Revenue

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The Company’s revenue is derived from the sale of insurance policies and is primarily comprised of commission income and fee income. The Company's revenue recognition accounting policies for those sources of income and related contract costs are described in Note 3, "Revenue," of the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes to these policies during the three and six months ended June 30, 2026. The disclosures below should be read in conjunction with that note.

Disaggregation of Revenue

The following table disaggregates revenue by source for the:

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2026		2025		2026		2025
Commission income	$	42,531	$	32,062	$	71,565	$	54,769
Fee income	13,341		10,004		22,102		16,650
Total revenues	$	55,872	$	42,066	$	93,667	$	71,419

Contract Asset and Premium Deposits

The timing of revenue recognition may not align with the right to invoice the customer. The Company records accounts receivable when it has the unconditional right to issue an invoice and receive payment, regardless of whether revenue has been recognized. Policyholder payments received in advance of commencement of the performance obligation are recorded as premium deposits. No revenue is recognized on these deposits until the performance obligation is complete.

The following table provides information about receivables and premium deposits as of:

(In thousands)	June 30, 2026		December 31, 2025
Commissions and fees receivable	$	3,890	$	4,080
Premium deposits	$	35,614	$	18,941

During the three and six months ended June 30, 2026, the Company recognized revenue of $2 and $5,797 related to the premium deposits balance at December 31, 2025.