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Business Combination (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the consideration transferred to acquire Beat and the estimated fair values of the identified assets acquired and liabilities assumed at the acquisition date, as well as the fair value of the NCI, at the acquisition date:
Fair value of consideration transferred: |  |
Cash |  | $ | 252,048 |
Common shares |  | 29,229 |
Total consideration |  | $ | 281,278 |
Recognized amounts of assets acquired, liabilities assumed and NCI: |  |
Cash and equivalents |  | $ | 8,272 |
Short-term investments |  | 28,919 |
Commission receivables and contract assets |  | 47,696 |
Other assets |  | 10,972 |
Intangible assets |  | 311,557 |
Goodwill |  | 357,317 |
Advanced commissions |  | (49,299) |
Premium payable |  | (5,722) |
Deferred tax liability |  | (74,300) |
Other liabilities |  | (19,570) |
Redeemable NCI |  | (185,469) |
Nonredeemable NCI |  | (149,095) |
Total |  | $ | 281,278 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The following table sets forth the estimated fair values of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:
|  | Fair Value |  | Useful Life - Years
Customer relationships |  | $ | 303,331 |  |  | 10.0
Trademarks |  | 8,226 |  |  | 10.0
Total |  | $ | 311,557 |  |  |
Business Acquisition, Pro Forma Information | The following unaudited pro forma summary presents consolidated information of Ambac as if the business combination had occurred on January 1, 2023.
|  | Year Ended December 31,
Pro forma (unaudited) |  | 2024 |  | 2023
Revenues |  | $ | 276,800 |  |  | $ | 182,482 |
Net income (loss) from continuing operations |  | $ | (51,782) |  |  | $ | (93,021) |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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