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v3.25.4

Revenues (Tables) | 12 Months Ended
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Dec. 31, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following tables disaggregates revenue by source (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Type of revenue stream: |  |  |  |  |
Commissions and agency fees |  |  |  |  |
Renewal commissions | $ | 78,621 |  |  | $ | 74,938 |  |  | $ | 70,730 |
New business commissions | 27,985 |  |  | 24,608 |  |  | 23,411 |
Agency fees | 10,404 |  |  | 8,127 |  |  | 8,174 |
Contingent commissions | 38,376 |  |  | 31,385 |  |  | 13,746 |
Franchise revenues |  |  |  |  |
Renewal royalty fees | 170,767 |  |  | 138,942 |  |  | 107,524 |
New business royalty fees | 30,153 |  |  | 27,122 |  |  | 23,168 |
Initial franchise fees | 5,594 |  |  | 6,620 |  |  | 11,238 |
Other franchise revenues | 2,734 |  |  | 1,831 |  |  | 1,843 |
Interest income | 670 |  |  | 932 |  |  | 1,443 |
Total revenues | $ | 365,304 |  |  | $ | 314,505 |  |  | $ | 261,276 |
Timing of revenue recognition: |  |  |  |  |
Transferred at a point in time | $ | 117,010 |  |  | $ | 107,673 |  |  | $ | 102,315 |
Transferred over time | 248,294 |  |  | 206,832 |  |  | 158,961 |
Total revenues | $ | 365,304 |  |  | $ | 314,505 |  |  | $ | 261,276 |
Schedule of Contract Balances | The following table provides information about receivables, cost to obtain, and contract liabilities from contracts with customers (in thousands):
| December 31, |  |
| 2025 |  | 2024 |  | Increase/(decrease)
Cost to obtain franchise contracts(1) | $ | 1,801 |  |  | $ | 1,967 |  |  | $ | (166) |
Commissions and agency fees receivable, net(2) | 36,613 |  |  | 31,375 |  |  | 5,238 |
Receivable from franchisees, net(2) | 14,077 |  |  | 14,546 |  |  | (469) |
Contract liabilities(2)(3) | 16,266 |  |  | 18,466 |  |  | (2,200) |
(1) Cost to obtain franchise contracts is included in Other assets on the consolidated balance sheets. (2) Includes both the current and long term portion of this balance. (3) Initial Franchise Fees to be recognized over the life of the contract Significant changes in contract liabilities are as follows (in thousands):
| December 31,
| 2025 |  | 2024
Contract liability at beginning of period | $ | 18,466 |  |  | $ | 27,099 |
Revenue recognized during the period | (5,594) |  |  | (6,620) |
New deferrals(1) | 3,930 |  |  | 3,125 |
Write offs(2) | (536) |  |  | (5,138) |
Contract liability at end of period | $ | 16,266 |  |  | $ | 18,466 |
(1) Initial franchise fees where the consideration is received from the customer for services which are to be transferred to the franchisee over the term of the franchise agreement (2) Franchise Fees, net of recognized revenue, no longer deferred due to the termination of the Franchise Agreement.
Schedule of Anticipated Future Recognition of Deferred Initial Franchise Fees | The following table reflects the estimated initial franchise fees (contract liability) to be recognized in the future related to performance obligations that are unsatisfied at the end of the period (in thousands):
Estimate for the year ended December 31: |  |
2026 |  | $ | 3,241 |
2027 |  | 2,741 |
2028 |  | 2,506 |
2029 |  | 2,225 |
2030 |  | 1,889 |
Thereafter |  | 3,664 |
|  | $ | 16,266 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 + Details
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