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Supplemental Balance Sheet and Cash Flow Information (Tables) | 12 Months Ended
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Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Restricted Assets | The following table presents the components of the Company's restricted assets as of December 31, 2025 and 2024:
|  | December 31,
|  | 2025 |  | 2024
|  | in thousands
Restricted cash and cash equivalents |  | $ | 138,823 |  |  | $ | 128,061 |
Fixed maturity securities |  | 675,302 |  |  | 577,688 |
Equity securities |  | 34,871 |  |  | 11,839 |
Total restricted assets |  | $ | 848,996 |  |  | $ | 717,588 |
Schedule of Assets and Liabilities of Consolidated Variable Interest Entities | The following table presents the assets and liabilities of the Company's consolidated VIEs as of December 31, 2025 and 2024:
|  | December 31,
|  | 2025 |  | 2024
ASSETS |  | in thousands
Cash and cash equivalents |  | $ | 697 |  |  | $ | 1,746 |
Restricted cash and cash equivalents |  | 17,005 |  |  | 1,221 |
Notes receivable |  | 81,740 |  |  | 49,337 |
Other assets |  | 1,748 |  |  | 1,961 |
TOTAL ASSETS |  | $ | 101,190 |  |  | $ | 54,265 |
LIABILITIES |  |  |  |
Accounts payable and accrued expenses |  | $ | 524 |  |  | $ | 280 |
Debt, net |  | 68,423 |  |  | 30,193 |
Other liabilities |  | 1,658 |  |  | 719 |
TOTAL LIABILITIES |  | $ | 70,605 |  |  | $ | 31,192 |
Schedule of Supplemental Cash Flow Information | The table below presents information regarding the Company's non-cash investing and financing activities, as well as the cash paid for interest and taxes for the years ended December 31, 2025, 2024, and 2023:
|  | Year ended December 31,
|  | 2025 |  | 2024 |  | 2023
Non-cash investing activities: |  | in thousands
Issuance of notes receivable (1) |  | $ | 12,132 |  |  | $ | 6,229 |  |  | $ | 6,492 |
Collection of notes receivable (1) |  | $ | 4,669 |  |  | $ | 8,084 |  |  | $ | 6,094 |
Capital expenditures |  | $ | 1,693 |  |  | $ | 723 |  |  | $ | 282 |
Acquisitions and investments |  | $ | — |  |  | $ | — |  |  | $ | 2,142 |
Termination of MHH Joint Venture (Refer to Note 12) |  | $ | — |  |  | $ | — |  |  | $ | 2,929 |
Non-cash financing activities: |  |  |  |  |  |
Loss on Warrant Exchange (Refer to Note 6) |  | $ | — |  |  | $ | 2,006 |  |  | $ | — |
Exchange of THG units for shares of Class A Common Stock (Refer to Note 20) | $ | 16,996 |  |  | $ | 3,227 |  |  | $ | 2,311 |
Deferred tax assets and TRA liabilities recorded upon exchange of THG units for shares of Class A Common Stock (Refer to Note 23) | $ | 1,318 |  |  | $ | — |  |  | $ | — |
Issuance of shares of Class A Common Stock resulting from the vesting of RSUs (Refer to Note 21) | $ | 12,101 |  |  | $ | 18,621 |  |  | $ | 9,975 |
Cash paid for interest |  | $ | 10,160 |  |  | $ | 8,613 |  |  | $ | 6,126 |
Cash paid for income taxes: (2) |  |  |  |  |  |
Federal |  | $ | 15,900 |  |  | N/A |  | N/A
State |  | 447 |  |  | N/A |  | N/A
Foreign |  | 63 |  |  | N/A |  | N/A
Total cash paid for income taxes |  | $ | 16,410 |  |  |  |  |
(1) In certain situations, BAC makes loans to refinance accounts receivable balances generated by Broad Arrow auctions and private sales. These loans are accounted for on the Consolidated Balance Sheets as non-cash reclassifications between "Accounts receivable" and "Notes receivable" and are not presented within Investing Activities in the Company's Consolidated Statements of Cash Flows. Upon repayment, the cash received in settlement of such loans is classified within Operating Activities in the Company's Consolidated Statements of Cash Flows. (2) Beginning with the year ended December 31, 2025, the Company has adopted ASU 2023-09 and as a result, cash paid for taxes, net of refunds received, is disclosed by jurisdiction on a prospective basis. For the years ended December 31, 2024 and 2023, cash paid for taxes was $17.9 million and $10.5 million, respectively.

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