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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 240,206 $ 204,450
Restricted cash 6,463 4,069
Accounts receivable, net 4,616 5,721
Current contract assets, net 28,704 54,429
Income tax receivable 7,035 9,714
Other current assets 2,852 2,361
Total current assets 289,876 280,744
Fixed assets, net 3,913 2,573
Operating lease right-of-use asset, net 3,990 4,610
Contract assets 610 21,001
Deferred tax asset, net 70,113 65,128
Other assets 5,535 5,575
Total assets 374,037 379,631
Current liabilities    
Accounts payable 375 288
Accrued expenses 8,131 6,388
Current portion of debt 4,688 3,750
Third-party claims administration liability 6,464 4,055
Other current liabilities 932 626
Total current liabilities 20,590 15,107
Long-term debt, net of deferred financing costs 139,357 143,683
Operating lease liabilities 3,450 4,082
Other liabilities 5,060 3,935
Total liabilities 168,457 166,807
Commitments and contingencies
Stockholders’ equity    
Preferred stock, $0.01 par value; 10,000,000 shares authorized and none issued and outstanding 0 0
Common stock, $0.01 par value; 550,000,000 shares authorized, 128,198,185 shares issued and 118,819,795 shares outstanding as of December 31, 2023 and 128,198,185 shares issued and 123,646,059 shares outstanding as of December 31, 2022 1,282 1,282
Additional paid-in capital 502,032 499,625
Accumulated deficit (193,749) (215,819)
Treasury stock at cost, 9,378,390 shares at December 31, 2023 and 4,552,126 at December 31, 2022 (103,985) (72,264)
Total stockholders’ equity 205,580 212,824
Total liabilities and stockholders’ equity $ 374,037 $ 379,631