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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities:    
Net loss $ (8,668) $ (6,825)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Income from discontinued operations, net of taxes 0 (439)
Loss on disposal of discontinued operations, net of taxes 0 620
Equity in net loss of limited liability investments 1 161
Depreciation and amortization expense 6,388 4,841
Stock-based compensation expense 1,391 1,447
Net realized gains (52) (1,359)
Net loss on change in fair value of equity investments 0 3
Gain on change in fair value of limited liability investment, at fair value (289) (173)
Impairment of Intangible Assets (Excluding Goodwill) 468 1,841
(Gain) loss on change in fair value of debt (1) 48
Loss on change in fair value of derivatives 0 49
Loss on change in fair value of contingent consideration 0 270
Deferred income taxes, adjusted for liabilities acquired (2,724) (200)
Amortization of fixed maturities premiums and discounts (43) (14)
Loss on extinguishment of debt 236 160
Changes in operating assets and liabilities:    
Service fee receivable, net, adjusted for assets acquired (1) 784
Other receivables, net, adjusted for assets acquired (47) (19)
Deferred contract costs (1,019) (360)
Other assets, adjusted for assets acquired (317) (354)
Deferred service fees 4,307 663
Other, net, adjusted for liabilities acquired 377 (432)
Cash provided by operating activities - continuing operations 7 712
Cash provided by operating activities - discontinued operations 0 462
Net cash provided by operating activities 7 1,174
Investing activities:    
Proceeds from sales and maturities of fixed maturities 7,745 5,618
Proceeds from sales of equity investments 0 77
Purchases of fixed maturities (7,437) (5,133)
Net proceeds from limited liability investment, at fair value 130 2,238
Net proceeds from investments in private companies 130 257
Net purchases of short-term investments (5) 0
Net proceeds from sale of discontinued operation 0 1,136
Acquisition of businesses, net of cash acquired (29,555) (20,016)
Acquisition of assets (188) 0
Net purchases of property and equipment, adjusted for assets acquired (712) (587)
Cash used in investing activities - continuing operations (29,892) (16,410)
Cash used in investing activities - discontinued operations 0 0
Net cash used in investing activities (29,892) (16,410)
Financing activities:    
Proceeds from issuance of common stock, net 15,602 0
Proceeds from issuance of preferred stock 8,000 8,250
Cash paid for repurchase of common stock (345) (2,504)
Cash paid to acquire noncontrolling interest 0 (2,500)
Distributions to noncontrolling interest holders 0 (1,413)
Payment of preferred stock dividends (674) 0
Payment of contingent consideration from acquisition (420) 0
Taxes paid related to net share settlements of restricted stock awards 0 (2,195)
Principal proceeds from bank loans, net of debt issuance costs of $389 in 2025 and $287 in 2024 24,059 33,663
Principal payments on bank loans (12,572) (19,963)
Principal payments on note payable (72) 0
Cash provided by financing activities - continuing operations 33,578 13,338
Cash used in financing activities - discontinued operations 0 (435)
Net cash provided by financing activities 33,578 12,903
Net increase (decrease) in cash and cash equivalents and restricted cash from continuing operations 3,693 (2,360)
Cash and cash equivalents and restricted cash at beginning of period 13,136 18,110
Less: cash and cash equivalents and restricted cash of discontinued operations 0 612
Cash and cash equivalents and restricted cash of continuing operations at beginning of period 13,136 17,498
Cash and cash equivalents and restricted cash of continuing operations at end of period 16,829 15,138
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets:    
Cash and cash equivalents 9,291 6,508
Restricted cash 7,538 8,630
Cash and cash equivalents and restricted cash per statements of cash flows $ 16,829 $ 15,138