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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Commissions and fees $ 55,872 $ 42,066 $ 93,667 $ 71,419
Operating expenses:        
Agent commissions 16,524 12,736 27,876 21,676
Employee compensation and benefits 8,429 1,528 16,847 2,933
General and administrative 3,351 5,600 6,931 8,107
Amortization expense 1,017 912 2,021 1,786
Total operating expenses 29,321 20,776 53,675 34,502
Income from operations 26,551 21,290 39,992 36,917
Other income (expense):        
Interest income 262 247 427 416
Interest expense (3,626) (5,868) (7,157) (8,269)
Income before income tax expense 23,187 15,669 33,262 29,064
Income tax expense 7,391 4,049 10,117 7,505
Net income 15,796 11,620 23,145 21,559
Accretion adjustment to redeemable preferred stock 0 (3,467) 0 (6,848)
Allocation to participating preferred stock 0 0 0 (2,030)
Cash dividend paid on redeemable preferred stock 0 (54,170) 0 (54,170)
Net income available to common stockholders $ 15,796 $ (46,017) $ 23,145 $ (41,489)
Net income per share of common stock:        
Basic (in dollars per share) $ 0.11 $ (0.49) $ 0.17 $ (0.44)
Diluted (in dollars per share) $ 0.11 $ (0.49) $ 0.16 $ (0.44)
Weighted average shares of common stock outstanding:        
Basic (in shares) 137,803,040 93,350,000 138,020,808 93,350,000
Diluted (in shares) 146,193,258 93,350,000 145,973,442 93,350,000