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Fair Value Measurements
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Assets Measured at Fair Value on a Recurring Basis
The Company’s assets that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows:
(in millions)Quoted Prices
in Active
Markets
(Level 1)
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Carrying
Value
As of December 31, 2025
Assets:
Cash and cash equivalents—money market funds$67.0 $— $— $67.0 
Mortgage loans held for sale
— 7.1 — 7.1 
Certificate of deposit— 2.3 — 2.3 
$67.0 $9.4 $ $76.4 
(in millions)Quoted Prices
in Active
Markets
(Level 1)
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Carrying
Value
As of December 31, 2024
Assets:
Cash and cash equivalents—money market funds$36.8 $— $— $36.8 
Mortgage loans held for sale
— 2.6 — 2.6 
Certificate of deposit— 2.2 — 2.2 
$36.8 $4.8 $ $41.6 
Assets Measured at Fair Value on a Non-Recurring Basis
During 2024, the Company made a strategic investment of $8.1 million in equity securities of a privately-held company over which the Company does not exercise significant influence. These equity securities do not have a readily determinable fair value and are accounted for under the measurement alternative. Under the measurement alternative, the carrying value of the security is measured at cost less any impairment. An equity security without a readily determinable fair value is considered impaired when the fair value of the Company’s interest is less than the carrying value. During the three months ended December 31, 2024, the Company became aware of certain developments and circumstances that indicated that there was a decline in the fair value of this investment. As a result, the Company performed an assessment of the equity investment, including a review of the financial condition, operating results and liquidity prospects of the equity issuer. Based on this assessment, the Company concluded that the equity investment was fully impaired as of December 31, 2024, and recorded an impairment loss of $8.1 million during 2024 which is included in other gains (losses), net on both the Company’s consolidated statements of operations and of cash flows.