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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 147,120 $ 108,326
Restricted cash and cash equivalents 176,309 615,950
Investments 61,827 10,946
Accounts receivable 93,488 71,530
Premiums receivable 201,992 137,525
Commissions receivable 18,987 79,115
Notes receivable 62,517 35,896
Deferred acquisition costs, net 168,635 141,637
Other current assets 77,995 49,293
Total current assets 1,008,870 1,250,218
Investments 471,965 5,526
Notes receivable 11,667 17,018
Property and equipment, net 18,674 20,764
Lease right-of-use assets 45,916 50,515
Intangible assets, net 92,035 91,924
Goodwill 114,175 114,214
Other long-term assets 54,710 38,033
TOTAL ASSETS 1,818,012 1,588,212
Current Liabilities:    
Accounts payable, accrued expenses and other current liabilities 74,547 87,175
Losses payable and provision for unpaid losses and loss adjustment expenses 258,836 198,508
Commissions payable 94,005 108,739
Due to insurers 118,480 79,815
Advanced premiums 30,639 20,471
Unearned premiums 385,619 317,275
Contract liabilities 38,890 30,316
Total current liabilities 1,001,016 842,299
Long-term lease liabilities 44,866 50,459
Long-term debt, net 122,867 130,680
Warrant liabilities 0 34,018
Deferred tax liability 21,008 15,937
Contract liabilities 15,834 17,335
Other long-term liabilities 4,199 4,139
TOTAL LIABILITIES 1,209,790 1,094,867
Commitments and Contingencies (Note 22) 0 0
TEMPORARY EQUITY    
Preferred stock, $0.0001 par value (20,000,000 shares authorized, 8,483,561 Series A Convertible Preferred Stock issued and outstanding as of September 30, 2024 and December 31, 2023) 82,788 82,836
STOCKHOLDERS' EQUITY    
Additional paid-in capital 601,867 561,754
Accumulated earnings (deficit) (455,083) (468,995)
Accumulated other comprehensive income (loss) 1,447 (88)
Total stockholders' equity 148,265 92,704
Non-controlling interest 377,169 317,805
Total equity (Note 16) 525,434 410,509
TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY 1,818,012 1,588,212
Class A Common Stock    
STOCKHOLDERS' EQUITY    
Common stock 9 8
Additional paid-in capital 3,200  
Class V Common Stock    
STOCKHOLDERS' EQUITY    
Common stock $ 25 $ 25