div>its deferred tax assets will not be realized. As of March 31, 2026, the Company continued to conclude that substantially all of its investment in AT Umbrella LLC is not realizable on a more-likely-than-not basis as the investment in AT Umbrella LLC is capital in nature.

2800000

4100000

20600000

54700000

0.137

0.075

Segment Reporting<div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The Company conducts business as a single operating segment for its range of tax, valuation, financial advisory, and related consulting services. In reaching this conclusion, management considers the definition of the Chief Operating Decision Maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM, and how that information is used to make operating decisions, allocate resources, and assess performance. The Company’s CODM is the chief executive officer. The results of operations provided to and analyzed by the CODM are at the consolidated level which is the level that the CODM manages the business, allocates resources, makes key resource decisions, and assesses performance.</div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify;text-indent:20.15pt">The key measure of segment profit and loss that the CODM uses to allocate resources and assess performance is the Company’s net income or loss. The measure is used to benchmark the Company's results against forecasts. The table below shows a reconciliation of the Company’s net income, including the significant expense categories regularly provided to and reviewed by the CODM, as computed under U.S. GAAP to the Company’s total net income or loss in the unaudited condensed consolidated statements of operations (in thousands):</div><div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended March 31,</td></tr> <tr> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Revenue</div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">240,746 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">208,067 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div>Operating expenses:</div></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt">Personnel costs</div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">175,685 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">115,911 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt">Non-personnel and other operating costs(1)</div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">38,707 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">37,414 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">Depreciation and amortization </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,274 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,095 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total operating expenses </div></td> <td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">216,666 </td> <td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">155,420 </td> <td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total operating income </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">24,080 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">52,647 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Interest income </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,879 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,200 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Interest expense </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,234)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(143)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Other income, net </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">826 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,002 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Income before taxes </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">20,551 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">54,706 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Income tax expense </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,813 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,130 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Net income </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle">17,738 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle">50,576 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div> </div><div style="margin-bottom:12pt;padding-left:18pt;text-align:justify;text-indent:-18pt">(1)Non-personnel and other operating costs primarily include the provision for credit losses and costs such as occupancy, business development, training, recruiting, and annual discretionary bonus compensation.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.15pt">Assets provided to the CODM are consistent with those reported on the consolidated balance sheets with particular emphasis on the Company’s available liquidity, including its cash, cash equivalents, and financial instruments owned, reduced by current liabilities.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">Substantially all long-lived assets are maintained in, and the majority of income and losses are attributable to the United States of America.</div>

The table below shows a reconciliation of the Company’s net income, including the significant expense categories regularly provided to and reviewed by the CODM, as computed under U.S. GAAP to the Company’s total net income or loss in the unaudited condensed consolidated statements of operations (in thousands):<div> <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"> <tr> <td style="width:1.0%"></td> <td style="width:71.930%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.081%"></td> <td style="width:0.1%"></td> <td style="width:0.1%"></td> <td style="width:0.406%"></td> <td style="width:0.1%"></td> <td style="width:1.0%"></td> <td style="width:12.083%"></td> <td style="width:0.1%"></td></tr> <tr> <td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td> <td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom">Three Months Ended March 31,</td></tr> <tr> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2026</td> <td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td> <td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom">2025</td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div>Revenue</div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">240,746 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:top">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:top">208,067 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div>Operating expenses:</div></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="3" style="padding:0 1pt"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt">Personnel costs</div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">175,685 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top">115,911 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt">Non-personnel and other operating costs(1)</div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">38,707 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top">37,414 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt">Depreciation and amortization </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,274 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,095 </td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total operating expenses </div></td> <td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">216,666 </td> <td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">155,420 </td> <td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Total operating income </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">24,080 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">52,647 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Interest income </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,879 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,200 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Interest expense </div></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(6,234)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">(143)</td> <td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Other income, net </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">826 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">1,002 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Income before taxes </div></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">20,551 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom">$</td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom">54,706 </td> <td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div>Income tax expense </div></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">2,813 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td> <td colspan="3" style="padding:0 1pt"></td> <td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom">4,130 </td> <td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr> <tr> <td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><div>Net income </div></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle">17,738 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td> <td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle">$</td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:middle">50,576 </td> <td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div> </div><div style="margin-bottom:12pt;padding-left:18pt;text-align:justify;text-indent:-18pt">(1)Non-personnel and other operating costs primarily include the provision for credit losses and costs such as occupancy, business development, training, recruiting, and annual discretionary bonus compensation.</div>

240746000

208067000

175685000

115911000

-38707000

-37414000

2274000

2095000

216666000

155420000

24080000

52647000

1879000

1200000

6234000

143000

826000

1002000

20551000

54706000

2813000

4130000

17738000

50576000

Subsequent Events<div style="margin-bottom:6pt;text-align:justify;text-indent:20.16pt">Capital Account and Holdover Notes</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">After the reporting date, in April 2026, the Company pre-paid its Capital Account Notes and Holdover Note obligations in the amount of $19.4 million and made a quarterly scheduled payment of $4.2 million, see Note 9, "Long-Term Debt-Capital Account Notes" and Note 9, “Long-Term Debt-Holdover Note” for additional information.</div><div style="margin-bottom:6pt;text-align:justify;text-indent:20.16pt">Distributions</div><div style="margin-bottom:12pt;text-align:justify;text-indent:20.16pt">After the reporting date of March 31, 2026, the Company effected distributions to its pre-IPO owners in an aggregate amount of $12.8 million, related to undistributed capital and allocated income declared payable prior to the Reorganization Transactions. The Company also made a tax distribution to Aggregator in the amount of $11.2 million. </div><div style="margin-bottom:6pt;text-align:justify;text-indent:20.16pt">Inorganic Growth</div><div style="margin-bottom:12pt;text-align:justify;text-indent:18pt">In May 2026, the Company announced it closed the acquisition of tax firms in Ireland and New Zealand, a tax firm and a consulting firm in Nigeria, and a tax firm and a law firm in Uruguay, expanding its presence across key developed and high-growth markets as it continues to scale its global platform. </div><div style="margin-bottom:12pt;text-align:justify;text-indent:18pt">Due to the limited amount of time since the dates of the closed acquisitions, the initial accounting for the business combinations is incomplete, and therefore the Company is unable to disclose the information required by ASC 805, Business Combinations. The Company will include relevant disclosures as required in the second quarter of 2026.</div><div style="margin-bottom:12pt;text-align:justify;text-indent:18pt">In addition, Andersen signed agreements for the acquisition of a tax firm in Switzerland and a business combination in Canada, both expected to close in the third quarter of 2026, subject to the satisfaction of certain closing conditions.</div>

19400000

4200000

12800000

11200000

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